Schibsted ASA

DB:XPG Stock Report

Market Cap: €7.0b

Schibsted Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: XPG (€31.52) is trading below our estimate of fair value (€32.97)

Significantly Below Fair Value: XPG 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 XPG?

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

The above table shows the Price to Earnings ratio for XPG. This is calculated by dividing XPG's market cap by their current earnings.
What is XPG's PE Ratio?
PE Ratio4.2x
EarningsNOK 20.28b
Market CapNOK 82.21b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for XPG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20x
BST Bastei Lübbe
12.1x0.1%€129.4m
RRTL RTL Group
9.3x-2.6%€3.7b
SAX Ströer SE KGaA
23.5x29.2%€2.7b
G24 Scout24
35.3x14.8%€6.2b
XPG Schibsted
4.2x-90.0%€82.2b

Price-To-Earnings vs Peers: XPG is good value based on its Price-To-Earnings Ratio (4.2x) compared to the peer average (20x).

Price to Earnings Ratio vs Industry

How does XPG's PE Ratio compare vs other companies in the European Media Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
XPG 4.2xIndustry Avg. 12.4xNo. of Companies16PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: XPG is good value based on its Price-To-Earnings Ratio (4.2x) compared to the European Media industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is XPG'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.

XPG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.2x
Fair PE Ratio4.7x

Price-To-Earnings vs Fair Ratio: XPG is good value based on its Price-To-Earnings Ratio (4.2x) compared to the estimated Fair Price-To-Earnings Ratio (4.7x).

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 XPG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€31.52
€31.25
-0.9%
12.5%€37.93€25.86n/a13
Nov ’25€30.90
€30.00
-2.9%
11.4%€35.22€25.04n/a13
Oct ’25€28.64
€28.26
-1.3%
13.6%€34.05€19.92n/a13
Sep ’25€26.22
€28.22
+7.6%
13.2%€34.23€20.57n/a13
Aug ’25€26.28
€27.97
+6.4%
13.4%€33.75€20.27n/a13
Jul ’25€27.78
€28.95
+4.2%
16.5%€41.43€21.06n/a12
Jun ’25€26.70
€29.60
+10.9%
6.1%€33.27€26.26n/a12
May ’25€26.26
€29.14
+11.0%
8.6%€34.58€25.30n/a12
Apr ’25€29.13
€30.06
+3.2%
8.1%€35.28€25.82n/a12
Mar ’25€27.21
€29.88
+9.8%
7.7%€36.10€26.41n/a12
Feb ’25€27.66
€28.18
+1.9%
10.2%€30.97€20.39n/a12
Jan ’25€25.46
€27.56
+8.3%
13.8%€31.56€20.45n/a12
Dec ’24€22.70
€25.42
+12.0%
12.0%€30.51€19.82n/a12
Nov ’24€18.37
€23.75
+29.3%
9.3%€27.05€19.44€30.9013
Oct ’24€21.48
€24.10
+12.2%
12.1%€28.30€17.68€28.6413
Sep ’24€19.47
€22.66
+16.4%
11.3%€27.48€17.96€26.2215
Aug ’24€19.30
€22.66
+17.4%
11.3%€27.48€17.96€26.2815
Jul ’24€16.33
€21.81
+33.6%
12.3%€27.00€17.42€27.7815
Jun ’24€17.83
€21.41
+20.1%
11.5%€26.37€17.01€26.7015
May ’24€15.57
€21.02
+35.0%
13.3%€25.72€16.18€26.2614
Apr ’24€15.38
€22.94
+49.1%
13.0%€26.72€15.31€29.1314
Mar ’24€19.23
€24.03
+25.0%
14.2%€30.95€15.75€27.2115
Feb ’24€19.88
€23.33
+17.3%
15.7%€28.64€15.98€27.6615
Jan ’24€17.53
€23.12
+31.9%
21.0%€30.19€13.59€25.4616
Dec ’23€19.21
€23.31
+21.4%
20.7%€30.36€13.67€22.7016
Nov ’23€15.62
€23.16
+48.3%
20.5%€30.28€13.63€18.3716

Analyst Forecast: Target price is lower than the current share price.

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