Electra Battery Materials Corporation

DB:18P Stock Report

Market Cap: €27.3m

Electra Battery Materials Valuation

Is 18P 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-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 18P when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 18P (€0.44) is trading below our estimate of fair value (€4.56)

Significantly Below Fair Value: 18P is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 18P?

Key metric: As 18P is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 18P. This is calculated by dividing 18P's market cap by their current book value.
What is 18P's PB Ratio?
PB Ratio0.6x
BookCA$65.49m
Market CapCA$40.16m

Price to Book Ratio vs Peers

How does 18P's PB Ratio compare to its peers?

The above table shows the PB ratio for 18P vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average27.3x
M0LY Greenland Resources
45.3xn/a€69.4m
W2C IberAmerican Lithium
27.6xn/a€821.3k
PNX Pasinex Resources
35.8xn/a€1.4m
DLX Delignit
0.6x27.0%€22.3m
18P Electra Battery Materials
0.6x104.8%€40.2m

Price-To-Book vs Peers: 18P is good value based on its Price-To-Book Ratio (0.6x) compared to the peer average (27.3x).

Price to Book Ratio vs Industry

How does 18P's PB Ratio compare vs other companies in the European Metals and Mining Industry?

23 CompaniesPrice / BookEstimated GrowthMarket Cap
18P 0.6xIndustry Avg. 0.9xNo. of Companies28PB00.61.21.82.43+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: 18P is good value based on its Price-To-Book Ratio (0.6x) compared to the European Metals and Mining industry average (0.9x).

Price to Book Ratio vs Fair Ratio

What is 18P's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

18P PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.6x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 18P's Price-To-Book Fair Ratio for valuation analysis.

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 18P forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.44
€1.56
+259.2%
14.9%€1.80€1.33n/a2
Nov ’25€0.43
€1.56
+266.7%
14.9%€1.80€1.33n/a2
Oct ’25€0.48
€1.55
+226.3%
14.9%€1.78€1.32n/a2
Sep ’25€0.64
€2.47
+286.6%
46.7%€3.63€1.32n/a2
Aug ’25€0.29
€2.50
+749.3%
46.7%€3.66€1.33n/a2
Jul ’25€0.36
€2.56
+613.4%
46.7%€3.75€1.36n/a2
Jun ’25€0.39
€2.56
+559.2%
46.7%€3.75€1.36n/a2
May ’25€0.37
€2.56
+582.9%
46.7%€3.75€1.36n/a2
Apr ’25€0.41
€2.58
+535.6%
46.7%€3.78€1.38n/a2
Mar ’25€0.47
€2.58
+447.9%
46.7%€3.78€1.38n/a2
Feb ’25€0.30
€2.66
+787.7%
36.8%€3.66€1.33n/a3
Jan ’25€0.28
€2.66
+841.0%
36.8%€3.66€1.33n/a3
Dec ’24€0.41
€2.66
+543.3%
36.8%€3.66€1.33n/a3
Nov ’24€0.41
€3.64
+792.3%
50.0%€6.10€1.76€0.433
Oct ’24€0.53
€3.64
+586.0%
50.0%€6.10€1.76€0.483
Sep ’24€0.66
€3.64
+451.7%
50.0%€6.10€1.76€0.643
Aug ’24€1.47
€4.79
+226.4%
43.7%€6.87€2.34€0.294
Jul ’24€0.84
€5.09
+506.3%
38.2%€6.92€2.35€0.364
Jun ’24€0.96
€5.01
+423.4%
37.6%€6.80€2.38€0.394
May ’24€1.64
€6.23
+278.8%
8.6%€6.94€5.55€0.374
Apr ’24€1.77
€6.23
+252.8%
8.6%€6.94€5.55€0.414
Mar ’24€1.86
€6.23
+234.8%
8.6%€6.94€5.55€0.474
Feb ’24€2.16
€6.43
+197.7%
5.1%€6.89€6.20€0.303
Jan ’24€1.51
€6.43
+325.9%
5.1%€6.89€6.20€0.283
Dec ’23€2.15
€6.98
+224.4%
4.9%€7.22€6.49€0.413
Nov ’23€2.97
€7.88
+165.4%
8.3%€8.98€7.26€0.414

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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