Meriaura Group Oyj Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: MERIS (SEK0.44) is trading below our estimate of fair value (SEK1.02)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for MERIS. This is calculated by dividing MERIS's market cap by their current revenue.
What is MERIS's PS Ratio?
PS Ratio	0.4x
Sales	€77.81m
Market Cap	€33.36m

MERIS 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	0.6x
Enterprise Value/EBITDA	16.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for MERIS 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	0.8x
SOLT SolTech Energy Sweden	0.1x	n/a	SEK 285.5m
ACUVI Acuvi	2.2x	n/a	SEK 459.9m
FERRO Ferroamp	0.6x	33.2%	SEK 136.5m
INISS B Inission	0.3x	3.6%	SEK 713.5m
MERIS Meriaura Group Oyj	0.4x	7.9%	SEK 384.9m

Price-To-Sales vs Peers: MERIS is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does MERIS's PS Ratio compare vs other companies in the SE Electrical Industry?

5 Companies	Price / Sales	Estimated Growth	Market Cap
SOLT SolTech Energy Sweden	0.1x	n/a	US$26.17m
NIUTEC Niutech Group	0.2x	2.8%	US$6.21m
TOPR TopRight Nordic	0.2x	n/a	US$1.42m
GOGRID SDB Smart Wires Technology	0.02x	90.3%	US$717.25k

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: MERIS is good value based on its Price-To-Sales Ratio (0.4x) compared to the Swedish Electrical industry average (1.4x).

Price to Sales Ratio vs Fair Ratio

What is MERIS'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.

MERIS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	0.5x

Price-To-Sales vs Fair Ratio: MERIS is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

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

AAC Clyde Space

SEK 271.3m

Manufactures and sells miniaturized and advanced subsystems and components for cube and small satellites in Sweden, the United Kingdom, rest of Europe, the United States, Asia, and internationally.

AAC

SEK 46.05

5.0%

46.2%

Inission

SEK 713.5m

Engages in the supply of tailored manufacturing services and products in the field of industrial electronics and mechanics in Sweden, Finland, Estonia, Norway, the United States, and internationally.

INISS B

SEK 32.20

-5.0%

-38.7%

Vestum

SEK 3.8b

Engages in the infrastructure, water, and service businesses in Sweden and internationally.

VESTUM

SEK 10.18

3.7%

119.6%