Ideanomics Valuation

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

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

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for IDEX. This is calculated by dividing IDEX's market cap by their current revenue.
What is IDEX's PS Ratio?
PS Ratio	0.3x
Sales	US$15.46m
Market Cap	US$4.01m

IDEX 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	3x
Enterprise Value/EBITDA	-0.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for IDEX 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	1.2x
KITT Nauticus Robotics	2.8x	n/a	US$6.8m
CVGI Commercial Vehicle Group	0.09x	-8.8%	US$78.3m
HYZN Hyzon Motors	1.2x	97.5%	US$12.9m
XOS Xos	0.6x	58.2%	US$36.5m
IDEX Ideanomics	0.3x	n/a	US$4.0m

Price-To-Sales vs Peers: IDEX is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (1.2x).

Price to Sales Ratio vs Industry

How does IDEX's PS Ratio compare vs other companies in the US Machinery Industry?

17 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	1.6x	3.2%
IDEX Ideanomics	0.3x	n/a	US$4.01m
HY Hyster-Yale	0.2x	-0.6%	US$993.19m
TWI Titan International	0.2x	2.2%	US$460.92m

17 Companies		Estimated Growth	Market Cap
Industry Avg.	1.6x	9.0%
IDEX Ideanomics	0.3x	n/a	US$4.01m

No more companies

Price-To-Sales vs Industry: IDEX is good value based on its Price-To-Sales Ratio (0.3x) compared to the US Machinery industry average (1.6x).

Price to Sales Ratio vs Fair Ratio

What is IDEX'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.

IDEX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.3x
Fair PS Ratio	n/a

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