Sirnaomics Valuation

Q: What is the Fair Price of 2257 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

2257 (HK$2.6) is trading below our estimate of [[fair value]] (HK$31.23)

Is 2257 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 2257 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2257 (HK$2.6) is trading below our estimate of fair value (HK$31.23)

Significantly Below Fair Value: 2257 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2257?

Key metric: As 2257 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 2257. This is calculated by dividing 2257's market cap by their current revenue.
What is 2257's PS Ratio?
PS Ratio	26.9x
Sales	US$1.08m
Market Cap	US$29.00m

2257 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	9.1x
Enterprise Value/EBITDA	-0.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 2257's PS Ratio compare to its peers?

The above table shows the PS ratio for 2257 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	16.5x
690 Uni-Bio Science Group	0.7x	n/a	HK$376.2m
2126 JW (Cayman) Therapeutics	2.9x	44.8%	HK$534.0m
6998 Genor Biopharma Holdings	49.5x	n/a	HK$769.1m
6628 Transcenta Holding	13x	67.8%	HK$311.7m
2257 Sirnaomics	26.9x	63.5%	HK$225.7m

Price-To-Sales vs Peers: 2257 is expensive based on its Price-To-Sales Ratio (26.9x) compared to the peer average (16.5x).

Price to Sales Ratio vs Industry

How does 2257's PS Ratio compare vs other companies in the HK Biotechs Industry?

14 Companies	Price / Sales	Estimated Growth	Market Cap
6826 Shanghai Haohai Biological Technology	2.1x	11.8%	US$1.79b
1530 3SBio	1.4x	9.3%	US$1.67b
2696 Shanghai Henlius Biotech	1.8x	10.1%	US$1.41b
775 CK Life Sciences Int'l. (Holdings)	0.8x	n/a	US$549.43m

14 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 2257 is expensive based on its Price-To-Sales Ratio (26.9x) compared to the Hong Kong Biotechs industry average (11.2x).

Price to Sales Ratio vs Fair Ratio

What is 2257'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.

2257 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	26.9x
Fair PS Ratio	11.9x

Price-To-Sales vs Fair Ratio: 2257 is expensive based on its Price-To-Sales Ratio (26.9x) compared to the estimated Fair Price-To-Sales Ratio (11.9x).

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.

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