CellaVision AB (publ)

OM:CEVI Stock Report

Market Cap: SEK 4.5b

CellaVision Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • 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 CEVI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
SEK 262.26
Fair Value
28.8% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: CEVI (SEK186.6) is trading below our estimate of fair value (SEK262.26)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for CEVI. This is calculated by dividing CEVI's market cap by their current earnings.
What is CEVI's PE Ratio?
PE Ratio29.3x
EarningsSEK 152.12m
Market CapSEK 4.49b

Price to Earnings Ratio vs Peers

How does CEVI's PE Ratio compare to its peers?

The above table shows the PE ratio for CEVI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average56.4x
SUS Surgical Science Sweden
53.3x32.30%SEK 7.5b
ARJO B Arjo
19.1x20.70%SEK 8.7b
EKTA B Elekta
77.3x28.25%SEK 18.1b
PAX Paxman
76x69.73%SEK 1.6b
CEVI CellaVision
29.3x13.79%SEK 4.5b

Price-To-Earnings vs Peers: CEVI is good value based on its Price-To-Earnings Ratio (29.3x) compared to the peer average (56.4x).

Price to Earnings Ratio vs Industry

How does CEVI's PE Ratio compare vs other companies in the European Medical Equipment Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CEVI 29.3xIndustry Avg. 30.5xNo. of Companies9PE020406080100+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CEVI is good value based on its Price-To-Earnings Ratio (29.3x) compared to the European Medical Equipment industry average (30.5x).

Price to Earnings Ratio vs Fair Ratio

What is CEVI'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.

CEVI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29.3x
Fair PE Ratio22.3x

Price-To-Earnings vs Fair Ratio: CEVI is expensive based on its Price-To-Earnings Ratio (29.3x) compared to the estimated Fair Price-To-Earnings Ratio (22.3x).

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 CEVI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 186.60
SEK 230.00
+23.26%
8.13%SEK 250.00SEK 200.00n/a4
Jun ’26SEK 194.40
SEK 230.00
+18.31%
8.13%SEK 250.00SEK 200.00n/a4
May ’26SEK 202.00
SEK 232.00
+14.85%
4.76%SEK 250.00SEK 220.00n/a4
Apr ’26SEK 170.20
SEK 232.50
+36.60%
6.36%SEK 250.00SEK 210.00n/a4
Mar ’26SEK 176.60
SEK 242.50
+37.32%
7.92%SEK 270.00SEK 220.00n/a4
Feb ’26SEK 226.50
SEK 261.25
+15.34%
7.93%SEK 290.00SEK 235.00n/a4
Jan ’26SEK 217.50
SEK 270.00
+24.14%
6.93%SEK 300.00SEK 250.00n/a4
Dec ’25SEK 218.50
SEK 270.00
+23.57%
6.93%SEK 300.00SEK 250.00n/a4
Nov ’25SEK 231.00
SEK 262.50
+13.64%
8.68%SEK 300.00SEK 240.00n/a4
Oct ’25SEK 294.50
SEK 260.50
-11.54%
11.06%SEK 310.00SEK 240.00n/a4
Sep ’25SEK 263.50
SEK 256.75
-2.56%
8.72%SEK 295.00SEK 240.00n/a4
Aug ’25SEK 250.00
SEK 255.50
+2.20%
9.16%SEK 295.00SEK 235.00n/a4
Jul ’25SEK 247.50
SEK 256.25
+3.54%
9.99%SEK 300.00SEK 235.00n/a4
Jun ’25SEK 262.00
SEK 257.50
-1.72%
9.56%SEK 300.00SEK 240.00SEK 194.404
May ’25SEK 225.50
SEK 257.50
+14.19%
9.56%SEK 300.00SEK 240.00SEK 202.004
Apr ’25SEK 239.00
SEK 256.25
+7.22%
9.89%SEK 300.00SEK 240.00SEK 170.204
Mar ’25SEK 256.00
SEK 256.25
+0.098%
9.89%SEK 300.00SEK 240.00SEK 176.604
Feb ’25SEK 206.50
SEK 204.25
-1.09%
12.33%SEK 230.00SEK 165.00SEK 226.504
Jan ’25SEK 212.00
SEK 191.75
-9.55%
11.18%SEK 222.00SEK 165.00SEK 217.504
Dec ’24SEK 176.40
SEK 191.75
+8.70%
11.18%SEK 222.00SEK 165.00SEK 218.504
Nov ’24SEK 139.80
SEK 200.50
+43.42%
7.41%SEK 222.00SEK 180.00SEK 231.004
Oct ’24SEK 153.60
SEK 220.00
+43.23%
8.50%SEK 250.00SEK 200.00SEK 294.504
Sep ’24SEK 198.00
SEK 220.00
+11.11%
8.50%SEK 250.00SEK 200.00SEK 263.504
Aug ’24SEK 218.50
SEK 220.00
+0.69%
8.50%SEK 250.00SEK 200.00SEK 250.004
Jul ’24SEK 183.60
SEK 197.50
+7.57%
11.94%SEK 220.00SEK 165.00SEK 247.504
Jun ’24SEK 188.80
SEK 197.50
+4.61%
11.94%SEK 220.00SEK 165.00SEK 262.004
AnalystConsensusTarget
Consensus Narrative from 4 Analysts
SEK 230.00
Fair Value
18.9% undervalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/06/18 17:46
End of Day Share Price 2025/06/18 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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

CellaVision AB (publ) is covered by 12 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Sten GustafssonABG Sundal Collier
Bjorn RydellABG Sundal Collier Sponsored
Carl-Oscar BredengenBerenberg