Calian Group Valuation

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

CLNF.F ($34.76) is trading below our estimate of [[fair value]] ($104.54)

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

Below Fair Value: CLNF.F ($34.76) is trading below our estimate of fair value ($104.54)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CLNF.F?

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

The above table shows the Price to Earnings ratio for CLNF.F. This is calculated by dividing CLNF.F's market cap by their current earnings.
What is CLNF.F's PE Ratio?
PE Ratio	34x
Earnings	CA$16.87m
Market Cap	CA$573.92m

CLNF.F 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	0.9x
Enterprise Value/EBITDA	8.3x
PEG Ratio	1x

Price to Earnings Ratio vs Peers

How does CLNF.F's PE Ratio compare to its peers?

The above table shows the PE ratio for CLNF.F 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	28.5x
CVEO Civeo	16x	-20.5%	US$336.7m
LQDT Liquidity Services	39x	27.1%	US$775.5m
HCSG Healthcare Services Group	16.8x	16.2%	US$856.0m
VVI Viad	42.1x	33.2%	US$917.4m
CLNF.F Calian Group	34x	35.3%	US$573.9m

Price-To-Earnings vs Peers: CLNF.F is expensive based on its Price-To-Earnings Ratio (34x) compared to the peer average (28.5x).

Price to Earnings Ratio vs Industry

How does CLNF.F'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: CLNF.F is expensive based on its Price-To-Earnings Ratio (34x) compared to the US Commercial Services industry average (32.7x).

Price to Earnings Ratio vs Fair Ratio

What is CLNF.F'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.

CLNF.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	34x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CLNF.F'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?

The above table shows the analyst CLNF.F forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	US$34.76	US$51.41 +47.9%	8.4%	US$58.67	US$45.07	n/a	7
Nov ’25	US$34.51	US$52.33 +51.6%	8.4%	US$59.72	US$45.88	n/a	7
Oct ’25	US$34.59	US$52.33 +51.3%	8.4%	US$59.72	US$45.88	n/a	7
Sep ’25	n/a	US$52.33 0%	8.4%	US$59.72	US$45.88	n/a	7
Aug ’25	US$40.46	US$57.64 +42.5%	7.1%	US$66.76	US$54.28	n/a	7
Jul ’25	US$41.06	US$57.74 +40.6%	7.1%	US$66.87	US$54.38	n/a	7
Jun ’25	US$39.71	US$57.74 +45.4%	7.1%	US$66.87	US$54.38	n/a	7
May ’25	n/a	US$56.13 0%	5.8%	US$64.04	US$53.00	n/a	8
Apr ’25	n/a	US$56.13 0%	5.8%	US$64.04	US$53.00	n/a	8
Mar ’25	n/a	US$56.48 0%	5.7%	US$63.68	US$53.31	n/a	7
Feb ’25	n/a	US$52.66 0%	6.9%	US$57.39	US$47.82	n/a	7
Jan ’25	n/a	US$52.66 0%	6.9%	US$57.39	US$47.82	n/a	7
Dec ’24	US$41.67	US$52.23 +25.3%	7.2%	US$57.38	US$47.81	n/a	6
Nov ’24	US$35.24	US$51.79 +47.0%	7.2%	US$56.23	US$46.86	US$34.51	6
Oct ’24	US$37.62	US$53.62 +42.5%	6.8%	US$57.85	US$48.21	US$34.59	7
Sep ’24	n/a	US$54.39 0%	5.7%	US$57.72	US$48.84	n/a	6
Aug ’24	US$48.20	US$61.30 +27.2%	4.2%	US$64.16	US$56.62	US$40.46	5
Jul ’24	n/a	US$61.30 0%	4.2%	US$64.16	US$56.62	US$41.06	5
Jun ’24	US$43.27	US$59.66 +37.9%	3.6%	US$62.72	US$55.34	US$39.71	7
May ’24	n/a	US$59.79 0%	3.7%	US$62.75	US$55.37	n/a	7
Apr ’24	US$47.28	US$59.37 +25.6%	5.0%	US$65.06	US$54.22	n/a	8
Mar ’24	n/a	US$59.92 0%	3.4%	US$63.07	US$55.65	n/a	8
Feb ’24	US$43.00	US$60.15 +39.9%	3.4%	US$63.31	US$55.86	n/a	8
Jan ’24	n/a	US$59.57 0%	3.4%	US$62.71	US$55.33	n/a	8
Dec ’23	US$49.49	US$59.80 +20.8%	3.4%	US$62.95	US$55.54	US$41.67	8
Nov ’23	US$42.49	US$63.24 +48.8%	6.8%	US$73.15	US$57.75	US$35.24	8

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.