NCC AB (publ)

LSE:0OFP Stock Report

Market Cap: SEK 15.7b

NCC Valuation

Is 0OFP 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 0OFP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0OFP (SEK160.2) is trading below our estimate of fair value (SEK227.76)

Significantly Below Fair Value: 0OFP is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0OFP?

Key metric: As 0OFP is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0OFP. This is calculated by dividing 0OFP's market cap by their current earnings.
What is 0OFP's PE Ratio?
PE Ratio12.6x
EarningsSEK 1.24b
Market CapSEK 15.69b

Price to Earnings Ratio vs Peers

How does 0OFP's PE Ratio compare to its peers?

The above table shows the PE ratio for 0OFP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.3x
KLR Keller Group
8.6x2.4%UK£1.1b
RNWH Renew Holdings
17.1x3.6%UK£834.1m
KIE Kier Group
13x14.7%UK£663.9m
MGNS Morgan Sindall Group
14.5x2.8%UK£1.8b
0OFP NCC
12.6x6.4%SEK 15.7b

Price-To-Earnings vs Peers: 0OFP is good value based on its Price-To-Earnings Ratio (12.6x) compared to the peer average (13.3x).

Price to Earnings Ratio vs Industry

How does 0OFP's PE Ratio compare vs other companies in the European Construction Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0OFP 12.6xIndustry Avg. 13.0xNo. of Companies16PE0816243240+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0OFP is good value based on its Price-To-Earnings Ratio (12.6x) compared to the European Construction industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is 0OFP'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.

0OFP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.6x
Fair PE Ratio15.3x

Price-To-Earnings vs Fair Ratio: 0OFP is good value based on its Price-To-Earnings Ratio (12.6x) compared to the estimated Fair Price-To-Earnings Ratio (15.3x).

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 0OFP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 160.20
SEK 181.25
+13.1%
4.1%SEK 190.00SEK 170.00n/a4
Nov ’25SEK 161.80
SEK 178.75
+10.5%
5.0%SEK 190.00SEK 170.00n/a4
Oct ’25SEK 169.50
SEK 170.00
+0.3%
2.1%SEK 175.00SEK 165.00n/a4
Sep ’25SEK 158.50
SEK 170.00
+7.3%
2.1%SEK 175.00SEK 165.00n/a4
Aug ’25SEK 162.60
SEK 170.00
+4.6%
2.1%SEK 175.00SEK 165.00n/a4
Jul ’25SEK 138.41
SEK 150.00
+8.4%
2.4%SEK 155.00SEK 145.00n/a4
Jun ’25SEK 137.30
SEK 150.00
+9.2%
2.4%SEK 155.00SEK 145.00n/a4
May ’25SEK 134.41
SEK 153.75
+14.4%
2.7%SEK 160.00SEK 150.00n/a4
Apr ’25SEK 147.25
SEK 153.75
+4.4%
2.7%SEK 160.00SEK 150.00n/a4
Mar ’25SEK 142.10
SEK 151.67
+6.7%
1.6%SEK 155.00SEK 150.00n/a3
Feb ’25SEK 135.80
SEK 146.67
+8.0%
3.2%SEK 150.00SEK 140.00n/a3
Jan ’25SEK 126.14
SEK 136.67
+8.3%
1.7%SEK 140.00SEK 135.00n/a3
Dec ’24SEK 117.64
SEK 136.67
+16.2%
1.7%SEK 140.00SEK 135.00n/a3
Nov ’24SEK 115.67
SEK 133.33
+15.3%
1.8%SEK 135.00SEK 130.00SEK 161.803
Oct ’24SEK 118.26
SEK 135.00
+14.2%
3.0%SEK 140.00SEK 130.00SEK 169.503
Sep ’24SEK 112.59
SEK 135.00
+19.9%
3.0%SEK 140.00SEK 130.00SEK 158.503
Aug ’24SEK 113.51
SEK 135.00
+18.9%
3.0%SEK 140.00SEK 130.00SEK 162.603
Jul ’24SEK 94.11
SEK 128.33
+36.4%
1.8%SEK 130.00SEK 125.00SEK 138.413
Jun ’24SEK 89.15
SEK 128.33
+44.0%
1.8%SEK 130.00SEK 125.00SEK 137.303
May ’24SEK 102.32
SEK 128.33
+25.4%
1.8%SEK 130.00SEK 125.00SEK 134.413
Apr ’24SEK 91.91
SEK 127.50
+38.7%
2.0%SEK 130.00SEK 125.00SEK 147.252
Mar ’24SEK 98.62
SEK 127.50
+29.3%
2.0%SEK 130.00SEK 125.00SEK 142.102
Feb ’24SEK 102.54
SEK 122.50
+19.5%
2.0%SEK 125.00SEK 120.00SEK 135.802
Jan ’24SEK 98.75
SEK 125.00
+26.6%
4.0%SEK 130.00SEK 120.00SEK 126.142
Dec ’23SEK 101.50
SEK 125.00
+23.2%
4.0%SEK 130.00SEK 120.00SEK 117.642
Nov ’23SEK 99.95
SEK 125.00
+25.1%
4.0%SEK 130.00SEK 120.00SEK 115.672

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

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