Extreme Networks, Inc.

DB:EXM Stock Report

Market Cap: €2.2b

Extreme Networks Valuation

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

Discounted Cash Flow
Simply Wall St
€12.00
Fair Value
35.0% overvalued intrinsic discount
6
Number of Analysts

Below Fair Value: EXM (€16.2) is trading above our estimate of fair value (€12)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for EXM. This is calculated by dividing EXM's market cap by their current revenue.
What is EXM's PS Ratio?
PS Ratio2.2x
SalesUS$1.03b
Market CapUS$2.27b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for EXM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.5x
ADV Adtran Networks
2.2x4.6%€1.0b
FEW Funkwerk
1xn/a€164.4m
CEK CeoTronics
1.6x10.2%€47.5m
JEN Jenoptik
1.1x4.5%€1.2b
EXM Extreme Networks
2.2x8.7%€2.3b

Price-To-Sales vs Peers: EXM is expensive based on its Price-To-Sales Ratio (2.2x) compared to the peer average (1.5x).

Price to Sales Ratio vs Industry

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

7 CompaniesPrice / SalesEstimated GrowthMarket Cap
EXM 2.2xIndustry Avg. 1.1xNo. of Companies9PS012345+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: EXM is expensive based on its Price-To-Sales Ratio (2.2x) compared to the European Communications industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is EXM'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.

EXM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.2x
Fair PS Ratio1.8x

Price-To-Sales vs Fair Ratio: EXM is expensive based on its Price-To-Sales Ratio (2.2x) compared to the estimated Fair Price-To-Sales Ratio (1.8x).

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 EXM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€16.20
€18.01
+11.2%
13.8%€20.96€13.97n/a6
Jan ’26€16.09
€18.01
+11.9%
13.8%€20.96€13.97n/a6
Dec ’25€15.48
€18.01
+16.4%
13.8%€20.96€13.97n/a6
Nov ’25€13.62
€17.78
+30.6%
13.8%€20.69€13.79n/a6
Oct ’25€13.29
€13.97
+5.2%
13.1%€16.49€11.91n/a6
Sep ’25€14.12
€13.97
-1.0%
13.1%€16.49€11.91n/a6
Aug ’25€13.01
€13.53
+4.0%
10.7%€15.59€11.92n/a6
Jul ’25€12.28
€13.57
+10.5%
10.7%€15.64€11.96n/a6
Jun ’25€10.00
€13.57
+35.8%
10.7%€15.64€11.96n/a6
May ’25€10.55
€13.64
+29.3%
7.5%€15.43€12.16n/a6
Apr ’25€10.58
€13.42
+26.8%
7.5%€15.18€11.96n/a6
Mar ’25€11.51
€13.42
+16.6%
7.5%€15.18€11.96n/a6
Feb ’25€12.00
€13.42
+11.8%
7.5%€15.18€11.96n/a6
Jan ’25€15.91
€20.70
+30.2%
13.5%€26.18€17.77€16.097
Dec ’24€14.90
€20.70
+39.0%
13.5%€26.18€17.77€15.487
Nov ’24€19.26
€25.82
+34.1%
19.2%€34.07€17.98€13.627
Oct ’24€22.68
€30.88
+36.2%
8.0%€33.81€27.24€13.298
Sep ’24€24.86
€30.42
+22.4%
7.7%€32.90€26.50€14.127
Aug ’24€23.89
€24.42
+2.2%
19.3%€31.83€15.91€13.017
Jul ’24€23.29
€24.50
+5.2%
19.3%€31.93€15.96€12.287
Jun ’24€19.48
€19.96
+2.5%
11.4%€22.68€15.88€10.006
May ’24€15.23
€19.96
+31.0%
11.4%€22.68€15.88€10.556
Apr ’24€16.40
€20.14
+22.8%
9.2%€22.04€16.53€10.587
Mar ’24€17.27
€20.14
+16.6%
9.2%€22.04€16.53€11.517
Feb ’24€16.51
€20.14
+22.0%
9.2%€22.04€16.53€12.007
Jan ’24€17.07
€21.08
+23.5%
8.8%€23.08€18.06€15.917
Analyst Price Target
Consensus Narrative from 6 Analysts
€18.22
Fair Value
11.1% undervalued intrinsic discount
6
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 Analysis2025/01/15 16:18
End of Day Share Price 2025/01/14 00:00
Earnings2024/09/30
Annual Earnings2024/06/30

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 here.

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 .

Analyst Sources

Extreme Networks, Inc. is covered by 18 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Steve SalbertaBoenning & Scattergood, Inc.
Ku KangB. Riley Securities, Inc.
Rohit ChopraBuckingham Research Group Inc.