SP Plus Valuation

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

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: SP ($53.99) is trading above our estimate of fair value ($24.37)

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

Key Valuation Metric

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

Key metric: As SP is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SP. This is calculated by dividing SP's market cap by their current earnings.
What is SP's PE Ratio?
PE Ratio	35.3x
Earnings	US$30.30m
Market Cap	US$1.07b

SP 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	1.8x
Enterprise Value/EBITDA	12.4x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does SP's PE Ratio compare to its peers?

The above table shows the PE ratio for SP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	55.7x
CECO CECO Environmental	91.7x	44.9%	US$1.1b
HCCI Heritage-Crystal Clean	14.6x	-9.0%	US$1.1b
ARIS Aris Water Solutions	33.7x	40.2%	US$1.6b
BV BrightView Holdings	83x	56.8%	US$1.6b
SP SP Plus	35.3x	n/a	US$1.1b

Price-To-Earnings vs Peers: SP is good value based on its Price-To-Earnings Ratio (35.3x) compared to the peer average (45.8x).

Price to Earnings Ratio vs Industry

How does SP's PE Ratio compare vs other companies in the US Commercial Services Industry?

7 Companies	Price / Earnings	Estimated Growth	Market Cap
SGTM Sustainable Green Team	3.9x	n/a	US$43.63m
CDTG CDT Environmental Technology Investment Holdings	4.6x	n/a	US$34.24m
PGTK Pacific Green Technologies	3.9x	n/a	US$31.29m
OMEX Odyssey Marine Exploration	0.7x	n/a	US$8.54m

7 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: SP is expensive based on its Price-To-Earnings Ratio (35.3x) compared to the US Commercial Services industry average (29.3x).

Price to Earnings Ratio vs Fair Ratio

What is SP's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	35.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SP's Price-To-Earnings 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.