Zaptec Valuation
Is ZAP undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
5/6Valuation Score 5/6
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 ZAP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: ZAP (NOK9.2) is trading below our estimate of fair value (NOK99.52)
Significantly Below Fair Value: ZAP is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for ZAP?
Key metric: As ZAP is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.
| What is ZAP's PS Ratio? | |
|---|---|
| PS Ratio | 0.6x |
| Sales | NOK 1.32b |
| Market Cap | NOK 779.02m |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 0.7x |
| Enterprise Value/EBITDA | 112.2x |
| PEG Ratio | n/a |
Price to Sales Ratio vs Peers
How does ZAP's PS Ratio compare to its peers?
| Company | Forward PS | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 1.1x | ||
OTOVO Otovo | 0.4x | 28.6% | NOK 286.3m |
ETMA Etman International | 0.06x | n/a | NOK 35.1m |
PHLY Philly Shipyard | 0.2x | n/a | NOK 883.9m |
IWS Integrated Wind Solutions | 3.6x | 32.3% | NOK 1.7b |
ZAP Zaptec | 0.6x | 16.0% | NOK 779.0m |
Price-To-Sales vs Peers: ZAP is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (1.1x).
Price to Sales Ratio vs Industry
How does ZAP's PS Ratio compare vs other companies in the European Electrical Industry?
| 23 Companies | Price / Sales | Estimated Growth | Market Cap |
|---|---|---|---|
| 23 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Sales vs Industry: ZAP is good value based on its Price-To-Sales Ratio (0.6x) compared to the European Electrical industry average (1x).
Price to Sales Ratio vs Fair Ratio
What is ZAP'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.
| Fair Ratio | |
|---|---|
| Current PS Ratio | 0.6x |
| Fair PS Ratio | 0.8x |
Price-To-Sales vs Fair Ratio: ZAP is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (0.9x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | NOK 9.20 | NOK 16.75 +82.1% | 37.3% | NOK 23.00 | NOK 10.50 | n/a | 2 |
| Dec ’25 | NOK 9.61 | NOK 16.75 +74.4% | 37.3% | NOK 23.00 | NOK 10.50 | n/a | 2 |
| Nov ’25 | NOK 10.90 | NOK 18.50 +69.7% | 24.3% | NOK 23.00 | NOK 14.00 | n/a | 2 |
| Oct ’25 | NOK 10.91 | NOK 18.50 +69.6% | 24.3% | NOK 23.00 | NOK 14.00 | n/a | 2 |
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.