Accolade, Inc.

DB:4NE1 Stock Report

Market Cap: €286.2m

Accolade Valuation

Is 4NE1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 4NE1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4NE1 (€3.5) is trading below our estimate of fair value (€51.41)

Significantly Below Fair Value: 4NE1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4NE1?

Key metric: As 4NE1 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 4NE1. This is calculated by dividing 4NE1's market cap by their current revenue.
What is 4NE1's PS Ratio?
PS Ratio0.7x
SalesUS$441.03m
Market CapUS$297.99m

Price to Sales Ratio vs Peers

How does 4NE1's PS Ratio compare to its peers?

The above table shows the PS ratio for 4NE1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.7x
V3V VITA 34
0.9x2.9%€72.5m
SYAB SYNLAB
1x4.4%€2.5b
ILM1 Medios
0.2x6.1%€334.7m
M12 M1 Kliniken
0.9x8.2%€307.1m
4NE1 Accolade
0.7x11.4%€298.0m

Price-To-Sales vs Peers: 4NE1 is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does 4NE1's PS Ratio compare vs other companies in the DE Healthcare Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
TLIK Arzneiwerk VIDA
0.08xn/aUS$4.70m
No more companies available in this PS range
4NE1 0.7xIndustry Avg. 0.6xNo. of Companies3PS00.40.81.21.62+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 4NE1 is expensive based on its Price-To-Sales Ratio (0.7x) compared to the European Healthcare industry average (0.6x).

Price to Sales Ratio vs Fair Ratio

What is 4NE1'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.

4NE1 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.7x
Fair PS Ratio1.2x

Price-To-Sales vs Fair Ratio: 4NE1 is good value based on its Price-To-Sales Ratio (0.7x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).

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 4NE1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€3.50
€6.51
+86.1%
19.1%€8.73€4.60n/a13
Nov ’25€2.88
€6.48
+125.0%
19.1%€8.69€4.57n/a13
Oct ’25€3.42
€7.48
+118.8%
25.7%€11.74€4.82n/a15
Sep ’25€3.86
€7.33
+90.0%
27.4%€11.79€4.54n/a16
Aug ’25€3.76
€7.72
+105.2%
26.2%€12.14€4.67n/a15
Jul ’25€3.30
€7.72
+133.8%
26.2%€12.14€4.67n/a15
Jun ’25€6.60
€12.16
+84.3%
15.4%€14.89€9.31n/a15
May ’25€7.65
€12.44
+62.6%
16.8%€15.86€9.33n/a15
Apr ’25€9.15
€13.89
+51.8%
12.0%€16.59€11.06n/a15
Mar ’25€9.40
€13.89
+47.7%
12.0%€16.59€11.06n/a15
Feb ’25€10.40
€13.80
+32.7%
12.3%€16.56€11.04n/a14
Jan ’25€11.50
€13.55
+17.8%
15.3%€15.59€9.17n/a13
Dec ’24€7.95
€13.64
+71.5%
14.9%€15.61€9.19n/a13
Nov ’24€6.05
€14.21
+134.8%
13.6%€16.02€9.42€2.8813
Oct ’24€10.00
€15.45
+54.5%
10.5%€17.79€13.11€3.4213
Sep ’24€12.30
€14.88
+20.9%
10.8%€17.41€12.83€3.8615
Aug ’24€13.50
€14.88
+10.2%
10.8%€17.41€12.83€3.7615
Jul ’24€12.90
€14.88
+15.3%
10.8%€17.41€12.83€3.3015
Jun ’24€11.20
€14.15
+26.3%
10.9%€16.39€11.84€6.6015
May ’24€11.80
€14.10
+19.5%
10.9%€16.34€11.80€7.6515
Apr ’24€12.30
€12.68
+3.1%
13.9%€15.67€9.22€9.1514
Mar ’24€10.30
€12.29
+19.3%
12.0%€13.97€9.32€9.4013
Feb ’24€10.60
€11.87
+12.0%
12.3%€13.65€9.10€10.4013
Jan ’24€7.10
€14.35
+102.1%
14.2%€17.51€10.30€11.5014
Dec ’23€8.40
€14.35
+70.8%
14.2%€17.51€10.30€7.9514
Nov ’23€10.80
€14.35
+32.8%
14.2%€17.51€10.30€6.0514

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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