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WeCommerce Holdings Valuation

Is WECM.F undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: WECM.F ($3.35) is trading below our estimate of fair value ($4.35)

Significantly Below Fair Value: WECM.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 WECM.F?

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

The above table shows the Price to Sales ratio for WECM.F. This is calculated by dividing WECM.F's market cap by their current revenue.
What is WECM.F's PS Ratio?
PS Ratio	3.9x
Sales	CA$48.47m
Market Cap	CA$184.77m

WECM.F 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	4.6x
Enterprise Value/EBITDA	53.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for WECM.F 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	1x
VERI Veritone	0.8x	-0.9%	US$105.4m
PRCH Porch Group	0.8x	6.7%	US$363.4m
XNET Xunlei	0.3x	n/a	US$119.8m
REKR Rekor Systems	2.2x	32.0%	US$89.6m
WECM.F WeCommerce Holdings	3.9x	17.3%	US$184.8m

Price-To-Sales vs Peers: WECM.F is expensive based on its Price-To-Sales Ratio (3.9x) compared to the peer average (1x).

Price to Sales Ratio vs Industry

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

76 Companies	Price / Sales	Estimated Growth	Market Cap
VYX NCR Voyix	0.6x	-23.2%	US$2.15b
PGY Pagaya Technologies	0.8x	15.8%	US$773.38m
XPER Xperi	0.8x	1.8%	US$418.27m
EGHT 8x8	0.6x	1.1%	US$415.50m

76 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: WECM.F is good value based on its Price-To-Sales Ratio (3.9x) compared to the US Software industry average (4.4x)

Price to Sales Ratio vs Fair Ratio

What is WECM.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.

WECM.F PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	3.9x
Fair PS Ratio	1.1x

Price-To-Sales vs Fair Ratio: WECM.F is expensive based on its Price-To-Sales Ratio (3.9x) compared to the estimated Fair Price-To-Sales Ratio (1.1x).

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 WECM.F forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Nov ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Oct ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Sep ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Aug ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Jul ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Jun ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
May ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Apr ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Mar ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Feb ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Jan ’25	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Dec ’24	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Nov ’24	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Oct ’24	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Sep ’24	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Aug ’24	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Jul ’24	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
Jun ’24	n/a	US$3.55 0%	2.6%	US$3.64	US$3.46	n/a	2
May ’24	US$3.58	US$3.55 -0.7%	2.6%	US$3.64	US$3.46	n/a	2
Apr ’24	US$3.19	US$3.55 +11.3%	2.6%	US$3.64	US$3.46	n/a	2
Mar ’24	US$3.48	US$2.25 -35.3%	8.3%	US$2.44	US$2.07	n/a	2
Feb ’24	US$3.80	US$2.25 -40.7%	8.3%	US$2.44	US$2.07	n/a	2
Jan ’24	US$1.49	US$2.26 +51.8%	8.3%	US$2.45	US$2.07	n/a	2
Dec ’23	US$1.51	US$2.26 +49.6%	8.3%	US$2.45	US$2.07	n/a	2
Nov ’23	US$1.64	US$3.24 +97.8%	37.1%	US$4.44	US$2.04	n/a	2

Analyst Forecast: Target price is less than 20% higher than the current share price.

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