AFC Energy plc

AIM:AFC Stock Report

Market Cap: UK£82.9m

AFC Energy Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: AFC (£0.1) is trading below our estimate of fair value (£0.24)

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

Key Valuation Metric

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

Key metric: As AFC barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for AFC. This is calculated by dividing AFC's market cap by their current book value.
What is AFC's PB Ratio?
PB Ratio3.6x
BookUK£23.23m
Market CapUK£82.87m

Price to Book Ratio vs Peers

How does AFC's PB Ratio compare to its peers?

The above table shows the PB ratio for AFC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1.4x
DWHT Dewhurst Group
1.5xn/aUK£60.3m
ROOF Atrato Onsite Energy
0.9xn/aUK£115.2m
DIA Dialight
1x85.6%UK£50.2m
LUCE Luceco
2.2x7.4%UK£203.0m
AFC AFC Energy
3.6x3.7%UK£82.9m

Price-To-Book vs Peers: AFC is expensive based on its Price-To-Book Ratio (3.6x) compared to the peer average (1.4x).

Price to Book Ratio vs Industry

How does AFC's PB Ratio compare vs other companies in the GB Electrical Industry?

0 CompaniesPrice / BookEstimated GrowthMarket Cap
No more companies available in this PB range
AFC 3.6xIndustry Avg. 1.7xNo. of Companies4PB00.81.62.43.24+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: AFC is expensive based on its Price-To-Book Ratio (3.6x) compared to the UK Electrical industry average (1.7x).

Price to Book Ratio vs Fair Ratio

What is AFC's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AFC PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio3.6x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate AFC's Price-To-Book 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?

The above table shows the analyst AFC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£0.097
UK£0.61
+531.4%
24.7%UK£0.80UK£0.40n/a4
Nov ’25UK£0.081
UK£0.75
+825.9%
42.9%UK£1.25UK£0.40n/a4
Oct ’25UK£0.10
UK£0.75
+628.2%
42.9%UK£1.25UK£0.40n/a4
Sep ’25UK£0.13
UK£0.75
+478.7%
42.9%UK£1.25UK£0.40n/a4
Aug ’25UK£0.15
UK£0.74
+397.0%
44.8%UK£1.25UK£0.40n/a4
Jul ’25UK£0.17
UK£0.79
+368.2%
44.5%UK£1.25UK£0.40n/a4
Jun ’25UK£0.23
UK£0.77
+230.2%
41.3%UK£1.25UK£0.40n/a5
May ’25UK£0.18
UK£0.77
+315.4%
41.3%UK£1.25UK£0.40n/a5
Apr ’25UK£0.17
UK£0.77
+337.7%
41.3%UK£1.25UK£0.40n/a5
Mar ’25UK£0.16
UK£0.80
+406.3%
39.3%UK£1.25UK£0.40n/a5
Feb ’25UK£0.19
UK£0.80
+318.8%
39.3%UK£1.25UK£0.40n/a5
Jan ’25UK£0.20
UK£0.80
+290.2%
39.3%UK£1.25UK£0.40n/a5
Dec ’24UK£0.14
UK£0.80
+476.4%
39.3%UK£1.25UK£0.40n/a5
Nov ’24UK£0.13
UK£0.80
+499.7%
39.3%UK£1.25UK£0.40UK£0.0815
Oct ’24UK£0.15
UK£0.75
+384.5%
44.5%UK£1.25UK£0.40UK£0.104
Sep ’24UK£0.15
UK£0.66
+330.9%
65.3%UK£1.25UK£0.13UK£0.134
Aug ’24UK£0.15
UK£0.74
+387.1%
62.6%UK£1.25UK£0.13UK£0.153
Jul ’24UK£0.13
UK£0.74
+487.3%
62.6%UK£1.25UK£0.13UK£0.173
Jun ’24UK£0.15
UK£0.75
+392.8%
60.1%UK£1.25UK£0.16UK£0.233
Apr ’24UK£0.21
UK£1.08
+412.8%
80.6%UK£1.95UK£0.21UK£0.172
Mar ’24UK£0.24
UK£1.08
+356.9%
80.6%UK£1.95UK£0.21UK£0.162
Feb ’24UK£0.22
UK£1.12
+420.0%
74.1%UK£1.95UK£0.29UK£0.192
Jan ’24UK£0.18
UK£1.12
+505.4%
74.1%UK£1.95UK£0.29UK£0.202
Dec ’23UK£0.21
UK£1.12
+430.8%
74.1%UK£1.95UK£0.29UK£0.142
Nov ’23UK£0.23
UK£1.12
+389.9%
74.1%UK£1.95UK£0.29UK£0.132

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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