Bytes Technology Group plc

BATS-CHIXE:BYITL Stock Report

Market Cap: UK£1.1b

Bytes Technology Group Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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

Discounted Cash Flow
Simply Wall St
UK£6.33
Fair Value
27.2% undervalued intrinsic discount
10
Number of Analysts

Below Fair Value: BYITL (£4.6) is trading below our estimate of fair value (£6.33)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BYITL. This is calculated by dividing BYITL's market cap by their current earnings.
What is BYITL's PE Ratio?
PE Ratio21.4x
EarningsUK£51.91m
Market CapUK£1.09b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BYITL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average55.4x
GBG GB Group
106.4x38.9%UK£854.7m
ALFA Alfa Financial Software Holdings
29x7.1%UK£607.9m
CER Cerillion
30.7x8.5%UK£472.7m
IDOX IDOX
55.5x24.1%UK£286.4m
BYITL Bytes Technology Group
21.4x7.2%UK£1.1b

Price-To-Earnings vs Peers: BYITL is good value based on its Price-To-Earnings Ratio (21.4x) compared to the peer average (55.4x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
SORT Sorted Group Holdings
2.2xn/aUS$3.90m
No more companies available in this PE range
No. of Companies5PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BYITL is good value based on its Price-To-Earnings Ratio (21.4x) compared to the UK Software industry average (30.8x).

Price to Earnings Ratio vs Fair Ratio

What is BYITL'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.

BYITL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.4x
Fair PE Ratio35.9x

Price-To-Earnings vs Fair Ratio: BYITL is good value based on its Price-To-Earnings Ratio (21.4x) compared to the estimated Fair Price-To-Earnings Ratio (35.9x).

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 BYITL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£4.60
UK£6.00
+30.4%
8.0%UK£6.60UK£5.00n/a10
Jan ’26UK£4.21
UK£6.09
+44.6%
9.2%UK£6.75UK£5.00n/a9
Dec ’25UK£4.55
UK£6.08
+33.6%
8.8%UK£6.75UK£5.00n/a10
Nov ’25UK£4.59
UK£6.08
+32.3%
8.8%UK£6.75UK£5.00n/a10
Oct ’25UK£5.10
UK£6.11
+19.9%
9.9%UK£6.80UK£5.00n/a10
Sep ’25UK£4.77
UK£6.29
+31.9%
7.3%UK£6.80UK£5.20n/a9
Aug ’25UK£4.95
UK£6.35
+28.4%
9.0%UK£7.30UK£5.20n/a8
Jul ’25UK£5.47
UK£6.42
+17.4%
7.6%UK£7.30UK£5.60n/a8
Jun ’25UK£5.56
UK£6.43
+15.7%
7.1%UK£7.30UK£5.60n/a9
May ’25UK£4.84
UK£6.33
+30.7%
7.4%UK£7.20UK£5.60n/a8
Apr ’25UK£5.14
UK£6.49
+26.4%
10.5%UK£8.00UK£5.60n/a8
Mar ’25UK£5.68
UK£6.63
+16.8%
9.0%UK£8.00UK£5.75n/a8
Feb ’25UK£6.13
UK£6.60
+7.6%
10.9%UK£8.00UK£5.75n/a6
Jan ’25UK£6.11
UK£6.15
+0.8%
5.9%UK£6.70UK£5.60UK£4.217
Dec ’24UK£5.44
UK£6.12
+12.6%
5.7%UK£6.70UK£5.60UK£4.558
Nov ’24UK£5.03
UK£6.04
+20.1%
4.8%UK£6.40UK£5.60UK£4.597
Oct ’24UK£4.99
UK£6.01
+20.4%
5.0%UK£6.40UK£5.60UK£5.107
Sep ’24UK£4.81
UK£5.92
+23.1%
6.4%UK£6.40UK£5.30UK£4.776
Aug ’24UK£5.11
UK£5.92
+16.0%
6.4%UK£6.40UK£5.30UK£4.956
Jul ’24UK£5.32
UK£5.80
+9.0%
8.9%UK£6.40UK£5.00UK£5.476
Jun ’24UK£5.13
UK£5.46
+6.4%
10.0%UK£6.40UK£4.80UK£5.567
May ’24UK£4.16
UK£5.34
+28.4%
10.8%UK£6.40UK£4.80UK£4.845
Apr ’24UK£3.89
UK£5.43
+39.5%
10.4%UK£6.40UK£4.80UK£5.146
Mar ’24UK£4.02
UK£5.33
+32.8%
13.2%UK£6.40UK£4.20UK£5.686
Feb ’24UK£3.90
UK£5.33
+36.6%
13.2%UK£6.40UK£4.20UK£6.136
Jan ’24UK£3.85
UK£5.30
+37.8%
14.4%UK£6.40UK£4.00UK£6.116
Analyst Price Target
Consensus Narrative from 10 Analysts
UK£6.00
Fair Value
23.3% undervalued intrinsic discount
10
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/30 08:53
End of Day Share Price 2025/01/30 00:00
Earnings2024/08/31
Annual Earnings2024/02/29

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Bytes Technology Group plc is covered by 17 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
James ZarembaBarclays
Benjamin MayBerenberg
Alexander James ShortBerenberg