CEVA, Inc.

DB:PVJA Stock Report

Market Cap: €682.6m

CEVA Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: PVJA (€28.8) is trading above our estimate of fair value (€19.79)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for PVJA. This is calculated by dividing PVJA's market cap by their current revenue.
What is PVJA's PS Ratio?
PS Ratio6.8x
SalesUS$101.88m
Market CapUS$715.18m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for PVJA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.6x
SIS First Sensor
4.9xn/a€603.9m
ELG Elmos Semiconductor
1.8x5.4%€1.1b
P4O Planoptik
1.1xn/a€14.1m
IFX Infineon Technologies
2.6x7.1%€39.6b
PVJA CEVA
6.8x9.5%€715.2m

Price-To-Sales vs Peers: PVJA is expensive based on its Price-To-Sales Ratio (6.8x) compared to the peer average (2.6x).

Price to Sales Ratio vs Industry

How does PVJA's PS Ratio compare vs other companies in the DE Semiconductor Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
D0Q Sondrel (Holdings)
0.2xn/aUS$2.02m
No more companies available in this PS range
PVJA 6.8xIndustry Avg. 1.7xNo. of Companies3PS012345+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PVJA is expensive based on its Price-To-Sales Ratio (6.8x) compared to the European Semiconductor industry average (1.7x).

Price to Sales Ratio vs Fair Ratio

What is PVJA'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.

PVJA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio6.8x
Fair PS Ratio5x

Price-To-Sales vs Fair Ratio: PVJA is expensive based on its Price-To-Sales Ratio (6.8x) compared to the estimated Fair Price-To-Sales Ratio (5x).

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 PVJA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€28.80
€30.63
+6.4%
18.1%€37.32€19.59n/a6
Nov ’25€21.40
€25.13
+17.4%
14.1%€29.79€18.96n/a6
Oct ’25€21.60
€25.13
+16.3%
14.1%€29.79€18.96n/a6
Sep ’25€21.40
€25.52
+19.3%
13.1%€30.23€19.24n/a7
Aug ’25€18.40
€24.42
+32.7%
14.9%€28.49€18.38n/a7
Jul ’25€17.80
€24.42
+37.2%
14.9%€28.49€18.38n/a7
Jun ’25€18.00
€24.66
+37.0%
14.9%€28.77€18.56n/a7
May ’25€18.90
€25.87
+36.9%
7.3%€28.78€23.21n/a7
Apr ’25€20.80
€25.87
+24.4%
7.3%€28.78€23.21n/a7
Mar ’25€20.80
€25.87
+24.4%
7.3%€28.78€23.21n/a7
Feb ’25€17.70
€23.04
+30.2%
9.4%€26.26€18.76n/a7
Jan ’25€20.80
€23.04
+10.8%
9.4%€26.26€18.76n/a7
Dec ’24€19.80
€23.04
+16.4%
9.4%€26.26€18.76n/a7
Nov ’24€16.10
€25.24
+56.8%
17.3%€33.07€18.90€21.407
Oct ’24€18.40
€25.71
+39.7%
26.9%€41.11€18.27€21.607
Sep ’24€21.40
€25.71
+20.1%
26.9%€41.11€18.27€21.407
Aug ’24€24.20
€30.09
+24.4%
18.9%€41.22€21.07€18.407
Jul ’24€23.20
€30.09
+29.7%
18.9%€41.22€21.07€17.807
Jun ’24€22.80
€30.09
+32.0%
18.9%€41.22€21.07€18.007
May ’24€22.60
€36.54
+61.7%
10.1%€42.16€29.98€18.907
Apr ’24€27.50
€36.54
+32.9%
10.1%€42.16€29.98€20.807
Mar ’24€29.85
€36.54
+22.4%
10.1%€42.16€29.98€20.807
Feb ’24€31.09
€35.04
+12.7%
13.4%€44.15€29.43€17.707
Jan ’24€23.65
€35.04
+48.2%
13.4%€44.15€29.43€20.807
Dec ’23€25.93
€35.04
+35.1%
13.4%€44.15€29.43€19.807
Nov ’23€27.38
€45.75
+67.1%
19.3%€58.23€33.97€16.107

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

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