Sun Art Retail Group Limited

DB:SRI Stock Report

Market Cap: €2.5b

Sun Art Retail Group Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: SRI (€0.24) is trading below our estimate of fair value (€0.63)

Significantly Below Fair Value: SRI is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As SRI is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for SRI. This is calculated by dividing SRI's market cap by their current revenue.
What is SRI's PS Ratio?
PS Ratio0.3x
SalesCN¥71.51b
Market CapCN¥18.99b

Price to Sales Ratio vs Peers

How does SRI's PS Ratio compare to its peers?

The above table shows the PS ratio for SRI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.5x
HFG HelloFresh
0.2x3.7%€1.8b
B4B Metro
0.05x2.9%€1.6b
RDC Redcare Pharmacy
1.3x17.5%€3.0b
HAW Hawesko Holding
0.3x3.1%€207.5m
SRI Sun Art Retail Group
0.3x3.6%€20.4b

Price-To-Sales vs Peers: SRI is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (0.5x).

Price to Sales Ratio vs Industry

How does SRI's PS Ratio compare vs other companies in the European Consumer Retailing Industry?

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
SRI 0.3xIndustry Avg. 0.3xNo. of Companies13PS00.40.81.21.62+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: SRI is good value based on its Price-To-Sales Ratio (0.3x) compared to the European Consumer Retailing industry average (0.3x).

Price to Sales Ratio vs Fair Ratio

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

SRI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.3x
Fair PS Ratio0.1x

Price-To-Sales vs Fair Ratio: SRI is expensive based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (0.1x).

Analyst Price Targets

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

The above table shows the analyst SRI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.24
€0.28
+16.2%
35.8%€0.60€0.19n/a13
Nov ’25€0.25
€0.23
-7.9%
15.0%€0.28€0.17n/a12
Oct ’25€0.20
€0.22
+9.1%
13.9%€0.27€0.17n/a13
Sep ’25€0.15
€0.21
+43.7%
14.6%€0.27€0.17n/a13
Aug ’25€0.13
€0.21
+58.7%
14.6%€0.27€0.17n/a13
Jul ’25€0.16
€0.22
+38.1%
16.6%€0.30€0.17n/a13
Jun ’25€0.19
€0.22
+16.1%
17.2%€0.29€0.17n/a12
May ’25€0.18
€0.20
+12.7%
31.6%€0.33€0.13n/a11
Apr ’25€0.17
€0.22
+27.8%
34.5%€0.37€0.13n/a13
Mar ’25€0.14
€0.23
+63.6%
37.8%€0.38€0.13n/a13
Feb ’25€0.10
€0.25
+135.9%
32.8%€0.38€0.13n/a14
Jan ’25€0.14
€0.26
+78.4%
28.9%€0.46€0.18n/a15
Dec ’24€0.16
€0.31
+96.3%
66.8%€1.08€0.19n/a16
Nov ’24€0.18
€0.37
+99.8%
56.1%€1.08€0.22€0.2516
Oct ’24€0.19
€0.37
+96.7%
56.2%€1.08€0.22€0.2016
Sep ’24€0.20
€0.37
+83.2%
53.8%€1.06€0.23€0.1516
Aug ’24€0.26
€0.37
+43.5%
54.0%€1.06€0.23€0.1316
Jul ’24€0.22
€0.38
+71.1%
53.2%€1.06€0.23€0.1615
Jun ’24€0.21
€0.39
+87.4%
50.9%€1.10€0.26€0.1916
May ’24€0.37
€0.35
-7.6%
30.8%€0.58€0.19€0.1815
Apr ’24€0.35
€0.33
-6.1%
27.5%€0.55€0.19€0.1715
Mar ’24€0.34
€0.39
+14.8%
57.2%€1.18€0.19€0.1416
Feb ’24€0.37
€0.42
+12.9%
64.6%€1.17€0.20€0.1017
Jan ’24€0.29
€0.41
+43.9%
65.4%€1.17€0.20€0.1417
Dec ’23€0.24
€0.41
+68.9%
65.3%€1.16€0.20€0.1617
Nov ’23€0.19
€0.44
+132.0%
63.0%€1.19€0.20€0.1817

Analyst Forecast: Target price is less than 20% higher than the current share price.

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