CoinShares International Limited

OM:CS Stock Report

Market Cap: SEK 5.4b

CoinShares International Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 Ratio5.2x
SalesUK£74.27m
Market CapUK£388.46m

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 Average2.7x
CAT B Catella
1.6x11.9%SEK 2.4b
TRAC B AB Traction
5.7xn/aSEK 3.8b
RATO B Ratos
0.3x4.5%SEK 10.1b
VEFAB VEF
3xn/aSEK 2.3b
CS CoinShares International
5.2x12.0%SEK 5.4b

Price-To-Sales vs Peers: CS is expensive based on its Price-To-Sales Ratio (5.2x) compared to the peer average (2.7x).

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$910.78m
NAVIGO STAM Navigo Invest
0.3x12.7%US$29.11m
SEAF Seafire
0.3xn/aUS$20.81m
SFL Safello Group
0.2x3.5%US$10.48m
CS 5.2xIndustry Avg. 3.2xNo. 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 (5.2x) compared to the Swedish Capital Markets industry average (3.2x).

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 Ratio5.2x
Fair PS Ratio2.2x

Price-To-Sales vs Fair Ratio: CS is expensive based on its Price-To-Sales Ratio (5.2x) compared to the estimated Fair Price-To-Sales Ratio (2.2x).

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 82.50
SEK 100.26
+21.5%
9.5%SEK 109.57SEK 87.17n/a3
Dec ’25SEK 84.80
SEK 90.89
+7.2%
11.5%SEK 104.88SEK 79.90n/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 56.26SEK 84.802
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 more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 12:12
End of Day Share Price 2024/12/23 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

CoinShares International Limited is covered by 4 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier Sponsored
Mark PalmerBTIG
Kevin DedeH.C. Wainwright & Co.