Teladoc Health, Inc.

DB:4LL Stock Report

Market Cap: €1.5b

Teladoc Health Valuation

Is 4LL 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-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 4LL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4LL (€8.38) is trading below our estimate of fair value (€25.91)

Significantly Below Fair Value: 4LL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4LL?

Key metric: As 4LL is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 4LL. This is calculated by dividing 4LL's market cap by their current revenue.
What is 4LL's PS Ratio?
PS Ratio0.6x
SalesUS$2.59b
Market CapUS$1.59b

Price to Sales Ratio vs Peers

How does 4LL's PS Ratio compare to its peers?

The above table shows the PS ratio for 4LL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.1x
NXU Nexus
4.5x9.8%€1.2b
COP CompuGroup Medical SE KGaA
0.6x1.4%€729.5m
M3V MeVis Medical Solutions
2.5xn/a€44.0m
AJ91 DocCheck
0.8xn/a€43.9m
4LL Teladoc Health
0.6x0.8%€1.6b

Price-To-Sales vs Peers: 4LL is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (2.1x).

Price to Sales Ratio vs Industry

How does 4LL's PS Ratio compare vs other companies in the European Healthcare Services Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
4LL 0.6xIndustry Avg. 2.3xNo. of Companies11PS0246810+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 4LL is good value based on its Price-To-Sales Ratio (0.6x) compared to the European Healthcare Services industry average (2.3x).

Price to Sales Ratio vs Fair Ratio

What is 4LL'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.

4LL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio2.1x

Price-To-Sales vs Fair Ratio: 4LL is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (2.1x).

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 4LL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€8.38
€10.09
+20.4%
16.0%€13.30€7.60n/a21
Nov ’25€8.53
€9.56
+12.1%
15.5%€12.87€7.36n/a20
Oct ’25€8.11
€8.94
+10.3%
20.3%€15.28€7.19n/a20
Sep ’25€6.50
€8.72
+34.2%
21.0%€15.19€7.15n/a21
Aug ’25€7.70
€11.47
+49.0%
36.9%€23.17€7.41n/a21
Jul ’25€8.88
€15.44
+73.8%
24.0%€23.36€9.34n/a21
Jun ’25€10.29
€15.45
+50.2%
22.5%€23.05€9.22n/a21
May ’25€12.27
€16.21
+32.1%
19.1%€23.32€11.19n/a22
Apr ’25€14.09
€18.75
+33.1%
17.8%€25.79€14.74n/a22
Mar ’25€13.91
€18.94
+36.2%
17.7%€25.84€14.76n/a21
Feb ’25€18.11
€21.07
+16.4%
18.7%€31.11€14.64n/a20
Jan ’25€19.86
€20.90
+5.3%
20.8%€31.17€14.67n/a19
Dec ’24€17.09
€20.90
+22.3%
20.8%€31.17€14.67n/a19
Nov ’24€15.72
€22.24
+41.5%
21.9%€32.13€15.12€8.5319
Oct ’24€17.75
€28.12
+58.4%
16.1%€38.08€19.04€8.1119
Sep ’24€21.44
€27.36
+27.6%
13.8%€36.35€22.72€6.5021
Aug ’24€25.67
€27.34
+6.5%
14.0%€36.38€22.74€7.7021
Jul ’24€22.84
€27.83
+21.9%
12.6%€36.68€22.93€8.8822
Jun ’24€22.38
€27.49
+22.8%
12.5%€36.18€22.61€10.2922
May ’24€24.14
€27.50
+13.9%
13.0%€36.30€20.87€12.2722
Apr ’24€23.38
€28.27
+20.9%
13.8%€37.59€21.62€14.0921
Mar ’24€24.85
€29.38
+18.2%
13.2%€37.81€23.63€13.9121
Feb ’24€28.02
€29.65
+5.8%
14.9%€41.41€22.09€18.1122
Jan ’24€22.21
€30.73
+38.4%
14.6%€42.12€22.46€19.8624
Dec ’23€27.08
€31.92
+17.9%
14.6%€43.58€23.24€17.0924
Nov ’23€29.91
€33.45
+11.8%
14.6%€45.56€24.30€15.7224

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

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