Pkp Cargo Valuation

Q: What is the Fair Price of PK3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

PK3 (€3.07) is trading below our estimate of [[fair value]] (€25.29)

Is PK3 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 PK3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PK3 (€3.07) is trading below our estimate of fair value (€25.29)

Significantly Below Fair Value: PK3 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PK3?

Key metric: As PK3 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PK3. This is calculated by dividing PK3's market cap by their current revenue.
What is PK3's PS Ratio?
PS Ratio	0.1x
Sales	zł4.89b
Market Cap	zł618.96m

PK3 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	0.7x
Enterprise Value/EBITDA	5.3x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does PK3's PS Ratio compare to its peers?

The above table shows the PS ratio for PK3 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	0.6x
3WB Waberer's International Nyrt	0.2x	9.8%	€155.9m
LNSX Allane	0.3x	7.1%	€208.2m
HVB ÜSTRA Hannoversche Verkehrsbetriebe	1.5x	n/a	€248.2m
NEP SLOMAN NEPTUN Schiffahrts-Aktiengesellschaft	0.6x	n/a	€113.9m
PK3 Pkp Cargo	0.1x	5.0%	€619.0m

Price-To-Sales vs Peers: PK3 is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

How does PK3's PS Ratio compare vs other companies in the European Transportation Industry?

1 Company	Price / Sales	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: PK3 is good value based on its Price-To-Sales Ratio (0.1x) compared to the European Transportation industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is PK3'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.

PK3 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.1x
Fair PS Ratio	0.4x

Price-To-Sales vs Fair Ratio: PK3 is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.4x).

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.