Multiconsult Valuation
Is MULTI undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
5/6Valuation 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 MULTI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: MULTI (NOK187) is trading below our estimate of fair value (NOK518.6)
Significantly Below Fair Value: MULTI is trading below fair 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.
| What is MULTI's PE Ratio? | |
|---|---|
| PE Ratio | 11.7x |
| Earnings | NOK 439.53m |
| Market Cap | NOK 5.13b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 1.2x |
| Enterprise Value/EBITDA | 10.5x |
| PEG Ratio | -3.8x |
Price to Earnings Ratio vs Peers
How does MULTI's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 36.6x | ||
ZAL Zalaris | 30.2x | n/a | NOK 1.5b |
301289 Shanghai National Center of Testing and Inspection for Electric Cable and Wire | 46.1x | n/a | CN¥3.6b |
FC Franklin Covey | 20x | -15.0% | US$468.0m |
301299 Sublime China Information | 50.2x | n/a | CN¥3.2b |
MULTI Multiconsult | 11.7x | -3.1% | NOK 5.1b |
Price-To-Earnings vs Peers: MULTI is good value based on its Price-To-Earnings Ratio (11.7x) compared to the peer average (36.6x).
Price to Earnings Ratio vs Industry
How does MULTI's PE Ratio compare vs other companies in the European Professional Services Industry?
| 4 Companies | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 4 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Earnings vs Industry: MULTI is good value based on its Price-To-Earnings Ratio (11.7x) compared to the European Professional Services industry average (18.3x).
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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 11.7x |
| Fair PE Ratio | 15.4x |
Price-To-Earnings vs Fair Ratio: MULTI is good value based on its Price-To-Earnings Ratio (11.7x) compared to the estimated Fair Price-To-Earnings Ratio (15.4x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | NOK 187.00 | NOK 206.00 +10.2% | 7.9% | NOK 220.00 | NOK 180.00 | n/a | 4 |
| Nov ’25 | NOK 194.50 | NOK 192.50 -1.0% | 6.7% | NOK 200.00 | NOK 170.00 | n/a | 4 |
| Oct ’25 | NOK 180.00 | NOK 191.25 +6.3% | 6.5% | NOK 200.00 | NOK 170.00 | n/a | 4 |
| Sep ’25 | NOK 183.50 | NOK 188.33 +2.6% | 7.0% | NOK 200.00 | NOK 170.00 | n/a | 3 |
| Aug ’25 | NOK 169.00 | NOK 163.33 -3.4% | 8.0% | NOK 175.00 | NOK 145.00 | n/a | 3 |
| Jul ’25 | NOK 159.00 | NOK 163.33 +2.7% | 8.0% | NOK 175.00 | NOK 145.00 | n/a | 3 |
| Jun ’25 | NOK 149.50 | NOK 160.00 +7.0% | 6.8% | NOK 170.00 | NOK 145.00 | n/a | 3 |
| May ’25 | NOK 141.00 | NOK 151.67 +7.6% | 7.8% | NOK 160.00 | NOK 135.00 | n/a | 3 |
| Apr ’25 | NOK 148.00 | NOK 151.67 +2.5% | 7.8% | NOK 160.00 | NOK 135.00 | n/a | 3 |
| Mar ’25 | NOK 145.00 | NOK 151.67 +4.6% | 7.8% | NOK 160.00 | NOK 135.00 | n/a | 3 |
| Feb ’25 | NOK 124.50 | NOK 150.00 +20.5% | 7.2% | NOK 160.00 | NOK 135.00 | n/a | 3 |
| Jan ’25 | NOK 124.00 | NOK 151.67 +22.3% | 5.6% | NOK 160.00 | NOK 140.00 | n/a | 3 |
| Dec ’24 | NOK 120.00 | NOK 151.67 +26.4% | 5.6% | NOK 160.00 | NOK 140.00 | n/a | 3 |
| Nov ’24 | NOK 125.00 | NOK 171.67 +37.3% | 14.3% | NOK 200.00 | NOK 140.00 | NOK 194.50 | 3 |
| Oct ’24 | NOK 134.00 | NOK 171.67 +28.1% | 14.3% | NOK 200.00 | NOK 140.00 | NOK 180.00 | 3 |
| Sep ’24 | NOK 139.00 | NOK 171.67 +23.5% | 14.3% | NOK 200.00 | NOK 140.00 | NOK 183.50 | 3 |
| Aug ’24 | NOK 155.00 | NOK 175.00 +12.9% | 16.3% | NOK 200.00 | NOK 135.00 | NOK 169.00 | 3 |
| Jul ’24 | NOK 154.00 | NOK 175.00 +13.6% | 16.3% | NOK 200.00 | NOK 135.00 | NOK 159.00 | 3 |
| Jun ’24 | NOK 160.00 | NOK 175.00 +9.4% | 16.3% | NOK 200.00 | NOK 135.00 | NOK 149.50 | 3 |
| May ’24 | NOK 149.50 | NOK 156.67 +4.8% | 10.5% | NOK 175.00 | NOK 135.00 | NOK 141.00 | 3 |
| Apr ’24 | NOK 147.60 | NOK 155.00 +5.0% | 9.5% | NOK 170.00 | NOK 135.00 | NOK 148.00 | 3 |
| Mar ’24 | NOK 142.00 | NOK 147.50 +3.9% | 8.5% | NOK 160.00 | NOK 135.00 | NOK 145.00 | 2 |
| Feb ’24 | NOK 132.80 | NOK 147.50 +11.1% | 8.5% | NOK 160.00 | NOK 135.00 | NOK 124.50 | 2 |
| Jan ’24 | NOK 139.00 | NOK 147.50 +6.1% | 8.5% | NOK 160.00 | NOK 135.00 | NOK 124.00 | 2 |
| Dec ’23 | NOK 135.80 | NOK 147.50 +8.6% | 8.5% | NOK 160.00 | NOK 135.00 | NOK 120.00 | 2 |
| Nov ’23 | NOK 120.80 | NOK 155.00 +28.3% | 9.7% | NOK 170.00 | NOK 140.00 | NOK 125.00 | 2 |
Analyst Forecast: Target price is less than 20% higher than the current share price.