NCC AB (publ)

BATS-CHIXE:NCCBS Stock Report

Market Cap: SEK 17.8b

NCC Valuation

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

Discounted Cash Flow
Simply Wall St
SEK 50.84
Fair Value
222.6% overvalued intrinsic discount
5
Number of Analysts

Below Fair Value: NCCBS (SEK164) is trading above our estimate of fair value (SEK50.84)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NCCBS. This is calculated by dividing NCCBS's market cap by their current earnings.
What is NCCBS's PE Ratio?
PE Ratio11.4x
EarningsSEK 1.57b
Market CapSEK 17.85b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NCCBS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.3x
MGNS Morgan Sindall Group
13.9x2.7%UK£1.7b
KLR Keller Group
7.7x2.4%UK£971.3m
BBY Balfour Beatty
10.3x3.4%UK£2.4b
KIE Kier Group
13.4x14.7%UK£683.6m
NCCBS NCC
11.4x-0.7%SEK 17.8b

Price-To-Earnings vs Peers: NCCBS is good value based on its Price-To-Earnings Ratio (11.4x) compared to the peer average (11.4x).

Price to Earnings Ratio vs Industry

How does NCCBS's PE Ratio compare vs other companies in the European Construction Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies19PE01020304050+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NCCBS is good value based on its Price-To-Earnings Ratio (11.4x) compared to the European Construction industry average (13.3x).

Price to Earnings Ratio vs Fair Ratio

What is NCCBS'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.

NCCBS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NCCBS'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 NCCBS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
SEK 200.00
0%
3.2%SEK 210.00SEK 190.00n/a5
Feb ’26n/a
SEK 187.00
0%
5.8%SEK 200.00SEK 170.00n/a5
Jan ’26n/a
SEK 181.25
0%
4.1%SEK 190.00SEK 170.00n/a4
Dec ’25n/a
SEK 181.25
0%
4.1%SEK 190.00SEK 170.00n/a4
Nov ’25SEK 162.50
SEK 178.75
+10.0%
5.0%SEK 190.00SEK 170.00n/a4
Oct ’25n/a
SEK 170.00
0%
2.1%SEK 175.00SEK 165.00n/a4
Sep ’25n/a
SEK 170.00
0%
2.1%SEK 175.00SEK 165.00n/a4
Aug ’25n/a
SEK 170.00
0%
2.1%SEK 175.00SEK 165.00n/a4
Jul ’25n/a
SEK 150.00
0%
2.4%SEK 155.00SEK 145.00n/a4
Jun ’25SEK 136.20
SEK 150.00
+10.1%
2.4%SEK 155.00SEK 145.00n/a4
May ’25n/a
SEK 153.75
0%
2.7%SEK 160.00SEK 150.00n/a4
Apr ’25n/a
SEK 153.75
0%
2.7%SEK 160.00SEK 150.00n/a4
Mar ’25n/a
SEK 151.67
0%
1.6%SEK 155.00SEK 150.00n/a3
Feb ’25n/a
SEK 146.67
0%
3.2%SEK 150.00SEK 140.00n/a3
Jan ’25n/a
SEK 136.67
0%
1.7%SEK 140.00SEK 135.00n/a3
Dec ’24n/a
SEK 136.67
0%
1.7%SEK 140.00SEK 135.00n/a3
Nov ’24n/a
SEK 133.33
0%
1.8%SEK 135.00SEK 130.00SEK 162.503
Oct ’24n/a
SEK 135.00
0%
3.0%SEK 140.00SEK 130.00n/a3
Sep ’24n/a
SEK 135.00
0%
3.0%SEK 140.00SEK 130.00n/a3
Aug ’24SEK 113.50
SEK 135.00
+18.9%
3.0%SEK 140.00SEK 130.00n/a3
Jul ’24SEK 94.15
SEK 128.33
+36.3%
1.8%SEK 130.00SEK 125.00n/a3
Jun ’24SEK 89.00
SEK 128.33
+44.2%
1.8%SEK 130.00SEK 125.00SEK 136.203
May ’24n/a
SEK 128.33
0%
1.8%SEK 130.00SEK 125.00n/a3
Apr ’24SEK 88.25
SEK 127.50
+44.5%
2.0%SEK 130.00SEK 125.00n/a2
Mar ’24n/a
SEK 127.50
0%
2.0%SEK 130.00SEK 125.00n/a2
Feb ’24SEK 104.80
SEK 122.50
+16.9%
2.0%SEK 125.00SEK 120.00n/a2
Analyst Price Target
Consensus Narrative from 5 Analysts
SEK 179.82
Fair Value
8.8% 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 Analysis2025/02/11 21:46
End of Day Share Price 2025/01/21 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

NCC AB (publ) is covered by 13 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
null nullABG Sundal Collier
Kristofer Liljeberg-SvenssonCarnegie Investment Bank AB
Stefan Erik AnderssonDanske Bank