Societe Magasin General Valuation

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

MAG (TND7.5) is trading above our estimate of [[fair value]] (TND1.01)

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

Below Fair Value: MAG (TND7.5) is trading above our estimate of fair value (TND1.01)

Significantly Below Fair Value: MAG is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for MAG. This is calculated by dividing MAG's market cap by their current revenue.
What is MAG's PS Ratio?
PS Ratio	0.1x
Sales	د.ت1.10b
Market Cap	د.ت118.23m

MAG 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	0.2x
Enterprise Value/EBITDA	9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for MAG 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	0.7x
MNP Société Nouvelle Maison de la Ville de Tunis	0.1x	7.1%	د.ت93.8m
CITY City Cars	0.6x	6.7%	د.ت227.9m
ARTES Automobile Réseau Tunisien et Services	1.5x	10.8%	د.ت288.0m
NAKL Ennakl Automobiles	0.5x	2.8%	د.ت325.5m
MAG Societe Magasin General	0.1x	5.5%	د.ت118.2m

Price-To-Sales vs Peers: MAG is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does MAG's PS Ratio compare vs other companies in the Global Multiline Retail Industry?

45 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	0.8x	10.0%
MAG Societe Magasin General	0.1x	5.5%	US$37.55m

45 Companies		Estimated Growth	Market Cap
Industry Avg.	0.8x	18.4%
MAG Societe Magasin General	0.1x	31.4%	US$37.55m

No more companies

Price-To-Sales vs Industry: MAG is good value based on its Price-To-Sales Ratio (0.1x) compared to the Global Multiline Retail industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is MAG'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.

MAG PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.1x
Fair PS Ratio	0.2x

Price-To-Sales vs Fair Ratio: MAG is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.2x).

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.