Nordic Waterproofing Holding AB (publ)

LSE:0RH9 Stock Report

Market Cap: SEK 4.2b

Nordic Waterproofing Holding Valuation

Is 0RH9 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 0RH9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0RH9 (SEK175.6) is trading below our estimate of fair value (SEK336.73)

Significantly Below Fair Value: 0RH9 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0RH9?

Key metric: As 0RH9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0RH9. This is calculated by dividing 0RH9's market cap by their current earnings.
What is 0RH9's PE Ratio?
PE Ratio20.9x
EarningsSEK 201.40m
Market CapSEK 4.22b

Price to Earnings Ratio vs Peers

How does 0RH9's PE Ratio compare to its peers?

The above table shows the PE ratio for 0RH9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.7x
NXR Norcros
24.9x28.9%UK£221.8m
ECEL Eurocell
14.4x22.3%UK£179.9m
EPWN Epwin Group
16.3x15.2%UK£148.2m
JHD James Halstead
19x4.1%UK£789.8m
0RH9 Nordic Waterproofing Holding
20.9x23.6%SEK 4.2b

Price-To-Earnings vs Peers: 0RH9 is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the peer average (18.7x).

Price to Earnings Ratio vs Industry

How does 0RH9's PE Ratio compare vs other companies in the European Building Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
0RH9 20.9xIndustry Avg. 19.9xNo. of Companies13PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0RH9 is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the European Building industry average (19.9x).

Price to Earnings Ratio vs Fair Ratio

What is 0RH9'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.

0RH9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.9x
Fair PE Ratio18.8x

Price-To-Earnings vs Fair Ratio: 0RH9 is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the estimated Fair Price-To-Earnings Ratio (18.8x).

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 0RH9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 175.60
SEK 168.25
-4.2%
0.4%SEK 169.00SEK 167.50n/a2
Nov ’25SEK 179.00
SEK 166.25
-7.1%
0.8%SEK 167.50SEK 165.00n/a2
Oct ’25SEK 167.20
SEK 163.75
-2.1%
0.8%SEK 165.00SEK 162.50n/a2
Sep ’25SEK 161.20
SEK 163.75
+1.6%
0.8%SEK 165.00SEK 162.50n/a2
Aug ’25n/a
SEK 163.75
0%
0.8%SEK 165.00SEK 162.50n/a2
Jul ’25SEK 161.92
SEK 167.75
+3.6%
0.1%SEK 168.00SEK 167.50n/a2
Jun ’25SEK 163.20
SEK 171.25
+4.9%
2.2%SEK 175.00SEK 167.50n/a2
May ’25SEK 160.64
SEK 171.25
+6.6%
2.2%SEK 175.00SEK 167.50n/a2
Apr ’25SEK 168.00
SEK 171.25
+1.9%
2.2%SEK 175.00SEK 167.50n/a2
Mar ’25SEK 169.54
SEK 171.25
+1.0%
2.2%SEK 175.00SEK 167.50n/a2
Feb ’25SEK 169.98
SEK 171.25
+0.7%
2.2%SEK 175.00SEK 167.50n/a2
Jan ’25SEK 164.80
SEK 171.25
+3.9%
2.2%SEK 175.00SEK 167.50n/a2
Dec ’24SEK 163.02
SEK 171.25
+5.1%
2.2%SEK 175.00SEK 167.50n/a2
Nov ’24SEK 161.20
SEK 163.75
+1.6%
2.3%SEK 167.50SEK 160.00SEK 179.002
Oct ’24SEK 163.00
SEK 167.50
+2.8%
4.5%SEK 175.00SEK 160.00SEK 167.202
Sep ’24SEK 152.77
SEK 167.50
+9.6%
4.5%SEK 175.00SEK 160.00SEK 161.202
Aug ’24SEK 147.20
SEK 167.50
+13.8%
4.5%SEK 175.00SEK 160.00n/a2
Jul ’24SEK 136.60
SEK 171.00
+25.2%
2.3%SEK 175.00SEK 167.00SEK 161.922
Jun ’24SEK 143.19
SEK 171.00
+19.4%
2.3%SEK 175.00SEK 167.00SEK 163.202
May ’24SEK 138.06
SEK 179.50
+30.0%
2.5%SEK 184.00SEK 175.00SEK 160.642
Apr ’24SEK 162.93
SEK 185.75
+14.0%
0.9%SEK 187.50SEK 184.00SEK 168.002
Mar ’24SEK 169.58
SEK 185.75
+9.5%
0.9%SEK 187.50SEK 184.00SEK 169.542
Feb ’24SEK 162.50
SEK 198.25
+22.0%
7.2%SEK 212.50SEK 184.00SEK 169.982
Jan ’24SEK 142.01
SEK 188.75
+32.9%
12.6%SEK 212.50SEK 165.00SEK 164.802
Dec ’23SEK 150.95
SEK 188.75
+25.0%
12.6%SEK 212.50SEK 165.00SEK 163.022
Nov ’23SEK 142.00
SEK 188.75
+32.9%
12.6%SEK 212.50SEK 165.00SEK 161.202

Analyst Forecast: Target price is lower than the current share price.

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