Afry AB

BATS-CHIXE:AFRYS Stock Report

Market Cap: SEK 17.3b

Afry Valuation

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

Below Fair Value: AFRYS (SEK150.7) is trading below our estimate of fair value (SEK409.79)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for AFRYS. This is calculated by dividing AFRYS's market cap by their current earnings.
What is AFRYS's PE Ratio?
PE Ratio14.5x
EarningsSEK 1.20b
Market CapSEK 17.29b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for AFRYS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average25.7x
DATA GlobalData
44.7x27.7%UK£1.5b
RWS RWS Holdings
14.2x8.3%UK£676.2m
DWF DWF Group
25.4x47.9%UK£316.4m
ELIX Elixirr International
18.6x16.2%UK£341.7m
AFRYS Afry
14.5x18.5%SEK 17.3b

Price-To-Earnings vs Peers: AFRYS is good value based on its Price-To-Earnings Ratio (14.5x) compared to the peer average (25.8x).

Price to Earnings Ratio vs Industry

How does AFRYS's PE Ratio compare vs other companies in the GB Professional Services Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
IBPO iEnergizer
1.7xn/aUS$140.06m
TEK Tekcapital
1.6xn/aUS$21.74m
No more companies available in this PE range
No. of Companies4PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AFRYS is good value based on its Price-To-Earnings Ratio (14.5x) compared to the UK Professional Services industry average (23.7x).

Price to Earnings Ratio vs Fair Ratio

What is AFRYS'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.

AFRYS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate AFRYS'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 AFRYS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
SEK 216.40
0%
8.5%SEK 250.00SEK 200.00n/a5
Dec ’25SEK 150.70
SEK 216.40
+43.6%
8.5%SEK 250.00SEK 200.00n/a5
Nov ’25n/a
SEK 220.40
0%
11.8%SEK 270.00SEK 200.00n/a5
Oct ’25n/a
SEK 227.00
0%
9.1%SEK 270.00SEK 204.00n/a6
Sep ’25n/a
SEK 222.40
0%
1.7%SEK 230.00SEK 220.00n/a5
Aug ’25n/a
SEK 222.40
0%
1.7%SEK 230.00SEK 220.00n/a5
Jul ’25n/a
SEK 204.40
0%
1.6%SEK 210.00SEK 200.00n/a5
Jun ’25n/a
SEK 200.80
0%
1.5%SEK 205.00SEK 196.00n/a5
May ’25SEK 172.05
SEK 200.80
+16.7%
1.5%SEK 205.00SEK 196.00n/a5
Apr ’25n/a
SEK 202.50
0%
1.2%SEK 205.00SEK 200.00n/a4
Mar ’25n/a
SEK 193.75
0%
7.2%SEK 205.00SEK 170.00n/a4
Feb ’25n/a
SEK 168.75
0%
22.6%SEK 205.00SEK 110.00n/a4
Jan ’25n/a
SEK 168.75
0%
22.6%SEK 205.00SEK 110.00n/a4
Dec ’24n/a
SEK 167.50
0%
23.9%SEK 205.00SEK 105.00SEK 150.704
Nov ’24n/a
SEK 173.75
0%
26.9%SEK 230.00SEK 105.00n/a4
Oct ’24n/a
SEK 193.00
0%
17.2%SEK 230.00SEK 150.00n/a4
Sep ’24n/a
SEK 223.33
0%
2.1%SEK 230.00SEK 220.00n/a3
Aug ’24n/a
SEK 223.33
0%
2.1%SEK 230.00SEK 220.00n/a3
Jul ’24n/a
SEK 226.67
0%
2.1%SEK 230.00SEK 220.00n/a3
Jun ’24n/a
SEK 225.00
0%
2.2%SEK 230.00SEK 220.00n/a2
May ’24SEK 193.40
SEK 223.33
+15.5%
3.8%SEK 235.00SEK 215.00SEK 172.053
Apr ’24n/a
SEK 219.67
0%
1.7%SEK 224.00SEK 215.00n/a3
Mar ’24n/a
SEK 220.33
0%
2.0%SEK 226.00SEK 215.00n/a3
Feb ’24SEK 189.20
SEK 219.67
+16.1%
1.7%SEK 224.00SEK 215.00n/a3
Jan ’24SEK 171.50
SEK 220.33
+28.5%
2.0%SEK 226.00SEK 215.00n/a3
Dec ’23SEK 177.40
SEK 220.33
+24.2%
2.0%SEK 226.00SEK 215.00n/a3

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

DataLast Updated (UTC time)
Company Analysis2024/12/24 20:14
End of Day Share Price 2024/11/28 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 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

Afry AB is covered by 13 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kristofer Liljeberg-SvenssonCarnegie Investment Bank AB
Viktor LindebergCarnegie Investment Bank AB
Johan DahlDanske Bank