Storytel Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: STORY B (SEK68.2) is trading below our estimate of fair value (SEK216.65)

Significantly Below Fair Value: STORY 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 STORY B?

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

The above table shows the Price to Sales ratio for STORY B. This is calculated by dividing STORY B's market cap by their current revenue.
What is STORY B's PS Ratio?
PS Ratio	1.4x
Sales	SEK 3.72b
Market Cap	SEK 5.26b

STORY 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	1.5x
Enterprise Value/EBITDA	58.3x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for STORY 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	1.1x
VPLAY B Viaplay Group	0.2x	-0.5%	SEK 3.0b
SF Stillfront Group	0.6x	-1.5%	SEK 4.1b
BETCO Better Collective	1.6x	7.5%	SEK 6.8b
MTG B Modern Times Group MTG	1.9x	4.1%	SEK 11.2b
STORY B Storytel	1.4x	9.6%	SEK 5.3b

Price-To-Sales vs Peers: STORY B is expensive based on its Price-To-Sales Ratio (1.4x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

How does STORY B's PS Ratio compare vs other companies in the European Media Industry?

20 Companies	Price / Sales	Estimated Growth	Market Cap

20 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: STORY B is expensive based on its Price-To-Sales Ratio (1.4x) compared to the European Media industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is STORY 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.

STORY B PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.4x
Fair PS Ratio	1.2x

Price-To-Sales vs Fair Ratio: STORY B is expensive based on its Price-To-Sales Ratio (1.4x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).

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 STORY 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 68.20	SEK 95.00 +39.3%	15.8%	SEK 110.00	SEK 80.00	n/a	2
Dec ’25	SEK 60.50	SEK 95.00 +57.0%	15.8%	SEK 110.00	SEK 80.00	n/a	2
Nov ’25	SEK 66.30	SEK 95.00 +43.3%	15.8%	SEK 110.00	SEK 80.00	n/a	2
Oct ’25	SEK 52.80	SEK 89.00 +68.6%	12.4%	SEK 100.00	SEK 78.00	n/a	2
Sep ’25	SEK 51.05	SEK 87.50 +71.4%	8.6%	SEK 95.00	SEK 80.00	n/a	2
Aug ’25	SEK 61.90	SEK 87.50 +41.4%	8.6%	SEK 95.00	SEK 80.00	n/a	2
Jul ’25	SEK 54.65	SEK 73.33 +34.2%	28.6%	SEK 95.00	SEK 45.00	n/a	3
Jun ’25	SEK 54.00	SEK 73.67 +36.4%	28.6%	SEK 95.00	SEK 45.00	n/a	3
May ’25	SEK 50.50	SEK 71.67 +41.9%	28.7%	SEK 95.00	SEK 45.00	n/a	3
Apr ’25	SEK 52.00	SEK 71.67 +37.8%	28.7%	SEK 95.00	SEK 45.00	n/a	3
Mar ’25	SEK 58.50	SEK 71.67 +22.5%	28.7%	SEK 95.00	SEK 45.00	n/a	3
Feb ’25	SEK 45.84	SEK 66.00 +44.0%	24.8%	SEK 85.00	SEK 45.00	n/a	3
Jan ’25	SEK 40.26	SEK 66.00 +63.9%	24.8%	SEK 85.00	SEK 45.00	n/a	3
Dec ’24	SEK 37.86	SEK 66.00 +74.3%	24.8%	SEK 85.00	SEK 45.00	SEK 60.50	3
Nov ’24	SEK 32.80	SEK 66.00 +101.2%	24.8%	SEK 85.00	SEK 45.00	SEK 66.30	3
Oct ’24	SEK 30.06	SEK 66.33 +120.7%	23.0%	SEK 80.00	SEK 45.00	SEK 52.80	3
Sep ’24	SEK 32.94	SEK 66.33 +101.4%	23.0%	SEK 80.00	SEK 45.00	SEK 51.05	3
Aug ’24	SEK 38.60	SEK 69.67 +80.5%	21.0%	SEK 85.00	SEK 50.00	SEK 61.90	3
Jul ’24	SEK 33.30	SEK 69.67 +109.2%	21.0%	SEK 85.00	SEK 50.00	SEK 54.65	3
Jun ’24	SEK 35.72	SEK 69.00 +93.2%	20.9%	SEK 85.00	SEK 50.00	SEK 54.00	3
May ’24	SEK 39.22	SEK 73.33 +87.0%	17.9%	SEK 85.00	SEK 55.00	SEK 50.50	3
Apr ’24	SEK 35.51	SEK 80.67 +127.2%	24.1%	SEK 102.00	SEK 55.00	SEK 52.00	3
Mar ’24	SEK 42.98	SEK 80.67 +87.7%	24.1%	SEK 102.00	SEK 55.00	SEK 58.50	3
Feb ’24	SEK 53.20	SEK 89.33 +67.9%	19.3%	SEK 103.00	SEK 65.00	SEK 45.84	3
Jan ’24	SEK 44.23	SEK 94.00 +112.5%	24.8%	SEK 122.00	SEK 65.00	SEK 40.26	3
Dec ’23	SEK 45.23	SEK 94.00 +107.8%	24.8%	SEK 122.00	SEK 65.00	SEK 37.86	3

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.

Discover undervalued companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/26 09:48
End of Day Share Price	2024/12/23 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Storytel AB (publ) is covered by 4 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Oscar Erixon	Carnegie Investment Bank AB
Joachim Gunell	DNB Markets
Johan Spetz	Pareto Securities