enCore Energy Corp.

NasdaqCM:EU Stock Report

Market Cap: US$701.3m

enCore Energy Valuation

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

Below Fair Value: EU ($3.94) is trading below our estimate of fair value ($21.7)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for EU. This is calculated by dividing EU's market cap by their current revenue.
What is EU's PS Ratio?
PS Ratio16.1x
SalesUS$44.97m
Market CapUS$701.26m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for EU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.8x
HNRG Hallador Energy
1.3x20.2%US$551.9m
LEU Centrus Energy
3.3x4.7%US$1.2b
NRP Natural Resource Partners
5.4xn/aUS$1.4b
NC NACCO Industries
1xn/aUS$219.4m
EU enCore Energy
16.1x41.2%US$979.5m

Price-To-Sales vs Peers: EU is expensive based on its Price-To-Sales Ratio (16.1x) compared to the peer average (2.8x).

Price to Sales Ratio vs Industry

How does EU's PS Ratio compare vs other companies in the US Oil and Gas Industry?

37 CompaniesPrice / SalesEstimated GrowthMarket Cap
PSX Phillips 66
0.4x-5.4%US$54.29b
MPC Marathon Petroleum
0.4x-3.6%US$51.22b
VLO Valero Energy
0.3x-2.7%US$44.70b
PAA Plains All American Pipeline
0.2x-2.1%US$12.36b
EU 16.1xIndustry Avg. 1.8xNo. of Companies37PS01.63.24.86.48+
37 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: EU is expensive based on its Price-To-Sales Ratio (16.1x) compared to the US Oil and Gas industry average (1.9x).

Price to Sales Ratio vs Fair Ratio

What is EU'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.

EU PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio16.1x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: EU is expensive based on its Price-To-Sales Ratio (16.1x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

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 EU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$3.94
US$5.73
+45.4%
15.3%US$7.16US$5.01n/a4
Nov ’25US$3.80
US$5.96
+56.9%
15.3%US$7.34US$5.14n/a4
Oct ’25US$4.10
US$6.02
+46.7%
15.3%US$7.40US$5.18n/a4
Sep ’25US$3.64
US$5.82
+60.0%
15.3%US$7.28US$5.10n/a4
Aug ’25US$3.63
US$5.96
+64.1%
14.0%US$7.33US$5.13n/a4
Jul ’25US$3.98
US$6.08
+52.8%
11.9%US$7.32US$5.49n/a4
Jun ’25US$4.85
US$6.08
+25.4%
11.9%US$7.32US$5.49n/a4
May ’25US$4.75
US$6.26
+31.9%
11.7%US$7.30US$5.66n/a3
Apr ’25US$4.50
US$6.08
+35.1%
15.5%US$7.37US$5.16n/a3
Mar ’25US$3.99
US$5.82
+45.9%
19.7%US$7.43US$4.83n/a3
Feb ’25US$4.84
US$5.35
+10.6%
8.7%US$5.98US$4.85n/a3
Jan ’25US$3.93
US$5.35
+36.0%
8.7%US$5.97US$4.85n/a3
Dec ’24US$3.91
US$4.73
+20.9%
12.0%US$5.53US$4.24n/a3
Nov ’24US$3.22
US$4.65
+44.5%
12.0%US$5.44US$4.17US$3.803
Oct ’24US$3.26
US$4.32
+32.6%
10.7%US$4.82US$3.70US$4.103
Sep ’24US$2.56
US$4.32
+68.8%
10.7%US$4.82US$3.70US$3.643
Aug ’24US$2.50
US$4.32
+72.9%
10.7%US$4.82US$3.70US$3.633
Jul ’24US$2.41
US$4.32
+79.3%
10.7%US$4.82US$3.70US$3.983
Jun ’24US$2.29
US$4.32
+88.7%
10.7%US$4.82US$3.70US$4.853
May ’24US$2.11
US$4.33
+105.2%
9.9%US$4.80US$3.76US$4.753
Apr ’24US$2.27
US$4.28
+88.4%
9.9%US$4.74US$3.72US$4.503

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.

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