Circio Holding ASA

DB:TA50 Stock Report

Market Cap: €2.1m

Circio Holding Valuation

Is TA50 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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TA50 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TA50 (€0.04) is trading below our estimate of fair value (€2.17)

Significantly Below Fair Value: TA50 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TA50?

Key metric: As TA50 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TA50. This is calculated by dividing TA50's market cap by their current earnings.
What is TA50's PE Ratio?
PE Ratio2.6x
EarningsNOK 9.50m
Market CapNOK 24.52m

Price to Earnings Ratio vs Peers

How does TA50's PE Ratio compare to its peers?

The above table shows the PE ratio for TA50 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.6x
ECX Epigenomics
0.3xn/a€927.7k
2INV 2invest
11.9xn/a€59.8m
FYB Formycon
12.8x30.8%€820.2m
532041 Hindustan Bio Sciences
41.2xn/a₹102.8m
TA50 Circio Holding
2.6x61.2%€24.5m

Price-To-Earnings vs Peers: TA50 is good value based on its Price-To-Earnings Ratio (2.6x) compared to the peer average (16.1x).

Price to Earnings Ratio vs Industry

How does TA50's PE Ratio compare vs other companies in the European Biotechs Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.26.9x43.1%
TA50 Circio Holding
 2.6x61.2%US$2.21m
TA50 2.6xIndustry Avg. 26.9xNo. of Companies5PE020406080100+
6 CompaniesEstimated GrowthMarket Cap
Industry Avg.26.9x43.1%
TA50 Circio Holding
 2.6x61.2%US$2.21m
No more companies

Price-To-Earnings vs Industry: TA50 is good value based on its Price-To-Earnings Ratio (2.6x) compared to the European Biotechs industry average (26.8x).

Price to Earnings Ratio vs Fair Ratio

What is TA50's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TA50 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TA50's Price-To-Earnings 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 TA50 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.04
€0.17
+327.9%
50.0%€0.26€0.086n/a2
Nov ’25€0.0006
€0.17
+28,340.8%
50.0%€0.26€0.085n/a2
Oct ’25€0.04
€0.17
+326.6%
50.0%€0.26€0.085n/a2
Sep ’25€0.10
€0.25
+153.9%
66.7%€0.42€0.085n/a2
Aug ’25€0.10
€0.26
+156.5%
66.7%€0.43€0.086n/a2
Jul ’25€0.16
€1.03
+538.2%
91.7%€1.97€0.086n/a2
Jun ’25€0.21
€1.03
+380.1%
91.7%€1.97€0.086n/a2
May ’25€0.20
€4.13
+1,965.4%
107.7%€10.33€0.086n/a3
Apr ’25€0.45
€4.13
+818.0%
107.7%€10.33€0.086n/a3
Mar ’25€0.46
€6.22
+1,245.8%
70.2%€10.58€1.85n/a2
Feb ’25€0.50
€6.22
+1,148.5%
70.2%€10.58€1.85n/a2
Jan ’25€0.57
€4.93
+771.1%
78.4%€10.38€1.82n/a3
Dec ’24€0.58
€4.93
+753.0%
78.4%€10.38€1.82n/a3
Nov ’24€0.43
€4.93
+1,054.6%
78.4%€10.38€1.82€0.00063
Oct ’24€0.66
€6.32
+862.3%
60.0%€10.12€2.53€0.042
Sep ’24€1.03
€6.32
+512.6%
60.0%€10.12€2.53€0.102
Aug ’24€1.25
€6.32
+404.2%
60.0%€10.12€2.53€0.102
Jul ’24€1.16
€6.32
+444.6%
60.0%€10.12€2.53€0.162
Jun ’24€0.89
€9.77
+1,004.2%
21.2%€11.85€7.70€0.212
May ’24€1.26
€9.77
+675.6%
21.2%€11.85€7.70€0.202
Apr ’24€1.62
€9.77
+503.2%
21.2%€11.85€7.70€0.452
Mar ’24€1.90
€9.77
+415.4%
21.2%€11.85€7.70€0.462
Feb ’24€2.42
€9.77
+304.6%
21.2%€11.85€7.70€0.502
Jan ’24€3.08
€9.77
+216.9%
21.2%€11.85€7.70€0.572
Dec ’23€3.40
€9.77
+187.2%
21.2%€11.85€7.70€0.582
Nov ’23€3.20
€9.77
+205.0%
21.2%€11.85€7.70€0.432

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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