Ratos AB (publ)

LSE:0KBQ Stock Report

Market Cap: SEK 10.6b

Ratos Valuation

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

Below Fair Value: 0KBQ (SEK31.98) is trading below our estimate of fair value (SEK41.74)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0KBQ. This is calculated by dividing 0KBQ's market cap by their current earnings.
What is 0KBQ's PE Ratio?
PE Ratio10.9x
EarningsSEK 957.00m
Market CapSEK 10.62b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0KBQ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15x
XPS XPS Pensions Group
12.3x-14.5%UK£756.5m
BPCR BioPharma Credit
9.6xn/aUS$1.1b
IPX Impax Asset Management Group
10.5x2.3%UK£427.4m
TAM Tatton Asset Management
27.4x11.9%UK£422.5m
0KBQ Ratos
10.9x18.1%SEK 10.6b

Price-To-Earnings vs Peers: 0KBQ is good value based on its Price-To-Earnings Ratio (10.9x) compared to the peer average (15x).

Price to Earnings Ratio vs Industry

How does 0KBQ's PE Ratio compare vs other companies in the GB Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PNIX Phoenix Digital Assets
1.2xn/aUS$35.28m
IX. i(x) Net Zero
0.1xn/aUS$8.94m
APQ APQ Global
0.4xn/aUS$5.78m
MAFL Mineral & Financial Investments
1.9xn/aUS$4.94m
No more companies available in this PE range
0KBQ 10.9xIndustry Avg. 12.4xNo. of Companies18PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0KBQ is good value based on its Price-To-Earnings Ratio (10.9x) compared to the UK Capital Markets industry average (12.4x).

Price to Earnings Ratio vs Fair Ratio

What is 0KBQ'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.

0KBQ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.9x
Fair PE Ratio17x

Price-To-Earnings vs Fair Ratio: 0KBQ is good value based on its Price-To-Earnings Ratio (10.9x) compared to the estimated Fair Price-To-Earnings Ratio (17x).

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 0KBQ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 31.98
SEK 42.00
+31.3%
9.5%SEK 46.00SEK 38.00n/a2
Nov ’25SEK 33.71
SEK 42.00
+24.6%
9.5%SEK 46.00SEK 38.00n/a2
Oct ’25SEK 34.61
SEK 41.50
+19.9%
8.4%SEK 45.00SEK 38.00n/a2
Sep ’25SEK 33.98
SEK 41.50
+22.1%
8.4%SEK 45.00SEK 38.00n/a2
Aug ’25SEK 34.28
SEK 41.50
+21.0%
8.4%SEK 45.00SEK 38.00n/a2
Jul ’25SEK 36.56
SEK 42.50
+16.2%
10.6%SEK 47.00SEK 38.00n/a2
Jun ’25SEK 39.41
SEK 42.50
+7.8%
10.6%SEK 47.00SEK 38.00n/a2
May ’25SEK 38.24
SEK 42.50
+11.1%
10.6%SEK 47.00SEK 38.00n/a2
Apr ’25SEK 35.06
SEK 42.00
+19.8%
9.5%SEK 46.00SEK 38.00n/a2
Mar ’25SEK 35.00
SEK 42.00
+20.0%
9.5%SEK 46.00SEK 38.00n/a2
Feb ’25SEK 34.56
SEK 43.00
+24.4%
11.6%SEK 48.00SEK 38.00n/a2
Jan ’25SEK 36.00
SEK 43.00
+19.4%
11.6%SEK 48.00SEK 38.00n/a2
Dec ’24SEK 32.84
SEK 44.67
+36.0%
10.6%SEK 48.00SEK 38.00n/a3
Nov ’24SEK 31.23
SEK 44.67
+43.0%
10.6%SEK 48.00SEK 38.00SEK 33.713
Oct ’24SEK 32.62
SEK 45.67
+40.0%
13.4%SEK 53.00SEK 38.00SEK 34.613
Sep ’24SEK 34.30
SEK 45.67
+33.1%
13.4%SEK 53.00SEK 38.00SEK 33.983
Aug ’24SEK 34.14
SEK 45.67
+33.8%
13.4%SEK 53.00SEK 38.00SEK 34.283
Jul ’24SEK 30.22
SEK 47.33
+56.6%
16.4%SEK 57.00SEK 38.00SEK 36.563
Jun ’24SEK 31.30
SEK 47.33
+51.2%
16.4%SEK 57.00SEK 38.00SEK 39.413
May ’24SEK 35.42
SEK 47.33
+33.6%
16.4%SEK 57.00SEK 38.00SEK 38.243
Apr ’24SEK 31.69
SEK 46.67
+47.3%
14.1%SEK 54.00SEK 38.00SEK 35.063
Mar ’24SEK 32.70
SEK 46.67
+42.7%
14.1%SEK 54.00SEK 38.00SEK 35.003
Feb ’24SEK 43.06
SEK 51.00
+18.4%
18.5%SEK 60.00SEK 38.00SEK 34.563
Jan ’24SEK 42.31
SEK 52.33
+23.7%
19.4%SEK 60.00SEK 38.00SEK 36.003
Dec ’23SEK 46.15
SEK 52.33
+13.4%
19.4%SEK 60.00SEK 38.00SEK 32.843
Nov ’23SEK 41.35
SEK 52.33
+26.6%
19.4%SEK 60.00SEK 38.00SEK 31.233

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.

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