Munters Group AB (publ)

OM:MTRS Stock Report

Market Cap: SEK 30.4b

Munters Group Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: MTRS (SEK166.5) is trading below our estimate of fair value (SEK176.22)

Significantly Below Fair Value: MTRS is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MTRS. This is calculated by dividing MTRS's market cap by their current earnings.
What is MTRS's PE Ratio?
PE Ratio35.1x
EarningsSEK 865.00m
Market CapSEK 30.39b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MTRS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average49.9x
SYSR Systemair
29.4x16.9%SEK 18.0b
LIAB Lindab International
25.7x28.5%SEK 17.4b
NIBE B NIBE Industrier
124.4x56.5%SEK 96.5b
INWI Inwido
20x18.4%SEK 10.8b
MTRS Munters Group
35.1x21.1%SEK 30.4b

Price-To-Earnings vs Peers: MTRS is good value based on its Price-To-Earnings Ratio (35.1x) compared to the peer average (49.9x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
MTRS 35.1xIndustry Avg. 20.0xNo. of Companies13PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MTRS is expensive based on its Price-To-Earnings Ratio (35.1x) compared to the European Building industry average (19.9x).

Price to Earnings Ratio vs Fair Ratio

What is MTRS'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.

MTRS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.1x
Fair PE Ratio30.1x

Price-To-Earnings vs Fair Ratio: MTRS is expensive based on its Price-To-Earnings Ratio (35.1x) compared to the estimated Fair Price-To-Earnings Ratio (30.1x).

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 MTRS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 166.50
SEK 214.00
+28.5%
15.3%SEK 260.00SEK 160.00n/a5
Nov ’25SEK 174.00
SEK 227.00
+30.5%
8.2%SEK 260.00SEK 205.00n/a5
Oct ’25SEK 225.40
SEK 245.00
+8.7%
10.7%SEK 280.00SEK 215.00n/a4
Sep ’25SEK 215.80
SEK 245.00
+13.5%
10.7%SEK 280.00SEK 215.00n/a4
Aug ’25SEK 229.80
SEK 245.00
+6.6%
10.7%SEK 280.00SEK 215.00n/a4
Jul ’25SEK 198.30
SEK 220.00
+10.9%
17.1%SEK 260.00SEK 180.00n/a4
Jun ’25SEK 228.00
SEK 220.00
-3.5%
17.1%SEK 260.00SEK 180.00n/a4
May ’25SEK 223.00
SEK 196.25
-12.0%
8.9%SEK 225.00SEK 180.00n/a4
Apr ’25SEK 192.10
SEK 186.25
-3.0%
9.9%SEK 210.00SEK 160.00n/a4
Mar ’25SEK 188.30
SEK 180.00
-4.4%
7.1%SEK 195.00SEK 160.00n/a4
Feb ’25SEK 157.90
SEK 170.00
+7.7%
9.1%SEK 195.00SEK 155.00n/a4
Jan ’25SEK 163.50
SEK 160.00
-2.1%
5.8%SEK 175.00SEK 150.00n/a4
Dec ’24SEK 147.50
SEK 156.25
+5.9%
2.7%SEK 160.00SEK 150.00n/a4
Nov ’24SEK 136.20
SEK 148.75
+9.2%
5.0%SEK 160.00SEK 140.00SEK 174.004
Oct ’24SEK 140.50
SEK 143.80
+2.3%
4.2%SEK 155.00SEK 139.00SEK 225.405
Sep ’24SEK 130.40
SEK 143.80
+10.3%
4.2%SEK 155.00SEK 139.00SEK 215.805
Aug ’24SEK 134.70
SEK 143.80
+6.8%
4.2%SEK 155.00SEK 139.00SEK 229.805
Jul ’24SEK 122.30
SEK 122.00
-0.2%
8.8%SEK 135.00SEK 105.00SEK 198.305
Jun ’24SEK 130.20
SEK 118.00
-9.4%
6.3%SEK 125.00SEK 105.00SEK 228.005
May ’24SEK 100.40
SEK 114.80
+14.3%
7.3%SEK 125.00SEK 100.00SEK 223.005
Apr ’24SEK 95.55
SEK 106.00
+10.9%
14.9%SEK 123.00SEK 78.00SEK 192.105
Mar ’24SEK 100.30
SEK 106.00
+5.7%
14.9%SEK 123.00SEK 78.00SEK 188.305
Feb ’24SEK 101.10
SEK 109.40
+8.2%
15.1%SEK 125.00SEK 78.00SEK 157.905
Jan ’24SEK 102.90
SEK 99.00
-3.8%
13.6%SEK 120.00SEK 78.00SEK 163.505
Dec ’23SEK 94.00
SEK 96.00
+2.1%
10.0%SEK 105.00SEK 78.00SEK 147.505
Nov ’23SEK 86.60
SEK 96.00
+10.9%
10.0%SEK 105.00SEK 78.00SEK 136.205

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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