CoinShares International Limited

OM:CS Stock Report

Market Cap: SEK 5.8b

CoinShares International Valuation

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

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

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for CS. This is calculated by dividing CS's market cap by their current revenue.
What is CS's PS Ratio?
PS Ratio5.6x
SalesUK£74.27m
Market CapUK£415.90m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for CS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.8x
CAT B Catella
1.7x11.9%SEK 2.5b
TRAC B AB Traction
6.3xn/aSEK 4.2b
RATO B Ratos
0.3x4.5%SEK 10.7b
VEFAB VEF
3xn/aSEK 2.2b
CS CoinShares International
5.6x12.0%SEK 5.8b

Price-To-Sales vs Peers: CS is expensive based on its Price-To-Sales Ratio (5.6x) compared to the peer average (2.8x).

Price to Sales Ratio vs Industry

How does CS's PS Ratio compare vs other companies in the SE Capital Markets Industry?

8 CompaniesPrice / SalesEstimated GrowthMarket Cap
RATO B Ratos
0.3x4.5%US$964.65m
NAVIGO STAM Navigo Invest
0.4x12.5%US$33.28m
SEAF Seafire
0.3xn/aUS$21.80m
STWK Stockwik Förvaltning
0.1x5.1%US$9.99m
CS 5.6xIndustry Avg. 2.9xNo. of Companies8PS03.26.49.612.816+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CS is expensive based on its Price-To-Sales Ratio (5.6x) compared to the Swedish Capital Markets industry average (2.9x).

Price to Sales Ratio vs Fair Ratio

What is CS'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.

CS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.6x
Fair PS Ratio2.3x

Price-To-Sales vs Fair Ratio: CS is expensive based on its Price-To-Sales Ratio (5.6x) compared to the estimated Fair Price-To-Sales Ratio (2.3x).

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 CS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 87.90
SEK 90.98
+3.5%
11.3%SEK 104.88SEK 80.19n/a3
Nov ’25SEK 50.30
SEK 91.18
+81.3%
10.5%SEK 104.72SEK 83.36n/a3
Oct ’25SEK 54.20
SEK 90.35
+66.7%
12.7%SEK 106.59SEK 81.21n/a3
Sep ’25SEK 67.70
SEK 90.35
+33.5%
12.7%SEK 106.59SEK 81.21n/a3
Aug ’25SEK 62.80
SEK 92.74
+47.7%
12.4%SEK 111.41SEK 80.08n/a4
Jul ’25SEK 57.80
SEK 84.37
+46.0%
4.7%SEK 88.03SEK 78.83n/a3
Jun ’25SEK 67.40
SEK 84.60
+25.5%
3.7%SEK 88.02SEK 80.44n/a3
May ’25SEK 56.20
SEK 69.62
+23.9%
19.6%SEK 83.24SEK 56.00n/a2
Apr ’25SEK 58.00
SEK 69.62
+20.0%
19.6%SEK 83.24SEK 56.00n/a2
Mar ’25SEK 49.35
SEK 70.16
+42.2%
20.2%SEK 84.33SEK 55.99n/a2
Feb ’25SEK 40.05
SEK 70.00
+74.8%
19.6%SEK 83.75SEK 56.26n/a2
Jan ’25SEK 41.30
SEK 70.00
+69.5%
19.6%SEK 83.75SEK 56.26n/a2
Dec ’24SEK 37.70
SEK 70.00
+85.7%
19.6%SEK 83.75SEK 56.26n/a2
Nov ’24SEK 38.25
SEK 71.25
+86.3%
19.4%SEK 85.05SEK 57.44SEK 50.302
Oct ’24SEK 43.75
SEK 71.25
+62.9%
19.4%SEK 85.05SEK 57.44SEK 54.202
Sep ’24SEK 51.10
SEK 71.25
+39.4%
19.4%SEK 85.05SEK 57.44SEK 67.702
Aug ’24SEK 49.00
SEK 61.20
+24.9%
29.1%SEK 78.99SEK 43.41SEK 62.802
Jul ’24SEK 38.35
SEK 61.20
+59.6%
29.1%SEK 78.99SEK 43.41SEK 57.802
Jun ’24SEK 32.65
SEK 60.88
+86.5%
31.0%SEK 79.76SEK 41.99SEK 67.402
May ’24SEK 30.85
SEK 60.02
+94.5%
30.0%SEK 78.00SEK 42.03SEK 56.202
Apr ’24SEK 33.20
SEK 60.02
+80.8%
30.0%SEK 78.00SEK 42.03SEK 58.002
Jan ’24SEK 19.80
SEK 64.95
+228.0%
8.0%SEK 70.16SEK 59.74SEK 41.302
Dec ’23SEK 24.85
SEK 64.95
+161.4%
8.0%SEK 70.16SEK 59.74SEK 37.702

Analyst Forecast: Target price is less than 20% higher than the current share price.

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