Verimatrix Valuation

Is 0QAU undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

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 0QAU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0QAU (€0.34) is trading below our estimate of fair value (€1.11)

Significantly Below Fair Value: 0QAU is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0QAU?

Key metric: As 0QAU is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0QAU. This is calculated by dividing 0QAU's market cap by their current revenue.
What is 0QAU's PS Ratio?
PS Ratio	0.4x
Sales	US$61.83m
Market Cap	US$27.80m

0QAU 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/Revenue	0.9x
Enterprise Value/EBITDA	-16.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 0QAU's PS Ratio compare to its peers?

The above table shows the PS ratio for 0QAU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	2.1x
CRTA Cirata	4.9x	51.3%	UK£27.9m
KBT K3 Business Technology Group	0.7x	n/a	UK£27.5m
S247 Smarttech247 Group	1.2x	n/a	UK£13.2m
GETB GetBusy	1.4x	7.4%	UK£30.2m
0QAU Verimatrix	0.4x	4.4%	€26.7m

Price-To-Sales vs Peers: 0QAU is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (2.1x).

Price to Sales Ratio vs Industry

How does 0QAU's PS Ratio compare vs other companies in the GB Software Industry?

12 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	2.4x	8.1%
0QAU Verimatrix	0.4x	4.4%	US$27.80m
RM. RM	0.3x	n/a	US$79.55m
SWG Shearwater Group	0.4x	n/a	US$10.90m

12 Companies		Estimated Growth	Market Cap
Industry Avg.	2.4x	14.3%
0QAU Verimatrix	0.4x	30.1%	US$27.80m

No more companies

Price-To-Sales vs Industry: 0QAU is good value based on its Price-To-Sales Ratio (0.4x) compared to the UK Software industry average (2.4x).

Price to Sales Ratio vs Fair Ratio

What is 0QAU'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.

0QAU PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 0QAU'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 0QAU forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	n/a	€0.47 0%	15.9%	€0.55	€0.40	n/a	2
Nov ’25	€0.34	€0.47 +37.8%	15.9%	€0.55	€0.40	n/a	2
Oct ’25	n/a	€0.52 0%	4.7%	€0.55	€0.50	n/a	2
Sep ’25	n/a	€0.52 0%	4.7%	€0.55	€0.50	n/a	2
Aug ’25	€0.38	€0.52 +38.2%	4.7%	€0.55	€0.50	n/a	2
Jul ’25	€0.35	€0.53 +50.4%	5.0%	€0.55	€0.50	n/a	2
Dec ’24	€0.40	€0.63 +57.6%	3.9%	€0.65	€0.60	n/a	2
Nov ’24	€0.41	€0.63 +52.1%	3.9%	€0.65	€0.60	€0.34	2
Jul ’24	n/a	€0.81 0%	1.0%	€0.82	€0.80	€0.35	2
Jun ’24	n/a	€0.79 0%	1.4%	€0.80	€0.78	€0.47	2
May ’24	€0.63	€0.79 +26.2%	1.4%	€0.80	€0.78	€0.47	2
Mar ’24	€0.80	€1.15 +42.3%	31.0%	€1.50	€0.79	€0.58	2
Feb ’24	€0.84	€1.11 +31.6%	28.0%	€1.42	€0.80	n/a	2
Jan ’24	n/a	€1.11 0%	28.0%	€1.42	€0.80	€0.44	2
Dec ’23	n/a	€1.26 0%	20.0%	€1.51	€1.00	€0.40	2
Nov ’23	€0.58	€1.26 +116.4%	20.0%	€1.51	€1.00	€0.41	2

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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