TCM Group Valuation

Q: What is the Fair Price of 0CUN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

0CUN (DKK68.2) is trading below our estimate of [[fair value]] (DKK114.27)

Is 0CUN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0CUN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0CUN (DKK68.2) is trading below our estimate of fair value (DKK114.27)

Significantly Below Fair Value: 0CUN is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0CUN?

Key metric: As 0CUN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0CUN. This is calculated by dividing 0CUN's market cap by their current earnings.
What is 0CUN's PE Ratio?
PE Ratio	17.4x
Earnings	DKK 40.32m
Market Cap	DKK 701.61m

0CUN 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	0.8x
Enterprise Value/EBITDA	9.1x
PEG Ratio	0.5x

Price to Earnings Ratio vs Peers

How does 0CUN's PE Ratio compare to its peers?

The above table shows the PE ratio for 0CUN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	39.4x
CFX Colefax Group	8.4x	-2.0%	UK£48.4m
SDG Sanderson Design Group	10x	7.0%	UK£45.4m
AIEA AIREA	129.6x	n/a	UK£8.3m
CHH Churchill China	9.8x	-3.6%	UK£77.0m
0CUN TCM Group	17.4x	33.2%	DKK 701.6m

Price-To-Earnings vs Peers: 0CUN is good value based on its Price-To-Earnings Ratio (17.4x) compared to the peer average (39.4x).

Price to Earnings Ratio vs Industry

How does 0CUN's PE Ratio compare vs other companies in the European Consumer Durables Industry?

5 Companies	Price / Earnings	Estimated Growth	Market Cap

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 0CUN is expensive based on its Price-To-Earnings Ratio (17.4x) compared to the European Consumer Durables industry average (12.4x).

Price to Earnings Ratio vs Fair Ratio

What is 0CUN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0CUN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	17.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 0CUN's Price-To-Earnings 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 0CUN 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	n/a	DKK 82.50 0%	3.0%	DKK 85.00	DKK 80.00	n/a	2
Nov ’25	n/a	DKK 82.50 0%	3.0%	DKK 85.00	DKK 80.00	n/a	2
Oct ’25	n/a	DKK 82.50 0%	3.0%	DKK 85.00	DKK 80.00	n/a	2
Sep ’25	n/a	DKK 72.50 0%	10.3%	DKK 80.00	DKK 65.00	n/a	2
Aug ’25	n/a	DKK 73.00 0%	9.6%	DKK 80.00	DKK 66.00	n/a	2
Jul ’25	n/a	DKK 73.00 0%	9.6%	DKK 80.00	DKK 66.00	n/a	2
Jun ’25	n/a	DKK 68.00 0%	17.6%	DKK 80.00	DKK 56.00	n/a	2
May ’25	n/a	DKK 63.00 0%	11.1%	DKK 70.00	DKK 56.00	n/a	2
Apr ’25	n/a	DKK 63.00 0%	11.1%	DKK 70.00	DKK 56.00	n/a	2
Mar ’25	n/a	DKK 51.00 0%	17.6%	DKK 60.00	DKK 42.00	n/a	2
Feb ’25	n/a	DKK 51.00 0%	17.6%	DKK 60.00	DKK 42.00	n/a	2
Jan ’25	n/a	DKK 51.00 0%	17.6%	DKK 60.00	DKK 42.00	n/a	2
Dec ’24	n/a	DKK 51.00 0%	17.6%	DKK 60.00	DKK 42.00	n/a	2
Oct ’24	DKK 51.60	DKK 75.00 +45.3%	20.0%	DKK 90.00	DKK 60.00	n/a	2
Sep ’24	n/a	DKK 75.00 0%	20.0%	DKK 90.00	DKK 60.00	n/a	2
Aug ’24	DKK 66.00	DKK 75.00 +13.6%	20.0%	DKK 90.00	DKK 60.00	n/a	2
Jul ’24	DKK 68.00	DKK 75.00 +10.3%	20.0%	DKK 90.00	DKK 60.00	n/a	2
Jun ’24	n/a	DKK 80.00 0%	25.0%	DKK 100.00	DKK 60.00	n/a	2
May ’24	n/a	DKK 80.00 0%	25.0%	DKK 100.00	DKK 60.00	n/a	2
Apr ’24	n/a	DKK 82.50 0%	21.2%	DKK 100.00	DKK 65.00	n/a	2
Mar ’24	DKK 67.70	DKK 80.00 +18.2%	25.0%	DKK 100.00	DKK 60.00	n/a	2
Feb ’24	DKK 72.20	DKK 94.50 +30.9%	36.5%	DKK 129.00	DKK 60.00	n/a	2

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.