Elekta AB (publ)

DB:EJXB Stock Report

Market Cap: €2.1b

Elekta Valuation

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

Below Fair Value: EJXB (€5.42) is trading below our estimate of fair value (€10.89)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for EJXB. This is calculated by dividing EJXB's market cap by their current earnings.
What is EJXB's PE Ratio?
PE Ratio21.3x
EarningsSEK 1.13b
Market CapSEK 24.13b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for EJXB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.7x
AFX Carl Zeiss Meditec
25.3x16.3%€5.1b
EUZ Eckert & Ziegler
25x5.9%€897.2m
DRW3 Drägerwerk KGaA
7.2x2.0%€792.0m
SBS Stratec
33.4x25.4%€334.9m
EJXB Elekta
21.3x17.9%€24.1b

Price-To-Earnings vs Peers: EJXB is good value based on its Price-To-Earnings Ratio (21.3x) compared to the peer average (22.7x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EJXB 21.3xIndustry Avg. 29.7xNo. of Companies9PE01632486480+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EJXB is good value based on its Price-To-Earnings Ratio (21.3x) compared to the European Medical Equipment industry average (29.7x).

Price to Earnings Ratio vs Fair Ratio

What is EJXB'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.

EJXB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.3x
Fair PE Ratio24.5x

Price-To-Earnings vs Fair Ratio: EJXB is good value based on its Price-To-Earnings Ratio (21.3x) compared to the estimated Fair Price-To-Earnings Ratio (24.5x).

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 EJXB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€5.42
€6.53
+20.6%
24.0%€10.98€4.93n/a14
Nov ’25€5.40
€6.59
+22.0%
23.6%€10.96€4.92n/a14
Oct ’25€6.31
€6.69
+6.1%
23.8%€11.15€5.01n/a14
Sep ’25€6.05
€6.77
+11.9%
24.7%€11.21€5.03n/a13
Aug ’25€5.61
€6.51
+16.0%
24.9%€10.83€4.86n/a13
Jul ’25€5.79
€6.79
+17.3%
24.7%€11.29€5.07n/a13
Jun ’25€7.40
€7.30
-1.4%
24.4%€11.02€4.95n/a12
May ’25€6.54
€7.25
+10.9%
24.5%€11.04€4.95n/a12
Apr ’25€6.86
€7.68
+12.0%
23.7%€11.35€5.09n/a12
Mar ’25€6.84
€7.72
+12.8%
23.4%€11.36€5.10n/a12
Feb ’25€6.87
€7.63
+11.1%
23.4%€11.17€5.02n/a12
Jan ’25€7.30
€7.50
+2.8%
23.3%€11.24€5.05n/a11
Dec ’24€7.06
€7.53
+6.6%
23.7%€11.26€5.05n/a11
Nov ’24€6.31
€7.05
+11.8%
26.2%€10.93€4.56€5.4011
Oct ’24€6.28
€7.01
+11.6%
26.6%€10.69€4.46€6.3110
Sep ’24€6.37
€7.01
+10.1%
26.6%€10.69€4.46€6.0510
Aug ’24€7.17
€7.20
+0.4%
26.2%€10.99€4.93€5.6110
Jul ’24€6.94
€7.36
+6.1%
26.0%€10.94€4.91€5.7910
Jun ’24€6.87
€7.19
+4.6%
25.5%€10.95€4.91€7.4010
May ’24€7.46
€7.19
-3.7%
28.3%€11.24€5.04€6.5410
Apr ’24€6.88
€7.19
+4.4%
28.3%€11.24€5.04€6.8610
Mar ’24€7.26
€7.07
-2.6%
28.7%€11.52€5.17€6.849
Feb ’24€6.60
€6.48
-1.9%
31.5%€11.17€4.57€6.879
Jan ’24€5.66
€6.47
+14.3%
31.8%€11.66€4.77€7.309
Dec ’23€5.67
€6.71
+18.4%
32.5%€11.72€4.80€7.068
Nov ’23€5.08
€6.96
+37.0%
29.6%€11.62€5.03€6.318

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

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