H2O Innovation Inc.

ENXTPA:ALHEO Stock Report

Market Cap: €261.6m

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H2O Innovation Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: ALHEO (€2.88) is trading above our estimate of fair value (€1.89)

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


Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for ALHEO. This is calculated by dividing ALHEO's market cap by their current revenue.
What is ALHEO's PS Ratio?
PS Ratio1.5x
SalesCA$256.49m
Market CapCA$381.63m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for ALHEO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.3x
EXA Exail Technologies
0.9x14.8%€311.0m
ALGEV Gévelot
1x1.1%€141.4m
ALPM Precia
0.9x1.9%€151.4m
ALSTI STIF Société anonyme
2.4x16.0%€112.9m
ALHEO H2O Innovation
1.5x6.9%€381.6m

Price-To-Sales vs Peers: ALHEO is good value based on its Price-To-Sales Ratio (1.5x) compared to the peer average (3x).


Price to Sales Ratio vs Industry

How does ALHEO's PS Ratio compare vs other companies in the FR Machinery Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
ALGAU Gaussin
0.03xn/aUS$1.68m
ALBOO Boostheat
0.008xn/aUS$2.24k
No more companies available in this PS range
ALHEO 1.5xIndustry Avg. 0.9xNo. of Companies5PS00.40.81.21.62+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ALHEO is expensive based on its Price-To-Sales Ratio (1.5x) compared to the French Machinery industry average (0.8x).


Price to Sales Ratio vs Fair Ratio

What is ALHEO'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.

ALHEO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.5x
Fair PS Ratio0.3x

Price-To-Sales vs Fair Ratio: ALHEO is expensive based on its Price-To-Sales Ratio (1.5x) compared to the estimated Fair Price-To-Sales Ratio (0.3x).


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 ALHEO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
€2.78
0%
8.0%€2.91€2.39n/a4
Nov ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
Oct ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
Sep ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
Aug ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
Jul ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
Jun ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
May ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
Apr ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
Mar ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
Feb ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
Jan ’25n/a
€2.78
0%
8.0%€2.91€2.39n/a4
Dec ’24€2.83
€2.75
-2.9%
7.3%€2.85€2.35n/a5
Nov ’24€2.85
€2.84
-0.4%
6.3%€2.91€2.40n/a7
Oct ’24€1.70
€2.57
+51.4%
7.9%€2.81€2.28n/a9
Sep ’24€2.18
€2.56
+17.4%
5.5%€2.74€2.39n/a9
Aug ’24€1.97
€2.55
+29.6%
5.3%€2.76€2.41n/a8
Jul ’24€2.13
€2.49
+17.0%
4.7%€2.72€2.38n/a7
Jun ’24€2.10
€2.49
+18.6%
4.7%€2.72€2.38n/a7
May ’24€1.80
€2.51
+39.5%
6.1%€2.80€2.27n/a7
Apr ’24€1.89
€2.51
+32.8%
6.1%€2.80€2.27n/a7
Mar ’24€1.60
€2.51
+56.9%
6.1%€2.80€2.27n/a7
Feb ’24€1.73
€2.35
+35.7%
5.7%€2.48€2.07n/a7
Jan ’24€1.68
€2.35
+39.7%
5.7%€2.48€2.07n/a7
Dec ’23€1.60
€2.43
+51.8%
9.0%€2.62€2.00€2.837
Nov ’23€1.67
€2.56
+53.2%
8.7%€2.83€2.07€2.857

Analyst Forecast: Target price is lower than the current share price.


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