Company Valuation: Stem Holdings, Inc.

Data adjusted to current consolidation scope
Fiscal Period: September 2018 2019 2020 2021 2022 2023
Market Cap 1 21.92 40.03 21.1 59.58 4.865 4.797
Change - 82.66% -47.29% 182.34% -91.84% -1.38%
Enterprise Value (EV) 1 26.7 42.67 32.25 65.06 14.36 6.061
Change - 59.82% -24.41% 101.72% -77.93% -57.79%
P/E -2.36x -0.89x -2.19x -0.64x -0.28x -0.23x
PBR 2.49x 1.73x 1.09x 1.83x 0.31x -2.8x
PEG - 0.17x 0x -0x 0x 0.11x
Capitalization / Revenue 16.9x 16.3x 1.51x 1.67x 0.29x -
EV / Revenue 20.6x 17.4x 2.31x 1.82x 0.87x -
EV / EBITDA -4.31x -2.34x -4.42x -6.52x -1.46x -3.11x
EV / EBIT -3.94x -2.27x -3.34x -4.23x -1.16x -1.62x
EV / FCF -5.9x -17.4x -12,901x 280x -8.9x 0.42x
FCF Yield -17% -5.74% -0.01% 0.36% -11.2% 236%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -94.64 -89.54 -18.29 -40.4 -7.679 -7.512
Distribution rate - - - - - -
Net sales 1 1.296 2.451 13.97 35.77 16.56 -
EBITDA 1 -6.196 -18.24 -7.3 -9.984 -9.865 -1.947
EBIT 1 -6.776 -18.77 -9.666 -15.37 -12.36 -3.747
Net income 1 -7.86 -25.29 -11 -64.36 -17.37 -19.02
Net Debt 1 4.784 2.641 11.15 5.484 9.495 1.264
Reference price 2 223.000000 80.000000 40.000000 25.890000 2.150000 1.710000
Nbr of stocks (in thousands) 98.3 500 528 2,301 2,263 2,805
Announcement Date 1/14/19 3/2/20 12/28/20 1/13/22 1/13/23 5/24/24
1USD in Million2USD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 66
15.43x1.74x8.05x - 352M
1.79x - - - 146M
16.58x - - - 142M
-1.37x0.71x3.1x - 104M
Average 8.11x 1.23x 5.58x 148.74M
Weighted average by Cap. 10.63x 1.51x 6.92x

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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