Keyrus Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: ALKEY (€8) is trading below our estimate of fair value (€21.81)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for ALKEY. This is calculated by dividing ALKEY's market cap by their current revenue.
What is ALKEY's PS Ratio?
PS Ratio	0.4x
Sales	€361.72m
Market Cap	€127.23m

ALKEY 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	0.6x
Enterprise Value/EBITDA	14.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for ALKEY 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	0.8x
S30 Solutions 30	0.09x	6.4%	€102.3m
SQI SQLI	1x	2.9%	€249.9m
INF Infotel	1x	3.6%	€295.9m
SWP Sword Group	1.1x	13.8%	€347.5m
ALKEY Keyrus	0.4x	n/a	€127.2m

Price-To-Sales vs Peers: ALKEY is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does ALKEY's PS Ratio compare vs other companies in the FR IT Industry?

3 Companies	Price / Sales	Estimated Growth	Market Cap
S30 Solutions 30	0.09x	6.4%	US$107.98m
ATO Atos	0.002x	-1.6%	US$28.48m
FPG Union Technologies Informatique Group	0.08x	n/a	US$1.86m

No more companies available in this PS range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: ALKEY is good value based on its Price-To-Sales Ratio (0.4x) compared to the European IT industry average (0.9x).

Price to Sales Ratio vs Fair Ratio

What is ALKEY'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.

ALKEY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate ALKEY's Price-To-Sales Fair Ratio for valuation analysis.

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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