Thinc Collective Valuation

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

THINC (SEK2.15) is trading below our estimate of [[fair value]] (SEK2.31)

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: THINC (SEK2.15) is trading below our estimate of fair value (SEK2.31)

Significantly Below Fair Value: THINC is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for THINC. This is calculated by dividing THINC's market cap by their current revenue.
What is THINC's PS Ratio?
PS Ratio	0.1x
Sales	SEK 299.45m
Market Cap	SEK 35.12m

THINC 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	0.1x
Enterprise Value/EBITDA	4.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for THINC 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	2.7x
ZAPLOX Zaplox	2.2x	n/a	SEK 40.7m
RMDX Railway Metrics and Dynamics Sweden	1.6x	n/a	SEK 27.7m
DLAB Dlaboratory Sweden	0.8x	n/a	SEK 36.6m
NORDIG Nord Insuretech Group	6.3x	n/a	SEK 48.7m
THINC Thinc Collective	0.1x	n/a	SEK 35.1m

Price-To-Sales vs Peers: THINC is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (2.5x).

Price to Sales Ratio vs Industry

How does THINC's PS Ratio compare vs other companies in the SE Software Industry?

12 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	2.3x	15.5%
THINC Thinc Collective	0.1x	n/a	US$3.21m
QBIT QuickBit eu	0.5x	n/a	US$41.78m
ARCA Arcario	0.4x	n/a	US$25.36m

12 Companies		Estimated Growth	Market Cap
Industry Avg.	2.3x	40.5%
THINC Thinc Collective	0.1x	n/a	US$3.21m

No more companies

Price-To-Sales vs Industry: THINC is good value based on its Price-To-Sales Ratio (0.1x) compared to the Swedish Software industry average (1.7x).

Price to Sales Ratio vs Fair Ratio

What is THINC'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.

THINC PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.1x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate THINC'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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