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Hipgnosis Songs Fund Valuation

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

Below Fair Value: Insufficient data to calculate SONGL's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate SONGL's fair value for valuation analysis.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for SONGL. This is calculated by dividing SONGL's market cap by their current revenue.
What is SONGL's PS Ratio?
PS Ratio	12.7x
Sales	US$124.41m
Market Cap	US$1.58b

SONGL 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	17.4x
Enterprise Value/EBITDA	60.4x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for SONGL 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	5.9x
BBGI BBGI Global Infrastructure	13x	n/a	UK£893.6m
N91 Ninety One Group	2.5x	4.1%	UK£1.4b
ASHM Ashmore Group	6.1x	1.1%	UK£1.1b
RAT Rathbones Group	2x	4.5%	UK£1.7b
SONGL Hipgnosis Songs Fund	12.7x	n/a	UK£1.2b

Price-To-Sales vs Peers: SONGL is expensive based on its Price-To-Sales Ratio (12.7x) compared to the peer average (8.1x).

Price to Sales Ratio vs Industry

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

16 Companies	Price / Sales	Estimated Growth	Market Cap
STJ St. James's Place	0.2x	-98.6%	US$5.80b
QLT Quilter	0.3x	-83.2%	US$2.39b
RIV River and Mercantile Group	0.6x	-49.0%	US$50.18m
CAV Cavendish Financial	0.6x	n/a	US$48.15m

16 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: SONGL is expensive based on its Price-To-Sales Ratio (12.7x) compared to the UK Capital Markets industry average (3.2x).

Price to Sales Ratio vs Fair Ratio

What is SONGL'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.

SONGL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	12.7x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate SONGL's Price-To-Sales Fair Ratio for valuation analysis.

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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