Webstep Valuation

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

Below Fair Value: WSTEP (NOK23.2) is trading below our estimate of fair value (NOK68.4)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for WSTEP. This is calculated by dividing WSTEP's market cap by their current earnings.
What is WSTEP's PE Ratio?
PE Ratio	63.8x
Earnings	NOK 9.84m
Market Cap	NOK 628.04m

WSTEP 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	0.6x
Enterprise Value/EBITDA	18.5x
PEG Ratio	1.5x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for WSTEP 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	19.3x
ITERA Itera	18.2x	34.5%	NOK 743.3m
BOUV Bouvet	20.6x	7.7%	NOK 7.8b
ATEA Atea	20.6x	18.9%	NOK 15.9b
MNTR Mintra Holding	17.6x	-3.5%	NOK 891.0m
WSTEP Webstep	63.8x	43.2%	NOK 628.0m

Price-To-Earnings vs Peers: WSTEP is expensive based on its Price-To-Earnings Ratio (63.8x) compared to the peer average (19.3x).

Price to Earnings Ratio vs Industry

How does WSTEP's PE Ratio compare vs other companies in the European IT Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: WSTEP is expensive based on its Price-To-Earnings Ratio (63.8x) compared to the European IT industry average (17.9x).

Price to Earnings Ratio vs Fair Ratio

What is WSTEP'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.

WSTEP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	63.8x
Fair PE Ratio	23.4x

Price-To-Earnings vs Fair Ratio: WSTEP is expensive based on its Price-To-Earnings Ratio (63.8x) compared to the estimated Fair Price-To-Earnings Ratio (23.4x).

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.