NCAB Group AB (publ)

DB:XB1 Stock Report

Market Cap: €1.1b

NCAB Group Valuation

Is XB1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 XB1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€6.15
Fair Value
10.3% undervalued intrinsic discount
5
Number of Analysts

Below Fair Value: XB1 (€5.51) is trading below our estimate of fair value (€6.15)

Significantly Below Fair Value: XB1 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 XB1?

Key metric: As XB1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for XB1. This is calculated by dividing XB1's market cap by their current earnings.
What is XB1's PE Ratio?
PE Ratio44.4x
EarningsSEK 280.64m
Market CapSEK 12.47b

Price to Earnings Ratio vs Peers

How does XB1's PE Ratio compare to its peers?

The above table shows the PE ratio for XB1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average40.5x
JEN Jenoptik
14.7x12.2%€1.2b
S9I Stemmer Imaging
42.8x49.0%€349.7m
M7U Nynomic
12.5x17.5%€118.0m
600366 Ningbo Yunsheng
92.1x64.6%CN¥8.2b
XB1 NCAB Group
44.4x24.4%€12.5b

Price-To-Earnings vs Peers: XB1 is expensive based on its Price-To-Earnings Ratio (44.4x) compared to the peer average (40.5x).

Price to Earnings Ratio vs Industry

How does XB1's PE Ratio compare vs other companies in the European Electronic Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies14PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: XB1 is expensive based on its Price-To-Earnings Ratio (44.4x) compared to the European Electronic industry average (19.6x).

Price to Earnings Ratio vs Fair Ratio

What is XB1'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.

XB1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio44.4x
Fair PE Ratio14.6x

Price-To-Earnings vs Fair Ratio: XB1 is expensive based on its Price-To-Earnings Ratio (44.4x) compared to the estimated Fair Price-To-Earnings Ratio (14.6x).

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 XB1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€5.51
€6.39
+16.0%
5.2%€6.90€6.03n/a5
Jan ’26€5.29
€6.34
+19.9%
5.2%€6.85€5.98n/a5
Dec ’25€4.78
€6.38
+33.5%
6.3%€6.88€5.93n/a5
Nov ’25€5.46
€6.88
+25.9%
4.8%€7.21€6.33n/a4
Oct ’25€5.36
€7.28
+35.9%
4.5%€7.82€6.95n/a4
Sep ’25€6.27
€7.28
+16.1%
4.5%€7.82€6.95n/a4
Aug ’25€6.29
€7.34
+16.8%
5.1%€7.70€6.85n/a4
Jul ’25€6.75
€6.83
+1.2%
7.2%€7.58€6.34n/a4
Jun ’25€6.78
€6.45
-4.8%
5.3%€6.84€6.07n/a4
May ’25€6.07
€6.45
+6.4%
5.3%€6.84€6.07n/a4
Apr ’25€5.98
€6.57
+9.9%
3.4%€6.87€6.33n/a3
Mar ’25€6.43
€6.55
+2.0%
3.4%€6.85€6.31n/a3
Feb ’25€5.81
€6.32
+8.8%
1.1%€6.41€6.23€5.513
Jan ’25€6.38
€5.99
-6.1%
4.3%€6.25€5.65€5.293
Dec ’24€5.60
€5.99
+7.1%
4.3%€6.25€5.65€4.783
Nov ’24€4.47
€6.88
+53.9%
7.2%€7.45€6.24€5.463
Oct ’24€4.62
€7.12
+53.9%
3.4%€7.46€6.94€5.363
Sep ’24€4.86
€7.12
+46.4%
3.4%€7.46€6.94€6.273
Aug ’24€5.32
€7.12
+33.9%
3.4%€7.46€6.94€6.293
Jul ’24€6.57
€7.42
+13.0%
2.9%€7.65€7.14€6.753
Jun ’24€7.04
€7.41
+5.2%
3.9%€7.76€7.05€6.783
May ’24€6.98
€7.02
+0.7%
4.6%€7.41€6.61€6.073
Apr ’24€5.23
€6.82
+30.6%
1.3%€6.91€6.73€5.982
Mar ’24€5.70
€7.01
+23.0%
0.6%€7.06€6.96€6.432
Feb ’24€5.90
€6.68
+13.3%
2.0%€6.82€6.55€5.812
Analyst Price Target
Consensus Narrative from 5 Analysts
€6.05
Fair Value
8.9% undervalued intrinsic discount
5
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/02 05:24
End of Day Share Price 2025/01/31 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

NCAB Group AB (publ) is covered by 7 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
Robert RedinCarnegie Investment Bank AB
Jacob EdlerDanske Bank
Marcus DeveliusDNB Markets