Keywords Studios plc

DB:KS3 Stock Report

Market Cap: €2.5b

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This company may still be operating, however this listing is no longer active. Find out why through their latest events.

Keywords Studios Valuation

Is KS3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 KS3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KS3 (€27.8) is trading below our estimate of fair value (€34.24)

Significantly Below Fair Value: KS3 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KS3?

Key metric: As KS3 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for KS3. This is calculated by dividing KS3's market cap by their current revenue.
What is KS3's PS Ratio?
PS Ratio3.1x
Sales€807.60m
Market Cap€2.47b

Price to Sales Ratio vs Peers

How does KS3's PS Ratio compare to its peers?

The above table shows the PS ratio for KS3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.8x
NA9 Nagarro
1.3x10.3%€1.3b
BC8 Bechtle
0.6x6.8%€4.0b
SANT Kontron
0.6x8.0%€1.0b
COK Cancom
0.4x3.8%€728.0m
KS3 Keywords Studios
3.1x10.2%€2.1b

Price-To-Sales vs Peers: KS3 is expensive based on its Price-To-Sales Ratio (3.1x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does KS3's PS Ratio compare vs other companies in the DE IT Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
ASKN asknet Solutions
0.01x20.1%US$984.32k
No more companies available in this PS range
KS3 3.1xIndustry Avg. 0.7xNo. of Companies6PS00.61.21.82.43+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: KS3 is expensive based on its Price-To-Sales Ratio (3.1x) compared to the German IT industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is KS3'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.

KS3 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.1x
Fair PS Ratio2.5x

Price-To-Sales vs Fair Ratio: KS3 is expensive based on its Price-To-Sales Ratio (3.1x) compared to the estimated Fair Price-To-Sales Ratio (2.5x).

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 KS3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
€28.16
0%
15.8%€37.39€21.06n/a8
Nov ’25n/a
€28.16
0%
15.8%€37.39€21.06n/a8
Oct ’25€29.00
€28.16
-2.9%
15.8%€37.39€21.06n/a8
Sep ’25€28.40
€28.16
-0.8%
15.8%€37.39€21.06n/a8
Aug ’25€28.00
€28.24
+0.8%
14.8%€37.39€21.06n/a9
Jul ’25€27.00
€27.03
+0.1%
16.4%€37.39€21.06n/a10
Jun ’25€25.60
€26.45
+3.3%
20.7%€38.77€19.03n/a12
May ’25€13.50
€26.37
+95.4%
20.8%€38.59€19.03n/a12
Apr ’25€15.00
€25.96
+73.0%
23.2%€38.59€16.02n/a12
Mar ’25€16.50
€26.87
+62.8%
20.5%€38.66€19.03n/a11
Feb ’25€19.10
€27.07
+41.7%
19.5%€38.57€19.03n/a12
Jan ’25€19.70
€27.46
+39.4%
19.3%€38.13€19.03n/a11
Dec ’24€15.70
€29.36
+87.0%
20.6%€39.03€19.03n/a13
Nov ’24€14.80
€29.56
+99.7%
19.5%€39.03€20.94n/a13
Oct ’24€17.10
€28.96
+69.3%
20.7%€39.03€20.93€29.0014
Sep ’24€17.40
€31.31
+79.9%
19.8%€40.07€20.89€28.4014
Aug ’24€19.30
€32.81
+70.0%
16.2%€40.07€23.25€28.0013
Jul ’24€20.00
€36.49
+82.5%
11.9%€41.85€24.53€27.0014
Jun ’24€22.60
€37.11
+64.2%
7.6%€41.25€30.94€25.6014
May ’24€30.00
€36.93
+23.1%
7.7%€40.84€30.63€13.5014
Apr ’24€31.40
€36.89
+17.5%
7.8%€40.84€30.63€15.0014
Mar ’24€32.60
€37.13
+13.9%
8.1%€40.86€31.02€16.5013
Feb ’24€31.40
€36.70
+16.9%
7.7%€40.83€31.02€19.1012
Jan ’24€30.80
€37.03
+20.2%
6.5%€40.14€32.84€19.7013
Dec ’23€33.20
€36.75
+10.7%
6.8%€40.14€31.65€15.7013
Nov ’23€27.00
€35.34
+30.9%
6.4%€39.56€31.61€14.8013

Analyst Forecast: Target price is lower than the current share price.

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