SMN Power Holding SAOG Valuation

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

SMNP (OMR0.33) is trading below our estimate of [[fair value]] (OMR0.55)

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: SMNP (OMR0.33) is trading below our estimate of fair value (OMR0.55)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for SMNP. This is calculated by dividing SMNP's market cap by their current revenue.
What is SMNP's PS Ratio?
PS Ratio	0.7x
Sales	ر.ع88.30m
Market Cap	ر.ع65.88m

SMNP 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	1x
Enterprise Value/EBITDA	3.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for SMNP 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	0.7x
SUWP Al Suwadi Power Company SAOG	0.6x	n/a	ر.ع56.4m
PHPC Phoenix Power Company SAOG	0.5x	2.1%	ر.ع81.9m
SSPW Sembcorp Salalah Power & Water Company SAOG	1.1x	3.5%	ر.ع90.7m
BATP Al Batinah Power Company SAOG	0.7x	n/a	ر.ع53.3m
SMNP SMN Power Holding SAOG	0.7x	n/a	ر.ع65.9m

Price-To-Sales vs Peers: SMNP is expensive based on its Price-To-Sales Ratio (0.7x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does SMNP's PS Ratio compare vs other companies in the Asian Renewable Energy Industry?

41 Companies	Price / Sales	Estimated Growth	Market Cap

41 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: SMNP is good value based on its Price-To-Sales Ratio (0.7x) compared to the Asian Renewable Energy industry average (2.3x).

Price to Sales Ratio vs Fair Ratio

What is SMNP'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.

SMNP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.7x
Fair PS Ratio	n/a

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