Marley Spoon Group Valuation

Q: What is the Fair Price of MS1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

MS1 (€2.4) is trading below our estimate of [[fair value]] (€16.06)

Is MS1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

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

Share Price vs Fair Value

What is the Fair Price of MS1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MS1 (€2.4) is trading below our estimate of fair value (€16.06)

Significantly Below Fair Value: MS1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MS1?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MS1. This is calculated by dividing MS1's market cap by their current preferred multiple.
What is MS1's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	€81.99m

MS1 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	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does MS1's PB Ratio compare to its peers?

The above table shows the PB ratio for MS1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	3x
MTP Münchener Tierpark Hellabrunn	1.1x	n/a	€81.0m
EMH pferdewetten.de	4.9x	73.0%	€62.7m
DHER Delivery Hero	5.1x	91.8%	€8.4b
HTG HomeToGo	0.9x	65.5%	€214.0m
MS1 Marley Spoon Group	n/a	28.5%	€82.0m

Price-To-Book vs Peers: MS1 has negative equity and a Price-To-Book Ratio (-6x) compared to the peer average (3x).

Price to Earnings Ratio vs Industry

How does MS1's PE Ratio compare vs other companies in the European Hospitality Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	65.8%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	65.8%
	n/a	n/a	n/a

No more companies

Price-To-Book vs Industry: MS1 has negative equity and a Price-To-Book Ratio (-6x) compared to the European Hospitality industry average (1.3x).

Price to Book Ratio vs Fair Ratio

What is MS1's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MS1 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	-6x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate MS1's Price-To-Book Fair Ratio for valuation analysis.

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 MS1 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	€2.40	€6.30 +162.5%	3.2%	€6.50	€6.10	n/a	2
May ’25	€2.80	€6.40 +128.6%	1.6%	€6.50	€6.30	n/a	2
Apr ’25	€3.70	€6.35 +71.6%	2.4%	€6.50	€6.20	n/a	2
Mar ’25	€3.30	€6.35 +92.4%	2.4%	€6.50	€6.20	n/a	2
Feb ’25	€2.32	€6.35 +173.7%	2.4%	€6.50	€6.20	n/a	2
Jan ’25	€2.46	€8.50 +245.5%	23.5%	€10.50	€6.50	n/a	2
Dec ’24	€3.42	€8.50 +148.5%	23.5%	€10.50	€6.50	n/a	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.