Modern Times Group MTG AB

OM:MTG B Stock Report

Market Cap: SEK 11.2b

Modern Times Group MTG Valuation

Is MTG B undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: MTG B (SEK94.3) is trading above our estimate of fair value (SEK8.86)

Significantly Below Fair Value: MTG B is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for MTG B. This is calculated by dividing MTG B's market cap by their current revenue.
What is MTG B's PS Ratio?
PS Ratio1.9x
SalesSEK 5.89b
Market CapSEK 11.19b

Price to Sales Ratio vs Peers

How does MTG B's PS Ratio compare to its peers?

The above table shows the PS ratio for MTG B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.7x
PDX Paradox Interactive
8.5x9.5%SEK 21.1b
SF Stillfront Group
0.6x-1.5%SEK 4.1b
EMBRAC B Embracer Group
1.1x3.2%SEK 41.1b
EG7 Enad Global 7
0.8x17.2%SEK 1.4b
MTG B Modern Times Group MTG
1.9x4.1%SEK 11.2b

Price-To-Sales vs Peers: MTG B is good value based on its Price-To-Sales Ratio (1.9x) compared to the peer average (2.7x).

Price to Sales Ratio vs Industry

How does MTG B's PS Ratio compare vs other companies in the SE Entertainment Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
AIK B AIK Fotboll
0.1xn/aUS$3.28m
MAXENT B Maximum Entertainment
0.03x9.3%US$2.90m
No more companies available in this PS range
MTG B 1.9xIndustry Avg. 0.7xNo. of Companies7PS00.61.21.82.43+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: MTG B is expensive based on its Price-To-Sales Ratio (1.9x) compared to the Swedish Entertainment industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is MTG B'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.

MTG B PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.9x
Fair PS Ratio1.9x

Price-To-Sales vs Fair Ratio: MTG B is good value based on its Price-To-Sales Ratio (1.9x) compared to the estimated Fair Price-To-Sales Ratio (1.9x).

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 MTG B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 94.30
SEK 125.80
+33.4%
14.0%SEK 155.00SEK 105.00n/a5
Dec ’25SEK 92.00
SEK 125.80
+36.7%
14.0%SEK 155.00SEK 105.00n/a5
Nov ’25SEK 76.75
SEK 119.80
+56.1%
15.4%SEK 155.00SEK 102.00n/a5
Oct ’25SEK 77.55
SEK 121.40
+56.5%
14.6%SEK 155.00SEK 104.00n/a5
Sep ’25SEK 77.15
SEK 122.20
+58.4%
13.9%SEK 155.00SEK 108.00n/a5
Aug ’25SEK 80.50
SEK 122.20
+51.8%
13.9%SEK 155.00SEK 108.00n/a5
Jul ’25SEK 83.45
SEK 120.00
+43.8%
7.4%SEK 135.00SEK 110.00n/a5
Jun ’25SEK 93.50
SEK 118.80
+27.1%
9.5%SEK 135.00SEK 100.00n/a5
May ’25SEK 94.95
SEK 118.80
+25.1%
9.5%SEK 135.00SEK 100.00n/a5
Apr ’25SEK 83.60
SEK 113.00
+35.2%
11.7%SEK 135.00SEK 100.00n/a4
Mar ’25SEK 74.25
SEK 113.00
+52.2%
11.7%SEK 135.00SEK 100.00n/a4
Feb ’25SEK 81.05
SEK 108.75
+34.2%
14.3%SEK 135.00SEK 95.00n/a4
Jan ’25SEK 86.15
SEK 108.75
+26.2%
11.9%SEK 130.00SEK 95.00n/a4
Dec ’24SEK 87.00
SEK 108.75
+25.0%
11.9%SEK 130.00SEK 95.00SEK 92.004
Nov ’24SEK 89.95
SEK 108.75
+20.9%
11.9%SEK 130.00SEK 95.00SEK 76.754
Oct ’24SEK 73.90
SEK 103.75
+40.4%
15.0%SEK 130.00SEK 90.00SEK 77.554
Sep ’24SEK 76.10
SEK 103.75
+36.3%
15.0%SEK 130.00SEK 90.00SEK 77.154
Aug ’24SEK 69.25
SEK 103.75
+49.8%
15.0%SEK 130.00SEK 90.00SEK 80.504
Jul ’24SEK 68.75
SEK 102.25
+48.7%
16.5%SEK 130.00SEK 85.00SEK 83.454
Jun ’24SEK 69.75
SEK 102.25
+46.6%
16.5%SEK 130.00SEK 85.00SEK 93.504
May ’24SEK 82.35
SEK 102.25
+24.2%
16.5%SEK 130.00SEK 85.00SEK 94.954
Apr ’24SEK 75.28
SEK 103.00
+36.8%
15.8%SEK 130.00SEK 87.00SEK 83.604
Mar ’24SEK 71.70
SEK 103.00
+43.7%
15.8%SEK 130.00SEK 87.00SEK 74.254
Feb ’24SEK 91.70
SEK 112.50
+22.7%
9.7%SEK 130.00SEK 100.00SEK 81.054
Jan ’24SEK 89.10
SEK 120.50
+35.2%
9.6%SEK 140.00SEK 110.00SEK 86.154
Dec ’23SEK 82.41
SEK 120.50
+46.2%
9.6%SEK 140.00SEK 110.00SEK 87.004

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 02:12
End of Day Share Price 2024/12/23 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Modern Times Group MTG AB is covered by 27 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Véronique Cabioc'h Le BrunAlphaValue
JULIEN ROCHBarclays
Natasha BrilliantBarclays