Norva24 Group Valuation

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

Below Fair Value: NORVA (SEK27.5) is trading below our estimate of fair value (SEK54.24)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NORVA. This is calculated by dividing NORVA's market cap by their current earnings.
What is NORVA's PE Ratio?
PE Ratio	26x
Earnings	NOK 194.30m
Market Cap	NOK 5.06b

NORVA 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	1.9x
Enterprise Value/EBITDA	12.9x
PEG Ratio	1.2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NORVA 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	38.1x
GREEN Green Landscaping Group	17.8x	20.6%	SEK 4.1b
SDIP B Sdiptech	22.9x	21.7%	SEK 9.2b
SVIK Studsvik	33.5x	45.6%	SEK 984.6m
SES Scandinavian Enviro Systems	78.3x	-69.4%	SEK 1.5b
NORVA Norva24 Group	26x	21.5%	SEK 5.0b

Price-To-Earnings vs Peers: NORVA is good value based on its Price-To-Earnings Ratio (26x) compared to the peer average (38.1x).

Price to Earnings Ratio vs Industry

How does NORVA's PE Ratio compare vs other companies in the European Commercial Services Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: NORVA is expensive based on its Price-To-Earnings Ratio (26x) compared to the European Commercial Services industry average (14.7x).

Price to Earnings Ratio vs Fair Ratio

What is NORVA'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.

NORVA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	26x
Fair PE Ratio	22.6x

Price-To-Earnings vs Fair Ratio: NORVA is expensive based on its Price-To-Earnings Ratio (26x) compared to the estimated Fair Price-To-Earnings Ratio (22.6x).

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 NORVA forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	SEK 27.50	SEK 36.00 +30.9%	3.5%	SEK 37.00	SEK 34.00	n/a	5
Nov ’25	SEK 31.20	SEK 37.00 +18.6%	4.5%	SEK 39.00	SEK 34.00	n/a	5
Oct ’25	SEK 29.10	SEK 37.00 +27.1%	4.5%	SEK 39.00	SEK 34.00	n/a	5
Sep ’25	SEK 31.25	SEK 36.80 +17.8%	4.7%	SEK 39.00	SEK 34.00	n/a	5
Aug ’25	SEK 30.65	SEK 35.00 +14.2%	8.7%	SEK 38.00	SEK 30.00	n/a	5
Jul ’25	SEK 29.60	SEK 34.25 +15.7%	8.6%	SEK 37.00	SEK 30.00	n/a	4
Jun ’25	SEK 29.95	SEK 33.75 +12.7%	9.7%	SEK 37.00	SEK 30.00	n/a	4
May ’25	SEK 25.70	SEK 32.75 +27.4%	9.3%	SEK 37.00	SEK 29.00	n/a	4
Apr ’25	SEK 25.50	SEK 32.75 +28.4%	9.3%	SEK 37.00	SEK 29.00	n/a	4
Mar ’25	SEK 25.65	SEK 32.75 +27.7%	9.3%	SEK 37.00	SEK 29.00	n/a	4
Feb ’25	SEK 27.90	SEK 31.50 +12.9%	10.2%	SEK 35.00	SEK 27.00	n/a	4
Jan ’25	SEK 23.70	SEK 31.50 +32.9%	10.2%	SEK 35.00	SEK 27.00	n/a	4
Dec ’24	SEK 22.95	SEK 31.50 +37.3%	10.2%	SEK 35.00	SEK 27.00	n/a	4
Nov ’24	SEK 18.36	SEK 29.00 +58.0%	15.6%	SEK 34.00	SEK 24.00	SEK 31.20	4
Oct ’24	SEK 19.22	SEK 29.00 +50.9%	15.6%	SEK 34.00	SEK 24.00	SEK 29.10	4
Sep ’24	SEK 24.25	SEK 30.00 +23.7%	12.2%	SEK 34.00	SEK 25.00	SEK 31.25	4
Aug ’24	SEK 26.55	SEK 34.50 +29.9%	13.7%	SEK 42.00	SEK 30.00	SEK 30.65	4
Jul ’24	SEK 24.90	SEK 34.50 +38.6%	13.7%	SEK 42.00	SEK 30.00	SEK 29.60	4
Jun ’24	SEK 25.75	SEK 35.25 +36.9%	12.3%	SEK 42.00	SEK 30.00	SEK 29.95	4
May ’24	SEK 28.10	SEK 36.00 +28.1%	9.8%	SEK 42.00	SEK 33.00	SEK 25.70	4
Apr ’24	SEK 29.00	SEK 36.00 +24.1%	9.8%	SEK 42.00	SEK 33.00	SEK 25.50	4
Mar ’24	SEK 31.00	SEK 38.25 +23.4%	9.3%	SEK 42.00	SEK 33.00	SEK 25.65	4
Feb ’24	SEK 35.68	SEK 38.00 +6.5%	4.9%	SEK 41.00	SEK 36.00	SEK 27.90	4
Jan ’24	SEK 33.80	SEK 38.00 +12.4%	4.9%	SEK 41.00	SEK 36.00	SEK 23.70	4
Dec ’23	SEK 32.62	SEK 37.00 +13.4%	6.0%	SEK 40.00	SEK 34.00	SEK 22.95	4
Nov ’23	SEK 31.54	SEK 37.00 +17.3%	5.1%	SEK 39.00	SEK 34.00	SEK 18.36	4

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.