Smart Metering Systems Valuation

Q: What is the Fair Price of SMC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

SMC (€11) is trading above our estimate of [[fair value]] (€3.56)

Is SMC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SMC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SMC (€11) is trading above our estimate of fair value (€3.56)

Significantly Below Fair Value: SMC is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SMC?

Key metric: As SMC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SMC. This is calculated by dividing SMC's market cap by their current earnings.
What is SMC's PE Ratio?
PE Ratio	80.7x
Earnings	UK£16.13m
Market Cap	UK£1.13b

SMC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	8x
Enterprise Value/EBITDA	18x
PEG Ratio	5.3x

Price to Earnings Ratio vs Peers

How does SMC's PE Ratio compare to its peers?

The above table shows the PE ratio for SMC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	10.9x
GBF Bilfinger	6.9x	2.3%	€1.6b
CWC CEWE Stiftung KGaA	10.2x	2.3%	€657.1m
BFSA Befesa	14.4x	29.6%	€797.6m
AAD Amadeus FiRe	12x	7.2%	€417.2m
SMC Smart Metering Systems	80.7x	15.2%	€1.3b

Price-To-Earnings vs Peers: SMC is expensive based on its Price-To-Earnings Ratio (80.7x) compared to the peer average (23.4x).

Price to Earnings Ratio vs Industry

How does SMC's PE Ratio compare vs other companies in the European Commercial Services Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: SMC is expensive based on its Price-To-Earnings Ratio (80.7x) compared to the European Commercial Services industry average (14.6x).

Price to Earnings Ratio vs Fair Ratio

What is SMC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SMC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	80.7x
Fair PE Ratio	17.2x

Price-To-Earnings vs Fair Ratio: SMC is expensive based on its Price-To-Earnings Ratio (80.7x) compared to the estimated Fair Price-To-Earnings Ratio (17.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.