Motor Oil (Hellas) Corinth Refineries Valuation

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

0MQT (€20.07) is trading below our estimate of [[fair value]] (€22.51)

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: 0MQT (€20.07) is trading below our estimate of fair value (€22.51)

Significantly Below Fair Value: 0MQT is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As 0MQT is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0MQT. This is calculated by dividing 0MQT's market cap by their current earnings.
What is 0MQT's PE Ratio?
PE Ratio	6.7x
Earnings	€308.76m
Market Cap	€2.08b

0MQT 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	0.3x
Enterprise Value/EBITDA	4.1x
PEG Ratio	-0.6x

Price to Earnings Ratio vs Peers

How does 0MQT's PE Ratio compare to its peers?

The above table shows the PE ratio for 0MQT 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	22.2x
ITH Ithaca Energy	14.9x	-8.8%	UK£1.9b
SEPL Seplat Energy	19.3x	13.4%	UK£1.3b
HBR Harbour Energy	48.9x	14.4%	UK£3.8b
DEC Diversified Energy	5.8x	1.1%	UK£655.6m
0MQT Motor Oil (Hellas) Corinth Refineries	6.7x	-11.1%	€2.1b

Price-To-Earnings vs Peers: 0MQT is good value based on its Price-To-Earnings Ratio (6.7x) compared to the peer average (22.3x).

Price to Earnings Ratio vs Industry

How does 0MQT's PE Ratio compare vs other companies in the GB Oil and Gas Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap
ROSN Rosneft Oil	1.5x	n/a	US$21.03b
INDI Indus Gas	0.9x	n/a	US$17.28m

No more companies available in this PE range

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 0MQT is good value based on its Price-To-Earnings Ratio (6.7x) compared to the UK Oil and Gas industry average (8.9x).

Price to Earnings Ratio vs Fair Ratio

What is 0MQT'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.

0MQT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6.7x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 0MQT'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?

The above table shows the analyst 0MQT 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	n/a	€27.00 0%	15.5%	€33.00	€20.20	n/a	9
Nov ’25	€20.07	€27.00 +34.5%	15.5%	€33.00	€20.20	n/a	9
Oct ’25	€21.30	€28.81 +35.3%	12.3%	€33.00	€20.20	n/a	9
Sep ’25	n/a	€28.81 0%	12.3%	€33.00	€20.20	n/a	9
Aug ’25	n/a	€29.34 0%	8.1%	€33.00	€25.00	n/a	9
Jul ’25	n/a	€29.39 0%	8.1%	€33.00	€25.00	n/a	8
Jun ’25	n/a	€29.39 0%	8.1%	€33.00	€25.00	n/a	8
May ’25	€27.22	€28.73 +5.5%	6.9%	€31.60	€25.00	n/a	7
Apr ’25	€27.30	€28.30 +3.7%	7.7%	€31.60	€25.00	n/a	7
Mar ’25	€26.24	€27.84 +6.1%	10.8%	€31.60	€21.80	n/a	7
Feb ’25	n/a	€27.84 0%	10.8%	€31.60	€21.80	n/a	7
Jan ’25	n/a	€27.84 0%	10.8%	€31.60	€21.80	n/a	7
Dec ’24	n/a	€26.64 0%	11.1%	€30.00	€21.80	n/a	7
Nov ’24	n/a	€25.83 0%	11.7%	€30.00	€20.20	€20.07	7
Oct ’24	n/a	€25.72 0%	12.5%	€30.00	€20.20	€21.30	6
Sep ’24	n/a	€25.84 0%	11.6%	€30.00	€20.20	n/a	7
Aug ’24	€23.38	€25.84 +10.5%	11.6%	€30.00	€20.20	n/a	7
Jul ’24	n/a	€25.77 0%	10.9%	€28.50	€20.20	n/a	7
Jun ’24	€24.12	€26.67 +10.6%	6.4%	€28.50	€23.20	n/a	7
May ’24	n/a	€27.45 0%	2.7%	€28.50	€26.60	€27.22	6
Apr ’24	€23.40	€27.28 +16.6%	2.6%	€28.50	€26.60	€27.30	6
Mar ’24	n/a	€27.36 0%	2.8%	€28.50	€26.60	€26.24	5
Feb ’24	€22.40	€26.37 +17.7%	8.8%	€28.50	€21.40	n/a	6
Jan ’24	n/a	€24.60 0%	9.8%	€28.00	€21.40	n/a	6
Dec ’23	n/a	€23.77 0%	8.1%	€26.70	€21.40	n/a	6
Nov ’23	n/a	€22.62 0%	6.3%	€25.50	€21.30	n/a	6

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.

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