AcadeMedia Valuation

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

0RHN (SEK62.3) is trading below our estimate of [[fair value]] (SEK99.69)

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

Below Fair Value: 0RHN (SEK62.3) is trading below our estimate of fair value (SEK99.69)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0RHN. This is calculated by dividing 0RHN's market cap by their current earnings.
What is 0RHN's PE Ratio?
PE Ratio	9.7x
Earnings	SEK 650.00m
Market Cap	SEK 6.30b

0RHN 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	1.1x
Enterprise Value/EBITDA	10x
PEG Ratio	0.6x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0RHN 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	35.7x
TRB Tribal Group	54.5x	35.8%	UK£104.8m
PSON Pearson	22.8x	10.6%	UK£8.0b
ATG Auction Technology Group	49.8x	32.7%	UK£545.3m
MEGP ME Group International	15.6x	7.3%	UK£827.0m
0RHN AcadeMedia	9.7x	17.2%	SEK 6.3b

Price-To-Earnings vs Peers: 0RHN is good value based on its Price-To-Earnings Ratio (9.7x) compared to the peer average (35.7x).

Price to Earnings Ratio vs Industry

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

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 0RHN is good value based on its Price-To-Earnings Ratio (9.7x) compared to the Global Consumer Services industry average (17.5x).

Price to Earnings Ratio vs Fair Ratio

What is 0RHN'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.

0RHN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	9.7x
Fair PE Ratio	20.9x

Price-To-Earnings vs Fair Ratio: 0RHN is good value based on its Price-To-Earnings Ratio (9.7x) compared to the estimated Fair Price-To-Earnings Ratio (20.9x).

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 0RHN 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	SEK 62.30	SEK 89.00 +42.9%	3.4%	SEK 92.00	SEK 86.00	n/a	2
Nov ’25	SEK 65.20	SEK 89.00 +36.5%	3.4%	SEK 92.00	SEK 86.00	n/a	2
Oct ’25	SEK 67.20	SEK 89.00 +32.4%	3.4%	SEK 92.00	SEK 86.00	n/a	2
Sep ’25	SEK 65.70	SEK 86.50 +31.7%	6.4%	SEK 92.00	SEK 81.00	n/a	2
Aug ’25	SEK 56.00	SEK 73.00 +30.4%	11.0%	SEK 81.00	SEK 65.00	n/a	2
Jul ’25	SEK 51.90	SEK 73.00 +40.7%	11.0%	SEK 81.00	SEK 65.00	n/a	2
Jun ’25	SEK 55.70	SEK 71.00 +27.5%	8.5%	SEK 77.00	SEK 65.00	n/a	2
May ’25	SEK 50.60	SEK 70.00 +38.3%	10.0%	SEK 77.00	SEK 63.00	n/a	2
Apr ’25	SEK 48.54	SEK 70.00 +44.2%	10.0%	SEK 77.00	SEK 63.00	n/a	2
Mar ’25	SEK 47.37	SEK 70.00 +47.8%	10.0%	SEK 77.00	SEK 63.00	n/a	2
Feb ’25	SEK 55.29	SEK 70.00 +26.6%	10.0%	SEK 77.00	SEK 63.00	n/a	2
Jan ’25	SEK 51.57	SEK 70.00 +35.7%	10.0%	SEK 77.00	SEK 63.00	n/a	2
Dec ’24	SEK 50.40	SEK 70.00 +38.9%	10.0%	SEK 77.00	SEK 63.00	n/a	2
Nov ’24	SEK 46.24	SEK 71.50 +54.6%	11.9%	SEK 80.00	SEK 63.00	SEK 65.20	2
Oct ’24	SEK 46.75	SEK 71.50 +52.9%	11.9%	SEK 80.00	SEK 63.00	SEK 67.20	2
Sep ’24	SEK 50.60	SEK 71.50 +41.3%	11.9%	SEK 80.00	SEK 63.00	SEK 65.70	2
Aug ’24	SEK 50.81	SEK 71.50 +40.7%	11.9%	SEK 80.00	SEK 63.00	SEK 56.00	2
Jul ’24	SEK 50.05	SEK 71.50 +42.9%	11.9%	SEK 80.00	SEK 63.00	SEK 51.90	2
Jun ’24	SEK 46.70	SEK 71.50 +53.1%	11.9%	SEK 80.00	SEK 63.00	SEK 55.70	2
May ’24	SEK 52.01	SEK 70.50 +35.6%	13.5%	SEK 80.00	SEK 61.00	SEK 50.60	2
Apr ’24	SEK 51.08	SEK 70.50 +38.0%	13.5%	SEK 80.00	SEK 61.00	SEK 48.54	2
Mar ’24	SEK 48.86	SEK 70.50 +44.3%	13.5%	SEK 80.00	SEK 61.00	SEK 47.37	2
Feb ’24	SEK 49.53	SEK 68.00 +37.3%	10.3%	SEK 75.00	SEK 61.00	SEK 55.29	2
Jan ’24	SEK 44.94	SEK 82.50 +83.6%	9.1%	SEK 90.00	SEK 75.00	SEK 51.57	2
Dec ’23	SEK 45.11	SEK 82.50 +82.9%	9.1%	SEK 90.00	SEK 75.00	SEK 50.40	2
Nov ’23	SEK 46.69	SEK 82.50 +76.7%	9.1%	SEK 90.00	SEK 75.00	SEK 46.24	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.