ASSA ABLOY AB (publ)

DB:ALZC Stock Report

Market Cap: €31.5b

ASSA ABLOY Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: ALZC (€28.39) is trading below our estimate of fair value (€42.65)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ALZC. This is calculated by dividing ALZC's market cap by their current earnings.
What is ALZC's PE Ratio?
PE Ratio23.6x
EarningsSEK 15.33b
Market CapSEK 361.89b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ALZC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.9x
VIB3 Villeroy & Boch
14.2x43.5%€401.8m
DTG Daimler Truck Holding
8.7x12.9%€29.1b
RHM Rheinmetall
38.8x29.9%€26.6b
ENR Siemens Energy
33.8x22.1%€40.1b
ALZC ASSA ABLOY
23.6x9.8%€361.9b

Price-To-Earnings vs Peers: ALZC is good value based on its Price-To-Earnings Ratio (23.6x) compared to the peer average (23.9x).

Price to Earnings Ratio vs Industry

How does ALZC's PE Ratio compare vs other companies in the European Building Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
ALZC 23.6xIndustry Avg. 20.0xNo. of Companies12PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ALZC is expensive based on its Price-To-Earnings Ratio (23.6x) compared to the European Building industry average (20x).

Price to Earnings Ratio vs Fair Ratio

What is ALZC'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.

ALZC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.6x
Fair PE Ratio19.7x

Price-To-Earnings vs Fair Ratio: ALZC is expensive based on its Price-To-Earnings Ratio (23.6x) compared to the estimated Fair Price-To-Earnings Ratio (19.7x).

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 ALZC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€28.39
€30.76
+8.4%
10.6%€35.03€25.21n/a20
Dec ’25€28.70
€30.06
+4.7%
10.6%€34.97€24.64n/a20
Nov ’25€28.68
€29.53
+2.9%
10.6%€34.78€24.51n/a20
Oct ’25€30.06
€29.65
-1.4%
9.6%€34.40€24.50n/a20
Sep ’25€28.85
€28.82
-0.1%
8.2%€32.40€24.32n/a19
Aug ’25€27.01
€28.27
+4.7%
8.3%€31.81€23.88n/a19
Jul ’25€26.36
€29.09
+10.4%
8.5%€33.18€24.46n/a20
Jun ’25€26.60
€27.89
+4.8%
9.7%€32.37€23.87n/a19
May ’25€25.39
€27.26
+7.4%
9.7%€30.91€23.55n/a18
Apr ’25€26.80
€26.94
+0.5%
10.7%€31.26€22.95n/a19
Mar ’25€26.40
€27.04
+2.4%
9.4%€31.90€22.60n/a20
Feb ’25€25.38
€26.51
+4.4%
10.9%€31.91€21.28n/a19
Jan ’25€26.14
€25.63
-1.9%
11.1%€30.49€20.18n/a18
Dec ’24€23.77
€24.79
+4.3%
11.1%€29.76€19.69€28.7018
Nov ’24€20.27
€23.77
+17.3%
10.5%€27.73€19.08€28.6818
Oct ’24€20.75
€24.38
+17.5%
9.7%€28.57€19.91€30.0620
Sep ’24€20.75
€24.15
+16.4%
10.4%€28.32€18.88€28.8521
Aug ’24€21.89
€24.37
+11.3%
10.4%€28.58€19.05€27.0121
Jul ’24€21.60
€23.50
+8.8%
10.6%€28.47€18.70€26.3622
Jun ’24€20.91
€23.42
+12.0%
10.4%€28.02€18.97€26.6022
May ’24€21.39
€24.07
+12.5%
10.1%€28.65€19.39€25.3922
Apr ’24€21.90
€24.69
+12.8%
8.4%€28.60€20.55€26.8021
Mar ’24€22.84
€24.84
+8.8%
7.7%€28.76€22.47€26.4021
Feb ’24€21.59
€23.78
+10.1%
6.8%€27.08€21.52€25.3821
Jan ’24€20.33
€23.80
+17.1%
7.1%€27.22€20.69€26.1423
Dec ’23€21.93
€23.90
+9.0%
7.5%€27.43€20.84€23.7723

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 08:07
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

ASSA ABLOY AB (publ) is covered by 53 analysts. 20 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Anders IdborgABG Sundal Collier
George FeatherstoneBarclays
Allan SmylieBarclays