Telix Pharmaceuticals Limited

DB:T3X Stock Report

Market Cap: €4.7b

Telix Pharmaceuticals Valuation

Is T3X undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 T3X when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: T3X (€14.25) is trading below our estimate of fair value (€29.66)

Significantly Below Fair Value: T3X is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for T3X?

Key metric: As T3X is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for T3X. This is calculated by dividing T3X's market cap by their current revenue.
What is T3X's PS Ratio?
PS Ratio11.9x
SalesAU$645.68m
Market CapAU$7.70b

Price to Sales Ratio vs Peers

How does T3X's PS Ratio compare to its peers?

The above table shows the PS ratio for T3X vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8.3x
MOR MorphoSys
10.2xn/a€2.6b
BIO3 Biotest
1.6x6.0%€1.4b
FYB Formycon
13.5x33.4%€820.2m
2INV 2invest
7.9xn/a€61.5m
T3X Telix Pharmaceuticals
11.9x21.5%€7.7b

Price-To-Sales vs Peers: T3X is expensive based on its Price-To-Sales Ratio (11.9x) compared to the peer average (8.3x).

Price to Sales Ratio vs Industry

How does T3X's PS Ratio compare vs other companies in the DE Biotechs Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
CNW co.don
0.7xn/aUS$6.97m
V9Z Aceragen
0.4xn/aUS$3.12m
PA8 Paion
0.2x30.2%US$2.78m
V9Z Aceragen
0.3x-161.8%US$2.18m
T3X 11.9xIndustry Avg. 7.8xNo. of Companies6PS0612182430+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: T3X is expensive based on its Price-To-Sales Ratio (11.9x) compared to the European Biotechs industry average (7.8x).

Price to Sales Ratio vs Fair Ratio

What is T3X'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.

T3X PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio11.9x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate T3X's Price-To-Sales 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 T3X forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€14.25
€15.71
+10.3%
20.8%€20.48€10.43n/a9
Nov ’25€12.85
€15.61
+21.5%
20.2%€20.49€10.43n/a9
Oct ’25€12.80
€15.49
+21.0%
20.8%€20.47€10.51n/a9
Sep ’25€11.58
€15.02
+29.8%
19.6%€19.61€10.32n/a9
Aug ’25€11.19
€14.90
+33.2%
18.6%€19.23€10.25n/a9
Jul ’25n/a
€11.75
0%
19.3%€16.17€8.64n/a7
Jun ’25n/a
€10.72
0%
22.5%€15.94€8.52n/a7
May ’25n/a
€9.21
0%
11.8%€11.63€8.14n/a7
Apr ’25n/a
€9.00
0%
12.1%€11.19€7.62n/a7
Mar ’25n/a
€8.73
0%
13.9%€11.22€7.54n/a7
Feb ’25n/a
€8.17
0%
10.4%€9.70€6.94n/a7
Jan ’25n/a
€8.34
0%
10.9%€9.86€7.05n/a7
Dec ’24n/a
€8.03
0%
8.1%€8.89€6.88n/a6
Nov ’24n/a
€7.33
0%
24.6%€8.88€3.16€12.857
Oct ’24n/a
€7.35
0%
24.4%€8.90€3.12€12.807
Sep ’24n/a
€7.35
0%
24.4%€8.90€3.12€11.587
Aug ’24n/a
€7.38
0%
24.2%€8.77€3.18€11.197
Jul ’24n/a
€7.32
0%
25.6%€8.94€3.24n/a7
Jun ’24n/a
€6.76
0%
28.2%€8.73€3.23n/a7
May ’24n/a
€6.30
0%
29.3%€8.53€3.16n/a6
Apr ’24n/a
€6.07
0%
18.2%€8.15€4.95n/a5
Mar ’24n/a
€6.09
0%
18.9%€8.27€5.02n/a5
Feb ’24n/a
€6.03
0%
20.1%€8.41€5.11n/a5
Jan ’24n/a
€5.90
0%
17.9%€7.96€5.11n/a5
Dec ’23n/a
€5.90
0%
17.9%€7.96€5.11n/a5
Nov ’23n/a
€6.16
0%
23.7%€8.75€4.78n/a6

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

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