CoinShares International Limited

DB:3TW Stock Report

Market Cap: €522.1m

CoinShares International Valuation

Is 3TW 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-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 3TW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate 3TW's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate 3TW's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3TW?

Key metric: As 3TW is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 3TW. This is calculated by dividing 3TW's market cap by their current revenue.
What is 3TW's PS Ratio?
PS Ratio5.9x
SalesUK£74.27m
Market CapUK£440.77m

Price to Sales Ratio vs Peers

How does 3TW's PS Ratio compare to its peers?

The above table shows the PS ratio for 3TW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.4x
DBAN Deutsche Beteiligungs
4.1x23.1%€446.8m
MLP MLP
0.7x2.3%€711.1m
MUX Mutares SE KGaA
0.1x10.8%€553.0m
O4B OVB Holding
0.7x3.7%€280.8m
3TW CoinShares International
5.9x15.0%€6.0b

Price-To-Sales vs Peers: 3TW is expensive based on its Price-To-Sales Ratio (5.9x) compared to the peer average (1.4x).

Price to Sales Ratio vs Industry

How does 3TW's PS Ratio compare vs other companies in the DE Capital Markets Industry?

19 CompaniesPrice / SalesEstimated GrowthMarket Cap
MLP MLP
0.7x2.3%US$740.74m
MUX Mutares SE KGaA
0.1x10.8%US$576.01m
AR4 AURELIUS Equity Opportunities SE KGaA
0.2x0.01%US$500.05m
O4B OVB Holding
0.7x3.7%US$292.45m
No. of Companies19PS048121620+
19 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 3TW is expensive based on its Price-To-Sales Ratio (5.9x) compared to the German Capital Markets industry average (2.7x).

Price to Sales Ratio vs Fair Ratio

What is 3TW'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.

3TW PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.9x
Fair PS Ratio3.3x

Price-To-Sales vs Fair Ratio: 3TW is expensive based on its Price-To-Sales Ratio (5.9x) compared to the estimated Fair Price-To-Sales Ratio (3.3x).

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 3TW forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€7.73
€8.81
+13.9%
4.2%€9.37€8.48n/a4
Jan ’26€6.82
€8.73
+28.0%
9.5%€9.54€7.59n/a3
Dec ’25€7.08
€7.87
+11.1%
11.5%€9.08€6.91n/a3
Nov ’25€4.14
€7.87
+90.0%
10.5%€9.04€7.19n/a3
Oct ’25€4.74
€7.96
+68.0%
12.7%€9.39€7.16n/a3
Sep ’25€5.69
€7.96
+39.9%
12.7%€9.39€7.16n/a3
Aug ’25€5.26
€8.12
+54.4%
12.4%€9.75€7.01n/a4
Jul ’25€4.79
€7.49
+56.6%
4.7%€7.82€7.00n/a3
Jun ’25€5.68
€7.27
+27.9%
3.7%€7.56€6.91n/a3
May ’25€4.58
€6.14
+34.2%
19.6%€7.34€4.94n/a2
Apr ’25€4.80
€6.14
+27.9%
19.6%€7.34€4.94n/a2
Mar ’25€4.35
€6.22
+42.9%
20.2%€7.47€4.96n/a2
Feb ’25€3.37
€6.13
+82.1%
19.6%€7.33€4.92n/a2
Jan ’25€3.47
€6.13
+76.6%
19.6%€7.33€4.92€6.822
Dec ’24€3.25
€6.13
+88.5%
19.6%€7.33€4.92€7.082
Nov ’24€3.33
€5.97
+79.2%
19.4%€7.12€4.81€4.142
Oct ’24€3.63
€5.97
+64.4%
19.4%€7.12€4.81€4.742
Sep ’24€4.12
€5.97
+45.0%
19.4%€7.12€4.81€5.692
Aug ’24€4.10
€5.26
+28.4%
29.1%€6.79€3.73€5.262
Jul ’24€3.40
€5.26
+55.1%
29.1%€6.79€3.73€4.792
Jun ’24€2.89
€5.38
+86.0%
31.0%€7.04€3.71€5.682
May ’24€2.64
€5.36
+103.2%
30.0%€6.96€3.75€4.582
Apr ’24€2.95
€5.36
+81.8%
30.0%€6.96€3.75€4.802
Jan ’24€1.67
€5.91
+253.7%
8.0%€6.38€5.43€3.472
Analyst Price Target
Consensus Narrative from 4 Analysts
€8.56
Fair Value
9.7% undervalued intrinsic discount
4
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/21 07:48
End of Day Share Price 2025/01/21 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

CoinShares International Limited is covered by 5 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
null nullABG Sundal Collier Sponsored
Mark PalmerBTIG