Honey Payment Group Valuation

Is HPG 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-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: HPG (PLN2.38) is trading above our estimate of fair value (PLN0.11)

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

Key Valuation Metric

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

Key metric: As HPG barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for HPG. This is calculated by dividing HPG's market cap by their current book value.
What is HPG's PB Ratio?
PB Ratio	0.1x
Book	zł301.57m
Market Cap	zł40.57m

HPG 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	70.9x
Enterprise Value/EBITDA	119.8x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does HPG's PB Ratio compare to its peers?

The above table shows the PB ratio for HPG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	1.2x
INT Internity	2.2x	n/a	zł53.5m
PRS Prymus	1.2x	n/a	zł53.1m
HOR Hortico	1.2x	n/a	zł81.4m
BOW Bowim	0.2x	n/a	zł72.6m
HPG Honey Payment Group	0.1x	n/a	zł40.6m

Price-To-Book vs Peers: HPG is good value based on its Price-To-Book Ratio (0.1x) compared to the peer average (1.2x).

Price to Book Ratio vs Industry

How does HPG's PB Ratio compare vs other companies in the European Trade Distributors Industry?

4 Companies	Price / Book	Estimated Growth	Market Cap
Industry Avg.	1.2x	10.8%
HPG Honey Payment Group	0.1x	n/a	US$10.31m

4 Companies		Estimated Growth	Market Cap
Industry Avg.	1.2x	10.8%
HPG Honey Payment Group	0.1x	n/a	US$10.31m

No more companies

Price-To-Book vs Industry: HPG is good value based on its Price-To-Book Ratio (0.1x) compared to the European Trade Distributors industry average (1.2x).

Price to Book Ratio vs Fair Ratio

What is HPG's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HPG PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	0.1x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate HPG's Price-To-Book 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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