Munters Group AB (publ)

OM:MTRS Stock Report

Market Cap: SEK 26.6b

Munters Group Valuation

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

Discounted Cash Flow
Simply Wall St
SEK 186.69
Fair Value
22.0% undervalued intrinsic discount
5
Number of Analysts

Below Fair Value: MTRS (SEK145.6) is trading below our estimate of fair value (SEK186.69)

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

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 Ratio27.3x
EarningsSEK 973.00m
Market CapSEK 26.58b

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 Average31.3x
SYSR Systemair
30x19.7%SEK 18.2b
LIAB Lindab International
49.3x38.6%SEK 15.5b
INWI Inwido
22.8x14.8%SEK 12.3b
NMAN Nederman Holding
23.2xn/aSEK 8.0b
MTRS Munters Group
27.3x17.9%SEK 26.6b

Price-To-Earnings vs Peers: MTRS is good value based on its Price-To-Earnings Ratio (27.3x) compared to the peer average (31.3x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MTRS 27.3xIndustry Avg. 21.9xNo. of Companies9PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MTRS is expensive based on its Price-To-Earnings Ratio (27.3x) compared to the European Building industry average (22.2x).

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 Ratio27.3x
Fair PE Ratio30x

Price-To-Earnings vs Fair Ratio: MTRS is good value based on its Price-To-Earnings Ratio (27.3x) compared to the estimated Fair Price-To-Earnings Ratio (30x).

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 145.60
SEK 207.80
+42.7%
16.2%SEK 250.00SEK 150.00n/a5
Feb ’26SEK 177.70
SEK 218.00
+22.7%
17.7%SEK 270.00SEK 155.00n/a5
Jan ’26SEK 186.00
SEK 211.00
+13.4%
15.7%SEK 260.00SEK 160.00n/a5
Dec ’25SEK 173.40
SEK 211.00
+21.7%
15.7%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 155.00SEK 177.704
Jan ’25SEK 163.50
SEK 160.00
-2.1%
5.8%SEK 175.00SEK 150.00SEK 186.004
Dec ’24SEK 147.50
SEK 156.25
+5.9%
2.7%SEK 160.00SEK 150.00SEK 173.404
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
Analyst Price Target
Consensus Narrative from 5 Analysts
SEK 207.80
Fair Value
29.9% undervalued intrinsic discount
5
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/20 16:14
End of Day Share Price 2025/02/20 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Munters Group AB (publ) is covered by 10 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Karl VikströmBerenberg
Kenneth Toll JohanssonCarnegie Investment Bank AB