RE: Align21 Jul 2021 16:54
"Despite the lack of commercial pipeline figures, Powerhouse’s enterprise value of £137.4 million compares with EQTEC’s current EV of £82.24 million. We continue to believe that this valuation difference is completely unjustified given EQTEC’s larger and more advanced pipeline and commercial progress."
"ITM recently announced a trading update for the end of April 2021, reporting work in progress of £35.4 million, contracts backlog of £154 million and tender pipeline of £607 million. Total revenues for the year are expected to be just £4 million. ITM’s pipeline has increased substantially of late and at £607 million compares to EQTEC’s last announced total potential pipeline value of €657 million (c.£564 million). But despite ITM’s pipeline being only c.8% higher than EQTEC’s the company currently commands a market cap and enterprise value both over 20 times higher. In addition, we note that ITM remains loss making, yet EQTEC is expecting to turn a maiden profit this financial year."
Absolute truth spoken in that research note. When people finally wake up to what this company is about to achieve we're heading for 10p-20p, by end of 2022 IMO.
ITM Market Cap: 2.18B
ITM Pipeline: £607 million
EQTEC Market cap: 103.51M
EQTEC Pipeline: £564 million
This year: ITM to make a loss. EQTEC to make a profit. Unbelievable.
I agree with Align in that we are likely to see 3.5-4.5p by year end, assuming deals/closures go through.
But if we are to be judged equally to ITM, that's a 24p share price.