CTE Group Valuation

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

CTE (PLN0.05) is trading above our estimate of [[fair value]] (PLN0.04)

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: CTE (PLN0.05) is trading above our estimate of fair value (PLN0.04)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for CTE. This is calculated by dividing CTE's market cap by their current revenue.
What is CTE's PS Ratio?
PS Ratio	5.5x
Sales	zł2.36m
Market Cap	zł12.92m

CTE 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	5.3x
Enterprise Value/EBITDA	55.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for CTE 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	3.6x
ABK Abak	0.7x	n/a	zł10.2m
MMC MM Conferences	0.8x	n/a	zł10.7m
HRC Grupa HRC Spolka Akcyjna	12.4x	n/a	zł7.4m
GIG Gi Group Poland	0.4x	n/a	zł230.4m
CTE CTE Group	5.5x	n/a	zł12.9m

Price-To-Sales vs Peers: CTE is expensive based on its Price-To-Sales Ratio (5.5x) compared to the peer average (3.6x).

Price to Sales Ratio vs Industry

How does CTE's PS Ratio compare vs other companies in the PL Professional Services Industry?

5 Companies	Price / Sales	Estimated Growth	Market Cap
GIG Gi Group Poland	0.4x	n/a	US$55.90m
ARR Arteria	0.1x	n/a	US$10.16m
ETX Euro-Tax.pl	0.5x	n/a	US$4.73m
ASM ASM Group	0.05x	n/a	US$3.45m

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: CTE is expensive based on its Price-To-Sales Ratio (5.5x) compared to the European Professional Services industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is CTE'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.

CTE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	5.5x
Fair PS Ratio	n/a

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