Nordic Semiconductor Valuation

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

NRSD.Y ($9.86) is trading above our estimate of [[fair value]] ($9.53)

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

Below Fair Value: NRSD.Y ($9.86) is trading above our estimate of fair value ($9.53)

Significantly Below Fair Value: NRSD.Y is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NRSD.Y?

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

The above table shows the Price to Sales ratio for NRSD.Y. This is calculated by dividing NRSD.Y's market cap by their current revenue.
What is NRSD.Y's PS Ratio?
PS Ratio	3.5x
Sales	US$469.41m
Market Cap	US$1.66b

NRSD.Y 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	3.3x
Enterprise Value/EBITDA	-33.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does NRSD.Y's PS Ratio compare to its peers?

The above table shows the PS ratio for NRSD.Y 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	4.8x
SIMO Silicon Motion Technology	2.3x	7.5%	US$1.9b
AMBA Ambarella	11.9x	21.4%	US$2.6b
AOSL Alpha and Omega Semiconductor	1.7x	6.8%	US$1.1b
MXL MaxLinear	3.3x	16.2%	US$1.3b
NRSD.Y Nordic Semiconductor	3.5x	17.4%	US$18.4b

Price-To-Sales vs Peers: NRSD.Y is good value based on its Price-To-Sales Ratio (3.5x) compared to the peer average (4.8x).

Price to Sales Ratio vs Industry

How does NRSD.Y's PS Ratio compare vs other companies in the US Semiconductor Industry?

18 Companies	Price / Sales	Estimated Growth	Market Cap
UCTT Ultra Clean Holdings	0.8x	10.5%	US$1.68b
JKS JinkoSolar Holding	0.08x	13.1%	US$1.15b
PENG Penguin Solutions	0.8x	11.9%	US$940.57m
CSIQ Canadian Solar	0.1x	13.9%	US$788.01m

18 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: NRSD.Y is good value based on its Price-To-Sales Ratio (3.5x) compared to the US Semiconductor industry average (4x).

Price to Sales Ratio vs Fair Ratio

What is NRSD.Y'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.

NRSD.Y PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	3.5x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate NRSD.Y'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?

Analyst Forecast: Insufficient data to show price forecast.

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