EnSilica plc

AIM:ENSI Stock Report

Market Cap: UK£42.5m

EnSilica Valuation

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

Below Fair Value: ENSI (£0.44) is trading below our estimate of fair value (£1.65)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for ENSI. This is calculated by dividing ENSI's market cap by their current revenue.
What is ENSI's PS Ratio?
PS Ratio1.7x
SalesUK£25.27m
Market CapUK£42.50m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for ENSI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.9x
KMK Kromek Group
2xn/aUK£38.5m
CYAN CyanConnode Holdings
1.9x47.0%UK£35.3m
CML CML Microsystems
1.5xn/aUK£38.2m
NANO Nanoco Group
2.1xn/aUK£16.7m
ENSI EnSilica
1.7x15.0%UK£42.5m

Price-To-Sales vs Peers: ENSI is good value based on its Price-To-Sales Ratio (1.7x) compared to the peer average (1.9x).

Price to Sales Ratio vs Industry

How does ENSI's PS Ratio compare vs other companies in the European Semiconductor Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
ENSI 1.7xIndustry Avg. 1.7xNo. of Companies7PS012345+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ENSI is expensive based on its Price-To-Sales Ratio (1.7x) compared to the European Semiconductor industry average (1.7x).

Price to Sales Ratio vs Fair Ratio

What is ENSI'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.

ENSI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.7x
Fair PS Ratio1.3x

Price-To-Sales vs Fair Ratio: ENSI is expensive based on its Price-To-Sales Ratio (1.7x) compared to the estimated Fair Price-To-Sales Ratio (1.3x).

Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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