Thule Group AB (publ)

LSE:0R3W Stock Report

Market Cap: SEK 37.4b

Thule Group Valuation

Is 0R3W 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 0R3W when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0R3W (SEK346.2) is trading below our estimate of fair value (SEK399.02)

Significantly Below Fair Value: 0R3W is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0R3W?

Key metric: As 0R3W is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0R3W. This is calculated by dividing 0R3W's market cap by their current earnings.
What is 0R3W's PE Ratio?
PE Ratio30.9x
EarningsSEK 1.18b
Market CapSEK 37.37b

Price to Earnings Ratio vs Peers

How does 0R3W's PE Ratio compare to its peers?

The above table shows the PE ratio for 0R3W vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average37.6x
GAW Games Workshop Group
28.4x4.4%UK£4.3b
CCT Character Group
10.4xn/aUK£51.3m
BWY Bellway
21.8x21.7%UK£2.8b
BRBY Burberry Group
90x43.0%UK£3.4b
0R3W Thule Group
30.9x23.3%SEK 36.6b

Price-To-Earnings vs Peers: 0R3W is good value based on its Price-To-Earnings Ratio (30.9x) compared to the peer average (37.6x).

Price to Earnings Ratio vs Industry

How does 0R3W's PE Ratio compare vs other companies in the European Leisure Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0R3W 30.9xIndustry Avg. 18.3xNo. of Companies5PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0R3W is expensive based on its Price-To-Earnings Ratio (30.9x) compared to the Global Leisure industry average (18.3x).

Price to Earnings Ratio vs Fair Ratio

What is 0R3W'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.

0R3W PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio30.9x
Fair PE Ratio24.4x

Price-To-Earnings vs Fair Ratio: 0R3W is expensive based on its Price-To-Earnings Ratio (30.9x) compared to the estimated Fair Price-To-Earnings Ratio (24.3x).

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 0R3W forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 346.20
SEK 385.00
+11.2%
8.9%SEK 445.00SEK 350.00n/a5
Dec ’25SEK 343.40
SEK 371.25
+8.1%
4.9%SEK 400.00SEK 350.00n/a4
Nov ’25SEK 358.00
SEK 321.25
-10.3%
8.0%SEK 350.00SEK 285.00n/a4
Oct ’25SEK 305.74
SEK 317.50
+3.8%
6.9%SEK 340.00SEK 285.00n/a4
Sep ’25SEK 309.54
SEK 310.00
+0.1%
9.5%SEK 345.00SEK 270.00n/a5
Aug ’25SEK 293.74
SEK 310.00
+5.5%
9.5%SEK 345.00SEK 270.00n/a5
Jul ’25SEK 279.83
SEK 313.00
+11.9%
10.1%SEK 350.00SEK 270.00n/a5
Jun ’25SEK 316.62
SEK 312.00
-1.5%
9.9%SEK 350.00SEK 270.00n/a5
May ’25SEK 310.60
SEK 312.00
+0.5%
9.9%SEK 350.00SEK 270.00n/a5
Apr ’25SEK 318.79
SEK 304.00
-4.6%
8.3%SEK 335.00SEK 270.00n/a5
Mar ’25SEK 279.13
SEK 304.00
+8.9%
8.3%SEK 335.00SEK 270.00n/a5
Feb ’25SEK 265.18
SEK 291.00
+9.7%
8.0%SEK 320.00SEK 250.00n/a5
Jan ’25SEK 274.50
SEK 300.00
+9.3%
9.8%SEK 340.00SEK 250.00n/a5
Dec ’24SEK 261.40
SEK 300.00
+14.8%
9.8%SEK 340.00SEK 250.00SEK 343.405
Nov ’24SEK 253.20
SEK 332.50
+31.3%
7.8%SEK 370.00SEK 300.00SEK 358.004
Oct ’24SEK 286.84
SEK 350.00
+22.0%
5.6%SEK 370.00SEK 320.00SEK 305.744
Sep ’24SEK 316.60
SEK 356.25
+12.5%
5.9%SEK 370.00SEK 320.00SEK 309.544
Aug ’24SEK 329.12
SEK 343.75
+4.4%
12.4%SEK 370.00SEK 270.00SEK 293.744
Jul ’24SEK 317.97
SEK 323.75
+1.8%
9.9%SEK 350.00SEK 270.00SEK 279.834
Jun ’24SEK 277.43
SEK 305.00
+9.9%
10.0%SEK 340.00SEK 270.00SEK 316.624
May ’24SEK 294.17
SEK 272.50
-7.4%
16.0%SEK 340.00SEK 225.00SEK 310.604
Apr ’24SEK 252.87
SEK 242.50
-4.1%
5.2%SEK 260.00SEK 225.00SEK 318.794
Mar ’24SEK 231.54
SEK 242.50
+4.7%
5.2%SEK 260.00SEK 225.00SEK 279.134
Feb ’24SEK 251.85
SEK 245.00
-2.7%
5.6%SEK 260.00SEK 225.00SEK 265.184
Jan ’24SEK 222.25
SEK 241.00
+8.4%
7.6%SEK 265.00SEK 220.00SEK 274.505
Dec ’23SEK 249.51
SEK 243.00
-2.6%
8.5%SEK 270.00SEK 220.00SEK 261.405

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/20 20:37
End of Day Share Price 2024/12/20 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

Thule Group AB (publ) is covered by 12 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Lars TopholmCarnegie Investment Bank AB
Daniel SchmidtDanske Bank
Ebba Marie BjorklidDNB Markets