SSAB AB (publ)

DB:SKWA Stock Report

Market Cap: €3.9b

SSAB Valuation

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

Below Fair Value: SKWA (€4) is trading below our estimate of fair value (€4.35)

Significantly Below Fair Value: SKWA is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SKWA. This is calculated by dividing SKWA's market cap by their current earnings.
What is SKWA's PE Ratio?
PE Ratio5.8x
EarningsSEK 7.94b
Market CapSEK 45.03b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SKWA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.3x
EIS Eisen- und Hüttenwerke
19.3xn/a€213.0m
NDA Aurubis
8.3x-5.3%€3.5b
FPE3 Fuchs
18.1x8.6%€4.8b
WCH Wacker Chemie
27.5x36.4%€3.4b
SKWA SSAB
5.8x-0.2%€45.0b

Price-To-Earnings vs Peers: SKWA is good value based on its Price-To-Earnings Ratio (5.8x) compared to the peer average (18.3x).

Price to Earnings Ratio vs Industry

How does SKWA's PE Ratio compare vs other companies in the European Metals and Mining Industry?

14 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SKWA 5.8xIndustry Avg. 11.7xNo. of Companies14PE0816243240+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SKWA is good value based on its Price-To-Earnings Ratio (5.8x) compared to the European Metals and Mining industry average (11.8x).

Price to Earnings Ratio vs Fair Ratio

What is SKWA'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.

SKWA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.8x
Fair PE Ratio12.7x

Price-To-Earnings vs Fair Ratio: SKWA is good value based on its Price-To-Earnings Ratio (5.8x) compared to the estimated Fair Price-To-Earnings Ratio (12.7x).

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 SKWA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.00
€5.23
+30.7%
12.6%€6.42€4.28n/a13
Dec ’25€4.40
€5.27
+19.8%
13.1%€6.37€4.25n/a13
Nov ’25€4.39
€5.39
+22.8%
15.4%€7.12€4.43n/a13
Oct ’25€4.66
€6.11
+31.0%
14.3%€7.52€4.95n/a13
Sep ’25€4.45
€6.14
+38.2%
12.4%€7.47€5.01n/a14
Aug ’25€4.80
€6.16
+28.5%
17.3%€8.94€4.85n/a14
Jul ’25€5.18
€6.81
+31.5%
18.0%€9.30€5.05n/a14
Jun ’25€5.38
€6.91
+28.4%
18.8%€8.98€4.96n/a14
May ’25€5.48
€6.97
+27.2%
18.4%€8.99€4.97n/a14
Apr ’25€7.05
€7.83
+11.1%
20.6%€11.31€4.78n/a14
Mar ’25€7.17
€8.02
+11.9%
20.3%€11.56€4.89n/a14
Feb ’25€7.16
€7.95
+11.1%
19.2%€10.62€4.87n/a14
Jan ’25€7.02
€7.45
+6.1%
23.7%€10.65€4.88n/a13
Dec ’24€7.10
€7.33
+3.3%
23.8%€10.57€4.84€4.4013
Nov ’24€5.61
€6.88
+22.6%
20.8%€8.90€4.66€4.3913
Oct ’24€5.21
€7.26
+39.4%
16.5%€9.11€5.42€4.6612
Sep ’24€5.25
€7.26
+38.1%
17.4%€9.27€5.48€4.4512
Aug ’24€5.63
€7.57
+34.6%
18.4%€9.93€5.62€4.8012
Jul ’24€6.49
€7.73
+19.1%
19.6%€9.93€5.14€5.1812
Jun ’24€6.10
€7.89
+29.3%
19.8%€10.16€5.30€5.3812
May ’24€6.46
€7.57
+17.2%
18.5%€9.87€5.29€5.4812
Apr ’24€6.74
€7.10
+5.4%
18.3%€9.73€4.87€7.0512
Mar ’24€6.98
€6.54
-6.3%
25.8%€9.89€2.97€7.1712
Feb ’24€6.55
€6.35
-3.0%
25.3%€9.67€2.90€7.1612
Jan ’24€5.13
€6.26
+21.9%
23.4%€9.50€3.35€7.0214
Dec ’23€5.49
€6.45
+17.5%
22.6%€9.67€3.32€7.1014

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 Analysis2024/12/18 13:00
End of Day Share Price 2024/12/18 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

SSAB AB (publ) is covered by 46 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Olof GrenmarkABG Sundal Collier
Tom ZhangBarclays
Alessandro AbateBerenberg