Aquis Exchange PLC

AIM:AQX Stock Report

Market Cap: UK£186.2m

Aquis Exchange Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: AQX (£7.05) is trading above our estimate of fair value (£3.24)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for AQX. This is calculated by dividing AQX's market cap by their current earnings.
What is AQX's PE Ratio?
PE Ratio37.5x
EarningsUK£4.97m
Market CapUK£186.21m

Price to Earnings Ratio vs Peers

How does AQX's PE Ratio compare to its peers?

The above table shows the PE ratio for AQX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15x
IHP IntegraFin Holdings
24x9.5%UK£1.3b
REC Record
12.6x8.2%UK£120.0m
CLIG City of London Investment Group
14x25.4%UK£189.5m
MGCI M&G Credit Income Investment Trust
9.5xn/aUK£139.0m
AQX Aquis Exchange
37.5x10.6%UK£186.2m

Price-To-Earnings vs Peers: AQX is expensive based on its Price-To-Earnings Ratio (37.5x) compared to the peer average (15x).

Price to Earnings Ratio vs Industry

How does AQX's PE Ratio compare vs other companies in the GB Capital Markets Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PNIX Phoenix Digital Assets
1.1xn/aUS$32.25m
IX. i(x) Net Zero
0.1xn/aUS$8.94m
APQ APQ Global
0.4xn/aUS$5.78m
No more companies available in this PE range
AQX 37.5xIndustry Avg. 12.1xNo. of Companies16PE01020304050+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AQX is expensive based on its Price-To-Earnings Ratio (37.5x) compared to the UK Capital Markets industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is AQX'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.

AQX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio37.5x
Fair PE Ratio16.9x

Price-To-Earnings vs Fair Ratio: AQX is expensive based on its Price-To-Earnings Ratio (37.5x) compared to the estimated Fair Price-To-Earnings Ratio (16.9x).

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 AQX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£7.05
UK£7.88
+11.7%
21.9%UK£9.60UK£6.15n/a2
Nov ’25UK£3.32
UK£8.05
+142.5%
17.8%UK£9.60UK£6.15n/a3
Oct ’25UK£3.70
UK£8.05
+117.6%
17.8%UK£9.60UK£6.15n/a3
Sep ’25UK£3.90
UK£8.05
+106.4%
17.8%UK£9.60UK£6.15n/a3
Aug ’25UK£4.94
UK£8.42
+70.5%
12.0%UK£9.67UK£7.20n/a3
Jul ’25UK£4.71
UK£8.42
+78.8%
12.0%UK£9.67UK£7.20n/a3
Jun ’25UK£4.68
UK£8.42
+80.0%
12.0%UK£9.67UK£7.20n/a3
May ’25UK£4.65
UK£8.42
+81.1%
12.0%UK£9.67UK£7.20n/a3
Apr ’25UK£3.88
UK£8.42
+117.1%
12.0%UK£9.67UK£7.20n/a3
Mar ’25UK£3.60
UK£8.55
+137.6%
13.7%UK£10.06UK£7.20n/a3
Feb ’25UK£3.65
UK£8.55
+134.3%
13.7%UK£10.06UK£7.20n/a3
Jan ’25UK£3.65
UK£8.57
+134.8%
13.5%UK£10.06UK£7.25n/a3
Dec ’24UK£3.65
UK£8.57
+134.8%
13.5%UK£10.06UK£7.25n/a3
Nov ’24UK£3.58
UK£8.57
+139.4%
13.5%UK£10.06UK£7.25UK£3.323
Oct ’24UK£3.64
UK£8.60
+136.3%
11.6%UK£10.06UK£7.25UK£3.704
Sep ’24UK£3.60
UK£8.61
+139.1%
11.7%UK£10.08UK£7.25UK£3.904
Aug ’24UK£3.80
UK£8.61
+126.5%
11.7%UK£10.08UK£7.25UK£4.944
Jul ’24UK£3.90
UK£8.61
+120.7%
11.7%UK£10.08UK£7.25UK£4.714
Jun ’24UK£4.05
UK£8.61
+112.5%
11.7%UK£10.08UK£7.25UK£4.684
May ’24UK£4.10
UK£9.06
+121.0%
8.1%UK£10.08UK£8.40UK£4.653
Apr ’24UK£3.90
UK£8.82
+126.1%
8.6%UK£10.08UK£8.09UK£3.884
Mar ’24UK£4.05
UK£8.80
+117.3%
9.5%UK£10.22UK£8.09UK£3.604
Feb ’24UK£3.85
UK£8.80
+128.6%
9.5%UK£10.22UK£8.09UK£3.654
Jan ’24UK£3.80
UK£8.80
+131.6%
9.5%UK£10.22UK£8.09UK£3.654
Dec ’23UK£4.35
UK£8.80
+102.3%
9.5%UK£10.22UK£8.09UK£3.654
Nov ’23UK£3.05
UK£8.80
+188.6%
9.5%UK£10.22UK£8.09UK£3.584

Analyst Forecast: Target price is less than 20% higher than the current share price.

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