Vestum AB (publ)

OM:VESTUM Stock Report

Market Cap: SEK 4.0b

Vestum Valuation

Is VESTUM 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: VESTUM (SEK10.52) is trading below our estimate of fair value (SEK39.56)

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

Key Valuation Metric

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

Key metric: As VESTUM is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for VESTUM. This is calculated by dividing VESTUM's market cap by their current revenue.
What is VESTUM's PS Ratio?
PS Ratio0.7x
SalesSEK 5.45b
Market CapSEK 3.95b

Price to Sales Ratio vs Peers

How does VESTUM's PS Ratio compare to its peers?

The above table shows the PS ratio for VESTUM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.7x
NYAB Nyab
1x11.3%SEK 3.8b
FG Fasadgruppen Group
0.4x14.3%SEK 2.0b
INSTAL Instalco
0.5x4.5%SEK 7.6b
TRAIN B Train Alliance
8.7xn/aSEK 1.6b
VESTUM Vestum
0.7x5.5%SEK 4.0b

Price-To-Sales vs Peers: VESTUM is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (2.7x).

Price to Sales Ratio vs Industry

How does VESTUM's PS Ratio compare vs other companies in the European Construction Industry?

13 CompaniesPrice / SalesEstimated GrowthMarket Cap
VESTUM 0.7xIndustry Avg. 0.4xNo. of Companies26PS00.40.81.21.62+
13 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: VESTUM is expensive based on its Price-To-Sales Ratio (0.7x) compared to the European Construction industry average (0.4x).

Price to Sales Ratio vs Fair Ratio

What is VESTUM's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VESTUM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.7x
Fair PS Ratio1.4x

Price-To-Sales vs Fair Ratio: VESTUM is good value based on its Price-To-Sales Ratio (0.7x) compared to the estimated Fair Price-To-Sales Ratio (1.4x).

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 VESTUM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 10.52
SEK 12.67
+20.4%
3.7%SEK 13.00SEK 12.00n/a3
Nov ’25SEK 11.46
SEK 12.33
+7.6%
7.6%SEK 13.00SEK 11.00n/a3
Oct ’25SEK 10.18
SEK 11.33
+11.3%
11.0%SEK 13.00SEK 10.00n/a3
Sep ’25SEK 9.83
SEK 11.33
+15.3%
11.0%SEK 13.00SEK 10.00n/a3
Aug ’25SEK 9.70
SEK 11.67
+20.3%
8.1%SEK 13.00SEK 11.00n/a3
Jul ’25SEK 9.84
SEK 10.77
+9.4%
17.9%SEK 13.00SEK 8.30n/a3
Jun ’25SEK 9.30
SEK 9.77
+5.0%
23.4%SEK 13.00SEK 8.00n/a3
May ’25SEK 7.52
SEK 9.20
+22.3%
21.6%SEK 12.00SEK 7.60n/a3
Apr ’25SEK 8.94
SEK 10.00
+11.9%
20.0%SEK 12.00SEK 8.00n/a2
Aug ’24SEK 9.88
SEK 17.50
+77.2%
25.7%SEK 22.00SEK 13.00SEK 9.702
Jul ’24SEK 10.40
SEK 17.50
+68.3%
25.7%SEK 22.00SEK 13.00SEK 9.842
Jun ’24SEK 11.00
SEK 17.50
+59.1%
25.7%SEK 22.00SEK 13.00SEK 9.302
May ’24SEK 13.32
SEK 21.50
+61.4%
20.9%SEK 26.00SEK 17.00SEK 7.522
Apr ’24SEK 12.82
SEK 21.50
+67.8%
20.9%SEK 26.00SEK 17.00SEK 8.942
Mar ’24SEK 16.08
SEK 21.50
+33.7%
20.9%SEK 26.00SEK 17.00SEK 9.002
Feb ’24SEK 18.61
SEK 21.50
+15.6%
20.9%SEK 26.00SEK 17.00SEK 8.002
Jan ’24SEK 17.27
SEK 20.50
+18.7%
17.1%SEK 24.00SEK 17.00SEK 7.252
Dec ’23SEK 18.76
SEK 20.50
+9.3%
17.1%SEK 24.00SEK 17.00SEK 4.692

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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