Pexip Holding ASA

OB:PEXIP Stock Report

Market Cap: NOK 4.5b

Pexip Holding Valuation

Is PEXIP 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: PEXIP (NOK43.9) is trading below our estimate of fair value (NOK119.7)

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

Key Valuation Metric

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

Key metric: As PEXIP is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PEXIP. This is calculated by dividing PEXIP's market cap by their current revenue.
What is PEXIP's PS Ratio?
PS Ratio4.2x
SalesNOK 1.07b
Market CapNOK 4.46b

Price to Sales Ratio vs Peers

How does PEXIP's PS Ratio compare to its peers?

The above table shows the PS ratio for PEXIP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average6.6x
SMCRT SmartCraft
10.3x15.3%NOK 4.9b
LINK LINK Mobility Group Holding
0.9x10.3%NOK 6.5b
MNTR Mintra Holding
3.3x1.4%NOK 891.0m
ELABS Elliptic Laboratories
11.8x70.1%NOK 1.1b
PEXIP Pexip Holding
4.2x12.6%NOK 4.5b

Price-To-Sales vs Peers: PEXIP is good value based on its Price-To-Sales Ratio (4.2x) compared to the peer average (6.6x).

Price to Sales Ratio vs Industry

How does PEXIP's PS Ratio compare vs other companies in the NO Software Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
QUEST Questback Group
0.3xn/aUS$4.30m
No more companies available in this PS range
PEXIP 4.2xIndustry Avg. 2.1xNo. of Companies2PS01.63.24.86.48+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PEXIP is expensive based on its Price-To-Sales Ratio (4.2x) compared to the European Software industry average (2.1x).

Price to Sales Ratio vs Fair Ratio

What is PEXIP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PEXIP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.2x
Fair PS Ratio1.7x

Price-To-Sales vs Fair Ratio: PEXIP is expensive based on its Price-To-Sales Ratio (4.2x) compared to the estimated Fair Price-To-Sales Ratio (1.7x).

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 PEXIP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 43.90
NOK 49.50
+12.8%
1.0%NOK 50.00NOK 49.00n/a2
Dec ’25NOK 45.15
NOK 49.50
+9.6%
1.0%NOK 50.00NOK 49.00n/a2
Nov ’25NOK 43.25
NOK 44.50
+2.9%
12.4%NOK 50.00NOK 39.00n/a2
Oct ’25NOK 38.00
NOK 44.50
+17.1%
12.4%NOK 50.00NOK 39.00n/a2
Sep ’25NOK 36.65
NOK 35.50
-3.1%
12.7%NOK 40.00NOK 31.00n/a2
Aug ’25NOK 30.35
NOK 33.00
+8.7%
6.1%NOK 35.00NOK 31.00n/a2
Jul ’25NOK 29.00
NOK 33.00
+13.8%
6.1%NOK 35.00NOK 31.00n/a2
Mar ’25NOK 26.90
NOK 30.00
+11.5%
16.7%NOK 35.00NOK 25.00n/a2
Feb ’25NOK 25.64
NOK 30.00
+17.0%
16.7%NOK 35.00NOK 25.00n/a2
Jan ’25NOK 25.90
NOK 26.50
+2.3%
13.2%NOK 30.00NOK 23.00n/a2
Dec ’24NOK 25.98
NOK 26.50
+2.0%
13.2%NOK 30.00NOK 23.00NOK 45.152
Nov ’24NOK 19.01
NOK 25.00
+31.5%
20.0%NOK 30.00NOK 20.00NOK 43.252
Oct ’24NOK 18.20
NOK 25.00
+37.4%
20.0%NOK 30.00NOK 20.00NOK 38.002
Sep ’24NOK 19.72
NOK 25.00
+26.8%
20.0%NOK 30.00NOK 20.00NOK 36.652
Aug ’24NOK 19.20
NOK 22.00
+14.6%
36.4%NOK 30.00NOK 14.00NOK 30.352
Jul ’24NOK 19.50
NOK 21.00
+7.7%
42.9%NOK 30.00NOK 12.00NOK 29.002
Jun ’24NOK 23.76
NOK 21.00
-11.6%
42.9%NOK 30.00NOK 12.00NOK 31.352
Mar ’24NOK 14.20
NOK 13.00
-8.5%
15.4%NOK 15.00NOK 11.00NOK 26.902
Feb ’24NOK 13.78
NOK 12.50
-9.3%
20.0%NOK 15.00NOK 10.00NOK 25.642
Jan ’24NOK 12.80
NOK 12.50
-2.3%
20.0%NOK 15.00NOK 10.00NOK 25.902
Dec ’23NOK 12.60
NOK 12.50
-0.8%
20.0%NOK 15.00NOK 10.00NOK 25.982

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 Analysis2024/12/30 09:20
End of Day Share Price 2024/12/30 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

Pexip Holding ASA is covered by 3 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mikael LaséenCarnegie Investment Bank AB
Dennis BerggrenPareto Securities
Olav RødevandPareto Securities