Victoria Valuation

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

VCP (£0.48) is trading below our estimate of [[fair value]] (£4.15)

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

Below Fair Value: VCP (£0.48) is trading below our estimate of fair value (£4.15)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for VCP. This is calculated by dividing VCP's market cap by their current revenue.
What is VCP's PS Ratio?
PS Ratio	0.04x
Sales	UK£1.27b
Market Cap	UK£58.49m

VCP 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	0.9x
Enterprise Value/EBITDA	7.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for VCP 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	0.6x
CFX Colefax Group	0.5x	0.9%	UK£48.4m
SDG Sanderson Design Group	0.4x	3.5%	UK£45.4m
AIEA AIREA	0.4x	n/a	UK£8.3m
CHH Churchill China	1x	1.8%	UK£77.0m
VCP Victoria	0.04x	-0.06%	UK£54.2m

Price-To-Sales vs Peers: VCP is good value based on its Price-To-Sales Ratio (0x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

How does VCP's PS Ratio compare vs other companies in the GB Consumer Durables Industry?

1 Company	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	0.8x	8.5%
VCP Victoria	0.04x	-0.06%	US$68.21m

No more companies available in this PS range

1 Company		Estimated Growth	Market Cap
Industry Avg.	0.8x	20.9%
VCP Victoria	0.04x	106.6%	US$68.21m

No more companies

Price-To-Sales vs Industry: VCP is good value based on its Price-To-Sales Ratio (0x) compared to the UK Consumer Durables industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is VCP'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.

VCP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.04x
Fair PS Ratio	0.3x

Price-To-Sales vs Fair Ratio: VCP is good value based on its Price-To-Sales Ratio (0x) 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 VCP forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	UK£0.47	UK£1.80 +278.9%	5.6%	UK£1.90	UK£1.70	n/a	2
Nov ’25	UK£0.98	UK£1.80 +83.9%	5.6%	UK£1.90	UK£1.70	n/a	2
Oct ’25	UK£1.36	UK£3.18 +133.5%	5.5%	UK£3.35	UK£3.00	n/a	2
Sep ’25	UK£1.38	UK£3.18 +130.7%	5.5%	UK£3.35	UK£3.00	n/a	2
Aug ’25	UK£1.60	UK£3.18 +98.4%	5.5%	UK£3.35	UK£3.00	n/a	2
Jul ’25	UK£1.72	UK£3.18 +84.6%	5.5%	UK£3.35	UK£3.00	n/a	2
Jun ’25	UK£1.95	UK£4.28 +119.4%	42.4%	UK£6.85	UK£3.00	n/a	3
May ’25	UK£1.95	UK£4.28 +119.7%	42.4%	UK£6.85	UK£3.00	n/a	3
Apr ’25	UK£2.65	UK£4.28 +61.9%	42.4%	UK£6.85	UK£3.00	n/a	3
Mar ’25	UK£2.56	UK£5.62 +119.4%	21.3%	UK£6.85	UK£4.00	n/a	3
Feb ’25	UK£2.63	UK£5.62 +114.0%	21.3%	UK£6.85	UK£4.00	n/a	3
Jan ’25	UK£3.02	UK£5.62 +86.0%	21.3%	UK£6.85	UK£4.00	n/a	3
Dec ’24	UK£2.54	UK£5.00 +96.9%	20.0%	UK£6.00	UK£4.00	n/a	2
Nov ’24	UK£3.22	UK£8.40 +160.9%	4.8%	UK£8.80	UK£8.00	UK£0.98	2
Oct ’24	UK£5.20	UK£8.40 +61.5%	4.8%	UK£8.80	UK£8.00	UK£1.36	2
Sep ’24	UK£5.62	UK£8.40 +49.5%	4.8%	UK£8.80	UK£8.00	UK£1.38	2
Aug ’24	UK£7.09	UK£8.40 +18.5%	4.8%	UK£8.80	UK£8.00	UK£1.60	2
Jul ’24	UK£5.89	UK£8.40 +42.6%	4.8%	UK£8.80	UK£8.00	UK£1.72	2
Jun ’24	UK£5.53	UK£7.88 +42.6%	10.2%	UK£8.80	UK£6.85	UK£1.95	3
May ’24	UK£5.21	UK£7.88 +51.3%	10.2%	UK£8.80	UK£6.85	UK£1.95	3
Apr ’24	UK£4.90	UK£7.88 +60.9%	10.2%	UK£8.80	UK£6.85	UK£2.65	3
Mar ’24	UK£5.82	UK£7.88 +35.5%	10.2%	UK£8.80	UK£6.85	UK£2.56	3
Feb ’24	UK£4.68	UK£7.88 +68.4%	10.2%	UK£8.80	UK£6.85	UK£2.63	3
Jan ’24	UK£4.81	UK£7.88 +63.9%	10.2%	UK£8.80	UK£6.85	UK£3.02	3
Dec ’23	UK£4.33	UK£7.88 +82.1%	10.2%	UK£8.80	UK£6.85	UK£2.54	3
Nov ’23	UK£4.71	UK£8.22 +74.5%	11.8%	UK£9.00	UK£6.85	UK£3.22	3

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.