Gränges Valuation

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

GRNGS (SEK107.95) is trading below our estimate of [[fair value]] (SEK157.05)

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: GRNGS (SEK107.95) is trading below our estimate of fair value (SEK157.05)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for GRNGS. This is calculated by dividing GRNGS's market cap by their current earnings.
What is GRNGS's PE Ratio?
PE Ratio	14.5x
Earnings	SEK 993.00m
Market Cap	SEK 14.45b

GRNGS 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	0.8x
Enterprise Value/EBITDA	7.7x
PEG Ratio	0.8x

Price to Earnings Ratio vs Peers

How does GRNGS's PE Ratio compare to its peers?

The above table shows the PE ratio for GRNGS 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	23.9x
EVR EVRAZ	0.4x	n/a	UK£1.2b
HOC Hochschild Mining	46.9x	52.9%	UK£1.1b
HILS Hill & Smith	22.5x	10.9%	UK£1.7b
CEY Centamin	25.5x	21.7%	UK£1.7b
GRNGS Gränges	14.5x	18.2%	SEK 14.4b

Price-To-Earnings vs Peers: GRNGS is good value based on its Price-To-Earnings Ratio (14.5x) compared to the peer average (20.3x).

Price to Earnings Ratio vs Industry

How does GRNGS's PE Ratio compare vs other companies in the GB Metals and Mining Industry?

8 Companies	Price / Earnings	Estimated Growth	Market Cap
ENPL En+ Group International	2.2x	8.0%	US$4.67b
NLMK Novolipetsk Steel	0.8x	n/a	US$4.08b
EVR EVRAZ	0.4x	n/a	US$1.42b
MTL Metals Exploration	0.9x	-60.3%	US$126.89m

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: GRNGS is expensive based on its Price-To-Earnings Ratio (14.5x) compared to the UK Metals and Mining industry average (13.8x).

Price to Earnings Ratio vs Fair Ratio

What is GRNGS'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.

GRNGS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	14.5x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate GRNGS's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Altri SGPS

€1.0b

Produces and sells cellulosic fibers and energy in Portugal and internationally.

0DJV

€5.05

-2.6%

5.5%

Navigator Company

€2.5b

Manufactures and markets pulp and paper products worldwide.

0KLO

€3.51

-4.6%

-7.0%

Elkem

NOK 11.6b

Engages in the provision of advanced material solutions worldwide.

0SFN

NOK 18.36

1.7%

1.3%