Taking a breather from forward-leaning valuation
Nightingale has continued to lay the groundwork for future growth by announcing new research customers where we see the potential for greater commercial opportunities in the future. The news adds some visibility to our top-line growth projections and provides a rationale for a positive share price development. The main risk to growth remains the success in scaling up the won clinical accounts. Against this backdrop, we think the share valuation has become too forward-oriented (+76% since our March 8 report). We believe the risk/reward is unsatisfactory based on the current data and await further news from the company's customer base or a moderation in the valuation.
Nightingale Health
Nightingale Health operates in medical technology. The company specializes in the development of medical devices. The product portfolio is broad and includes platforms and services in blood tests that are used for disease prevention purposes. In addition to the main business, service and associated ancillary services are also offered. The business is run globally with the largest presence in Europe.
Read more on company pageKey Estimate Figures10.05
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 4.2 | 4.7 | 8.7 |
growth-% | 80.80 % | 12.78 % | 85.00 % |
EBIT (adj.) | -18.5 | -17.8 | -17.6 |
EBIT-% (adj.) | -442.95 % | -377.50 % | -201.86 % |
EPS (adj.) | -0.30 | -0.27 | -0.27 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | - | - | - |
EV/EBITDA | 0.77 | - | - |