Pexip Holding ASA

BATS-CHIXE:PEXIPO Stock Report

Market Cap: NOK 4.5b

Pexip Holding Valuation

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

Below Fair Value: PEXIPO (NOK42.25) is trading below our estimate of fair value (NOK117.85)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for PEXIPO. This is calculated by dividing PEXIPO's market cap by their current revenue.
What is PEXIPO's PS Ratio?
PS Ratio4.2x
SalesNOK 1.07b
Market CapNOK 4.46b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for PEXIPO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.9x
DOTD dotdigital Group
3.6x8.0%UK£283.5m
IDOX IDOX
3.6x7.5%UK£287.3m
ACSO accesso Technology Group
1.8x6.0%UK£216.2m
APTD Aptitude Software Group
2.6x4.6%UK£184.8m
PEXIPO Pexip Holding
4.2x11.8%NOK 4.5b

Price-To-Sales vs Peers: PEXIPO is expensive based on its Price-To-Sales Ratio (4.2x) compared to the peer average (2.9x).

Price to Sales Ratio vs Industry

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

11 CompaniesPrice / SalesEstimated GrowthMarket Cap
RM. RM
0.4xn/aUS$84.43m
SWG Shearwater Group
0.4xn/aUS$10.57m
MBO MobilityOne
0.01xn/aUS$3.03m
CCS Crossword Cybersecurity
0.5xn/aUS$2.46m
No. of Companies12PS0246810+
11 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PEXIPO is expensive based on its Price-To-Sales Ratio (4.2x) compared to the UK Software industry average (2.4x).

Price to Sales Ratio vs Fair Ratio

What is PEXIPO'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.

PEXIPO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.2x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate PEXIPO's Price-To-Sales Fair Ratio for valuation analysis.

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 PEXIPO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 42.25
NOK 49.50
+17.2%
1.0%NOK 50.00NOK 49.00n/a2
Nov ’25n/a
NOK 44.50
0%
12.4%NOK 50.00NOK 39.00n/a2
Oct ’25n/a
NOK 44.50
0%
12.4%NOK 50.00NOK 39.00n/a2
Sep ’25n/a
NOK 35.50
0%
12.7%NOK 40.00NOK 31.00n/a2
Aug ’25n/a
NOK 33.00
0%
6.1%NOK 35.00NOK 31.00n/a2
Jul ’25n/a
NOK 33.00
0%
6.1%NOK 35.00NOK 31.00n/a2
Mar ’25n/a
NOK 30.00
0%
16.7%NOK 35.00NOK 25.00n/a2
Feb ’25n/a
NOK 30.00
0%
16.7%NOK 35.00NOK 25.00n/a2
Jan ’25n/a
NOK 26.50
0%
13.2%NOK 30.00NOK 23.00n/a2
Dec ’24n/a
NOK 26.50
0%
13.2%NOK 30.00NOK 23.00n/a2
Nov ’24n/a
NOK 25.00
0%
20.0%NOK 30.00NOK 20.00n/a2
Oct ’24n/a
NOK 25.00
0%
20.0%NOK 30.00NOK 20.00n/a2
Sep ’24n/a
NOK 25.00
0%
20.0%NOK 30.00NOK 20.00n/a2
Aug ’24n/a
NOK 22.00
0%
36.4%NOK 30.00NOK 14.00n/a2
Jul ’24n/a
NOK 21.00
0%
42.9%NOK 30.00NOK 12.00n/a2
Jun ’24n/a
NOK 21.00
0%
42.9%NOK 30.00NOK 12.00n/a2
Mar ’24n/a
NOK 13.00
0%
15.4%NOK 15.00NOK 11.00n/a2
Feb ’24n/a
NOK 12.50
0%
20.0%NOK 15.00NOK 10.00n/a2
Jan ’24n/a
NOK 12.50
0%
20.0%NOK 15.00NOK 10.00n/a2
Dec ’23n/a
NOK 12.50
0%
20.0%NOK 15.00NOK 10.00n/a2
Nov ’23n/a
NOK 12.50
0%
20.0%NOK 15.00NOK 10.00n/a2

Analyst Forecast: Target price is less than 20% higher than the current share price.

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