Castellum Valuation

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

CTM ($0.17) is trading below our estimate of [[fair value]] ($3.29)

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

Below Fair Value: CTM ($0.17) is trading below our estimate of fair value ($3.29)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for CTM. This is calculated by dividing CTM's market cap by their current revenue.
What is CTM's PS Ratio?
PS Ratio	0.2x
Sales	US$45.56m
Market Cap	US$9.54m

CTM 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	0.4x
Enterprise Value/EBITDA	-3.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for CTM 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	0.7x
INPX Inpixon	1x	n/a	US$11.5m
UBXG U-BX Technology	0.2x	n/a	US$9.0m
VRAR Glimpse Group	1.4x	n/a	US$10.7m
CISO CISO Global	0.3x	n/a	US$12.3m
CTM Castellum	0.2x	n/a	US$9.5m

Price-To-Sales vs Peers: CTM is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does CTM's PS Ratio compare vs other companies in the US IT Industry?

27 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	2.0x	9.7%
CTM Castellum	0.2x	n/a	US$9.54m
KD Kyndryl Holdings	0.4x	1.7%	US$6.51b
DXC DXC Technology	0.3x	-1.9%	US$3.55b

27 Companies		Estimated Growth	Market Cap
Industry Avg.	2.0x	14.9%
CTM Castellum	0.2x	n/a	US$9.54m

No more companies

Price-To-Sales vs Industry: CTM is good value based on its Price-To-Sales Ratio (0.2x) compared to the US IT industry average (2x).

Price to Sales Ratio vs Fair Ratio

What is CTM'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.

CTM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.2x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate CTM'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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