Quartix Technologies plc

AIM:QTX Stock Report

Market Cap: UK£88.3m

Quartix Technologies Valuation

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

Below Fair Value: QTX (£1.83) is trading below our estimate of fair value (£2.98)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for QTX. This is calculated by dividing QTX's market cap by their current revenue.
What is QTX's PS Ratio?
PS Ratio2.8x
SalesUK£31.36m
Market CapUK£88.32m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for QTX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3x
AOM ActiveOps
2.9x8.0%UK£80.3m
SPE Sopheon
3.5x7.7%UK£106.6m
ELCO Eleco
3.7x14.3%UK£113.6m
OMG Oxford Metrics
1.8x1.7%UK£82.4m
QTX Quartix Technologies
2.8x7.1%UK£88.3m

Price-To-Sales vs Peers: QTX is good value based on its Price-To-Sales Ratio (2.8x) compared to the peer average (3x).

Price to Sales Ratio vs Industry

How does QTX's PS Ratio compare vs other companies in the GB Software Industry?

11 CompaniesPrice / SalesEstimated GrowthMarket Cap
RM. RM
0.3xn/aUS$83.36m
SWG Shearwater Group
0.4xn/aUS$10.24m
MBO MobilityOne
0.01xn/aUS$3.02m
CCS Crossword Cybersecurity
0.5xn/aUS$2.46m
QTX 2.8xIndustry Avg. 2.6xNo. of Companies13PS0246810+
11 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: QTX is expensive based on its Price-To-Sales Ratio (2.8x) compared to the UK Software industry average (2.6x).

Price to Sales Ratio vs Fair Ratio

What is QTX'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.

QTX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.8x
Fair PS Ratio1.6x

Price-To-Sales vs Fair Ratio: QTX is expensive based on its Price-To-Sales Ratio (2.8x) compared to the estimated Fair Price-To-Sales Ratio (1.6x).

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 QTX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£1.83
UK£3.10
+69.9%
9.7%UK£3.40UK£2.80n/a2
Nov ’25UK£1.67
UK£3.10
+86.2%
9.7%UK£3.40UK£2.80n/a2
Oct ’25UK£1.54
UK£3.10
+101.3%
9.7%UK£3.40UK£2.80n/a2
Nov ’23UK£3.15
UK£4.88
+54.8%
7.7%UK£5.25UK£4.50UK£1.382

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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