DocMorris Valuation

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

0RRB (CHF29.78) is trading below our estimate of [[fair value]] (CHF271.32)

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: 0RRB (CHF29.78) is trading below our estimate of fair value (CHF271.32)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for 0RRB. This is calculated by dividing 0RRB's market cap by their current revenue.
What is 0RRB's PS Ratio?
PS Ratio	0.4x
Sales	CHF 1.00b
Market Cap	CHF 382.52m

0RRB 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	0.6x
Enterprise Value/EBITDA	-10x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for 0RRB 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	0.9x
KITW Kitwave Group	0.4x	12.0%	UK£256.6m
CBOX Cake Box Holdings	2x	8.1%	UK£78.0m
WINE Naked Wines	0.1x	-8.6%	UK£37.7m
OCDO Ocado Group	0.9x	8.4%	UK£2.7b
0RRB DocMorris	0.4x	16.3%	CHF 382.5m

Price-To-Sales vs Peers: 0RRB is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (0.9x).

Price to Sales Ratio vs Industry

How does 0RRB's PS Ratio compare vs other companies in the European Consumer Retailing Industry?

10 Companies	Price / Sales	Estimated Growth	Market Cap

10 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 0RRB is expensive based on its Price-To-Sales Ratio (0.4x) compared to the European Consumer Retailing industry average (0.3x).

Price to Sales Ratio vs Fair Ratio

What is 0RRB'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.

0RRB PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	0.5x

Price-To-Sales vs Fair Ratio: 0RRB is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

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 0RRB 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	CHF 29.78	CHF 52.33 +75.7%	33.6%	CHF 90.00	CHF 25.00	n/a	12
Nov ’25	CHF 34.98	CHF 52.50 +50.1%	33.3%	CHF 90.00	CHF 25.00	n/a	12
Oct ’25	CHF 38.02	CHF 65.92 +73.4%	40.0%	CHF 125.00	CHF 27.00	n/a	12
Sep ’25	CHF 38.70	CHF 78.00 +101.6%	35.5%	CHF 125.00	CHF 27.00	n/a	12
Aug ’25	CHF 44.54	CHF 88.50 +98.7%	28.2%	CHF 125.00	CHF 29.00	n/a	12
Jul ’25	CHF 52.95	CHF 98.58 +86.2%	26.3%	CHF 130.00	CHF 29.00	n/a	12
Jun ’25	CHF 67.10	CHF 99.24 +47.9%	25.5%	CHF 130.00	CHF 31.90	n/a	12
May ’25	CHF 82.05	CHF 99.24 +21.0%	25.5%	CHF 130.00	CHF 31.90	n/a	12
Apr ’25	CHF 90.64	CHF 88.91 -1.9%	26.5%	CHF 115.00	CHF 29.00	n/a	11
Mar ’25	CHF 78.20	CHF 77.92 -0.4%	28.8%	CHF 105.00	CHF 29.00	n/a	12
Feb ’25	CHF 78.94	CHF 77.92 -1.3%	28.8%	CHF 105.00	CHF 29.00	n/a	12
Jan ’25	CHF 73.37	CHF 69.00 -6.0%	31.9%	CHF 102.00	CHF 29.00	n/a	12
Dec ’24	CHF 58.72	CHF 62.27 +6.1%	31.4%	CHF 95.00	CHF 29.00	n/a	11
Nov ’24	CHF 37.52	CHF 62.27 +66.0%	31.4%	CHF 95.00	CHF 29.00	CHF 34.98	11
Oct ’24	CHF 50.69	CHF 64.86 +28.0%	30.1%	CHF 95.00	CHF 29.50	CHF 38.02	11
Sep ’24	CHF 59.41	CHF 62.38 +5.0%	32.8%	CHF 95.00	CHF 29.50	CHF 38.70	12
Aug ’24	CHF 53.05	CHF 52.50 -1.0%	27.0%	CHF 80.00	CHF 27.00	CHF 44.54	12
Jul ’24	CHF 39.34	CHF 51.25 +30.3%	27.5%	CHF 80.00	CHF 27.00	CHF 52.95	12
Jun ’24	CHF 30.58	CHF 53.08 +73.6%	23.4%	CHF 80.00	CHF 37.00	CHF 67.10	12
May ’24	CHF 39.03	CHF 53.62 +37.4%	23.1%	CHF 80.00	CHF 31.00	CHF 82.05	13
Apr ’24	CHF 42.61	CHF 54.62 +28.2%	22.7%	CHF 80.00	CHF 31.00	CHF 90.64	13
Mar ’24	CHF 48.84	CHF 54.33 +11.2%	19.3%	CHF 71.00	CHF 31.00	CHF 78.20	12
Feb ’24	CHF 34.18	CHF 37.96 +11.1%	61.4%	CHF 106.00	CHF 19.00	CHF 78.94	12
Jan ’24	CHF 25.86	CHF 53.96 +108.6%	97.9%	CHF 210.00	CHF 19.00	CHF 73.37	12
Dec ’23	CHF 27.26	CHF 54.04 +98.3%	97.7%	CHF 210.00	CHF 19.00	CHF 58.72	12
Nov ’23	CHF 28.95	CHF 54.96 +89.9%	95.2%	CHF 210.00	CHF 19.00	CHF 37.52	12

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.