Coeli Private Equity Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: CPE I (SEK90.5) is trading below our estimate of fair value (SEK443.35)

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

Key Valuation Metric

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

Key metric: As CPE I is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for CPE I. This is calculated by dividing CPE I's market cap by their current book value.
What is CPE I's PB Ratio?
PB Ratio	0.6x
Book	SEK 1.27b
Market Cap	SEK 782.85m

CPE I 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	-4.4x
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does CPE I's PB Ratio compare to its peers?

The above table shows the PB ratio for CPE I 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	1.3x
FLAT B Flat Capital	1.9x	n/a	SEK 760.5m
NAXS NAXS	0.7x	n/a	SEK 573.8m
CASE Case Group	1.9x	n/a	SEK 543.9m
ATIN Athanase Innovation	0.8x	n/a	SEK 476.3m
CPE I Coeli Private Equity	0.6x	n/a	SEK 782.9m

Price-To-Book vs Peers: CPE I is good value based on its Price-To-Book Ratio (0.6x) compared to the peer average (1.3x).

Price to Book Ratio vs Industry

How does CPE I's PB Ratio compare vs other companies in the SE Capital Markets Industry?

3 Companies	Price / Book	Estimated Growth	Market Cap
NAVIGO STAM Navigo Invest	0.1x	139.0%	US$30.60m
CAPS Northern CapSek Ventures	0.2x	n/a	US$725.75k
SMART SDB Smart Valor	0.08x	n/a	US$508.36k

No more companies available in this PB range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: CPE I is good value based on its Price-To-Book Ratio (0.6x) compared to the Swedish Capital Markets industry average (1x).

Price to Book Ratio vs Fair Ratio

What is CPE I'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.

CPE I PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	0.6x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate CPE I'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.

Discover undervalued companies

Ratos

SEK 10.6b

A private equity firm specializing in buyouts, turnarounds, add on acquisitions, and middle market transactions.

RATO B

SEK 31.84

1.2%

-0.4%

AB Industrivärden

SEK 154.7b

AB Industrivärden is a publicly owned investment manager.

INDU C

SEK 357.70

0.9%

13.3%

Transferator

SEK 205.6m

A public private equity and venture capital firm.

TRAN B

SEK 2.12

-0.9%

-19.1%