Embla Medical hf Valuation

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

EMBLA (DKK35.4) is trading below our estimate of [[fair value]] (DKK40.95)

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: EMBLA (DKK35.4) is trading below our estimate of fair value (DKK40.95)

Significantly Below Fair Value: EMBLA 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 EMBLA?

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

The above table shows the Price to Earnings ratio for EMBLA. This is calculated by dividing EMBLA's market cap by their current earnings.
What is EMBLA's PE Ratio?
PE Ratio	30.7x
Earnings	US$69.07m
Market Cap	US$2.12b

EMBLA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3x
Enterprise Value/EBITDA	20.5x
PEG Ratio	1.8x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for EMBLA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	60.3x
AMBU B Ambu	121.5x	27.0%	DKK 28.6b
DEMANT Demant	22.8x	12.4%	DKK 57.8b
NUVA NuVasive	73.3x	46.2%	US$2.1b
EKTA B Elekta	23.5x	21.3%	SEK 23.6b
EMBLA Embla Medical hf	30.7x	16.9%	DKK 15.1b

Price-To-Earnings vs Peers: EMBLA is good value based on its Price-To-Earnings Ratio (30.7x) compared to the peer average (55.9x).

Price to Earnings Ratio vs Industry

How does EMBLA's PE Ratio compare vs other companies in the European Medical Equipment Industry?

3 Companies	Price / Earnings	Estimated Growth	Market Cap

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: EMBLA is expensive based on its Price-To-Earnings Ratio (30.7x) compared to the European Medical Equipment industry average (29.4x).

Price to Earnings Ratio vs Fair Ratio

What is EMBLA'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.

EMBLA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	30.7x
Fair PE Ratio	30x

Price-To-Earnings vs Fair Ratio: EMBLA is expensive based on its Price-To-Earnings Ratio (30.7x) compared to the estimated Fair Price-To-Earnings Ratio (30x).

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 EMBLA forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	DKK 35.40	DKK 38.52 +8.8%	8.7%	DKK 43.20	DKK 33.00	n/a	5
Dec ’25	DKK 34.90	DKK 38.08 +9.1%	7.3%	DKK 41.00	DKK 33.00	n/a	5
Nov ’25	DKK 34.90	DKK 37.58 +7.7%	7.0%	DKK 41.00	DKK 33.00	n/a	5
Oct ’25	DKK 32.00	DKK 35.86 +12.1%	6.4%	DKK 39.00	DKK 33.00	n/a	5
Sep ’25	DKK 29.50	DKK 35.82 +21.4%	6.4%	DKK 39.00	DKK 33.00	n/a	5
Aug ’25	DKK 32.40	DKK 35.06 +8.2%	6.5%	DKK 39.00	DKK 33.00	n/a	5
Jul ’25	DKK 29.60	DKK 34.72 +17.3%	7.2%	DKK 39.00	DKK 32.00	n/a	5
Jun ’25	DKK 28.30	DKK 34.52 +22.0%	8.0%	DKK 39.00	DKK 31.00	n/a	5
May ’25	DKK 29.90	DKK 34.52 +15.5%	8.0%	DKK 39.00	DKK 31.00	n/a	5
Apr ’25	DKK 33.50	DKK 34.16 +2.0%	8.2%	DKK 39.00	DKK 31.00	n/a	5
Mar ’25	DKK 31.70	DKK 34.16 +7.8%	8.2%	DKK 39.00	DKK 31.00	n/a	5
Feb ’25	DKK 30.00	DKK 33.96 +13.2%	8.5%	DKK 39.00	DKK 31.00	n/a	5
Jan ’25	DKK 27.45	DKK 34.00 +23.9%	8.3%	DKK 39.00	DKK 31.00	n/a	5
Dec ’24	DKK 28.60	DKK 34.00 +18.9%	8.3%	DKK 39.00	DKK 31.00	DKK 34.90	5
Nov ’24	DKK 25.80	DKK 34.14 +32.3%	8.0%	DKK 39.00	DKK 31.00	DKK 34.90	5
Oct ’24	DKK 28.50	DKK 37.10 +30.2%	6.3%	DKK 39.00	DKK 32.70	DKK 32.00	5
Sep ’24	DKK 30.10	DKK 37.10 +23.3%	6.3%	DKK 39.00	DKK 32.70	DKK 29.50	5
Aug ’24	DKK 31.50	DKK 37.10 +17.8%	6.3%	DKK 39.00	DKK 32.70	DKK 32.40	5
Jul ’24	DKK 32.15	DKK 37.10 +15.4%	6.3%	DKK 39.00	DKK 32.70	DKK 29.60	5
Jun ’24	DKK 31.00	DKK 36.93 +19.1%	7.0%	DKK 39.00	DKK 32.70	DKK 28.30	4
May ’24	DKK 32.15	DKK 37.25 +15.9%	5.5%	DKK 39.00	DKK 34.00	DKK 29.90	4
Apr ’24	DKK 31.00	DKK 37.25 +20.2%	5.5%	DKK 39.00	DKK 34.00	DKK 33.50	4
Mar ’24	DKK 33.60	DKK 37.50 +11.6%	5.5%	DKK 39.00	DKK 34.00	DKK 31.70	4
Feb ’24	DKK 32.50	DKK 37.75 +16.2%	4.3%	DKK 39.00	DKK 35.00	DKK 30.00	4
Jan ’24	DKK 33.55	DKK 36.45 +8.6%	5.1%	DKK 39.00	DKK 33.80	DKK 27.45	4
Dec ’23	DKK 32.60	DKK 36.45 +11.8%	5.1%	DKK 39.00	DKK 33.80	DKK 28.60	4

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

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/18 04:18
End of Day Share Price	2024/12/18 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Embla Medical hf. is covered by 12 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.

Analyst	Institution
Morten Larsen	ABG Sundal Collier
Benjamin Silverstone	ABG Sundal Collier Sponsored
null null	ABG Sundal Collier Sponsored