Scandinavian Tobacco Group A/S

CPSE:STG Stock Report

Market Cap: DKK 8.2b

Scandinavian Tobacco Group Valuation

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

Discounted Cash Flow
Simply Wall St
DKK 386.69
Fair Value
73.4% undervalued intrinsic discount
2
Number of Analysts

Below Fair Value: STG (DKK103) is trading below our estimate of fair value (DKK386.69)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for STG. This is calculated by dividing STG's market cap by their current earnings.
What is STG's PE Ratio?
PE Ratio8.6x
EarningsDKK 939.70m
Market CapDKK 8.19b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for STG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.3x
UIE UIE
20.3xn/aDKK 10.7b
SCHO Aktieselskabet Schouw
15.7x16.7%DKK 15.0b
RBREW Royal Unibrew
18.6x6.8%DKK 27.5b
GGRM Gudang Garam
10.6x30.1%Rp19.7t
STG Scandinavian Tobacco Group
8.6x4.9%DKK 8.2b

Price-To-Earnings vs Peers: STG is good value based on its Price-To-Earnings Ratio (8.6x) compared to the peer average (16.3x).

Price to Earnings Ratio vs Industry

How does STG's PE Ratio compare vs other companies in the Global Tobacco Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
STG 8.6xIndustry Avg. 10.7xNo. of Companies14PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: STG is good value based on its Price-To-Earnings Ratio (8.6x) compared to the Global Tobacco industry average (10.7x).

Price to Earnings Ratio vs Fair Ratio

What is STG'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.

STG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.6x
Fair PE Ratio11.7x

Price-To-Earnings vs Fair Ratio: STG is good value based on its Price-To-Earnings Ratio (8.6x) compared to the estimated Fair Price-To-Earnings Ratio (11.7x).

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 STG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentDKK 103.00
DKK 108.50
+5.3%
6.0%DKK 115.00DKK 102.00n/a2
Mar ’26DKK 108.60
DKK 108.50
-0.09%
6.0%DKK 115.00DKK 102.00n/a2
Feb ’26DKK 103.40
DKK 108.50
+4.9%
6.0%DKK 115.00DKK 102.00n/a2
Jan ’26DKK 95.30
DKK 108.50
+13.9%
6.0%DKK 115.00DKK 102.00n/a2
Dec ’25DKK 95.00
DKK 108.50
+14.2%
6.0%DKK 115.00DKK 102.00n/a2
Nov ’25DKK 104.20
DKK 110.67
+6.2%
6.7%DKK 120.00DKK 102.00n/a3
Oct ’25DKK 103.00
DKK 110.67
+7.4%
6.7%DKK 120.00DKK 102.00n/a3
Sep ’25DKK 106.60
DKK 109.00
+2.3%
4.9%DKK 115.00DKK 102.00n/a3
Aug ’25DKK 101.60
DKK 109.00
+7.3%
4.9%DKK 115.00DKK 102.00n/a3
Jul ’25DKK 98.40
DKK 110.67
+12.5%
6.7%DKK 120.00DKK 102.00n/a3
Jun ’25DKK 97.10
DKK 114.00
+17.4%
10.3%DKK 130.00DKK 102.00n/a3
Mar ’25DKK 127.10
DKK 132.50
+4.2%
1.9%DKK 135.00DKK 130.00DKK 108.602
Feb ’25DKK 122.40
DKK 132.50
+8.3%
1.9%DKK 135.00DKK 130.00DKK 103.402
Jan ’25DKK 117.30
DKK 127.50
+8.7%
2.0%DKK 130.00DKK 125.00DKK 95.302
Dec ’24DKK 122.10
DKK 127.50
+4.4%
2.0%DKK 130.00DKK 125.00DKK 95.002
Nov ’24DKK 104.90
DKK 127.50
+21.5%
2.0%DKK 130.00DKK 125.00DKK 104.202
Oct ’24DKK 107.50
DKK 123.33
+14.7%
5.1%DKK 130.00DKK 115.00DKK 103.003
Sep ’24DKK 106.10
DKK 126.67
+19.4%
6.7%DKK 135.00DKK 115.00DKK 106.603
Aug ’24DKK 119.00
DKK 136.25
+14.5%
13.3%DKK 165.00DKK 115.00DKK 101.604
Jul ’24DKK 113.50
DKK 136.25
+20.0%
13.3%DKK 165.00DKK 115.00DKK 98.404
Jun ’24DKK 114.20
DKK 136.25
+19.3%
13.3%DKK 165.00DKK 115.00DKK 97.104
May ’24DKK 133.60
DKK 138.33
+3.5%
14.9%DKK 165.00DKK 115.00DKK 112.803
Apr ’24DKK 136.20
DKK 138.33
+1.6%
14.9%DKK 165.00DKK 115.00DKK 123.803
Mar ’24DKK 119.50
DKK 130.00
+8.8%
20.6%DKK 165.00DKK 100.00DKK 127.103
Analyst Price Target
Consensus Narrative from 2 Analysts
DKK 108.50
Fair Value
5.1% undervalued intrinsic discount
2
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 Analysis2025/03/20 18:34
End of Day Share Price 2025/03/20 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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

Scandinavian Tobacco Group A/S is covered by 7 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andreas LundbergABG Sundal Collier
Niklas EkmanCarnegie Investment Bank AB
Gerry GallagherDeutsche Bank