QleanAir Valuation

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

QAIR (SEK27) is trading below our estimate of [[fair value]] (SEK51.69)

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

Below Fair Value: QAIR (SEK27) is trading below our estimate of fair value (SEK51.69)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for QAIR. This is calculated by dividing QAIR's market cap by their current preferred multiple.
What is QAIR's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	SEK 401.20m

QAIR 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	1.2x
Enterprise Value/EBITDA	10x
PEG Ratio	0.4x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for QAIR 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	17.5x
COOR Coor Service Management Holding	22.5x	32.7%	SEK 4.0b
BRAV Bravida Holding	15.8x	16.0%	SEK 17.4b
SVIK Studsvik	20.5x	19.7%	SEK 1.1b
OGUN B Ogunsen	11.4x	15.4%	SEK 332.1m
QAIR QleanAir	17.4x	47.4%	SEK 401.2m

Price-To-Earnings vs Peers: QAIR is good value based on its Price-To-Earnings Ratio (17.4x) compared to the peer average (17.5x).

Price to Earnings Ratio vs Industry

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

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	31.2%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	31.2%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: QAIR is expensive based on its Price-To-Earnings Ratio (17.4x) compared to the European Commercial Services industry average (13.4x).

Price to Earnings Ratio vs Fair Ratio

What is QAIR'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.

QAIR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	17.4x
Fair PE Ratio	27.2x

Price-To-Earnings vs Fair Ratio: QAIR is good value based on its Price-To-Earnings Ratio (17.4x) 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 QAIR 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 27.00	SEK 42.50 +57.4%	5.9%	SEK 45.00	SEK 40.00	n/a	2
Aug ’25	SEK 32.90	SEK 47.50 +44.4%	15.8%	SEK 55.00	SEK 40.00	n/a	2
Jul ’25	SEK 34.00	SEK 47.50 +39.7%	15.8%	SEK 55.00	SEK 40.00	n/a	2
Jun ’25	SEK 32.70	SEK 45.00 +37.6%	11.1%	SEK 50.00	SEK 40.00	n/a	2
May ’25	SEK 31.40	SEK 45.00 +43.3%	11.1%	SEK 50.00	SEK 40.00	n/a	2
Apr ’25	SEK 33.55	SEK 45.00 +34.1%	11.1%	SEK 50.00	SEK 40.00	n/a	2
Mar ’25	SEK 30.80	SEK 45.00 +46.1%	11.1%	SEK 50.00	SEK 40.00	n/a	2
Feb ’25	SEK 32.00	SEK 45.00 +40.6%	11.1%	SEK 50.00	SEK 40.00	n/a	2
Jan ’25	SEK 32.75	SEK 45.00 +37.4%	11.1%	SEK 50.00	SEK 40.00	n/a	2
Dec ’24	SEK 30.45	SEK 45.00 +47.8%	11.1%	SEK 50.00	SEK 40.00	n/a	2
Nov ’24	SEK 33.30	SEK 54.00 +62.2%	16.7%	SEK 63.00	SEK 45.00	n/a	2
Oct ’24	SEK 34.50	SEK 54.00 +56.5%	16.7%	SEK 63.00	SEK 45.00	n/a	2
Sep ’24	SEK 33.75	SEK 54.00 +60.0%	16.7%	SEK 63.00	SEK 45.00	n/a	2
Aug ’24	SEK 25.60	SEK 52.50 +105.1%	14.3%	SEK 60.00	SEK 45.00	SEK 32.90	2
Jul ’24	SEK 24.10	SEK 52.50 +117.8%	14.3%	SEK 60.00	SEK 45.00	SEK 34.00	2
Jun ’24	SEK 23.80	SEK 52.50 +120.6%	14.3%	SEK 60.00	SEK 45.00	SEK 32.70	2
May ’24	SEK 19.70	SEK 50.00 +153.8%	10.0%	SEK 55.00	SEK 45.00	SEK 31.40	2
Apr ’24	SEK 19.80	SEK 50.00 +152.5%	10.0%	SEK 55.00	SEK 45.00	SEK 33.55	2
Mar ’24	SEK 22.80	SEK 50.00 +119.3%	10.0%	SEK 55.00	SEK 45.00	SEK 30.80	2
Nov ’23	SEK 24.45	SEK 67.50 +176.1%	3.7%	SEK 70.00	SEK 65.00	SEK 33.30	2
Oct ’23	SEK 22.90	SEK 67.50 +194.8%	3.7%	SEK 70.00	SEK 65.00	SEK 34.50	2
Sep ’23	SEK 25.35	SEK 67.50 +166.3%	3.7%	SEK 70.00	SEK 65.00	SEK 33.75	2
Aug ’23	SEK 37.05	SEK 77.50 +109.2%	0.6%	SEK 78.00	SEK 77.00	SEK 25.60	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.