Multiconsult ASA

OB:MULTI Stock Report

Market Cap: NOK 4.2b

Multiconsult Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: MULTI (NOK151) is trading below our estimate of future cash flow value (NOK217.65)

Significantly Below Future Cash Flow Value: MULTI is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MULTI. This is calculated by dividing MULTI's market cap by their current earnings.
What is MULTI's PE Ratio?
PE Ratio18.2x
EarningsNOK 228.78m
Market CapNOK 4.16b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MULTI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average32.8x
MORLD Moreld
53.3x42.76%NOK 3.3b
SNTIA Sentia
13.3x0.58%NOK 8.1b
NORCO Norconsult
20.2x18.93%NOK 11.8b
NRC NRC Group
44.6x43.67%NOK 1.4b
MULTI Multiconsult
18.2x19.03%NOK 4.2b

Price-To-Earnings vs Peers: MULTI is good value based on its Price-To-Earnings Ratio (18.2x) compared to the peer average (32.8x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does MULTI's PE Ratio compare vs other companies in the European Construction Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MULTI 18.2xIndustry Avg. 15.9xNo. of Companies19PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MULTI is expensive based on its Price-To-Earnings Ratio (18.2x) compared to the European Construction industry average (16.1x).

Price to Earnings Ratio vs Fair Ratio

What is MULTI'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.

MULTI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.2x
Fair PE Ratio18x

Price-To-Earnings vs Fair Ratio: MULTI is expensive based on its Price-To-Earnings Ratio (18.2x) compared to the estimated Fair Price-To-Earnings Ratio (18x).

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 MULTI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 151.00
NOK 177.50
+17.55%
7.04%NOK 190.00NOK 165.00n/a2
Jun ’27NOK 154.80
NOK 177.50
+14.66%
7.04%NOK 190.00NOK 165.00n/a2
May ’27NOK 158.60
NOK 178.67
+12.65%
3.69%NOK 186.00NOK 170.00n/a3
Feb ’27NOK 170.00
NOK 190.00
+11.76%
5.26%NOK 200.00NOK 180.00n/a2
Jan ’27NOK 177.00
NOK 195.00
+10.17%
7.69%NOK 210.00NOK 180.00n/a2
Dec ’26NOK 161.50
NOK 195.00
+20.74%
7.69%NOK 210.00NOK 180.00n/a2
Nov ’26NOK 172.00
NOK 202.50
+17.73%
6.17%NOK 215.00NOK 190.00n/a2
Oct ’26NOK 175.00
NOK 209.00
+19.43%
4.31%NOK 218.00NOK 200.00n/a2
Sep ’26NOK 180.00
NOK 199.33
+10.74%
7.79%NOK 218.00NOK 180.00n/a3
Aug ’26NOK 210.00
NOK 206.67
-1.59%
9.12%NOK 220.00NOK 180.00n/a3
Jul ’26NOK 207.00
NOK 206.67
-0.16%
9.12%NOK 220.00NOK 180.00NOK 145.003
Jun ’26NOK 200.00
NOK 203.50
+1.75%
9.28%NOK 224.00NOK 180.00NOK 154.804
May ’26NOK 189.00
NOK 204.75
+8.33%
9.80%NOK 225.00NOK 180.00NOK 158.604
Apr ’26NOK 182.50
NOK 209.75
+14.93%
8.66%NOK 225.00NOK 180.00NOK 159.004
Mar ’26NOK 182.00
NOK 209.75
+15.25%
8.66%NOK 225.00NOK 180.00NOK 158.504
Feb ’26NOK 197.50
NOK 208.50
+5.57%
8.90%NOK 225.00NOK 180.00NOK 170.004
Jan ’26NOK 199.00
NOK 206.00
+3.52%
7.95%NOK 220.00NOK 180.00NOK 177.004
Dec ’25NOK 194.00
NOK 206.00
+6.19%
7.95%NOK 220.00NOK 180.00NOK 161.504
Nov ’25NOK 194.50
NOK 192.50
-1.03%
6.75%NOK 200.00NOK 170.00NOK 172.004
Oct ’25NOK 180.00
NOK 191.25
+6.25%
6.50%NOK 200.00NOK 170.00NOK 175.004
Sep ’25NOK 183.50
NOK 188.33
+2.63%
6.97%NOK 200.00NOK 170.00NOK 180.003
Aug ’25NOK 169.00
NOK 163.33
-3.35%
8.03%NOK 175.00NOK 145.00NOK 210.003
Jul ’25NOK 159.00
NOK 163.33
+2.73%
8.03%NOK 175.00NOK 145.00NOK 207.003
NOK 177.5
Fair Value
14.9% undervalued intrinsic discount
2
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/06 05:14
End of Day Share Price 2026/07/06 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

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 Github.

Analyst Sources

Multiconsult ASA is covered by 6 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.

AnalystInstitution
null nullABG Sundal Collier
Mikkel Nyholt-SmedsengCarnegie Investment Bank AB
Simen MortensenDNB Carnegie