Delcath Systems, Inc.

BST:DV3R Stock Report

Market Cap: €376.4m

Delcath Systems Valuation

Is DV3R undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 DV3R when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€212.24
Fair Value
94.5% undervalued intrinsic discount
6
Number of Analysts

Below Fair Value: DV3R (€11.7) is trading below our estimate of fair value (€212.24)

Significantly Below Fair Value: DV3R is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DV3R?

Key metric: As DV3R is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for DV3R. This is calculated by dividing DV3R's market cap by their current revenue.
What is DV3R's PS Ratio?
PS Ratio16.2x
SalesUS$22.64m
Market CapUS$385.60m

Price to Sales Ratio vs Peers

How does DV3R's PS Ratio compare to its peers?

The above table shows the PS ratio for DV3R vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.2x
SBS Stratec
1.4x7.4%€353.1m
EUZ Eckert & Ziegler
3.6x5.4%€1.0b
DRW3 Drägerwerk KGaA
0.3x3.3%€852.5m
PUS PULSION Medical Systems
3.7xn/a€131.9m
DV3R Delcath Systems
16.2x33.7%€385.6m

Price-To-Sales vs Peers: DV3R is expensive based on its Price-To-Sales Ratio (16.2x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

How does DV3R's PS Ratio compare vs other companies in the DE Medical Equipment Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
DRW3 Drägerwerk KGaA
0.3x3.3%US$872.83m
PHH2 Paul Hartmann
0.3xn/aUS$825.99m
U4W0 Quotient
0.07xn/aUS$2.78m
MF6 MagForce
0.3xn/aUS$404.27k
No more companies available in this PS range
DV3R 16.2xIndustry Avg. 3.7xNo. of Companies4PS01.63.24.86.48+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: DV3R is expensive based on its Price-To-Sales Ratio (16.2x) compared to the European Medical Equipment industry average (3.7x).

Price to Sales Ratio vs Fair Ratio

What is DV3R'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.

DV3R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio16.2x
Fair PS Ratio8.8x

Price-To-Sales vs Fair Ratio: DV3R is expensive based on its Price-To-Sales Ratio (16.2x) compared to the estimated Fair Price-To-Sales Ratio (8.8x).

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 DV3R forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€11.70
€20.30
+73.5%
10.0%€23.79€17.13n/a6
Jan ’26€11.30
€20.30
+79.7%
10.0%€23.79€17.13n/a6
Dec ’25€10.50
€19.90
+89.6%
10.0%€23.33€16.79n/a6
Nov ’25€9.55
€19.70
+106.3%
10.0%€23.09€16.62n/a6
Oct ’25€7.90
€19.07
+141.4%
10.0%€22.35€16.09n/a6
Sep ’25€9.75
€19.07
+95.6%
10.0%€22.35€16.09n/a6
Aug ’25€7.85
€19.29
+145.8%
14.2%€23.34€14.94n/a6
Jul ’25€7.65
€19.29
+152.2%
14.2%€23.34€14.94n/a6
Jun ’25€6.10
€19.48
+219.4%
13.8%€22.98€14.70n/a5
May ’25€4.86
€18.24
+275.4%
11.5%€20.32€14.78n/a4
Apr ’25€4.46
€18.24
+309.0%
11.5%€20.32€14.78n/a4
Mar ’25€3.82
€17.71
+363.6%
12.4%€20.24€14.72n/a4
Feb ’25€4.38
€17.71
+304.3%
12.4%€20.24€14.72n/a4
Jan ’25€3.72
€17.60
+373.2%
12.4%€20.12€14.63€11.304
Dec ’24€2.50
€16.55
+561.9%
18.3%€20.22€11.95€10.505
Nov ’24€2.90
€17.58
+506.1%
17.0%€20.57€12.15€9.555
Oct ’24€3.84
€17.58
+357.7%
17.0%€20.57€12.15€7.905
Sep ’24€4.12
€16.74
+306.2%
16.4%€20.23€11.95€9.755
Aug ’24€3.94
€14.59
+270.2%
25.2%€19.57€8.89€7.855
Jul ’24€5.20
€15.24
+193.1%
25.2%€20.45€9.29€7.655
Jun ’24€6.85
€15.24
+122.5%
25.2%€20.45€9.29€6.105
May ’24€4.98
€15.12
+203.6%
25.2%€20.28€9.22€4.865
Apr ’24€5.35
€15.12
+182.6%
25.2%€20.28€9.22€4.465
Mar ’24€4.50
€16.12
+258.3%
19.4%€20.39€12.05€3.825
Feb ’24€3.34
€16.12
+382.8%
19.4%€20.39€12.05€4.385
Jan ’24€3.00
€16.86
+461.8%
19.4%€21.31€12.59€3.725
Analyst Price Target
Consensus Narrative from 6 Analysts
€21.74
Fair Value
46.2% undervalued intrinsic discount
6
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/10 01:15
End of Day Share Price 2025/01/10 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

Delcath Systems, Inc. is covered by 12 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael GormanBTIG
Marie ThibaultBTIG
William MaughanCanaccord Genuity