Afry Valuation
Is AFRY undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
6/6Valuation Score 6/6
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 AFRY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: AFRY (SEK155.5) is trading below our estimate of fair value (SEK408.1)
Significantly Below Fair Value: AFRY is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for AFRY?
Key metric: As AFRY is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is AFRY's PE Ratio? | |
|---|---|
| PE Ratio | 14.7x |
| Earnings | SEK 1.20b |
| Market Cap | SEK 17.61b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 0.9x |
| Enterprise Value/EBITDA | 10.4x |
| PEG Ratio | 0.8x |
Price to Earnings Ratio vs Peers
How does AFRY's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 17x | ||
REJL B Rejlers | 15.1x | 13.6% | SEK 3.2b |
SIBEK Sibek | 23.3x | n/a | SEK 502.6m |
BRAV Bravida Holding | 15.2x | 17.0% | SEK 15.9b |
LOOMIS Loomis | 14.6x | 18.9% | SEK 22.7b |
AFRY Afry | 14.7x | 18.9% | SEK 17.6b |
Price-To-Earnings vs Peers: AFRY is good value based on its Price-To-Earnings Ratio (14.7x) compared to the peer average (17x).
Price to Earnings Ratio vs Industry
How does AFRY's PE Ratio compare vs other companies in the European Professional Services Industry?
| 4 Companies | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 4 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Earnings vs Industry: AFRY is good value based on its Price-To-Earnings Ratio (14.7x) compared to the European Professional Services industry average (18.4x).
Price to Earnings Ratio vs Fair Ratio
What is AFRY'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 14.7x |
| Fair PE Ratio | 25.5x |
Price-To-Earnings vs Fair Ratio: AFRY is good value based on its Price-To-Earnings Ratio (14.7x) compared to the estimated Fair Price-To-Earnings Ratio (25.5x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | SEK 155.50 | SEK 220.40 +41.7% | 11.8% | SEK 270.00 | SEK 200.00 | n/a | 5 |
| Nov ’25 | SEK 158.30 | SEK 220.40 +39.2% | 11.8% | SEK 270.00 | SEK 200.00 | n/a | 5 |
| Oct ’25 | SEK 179.00 | SEK 227.00 +26.8% | 9.1% | SEK 270.00 | SEK 204.00 | n/a | 6 |
| Sep ’25 | SEK 184.00 | SEK 222.40 +20.9% | 1.7% | SEK 230.00 | SEK 220.00 | n/a | 5 |
| Aug ’25 | SEK 190.10 | SEK 222.40 +17.0% | 1.7% | SEK 230.00 | SEK 220.00 | n/a | 5 |
| Jul ’25 | SEK 191.70 | SEK 204.40 +6.6% | 1.6% | SEK 210.00 | SEK 200.00 | n/a | 5 |
| Jun ’25 | SEK 190.20 | SEK 200.80 +5.6% | 1.5% | SEK 205.00 | SEK 196.00 | n/a | 5 |
| May ’25 | SEK 175.40 | SEK 200.80 +14.5% | 1.5% | SEK 205.00 | SEK 196.00 | n/a | 5 |
| Apr ’25 | SEK 171.00 | SEK 202.50 +18.4% | 1.2% | SEK 205.00 | SEK 200.00 | n/a | 4 |
| Mar ’25 | SEK 164.30 | SEK 193.75 +17.9% | 7.2% | SEK 205.00 | SEK 170.00 | n/a | 4 |
| Feb ’25 | SEK 143.00 | SEK 168.75 +18.0% | 22.6% | SEK 205.00 | SEK 110.00 | n/a | 4 |
| Jan ’25 | SEK 139.70 | SEK 168.75 +20.8% | 22.6% | SEK 205.00 | SEK 110.00 | n/a | 4 |
| Dec ’24 | SEK 127.10 | SEK 167.50 +31.8% | 23.9% | SEK 205.00 | SEK 105.00 | n/a | 4 |
| Nov ’24 | SEK 116.90 | SEK 173.75 +48.6% | 26.9% | SEK 230.00 | SEK 105.00 | SEK 158.30 | 4 |
| Oct ’24 | SEK 128.40 | SEK 193.00 +50.3% | 17.2% | SEK 230.00 | SEK 150.00 | SEK 179.00 | 4 |
| Sep ’24 | SEK 143.30 | SEK 223.33 +55.9% | 2.1% | SEK 230.00 | SEK 220.00 | SEK 184.00 | 3 |
| Aug ’24 | SEK 144.10 | SEK 223.33 +55.0% | 2.1% | SEK 230.00 | SEK 220.00 | SEK 190.10 | 3 |
| Jul ’24 | SEK 159.20 | SEK 226.67 +42.4% | 2.1% | SEK 230.00 | SEK 220.00 | SEK 191.70 | 3 |
| Jun ’24 | SEK 168.00 | SEK 225.00 +33.9% | 2.2% | SEK 230.00 | SEK 220.00 | SEK 190.20 | 2 |
| May ’24 | SEK 192.50 | SEK 223.33 +16.0% | 3.8% | SEK 235.00 | SEK 215.00 | SEK 175.40 | 3 |
| Apr ’24 | SEK 186.70 | SEK 219.67 +17.7% | 1.7% | SEK 224.00 | SEK 215.00 | SEK 171.00 | 3 |
| Mar ’24 | SEK 184.00 | SEK 220.33 +19.7% | 2.0% | SEK 226.00 | SEK 215.00 | SEK 164.30 | 3 |
| Feb ’24 | SEK 192.10 | SEK 219.67 +14.4% | 1.7% | SEK 224.00 | SEK 215.00 | SEK 143.00 | 3 |
| Jan ’24 | SEK 170.90 | SEK 220.33 +28.9% | 2.0% | SEK 226.00 | SEK 215.00 | SEK 139.70 | 3 |
| Dec ’23 | SEK 176.00 | SEK 220.33 +25.2% | 2.0% | SEK 226.00 | SEK 215.00 | SEK 127.10 | 3 |
| Nov ’23 | SEK 152.20 | SEK 220.33 +44.8% | 2.0% | SEK 226.00 | SEK 215.00 | SEK 116.90 | 3 |
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.