Teleste Oyj Valuation

Q: What is the Fair Price of TLT1V when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

TLT1V (€2.29) is trading below our estimate of [[fair value]] (€5.34)

Is TLT1V 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 TLT1V when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TLT1V (€2.29) is trading below our estimate of fair value (€5.34)

Significantly Below Fair Value: TLT1V is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TLT1V?

Key metric: As TLT1V is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for TLT1V. This is calculated by dividing TLT1V's market cap by their current revenue.
What is TLT1V's PS Ratio?
PS Ratio	0.3x
Sales	€126.69m
Market Cap	€42.70m

TLT1V 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	0.5x
Enterprise Value/EBITDA	-89.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does TLT1V's PS Ratio compare to its peers?

The above table shows the PS ratio for TLT1V 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
TAMTRON Tamtron Group Oyj	0.7x	2.4%	€41.4m
BOREO Boreo Oyj	0.2x	2.1%	€31.3m
ACG1V Aspocomp Group Oyj	0.7x	18.5%	€18.7m
A115160 Humax	0.09x	n/a	₩60.9b
TLT1V Teleste Oyj	0.3x	10.1%	€42.7m

Price-To-Sales vs Peers: TLT1V is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (0.4x).

Price to Sales Ratio vs Industry

How does TLT1V's PS Ratio compare vs other companies in the European Communications Industry?

6 Companies	Price / Sales	Estimated Growth	Market Cap

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: TLT1V is good value based on its Price-To-Sales Ratio (0.3x) compared to the European Communications industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is TLT1V'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.

TLT1V PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.3x
Fair PS Ratio	0.9x

Price-To-Sales vs Fair Ratio: TLT1V is good value based on its Price-To-Sales Ratio (0.3x) 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?

Analyst Forecast: Insufficient data to show price forecast.

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