Weng Fine Art AG ( $WFA.DE ) is an art trading company from Germany. At € 25.40 / 2,750,000 sh out., it has a mcap. of ~€ 70m. It also has a 63.33% stake in its artXX AG (art e-commerce in Switzerland) subsidiary (the remaining shares were distributed to shareholders in 2020).

@artnet

Further, $WFA.DE holds 20.33% of online art auctioning platform @artnet ( $ART.DE, each WFA share holds ~0.42183 ART shares). So, we currently have ~€ 21.20 for $WFA.DE ex. $ART.DE.

FY2020, $WFA.DE had ~€10.4m (+41.1% YoY) in revenue and ~€ 5.3m (+9.3% YoY) in net profit.

So, the company $WFA.DE currently has:
Revenue p. Sh.: € 3.79
Earnings p. Sh.: € 1.93

Thus, incl. $ART.DE (FY2020):
P/S 6.7 & P/E 13.2

Ex. $ART.DE we have (FY2020):
P/S 5.6 & P/E 11.0

Now, add to that a possible IPO of artXX and this seems incredibly cheap.

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