Instalco AB (publ)

OM:INSTAL Stock Report

Market Cap: SEK 7.7b

Instalco Valuation

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

Valuation Score

5/6

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

Below Fair Value: INSTAL (SEK28.86) is trading below our estimate of fair value (SEK106.5)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for INSTAL. This is calculated by dividing INSTAL's market cap by their current earnings.
What is INSTAL's PE Ratio?
PE Ratio15.6x
EarningsSEK 491.00m
Market CapSEK 7.68b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for INSTAL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.4x
NCC B NCC
12.6x6.4%SEK 15.8b
FG Fasadgruppen Group
16.2x64.3%SEK 2.0b
PEAB B Peab
15.7x10.4%SEK 23.7b
NYAB Nyab
29.2x26.8%SEK 3.8b
INSTAL Instalco
15.5x22.8%SEK 7.7b

Price-To-Earnings vs Peers: INSTAL is good value based on its Price-To-Earnings Ratio (15.5x) compared to the peer average (18.4x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
INSTAL 15.6xIndustry Avg. 12.8xNo. of Companies19PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: INSTAL is expensive based on its Price-To-Earnings Ratio (15.5x) compared to the European Construction industry average (12.8x).

Price to Earnings Ratio vs Fair Ratio

What is INSTAL'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.

INSTAL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.6x
Fair PE Ratio25.1x

Price-To-Earnings vs Fair Ratio: INSTAL is good value based on its Price-To-Earnings Ratio (15.5x) compared to the estimated Fair Price-To-Earnings Ratio (25.1x).

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 INSTAL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 28.86
SEK 51.67
+79.0%
4.6%SEK 55.00SEK 50.00n/a3
Nov ’25SEK 32.46
SEK 49.00
+51.0%
10.9%SEK 55.00SEK 42.00n/a3
Oct ’25SEK 41.54
SEK 52.75
+27.0%
11.9%SEK 58.00SEK 42.00n/a4
Sep ’25SEK 45.80
SEK 52.25
+14.1%
13.7%SEK 58.00SEK 40.00n/a4
Aug ’25SEK 49.52
SEK 48.50
-2.1%
11.8%SEK 56.00SEK 40.00n/a4
Jul ’25SEK 40.96
SEK 48.50
+18.4%
11.8%SEK 56.00SEK 40.00n/a4
Jun ’25SEK 39.96
SEK 48.50
+21.4%
11.8%SEK 56.00SEK 40.00n/a4
May ’25SEK 39.12
SEK 49.33
+26.1%
13.8%SEK 56.00SEK 40.00n/a3
Apr ’25SEK 42.28
SEK 49.33
+16.7%
13.8%SEK 56.00SEK 40.00n/a3
Mar ’25SEK 37.72
SEK 49.33
+30.8%
13.8%SEK 56.00SEK 40.00n/a3
Feb ’25SEK 42.34
SEK 54.50
+28.7%
21.9%SEK 72.00SEK 40.00n/a4
Jan ’25SEK 40.90
SEK 54.00
+32.0%
22.7%SEK 72.00SEK 40.00n/a4
Dec ’24SEK 34.14
SEK 54.00
+58.2%
22.7%SEK 72.00SEK 40.00n/a4
Nov ’24SEK 32.06
SEK 55.25
+72.3%
19.8%SEK 72.00SEK 45.00SEK 32.464
Oct ’24SEK 32.50
SEK 61.00
+87.7%
16.7%SEK 72.00SEK 45.00SEK 41.544
Sep ’24SEK 35.96
SEK 63.50
+76.6%
10.2%SEK 72.00SEK 55.00SEK 45.804
Aug ’24SEK 41.30
SEK 72.75
+76.2%
10.9%SEK 86.00SEK 65.00SEK 49.524
Jul ’24SEK 53.85
SEK 73.50
+36.5%
9.9%SEK 86.00SEK 68.00SEK 40.964
Jun ’24SEK 55.35
SEK 73.50
+32.8%
9.9%SEK 86.00SEK 68.00SEK 39.964
May ’24SEK 53.80
SEK 66.25
+23.1%
10.8%SEK 78.00SEK 60.00SEK 39.124
Apr ’24SEK 49.98
SEK 65.50
+31.1%
11.1%SEK 78.00SEK 60.00SEK 42.284
Mar ’24SEK 49.36
SEK 65.50
+32.7%
11.1%SEK 78.00SEK 60.00SEK 37.724
Feb ’24SEK 41.37
SEK 59.25
+43.2%
14.0%SEK 71.00SEK 50.00SEK 42.344
Jan ’24SEK 39.63
SEK 59.25
+49.5%
14.0%SEK 71.00SEK 50.00SEK 40.904
Dec ’23SEK 43.00
SEK 59.75
+39.0%
14.4%SEK 71.00SEK 50.00SEK 34.144
Nov ’23SEK 45.34
SEK 65.67
+44.8%
11.8%SEK 75.00SEK 56.00SEK 32.063

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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