Topps Tiles Plc

DB:929 Stock Report

Market Cap: €95.2m

Topps Tiles Valuation

Is 929 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: 929 (€0.47) is trading above our estimate of fair value (€0.2)

Significantly Below Fair Value: 929 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 929?

Key metric: As 929 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 929. This is calculated by dividing 929's market cap by their current revenue.
What is 929's PS Ratio?
PS Ratio0.3x
SalesUK£255.18m
Market CapUK£79.55m

Price to Sales Ratio vs Peers

How does 929's PS Ratio compare to its peers?

The above table shows the PS ratio for 929 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.3x
HBH HORNBACH Holding KGaA
0.2x3.7%€1.3b
HBM HORNBACH Baumarkt
0.3xn/a€1.9b
MRX Mister Spex
0.2x2.6%€52.3m
WEW Westwing Group
0.4x6.1%€163.7m
929 Topps Tiles
0.3x7.9%€79.6m

Price-To-Sales vs Peers: 929 is expensive based on its Price-To-Sales Ratio (0.3x) compared to the peer average (0.3x).

Price to Sales Ratio vs Industry

How does 929's PS Ratio compare vs other companies in the DE Specialty Retail Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
CEC Ceconomy
0.06x1.1%US$1.53b
GFG Global Fashion Group
0.07x-0.5%US$57.07m
DEX Delticom
0.07x2.7%US$35.77m
49S Superdry
0.004x-1.4%US$3.12m
No more companies available in this PS range
929 0.3xIndustry Avg. 0.4xNo. of Companies5PS00.40.81.21.62+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 929 is good value based on its Price-To-Sales Ratio (0.3x) compared to the European Specialty Retail industry average (0.4x).

Price to Sales Ratio vs Fair Ratio

What is 929'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.

929 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.3x
Fair PS Ratio0.3x

Price-To-Sales vs Fair Ratio: 929 is expensive based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (0.3x).

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 929 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.47
€0.75
+59.4%
23.2%€0.90€0.51n/a3
Nov ’25€0.50
€0.75
+49.6%
23.2%€0.90€0.50n/a3
Oct ’25€0.51
€0.73
+43.0%
23.2%€0.88€0.49n/a3
Sep ’25€0.54
€0.73
+35.1%
23.2%€0.88€0.49n/a3
Aug ’25€0.52
€0.74
+43.1%
23.2%€0.89€0.50n/a3
Jul ’25€0.48
€0.85
+78.0%
3.3%€0.88€0.82n/a2
Jun ’25€0.50
€0.85
+71.5%
3.3%€0.88€0.82n/a2
May ’25€0.51
€0.72
+41.9%
25.0%€0.87€0.47n/a3
Apr ’25€0.52
€0.94
+81.7%
12.5%€1.05€0.82n/a2
Mar ’25€0.50
€0.93
+87.8%
12.5%€1.05€0.81n/a2
Feb ’25€0.52
€0.93
+79.1%
12.5%€1.05€0.81n/a2
Jan ’25€0.56
€0.93
+65.2%
12.5%€1.05€0.82n/a2
Dec ’24€0.52
€0.92
+77.8%
12.5%€1.04€0.81n/a2
Nov ’24€0.53
€0.98
+85.3%
17.6%€1.16€0.81€0.502
Oct ’24€0.55
€0.99
+80.8%
17.6%€1.17€0.82€0.512
Sep ’24€0.58
€0.99
+70.0%
17.6%€1.17€0.82€0.542
Aug ’24€0.60
€0.99
+65.8%
17.6%€1.17€0.82€0.522
Jul ’24€0.56
€0.99
+75.1%
17.6%€1.16€0.81€0.482
Jun ’24€0.60
€0.98
+63.3%
17.6%€1.15€0.81€0.502
May ’24€0.54
€0.97
+79.9%
17.6%€1.14€0.80€0.512
Apr ’24€0.53
€0.96
+82.8%
17.6%€1.13€0.79€0.522
Mar ’24€0.55
€0.96
+76.1%
17.6%€1.13€0.79€0.502
Feb ’24€0.54
€0.96
+77.7%
17.6%€1.13€0.79€0.522
Jan ’24€0.51
€0.93
+83.9%
25.0%€1.16€0.70€0.562
Dec ’23€0.48
€0.93
+93.7%
25.0%€1.16€0.69€0.522
Nov ’23€0.41
€0.92
+123.6%
25.0%€1.15€0.69€0.532

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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