Cytosorbents Corporation

DB:HQE1 Stock Report

Market Cap: €48.5m

Cytosorbents Valuation

Is HQE1 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 HQE1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HQE1 (€0.86) is trading below our estimate of fair value (€44.92)

Significantly Below Fair Value: HQE1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HQE1?

Key metric: As HQE1 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HQE1. This is calculated by dividing HQE1's market cap by their current revenue.
What is HQE1's PS Ratio?
PS Ratio1.3x
SalesUS$37.74m
Market CapUS$50.85m

Price to Sales Ratio vs Peers

How does HQE1's PS Ratio compare to its peers?

The above table shows the PS ratio for HQE1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2x
AAQ1 aap Implantate
1.9xn/a€22.4m
GME Geratherm Medical
1x1.9%€21.0m
PUS PULSION Medical Systems
3.8xn/a€134.4m
SBS Stratec
1.3x7.7%€334.9m
HQE1 Cytosorbents
1.3x22.3%€50.9m

Price-To-Sales vs Peers: HQE1 is good value based on its Price-To-Sales Ratio (1.3x) compared to the peer average (2x).

Price to Sales Ratio vs Industry

How does HQE1's PS Ratio compare vs other companies in the DE Medical Equipment Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
DRW3 Drägerwerk KGaA
0.2x4.2%US$830.14m
PHH2 Paul Hartmann
0.3xn/aUS$781.42m
U4W0 Quotient
0.07xn/aUS$2.78m
MF6 MagForce
0.3xn/aUS$404.27k
No more companies available in this PS range
HQE1 1.3xIndustry Avg. 3.7xNo. of Companies4PS01.63.24.86.48+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HQE1 is good value based on its Price-To-Sales Ratio (1.3x) compared to the European Medical Equipment industry average (3.7x).

Price to Sales Ratio vs Fair Ratio

What is HQE1'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.

HQE1 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.3x
Fair PS Ratio1.9x

Price-To-Sales vs Fair Ratio: HQE1 is good value based on its Price-To-Sales Ratio (1.3x) compared to the estimated Fair Price-To-Sales Ratio (1.9x).

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 HQE1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.86
€4.76
+454.3%
74.8%€9.51€0.95n/a3
Nov ’25€0.91
€4.57
+403.0%
74.8%€9.15€0.91n/a3
Oct ’25€1.32
€4.07
+208.9%
74.5%€9.03€0.90n/a4
Sep ’25€0.89
€4.09
+358.0%
74.5%€9.08€0.91n/a4
Aug ’25€1.08
€4.16
+285.0%
74.5%€9.24€0.92n/a4
Jul ’25€0.66
€2.45
+270.8%
46.8%€3.68€0.92n/a3
Jun ’25€0.78
€2.45
+212.6%
46.8%€3.68€0.92n/a3
May ’25€0.72
€2.46
+240.3%
46.8%€3.69€0.92n/a3
Apr ’25€0.81
€2.45
+201.4%
46.8%€3.68€0.92n/a3
Mar ’25€0.86
€2.45
+185.6%
46.8%€3.68€0.92n/a3
Feb ’25€0.91
€2.45
+170.8%
46.8%€3.68€0.92n/a3
Jan ’25€0.92
€4.08
+341.1%
55.3%€7.25€0.91n/a5
Dec ’24€1.07
€5.15
+380.2%
27.3%€7.35€3.68n/a5
Nov ’24€1.36
€5.61
+311.9%
21.7%€7.48€3.74€0.915
Oct ’24€1.73
€5.61
+224.2%
21.7%€7.48€3.74€1.325
Sep ’24€2.37
€5.94
+150.7%
14.4%€7.31€5.03€0.894
Aug ’24€3.22
€6.08
+89.2%
14.4%€7.49€5.15€1.084
Jul ’24€3.18
€6.08
+91.6%
14.4%€7.49€5.15€0.664
Jun ’24€2.74
€6.08
+122.0%
14.4%€7.49€5.15€0.784
May ’24€2.19
€6.08
+178.4%
14.4%€7.49€5.15€0.724
Apr ’24€3.09
€6.08
+96.9%
14.4%€7.49€5.15€0.814
Mar ’24€2.98
€6.08
+104.0%
14.4%€7.49€5.15€0.864
Feb ’24€2.64
€6.69
+153.6%
15.4%€8.03€5.52€0.913
Jan ’24€1.29
€6.69
+419.9%
15.4%€8.03€5.52€0.923
Dec ’23€1.30
€6.69
+416.1%
15.4%€8.03€5.52€1.073
Nov ’23€1.89
€8.03
+325.4%
7.6%€8.85€7.37€1.363

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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