Electra Power (2019) Valuation

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

Below Fair Value: ELCP (₪21.59) is trading above our estimate of fair value (₪13.33)

Significantly Below Fair Value: ELCP is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for ELCP. This is calculated by dividing ELCP's market cap by their current revenue.
What is ELCP's PS Ratio?
PS Ratio	0.5x
Sales	₪733.92m
Market Cap	₪386.29m

ELCP 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	1.5x
Enterprise Value/EBITDA	15.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for ELCP 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	6.1x
TOEN Tomer Energy Royalties (2012)	3.5x	n/a	₪317.2m
ARF Ashdod Refinery	0.06x	n/a	₪752.6m
CDEV Cohen Development Gas & Oil	8.8x	n/a	₪915.7m
ILDR Israel Land Development - Urban Renewal	12.2x	n/a	₪533.7m
ELCP Electra Power (2019)	0.5x	n/a	₪386.3m

Price-To-Sales vs Peers: ELCP is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (6.1x).

Price to Sales Ratio vs Industry

How does ELCP's PS Ratio compare vs other companies in the IL Oil and Gas Industry?

2 Companies	Price / Sales	Estimated Growth	Market Cap
ORL Oil Refineries	0.09x	n/a	US$779.50m
ARF Ashdod Refinery	0.06x	n/a	US$203.07m

No more companies available in this PS range

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: ELCP is good value based on its Price-To-Sales Ratio (0.5x) compared to the Asian Oil and Gas industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is ELCP'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.

ELCP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.5x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate ELCP'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?

Analyst Forecast: Insufficient data to show price forecast.

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Ashdod Refinery

₪752.6m

Engages in the oil refining business in Israel and internationally.

ARF

₪60.24

0.1%

-27.0%

Oil Refineries

₪2.9b

Primarily engages in the production and sale of fuel products, intermediate materials, and aromatic products in Israel and internationally.

ORL

₪0.93

-2.1%

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Equital

₪5.3b

Through its subsidiaries, engages in the real estate, oil and gas, and residential construction businesses in Israel and internationally.

EQTL

₪147.10

2.6%

38.9%