ISS Valuation

Q: What is the Fair Price of 0QRS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

0QRS (DKK133.6) is trading below our estimate of [[fair value]] (DKK298.4)

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

Below Fair Value: 0QRS (DKK133.6) is trading below our estimate of fair value (DKK298.4)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0QRS. This is calculated by dividing 0QRS's market cap by their current earnings.
What is 0QRS's PE Ratio?
PE Ratio	11.4x
Earnings	DKK 2.10b
Market Cap	DKK 23.79b

0QRS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.5x
Enterprise Value/EBITDA	10x
PEG Ratio	1x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0QRS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	51.7x
SMS Smart Metering Systems	81.4x	15.2%	UK£1.3b
JSG Johnson Service Group	19.3x	20.9%	UK£598.3m
RST Restore	98x	48.0%	UK£372.4m
MER Mears Group	8x	-15.6%	UK£339.9m
0QRS ISS	11.4x	11.2%	DKK 23.8b

Price-To-Earnings vs Peers: 0QRS is good value based on its Price-To-Earnings Ratio (11.4x) compared to the peer average (51.7x).

Price to Earnings Ratio vs Industry

How does 0QRS's PE Ratio compare vs other companies in the European Commercial Services Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 0QRS is good value based on its Price-To-Earnings Ratio (11.4x) compared to the European Commercial Services industry average (14.7x).

Price to Earnings Ratio vs Fair Ratio

What is 0QRS'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.

0QRS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	11.4x
Fair PE Ratio	24.9x

Price-To-Earnings vs Fair Ratio: 0QRS is good value based on its Price-To-Earnings Ratio (11.4x) compared to the estimated Fair Price-To-Earnings Ratio (24.9x).

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 0QRS forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	DKK 133.60	DKK 156.33 +17.0%	17.8%	DKK 220.00	DKK 125.00	n/a	9
Nov ’25	DKK 133.20	DKK 155.78 +17.0%	18.0%	DKK 220.00	DKK 125.00	n/a	9
Oct ’25	DKK 133.56	DKK 155.78 +16.6%	18.0%	DKK 220.00	DKK 125.00	n/a	9
Sep ’25	DKK 124.95	DKK 155.56 +24.5%	18.1%	DKK 220.00	DKK 125.00	n/a	9
Aug ’25	DKK 123.80	DKK 163.90 +32.4%	16.0%	DKK 210.00	DKK 120.00	n/a	10
Jul ’25	DKK 122.90	DKK 163.90 +33.4%	16.0%	DKK 210.00	DKK 120.00	n/a	10
Jun ’25	DKK 133.04	DKK 164.40 +23.6%	16.5%	DKK 215.00	DKK 120.00	n/a	10
May ’25	DKK 127.60	DKK 160.82 +26.0%	18.5%	DKK 215.00	DKK 105.00	n/a	11
Apr ’25	DKK 125.70	DKK 157.64 +25.4%	17.3%	DKK 215.00	DKK 105.00	n/a	11
Mar ’25	DKK 123.51	DKK 157.18 +27.3%	16.2%	DKK 205.00	DKK 105.00	n/a	11
Feb ’25	DKK 129.88	DKK 160.36 +23.5%	14.9%	DKK 205.00	DKK 105.00	n/a	11
Jan ’25	DKK 128.77	DKK 159.09 +23.5%	15.6%	DKK 205.00	DKK 105.00	n/a	11
Dec ’24	DKK 117.56	DKK 159.09 +35.3%	15.6%	DKK 205.00	DKK 105.00	n/a	11
Nov ’24	DKK 102.25	DKK 168.00 +64.3%	17.5%	DKK 230.00	DKK 105.00	DKK 133.20	11
Oct ’24	DKK 109.40	DKK 172.58 +57.8%	17.4%	DKK 230.00	DKK 105.00	DKK 133.56	12
Sep ’24	DKK 123.05	DKK 174.67 +41.9%	14.8%	DKK 230.00	DKK 130.00	DKK 124.95	12
Aug ’24	DKK 137.18	DKK 177.58 +29.4%	15.1%	DKK 240.00	DKK 130.00	DKK 123.80	12
Jul ’24	DKK 143.89	DKK 177.42 +23.3%	15.1%	DKK 240.00	DKK 130.00	DKK 122.90	12
Jun ’24	DKK 133.39	DKK 176.58 +32.4%	15.3%	DKK 240.00	DKK 130.00	DKK 133.04	12
May ’24	DKK 139.92	DKK 175.17 +25.2%	15.0%	DKK 235.00	DKK 130.00	DKK 127.60	12
Apr ’24	DKK 139.60	DKK 175.60 +25.8%	16.3%	DKK 235.00	DKK 130.00	DKK 125.70	10
Mar ’24	DKK 152.67	DKK 171.00 +12.0%	19.1%	DKK 240.00	DKK 120.00	DKK 123.51	11
Feb ’24	DKK 149.22	DKK 169.09 +13.3%	19.9%	DKK 240.00	DKK 120.00	DKK 129.88	11
Jan ’24	DKK 147.23	DKK 167.82 +14.0%	20.0%	DKK 240.00	DKK 120.00	DKK 128.77	11
Dec ’23	DKK 153.97	DKK 167.82 +9.0%	20.0%	DKK 240.00	DKK 120.00	DKK 117.56	11
Nov ’23	DKK 139.02	DKK 156.00 +12.2%	19.9%	DKK 220.00	DKK 115.00	DKK 102.25	10

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