We’ve recently updated our valuation analysis.

Tracsis Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

TRCS 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/Revenue3.9x
Enterprise Value/EBITDA37x
PEG Ratio7.1x

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TRCS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average3.2x
IDOX IDOX
4.4x6.3%UK£292.4m
ACSO accesso Technology Group
3x8.7%UK£334.5m
DOTD dotdigital Group
4.2x8.8%UK£265.1m
FDP FD Technologies
1.3x8.5%UK£373.1m
TRCS Tracsis
4.1x6.6%UK£282.0m

Price-To-Sales vs Peers: TRCS is expensive based on its Price-To-Sales Ratio (4.1x) compared to the peer average (3.2x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a20.2%
n/an/an/a

Price-To-Sales vs Industry: TRCS is expensive based on its Price-To-Sales Ratio (4.1x) compared to the UK Software industry average (3.1x)


Price to Sales Ratio vs Fair Ratio

What is TRCS'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.

TRCS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.1x
Fair PS Ratio2.4x

Price-To-Sales vs Fair Ratio: TRCS is expensive based on its Price-To-Sales Ratio (4.1x) compared to the estimated Fair Price-To-Sales Ratio (2.4x).


Share Price vs Fair Value

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

Below Fair Value: TRCS (£9.45) is trading above our estimate of fair value (£8.88)

Significantly Below Fair Value: TRCS is trading above our estimate of fair value.


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 TRCS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£9.45
UK£13.68
+44.8%
3.3%UK£14.30UK£13.25n/a3
Jan ’24UK£9.70
UK£13.68
+41.1%
3.3%UK£14.30UK£13.25n/a3
Dec ’23UK£9.55
UK£13.68
+43.3%
3.3%UK£14.30UK£13.25n/a3
Nov ’23UK£9.20
UK£13.68
+48.7%
3.3%UK£14.30UK£13.25n/a3
Oct ’23UK£9.40
UK£13.68
+45.6%
3.3%UK£14.30UK£13.25n/a3
Sep ’23UK£9.95
UK£13.68
+37.5%
3.3%UK£14.30UK£13.25n/a3
Aug ’23UK£9.10
UK£13.68
+50.4%
3.3%UK£14.30UK£13.25n/a3
Jul ’23UK£9.35
UK£13.68
+46.3%
3.3%UK£14.30UK£13.25n/a3
Jun ’23UK£9.85
UK£13.68
+38.9%
3.3%UK£14.30UK£13.25n/a3
May ’23UK£10.53
UK£13.68
+30.0%
3.3%UK£14.30UK£13.25n/a3
Apr ’23UK£9.90
UK£13.78
+39.1%
3.8%UK£14.30UK£13.25n/a2
Mar ’23UK£8.90
UK£13.25
+48.9%
0%UK£13.25UK£13.25n/a1
Feb ’23UK£9.95
UK£13.25
+33.2%
0%UK£13.25UK£13.25n/a1
Jan ’23UK£9.85
UK£13.25
+34.5%
0%UK£13.25UK£13.25UK£9.701
Dec ’22UK£9.96
UK£13.25
+33.0%
0%UK£13.25UK£13.25UK£9.551
Nov ’22UK£9.20
UK£10.20
+10.9%
0%UK£10.20UK£10.20UK£9.201
Oct ’22UK£9.55
UK£10.20
+6.8%
0%UK£10.20UK£10.20UK£9.401
Sep ’22UK£10.80
UK£10.20
-5.6%
0%UK£10.20UK£10.20UK£9.951
Aug ’22UK£9.80
UK£10.20
+4.1%
0%UK£10.20UK£10.20UK£9.101
Jul ’22UK£9.35
UK£10.20
+9.1%
0%UK£10.20UK£10.20UK£9.351
Jun ’22UK£8.61
UK£10.20
+18.5%
0%UK£10.20UK£10.20UK£9.851
May ’22UK£8.50
UK£9.00
+5.9%
0%UK£9.00UK£9.00UK£10.531
Apr ’22UK£6.60
UK£9.00
+36.4%
0%UK£9.00UK£9.00UK£9.901
Mar ’22UK£6.54
UK£9.00
+37.6%
0%UK£9.00UK£9.00UK£8.901
Feb ’22UK£6.50
UK£9.00
+38.5%
0%UK£9.00UK£9.00UK£9.951
Jan ’22UK£6.40
UK£9.00
+40.6%
0%UK£9.00UK£9.00UK£9.851

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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