CDON AB

OM:CDON Stock Report

Market Cap: SEK 715.3m

CDON Valuation

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

Below Fair Value: CDON (SEK65.4) is trading below our estimate of fair value (SEK233.95)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for CDON. This is calculated by dividing CDON's market cap by their current revenue.
What is CDON's PS Ratio?
PS Ratio1.7x
SalesSEK 429.90m
Market CapSEK 715.26m

Price to Sales Ratio vs Peers

How does CDON's PS Ratio compare to its peers?

The above table shows the PS ratio for CDON vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1x
OBAB Online Brands Nordic
1.1xn/aSEK 455.0m
BOOZT Boozt
0.8x5.04%SEK 6.9b
RUSTA Rusta
1x8.55%SEK 12.9b
MEDS Meds Apotek
1x18.58%SEK 928.6m
CDON CDON
1.7x10.79%SEK 715.3m

Price-To-Sales vs Peers: CDON is expensive based on its Price-To-Sales Ratio (1.7x) compared to the peer average (1x).

Price to Sales Ratio vs Industry

How does CDON's PS Ratio compare vs other companies in the European Multiline Retail Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
CDON 1.7xIndustry Avg. 0.9xNo. of Companies4PS00.61.21.82.43+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CDON is expensive based on its Price-To-Sales Ratio (1.7x) compared to the European Multiline Retail industry average (0.9x).

Price to Sales Ratio vs Fair Ratio

What is CDON'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.

CDON PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.7x
Fair PS Ratio1.5x

Price-To-Sales vs Fair Ratio: CDON is expensive based on its Price-To-Sales Ratio (1.7x) compared to the estimated Fair Price-To-Sales Ratio (1.5x).

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 CDON forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 65.40
SEK 133.00
+103.36%
24.06%SEK 165.00SEK 101.00n/a2
Dec ’26SEK 70.00
SEK 133.00
+90.00%
24.06%SEK 165.00SEK 101.00n/a2
Nov ’26SEK 54.00
SEK 133.00
+146.30%
24.06%SEK 165.00SEK 101.00n/a2
Oct ’26SEK 73.60
SEK 131.50
+78.67%
25.48%SEK 165.00SEK 98.00n/a2
Sep ’26SEK 65.60
SEK 131.50
+100.46%
25.48%SEK 165.00SEK 98.00n/a2
Aug ’26SEK 61.60
SEK 131.50
+113.47%
25.48%SEK 165.00SEK 98.00n/a2
Jul ’26SEK 49.30
SEK 128.50
+160.65%
28.40%SEK 165.00SEK 92.00n/a2
Jun ’26SEK 61.00
SEK 128.50
+110.66%
28.40%SEK 165.00SEK 92.00n/a2
May ’26SEK 47.10
SEK 128.50
+172.82%
28.40%SEK 165.00SEK 92.00n/a2
Apr ’26SEK 43.70
SEK 155.40
+255.61%
6.18%SEK 165.00SEK 145.80n/a2
Mar ’26SEK 72.00
SEK 155.40
+115.83%
6.18%SEK 165.00SEK 145.80n/a2
Feb ’26SEK 85.00
SEK 155.40
+82.82%
6.18%SEK 165.00SEK 145.80n/a2
Jan ’26SEK 88.00
SEK 155.40
+76.59%
6.18%SEK 165.00SEK 145.80SEK 63.002
Dec ’25SEK 96.20
SEK 155.40
+61.54%
6.18%SEK 165.00SEK 145.80SEK 70.002
Nov ’25SEK 94.40
SEK 155.40
+64.62%
6.18%SEK 165.00SEK 145.80SEK 54.002
SEK 133
Fair Value
50.8% undervalued intrinsic discount
2
Number of Analysts

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.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/05 20:12
End of Day Share Price 2026/01/05 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

CDON AB is covered by 3 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Markus AugustssonCarlsquare AB
Giles ThorneJefferies LLC
Yi Hsin YeohJefferies LLC