Crest Nicholson Holdings plc

LSE:CRST Stock Report

Market Cap: UK£392.2m

Crest Nicholson Holdings Valuation

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

Below Fair Value: CRST (£1.51) is trading above our estimate of fair value (£0.66)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for CRST. This is calculated by dividing CRST's market cap by their current revenue.
What is CRST's PS Ratio?
PS Ratio0.6x
SalesUK£632.30m
Market CapUK£392.17m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for CRST vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1x
GLE MJ Gleeson
0.9x10.7%UK£301.2m
BOOT Henry Boot
1x10.7%UK£304.7m
SPR Springfield Properties
0.4x3.9%UK£109.8m
CRN Cairn Homes
1.6x7.7%UK£1.1b
CRST Crest Nicholson Holdings
0.6x4.3%UK£392.2m

Price-To-Sales vs Peers: CRST is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (1x).

Price to Sales Ratio vs Industry

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

1 CompanyPrice / SalesEstimated GrowthMarket Cap
VCP Victoria
0.04x-0.06%US$73.92m
No more companies available in this PS range
CRST 0.6xIndustry Avg. 0.8xNo. of Companies4PS00.40.81.21.62+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CRST is good value based on its Price-To-Sales Ratio (0.6x) compared to the UK Consumer Durables industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is CRST'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.

CRST PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio0.4x

Price-To-Sales vs Fair Ratio: CRST is expensive based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (0.4x).

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 CRST forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£1.51
UK£2.09
+38.3%
13.4%UK£2.55UK£1.68n/a12
Nov ’25UK£1.68
UK£2.20
+30.8%
10.3%UK£2.55UK£1.80n/a12
Oct ’25UK£1.89
UK£2.33
+23.7%
12.0%UK£2.80UK£1.80n/a12
Sep ’25UK£2.05
UK£2.39
+16.1%
14.4%UK£3.07UK£1.80n/a12
Aug ’25UK£2.64
UK£2.55
-3.3%
12.9%UK£3.07UK£1.80n/a10
Jul ’25UK£2.45
UK£2.46
+0.5%
10.7%UK£2.80UK£1.80n/a10
Jun ’25UK£2.37
UK£2.26
-4.3%
13.2%UK£2.64UK£1.75n/a11
May ’25UK£1.87
UK£2.28
+21.8%
14.1%UK£2.80UK£1.75n/a11
Apr ’25UK£1.93
UK£2.25
+16.5%
15.7%UK£2.80UK£1.60n/a11
Mar ’25UK£2.15
UK£2.25
+4.7%
15.7%UK£2.80UK£1.60n/a11
Feb ’25UK£2.07
UK£2.25
+8.6%
15.7%UK£2.80UK£1.60n/a11
Jan ’25UK£2.17
UK£2.19
+0.7%
23.4%UK£3.31UK£1.30n/a11
Dec ’24UK£1.92
UK£2.18
+13.5%
23.4%UK£3.31UK£1.30n/a11
Nov ’24UK£1.66
UK£2.19
+32.3%
21.9%UK£3.22UK£1.40UK£1.6811
Oct ’24UK£1.74
UK£2.21
+27.1%
22.0%UK£3.45UK£1.40UK£1.8913
Sep ’24UK£1.78
UK£2.35
+32.0%
25.1%UK£3.46UK£1.40UK£2.0512
Aug ’24UK£2.14
UK£2.63
+22.9%
19.4%UK£3.46UK£1.50UK£2.6412
Jul ’24UK£1.88
UK£2.67
+41.7%
16.1%UK£3.46UK£2.00UK£2.4512
Jun ’24UK£2.48
UK£2.72
+9.5%
16.2%UK£3.50UK£2.10UK£2.3711
May ’24UK£2.69
UK£2.64
-1.9%
16.9%UK£3.50UK£2.10UK£1.8711
Apr ’24UK£2.18
UK£2.57
+17.5%
19.1%UK£3.50UK£1.80UK£1.9311
Mar ’24UK£2.37
UK£2.56
+7.7%
17.3%UK£3.50UK£1.80UK£2.1512
Feb ’24UK£2.44
UK£2.56
+5.0%
17.6%UK£3.50UK£1.80UK£2.0712
Jan ’24UK£2.37
UK£2.51
+5.9%
17.5%UK£3.50UK£1.70UK£2.1712
Dec ’23UK£2.33
UK£2.52
+8.5%
14.7%UK£3.50UK£2.10UK£1.9212
Nov ’23UK£2.03
UK£2.86
+40.7%
26.6%UK£4.60UK£2.10UK£1.6611

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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