Truecaller AB (publ)

BATS-CHIXE:TRUEBS Stock Report

Market Cap: SEK 17.2b

Truecaller Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: TRUEBS (SEK50.58) is trading below our estimate of fair value (SEK86.59)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TRUEBS. This is calculated by dividing TRUEBS's market cap by their current earnings.
What is TRUEBS's PE Ratio?
PE Ratio35.2x
EarningsSEK 490.13m
Market CapSEK 17.24b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TRUEBS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average47.3x
BYIT Bytes Technology Group
19.6x6.7%UK£1.0b
GBG GB Group
106.5x36.6%UK£867.3m
ALFA Alfa Financial Software Holdings
28.7x6.3%UK£634.5m
CER Cerillion
34.3x8.5%UK£522.9m
TRUEBS Truecaller
35.2x23.6%SEK 17.2b

Price-To-Earnings vs Peers: TRUEBS is good value based on its Price-To-Earnings Ratio (35.2x) compared to the peer average (47.3x).

Price to Earnings Ratio vs Industry

How does TRUEBS's PE Ratio compare vs other companies in the GB Software Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
SORT Sorted Group Holdings
2.9xn/aUS$5.12m
No more companies available in this PE range
No. of Companies4PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TRUEBS is expensive based on its Price-To-Earnings Ratio (35.2x) compared to the UK Software industry average (33.5x).

Price to Earnings Ratio vs Fair Ratio

What is TRUEBS'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.

TRUEBS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TRUEBS'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?

The above table shows the analyst TRUEBS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
SEK 63.17
0%
11.8%SEK 79.00SEK 55.00n/a6
Dec ’25n/a
SEK 63.40
0%
12.9%SEK 79.00SEK 55.00n/a5
Nov ’25n/a
SEK 58.40
0%
12.0%SEK 71.00SEK 52.00n/a5
Oct ’25SEK 38.72
SEK 57.20
+47.7%
13.0%SEK 71.00SEK 50.00n/a5
Sep ’25n/a
SEK 57.20
0%
13.0%SEK 71.00SEK 50.00n/a5
Aug ’25n/a
SEK 54.83
0%
15.7%SEK 71.00SEK 43.00n/a6
Jul ’25SEK 35.49
SEK 54.50
+53.6%
14.6%SEK 69.00SEK 43.00n/a6
Jun ’25SEK 37.53
SEK 54.17
+44.3%
15.4%SEK 66.00SEK 43.00n/a6
May ’25SEK 35.11
SEK 53.83
+53.3%
16.8%SEK 66.00SEK 43.00n/a6
Apr ’25n/a
SEK 54.67
0%
23.7%SEK 77.00SEK 40.00n/a6
Mar ’25SEK 28.57
SEK 55.33
+93.7%
24.6%SEK 77.00SEK 40.00n/a6
Feb ’25SEK 31.01
SEK 58.17
+87.6%
22.6%SEK 77.00SEK 40.00n/a6
Jan ’25SEK 35.18
SEK 67.80
+92.7%
32.8%SEK 108.00SEK 40.00n/a5
Dec ’24SEK 31.29
SEK 67.80
+116.7%
32.8%SEK 108.00SEK 40.00n/a5
Nov ’24n/a
SEK 70.20
0%
32.4%SEK 108.00SEK 40.00n/a5
Oct ’24n/a
SEK 79.00
0%
25.0%SEK 112.00SEK 55.00SEK 38.725
Sep ’24n/a
SEK 79.00
0%
25.0%SEK 112.00SEK 55.00n/a5
Aug ’24n/a
SEK 75.00
0%
26.9%SEK 112.00SEK 55.00n/a6
Jul ’24SEK 29.69
SEK 73.83
+148.7%
31.6%SEK 112.00SEK 48.00SEK 35.496
Jun ’24SEK 33.79
SEK 72.67
+115.1%
29.5%SEK 105.00SEK 48.00SEK 37.536
May ’24SEK 29.15
SEK 71.14
+144.1%
28.6%SEK 105.00SEK 48.00SEK 35.117
Apr ’24n/a
SEK 74.86
0%
26.8%SEK 110.00SEK 48.00n/a7
Mar ’24SEK 32.74
SEK 78.43
+139.5%
27.9%SEK 110.00SEK 48.00SEK 28.577
Feb ’24SEK 37.44
SEK 85.57
+128.6%
30.1%SEK 130.00SEK 55.00SEK 31.017
Jan ’24SEK 32.75
SEK 96.86
+195.7%
27.6%SEK 130.00SEK 55.00SEK 35.187
Dec ’23SEK 38.19
SEK 103.83
+171.9%
21.3%SEK 130.00SEK 73.00SEK 31.296

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 23:26
End of Day Share Price 2024/12/02 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

Truecaller AB (publ) is covered by 8 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Oscar ErixonCarnegie Investment Bank AB
Paul BradleyCitigroup Inc
Stefan GauffinDNB Markets