Altair Engineering Inc.

DB:8A2 Stock Report

Market Cap: €8.6b

Altair Engineering Valuation

Is 8A2 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 8A2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 8A2 (€101) is trading above our estimate of fair value (€61.36)

Significantly Below Fair Value: 8A2 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8A2?

Key metric: As 8A2 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 8A2. This is calculated by dividing 8A2's market cap by their current revenue.
What is 8A2's PS Ratio?
PS Ratio13.9x
SalesUS$644.66m
Market CapUS$8.96b

Price to Sales Ratio vs Peers

How does 8A2's PS Ratio compare to its peers?

The above table shows the PS ratio for 8A2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average13.8x
NEM Nemetschek
12.5x14.1%€11.5b
NB2 Northern Data
28.5x31.5%€2.2b
TMV TeamViewer
2.7x6.5%€1.8b
AOF ATOSS Software
11.4x12.7%€1.9b
8A2 Altair Engineering
13.9x8.2%€9.0b

Price-To-Sales vs Peers: 8A2 is expensive based on its Price-To-Sales Ratio (13.9x) compared to the peer average (13.8x).

Price to Sales Ratio vs Industry

How does 8A2's PS Ratio compare vs other companies in the DE Software Industry?

7 CompaniesPrice / SalesEstimated GrowthMarket Cap
CSH CENIT
0.4x5.2%US$74.07m
CLIQ Cliq Digital
0.09x13.2%US$25.62m
LSX LS telcom
0.5x5.0%US$21.11m
IVX InVision
0.6xn/aUS$9.59m
8A2 13.9xIndustry Avg. 2.2xNo. of Companies7PS02.44.87.29.612+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 8A2 is expensive based on its Price-To-Sales Ratio (13.9x) compared to the German Software industry average (2.2x).

Price to Sales Ratio vs Fair Ratio

What is 8A2'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.

8A2 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio13.9x
Fair PS Ratio7.4x

Price-To-Sales vs Fair Ratio: 8A2 is expensive based on its Price-To-Sales Ratio (13.9x) compared to the estimated Fair Price-To-Sales Ratio (7.4x).

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 8A2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€101.00
€97.79
-3.2%
11.5%€104.28€78.35n/a4
Nov ’25€96.00
€97.25
+1.3%
10.3%€103.89€78.06n/a5
Oct ’25€82.50
€82.58
+0.1%
9.8%€90.21€64.05n/a9
Sep ’25€81.50
€82.58
+1.3%
9.8%€90.21€64.05n/a9
Aug ’25€78.00
€87.43
+12.1%
5.9%€92.89€78.96n/a8
Jul ’25€90.00
€87.43
-2.9%
5.9%€92.89€78.96n/a8
Jun ’25€80.00
€87.43
+9.3%
5.9%€92.89€78.96n/a8
May ’25€75.00
€86.39
+15.2%
5.8%€92.33€78.48n/a9
Apr ’25€79.50
€86.39
+8.7%
5.8%€92.33€78.48n/a9
Mar ’25€78.50
€84.42
+7.5%
8.1%€92.41€72.26n/a9
Feb ’25€78.50
€74.55
-5.0%
10.7%€87.30€58.81n/a9
Jan ’25€76.00
€69.92
-8.0%
8.6%€78.09€58.11n/a8
Dec ’24€66.50
€70.64
+6.2%
7.5%€79.27€59.69n/a8
Nov ’24€58.50
€70.31
+20.2%
7.4%€77.24€60.88€96.008
Oct ’24€59.00
€70.31
+19.2%
7.4%€77.24€60.88€82.508
Sep ’24€62.00
€70.31
+13.4%
7.4%€77.24€60.88€81.508
Aug ’24€67.50
€67.42
-0.1%
7.5%€76.41€60.23€78.008
Jul ’24€69.50
€67.03
-3.6%
5.6%€73.62€60.90€90.008
Jun ’24€69.50
€67.03
-3.6%
5.6%€73.62€60.90€80.008
May ’24€62.50
€60.55
-3.1%
15.8%€73.83€40.11€75.007
Apr ’24€66.50
€60.95
-8.3%
12.9%€68.45€41.26€79.508
Mar ’24€60.50
€60.67
+0.3%
12.2%€66.35€41.71€78.508
Feb ’24€49.80
€54.69
+9.8%
12.4%€60.58€37.50€78.508
Jan ’24€42.80
€54.69
+27.8%
12.4%€60.58€37.50€76.008
Dec ’23€47.60
€54.69
+14.9%
12.4%€60.58€37.50€66.508
Nov ’23€49.00
€58.56
+19.5%
15.3%€70.85€39.48€58.507

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

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