Emerald Holding, Inc.

NYSE:EEX Stock Report

Market Cap: US$964.2m

Emerald Holding Valuation

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

Below Fair Value: EEX ($4.68) is trading below our estimate of fair value ($14.42)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for EEX. This is calculated by dividing EEX's market cap by their current revenue.
What is EEX's PS Ratio?
PS Ratio2.4x
SalesUS$393.50m
Market CapUS$964.18m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for EEX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.4x
NCMI National CineMedia
2.6x11.8%US$641.6m
ADV Advantage Solutions
0.3x-2.5%US$1.1b
PUBM PubMatic
2.5x7.9%US$739.9m
CCO Clear Channel Outdoor Holdings
0.3x4.0%US$763.0m
EEX Emerald Holding
2.4x6.6%US$964.2m

Price-To-Sales vs Peers: EEX is expensive based on its Price-To-Sales Ratio (2.4x) compared to the peer average (1.4x).

Price to Sales Ratio vs Industry

How does EEX's PS Ratio compare vs other companies in the US Media Industry?

35 CompaniesPrice / SalesEstimated GrowthMarket Cap
PARA Paramount Global
0.2x1.5%US$7.37b
DISH DISH Network
0.2x-1.3%US$3.08b
ATUS Altice USA
0.1x-2.4%US$1.10b
ADV Advantage Solutions
0.3x-2.5%US$1.08b
EEX 2.4xIndustry Avg. 0.9xNo. of Companies35PS01.22.43.64.86+
35 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: EEX is expensive based on its Price-To-Sales Ratio (2.4x) compared to the US Media industry average (0.9x).

Price to Sales Ratio vs Fair Ratio

What is EEX'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.

EEX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.4x
Fair PS Ratio1.3x

Price-To-Sales vs Fair Ratio: EEX is expensive based on its Price-To-Sales Ratio (2.4x) compared to the estimated Fair Price-To-Sales Ratio (1.3x).

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 EEX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$4.68
US$7.90
+68.8%
1.3%US$8.00US$7.80n/a2
Nov ’25US$4.08
US$7.90
+93.6%
1.3%US$8.00US$7.80n/a2
Oct ’25US$4.61
US$9.70
+110.4%
13.4%US$11.00US$8.40n/a2
Sep ’25US$5.55
US$9.70
+74.8%
13.4%US$11.00US$8.40n/a2
Aug ’25US$5.51
US$9.60
+74.2%
14.6%US$11.00US$8.20n/a2
Jul ’25US$5.50
US$9.60
+74.5%
14.6%US$11.00US$8.20n/a2
Jun ’25US$5.70
US$9.60
+68.4%
14.6%US$11.00US$8.20n/a2
May ’25US$5.88
US$9.43
+60.4%
12.4%US$11.00US$8.20n/a3
Apr ’25US$6.40
US$9.35
+46.1%
10.9%US$11.00US$8.20n/a4
Mar ’25US$5.71
US$9.35
+63.7%
10.9%US$11.00US$8.20n/a4
Feb ’25US$6.18
US$9.40
+52.1%
10.3%US$11.00US$8.40n/a4
Jan ’25US$5.98
US$9.40
+57.2%
10.3%US$11.00US$8.40n/a4
Dec ’24US$5.22
US$9.40
+80.1%
10.3%US$11.00US$8.40n/a4
Nov ’24US$4.99
US$9.43
+89.0%
20.9%US$12.00US$7.20US$4.083
Oct ’24US$4.52
US$9.43
+108.7%
20.9%US$12.00US$7.20US$4.613
Sep ’24US$4.34
US$9.60
+121.2%
25.0%US$12.00US$7.20US$5.552
Aug ’24US$4.84
US$9.60
+98.3%
25.0%US$12.00US$7.20US$5.512

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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