Photon Energy Valuation

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

Below Fair Value: Insufficient data to calculate PEN's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate PEN's fair value for valuation analysis.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for PEN. This is calculated by dividing PEN's market cap by their current revenue.
What is PEN's PS Ratio?
PS Ratio	1x
Sales	€71.71m
Market Cap	€69.52m

PEN 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	3.4x
Enterprise Value/EBITDA	111.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for PEN 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	1.5x
ELT Elektrotim	0.8x	n/a	zł385.8m
ELQ ELQ	3.6x	34.1%	zł309.0m
RSP Remor Solar Polska	0.9x	n/a	zł89.6m
APE APS Energia	0.6x	n/a	zł70.5m
PEN Photon Energy	1x	8.5%	zł300.2m

Price-To-Sales vs Peers: PEN is good value based on its Price-To-Sales Ratio (1x) compared to the peer average (1.5x).

Price to Sales Ratio vs Industry

How does PEN's PS Ratio compare vs other companies in the European Electrical Industry?

18 Companies	Price / Sales	Estimated Growth	Market Cap

18 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: PEN is good value based on its Price-To-Sales Ratio (1x) compared to the European Electrical industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is PEN'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.

PEN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1x
Fair PS Ratio	1.3x

Price-To-Sales vs Fair Ratio: PEN is good value based on its Price-To-Sales Ratio (1x) compared to the estimated Fair Price-To-Sales Ratio (1.3x).

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.

Discover undervalued companies

INCANA Spólka Akcyjna

zł5.9m

INCANA Spólka Akcyjna produces and sells wall decoration products in Poland and internationally.

ICA

zł0.54

-57.1%

Drozapol-Profil

zł22.7m

Trades in metallurgical products in Poland.

DPL

zł3.71

2.8%

0.5%

Relpol

zł51.9m

Manufactures and sells relays worldwide.

RLP

zł5.40

-3.2%

-30.8%