Netel Holding Valuation

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

NETEL (SEK13.5) is trading below our estimate of [[fair value]] (SEK44.04)

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

Below Fair Value: NETEL (SEK13.5) is trading below our estimate of fair value (SEK44.04)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NETEL. This is calculated by dividing NETEL's market cap by their current earnings.
What is NETEL's PE Ratio?
PE Ratio	13.6x
Earnings	SEK 48.00m
Market Cap	SEK 647.15m

NETEL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.4x
Enterprise Value/EBITDA	8.7x
PEG Ratio	0.2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NETEL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	28.8x
NORB B Nordisk Bergteknik	40.3x	78.6%	SEK 732.6m
BYGGP ByggPartner Gruppen	21.2x	n/a	SEK 739.1m
TRAIN B Train Alliance	37.3x	n/a	SEK 1.5b
FG Fasadgruppen Group	16.3x	64.3%	SEK 2.0b
NETEL Netel Holding	13.6x	56.3%	SEK 647.1m

Price-To-Earnings vs Peers: NETEL is good value based on its Price-To-Earnings Ratio (13.6x) compared to the peer average (28.8x).

Price to Earnings Ratio vs Industry

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

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: NETEL is expensive based on its Price-To-Earnings Ratio (13.6x) compared to the European Construction industry average (12.9x).

Price to Earnings Ratio vs Fair Ratio

What is NETEL'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.

NETEL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	13.6x
Fair PE Ratio	40.7x

Price-To-Earnings vs Fair Ratio: NETEL is good value based on its Price-To-Earnings Ratio (13.6x) compared to the estimated Fair Price-To-Earnings Ratio (40.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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