pferdewetten.de Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 EMH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EMH (€4.26) is trading below our estimate of fair value (€33.89)

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


Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for EMH. This is calculated by dividing EMH's market cap by their current revenue.
What is EMH's PS Ratio?
PS Ratio1.2x
Sales€19.98m
Market Cap€23.86m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for EMH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.1x
ACX bet-at-home.com
0.4x9.0%€17.5m
TIMA ZEAL Network
6.4x14.1%€965.9m
NHB0 Nebelhornbahn-Aktiengesellschaft
1.5xn/a€22.6m
MS1 Marley Spoon Group
0.1x10.0%€20.7m
EMH pferdewetten.de
1.2x27.3%€23.9m

Price-To-Sales vs Peers: EMH is good value based on its Price-To-Sales Ratio (1.2x) compared to the peer average (2.1x).


Price to Sales Ratio vs Industry

How does EMH's PS Ratio compare vs other companies in the DE Hospitality Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
MS1 Marley Spoon Group
0.1x10.0%US$21.87m
EAD Erlebnis Akademie
0.004x-73.6%US$7.56m
9UX Hostmore
0.0006xn/aUS$138.43k
No more companies available in this PS range
EMH 1.2xIndustry Avg. 1.1xNo. of Companies3PS00.61.21.82.43+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: EMH is expensive based on its Price-To-Sales Ratio (1.2x) compared to the European Hospitality industry average (1.1x).


Price to Sales Ratio vs Fair Ratio

What is EMH'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.

EMH PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.2x
Fair PS Ratio0.9x

Price-To-Sales vs Fair Ratio: EMH is expensive based on its Price-To-Sales Ratio (1.2x) compared to the estimated Fair Price-To-Sales Ratio (0.9x).


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 EMH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.26
€13.00
+205.2%
22.6%€17.00€10.00n/a3
Dec ’25€4.54
€13.00
+186.3%
22.6%€17.00€10.00n/a3
Nov ’25€5.95
€15.50
+160.5%
9.7%€17.00€14.00n/a2
Oct ’25€6.85
€17.67
+157.9%
18.7%€22.00€14.00n/a3
Sep ’25€7.25
€18.33
+152.9%
14.3%€22.00€16.00n/a3
Aug ’25€7.30
€19.67
+169.4%
13.3%€22.00€16.00n/a3
Jul ’25€8.20
€19.67
+139.8%
13.3%€22.00€16.00n/a3
Jun ’25€10.90
€19.67
+80.4%
13.3%€22.00€16.00n/a3
May ’25€11.40
€20.67
+81.3%
6.0%€22.00€19.00n/a3
Apr ’25€13.20
€20.67
+56.6%
6.0%€22.00€19.00n/a3
Mar ’25€11.70
€20.50
+75.2%
2.4%€21.00€20.00n/a2
Feb ’25€11.20
€18.15
+62.1%
10.2%€20.00€16.30n/a2
Jan ’25€12.30
€18.15
+47.6%
10.2%€20.00€16.30n/a2
Dec ’24€12.20
€18.15
+48.8%
10.2%€20.00€16.30€4.542
Nov ’24€11.80
€18.65
+58.1%
12.6%€21.00€16.30€5.952
Oct ’24€12.20
€18.65
+52.9%
12.6%€21.00€16.30€6.852
Aug ’24€10.90
€17.00
+56.0%
11.8%€19.00€15.00€7.302
Jul ’24€10.90
€17.00
+56.0%
11.8%€19.00€15.00€8.202
Jun ’24€11.20
€17.00
+51.8%
11.8%€19.00€15.00€10.902
May ’24€10.60
€17.00
+60.4%
11.8%€19.00€15.00€11.402
Apr ’24€10.80
€19.00
+75.9%
18.4%€22.50€15.50€13.202
Mar ’24€10.30
€19.00
+84.5%
18.4%€22.50€15.50€11.702
Feb ’24€10.10
€19.00
+88.1%
18.4%€22.50€15.50€11.202
Jan ’24€10.35
€19.00
+83.6%
18.4%€22.50€15.50€12.302
Dec ’23€9.86
€19.00
+92.7%
18.4%€22.50€15.50€12.202

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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