Fingerprint Cards Valuation

Q: What is the Fair Price of FPQ1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

FPQ1 (€0.01) is trading below our estimate of [[fair value]] (€0.01)

Is FPQ1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

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 FPQ1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FPQ1 (€0.01) is trading below our estimate of fair value (€0.01)

Significantly Below Fair Value: FPQ1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FPQ1?

Key metric: As FPQ1 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for FPQ1. This is calculated by dividing FPQ1's market cap by their current revenue.
What is FPQ1's PS Ratio?
PS Ratio	0.5x
Sales	SEK 561.90m
Market Cap	SEK 280.69m

FPQ1 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.4x
Enterprise Value/EBITDA	-0.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does FPQ1's PS Ratio compare to its peers?

The above table shows the PS ratio for FPQ1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	0.4x
V6C Viscom	0.3x	7.2%	€27.6m
SYT Softing	0.4x	6.9%	€35.4m
SSS Schulte-Schlagbaum	0.2x	n/a	€10.9m
FEV FORTEC Elektronik	0.6x	5.6%	€60.8m
FPQ1 Fingerprint Cards	0.5x	-43.8%	€280.7m

Price-To-Sales vs Peers: FPQ1 is expensive based on its Price-To-Sales Ratio (0.5x) compared to the peer average (0.4x).

Price to Sales Ratio vs Industry

How does FPQ1's PS Ratio compare vs other companies in the DE Electronic Industry?

5 Companies	Price / Sales	Estimated Growth	Market Cap
SCE Schweizer Electronic	0.08x	4.3%	US$13.12m
IS7 InTiCa Systems	0.08x	7.0%	US$7.44m
UDC UniDevice	0.004x	4.6%	US$1.94m
7PF0 Syncro Group	0.02x	n/a	US$486.57k

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: FPQ1 is good value based on its Price-To-Sales Ratio (0.5x) compared to the European Electronic industry average (0.9x).

Price to Sales Ratio vs Fair Ratio

What is FPQ1'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.

FPQ1 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.5x
Fair PS Ratio	0.02x

Price-To-Sales vs Fair Ratio: FPQ1 is expensive based on its Price-To-Sales Ratio (0.5x) compared to the estimated Fair Price-To-Sales Ratio (0x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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