Bang & Olufsen Valuation

Is 0MRM 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 0MRM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0MRM (DKK9.09) is trading below our estimate of fair value (DKK25.54)

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

Key Valuation Metric

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

Key metric: As 0MRM is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0MRM. This is calculated by dividing 0MRM's market cap by their current revenue.
What is 0MRM's PS Ratio?
PS Ratio	0.4x
Sales	DKK 2.51b
Market Cap	DKK 1.08b

0MRM 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	0.5x
Enterprise Value/EBITDA	10.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 0MRM's PS Ratio compare to its peers?

The above table shows the PS ratio for 0MRM 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
TUNE Focusrite	0.8x	0.1%	UK£143.5m
VID Videndum	0.8x	8.9%	UK£247.7m
IGR IG Design Group	0.2x	-0.2%	UK£121.5m
SPR Springfield Properties	0.4x	3.9%	UK£110.4m
0MRM Bang & Olufsen	0.4x	9.1%	DKK 1.1b

Price-To-Sales vs Peers: 0MRM is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

How does 0MRM's PS Ratio compare vs other companies in the GB Consumer Durables Industry?

2 Companies	Price / Sales	Estimated Growth	Market Cap
VCP Victoria	0.05x	-0.06%	US$78.77m
NTBR Northern Bear	0.1x	5.1%	US$9.01m

No more companies available in this PS range

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 0MRM is good value based on its Price-To-Sales Ratio (0.4x) compared to the UK Consumer Durables industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is 0MRM'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.

0MRM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	0.9x

Price-To-Sales vs Fair Ratio: 0MRM is good value based on its Price-To-Sales Ratio (0.4x) 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 0MRM 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 12.50 0%	4.0%	DKK 13.00	DKK 12.00	n/a	2
Nov ’25	DKK 9.09	DKK 12.50 +37.5%	4.0%	DKK 13.00	DKK 12.00	n/a	2
Oct ’25	DKK 9.06	DKK 12.50 +38.0%	4.0%	DKK 13.00	DKK 12.00	n/a	2
Sep ’25	DKK 8.68	DKK 12.50 +44.0%	4.0%	DKK 13.00	DKK 12.00	n/a	2
Aug ’25	n/a	DKK 12.50 0%	4.0%	DKK 13.00	DKK 12.00	n/a	2
Jul ’25	DKK 10.06	DKK 11.50 +14.3%	13.0%	DKK 13.00	DKK 10.00	n/a	2
Jun ’25	n/a	DKK 11.50 0%	13.0%	DKK 13.00	DKK 10.00	n/a	2
May ’25	DKK 9.43	DKK 11.50 +22.0%	13.0%	DKK 13.00	DKK 10.00	n/a	2
Apr ’25	DKK 9.35	DKK 12.25 +31.0%	6.1%	DKK 13.00	DKK 11.50	n/a	2
Mar ’25	DKK 9.40	DKK 13.25 +41.0%	13.2%	DKK 15.00	DKK 11.50	n/a	2
Feb ’25	DKK 9.62	DKK 13.25 +37.7%	13.2%	DKK 15.00	DKK 11.50	n/a	2
Jan ’25	DKK 9.68	DKK 13.50 +39.5%	11.1%	DKK 15.00	DKK 12.00	n/a	2
Dec ’24	DKK 9.66	DKK 13.50 +39.8%	11.1%	DKK 15.00	DKK 12.00	n/a	2
Nov ’24	DKK 8.80	DKK 13.50 +53.4%	11.1%	DKK 15.00	DKK 12.00	DKK 9.09	2
Oct ’24	DKK 8.63	DKK 13.50 +56.4%	11.1%	DKK 15.00	DKK 12.00	DKK 9.06	2
Sep ’24	DKK 9.05	DKK 13.50 +49.2%	11.1%	DKK 15.00	DKK 12.00	DKK 8.68	2
Aug ’24	DKK 10.31	DKK 13.50 +30.9%	11.1%	DKK 15.00	DKK 12.00	n/a	2
Jul ’24	DKK 10.60	DKK 13.50 +27.4%	11.1%	DKK 15.00	DKK 12.00	DKK 10.06	2
Jun ’24	DKK 11.48	DKK 13.50 +17.6%	11.1%	DKK 15.00	DKK 12.00	n/a	2
May ’24	DKK 9.49	DKK 13.50 +42.3%	11.1%	DKK 15.00	DKK 12.00	DKK 9.43	2
Apr ’24	DKK 9.73	DKK 13.50 +38.7%	11.1%	DKK 15.00	DKK 12.00	DKK 9.35	2
Mar ’24	DKK 12.82	DKK 13.75 +7.3%	9.1%	DKK 15.00	DKK 12.50	DKK 9.40	2
Feb ’24	DKK 11.94	DKK 13.75 +15.2%	9.1%	DKK 15.00	DKK 12.50	DKK 9.62	2
Jan ’24	DKK 8.45	DKK 10.50 +24.3%	4.8%	DKK 11.00	DKK 10.00	DKK 9.68	2
Dec ’23	DKK 9.96	DKK 10.50 +5.5%	4.8%	DKK 11.00	DKK 10.00	DKK 9.66	2
Nov ’23	DKK 8.90	DKK 10.50 +18.0%	4.8%	DKK 11.00	DKK 10.00	DKK 8.80	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.