Modern Times Group MTG AB

DB:MRTA Stock Report

Market Cap: €1.4b

Modern Times Group MTG Valuation

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

Valuation Score

6/6

Valuation Score 6/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of MRTA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: MRTA (€11.51) is trading below our estimate of future cash flow value (€29.56)

Significantly Below Future Cash Flow Value: MRTA is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

Key metric: As MRTA is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for MRTA. This is calculated by dividing MRTA's market cap by their current revenue.
What is MRTA's PS Ratio?
PS Ratio1.2x
SalesSEK 12.18b
Market CapSEK 14.77b

Price to Sales Ratio vs Peers

How does MRTA's PS Ratio compare to its peers?

The above table shows the PS ratio for MRTA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.4x
8WP Beyond Frames Entertainment
0.2x7.52%€46.6m
EVD CTS Eventim KGaA
1.5x4.13%€4.9b
SAX Ströer SE KGaA
0.9x5.01%€1.9b
WBAH Wild Bunch
7xn/a€483.6m
MRTA Modern Times Group MTG
1.2x3.78%€14.8b

Price-To-Sales vs Peers: MRTA is good value based on its Price-To-Sales Ratio (1.2x) compared to the peer average (2.4x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does MRTA's PS Ratio compare vs other companies in the European Entertainment Industry?

39 CompaniesPrice / SalesEstimated GrowthMarket Cap
MRTA 1.2xIndustry Avg. 1.6xNo. of Companies39PS01.63.24.86.48+
39 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: MRTA is good value based on its Price-To-Sales Ratio (1.2x) compared to the European Entertainment industry average (1.6x).

Price to Sales Ratio vs Fair Ratio

What is MRTA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MRTA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.2x
Fair PS Ratio1.7x

Price-To-Sales vs Fair Ratio: MRTA is good value based on its Price-To-Sales Ratio (1.2x) compared to the estimated Fair Price-To-Sales Ratio (1.7x).

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 MRTA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€11.51
€15.36
+33.49%
9.83%€17.56€13.40n/a4
Jun ’27€12.23
€15.36
+25.63%
9.83%€17.56€13.40n/a4
May ’27€11.38
€13.91
+22.23%
7.39%€15.69€13.20n/a4
Apr ’27€8.44
€14.12
+67.34%
8.05%€15.73€13.23n/a3
Mar ’27€8.19
€14.44
+76.46%
8.05%€16.08€13.53n/a3
Feb ’27€9.90
€13.97
+41.18%
8.84%€16.02€12.72n/a4
Jan ’27€10.42
€14.16
+35.93%
14.47%€17.02€12.28n/a3
Dec ’26€10.97
€14.16
+29.12%
14.47%€17.02€12.28n/a3
Nov ’26€11.65
€12.54
+7.60%
3.41%€13.14€12.23n/a3
Oct ’26€9.93
€11.81
+18.98%
3.58%€12.11€11.22n/a3
Sep ’26€8.82
€11.81
+33.95%
3.58%€12.11€11.22n/a3
Aug ’26€8.93
€11.75
+31.68%
3.58%€12.05€11.16n/a3
Jul ’26€10.70
€12.37
+15.61%
3.15%€12.60€11.70n/a4
Jun ’26€9.82
€12.66
+28.89%
3.56%€13.09€11.90€12.234
May ’26€9.62
€12.90
+34.11%
6.28%€14.08€11.81€11.384
Apr ’26€10.48
€13.44
+28.21%
2.74%€13.77€12.88€8.444
Mar ’26€11.08
€13.44
+21.27%
2.74%€13.77€12.88€8.194
Feb ’26€8.82
€11.94
+35.51%
9.64%€13.51€10.29€9.904
Jan ’26€8.24
€10.82
+31.31%
13.96%€13.33€9.03€10.425
Dec ’25€7.89
€10.82
+37.22%
13.96%€13.33€9.03€10.975
Nov ’25€6.45
€10.45
+62.08%
15.45%€13.52€8.89€11.655
Oct ’25€6.89
€10.70
+55.30%
14.62%€13.66€9.17€9.935
Sep ’25€6.66
€10.46
+57.03%
13.93%€13.27€9.24€8.825
Aug ’25€6.99
€10.46
+49.72%
13.93%€13.27€9.24€8.935
Jul ’25€7.51
€10.57
+40.76%
7.43%€11.89€9.69€10.705
Jun ’25€8.06
€10.17
+26.21%
9.54%€11.56€8.56€9.825
€15.49
Fair Value
25.7% 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 Analysis2026/06/09 18:33
End of Day Share Price 2026/06/09 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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

Modern Times Group MTG AB is covered by 18 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Natasha BrilliantBarclays
JULIEN ROCHBarclays