Mulberry Group Valuation

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

Below Fair Value: MUL (£1) is trading above our estimate of fair value (£0.14)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for MUL. This is calculated by dividing MUL's market cap by their current revenue.
What is MUL's PS Ratio?
PS Ratio	0.5x
Sales	UK£139.25m
Market Cap	UK£70.05m

MUL 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	1x
Enterprise Value/EBITDA	-7.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for MUL 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
SOS Sosandar	0.5x	8.6%	UK£22.6m
BRBY Burberry Group	1.2x	1.9%	UK£3.3b
CHH Churchill China	1x	1.8%	UK£77.0m
CCT Character Group	0.4x	n/a	UK£52.1m
MUL Mulberry Group	0.5x	n/a	UK£70.1m

Price-To-Sales vs Peers: MUL is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does MUL's PS Ratio compare vs other companies in the European Luxury Industry?

16 Companies	Price / Sales	Estimated Growth	Market Cap

16 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: MUL is good value based on its Price-To-Sales Ratio (0.5x) compared to the European Luxury industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is MUL'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.

MUL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.5x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate MUL'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.