Calfrac Well Services Ltd.

DB:5CFA Stock Report

Market Cap: €235.0m

Calfrac Well Services Valuation

Is 5CFA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • 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 5CFA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 5CFA (€2.72) is trading below our estimate of fair value (€4.23)

Significantly Below Fair Value: 5CFA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 5CFA?

Key metric: As 5CFA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 5CFA. This is calculated by dividing 5CFA's market cap by their current earnings.
What is 5CFA's PE Ratio?
PE Ratio12.2x
EarningsCA$28.16m
Market CapCA$344.90m

Price to Earnings Ratio vs Peers

How does 5CFA's PE Ratio compare to its peers?

The above table shows the PE ratio for 5CFA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.4x
DR0 Deutsche Rohstoff
2.8x-8.9%€165.6m
ETG EnviTec Biogas
9xn/a€448.5m
VH2 Friedrich Vorwerk Group
19.8x12.9%€557.0m
4DS Daldrup & Söhne
22x9.2%€47.9m
5CFA Calfrac Well Services
12.2x36.9%€344.9m

Price-To-Earnings vs Peers: 5CFA is good value based on its Price-To-Earnings Ratio (12.2x) compared to the peer average (13.4x).

Price to Earnings Ratio vs Industry

How does 5CFA's PE Ratio compare vs other companies in the European Energy Services Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
5CFA 12.2xIndustry Avg. 9.5xNo. of Companies7PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 5CFA is expensive based on its Price-To-Earnings Ratio (12.2x) compared to the European Energy Services industry average (9.4x).

Price to Earnings Ratio vs Fair Ratio

What is 5CFA'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.

5CFA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.2x
Fair PE Ratio24.1x

Price-To-Earnings vs Fair Ratio: 5CFA is good value based on its Price-To-Earnings Ratio (12.2x) compared to the estimated Fair Price-To-Earnings Ratio (24.1x).

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 5CFA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.72
€3.40
+24.9%
10.1%€3.84€3.01n/a3
Nov ’25€2.44
€3.46
+42.0%
4.6%€3.69€3.35n/a3
Oct ’25€2.46
€3.46
+40.6%
4.6%€3.68€3.35n/a3
Sep ’25€2.68
€3.53
+31.5%
8.8%€3.97€3.30n/a3
Aug ’25€2.84
€3.34
+17.6%
8.2%€3.67€3.01n/a3
Jul ’25€2.84
€3.53
+24.1%
12.1%€4.09€3.07n/a3
Jun ’25€2.74
€3.43
+25.2%
12.3%€4.07€3.05n/a4
May ’25€3.00
€3.75
+24.9%
6.4%€4.09€3.41n/a4
Apr ’25€2.66
€3.73
+40.2%
6.4%€4.07€3.39n/a4
Mar ’25€3.30
€5.03
+52.3%
21.1%€6.81€4.09n/a4
Feb ’25€3.48
€5.16
+48.4%
19.4%€6.88€4.47n/a4
Jan ’25€2.98
€5.31
+78.1%
18.5%€6.85€4.45n/a4
Dec ’24€3.00
€5.35
+78.3%
17.0%€6.79€4.41n/a4
Nov ’24€3.48
€5.28
+51.8%
12.6%€6.24€4.50€2.444
Oct ’24€3.86
€5.40
+39.8%
11.6%€6.27€4.53€2.464
Sep ’24€4.04
€5.26
+30.3%
11.6%€6.11€4.42€2.684
Aug ’24€3.58
€5.05
+41.1%
21.1%€6.16€3.42€2.844
Jul ’24€2.62
€5.66
+115.9%
23.2%€7.66€4.18€2.844
Jun ’24€2.78
€5.99
+115.5%
19.6%€7.49€4.08€2.745
May ’24€2.64
€6.12
+132.0%
17.6%€7.83€4.76€3.005
Apr ’24€2.70
€6.56
+143.1%
14.4%€8.12€5.41€2.665
Mar ’24€3.82
€7.78
+103.7%
21.3%€9.61€5.83€3.306
Feb ’24€4.32
€7.78
+80.1%
21.3%€9.61€5.83€3.486
Jan ’24€4.14
€7.73
+86.7%
21.2%€9.76€5.58€2.986
Dec ’23€4.90
€7.98
+62.8%
21.2%€10.08€5.76€3.006
Nov ’23€5.55
€5.82
+4.9%
30.1%€8.92€4.09€3.486

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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