Logistics Development Group Valuation

Q: What is the Fair Price of 9ES when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

9ES (€0.12) is trading above our estimate of [[fair value]] (€0.01)

Is 9ES 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 9ES when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9ES (€0.12) is trading above our estimate of fair value (€0.01)

Significantly Below Fair Value: 9ES is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9ES?

Key metric: As 9ES is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 9ES. This is calculated by dividing 9ES's market cap by their current book value.
What is 9ES's PB Ratio?
PB Ratio	0.6x
Book	UK£99.03m
Market Cap	UK£60.30m

9ES 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 9ES's PB Ratio compare to its peers?

The above table shows the PB ratio for 9ES 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	1.8x
B7E Blue Cap	0.9x	22.4%	€72.7m
A7A Heliad	1.1x	148.4%	€77.4m
NF4 Netfonds	4.5x	67.0%	€91.3m
CAG0 Clere	0.7x	n/a	€91.9m
9ES Logistics Development Group	0.6x	n/a	€60.3m

Price-To-Book vs Peers: 9ES is good value based on its Price-To-Book Ratio (0.6x) compared to the peer average (1.8x).

Price to Book Ratio vs Industry

How does 9ES's PB Ratio compare vs other companies in the DE Capital Markets Industry?

6 Companies	Price / Book	Estimated Growth	Market Cap
XE8 Black Sea Property	0.1x	n/a	US$7.73m
FNZA China Finance Online	0.1x	n/a	US$1.21m
LEH Lehner Investments	0.1x	n/a	US$1.10m
WD0 Smart Valor	0.06x	n/a	US$346.66k

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: 9ES is good value based on its Price-To-Book Ratio (0.6x) compared to the German Capital Markets industry average (1.1x).

Price to Book Ratio vs Fair Ratio

What is 9ES'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.

9ES PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	0.6x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 9ES'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?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Pepper Money

AU$581.0m

Operates as a non-bank lender in the mortgage and asset finance markets in Australia and New Zealand.

X95

AU$0.80

-1.9%

13.6%

Yeahka

HK$4.2b

An investment holding company, provides payment and business services to merchants and consumers in the People’s Republic of China.

4YE

HK$1.18

-6.3%

-27.2%

ORIX

JP¥3.8t

Provides diversified financial services in Japan, the United States, Asia, Europe, Australasia, and the Middle East.

OIX

JP¥20.40

22.9%