Caledonia Investments Valuation

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

Below Fair Value: CLDN (£34) is trading below our estimate of fair value (£122)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for CLDN. This is calculated by dividing CLDN's market cap by their current earnings.
What is CLDN's PE Ratio?
PE Ratio	8.9x
Earnings	UK£203.80m
Market Cap	UK£1.82b

CLDN 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	6.7x
Enterprise Value/EBITDA	7.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for CLDN 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	27.1x
HICL HICL Infrastructure	79x	n/a	UK£2.4b
OCI Oakley Capital Investments	10x	n/a	UK£880.3m
RCP RIT Capital Partners	11.3x	n/a	UK£2.7b
LWDB Law Debenture	8.3x	n/a	UK£1.2b
CLDN Caledonia Investments	8.9x	n/a	UK£1.8b

Price-To-Earnings vs Peers: CLDN is good value based on its Price-To-Earnings Ratio (8.9x) compared to the peer average (27.1x).

Price to Earnings Ratio vs Industry

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

5 Companies	Price / Earnings	Estimated Growth	Market Cap
CBA CEIBA Investments	2.8x	n/a	US$42.52m
PNIX Phoenix Digital Assets	1.1x	n/a	US$32.25m
IX. i(x) Net Zero	0.1x	n/a	US$8.94m
APQ APQ Global	0.4x	n/a	US$5.78m

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: CLDN is good value based on its Price-To-Earnings Ratio (8.9x) compared to the UK Capital Markets industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is CLDN'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.

CLDN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	8.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CLDN's Price-To-Earnings 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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