Skanska AB (publ)

OM:SKA B Stock Report

Market Cap: SEK 76.3b

Skanska Valuation

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

Below Fair Value: SKA B (SEK185.85) is trading below our estimate of fair value (SEK376.24)

Significantly Below Fair Value: SKA 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 SKA B?

Other financial metrics that can be useful for relative valuation.

SKA B 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/Revenue0.5x
Enterprise Value/EBITDA14.4x
PEG Ratio1.1x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SKA B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18x
SWEC B Sweco
33.5x16.4%SEK 53.5b
PEAB B Peab
10x-1.3%SEK 19.8b
NCC B NCC
10.2x1.0%SEK 13.5b
OX2 OX2
18.4x29.9%SEK 16.2b
SKA B Skanska
15.6x14.6%SEK 77.7b

Price-To-Earnings vs Peers: SKA B is good value based on its Price-To-Earnings Ratio (15.6x) compared to the peer average (18x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a15.9%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a15.9%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: SKA B is expensive based on its Price-To-Earnings Ratio (15.6x) compared to the European Construction industry average (12.9x).

Price to Earnings Ratio vs Fair Ratio

What is SKA 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.

SKA B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.6x
Fair PE Ratio27.1x

Price-To-Earnings vs Fair Ratio: SKA B is good value based on its Price-To-Earnings Ratio (15.6x) compared to the estimated Fair Price-To-Earnings Ratio (27.2x).

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 SKA B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 185.85
SEK 200.75
+8.0%
14.4%SEK 230.00SEK 155.00n/a8
Jun ’25SEK 185.25
SEK 200.75
+8.4%
14.4%SEK 230.00SEK 155.00n/a8
May ’25SEK 191.85
SEK 200.75
+4.6%
14.4%SEK 229.00SEK 155.00n/a8
Apr ’25SEK 190.50
SEK 200.63
+5.3%
14.4%SEK 228.00SEK 155.00n/a8
Mar ’25SEK 192.45
SEK 197.13
+2.4%
16.5%SEK 228.00SEK 152.00n/a8
Feb ’25SEK 181.70
SEK 184.38
+1.5%
16.7%SEK 216.00SEK 130.00n/a8
Jan ’25SEK 182.35
SEK 173.75
-4.7%
18.7%SEK 221.00SEK 130.00n/a8
Dec ’24SEK 170.60
SEK 173.75
+1.8%
18.7%SEK 221.00SEK 130.00n/a8
Nov ’24SEK 146.60
SEK 178.38
+21.7%
19.3%SEK 226.00SEK 130.00n/a8
Oct ’24SEK 180.00
SEK 179.63
-0.2%
19.0%SEK 226.00SEK 132.00n/a8
Sep ’24SEK 159.15
SEK 168.50
+5.9%
18.8%SEK 210.00SEK 132.00n/a6
Aug ’24SEK 165.95
SEK 168.50
+1.5%
18.8%SEK 210.00SEK 132.00n/a6
Jul ’24SEK 151.15
SEK 173.67
+14.9%
18.2%SEK 210.00SEK 132.00SEK 189.406
Jun ’24SEK 142.15
SEK 173.67
+22.2%
18.2%SEK 210.00SEK 132.00SEK 185.256
May ’24SEK 167.40
SEK 185.67
+10.9%
17.6%SEK 240.00SEK 154.00SEK 191.856
Apr ’24SEK 158.55
SEK 185.67
+17.1%
17.6%SEK 240.00SEK 154.00SEK 190.506
Mar ’24SEK 191.00
SEK 185.67
-2.8%
17.6%SEK 240.00SEK 154.00SEK 192.456
Feb ’24SEK 186.70
SEK 163.33
-12.5%
20.7%SEK 210.00SEK 125.00SEK 181.706
Jan ’24SEK 165.00
SEK 161.67
-2.0%
19.6%SEK 210.00SEK 125.00SEK 182.356
Dec ’23SEK 170.30
SEK 161.67
-5.1%
19.6%SEK 210.00SEK 125.00SEK 170.606
Nov ’23SEK 170.65
SEK 162.83
-4.6%
19.2%SEK 210.00SEK 125.00SEK 146.606
Oct ’23SEK 139.50
SEK 183.40
+31.5%
16.8%SEK 230.00SEK 152.00SEK 180.005
Sep ’23SEK 153.80
SEK 183.40
+19.2%
16.8%SEK 230.00SEK 152.00SEK 159.155
Aug ’23SEK 168.50
SEK 183.40
+8.8%
16.8%SEK 230.00SEK 152.00SEK 165.955
Jul ’23SEK 155.05
SEK 218.20
+40.7%
19.1%SEK 270.00SEK 146.00SEK 151.155

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

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