SSAB AB (publ)

HLSE:SSABAH Stock Report

Market Cap: €4.4b

SSAB Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: SSABAH (€4.45) is trading above our estimate of fair value (€4.23)

Significantly Below Fair Value: SSABAH is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SSABAH. This is calculated by dividing SSABAH's market cap by their current earnings.
What is SSABAH's PE Ratio?
PE Ratio6.5x
EarningsSEK 7.94b
Market CapSEK 50.91b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SSABAH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.4x
HUH1V Huhtamäki Oyj
14.6x9.0%€3.6b
KEMIRA Kemira Oyj
17.1x10.5%€2.9b
METSB Metsä Board Oyj
46x53.0%€1.7b
UPM UPM-Kymmene Oyj
19.9x22.5%€13.8b
SSABAH SSAB
6.5x-0.8%€50.9b

Price-To-Earnings vs Peers: SSABAH is good value based on its Price-To-Earnings Ratio (6.5x) compared to the peer average (24.4x).

Price to Earnings Ratio vs Industry

How does SSABAH's PE Ratio compare vs other companies in the European Metals and Mining Industry?

15 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SSABAH 6.5xIndustry Avg. 12.9xNo. of Companies15PE0816243240+
15 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SSABAH is good value based on its Price-To-Earnings Ratio (6.5x) compared to the European Metals and Mining industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is SSABAH'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.

SSABAH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.5x
Fair PE Ratio15.9x

Price-To-Earnings vs Fair Ratio: SSABAH is good value based on its Price-To-Earnings Ratio (6.5x) compared to the estimated Fair Price-To-Earnings Ratio (15.9x).

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 SSABAH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.45
€5.27
+18.4%
12.7%€6.35€4.41n/a13
Nov ’25€4.41
€5.39
+22.3%
15.4%€7.12€4.43n/a13
Oct ’25€4.64
€6.11
+31.8%
14.3%€7.52€4.95n/a13
Sep ’25€4.46
€6.14
+37.8%
12.4%€7.47€5.01n/a14
Aug ’25€4.59
€6.16
+34.2%
17.3%€8.94€4.85n/a14
Jul ’25€5.09
€6.81
+33.8%
18.0%€9.30€5.05n/a14
Jun ’25€5.33
€6.91
+29.5%
18.8%€8.98€4.96n/a14
May ’25€5.24
€6.97
+32.9%
18.4%€8.99€4.97n/a14
Apr ’25€6.88
€7.83
+13.8%
20.6%€11.31€4.78n/a14
Mar ’25€7.15
€8.02
+12.3%
20.3%€11.56€4.89n/a14
Feb ’25€7.09
€7.95
+12.1%
19.2%€10.62€4.87n/a14
Jan ’25€6.89
€7.45
+8.2%
23.7%€10.65€4.88n/a13
Dec ’24€7.14
€7.33
+2.7%
23.8%€10.57€4.84n/a13
Nov ’24€5.66
€6.88
+21.4%
20.8%€8.90€4.66€4.4113
Oct ’24€5.26
€7.26
+38.1%
16.5%€9.11€5.42€4.6412
Sep ’24€5.38
€7.26
+35.0%
17.4%€9.27€5.48€4.4612
Aug ’24€5.63
€7.57
+34.4%
18.4%€9.93€5.62€4.5912
Jul ’24€6.52
€7.73
+18.5%
19.6%€9.93€5.14€5.0912
Jun ’24€6.18
€7.89
+27.7%
19.8%€10.16€5.30€5.3312
May ’24€6.42
€7.57
+17.9%
18.5%€9.87€5.29€5.2412
Apr ’24€6.81
€7.10
+4.3%
18.3%€9.73€4.87€6.8812
Mar ’24€6.91
€6.54
-5.4%
25.8%€9.89€2.97€7.1512
Feb ’24€6.50
€6.35
-2.3%
25.3%€9.67€2.90€7.0912
Jan ’24€5.12
€6.26
+22.3%
23.4%€9.50€3.35€6.8914
Dec ’23€5.51
€6.45
+17.0%
22.6%€9.67€3.32€7.1414
Nov ’23€4.90
€6.39
+30.6%
22.3%€9.62€3.30€5.6614

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

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