ATEME SA

DB:AYD Stock Report

Market Cap: €50.6m

ATEME Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: AYD (€4.04) is trading below our estimate of fair value (€31.15)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for AYD. This is calculated by dividing AYD's market cap by their current revenue.
What is AYD's PS Ratio?
PS Ratio0.6x
Sales€91.69m
Market Cap€50.55m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for AYD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.7x
CEK CeoTronics
1.4x10.3%€41.1m
FEW Funkwerk
1xn/a€163.6m
CFC aconnic
0.3xn/a€17.9m
GGS Gigaset
0.03x5.6%€9.1m
AYD ATEME
0.6x9.8%€50.6m

Price-To-Sales vs Peers: AYD is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does AYD's PS Ratio compare vs other companies in the European Communications Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
AYD 0.6xIndustry Avg. 1.1xNo. of Companies10PS00.81.62.43.24+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AYD is good value based on its Price-To-Sales Ratio (0.6x) compared to the European Communications industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is AYD'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.

AYD PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio0.9x

Price-To-Sales vs Fair Ratio: AYD is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (0.9x).

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 AYD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.04
€5.65
+39.9%
41.6%€8.00€3.30n/a2
Nov ’25€4.31
€5.65
+31.1%
41.6%€8.00€3.30n/a2
Oct ’25€3.10
€5.65
+82.3%
41.6%€8.00€3.30n/a2
Sep ’25€3.66
€5.65
+54.4%
41.6%€8.00€3.30n/a2
Aug ’25€3.70
€5.65
+52.7%
41.6%€8.00€3.30n/a2
Dec ’24€6.44
€12.60
+95.7%
4.8%€13.20€12.00n/a2
Nov ’24€6.46
€13.10
+102.8%
0.8%€13.20€13.00€4.312
Oct ’24€7.92
€13.10
+65.4%
0.8%€13.20€13.00€3.102
Sep ’24€8.60
€13.50
+57.0%
3.7%€14.00€13.00€3.662
Aug ’24€9.32
€13.50
+44.8%
3.7%€14.00€13.00€3.702
Jul ’24€9.56
€13.25
+38.6%
9.4%€14.50€12.00€4.042
Jun ’24€9.70
€13.25
+36.6%
9.4%€14.50€12.00€5.882
May ’24€8.84
€13.25
+49.9%
9.4%€14.50€12.00€5.722
Apr ’24€8.74
€14.35
+64.2%
2.4%€14.70€14.00€4.162
Mar ’24€8.92
€14.35
+60.9%
2.4%€14.70€14.00€4.142
Feb ’24€9.22
€14.35
+55.6%
2.4%€14.70€14.00€6.302
Jan ’24€10.46
€17.40
+66.3%
2.3%€17.80€17.00€6.562
Dec ’23€10.46
€17.40
+66.3%
2.3%€17.80€17.00€6.442
Nov ’23€11.46
€17.35
+51.4%
2.0%€17.70€17.00€6.462

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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