Appen Limited

DB:433 Stock Report

Market Cap: €275.7m

Appen Valuation

Is 433 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of 433 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: 433 (€0.95) is trading below our estimate of future cash flow value (€2.88)

Significantly Below Future Cash Flow Value: 433 is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 433?

Key metric: As 433 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 433. This is calculated by dividing 433's market cap by their current revenue.
What is 433's PS Ratio?
PS Ratio1.4x
SalesUS$232.67m
Market CapUS$320.06m

Price to Sales Ratio vs Peers

How does 433's PS Ratio compare to its peers?

The above table shows the PS ratio for 433 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1x
NVQ Novabase S.G.P.S
2.6xn/a€335.9m
AEIN Allgeier
0.5x5.77%€205.4m
GFT GFT Technologies
0.5x5.21%€473.5m
A1OS All for One Group
0.3xn/a€168.6m
433 Appen
1.3x14.03%€435.5m

Price-To-Sales vs Peers: 433 is expensive based on its Price-To-Sales Ratio (1.3x) compared to the peer average (1x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does 433's PS Ratio compare vs other companies in the DE IT Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
KSC KPS
0.1x12.02%US$18.51m
ASKN asknet Solutions
0.01x20.06%US$984.32k
No more companies available in this PS range
433 1.4xIndustry Avg. 0.6xNo. of Companies8PS00.81.62.43.24+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 433 is expensive based on its Price-To-Sales Ratio (1.3x) compared to the German IT industry average (0.6x).

Price to Sales Ratio vs Fair Ratio

What is 433'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.

433 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.4x
Fair PS Ratio1.5x

Price-To-Sales vs Fair Ratio: 433 is good value based on its Price-To-Sales Ratio (1.3x) compared to the estimated Fair Price-To-Sales Ratio (1.4x).

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 433 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.99
€1.08
+8.09%
39.87%€1.42€0.36n/a4
Mar ’27€1.05
€1.08
+2.33%
39.87%€1.42€0.36n/a4
Feb ’27€1.00
€0.76
-23.87%
43.26%€1.09€0.31n/a4
Jan ’27€0.44
€0.68
+54.46%
38.99%€0.94€0.30n/a4
Dec ’26€0.40
€0.68
+67.63%
38.99%€0.93€0.29n/a4
Nov ’26€0.42
€0.68
+59.70%
38.99%€0.93€0.29n/a4
Oct ’26€0.48
€0.67
+39.26%
38.99%€0.92€0.29n/a4
Sep ’26€0.48
€0.71
+48.33%
35.06%€0.92€0.29n/a5
Aug ’26€0.46
€0.83
+80.06%
33.00%€1.13€0.31n/a5
Jul ’26€0.63
€1.03
+63.51%
40.28%€1.51€0.31n/a5
Jun ’26€0.65
€1.05
+63.01%
40.28%€1.55€0.32n/a5
May ’26€0.47
€1.04
+123.18%
40.28%€1.53€0.31n/a5
Apr ’26€0.58
€1.20
+106.69%
48.09%€2.05€0.32n/a5
Mar ’26€0.75
€1.23
+62.89%
48.09%€2.10€0.33€1.055
Feb ’26€1.63
€1.14
-30.40%
60.38%€1.97€0.30€1.005
Jan ’26€1.60
€0.97
-39.09%
52.35%€1.51€0.30€0.445
Dec ’25€1.41
€0.97
-30.78%
52.35%€1.51€0.30€0.405
Nov ’25€1.14
€0.88
-23.19%
57.20%€1.51€0.30€0.425
Oct ’25€1.32
€0.57
-56.96%
30.28%€0.74€0.31€0.485
Sep ’25€0.59
€0.50
-15.73%
40.40%€0.73€0.23€0.486
Aug ’25€0.45
€0.35
-22.38%
21.36%€0.48€0.23€0.466
Jul ’25€0.28
€0.33
+18.56%
14.66%€0.37€0.23€0.636
Jun ’25€0.33
€0.33
-0.39%
14.66%€0.37€0.23€0.656
May ’25€0.37
€0.31
-16.64%
15.32%€0.36€0.23€0.476
Apr ’25€0.34
€0.31
-7.58%
15.32%€0.36€0.23€0.586
Mar ’25€0.31
€0.28
-10.91%
26.70%€0.36€0.15€0.756
€1.04
Fair Value
4.8% undervalued intrinsic discount
4
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/06 20:28
End of Day Share Price 2026/03/06 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Appen Limited is covered by 9 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Josh KannourakisBarrenjoey Markets Pty Limited
Conor O’PreyCanaccord Genuity
Siraj AhmedCitigroup Inc