Biotage AB (publ)

OM:BIOT Stock Report

Market Cap: SEK 12.1b

Biotage Valuation

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

Below Fair Value: BIOT (SEK149.5) is trading below our estimate of fair value (SEK289.33)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BIOT. This is calculated by dividing BIOT's market cap by their current earnings.
What is BIOT's PE Ratio?
PE Ratio46.6x
EarningsSEK 257.00m
Market CapSEK 12.09b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BIOT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average67.8x
ALIF B AddLife
135.3x52.0%SEK 16.1b
MCAP MedCap
33.3xn/aSEK 7.8b
GENO Genovis AB (publ.)
65.8x16.4%SEK 1.8b
MAGLE Magle Chemoswed Holding
36.9xn/aSEK 622.0m
BIOT Biotage
46.6x19.5%SEK 12.1b

Price-To-Earnings vs Peers: BIOT is good value based on its Price-To-Earnings Ratio (46.6x) compared to the peer average (67.8x).

Price to Earnings Ratio vs Industry

How does BIOT's PE Ratio compare vs other companies in the European Life Sciences Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
BIOT 46.6xIndustry Avg. 37.1xNo. of Companies4PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BIOT is expensive based on its Price-To-Earnings Ratio (46.6x) compared to the European Life Sciences industry average (37.1x).

Price to Earnings Ratio vs Fair Ratio

What is BIOT'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.

BIOT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio46.6x
Fair PE Ratio43.6x

Price-To-Earnings vs Fair Ratio: BIOT is expensive based on its Price-To-Earnings Ratio (46.6x) compared to the estimated Fair Price-To-Earnings Ratio (43.6x).

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 BIOT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 149.50
SEK 185.33
+24.0%
9.7%SEK 200.00SEK 160.00n/a3
Nov ’25SEK 158.50
SEK 190.67
+20.3%
11.7%SEK 212.00SEK 160.00n/a3
Oct ’25SEK 184.50
SEK 193.33
+4.8%
12.9%SEK 220.00SEK 160.00n/a3
Sep ’25SEK 197.20
SEK 191.00
-3.1%
11.8%SEK 213.00SEK 160.00n/a3
Aug ’25SEK 194.50
SEK 191.00
-1.8%
11.8%SEK 213.00SEK 160.00n/a3
Jul ’25SEK 160.90
SEK 190.00
+18.1%
11.4%SEK 210.00SEK 160.00n/a3
Jun ’25SEK 185.40
SEK 173.33
-6.5%
10.9%SEK 200.00SEK 160.00n/a3
May ’25SEK 168.00
SEK 186.67
+11.1%
10.1%SEK 200.00SEK 160.00n/a3
Apr ’25SEK 181.90
SEK 186.67
+2.6%
10.1%SEK 200.00SEK 160.00n/a3
Mar ’25SEK 176.50
SEK 186.67
+5.8%
10.1%SEK 200.00SEK 160.00n/a3
Feb ’25SEK 143.70
SEK 165.33
+15.1%
4.6%SEK 176.00SEK 160.00n/a3
Jan ’25SEK 133.70
SEK 155.00
+15.9%
3.2%SEK 160.00SEK 150.00n/a2
Dec ’24SEK 125.00
SEK 155.00
+24.0%
3.2%SEK 160.00SEK 150.00n/a2
Nov ’24SEK 114.60
SEK 155.00
+35.3%
3.2%SEK 160.00SEK 150.00SEK 158.502
Apr ’24SEK 132.20
SEK 211.50
+60.0%
24.3%SEK 263.00SEK 160.00SEK 181.902
Mar ’24SEK 149.80
SEK 254.00
+69.6%
3.5%SEK 263.00SEK 245.00SEK 176.502
Feb ’24SEK 163.10
SEK 239.00
+46.5%
10.0%SEK 263.00SEK 215.00SEK 143.702
Jan ’24SEK 185.50
SEK 249.00
+34.2%
5.6%SEK 263.00SEK 235.00SEK 133.702
Dec ’23SEK 189.30
SEK 249.00
+31.5%
5.6%SEK 263.00SEK 235.00SEK 125.002
Nov ’23SEK 180.30
SEK 249.00
+38.1%
5.6%SEK 263.00SEK 235.00SEK 114.602

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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