MODEL VERDICT
Metalpha Technology Holding Limited (MATH)
Relative Valuation•Peer multiples, competitive benchmarking & quality-adjusted fair value
Metalpha Technology Holding Limited is currently trading at a 354.07% discount to its peer-implied fair value.
5 curated peers matched by core operations and segment-adjacent attributes
1 valuation metric · peer-median based
| Multiple | Current | Peer Median | vs Peers | Implied Price |
|---|---|---|---|---|
| EV/EBITDAEnterprise value versus operating cash earnings proxy. | 2.08x | 9.07x | Discount -77.1% | $4.35 |
How the model derives the final fair value from peer baselines and quality metrics
Opportunity: The stock is trading at a 77.9% discount to its quality-adjusted fair value of $4.52. To reach its estimated fair value, the stock would need to appreciate by 352.4% from its current price of $1.00.
Quality metrics are broadly comparable to peers.
Quality adjustments are capped at ±15% (up to ±20% for financial services) to prevent runaway premiums. Based on trailing twelve months and multi-year CAGR data where available.
How current multiples rank vs 3 years of the stock’s own history
| Multiple | Current | Historical Median | Percentile | Status |
|---|---|---|---|---|
| P/E2 years of data | 2.43x | 104.03x | 0th | Below historical norm |
| EV/EBITDA3 years of data | 2.08x | 35.52x | 0th | Below historical norm |
| P/FCF1 years of data | 1557.19x | 21.98x | 100th | Above historical norm |
Metalpha Technology Holding Limited currently trades near the lowest valuation levels observed during the last 3 years.
Model-identified caveats to consider
MATH has a limited relative valuation using curated peers; based mainly on EV/EBITDA, it looks cheap versus peers.
Answers to common questions about MATH's relative valuation and our methodology.
Metalpha Technology Holding Limited's fair value of $4.53 is the price at which the stock would trade if valued at the same multiples as its 5-company peer group, adjusted for differences in business quality. At $1.00, the stock trades at a +353% discount to fair value. This is a reference point, not a price target.
A core set of peers matched by business model was augmented with segment-adjacent companies sharing key business attributes, bringing the total to 5 clean peers. Only companies with usable financial data are included.
Metalpha Technology Holding Limited has strengths in 3y revenue growth, roic, and challenges in net debt / ebitda, and a quality score that justifies a 4% premium relative to its peer group. The Quality Adjustment section breaks down each driver.
No. This page provides an automated quantitative comparison of Metalpha Technology Holding Limited against its peers. It is not investment advice, a recommendation, or a solicitation. Valuation is only one factor in an investment decision — it does not account for growth catalysts, management quality, regulatory risk, or your personal financial situation.
A 353% discount is substantial. Large discounts may signal that the market is overlooking value, but they can also reflect genuine business challenges or structural headwinds. Review the Risk Factors and Historical Context sections to assess whether the gap is justified.
Valuation data is refreshed weekly based on the latest financial filings, market prices, and analyst estimates. Metalpha Technology Holding Limited's fair value, peer multiples, and quality scores will shift over time as new earnings are reported and stock prices change.
Disclaimer: This page is for informational purposes only and does not constitute financial advice. Fair value estimates are model outputs under stated assumptions and should not be relied upon as the sole basis for any investment decision.