Alleima Valuation

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

0ABJ (SEK73.05) is trading below our estimate of [[fair value]] (SEK128.89)

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

Below Fair Value: 0ABJ (SEK73.05) is trading below our estimate of fair value (SEK128.89)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0ABJ. This is calculated by dividing 0ABJ's market cap by their current earnings.
What is 0ABJ's PE Ratio?
PE Ratio	13.9x
Earnings	SEK 1.33b
Market Cap	SEK 18.44b

0ABJ 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	0.9x
Enterprise Value/EBITDA	7.7x
PEG Ratio	0.8x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0ABJ 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	9.9x
HILS Hill & Smith	19.7x	11.0%	UK£1.5b
NLMK Novolipetsk Steel	0.8x	n/a	US$4.1b
CGS Castings	9.4x	-0.1%	UK£113.4m
ECOR Ecora Resources	9.6x	14.6%	UK£151.8m
0ABJ Alleima	13.9x	16.6%	SEK 18.4b

Price-To-Earnings vs Peers: 0ABJ is expensive based on its Price-To-Earnings Ratio (13.9x) compared to the peer average (12.9x).

Price to Earnings Ratio vs Industry

How does 0ABJ's PE Ratio compare vs other companies in the GB Metals and Mining Industry?

5 Companies	Price / Earnings	Estimated Growth	Market Cap
NLMK Novolipetsk Steel	0.8x	n/a	US$4.08b
EVR EVRAZ	0.4x	n/a	US$1.42b
MTL Metals Exploration	0.8x	-60.3%	US$115.18m
ARCM Arc Minerals	1.8x	n/a	US$20.03m

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 0ABJ is expensive based on its Price-To-Earnings Ratio (13.9x) compared to the UK Metals and Mining industry average (9.4x).

Price to Earnings Ratio vs Fair Ratio

What is 0ABJ'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.

0ABJ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	13.9x
Fair PE Ratio	16.7x

Price-To-Earnings vs Fair Ratio: 0ABJ is good value based on its Price-To-Earnings Ratio (13.9x) compared to the estimated Fair Price-To-Earnings Ratio (16.7x).

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 0ABJ 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 73.05	SEK 82.33 +12.7%	12.2%	SEK 96.00	SEK 72.00	n/a	3
Dec ’25	SEK 75.75	SEK 82.33 +8.7%	12.2%	SEK 96.00	SEK 72.00	n/a	3
Nov ’25	SEK 64.60	SEK 78.50 +21.5%	8.3%	SEK 85.00	SEK 72.00	n/a	2
Oct ’25	SEK 71.25	SEK 80.00 +12.3%	6.3%	SEK 85.00	SEK 75.00	n/a	2
Aug ’25	SEK 76.83	SEK 79.33 +3.3%	10.1%	SEK 85.00	SEK 68.00	n/a	3
Jul ’25	SEK 71.50	SEK 72.67 +1.6%	7.2%	SEK 80.00	SEK 68.00	n/a	3
Jun ’25	SEK 71.00	SEK 72.67 +2.3%	5.1%	SEK 77.00	SEK 68.00	n/a	3
May ’25	SEK 69.69	SEK 72.67 +4.3%	5.1%	SEK 77.00	SEK 68.00	n/a	3
Apr ’25	SEK 72.14	SEK 74.67 +3.5%	8.4%	SEK 83.00	SEK 68.00	n/a	3
Mar ’25	SEK 68.59	SEK 76.00 +10.8%	7.7%	SEK 83.00	SEK 68.00	n/a	4
Feb ’25	SEK 69.42	SEK 77.50 +11.6%	7.3%	SEK 83.00	SEK 68.00	n/a	4
Jan ’25	SEK 76.80	SEK 75.25 -2.0%	6.3%	SEK 80.00	SEK 70.00	n/a	4
Dec ’24	SEK 77.24	SEK 75.25 -2.6%	6.3%	SEK 80.00	SEK 70.00	SEK 75.75	4
Nov ’24	SEK 69.08	SEK 71.50 +3.5%	7.2%	SEK 80.00	SEK 66.00	SEK 64.60	4
Oct ’24	SEK 57.10	SEK 67.00 +17.3%	9.2%	SEK 75.00	SEK 60.00	SEK 71.25	3
Sep ’24	SEK 51.67	SEK 67.00 +29.7%	9.2%	SEK 75.00	SEK 60.00	SEK 76.56	3
Aug ’24	SEK 46.32	SEK 67.00 +44.6%	9.2%	SEK 75.00	SEK 60.00	SEK 76.83	3
Jul ’24	SEK 49.06	SEK 67.00 +36.6%	9.2%	SEK 75.00	SEK 60.00	SEK 71.50	3
Jun ’24	SEK 44.48	SEK 67.00 +50.6%	9.2%	SEK 75.00	SEK 60.00	SEK 71.00	3
May ’24	SEK 52.50	SEK 66.33 +26.4%	9.6%	SEK 75.00	SEK 60.00	SEK 69.69	3
Apr ’24	SEK 51.14	SEK 62.67 +22.5%	10.5%	SEK 70.00	SEK 54.00	SEK 72.14	3
Mar ’24	SEK 56.05	SEK 62.00 +10.6%	12.9%	SEK 70.00	SEK 54.00	SEK 68.59	2
Feb ’24	SEK 52.87	SEK 62.00 +17.3%	12.9%	SEK 70.00	SEK 54.00	SEK 69.42	2
Jan ’24	SEK 38.81	SEK 57.00 +46.9%	12.3%	SEK 64.00	SEK 50.00	SEK 76.80	2
Dec ’23	SEK 40.85	SEK 57.00 +39.5%	12.3%	SEK 64.00	SEK 50.00	SEK 77.24	2

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

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/23 10:53
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Alleima AB (publ) is covered by 5 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Patrick Mann	BofA Global Research
Olof Krook Larshammar	Danske Bank
Viktor Trollsten	Danske Bank