Pinetree Capital Valuation

Q: What is the Fair Price of PI1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

PI1 (€7) is trading above our estimate of [[fair value]] (€6.55)

Is PI1 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-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PI1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PI1 (€7) is trading above our estimate of fair value (€6.55)

Significantly Below Fair Value: PI1 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PI1?

Key metric: As PI1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PI1. This is calculated by dividing PI1's market cap by their current earnings.
What is PI1's PE Ratio?
PE Ratio	5.2x
Earnings	CA$18.94m
Market Cap	CA$98.09m

PI1 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	4.8x
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does PI1's PE Ratio compare to its peers?

The above table shows the PE ratio for PI1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	46x
CAG0 Clere	32.6x	n/a	€91.9m
GY0 Perception Capital IV	13.1x	n/a	€65.1m
NF4 Netfonds	133.8x	67.0%	€91.3m
D77 Neon Equity	4.5x	n/a	€92.5m
PI1 Pinetree Capital	5.2x	n/a	€98.1m

Price-To-Earnings vs Peers: PI1 is good value based on its Price-To-Earnings Ratio (5.2x) compared to the peer average (46x).

Price to Earnings Ratio vs Industry

How does PI1's PE Ratio compare vs other companies in the DE Capital Markets Industry?

4 Companies	Price / Earnings	Estimated Growth	Market Cap
AR4 AURELIUS Equity Opportunities SE KGaA	3.9x	n/a	US$413.77m
HXCK Ernst Russ	3.7x	-18.2%	US$205.53m
VG8 Varengold Bank	1.9x	n/a	US$24.20m
XE8 Black Sea Property	0.7x	n/a	US$7.73m

No more companies available in this PE range

4 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: PI1 is good value based on its Price-To-Earnings Ratio (5.2x) compared to the German Capital Markets industry average (20.3x).

Price to Earnings Ratio vs Fair Ratio

What is PI1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PI1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	5.2x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate PI1's Price-To-Earnings 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.

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