Vocento, S.A.

DB:VON Stock Report

Market Cap: €73.4m

Vocento Valuation

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

Below Fair Value: VON (€0.61) is trading below our estimate of fair value (€5.76)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for VON. This is calculated by dividing VON's market cap by their current revenue.
What is VON's PS Ratio?
PS Ratio0.2x
Sales€352.35m
Market Cap€73.45m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for VON vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.1x
BST Bastei Lübbe
1.1x2.9%€129.4m
MF8 Cash.Medien
2.2xn/a€4.4m
TC1 Tele Columbus
0.2x3.2%€89.0m
IFS Infas Holding
1xn/a€61.2m
VON Vocento
0.2x2.0%€73.4m

Price-To-Sales vs Peers: VON is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

How does VON's PS Ratio compare vs other companies in the DE Media Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
53Y Bonhill Group
0.02xn/aUS$398.20k
69R Aventura Group
0.09xn/aUS$242.86k
No more companies available in this PS range
VON 0.2xIndustry Avg. 0.7xNo. of Companies4PS00.61.21.82.43+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: VON is good value based on its Price-To-Sales Ratio (0.2x) compared to the European Media industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is VON'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.

VON PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ratio0.7x

Price-To-Sales vs Fair Ratio: VON is good value based on its Price-To-Sales Ratio (0.2x) compared to the estimated Fair Price-To-Sales Ratio (0.7x).

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 VON forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.61
€0.70
+13.6%
7.5%€0.75€0.65n/a2
Nov ’25€0.66
€0.97
+45.6%
24.7%€1.30€0.75n/a3
Oct ’25€0.69
€0.97
+40.9%
24.7%€1.30€0.75n/a3
Sep ’25€0.70
€0.97
+38.1%
24.7%€1.30€0.75n/a3
Aug ’25€0.81
€0.97
+19.9%
24.7%€1.30€0.75n/a3
Jul ’25€0.80
€1.27
+58.3%
16.2%€1.50€1.00n/a3
Jun ’25€0.85
€1.27
+48.3%
16.2%€1.50€1.00n/a3
May ’25€0.84
€1.27
+50.1%
16.2%€1.50€1.00n/a3
Apr ’25€0.80
€1.27
+57.9%
16.2%€1.50€1.00n/a3
Mar ’25€0.58
€1.27
+118.4%
16.2%€1.50€1.00n/a3
Feb ’25€0.53
€1.20
+127.3%
24.5%€1.50€0.80n/a3
Jan ’25€0.55
€1.20
+119.8%
24.5%€1.50€0.80n/a3
Dec ’24€0.63
€1.20
+91.1%
24.5%€1.50€0.80n/a3
Nov ’24€0.62
€1.20
+94.2%
24.5%€1.50€0.80€0.663
Oct ’24€0.67
€1.20
+78.6%
24.5%€1.50€0.80€0.693
Sep ’24€0.70
€1.20
+71.9%
24.5%€1.50€0.80€0.703
Aug ’24€0.70
€1.20
+71.9%
24.5%€1.50€0.80€0.813
Jul ’24€0.71
€1.20
+70.0%
24.5%€1.50€0.80€0.803
Jun ’24€0.66
€1.20
+82.9%
24.5%€1.50€0.80€0.853
May ’24€0.74
€1.30
+75.7%
31.4%€1.80€0.80€0.843
Apr ’24€0.69
€1.30
+88.4%
31.4%€1.80€0.80€0.803
Mar ’24€0.71
€1.30
+84.1%
31.4%€1.80€0.80€0.583
Feb ’24€0.67
€1.30
+93.5%
31.4%€1.80€0.80€0.533
Jan ’24€0.62
€1.53
+148.9%
16.3%€1.80€1.20€0.553
Dec ’23€0.71
€1.53
+114.8%
16.3%€1.80€1.20€0.633
Nov ’23€0.61
€1.60
+161.4%
15.3%€1.80€1.20€0.624

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

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