H2 Core Valuation

Q: What is the Fair Price of 0ND9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

0ND9 (€1.5) is trading below our estimate of [[fair value]] (€4.64)

Is 0ND9 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-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0ND9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0ND9 (€1.5) is trading below our estimate of fair value (€4.64)

Significantly Below Fair Value: 0ND9 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0ND9?

Key metric: As 0ND9 is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 0ND9. This is calculated by dividing 0ND9's market cap by their current book value.
What is 0ND9's PB Ratio?
PB Ratio	27.8x
Book	€552.16k
Market Cap	€15.37m

0ND9 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	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does 0ND9's PB Ratio compare to its peers?

The above table shows the PB ratio for 0ND9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	1.8x
ICGC Irish Continental Group	3.2x	n/a	UK£748.8m
CKN Clarkson	2.6x	2.5%	UK£1.2b
SUH Sutton Harbour Group	0.2x	n/a	UK£11.8m
ROL Rotala	1x	n/a	UK£20.5m
0ND9 H2 Core	27.8x	n/a	€15.4m

Price-To-Book vs Peers: 0ND9 is expensive based on its Price-To-Book Ratio (27.8x) compared to the peer average (1.8x).

Price to Book Ratio vs Industry

How does 0ND9's PB Ratio compare vs other companies in the European Shipping Industry?

1 Company	Price / Book	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: 0ND9 is expensive based on its Price-To-Book Ratio (27.8x) compared to the European Shipping industry average (1x).

Price to Book Ratio vs Fair Ratio

What is 0ND9's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0ND9 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	27.8x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 0ND9's Price-To-Book 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?

Analyst Forecast: Insufficient data to show price forecast.