Strix Group Plc

AIM:KETL Stock Report

Market Cap: UK£140.7m

Strix Group Valuation

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

Below Fair Value: KETL (£0.61) is trading below our estimate of fair value (£1.22)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for KETL. This is calculated by dividing KETL's market cap by their current earnings.
What is KETL's PE Ratio?
PE Ratio19.6x
EarningsUK£7.17m
Market CapUK£140.67m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for KETL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average34.7x
SOLI Solid State
8.7x-94.5%UK£77.0m
GHH Gooch & Housego
94x72.8%UK£120.9m
SPSY Spectra Systems
23.1x2.6%UK£120.6m
MIDW Midwich Group
13.1x-5.6%UK£293.9m
KETL Strix Group
19.6x43.2%UK£140.7m

Price-To-Earnings vs Peers: KETL is good value based on its Price-To-Earnings Ratio (19.6x) compared to the peer average (34.7x).

Price to Earnings Ratio vs Industry

How does KETL's PE Ratio compare vs other companies in the European Electronic Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KETL 19.6xIndustry Avg. 17.7xNo. of Companies17PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KETL is expensive based on its Price-To-Earnings Ratio (19.6x) compared to the European Electronic industry average (18x).

Price to Earnings Ratio vs Fair Ratio

What is KETL'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.

KETL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.6x
Fair PE Ratio37.5x

Price-To-Earnings vs Fair Ratio: KETL is good value based on its Price-To-Earnings Ratio (19.6x) compared to the estimated Fair Price-To-Earnings Ratio (37.5x).

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 KETL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£0.61
UK£1.30
+112.4%
11.5%UK£1.45UK£1.15n/a2
Nov ’25UK£0.62
UK£1.30
+109.7%
11.5%UK£1.45UK£1.15n/a2
Oct ’25UK£0.68
UK£1.20
+77.8%
15.6%UK£1.45UK£1.00n/a3
Sep ’25UK£0.84
UK£1.27
+51.6%
22.5%UK£1.67UK£1.00n/a3
Aug ’25UK£0.83
UK£1.27
+52.7%
22.5%UK£1.67UK£1.00n/a3
Jul ’25UK£0.83
UK£1.27
+53.4%
22.5%UK£1.67UK£1.00n/a3
Jun ’25UK£0.79
UK£1.16
+46.9%
31.1%UK£1.73UK£0.75n/a4
May ’25UK£0.77
UK£1.16
+51.3%
31.1%UK£1.73UK£0.75n/a4
Apr ’25UK£0.69
UK£1.16
+68.7%
31.1%UK£1.73UK£0.75n/a4
Mar ’25UK£0.68
UK£1.12
+65.3%
21.7%UK£1.49UK£0.83n/a4
Feb ’25UK£0.72
UK£1.09
+52.8%
20.3%UK£1.49UK£0.83n/a5
Jan ’25UK£0.75
UK£1.18
+58.2%
26.1%UK£1.67UK£0.83n/a5
Dec ’24UK£0.71
UK£1.18
+65.7%
26.1%UK£1.67UK£0.83n/a5
Nov ’24UK£0.60
UK£1.18
+98.0%
26.1%UK£1.67UK£0.83UK£0.625
Oct ’24UK£0.53
UK£1.28
+142.4%
23.4%UK£1.80UK£1.00UK£0.685
Sep ’24UK£0.91
UK£1.40
+53.4%
30.1%UK£2.16UK£1.00UK£0.845
Aug ’24UK£0.98
UK£1.40
+42.8%
30.1%UK£2.16UK£1.00UK£0.835
Jul ’24UK£1.03
UK£1.32
+28.5%
33.6%UK£2.16UK£0.75UK£0.836
Jun ’24UK£1.00
UK£1.32
+32.2%
33.6%UK£2.16UK£0.75UK£0.796
May ’24UK£1.10
UK£1.29
+17.6%
35.2%UK£2.16UK£0.75UK£0.776
Apr ’24UK£1.00
UK£1.29
+29.6%
35.2%UK£2.16UK£0.75UK£0.696
Mar ’24UK£1.01
UK£1.45
+43.7%
44.7%UK£2.45UK£0.75UK£0.687
Feb ’24UK£0.97
UK£1.45
+48.6%
44.7%UK£2.45UK£0.75UK£0.727
Jan ’24UK£0.82
UK£1.66
+102.0%
28.4%UK£2.45UK£1.20UK£0.755
Dec ’23UK£0.80
UK£1.95
+145.5%
31.6%UK£2.55UK£1.20UK£0.715
Nov ’23UK£1.07
UK£2.31
+115.1%
34.2%UK£3.70UK£1.20UK£0.606

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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