We’ve recently updated our valuation analysis.

Cyfrowy Polsat Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

CPS 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/Revenue1.7x
Enterprise Value/EBITDA9.2x
PEG Ratio1.3x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for CPS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average31.2x
CDR CD Projekt
64.8x32.7%zł14.1b
WPL Wirtualna Polska Holding
14.2x6.9%zł2.8b
CCA Cogeco Communications
8.1x1.8%CA$3.4b
MCG MultiChoice Group
37.2x43.3%R50.5b
CPS Cyfrowy Polsat
11.3x8.4%zł12.2b

Price-To-Earnings vs Peers: CPS is good value based on its Price-To-Earnings Ratio (11.3x) compared to the peer average (31.2x).


Price to Earnings Ratio vs Industry

How does CPS's PE Ratio compare vs other companies in the European Media Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a20.7%
n/an/an/a

Price-To-Earnings vs Industry: CPS is good value based on its Price-To-Earnings Ratio (11.3x) compared to the European Media industry average (12.3x)


Price to Earnings Ratio vs Fair Ratio

What is CPS'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.

CPS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.3x
Fair PE Ratio12.8x

Price-To-Earnings vs Fair Ratio: CPS is good value based on its Price-To-Earnings Ratio (11.3x) compared to the estimated Fair Price-To-Earnings Ratio (12.8x).


Share Price vs Fair Value

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

Below Fair Value: CPS (PLN19.01) is trading below our estimate of fair value (PLN41.69)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CPS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł19.01
zł23.72
+24.8%
25.2%zł35.00zł18.30n/a6
Nov ’23zł17.90
zł27.52
+53.7%
27.0%zł39.20zł18.30n/a6
Oct ’23zł16.05
zł28.17
+75.5%
24.0%zł39.20zł21.60n/a6
Sep ’23zł18.81
zł29.64
+57.6%
21.9%zł39.20zł22.60n/a5
Aug ’23zł20.44
zł29.64
+45.0%
21.9%zł39.20zł22.60n/a5
Jul ’23zł21.70
zł32.36
+49.1%
17.9%zł39.20zł23.40n/a5
Jun ’23zł22.46
zł34.97
+55.7%
9.3%zł39.20zł28.40n/a6
May ’23zł24.22
zł33.74
+39.3%
12.0%zł39.20zł26.10n/a8
Apr ’23zł28.18
zł34.81
+23.5%
11.5%zł40.00zł28.40n/a8
Mar ’23zł27.34
zł35.41
+29.5%
9.3%zł40.00zł28.70n/a8
Feb ’23zł30.86
zł35.40
+14.7%
9.4%zł40.00zł28.60n/a8
Jan ’23zł34.72
zł35.40
+2.0%
9.4%zł40.00zł28.60n/a8
Dec ’22zł35.14
zł34.77
-1.1%
10.3%zł40.00zł28.60n/a9
Nov ’22zł35.68
zł34.58
-3.1%
11.0%zł40.00zł28.60zł17.909
Oct ’22zł35.20
zł32.97
-6.3%
12.8%zł39.20zł27.90zł16.059
Sep ’22zł35.92
zł31.90
-11.2%
11.9%zł39.00zł27.20zł18.819
Aug ’22zł34.16
zł31.36
-8.2%
9.7%zł36.00zł27.20zł20.449
Jul ’22zł30.40
zł31.24
+2.8%
9.2%zł36.00zł27.20zł21.709
Jun ’22zł30.76
zł30.81
+0.2%
7.1%zł35.00zł27.90zł22.469
May ’22zł29.52
zł30.27
+2.5%
6.6%zł35.00zł27.90zł24.229
Apr ’22zł29.76
zł30.27
+1.7%
6.6%zł35.00zł27.90zł28.189
Mar ’22zł28.80
zł30.16
+4.7%
5.7%zł34.00zł27.90zł27.349
Feb ’22zł30.14
zł30.14
0%
5.9%zł34.00zł27.80zł30.8610
Jan ’22zł30.28
zł29.89
-1.3%
7.2%zł34.00zł25.80zł34.7210
Dec ’21zł26.46
zł28.79
+8.8%
6.9%zł31.00zł25.80zł35.149
Nov ’21zł24.68
zł28.74
+16.5%
7.0%zł31.00zł25.80zł35.689

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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