Matas Valuation

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

Discounted Cash Flow

Simply Wall St

DKK 412.40

Fair Value

67.8% undervalued

Number of Analysts

Below Fair Value: MATAS (DKK133) is trading below our estimate of fair value (DKK412.4)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MATAS. This is calculated by dividing MATAS's market cap by their current earnings.
What is MATAS's PE Ratio?
PE Ratio	25.3x
Earnings	DKK 201.00m
Market Cap	DKK 5.08b

MATAS 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	1.1x
Enterprise Value/EBITDA	12.5x
PEG Ratio	0.7x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MATAS 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	65.5x
THANGAMAYL Thangamayil Jewellery	51.1x	42.4%	₹48.7b
MUSTI Musti Group Oyj	183.9x	n/a	€667.1m
SYNSAM Synsam	19.6x	28.7%	SEK 6.9b
AGS Hour Glass	7.3x	n/a	S$1.0b
MATAS Matas	25.3x	34.9%	DKK 5.1b

Price-To-Earnings vs Peers: MATAS is good value based on its Price-To-Earnings Ratio (25.3x) compared to the peer average (65.5x).

Price to Earnings Ratio vs Industry

How does MATAS's PE Ratio compare vs other companies in the European Specialty Retail Industry?

3 Companies	Price / Earnings	Estimated Growth	Market Cap

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: MATAS is expensive based on its Price-To-Earnings Ratio (25.3x) compared to the European Specialty Retail industry average (17.7x).

Price to Earnings Ratio vs Fair Ratio

What is MATAS'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.

MATAS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	25.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MATAS's Price-To-Earnings Fair Ratio for valuation analysis.

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 MATAS 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 133.00	DKK 171.67 +29.1%	3.6%	DKK 180.00	DKK 165.00	n/a	3
Jan ’26	DKK 135.40	DKK 170.00 +25.6%	2.4%	DKK 175.00	DKK 165.00	n/a	3
Dec ’25	DKK 125.00	DKK 170.00 +36.0%	2.4%	DKK 175.00	DKK 165.00	n/a	3
Nov ’25	DKK 127.00	DKK 168.33 +32.5%	1.4%	DKK 170.00	DKK 165.00	n/a	3
Oct ’25	DKK 123.80	DKK 168.33 +36.0%	1.4%	DKK 170.00	DKK 165.00	n/a	3
Sep ’25	DKK 125.20	DKK 168.33 +34.5%	1.4%	DKK 170.00	DKK 165.00	n/a	3
Aug ’25	DKK 119.40	DKK 155.00 +29.8%	4.6%	DKK 160.00	DKK 145.00	n/a	3
Jul ’25	DKK 120.60	DKK 155.00 +28.5%	4.6%	DKK 160.00	DKK 145.00	n/a	3
Jun ’25	DKK 118.60	DKK 155.00 +30.7%	4.6%	DKK 160.00	DKK 145.00	n/a	3
May ’25	DKK 112.20	DKK 150.00 +33.7%	4.7%	DKK 160.00	DKK 145.00	n/a	3
Apr ’25	DKK 117.00	DKK 150.00 +28.2%	4.7%	DKK 160.00	DKK 145.00	n/a	3
Mar ’25	DKK 118.00	DKK 150.00 +27.1%	4.7%	DKK 160.00	DKK 145.00	n/a	3
Feb ’25	DKK 123.00	DKK 150.00 +22.0%	4.7%	DKK 160.00	DKK 145.00	n/a	3
Jan ’25	DKK 115.40	DKK 136.67 +18.4%	6.9%	DKK 150.00	DKK 130.00	DKK 135.40	3
Dec ’24	DKK 105.00	DKK 136.67 +30.2%	6.9%	DKK 150.00	DKK 130.00	DKK 125.00	3
Nov ’24	DKK 91.70	DKK 140.00 +52.7%	7.1%	DKK 150.00	DKK 130.00	DKK 127.00	2
Oct ’24	DKK 97.60	DKK 140.00 +43.4%	7.1%	DKK 150.00	DKK 130.00	DKK 123.80	2
Sep ’24	DKK 112.00	DKK 140.00 +25.0%	7.1%	DKK 150.00	DKK 130.00	DKK 125.20	2
Aug ’24	DKK 99.90	DKK 131.67 +31.8%	10.9%	DKK 150.00	DKK 115.00	DKK 119.40	3
Jul ’24	DKK 100.60	DKK 132.50 +31.7%	13.2%	DKK 150.00	DKK 115.00	DKK 120.60	2
Jun ’24	DKK 82.10	DKK 122.50 +49.2%	6.1%	DKK 130.00	DKK 115.00	DKK 118.60	2
May ’24	DKK 86.30	DKK 113.33 +31.3%	11.0%	DKK 130.00	DKK 100.00	DKK 112.20	3
Apr ’24	DKK 84.20	DKK 113.33 +34.6%	11.0%	DKK 130.00	DKK 100.00	DKK 117.00	3
Mar ’24	DKK 81.70	DKK 113.33 +38.7%	11.0%	DKK 130.00	DKK 100.00	DKK 118.00	3
Feb ’24	DKK 75.55	DKK 117.50 +55.5%	10.6%	DKK 130.00	DKK 105.00	DKK 123.00	2
Jan ’24	DKK 69.70	DKK 115.00 +65.0%	13.0%	DKK 130.00	DKK 100.00	DKK 115.40	2

Analyst Price Target

Consensus Narrative from 3 Analysts

DKK 171.67

Fair Value

22.5% undervalued

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

Data	Last Updated (UTC time)
Company Analysis	2025/01/18 08:28
End of Day Share Price	2025/01/17 00:00
Earnings	2024/09/30
Annual Earnings	2024/03/31

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

Matas A/S is covered by 10 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.

Analyst	Institution
Michael Vitfell-Rasmussen	ABG Sundal Collier
Alexander Borreskov	Carnegie Investment Bank AB
Poul Jessen	Danske Bank