Dyno Nobel Limited

OTCPK:ICPV.F Stock Report

Market Cap: US$2.5b

Dyno Nobel Valuation

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

Discounted Cash Flow
Simply Wall St
US$4.14
Fair Value
63.5% undervalued intrinsic discount
12
Number of Analysts

Below Fair Value: ICPV.F ($1.51) is trading below our estimate of fair value ($4.14)

Significantly Below Fair Value: ICPV.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 ICPV.F?

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

The above table shows the Price to Sales ratio for ICPV.F. This is calculated by dividing ICPV.F's market cap by their current revenue.
What is ICPV.F's PS Ratio?
PS Ratio0.8x
SalesAU$5.34b
Market CapAU$4.08b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for ICPV.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.6x
HUN Huntsman
0.4x4.3%US$2.3b
CC Chemours
0.3x3.5%US$1.6b
LXU LSB Industries
0.7x3.9%US$392.3m
AVNT Avient
0.8x3.4%US$2.8b
ICPV.F Dyno Nobel
0.8x0.4%US$4.1b

Price-To-Sales vs Peers: ICPV.F is expensive based on its Price-To-Sales Ratio (0.8x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

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

20 CompaniesPrice / SalesEstimated GrowthMarket Cap
KOP Koppers Holdings
0.2x2.8%US$512.14m
VHI Valhi
0.2xn/aUS$467.15m
RYAM Rayonier Advanced Materials
0.2x2.9%US$328.52m
MATV Mativ Holdings
0.1x1.5%US$264.96m
ICPV.F 0.8xIndustry Avg. 1.0xNo. of Companies20PS012345+
20 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ICPV.F is good value based on its Price-To-Sales Ratio (0.8x) compared to the US Chemicals industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is ICPV.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.

ICPV.F PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.8x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate ICPV.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 ICPV.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.51
US$1.94
+28.7%
7.1%US$2.14US$1.73n/a12
Apr ’26US$1.60
US$2.04
+27.3%
6.9%US$2.24US$1.81n/a13
Mar ’26US$1.74
US$2.07
+19.4%
8.1%US$2.45US$1.82n/a13
Feb ’26n/a
US$2.07
0%
7.8%US$2.43US$1.81n/a13
Jan ’26US$1.87
US$2.07
+10.5%
7.8%US$2.43US$1.81n/a13
Dec ’25n/a
US$2.17
0%
7.9%US$2.56US$1.91n/a13
Nov ’25n/a
US$2.12
0%
6.9%US$2.38US$1.91n/a14
Oct ’25US$2.14
US$2.21
+3.3%
6.2%US$2.52US$2.01n/a14
Sep ’25n/a
US$2.05
0%
4.8%US$2.22US$1.90n/a14
Aug ’25US$1.90
US$2.07
+8.7%
5.1%US$2.23US$1.91n/a14
Jul ’25n/a
US$2.15
0%
6.0%US$2.34US$1.89n/a12
Jun ’25n/a
US$2.15
0%
6.0%US$2.34US$1.89n/a12
May ’25n/a
US$1.97
0%
7.4%US$2.18US$1.65n/a14
Apr ’25US$1.75
US$2.01
+15.1%
7.6%US$2.20US$1.67US$1.6014
Mar ’25n/a
US$2.01
0%
7.6%US$2.20US$1.67US$1.7414
Feb ’25n/a
US$2.06
0%
8.7%US$2.43US$1.68n/a14
Jan ’25n/a
US$2.13
0%
8.1%US$2.49US$1.82US$1.8714
Dec ’24n/a
US$2.10
0%
8.2%US$2.44US$1.78n/a12
Nov ’24n/a
US$2.06
0%
8.7%US$2.34US$1.80n/a11
Oct ’24n/a
US$2.10
0%
8.7%US$2.38US$1.83US$2.1411
Sep ’24n/a
US$2.12
0%
8.9%US$2.37US$1.83n/a11
Aug ’24US$2.03
US$2.21
+8.7%
8.6%US$2.49US$1.92US$1.9010
Jul ’24US$1.85
US$2.23
+20.3%
7.4%US$2.47US$2.00n/a9
Jun ’24US$2.03
US$2.31
+14.0%
9.1%US$2.66US$2.06n/a9
May ’24n/a
US$2.59
0%
9.8%US$3.01US$2.25n/a8
Apr ’24n/a
US$2.67
0%
10.2%US$3.13US$2.33US$1.759
AnalystConsensusTarget
Consensus Narrative from 12 Analysts
US$2.15
Fair Value
29.9% undervalued intrinsic discount
12
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/04/08 15:07
End of Day Share Price 2025/04/02 00:00
Earnings2024/09/30
Annual Earnings2024/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Dyno Nobel Limited is covered by 32 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David Matthew KratochvilAlliance Global Partners
Dennis HulmeAPP Securities Pty Ltd.
Josh KannourakisBarrenjoey Markets Pty Limited