Farmacosmo S.p.A.

DB:ZJ1 Stock Report

Market Cap: €16.7m

Farmacosmo Valuation

Is ZJ1 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-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 ZJ1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ZJ1 (€0.36) is trading below our estimate of fair value (€1.65)

Significantly Below Fair Value: ZJ1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ZJ1?

Key metric: As ZJ1 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for ZJ1. This is calculated by dividing ZJ1's market cap by their current revenue.
What is ZJ1's PS Ratio?
PS Ratio0.2x
Sales€68.16m
Market Cap€16.69m

Price to Sales Ratio vs Peers

How does ZJ1's PS Ratio compare to its peers?

The above table shows the PS ratio for ZJ1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.4x
WFA Weng Fine Art
3.6xn/a€20.7m
ART Artnet
1.7xn/a€39.4m
MRX Mister Spex
0.2x2.6%€51.1m
BIKE Bike24 Holding
0.2x6.5%€51.9m
ZJ1 Farmacosmo
0.2x8.5%€14.8m

Price-To-Sales vs Peers: ZJ1 is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (1.4x).

Price to Sales Ratio vs Industry

How does ZJ1's PS Ratio compare vs other companies in the DE Specialty Retail Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
CEC Ceconomy
0.06x1.1%US$1.52b
GFG Global Fashion Group
0.07x-0.5%US$54.14m
DEX Delticom
0.07x2.7%US$34.14m
49S Superdry
0.004x-1.4%US$3.12m
No more companies available in this PS range
ZJ1 0.2xIndustry Avg. 0.4xNo. of Companies5PS00.40.81.21.62+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ZJ1 is good value based on its Price-To-Sales Ratio (0.2x) compared to the European Specialty Retail industry average (0.4x).

Price to Sales Ratio vs Fair Ratio

What is ZJ1'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.

ZJ1 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ratio0.04x

Price-To-Sales vs Fair Ratio: ZJ1 is expensive based on its Price-To-Sales Ratio (0.2x) compared to the estimated Fair Price-To-Sales Ratio (0x).

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 ZJ1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.39
€1.33
+242.4%
9.4%€1.45€1.20n/a2
Nov ’25€0.60
€1.33
+120.8%
9.4%€1.45€1.20n/a2
Oct ’25€0.63
€1.40
+121.5%
8.6%€1.52€1.28n/a2
Sep ’25€0.67
€1.40
+108.3%
8.6%€1.52€1.28n/a2
Aug ’25€0.67
€1.40
+109.6%
8.6%€1.52€1.28n/a2
Jul ’25€0.75
€1.40
+86.7%
8.6%€1.52€1.28n/a2
Jun ’25€0.82
€1.40
+69.9%
8.6%€1.52€1.28n/a2
May ’25€0.84
€1.40
+66.3%
8.6%€1.52€1.28n/a2
Apr ’25€0.91
€1.77
+94.9%
15.3%€2.04€1.50n/a2
Mar ’25€1.02
€1.77
+74.4%
15.3%€2.04€1.50n/a2
Feb ’25€0.97
€1.77
+82.5%
15.3%€2.04€1.50n/a2
Jan ’25€0.63
€1.77
+181.8%
15.3%€2.04€1.50n/a2
Dec ’24€0.60
€1.77
+193.0%
15.3%€2.04€1.50n/a2
Nov ’24€0.64
€2.15
+236.2%
30.1%€2.79€1.50€0.602
Oct ’24€0.73
€2.35
+220.4%
19.0%€2.79€1.90€0.632
Sep ’24€0.83
€2.35
+182.5%
19.0%€2.79€1.90€0.672
Aug ’24€0.93
€2.35
+151.6%
19.0%€2.79€1.90€0.672
Jul ’24€0.76
€2.35
+206.9%
19.0%€2.79€1.90€0.752
Jun ’24€0.73
€2.35
+221.2%
19.0%€2.79€1.90€0.822

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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