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Is Bending Spoons (BSP) Fully Valued After Opening Its Madrid Office?

Simply Wall St · 3d ago

Bending Spoons (BSP) stock is drawing fresh attention after the company opened its third European office in Madrid, expanding its physical presence and recruitment reach across key technology hubs.

See our latest analysis for Bending Spoons.

Alongside the Madrid opening and the recent €1,490 million financing package, Bending Spoons has seen the share price at $44.45 after a 35.07% 30 day share price return and a 9.75% year to date share price return, suggesting momentum has recently picked up despite a 1 day share price return that declined 1.55%.

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With Bending Spoons stock near $44 and fresh capital and hiring plans now in play, some investors may lean toward getting in early, while others wait for a cooler entry. How does the current valuation compare with that choice?

Preferred Price-to-Sales of 17.1x: Is It Justified for Bending Spoons?

Bending Spoons is currently estimated to be trading above the SWS DCF fair value of $32.32, with the stock last closing at $44.45. On top of that, the company is also screening as expensive on traditional valuation multiples compared with the broader US software sector.

The preferred valuation yardstick here is the price-to-sales (P/S) ratio. This compares the company’s market value to its annual revenue. For Bending Spoons, that figure stands at 17.1x, based on a market cap of about $28.24b and revenue of $1.65b. For a software group with a portfolio of platforms like Evernote, Eventbrite, Vimeo and AOL, the market often focuses on revenue scale and growth when judging what to pay for each dollar of sales.

According to the statements data, Bending Spoons’ P/S of 17.1x is described as expensive compared both with the US Software industry average of 3.7x and a peer average of 8.8x. That is a sizeable premium. It suggests investors are currently willing to pay more than four times the broader industry multiple and roughly double the peer group level for the company’s revenue base. With no P/S fair ratio available from the SWS regression work, there is no internal benchmark here that points to a level the market could gravitate toward over time, so readers are left to weigh the premium against the company’s own growth outlook and risk profile.

See what the numbers say about this price — find out in our valuation breakdown.

Result: Price-to-Sales of 17.1x (OVERVALUED)

However, Bending Spoons also faces concentration risk related to its portfolio brands and the possibility that slower revenue or profit growth could pressure that rich P/S premium.

Find out about the key risks to this Bending Spoons narrative.

Another View Using The SWS DCF Model

The first check on Bending Spoons focused on its P/S of 17.1x, which screens as expensive versus both industry and peers. Our DCF model also points to a demanding set up, with an estimated future cash flow value of $32.32 compared with the current $44.45 share price. That gap suggests limited margin for error if expectations change.

Look into how the SWS DCF model arrives at its fair value.

BSP Discounted Cash Flow as at Aug 2026
BSP Discounted Cash Flow as at Aug 2026

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Bending Spoons for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 52 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Next Steps

Given the mixed signals around Bending Spoons, with both risks and potential rewards in view, it makes sense to review the underlying data yourself and decide quickly what it all adds up to for your portfolio. To help frame that judgment, check the 2 key rewards and 3 important warning signs.

Looking for more investment ideas beyond Bending Spoons?

If Bending Spoons has sharpened your focus on quality and risk, do not stop here. Use the Simply Wall St screener tools to pressure test your next moves.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.