Just Eat Takeaway.com Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: TKAY.F ($15) is trading below our estimate of fair value ($42.16)

Significantly Below Fair Value: TKAY.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 TKAY.F?

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

The above table shows the Price to Sales ratio for TKAY.F. This is calculated by dividing TKAY.F's market cap by their current revenue.
What is TKAY.F's PS Ratio?
PS Ratio	0.6x
Sales	€5.15b
Market Cap	€2.90b

TKAY.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	0.7x
Enterprise Value/EBITDA	-152x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does TKAY.F's PS Ratio compare to its peers?

The above table shows the PS ratio for TKAY.F 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
CAKE Cheesecake Factory	0.7x	5.4%	US$2.5b
WEN Wendy's	1.7x	3.2%	US$3.7b
DNUT Krispy Kreme	1.1x	7.8%	US$1.9b
EAT Brinker International	1.3x	4.1%	US$5.8b
TKAY.F Just Eat Takeaway.com	0.6x	4.8%	US$2.9b

Price-To-Sales vs Peers: TKAY.F is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (1.2x).

Price to Sales Ratio vs Industry

How does TKAY.F's PS Ratio compare vs other companies in the US Hospitality Industry?

30 Companies	Price / Sales	Estimated Growth	Market Cap
BLMN Bloomin' Brands	0.3x	-2.7%	US$1.17b
BALY Bally's	0.3x	2.2%	US$721.43m
TAST Carrols Restaurant Group	0.3x	2.9%	US$478.64m
GENK GEN Restaurant Group	0.2x	18.5%	US$265.19m

30 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: TKAY.F is good value based on its Price-To-Sales Ratio (0.6x) compared to the US Hospitality industry average (1.7x).

Price to Sales Ratio vs Fair Ratio

What is TKAY.F'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.

TKAY.F PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.6x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate TKAY.F'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?

The above table shows the analyst TKAY.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	n/a	US$20.68 0%	48.8%	US$49.41	US$9.46	n/a	18
Nov ’25	US$12.09	US$21.56 +78.3%	47.9%	US$51.06	US$9.78	n/a	19
Oct ’25	US$15.25	US$22.33 +46.4%	46.4%	US$52.03	US$9.96	n/a	19
Sep ’25	n/a	US$22.75 0%	45.6%	US$52.60	US$10.07	n/a	19
Aug ’25	US$12.50	US$22.13 +77.0%	45.8%	US$50.72	US$9.71	n/a	19
Jul ’25	US$12.16	US$23.51 +93.3%	41.7%	US$50.47	US$12.89	n/a	17
Jun ’25	n/a	US$23.07 0%	41.6%	US$50.28	US$12.84	n/a	18
May ’25	n/a	US$23.07 0%	41.6%	US$50.28	US$12.84	n/a	18
Apr ’25	n/a	US$23.99 0%	46.5%	US$52.80	US$13.06	n/a	18
Mar ’25	US$16.15	US$24.09 +49.2%	47.3%	US$52.56	US$13.00	n/a	17
Feb ’25	n/a	US$23.99 0%	48.0%	US$52.78	US$13.06	n/a	17
Jan ’25	US$15.28	US$26.22 +71.6%	68.6%	US$87.76	US$13.00	n/a	17
Dec ’24	US$15.60	US$27.39 +75.6%	67.5%	US$88.98	US$13.18	n/a	16
Nov ’24	US$12.26	US$27.30 +122.8%	66.5%	US$85.79	US$12.71	US$12.09	16
Oct ’24	n/a	US$30.06 0%	59.1%	US$85.63	US$10.57	US$15.25	17
Sep ’24	n/a	US$32.65 0%	53.3%	US$88.90	US$10.98	n/a	18
Aug ’24	US$17.90	US$32.57 +82.0%	53.5%	US$88.84	US$10.97	US$12.50	18
Jul ’24	US$14.00	US$33.35 +138.2%	53.7%	US$88.39	US$10.91	US$12.16	17
Jun ’24	n/a	US$35.27 0%	51.6%	US$88.98	US$10.99	n/a	15
May ’24	n/a	US$35.27 0%	51.6%	US$88.98	US$10.99	n/a	15
Apr ’24	n/a	US$37.16 0%	46.9%	US$87.86	US$10.85	n/a	14
Mar ’24	n/a	US$36.86 0%	45.1%	US$86.36	US$10.66	US$16.15	15
Feb ’24	n/a	US$38.20 0%	44.5%	US$88.98	US$10.99	n/a	15
Jan ’24	n/a	US$34.54 0%	53.9%	US$85.84	US$10.60	US$15.28	18
Dec ’23	US$23.25	US$34.30 +47.5%	54.0%	US$85.26	US$10.53	US$15.60	18
Nov ’23	US$18.20	US$31.86 +75.1%	55.8%	US$80.71	US$9.96	US$12.26	18

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.