Blancco Technology Group plc

AIM:BLTG Stock Report

Market Cap: UK£173.0m

Blancco Technology Group Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: BLTG (£2.25) is trading below our estimate of fair value (£2.76)

Significantly Below Fair Value: BLTG 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 BLTG?

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

The above table shows the Price to Earnings ratio for BLTG. This is calculated by dividing BLTG's market cap by their current earnings.
What is BLTG's PE Ratio?
PE Ratio63x
EarningsUK£2.75m
Market CapUK£173.03m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BLTG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average73.8x
CNS Corero Network Security
171.5x52.7%UK£109.1m
GETB GetBusy
56.9x-199.1%UK£30.2m
APTD Aptitude Software Group
38.9x17.4%UK£188.8m
NET Netcall
28.1xn/aUK£164.3m
BLTG Blancco Technology Group
63x36.0%UK£173.0m

Price-To-Earnings vs Peers: BLTG is expensive based on its Price-To-Earnings Ratio (63x) compared to the peer average (42.3x).

Price to Earnings Ratio vs Industry

How does BLTG's PE Ratio compare vs other companies in the GB Software Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
SORT Sorted Group Holdings
3xn/aUS$5.46m
No more companies available in this PE range
BLTG 63.0xIndustry Avg. 35.8xNo. of Companies6PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BLTG is expensive based on its Price-To-Earnings Ratio (63x) compared to the UK Software industry average (33.1x).

Price to Earnings Ratio vs Fair Ratio

What is BLTG'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.

BLTG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio63x
Fair PE Ratio39.2x

Price-To-Earnings vs Fair Ratio: BLTG is expensive based on its Price-To-Earnings Ratio (63x) compared to the estimated Fair Price-To-Earnings Ratio (39.2x).

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 BLTG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Nov ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Oct ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Sep ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Aug ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Jul ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Jun ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
May ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Apr ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Mar ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Feb ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Jan ’25n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Dec ’24n/a
UK£2.70
0%
7.9%UK£3.00UK£2.51n/a3
Nov ’24UK£2.22
UK£2.70
+21.8%
7.9%UK£3.00UK£2.51n/a3
Oct ’24UK£2.23
UK£2.80
+25.7%
9.0%UK£3.10UK£2.51n/a4
Sep ’24UK£2.26
UK£2.80
+24.0%
9.0%UK£3.10UK£2.51n/a4
Aug ’24UK£1.79
UK£2.80
+56.6%
9.0%UK£3.10UK£2.51n/a4
Jul ’24UK£1.57
UK£2.84
+81.6%
8.4%UK£3.10UK£2.51n/a5
Jun ’24UK£1.61
UK£2.84
+76.5%
8.4%UK£3.10UK£2.51n/a5
May ’24UK£1.80
UK£2.84
+57.9%
8.4%UK£3.10UK£2.51n/a5
Apr ’24UK£1.78
UK£2.84
+60.1%
8.4%UK£3.10UK£2.51n/a5
Mar ’24UK£1.83
UK£2.84
+55.7%
8.4%UK£3.10UK£2.51n/a5
Feb ’24UK£1.73
UK£2.99
+73.4%
9.1%UK£3.35UK£2.51n/a5
Jan ’24UK£1.77
UK£2.99
+69.5%
9.1%UK£3.35UK£2.51n/a5
Dec ’23UK£1.73
UK£2.99
+73.4%
9.1%UK£3.35UK£2.51n/a5
Nov ’23UK£1.74
UK£2.99
+72.0%
9.1%UK£3.35UK£2.51UK£2.225

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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