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

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

Below Fair Value: MTG B (SEK75) is trading below our estimate of fair value (SEK105.12)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MTG B. This is calculated by dividing MTG B's market cap by their current preferred multiple.
What is MTG B's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	SEK 8.99b

MTG B 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	1.1x
Enterprise Value/EBITDA	4.1x
PEG Ratio	n/a

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.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	2.2x
PDX Paradox Interactive	6.9x	9.1%	SEK 17.1b
SF Stillfront Group	0.5x	0.4%	SEK 3.5b
EMBRAC B Embracer Group	0.8x	3.3%	SEK 32.8b
EG7 Enad Global 7	0.7x	15.5%	SEK 1.3b
MTG B Modern Times Group MTG	1.5x	4.1%	SEK 9.0b

Price-To-Sales vs Peers: MTG B is good value based on its Price-To-Sales Ratio (1.5x) compared to the peer average (2.2x).

Price to Earnings Ratio vs Industry

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

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	80.5%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	80.5%
	n/a	n/a	n/a

No more companies

Price-To-Sales vs Industry: MTG B is expensive based on its Price-To-Sales Ratio (1.5x) compared to the Swedish Entertainment industry average (0.6x).

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 Ratio	1.5x
Fair PS Ratio	2x

Price-To-Sales vs Fair Ratio: MTG B is good value based on its Price-To-Sales Ratio (1.5x) compared to the estimated Fair Price-To-Sales Ratio (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 MTG B 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 75.00	SEK 122.20 +62.9%	13.9%	SEK 155.00	SEK 108.00	n/a	5
Sep ’25	SEK 77.15	SEK 122.20 +58.4%	13.9%	SEK 155.00	SEK 108.00	n/a	5
Aug ’25	SEK 80.50	SEK 122.20 +51.8%	13.9%	SEK 155.00	SEK 108.00	n/a	5
Jul ’25	SEK 83.45	SEK 120.00 +43.8%	7.4%	SEK 135.00	SEK 110.00	n/a	5
Jun ’25	SEK 93.50	SEK 118.80 +27.1%	9.5%	SEK 135.00	SEK 100.00	n/a	5
May ’25	SEK 94.95	SEK 118.80 +25.1%	9.5%	SEK 135.00	SEK 100.00	n/a	5
Apr ’25	SEK 83.60	SEK 113.00 +35.2%	11.7%	SEK 135.00	SEK 100.00	n/a	4
Mar ’25	SEK 74.25	SEK 113.00 +52.2%	11.7%	SEK 135.00	SEK 100.00	n/a	4
Feb ’25	SEK 81.05	SEK 108.75 +34.2%	14.3%	SEK 135.00	SEK 95.00	n/a	4
Jan ’25	SEK 86.15	SEK 108.75 +26.2%	11.9%	SEK 130.00	SEK 95.00	n/a	4
Dec ’24	SEK 87.00	SEK 108.75 +25.0%	11.9%	SEK 130.00	SEK 95.00	n/a	4
Nov ’24	SEK 89.95	SEK 108.75 +20.9%	11.9%	SEK 130.00	SEK 95.00	n/a	4
Oct ’24	SEK 73.90	SEK 103.75 +40.4%	15.0%	SEK 130.00	SEK 90.00	n/a	4
Sep ’24	SEK 76.10	SEK 103.75 +36.3%	15.0%	SEK 130.00	SEK 90.00	SEK 77.15	4
Aug ’24	SEK 69.25	SEK 103.75 +49.8%	15.0%	SEK 130.00	SEK 90.00	SEK 80.50	4
Jul ’24	SEK 68.75	SEK 102.25 +48.7%	16.5%	SEK 130.00	SEK 85.00	SEK 83.45	4
Jun ’24	SEK 69.75	SEK 102.25 +46.6%	16.5%	SEK 130.00	SEK 85.00	SEK 93.50	4
May ’24	SEK 82.35	SEK 102.25 +24.2%	16.5%	SEK 130.00	SEK 85.00	SEK 94.95	4
Apr ’24	SEK 75.28	SEK 103.00 +36.8%	15.8%	SEK 130.00	SEK 87.00	SEK 83.60	4
Mar ’24	SEK 71.70	SEK 103.00 +43.7%	15.8%	SEK 130.00	SEK 87.00	SEK 74.25	4
Feb ’24	SEK 91.70	SEK 112.50 +22.7%	9.7%	SEK 130.00	SEK 100.00	SEK 81.05	4
Jan ’24	SEK 89.10	SEK 120.50 +35.2%	9.6%	SEK 140.00	SEK 110.00	SEK 86.15	4
Dec ’23	SEK 82.41	SEK 120.50 +46.2%	9.6%	SEK 140.00	SEK 110.00	SEK 87.00	4
Nov ’23	SEK 84.51	SEK 120.50 +42.6%	9.6%	SEK 140.00	SEK 110.00	SEK 89.95	4
Oct ’23	SEK 73.91	SEK 129.50 +75.2%	8.4%	SEK 140.00	SEK 115.00	SEK 73.90	4
Sep ’23	SEK 89.80	SEK 129.50 +44.2%	8.4%	SEK 140.00	SEK 115.00	SEK 76.10	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.