CALIDA Holding AG

BATS-CHIXE:CALNZ Stock Report

Market Cap: CHF 182.6m

CALIDA Holding Valuation

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

Below Fair Value: CALNZ (CHF24.2) is trading below our estimate of fair value (CHF53.38)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for CALNZ. This is calculated by dividing CALNZ's market cap by their current revenue.
What is CALNZ's PS Ratio?
PS Ratio0.6x
SalesCHF 292.77m
Market CapCHF 182.56m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for CALNZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.8x
MUL Mulberry Group
0.5xn/aUK£82.7m
SOS Sosandar
0.5x8.6%UK£23.0m
BRBY Burberry Group
1.2x1.9%UK£3.2b
TUNE Focusrite
0.8x0.1%UK£141.8m
CALNZ CALIDA Holding
0.6x-0.009%CHF 182.6m

Price-To-Sales vs Peers: CALNZ is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

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

16 CompaniesPrice / SalesEstimated GrowthMarket Cap
No. of Companies17PS00.61.21.82.43+
16 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CALNZ is good value based on its Price-To-Sales Ratio (0.6x) compared to the European Luxury industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is CALNZ'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.

CALNZ PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio0.9x

Price-To-Sales vs Fair Ratio: CALNZ is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (0.9x).

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 CALNZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 24.20
CHF 30.50
+26.0%
11.5%CHF 34.00CHF 27.00n/a2
Nov ’25CHF 25.75
CHF 30.50
+18.4%
11.5%CHF 34.00CHF 27.00n/a2
Oct ’25CHF 29.15
CHF 30.50
+4.6%
11.5%CHF 34.00CHF 27.00n/a2
Sep ’25CHF 28.40
CHF 31.00
+9.2%
12.9%CHF 35.00CHF 27.00n/a2
Aug ’25CHF 29.20
CHF 31.00
+6.2%
12.9%CHF 35.00CHF 27.00n/a2
Jul ’25CHF 30.90
CHF 31.50
+1.9%
11.1%CHF 35.00CHF 28.00n/a2
Jun ’25CHF 31.50
CHF 31.50
0%
11.1%CHF 35.00CHF 28.00n/a2
May ’25CHF 29.05
CHF 31.50
+8.4%
11.1%CHF 35.00CHF 28.00n/a2
Apr ’25CHF 29.10
CHF 31.50
+8.2%
11.1%CHF 35.00CHF 28.00n/a2
Mar ’25CHF 28.55
CHF 32.50
+13.8%
13.8%CHF 37.00CHF 28.00n/a2
Feb ’25CHF 27.25
CHF 35.00
+28.4%
20.0%CHF 42.00CHF 28.00n/a2
Jan ’25CHF 29.55
CHF 38.00
+28.6%
10.5%CHF 42.00CHF 34.00n/a2
Dec ’24CHF 28.50
CHF 45.00
+57.9%
6.7%CHF 48.00CHF 42.00n/a2
Nov ’24CHF 25.50
CHF 45.00
+76.5%
6.7%CHF 48.00CHF 42.00CHF 25.752
Oct ’24CHF 30.30
CHF 45.00
+48.5%
6.7%CHF 48.00CHF 42.00CHF 29.152
Sep ’24CHF 31.65
CHF 45.00
+42.2%
6.7%CHF 48.00CHF 42.00CHF 28.402
Aug ’24CHF 35.65
CHF 46.00
+29.0%
4.3%CHF 48.00CHF 44.00CHF 29.202
Jul ’24CHF 34.15
CHF 47.00
+37.6%
6.4%CHF 50.00CHF 44.00CHF 30.902
Jun ’24CHF 40.00
CHF 57.50
+43.8%
4.3%CHF 60.00CHF 55.00CHF 31.502
May ’24CHF 41.50
CHF 57.50
+38.6%
4.3%CHF 60.00CHF 55.00CHF 29.052
Apr ’24CHF 41.95
CHF 57.50
+37.1%
4.3%CHF 60.00CHF 55.00CHF 29.102
Mar ’24CHF 45.05
CHF 56.00
+24.3%
7.1%CHF 60.00CHF 52.00CHF 28.552
Feb ’24CHF 45.55
CHF 58.50
+28.4%
2.6%CHF 60.00CHF 57.00CHF 27.252
Jan ’24CHF 46.85
CHF 58.50
+24.9%
2.6%CHF 60.00CHF 57.00CHF 29.552
Dec ’23CHF 47.60
CHF 58.50
+22.9%
2.6%CHF 60.00CHF 57.00CHF 28.502
Nov ’23CHF 42.65
CHF 58.50
+37.2%
2.6%CHF 60.00CHF 57.00CHF 25.502

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.

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