Adventure Valuation

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

ADV (€18.4) is trading above our estimate of [[fair value]] (€6.62)

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: ADV (€18.4) is trading above our estimate of fair value (€6.62)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ADV. This is calculated by dividing ADV's market cap by their current earnings.
What is ADV's PE Ratio?
PE Ratio	127.7x
Earnings	€1.01m
Market Cap	€128.10m

ADV 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	11.9x
Enterprise Value/EBITDA	80.9x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ADV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	18.8x
CED Caltagirone Editore	9.4x	n/a	€148.4m
IEG Italian Exhibition Group	7.9x	2.9%	€190.0m
SSL S.S. Lazio	1.7x	n/a	€64.6m
BF BolognaFiere	56.1x	n/a	€243.3m
ADV Adventure	127.7x	n/a	€128.1m

Price-To-Earnings vs Peers: ADV is expensive based on its Price-To-Earnings Ratio (127.7x) compared to the peer average (18.8x).

Price to Earnings Ratio vs Industry

How does ADV's PE Ratio compare vs other companies in the European Interactive Media and Services Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ADV is expensive based on its Price-To-Earnings Ratio (127.7x) compared to the European Interactive Media and Services industry average (15.7x).

Price to Earnings Ratio vs Fair Ratio

What is ADV'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.

ADV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	127.7x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ADV's Price-To-Earnings 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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