Klaria Pharma Holding AB (publ.) Valuation

Q: What is the Fair Price of KLAR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

KLAR (SEK0.4) is trading below our estimate of [[fair value]] (SEK14.78)

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

Below Fair Value: KLAR (SEK0.4) is trading below our estimate of fair value (SEK14.78)

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

Key Valuation Metric

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

Key metric: As KLAR 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 KLAR. This is calculated by dividing KLAR's market cap by their current book value.
What is KLAR's PB Ratio?
PB Ratio	4.4x
Book	SEK 12.92m
Market Cap	SEK 57.47m

KLAR 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	-7.7x
Enterprise Value/EBITDA	-8.1x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does KLAR's PB Ratio compare to its peers?

The above table shows the PB ratio for KLAR 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	4.3x
RLS RLS Global	2.1x	92.8%	SEK 35.6m
LIPI Lipidor	5.8x	n/a	SEK 95.2m
ALZCUR AlzeCure Pharma	2.6x	-32.5%	SEK 92.7m
ERMA Enorama Pharma	6.8x	n/a	SEK 228.0m
KLAR Klaria Pharma Holding AB (publ.)	4.4x	57.2%	SEK 57.5m

Price-To-Book vs Peers: KLAR is expensive based on its Price-To-Book Ratio (4.4x) compared to the peer average (4.2x).

Price to Book Ratio vs Industry

How does KLAR's PB Ratio compare vs other companies in the SE Pharmaceuticals Industry?

5 Companies	Price / Book	Estimated Growth	Market Cap
KDEV Karolinska Development	0.2x	5.8%	US$25.46m
EEVIA Eevia Health Oyj	0.5x	n/a	US$1.30m
PHARM Pharmiva	0.6x	n/a	US$931.42k
REDW Redwood Pharma	0.3x	n/a	US$301.09k

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: KLAR is expensive based on its Price-To-Book Ratio (4.4x) compared to the Swedish Pharmaceuticals industry average (3.1x).

Price to Book Ratio vs Fair Ratio

What is KLAR'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.

KLAR PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	4.4x
Fair PB Ratio	n/a

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

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