Trelleborg AB (publ)

DB:TLLB Stock Report

Market Cap: €7.2b

Trelleborg Valuation

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

Below Fair Value: TLLB (€30.32) is trading below our estimate of fair value (€49.5)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TLLB. This is calculated by dividing TLLB's market cap by their current earnings.
What is TLLB's PE Ratio?
PE Ratio23.3x
EarningsSEK 3.58b
Market CapSEK 83.37b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TLLB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.8x
G1A GEA Group
19.1x8.3%€7.8b
RAA RATIONAL
43.3x6.9%€10.2b
KRN Krones
14.7x16.2%€3.7b
GIL DMG MORI
22.2xn/a€3.6b
TLLB Trelleborg
23.3x11.8%€83.4b

Price-To-Earnings vs Peers: TLLB is good value based on its Price-To-Earnings Ratio (23.3x) compared to the peer average (24.8x).

Price to Earnings Ratio vs Industry

How does TLLB's PE Ratio compare vs other companies in the DE Machinery Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
TLLB 23.3xIndustry Avg. 14.7xNo. of Companies6PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TLLB is expensive based on its Price-To-Earnings Ratio (23.3x) compared to the German Machinery industry average (14.7x).

Price to Earnings Ratio vs Fair Ratio

What is TLLB'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.

TLLB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.3x
Fair PE Ratio17.1x

Price-To-Earnings vs Fair Ratio: TLLB is expensive based on its Price-To-Earnings Ratio (23.3x) compared to the estimated Fair Price-To-Earnings Ratio (17.1x).

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 TLLB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€30.32
€34.98
+15.4%
5.1%€38.73€32.85n/a6
Nov ’25€30.22
€34.92
+15.6%
5.1%€38.66€32.79n/a6
Oct ’25€34.26
€37.47
+9.4%
4.4%€40.47€35.19n/a6
Sep ’25€34.94
€36.37
+4.1%
3.2%€37.95€34.42n/a6
Aug ’25€34.22
€36.37
+6.3%
3.2%€37.95€34.42n/a6
Jul ’25€36.32
€34.67
-4.5%
5.6%€37.73€31.59n/a6
Jun ’25€35.66
€33.06
-7.3%
5.8%€34.69€29.12n/a6
May ’25€33.32
€32.64
-2.1%
5.5%€34.19€29.06n/a6
Apr ’25€33.23
€30.52
-8.2%
5.2%€33.00€28.35n/a7
Mar ’25€33.44
€30.52
-8.7%
5.2%€33.00€28.35n/a7
Feb ’25€28.13
€30.55
+8.6%
4.9%€32.56€28.86n/a6
Jan ’25€30.43
€29.64
-2.6%
9.4%€33.52€25.37n/a7
Dec ’24€28.45
€27.41
-3.6%
7.6%€30.16€24.13n/a7
Nov ’24€23.70
€25.64
+8.2%
10.8%€28.82€20.34€30.227
Oct ’24€23.15
€25.33
+9.4%
11.4%€29.37€20.73€34.266
Sep ’24€23.30
€25.33
+8.7%
11.4%€29.37€20.73€34.946
Aug ’24€24.11
€25.33
+5.0%
11.4%€29.37€20.73€34.226
Jul ’24€22.88
€26.52
+15.9%
10.3%€29.98€22.93€36.325
Jun ’24€23.18
€26.52
+14.4%
10.3%€29.98€22.93€35.665
May ’24€23.30
€26.27
+12.7%
10.1%€29.99€22.94€33.325
Apr ’24€25.39
€26.13
+2.9%
6.7%€28.31€23.37€33.236
Mar ’24€25.07
€26.13
+4.2%
6.7%€28.31€23.37€33.446
Feb ’24€22.50
€25.39
+12.8%
6.8%€27.91€23.04€28.136
Jan ’24€22.26
€25.11
+12.8%
5.3%€27.61€23.65€30.436
Dec ’23€22.85
€24.75
+8.3%
5.5%€26.55€22.15€28.456
Nov ’23€21.92
€24.75
+12.9%
5.5%€26.55€22.15€23.706

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

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