Zion Oil & Gas Valuation

Is ZNOG 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-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

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

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

Key Valuation Metric

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

Key metric: As ZNOG is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for ZNOG. This is calculated by dividing ZNOG's market cap by their current book value.
What is ZNOG's PB Ratio?
PB Ratio	3.7x
Book	US$26.61m
Market Cap	US$95.77m

ZNOG 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	n/a
Enterprise Value/EBITDA	-14.8x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does ZNOG's PB Ratio compare to its peers?

The above table shows the PB ratio for ZNOG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	13.5x
PED PEDEVCO	0.7x	35.6%	US$79.5m
CRT Cross Timbers Royalty Trust	26.5x	n/a	US$66.6m
MVO MV Oil Trust	25.1x	n/a	US$105.1m
BATL Battalion Oil	1.7x	n/a	US$57.6m
ZNOG Zion Oil & Gas	3.7x	n/a	US$95.8m

Price-To-Book vs Peers: ZNOG is good value based on its Price-To-Book Ratio (3.7x) compared to the peer average (13.5x).

Price to Book Ratio vs Industry

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

8 Companies	Price / Book	Estimated Growth	Market Cap
AXAS Abraxas Petroleum	0.06x	n/a	US$10.27m
VTNR.Q Vertex Energy	0.05x	n/a	US$6.06m
FECO.F FEC Resources	0.2x	n/a	US$1.46m
VELX.Q Canadian Overseas Petroleum	0.05x	n/a	US$1.10m

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: ZNOG is expensive based on its Price-To-Book Ratio (3.7x) compared to the US Oil and Gas industry average (1.5x).

Price to Book Ratio vs Fair Ratio

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

ZNOG PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	3.7x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ZNOG's Price-To-Book 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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