CStone Pharmaceuticals

DB:PH4 Stock Report

Market Cap: €445.5m

CStone Pharmaceuticals Valuation

Is PH4 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • 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 PH4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate PH4's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate PH4's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PH4?

Key metric: As PH4 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PH4. This is calculated by dividing PH4's market cap by their current revenue.
What is PH4's PS Ratio?
PS Ratio8.8x
SalesCN¥407.21m
Market CapCN¥3.58b

Price to Sales Ratio vs Peers

How does PH4's PS Ratio compare to its peers?

The above table shows the PS ratio for PH4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8x
FYB Formycon
5.8x18.84%€403.5m
BIO3 Biotest
1.9xn/a€1.4b
HPHA Heidelberg Pharma
21.6x39.66%€147.7m
2INV 2invest
2.7xn/a€70.0m
PH4 CStone Pharmaceuticals
9x15.94%€4.0b

Price-To-Sales vs Peers: PH4 is expensive based on its Price-To-Sales Ratio (9x) compared to the peer average (8x).

Price to Sales Ratio vs Industry

How does PH4's PS Ratio compare vs other companies in the DE Biotechs Industry?

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
BIO3 Biotest
1.9xn/aUS$1.61b
2INV 2invest
2.7xn/aUS$78.72m
CNW co.don
0.7xn/aUS$6.97m
V9Z Aceragen
0.4xn/aUS$3.12m
PH4 8.8xIndustry Avg. 7.5xNo. of Companies10PS01632486480+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PH4 is expensive based on its Price-To-Sales Ratio (9x) compared to the European Biotechs industry average (7.5x).

Price to Sales Ratio vs Fair Ratio

What is PH4'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.

PH4 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio8.8x
Fair PS Ratio1.6x

Price-To-Sales vs Fair Ratio: PH4 is expensive based on its Price-To-Sales Ratio (9x) 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 PH4 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.33
€0.56
+73.17%
41.68%€0.80€0.33n/a2
May ’26€0.31
€0.56
+80.94%
41.68%€0.80€0.33n/a2
Apr ’26€0.40
€0.56
+41.13%
41.68%€0.80€0.33n/a2
May ’25€0.10
€0.41
+306.63%
15.33%€0.47€0.34€0.312
Apr ’25€0.11
€0.43
+301.92%
9.98%€0.47€0.38€0.402
Mar ’25€0.17
€0.43
+160.16%
10.76%€0.48€0.39€0.442
Feb ’25€0.19
€0.58
+205.91%
36.43%€0.87€0.39€0.283
Jan ’25n/a
€0.64
0%
26.68%€0.87€0.48€0.273
Dec ’24n/a
€0.64
0%
26.18%€0.87€0.48€0.253
Nov ’24€0.24
€0.64
+163.73%
26.82%€0.88€0.47€0.243
Oct ’24€0.22
€0.59
+165.37%
27.54%€0.86€0.46€0.224
Sep ’24€0.25
€0.59
+135.53%
27.54%€0.86€0.46€0.174
Aug ’24€0.29
€0.71
+147.95%
51.61%€1.35€0.46€0.144
Jul ’24€0.29
€0.81
+181.19%
42.86%€1.37€0.47€0.134
Jun ’24€0.32
€0.85
+168.69%
43.34%€1.46€0.50€0.134
May ’24€0.37
€0.85
+133.45%
43.34%€1.46€0.50€0.104
AnalystConsensusTarget
Consensus Narrative from 2 Analysts
€0.53
Fair Value
38.1% undervalued intrinsic discount
2
Number of Analysts

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.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/19 18:49
End of Day Share Price 2025/05/16 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

CStone Pharmaceuticals is covered by 4 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ziyi ChenGoldman Sachs
Ling WangJ.P. Morgan
Sean WuMorgan Stanley