Fonix Valuation

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

FNX (£2.18) is trading above our estimate of [[fair value]] (£2.02)

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: FNX (£2.18) is trading above our estimate of fair value (£2.02)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for FNX. This is calculated by dividing FNX's market cap by their current earnings.
What is FNX's PE Ratio?
PE Ratio	20.3x
Earnings	UK£10.62m
Market Cap	UK£215.49m

FNX 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	2.5x
Enterprise Value/EBITDA	14.7x
PEG Ratio	9.1x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for FNX 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	31.8x
CABP CAB Payments Holdings	9.2x	27.2%	UK£177.9m
BOKU Boku	95.2x	38.6%	UK£548.2m
PAY PayPoint	14.4x	n/a	UK£576.8m
FIN Finseta	8.3x	12.1%	UK£21.2m
FNX Fonix	20.3x	2.2%	UK£215.5m

Price-To-Earnings vs Peers: FNX is good value based on its Price-To-Earnings Ratio (20.3x) compared to the peer average (31.8x).

Price to Earnings Ratio vs Industry

How does FNX's PE Ratio compare vs other companies in the GB Diversified Financial Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap
NBS Nationwide Building Society	0.9x	n/a	US$1.51b

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: FNX is expensive based on its Price-To-Earnings Ratio (20.3x) compared to the UK Diversified Financial industry average (13.3x).

Price to Earnings Ratio vs Fair Ratio

What is FNX'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.

FNX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	20.3x
Fair PE Ratio	12x

Price-To-Earnings vs Fair Ratio: FNX is expensive based on its Price-To-Earnings Ratio (20.3x) compared to the estimated Fair Price-To-Earnings Ratio (12x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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