Money Forward Valuation

Is 47D 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 47D when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 47D (€26) is trading below our estimate of fair value (€41.9)

Significantly Below Fair Value: 47D is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 47D?

Key metric: As 47D is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 47D. This is calculated by dividing 47D's market cap by their current revenue.
What is 47D's PS Ratio?
PS Ratio10.9x
SalesJP¥18.01b
Market CapJP¥196.11b

Price to Sales Ratio vs Peers

How does 47D's PS Ratio compare to its peers?

The above table shows the PS ratio for 47D vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average11.3x
AOF ATOSS Software
11.5x12.7%€1.9b
TMV TeamViewer
2.7x6.5%€1.8b
NB2 Northern Data
28.6x31.5%€2.2b
MUM Mensch und Maschine Software
2.5x-0.1%€888.7m
47D Money Forward
10.9x23.5%€196.1b

Price-To-Sales vs Peers: 47D is expensive based on its Price-To-Sales Ratio (10.9x) compared to the peer average (5.2x).


Price to Sales Ratio vs Industry

How does 47D's PS Ratio compare vs other companies in the DE Software Industry?

7 CompaniesPrice / SalesEstimated GrowthMarket Cap
CSH CENIT
0.3x5.2%US$72.36m
CLIQ Cliq Digital
0.08x13.2%US$24.26m
LSX LS telcom
0.5x5.0%US$21.24m
IVX InVision
0.6xn/aUS$9.69m
47D 10.9xIndustry Avg. 2.2xNo. of Companies7PS02.44.87.29.612+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 47D is expensive based on its Price-To-Sales Ratio (10.9x) compared to the German Software industry average (1.9x).


Price to Sales Ratio vs Fair Ratio

What is 47D'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.

47D PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio10.9x
Fair PS Ratio7.5x

Price-To-Sales vs Fair Ratio: 47D is expensive based on its Price-To-Sales Ratio (10.9x) compared to the estimated Fair Price-To-Sales Ratio (7.5x).


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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