Baltic Horizon Fund Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

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

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for NHCBHFFSDB. This is calculated by dividing NHCBHFFSDB's market cap by their current revenue.
What is NHCBHFFSDB's PS Ratio?
PS Ratio	1.8x
Sales	€20.20m
Market Cap	€36.49m

NHCBHFFSDB 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	8.6x
Enterprise Value/EBITDA	18.3x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for NHCBHFFSDB 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	1.9x
CASE Case Group	3.7x	n/a	SEK 560.0m
TRAN A Transferator	3.3x	n/a	SEK 194.9m
SEAF Seafire	0.3x	n/a	SEK 235.7m
VO2 Vo2 Cap Holding	0.3x	9.6%	SEK 107.5m
NHCBHFFSDB Baltic Horizon Fund	1.8x	n/a	SEK 36.5m

Price-To-Sales vs Peers: NHCBHFFSDB is good value based on its Price-To-Sales Ratio (1.8x) compared to the peer average (1.9x).

Price to Sales Ratio vs Industry

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

8 Companies	Price / Sales	Estimated Growth	Market Cap
RATO B Ratos	0.3x	4.5%	US$973.29m
NAVIGO STAM Navigo Invest	0.3x	12.7%	US$32.44m
SEAF Seafire	0.3x	n/a	US$21.60m
SFL Safello Group	0.2x	n/a	US$10.84m

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: NHCBHFFSDB is good value based on its Price-To-Sales Ratio (1.8x) compared to the Swedish Capital Markets industry average (3x).

Price to Sales Ratio vs Fair Ratio

What is NHCBHFFSDB'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.

NHCBHFFSDB PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.8x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate NHCBHFFSDB's Price-To-Sales 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.

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