ASSA ABLOY AB (publ)

OM:ASSA B Stock Report

Market Cap: SEK 363.2b

ASSA ABLOY Valuation

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

Below Fair Value: ASSA B (SEK327.2) is trading below our estimate of fair value (SEK483.4)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ASSA B. This is calculated by dividing ASSA B's market cap by their current earnings.
What is ASSA B's PE Ratio?
PE Ratio23.7x
EarningsSEK 15.33b
Market CapSEK 363.22b

Price to Earnings Ratio vs Peers

How does ASSA B's PE Ratio compare to its peers?

The above table shows the PE ratio for ASSA B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average52.6x
NIBE B NIBE Industrier
116.7x56.5%SEK 91.9b
MTRS Munters Group
37x21.1%SEK 32.1b
SYSR Systemair
31x16.9%SEK 18.8b
LIAB Lindab International
25.9x28.5%SEK 17.1b
ASSA B ASSA ABLOY
23.7x9.5%SEK 363.2b

Price-To-Earnings vs Peers: ASSA B is good value based on its Price-To-Earnings Ratio (23.7x) compared to the peer average (52.6x).

Price to Earnings Ratio vs Industry

How does ASSA B's PE Ratio compare vs other companies in the European Building Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
ASSA B 23.7xIndustry Avg. 19.6xNo. of Companies13PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ASSA B is expensive based on its Price-To-Earnings Ratio (23.7x) compared to the European Building industry average (19.6x).

Price to Earnings Ratio vs Fair Ratio

What is ASSA B'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.

ASSA B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.7x
Fair PE Ratio28.2x

Price-To-Earnings vs Fair Ratio: ASSA B is good value based on its Price-To-Earnings Ratio (23.7x) compared to the estimated Fair Price-To-Earnings Ratio (28.2x).

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 ASSA B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 327.20
SEK 343.40
+5.0%
10.4%SEK 403.00SEK 284.00n/a20
Nov ’25SEK 334.30
SEK 342.15
+2.3%
10.6%SEK 403.00SEK 284.00n/a20
Oct ’25SEK 341.30
SEK 335.25
-1.8%
9.6%SEK 389.00SEK 277.00n/a20
Sep ’25SEK 331.10
SEK 331.79
+0.2%
8.2%SEK 373.00SEK 280.00n/a19
Aug ’25SEK 313.90
SEK 331.47
+5.6%
8.3%SEK 373.00SEK 280.00n/a19
Jul ’25SEK 300.30
SEK 327.05
+8.9%
8.5%SEK 373.00SEK 275.00n/a20
Jun ’25SEK 307.20
SEK 321.32
+4.6%
9.7%SEK 373.00SEK 275.00n/a19
May ’25SEK 295.00
SEK 318.33
+7.9%
9.7%SEK 361.00SEK 275.00n/a18
Apr ’25SEK 307.10
SEK 311.11
+1.3%
10.7%SEK 361.00SEK 265.00n/a19
Mar ’25SEK 294.50
SEK 305.20
+3.6%
9.4%SEK 360.00SEK 255.00n/a20
Feb ’25SEK 287.00
SEK 299.00
+4.2%
10.9%SEK 360.00SEK 240.00n/a19
Jan ’25SEK 290.30
SEK 285.89
-1.5%
11.1%SEK 340.00SEK 225.00n/a18
Dec ’24SEK 269.90
SEK 283.17
+4.9%
11.1%SEK 340.00SEK 225.00n/a18
Nov ’24SEK 239.70
SEK 280.33
+17.0%
10.5%SEK 327.00SEK 225.00SEK 334.3018
Oct ’24SEK 238.20
SEK 281.55
+18.2%
9.7%SEK 330.00SEK 230.00SEK 341.3020
Sep ’24SEK 248.20
SEK 281.38
+13.4%
10.4%SEK 330.00SEK 220.00SEK 331.1021
Aug ’24SEK 253.30
SEK 281.43
+11.1%
10.4%SEK 330.00SEK 220.00SEK 313.9021
Jul ’24SEK 259.00
SEK 276.55
+6.8%
10.6%SEK 335.00SEK 220.00SEK 300.3022
Jun ’24SEK 243.70
SEK 271.64
+11.5%
10.4%SEK 325.00SEK 220.00SEK 307.2022
May ’24SEK 243.90
SEK 273.00
+11.9%
10.1%SEK 325.00SEK 220.00SEK 295.0022
Apr ’24SEK 248.30
SEK 276.33
+11.3%
8.4%SEK 320.00SEK 230.00SEK 307.1021
Mar ’24SEK 253.70
SEK 276.38
+8.9%
7.7%SEK 320.00SEK 250.00SEK 294.5021
Feb ’24SEK 248.60
SEK 265.19
+6.7%
6.8%SEK 302.00SEK 240.00SEK 287.0021
Jan ’24SEK 223.70
SEK 262.35
+17.3%
7.1%SEK 300.00SEK 228.00SEK 290.3023
Dec ’23SEK 241.90
SEK 261.48
+8.1%
7.5%SEK 300.00SEK 228.00SEK 269.9023
Nov ’23SEK 222.70
SEK 263.00
+18.1%
9.0%SEK 315.00SEK 220.00SEK 239.7023

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

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