Company Valuation: SmartKem, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2022 2023 2024 2025
Market Cap 1 16.19 5.036 10.33 6.534
Change - -68.89% 105.12% -36.75%
Enterprise Value (EV) 1 12.4 -3.551 3.261 7.671
Change - -128.64% 191.85% 135.21%
P/E -1.51x -0.9x -0.48x -0.83x
PBR 2.75x 0.63x 1.58x -1.85x
PEG 0x 0x 0.09x 0x
Capitalization / Revenue 405x 187x 126x 9.37x
EV / Revenue 310x -132x 39.8x 11x
EV / EBITDA -1.31x 0.36x -0.32x -0.6x
EV / EBIT -1.28x 0.36x -0.31x -0.59x
EV / FCF -2.31x 0.85x -0.83x -2.67x
FCF Yield -43.2% 117% -120% -37.5%
Dividend per Share 2 - - - -
Rate of return - - - -
EPS 2 -697 -316 -299.9 -64.5
Distribution rate - - - -
Net sales 1 0.04 0.027 0.082 0.697
EBITDA 1 -9.5 -9.759 -10.13 -12.8
EBIT 1 -9.698 -9.904 -10.39 -13.01
Net income 1 -11.5 -8.499 -10.33 -10.51
Net Debt 1 -3.79 -8.587 -7.069 1.137
Reference price 2 1,050.001 285.000 145.000 53.250
Nbr of stocks (in thousands) 15.4 17.7 71.2 123
Announcement Date 3/30/23 3/27/24 3/31/25 4/8/26
1USD in Million2USD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 927K
22.53x12.79x19.39x0.34% 5,423B
23.01x11.3x15.32x1.09% 2,016B
38x16.02x23.53x0.74% 1,672B
14.81x9.05x10.91x0.05% 1,220B
110.08x19.95x75.8x-.--% 1,027B
5.27x3.41x4.12x0.19% 991B
-55.19x10.97x30.54x-.--% 669B
242.99x53.38x108.72x-.--% 327B
Average 50.19x 17.11x 36.04x 0.3% 1,483B
Weighted average by Cap. 30.80x 13.39x 24.47x 0.41%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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