Afry AB

LSE:0QUU Stock Report

Market Cap: SEK 17.3b

Afry Valuation

Is 0QUU undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: 0QUU (SEK152.22) is trading below our estimate of fair value (SEK413.91)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0QUU. This is calculated by dividing 0QUU's market cap by their current earnings.
What is 0QUU's PE Ratio?
PE Ratio14.5x
EarningsSEK 1.20b
Market CapSEK 17.29b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0QUU 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
0QUU Afry
14.5x18.5%SEK 17.3b

Price-To-Earnings vs Peers: 0QUU 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 0QUU'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
0QUU 14.5xIndustry Avg. 23.8xNo. of Companies4PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0QUU is good value based on its Price-To-Earnings Ratio (14.5x) compared to the UK Professional Services industry average (23.5x).

Price to Earnings Ratio vs Fair Ratio

What is 0QUU'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.

0QUU PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.5x
Fair PE Ratio25.5x

Price-To-Earnings vs Fair Ratio: 0QUU is good value based on its Price-To-Earnings Ratio (14.5x) compared to the estimated Fair Price-To-Earnings Ratio (25.5x).

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 0QUU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 152.22
SEK 216.40
+42.2%
8.5%SEK 250.00SEK 200.00n/a5
Dec ’25SEK 149.61
SEK 216.40
+44.6%
8.5%SEK 250.00SEK 200.00n/a5
Nov ’25SEK 159.16
SEK 220.40
+38.5%
11.8%SEK 270.00SEK 200.00n/a5
Oct ’25SEK 181.28
SEK 227.00
+25.2%
9.1%SEK 270.00SEK 204.00n/a6
Sep ’25SEK 184.19
SEK 222.40
+20.7%
1.7%SEK 230.00SEK 220.00n/a5
Aug ’25SEK 193.43
SEK 222.40
+15.0%
1.7%SEK 230.00SEK 220.00n/a5
Jul ’25SEK 192.14
SEK 204.40
+6.4%
1.6%SEK 210.00SEK 200.00n/a5
Jun ’25SEK 187.51
SEK 200.80
+7.1%
1.5%SEK 205.00SEK 196.00n/a5
May ’25SEK 173.40
SEK 200.80
+15.8%
1.5%SEK 205.00SEK 196.00n/a5
Apr ’25SEK 171.00
SEK 202.50
+18.4%
1.2%SEK 205.00SEK 200.00n/a4
Mar ’25SEK 164.11
SEK 193.75
+18.1%
7.2%SEK 205.00SEK 170.00n/a4
Feb ’25SEK 144.39
SEK 168.75
+16.9%
22.6%SEK 205.00SEK 110.00n/a4
Jan ’25SEK 140.98
SEK 168.75
+19.7%
22.6%SEK 205.00SEK 110.00n/a4
Dec ’24SEK 126.30
SEK 167.50
+32.6%
23.9%SEK 205.00SEK 105.00SEK 149.614
Nov ’24SEK 116.97
SEK 173.75
+48.5%
26.9%SEK 230.00SEK 105.00SEK 159.164
Oct ’24SEK 128.55
SEK 193.00
+50.1%
17.2%SEK 230.00SEK 150.00SEK 181.284
Sep ’24SEK 143.34
SEK 223.33
+55.8%
2.1%SEK 230.00SEK 220.00SEK 184.193
Aug ’24SEK 144.45
SEK 223.33
+54.6%
2.1%SEK 230.00SEK 220.00SEK 193.433
Jul ’24SEK 159.87
SEK 226.67
+41.8%
2.1%SEK 230.00SEK 220.00SEK 192.143
Jun ’24SEK 168.00
SEK 225.00
+33.9%
2.2%SEK 230.00SEK 220.00SEK 187.512
May ’24SEK 192.96
SEK 223.33
+15.7%
3.8%SEK 235.00SEK 215.00SEK 173.403
Apr ’24SEK 187.17
SEK 219.67
+17.4%
1.7%SEK 224.00SEK 215.00SEK 171.003
Mar ’24SEK 184.00
SEK 220.33
+19.7%
2.0%SEK 226.00SEK 215.00SEK 164.113
Feb ’24SEK 191.55
SEK 219.67
+14.7%
1.7%SEK 224.00SEK 215.00SEK 144.393
Jan ’24SEK 173.05
SEK 220.33
+27.3%
2.0%SEK 226.00SEK 215.00SEK 140.983
Dec ’23SEK 176.00
SEK 220.33
+25.2%
2.0%SEK 226.00SEK 215.00SEK 126.303

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 09:27
End of Day Share Price 2024/12/23 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