Storytel Valuation

Q: What is the Fair Price of STORY B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

STORY B (SEK102.4) is trading below our estimate of [[fair value]] (SEK213.22)

Is STORY B undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of STORY B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow

Simply Wall St

SEK 213.16

Fair Value

52.0% undervalued

Number of Analysts

Below Fair Value: STORY B (SEK102.4) is trading below our estimate of fair value (SEK213.22)

Significantly Below Fair Value: STORY B is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for STORY B?

Key metric: As STORY B is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for STORY B. This is calculated by dividing STORY B's market cap by their current earnings.
What is STORY B's PE Ratio?
PE Ratio	40.2x
Earnings	SEK 196.71m
Market Cap	SEK 7.96b

STORY B key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.1x
Enterprise Value/EBITDA	18.2x
PEG Ratio	1.2x

Price to Earnings Ratio vs Peers

How does STORY B's PE Ratio compare to its peers?

The above table shows the PE ratio for STORY B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	37.1x
BETCO Better Collective	19.9x	23.5%	SEK 7.4b
PDX Paradox Interactive	33.9x	22.0%	SEK 19.7b
ACAST Acast	32.6x	-24.9%	SEK 2.5b
HEM Hemnet Group	61.8x	23.7%	SEK 31.9b
STORY B Storytel	40.2x	33.3%	SEK 8.0b

Price-To-Earnings vs Peers: STORY B is expensive based on its Price-To-Earnings Ratio (40.2x) compared to the peer average (37.1x).

Price to Earnings Ratio vs Industry

How does STORY B's PE Ratio compare vs other companies in the European Media Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: STORY B is expensive based on its Price-To-Earnings Ratio (40.2x) compared to the European Media industry average (14.4x).

Price to Earnings Ratio vs Fair Ratio

What is STORY B's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

STORY B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	40.2x
Fair PE Ratio	34.2x

Price-To-Earnings vs Fair Ratio: STORY B is expensive based on its Price-To-Earnings Ratio (40.2x) compared to the estimated Fair Price-To-Earnings Ratio (34.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst STORY B forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	SEK 102.40	SEK 110.50 +7.9%	13.1%	SEK 125.00	SEK 96.00	n/a	2
Apr ’26	SEK 96.45	SEK 110.50 +14.6%	13.1%	SEK 125.00	SEK 96.00	n/a	2
Mar ’26	SEK 93.30	SEK 110.50 +18.4%	13.1%	SEK 125.00	SEK 96.00	n/a	2
Feb ’26	SEK 79.95	SEK 95.50 +19.4%	15.2%	SEK 110.00	SEK 81.00	n/a	2
Jan ’26	SEK 68.80	SEK 95.00 +38.1%	15.8%	SEK 110.00	SEK 80.00	n/a	2
Dec ’25	SEK 60.50	SEK 95.00 +57.0%	15.8%	SEK 110.00	SEK 80.00	n/a	2
Nov ’25	SEK 66.30	SEK 95.00 +43.3%	15.8%	SEK 110.00	SEK 80.00	n/a	2
Oct ’25	SEK 52.80	SEK 89.00 +68.6%	12.4%	SEK 100.00	SEK 78.00	n/a	2
Sep ’25	SEK 51.05	SEK 87.50 +71.4%	8.6%	SEK 95.00	SEK 80.00	n/a	2
Aug ’25	SEK 61.90	SEK 87.50 +41.4%	8.6%	SEK 95.00	SEK 80.00	n/a	2
Jul ’25	SEK 54.65	SEK 73.33 +34.2%	28.6%	SEK 95.00	SEK 45.00	n/a	3
Jun ’25	SEK 54.00	SEK 73.67 +36.4%	28.6%	SEK 95.00	SEK 45.00	n/a	3
May ’25	SEK 50.50	SEK 71.67 +41.9%	28.7%	SEK 95.00	SEK 45.00	n/a	3
Apr ’25	SEK 52.00	SEK 71.67 +37.8%	28.7%	SEK 95.00	SEK 45.00	SEK 96.45	3
Mar ’25	SEK 58.50	SEK 71.67 +22.5%	28.7%	SEK 95.00	SEK 45.00	SEK 93.30	3
Feb ’25	SEK 45.84	SEK 66.00 +44.0%	24.8%	SEK 85.00	SEK 45.00	SEK 79.95	3
Jan ’25	SEK 40.26	SEK 66.00 +63.9%	24.8%	SEK 85.00	SEK 45.00	SEK 68.80	3
Dec ’24	SEK 37.86	SEK 66.00 +74.3%	24.8%	SEK 85.00	SEK 45.00	SEK 60.50	3
Nov ’24	SEK 32.80	SEK 66.00 +101.2%	24.8%	SEK 85.00	SEK 45.00	SEK 66.30	3
Oct ’24	SEK 30.06	SEK 66.33 +120.7%	23.0%	SEK 80.00	SEK 45.00	SEK 52.80	3
Sep ’24	SEK 32.94	SEK 66.33 +101.4%	23.0%	SEK 80.00	SEK 45.00	SEK 51.05	3
Aug ’24	SEK 38.60	SEK 69.67 +80.5%	21.0%	SEK 85.00	SEK 50.00	SEK 61.90	3
Jul ’24	SEK 33.30	SEK 69.67 +109.2%	21.0%	SEK 85.00	SEK 50.00	SEK 54.65	3
Jun ’24	SEK 35.72	SEK 69.00 +93.2%	20.9%	SEK 85.00	SEK 50.00	SEK 54.00	3
May ’24	SEK 39.22	SEK 73.33 +87.0%	17.9%	SEK 85.00	SEK 55.00	SEK 50.50	3
Apr ’24	SEK 35.51	SEK 80.67 +127.2%	24.1%	SEK 102.00	SEK 55.00	SEK 52.00	3

AnalystConsensusTarget

Consensus Narrative from 2 Analysts

SEK 110.50

Fair Value

7.3% undervalued

Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/04/28 17:45
End of Day Share Price	2025/04/28 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Storytel AB (publ) is covered by 5 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Oscar Erixon	Carnegie Investment Bank AB
Joachim Gunell	DNB Markets