Vitura Valuation

Is D2L 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 D2L when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate D2L's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate D2L's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for D2L?

Key metric: As D2L is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for D2L. This is calculated by dividing D2L's market cap by their current revenue.
What is D2L's PS Ratio?
PS Ratio	1.3x
Sales	€63.86m
Market Cap	€86.09m

D2L key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	10.9x
Enterprise Value/EBITDA	22.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does D2L's PS Ratio compare to its peers?

The above table shows the PS ratio for D2L vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	5.6x
AOX alstria office REIT-AG	5.2x	-1.5%	€1.2b
FVI Fair Value REIT-AG	2.3x	n/a	€54.7m
DKG Deutsche Konsum REIT-AG	1.3x	-12.7%	€141.7m
TRNT11 Fundo de Investimento Imobiliário - FII Torre Norte	13.7x	n/a	R$531.3m
D2L Vitura	1.3x	n/a	€86.1m

Price-To-Sales vs Peers: D2L is good value based on its Price-To-Sales Ratio (1.3x) compared to the peer average (5.6x).

Price to Sales Ratio vs Industry

How does D2L's PS Ratio compare vs other companies in the European Office REITs Industry?

4 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	8.2x	-0.4%
D2L Vitura	1.3x	n/a	US$90.96m

4 Companies		Estimated Growth	Market Cap
Industry Avg.	8.2x	64.7%
D2L Vitura	1.3x	n/a	US$90.96m

No more companies

Price-To-Sales vs Industry: D2L is good value based on its Price-To-Sales Ratio (1.3x) compared to the European Office REITs industry average (8.2x).

Price to Sales Ratio vs Fair Ratio

What is D2L'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.

D2L PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.3x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate D2L'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?

Analyst Forecast: Insufficient data to show price forecast.

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