Believe S.A.

DB:8T6 Stock Report

Market Cap: €1.4b

Believe Valuation

Is 8T6 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 8T6 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 8T6 (€13.9) is trading below our estimate of fair value (€36.94)

Significantly Below Fair Value: 8T6 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8T6?

Key metric: As 8T6 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 8T6. This is calculated by dividing 8T6's market cap by their current revenue.
What is 8T6's PS Ratio?
PS Ratio1.5x
Sales€939.03m
Market Cap€1.39b

Price to Sales Ratio vs Peers

How does 8T6's PS Ratio compare to its peers?

The above table shows the PS ratio for 8T6 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.1x
BVB Borussia Dortmund GmbH Kommanditgesellschaft auf Aktien
0.6x0.8%€351.0m
EVD CTS Eventim KGaA
3x6.8%€7.9b
EDL Edel SE KGaA
0.4x2.1%€95.3m
LOU DEAG Deutsche Entertainment
0.2xn/a€92.0m
8T6 Believe
1.5x12.9%€1.4b

Price-To-Sales vs Peers: 8T6 is expensive based on its Price-To-Sales Ratio (1.5x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

How does 8T6's PS Ratio compare vs other companies in the European Entertainment Industry?

38 CompaniesPrice / SalesEstimated GrowthMarket Cap
8T6 1.5xIndustry Avg. 1.5xNo. of Companies38PS01.63.24.86.48+
38 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 8T6 is good value based on its Price-To-Sales Ratio (1.5x) compared to the European Entertainment industry average (1.5x).

Price to Sales Ratio vs Fair Ratio

What is 8T6'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.

8T6 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.5x
Fair PS Ratio1.6x

Price-To-Sales vs Fair Ratio: 8T6 is good value based on its Price-To-Sales Ratio (1.5x) compared to the estimated Fair Price-To-Sales Ratio (1.6x).

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 8T6 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€13.90
€15.63
+12.5%
12.7%€18.30€12.50n/a6
Dec ’25€14.60
€15.63
+7.1%
12.7%€18.30€12.50n/a6
Nov ’25€14.80
€15.63
+5.6%
12.7%€18.30€12.50n/a6
Oct ’25€14.70
€15.40
+4.8%
12.5%€18.30€12.50n/a7
Sep ’25€14.76
€15.40
+4.3%
12.5%€18.30€12.50n/a7
Aug ’25€13.58
€15.80
+16.3%
12.1%€19.10€13.50n/a7
Jul ’25€14.50
€15.84
+9.3%
11.1%€19.10€13.50n/a9
Jun ’25€14.84
€16.01
+7.9%
9.9%€19.10€14.00n/a9
May ’25€14.78
€17.31
+17.1%
24.1%€29.00€14.00n/a10
Apr ’25€16.44
€17.61
+7.1%
23.9%€29.00€14.00n/a10
Mar ’25€14.80
€16.92
+14.3%
26.1%€29.00€11.60n/a10
Feb ’25€11.00
€16.06
+46.0%
29.5%€29.00€11.00n/a11
Jan ’25€10.46
€16.15
+54.4%
28.9%€29.00€11.00n/a11
Dec ’24€9.99
€16.14
+61.5%
29.0%€29.00€11.00€14.6011
Nov ’24€9.36
€16.17
+72.8%
28.7%€29.00€11.00€14.8011
Oct ’24€8.57
€16.42
+91.6%
28.2%€29.00€11.00€14.7011
Sep ’24€9.37
€16.42
+75.2%
28.2%€29.00€11.00€14.7611
Aug ’24€10.78
€17.13
+58.9%
25.4%€29.00€11.50€13.5811
Jul ’24€10.98
€17.14
+56.1%
25.4%€29.00€11.50€14.5011
Jun ’24€10.92
€17.14
+56.9%
25.4%€29.00€11.50€14.8411
May ’24€9.46
€16.86
+78.2%
28.4%€29.00€11.50€14.789
Apr ’24€9.43
€16.24
+72.3%
21.5%€24.00€11.50€16.449
Mar ’24€11.53
€16.18
+40.3%
20.9%€24.00€11.50€14.809
Feb ’24€11.06
€16.18
+46.3%
20.9%€24.00€11.50€11.009
Jan ’24€9.60
€15.51
+61.6%
23.6%€24.00€11.00€10.469
Dec ’23€11.34
€15.51
+36.8%
23.6%€24.00€11.00€9.999

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/27 23:49
End of Day Share Price 2024/12/27 00:00
Earnings2024/06/30
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

Believe S.A. is covered by 13 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
Nicolas LangletBNP Paribas Exane
Eric RavaryCIC Market Solutions (ESN)
Thomas SinglehurstCitigroup Inc