Thinkific Labs Inc.

OTCPK:THNC.F Stock Report

Market Cap: US$109.5m

Thinkific Labs Valuation

Is THNC.F 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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of THNC.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$4.42
Fair Value
57.0% undervalued intrinsic discount
6
Number of Analysts

Below Fair Value: THNC.F ($1.9) is trading below our estimate of fair value ($4.42)

Significantly Below Fair Value: THNC.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 THNC.F?

Key metric: As THNC.F is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for THNC.F. This is calculated by dividing THNC.F's market cap by their current earnings.
What is THNC.F's PE Ratio?
PE Ratio88.8x
EarningsUS$1.23m
Market CapUS$109.51m

Price to Earnings Ratio vs Peers

How does THNC.F's PE Ratio compare to its peers?

The above table shows the PE ratio for THNC.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average72.5x
FATN FatPipe
53.6xn/aUS$108.7m
NBBI Neuralbase AI
134xn/aUS$165.6m
RDCM RADCOM
26.8xn/aUS$232.4m
HPAI Helport AI
75.7xn/aUS$171.6m
THNC.F Thinkific Labs
88.2x-114.28%US$150.0m

Price-To-Earnings vs Peers: THNC.F is expensive based on its Price-To-Earnings Ratio (88.2x) compared to the peer average (72.5x).

Price to Earnings Ratio vs Industry

How does THNC.F's PE Ratio compare vs other companies in the US Software Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NXTT Next Technology Holding
4.6xn/aUS$977.23m
CCSI Consensus Cloud Solutions
5x9.10%US$410.95m
YXT YXT.COM Group Holding
1.3xn/aUS$51.65m
AMOD Alpha Modus Holdings
4.5xn/aUS$19.22m
THNC.F 88.8xIndustry Avg. 45.7xNo. of Companies12PE020406080100+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: THNC.F is expensive based on its Price-To-Earnings Ratio (88.2x) compared to the US Software industry average (45.7x).

Price to Earnings Ratio vs Fair Ratio

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

THNC.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio88.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate THNC.F's Price-To-Earnings 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 THNC.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.90
US$2.85
+50.14%
22.81%US$3.99US$2.19n/a6
Jul ’26n/a
US$2.94
0%
20.03%US$3.99US$2.36n/a6
Jun ’26US$1.89
US$2.93
+55.19%
20.02%US$3.99US$2.36n/a6
May ’26US$1.74
US$2.92
+67.58%
17.63%US$3.86US$2.46n/a6
Apr ’26US$1.85
US$2.98
+61.57%
17.32%US$3.86US$2.46n/a6
Mar ’26n/a
US$3.32
0%
13.80%US$3.95US$2.51n/a6
Feb ’26n/a
US$3.33
0%
13.61%US$3.95US$2.51n/a6
Jan ’26US$2.13
US$3.34
+56.65%
13.58%US$3.95US$2.51n/a6
Dec ’25US$2.21
US$3.35
+51.66%
13.36%US$3.95US$2.51n/a6
Nov ’25n/a
US$3.41
0%
8.64%US$3.71US$2.87n/a6
Oct ’25US$1.94
US$3.42
+76.12%
8.20%US$3.71US$2.91n/a6
Sep ’25n/a
US$3.40
0%
7.99%US$3.64US$2.91n/a6
Aug ’25n/a
US$3.44
0%
8.90%US$3.86US$2.94n/a6
Jul ’25US$3.25
US$3.34
+2.78%
11.38%US$3.86US$2.73n/a7
Jun ’25US$2.57
US$3.34
+30.11%
11.36%US$3.86US$2.73US$1.897
May ’25n/a
US$3.37
0%
9.34%US$3.71US$2.95US$1.747
Apr ’25US$2.95
US$3.37
+14.37%
9.28%US$3.71US$2.95US$1.857
Mar ’25US$2.72
US$2.86
+5.17%
21.24%US$3.74US$1.81n/a7
Feb ’25US$2.65
US$2.86
+7.79%
21.24%US$3.74US$1.81n/a7
Jan ’25US$2.48
US$2.72
+9.67%
22.87%US$3.62US$1.81US$2.137
Dec ’24US$2.61
US$2.72
+4.05%
22.87%US$3.62US$1.81US$2.217
Nov ’24US$1.59
US$2.60
+63.50%
25.78%US$3.75US$1.80n/a7
Oct ’24n/a
US$2.62
0%
25.25%US$3.75US$1.85US$1.947
Sep ’24US$1.44
US$2.62
+81.96%
25.25%US$3.75US$1.85n/a7
Aug ’24n/a
US$2.66
0%
26.61%US$3.74US$1.89n/a7
Jul ’24n/a
US$2.95
0%
34.00%US$4.82US$1.86US$3.257
AnalystConsensusTarget
Consensus Narrative from 6 Analysts
US$3.39
Fair Value
43.9% undervalued intrinsic discount
6
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/07/28 18:52
End of Day Share Price 2025/07/15 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

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

Thinkific Labs Inc. is covered by 6 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Martin TonerATB Capital Markets
Thanos MoschopoulosBMO Capital Markets Equity Research
Robert YoungCanaccord Genuity