Addnode Group AB (publ)

OM:ANOD B Stock Report

Market Cap: SEK 13.8b

Addnode Group Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: ANOD B (SEK103.3) is trading above our estimate of fair value (SEK90.15)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ANOD B. This is calculated by dividing ANOD B's market cap by their current earnings.
What is ANOD B's PE Ratio?
PE Ratio36.6x
EarningsSEK 377.00m
Market CapSEK 13.85b

Price to Earnings Ratio vs Peers

How does ANOD B's PE Ratio compare to its peers?

The above table shows the PE ratio for ANOD B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.6x
KNOW Knowit
24.5x36.1%SEK 3.8b
PACT Proact IT Group
13.4x5.4%SEK 3.1b
EXS Exsitec Holding
26x18.1%SEK 1.9b
ENEA Enea
34.6xn/aSEK 2.0b
ANOD B Addnode Group
36.6x12.5%SEK 13.8b

Price-To-Earnings vs Peers: ANOD B is expensive based on its Price-To-Earnings Ratio (36.6x) compared to the peer average (24.6x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
ANOD B 36.6xIndustry Avg. 15.5xNo. of Companies5PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ANOD B is expensive based on its Price-To-Earnings Ratio (36.6x) compared to the Swedish IT industry average (15.5x).

Price to Earnings Ratio vs Fair Ratio

What is ANOD B'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.

ANOD B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio36.6x
Fair PE Ratio31.3x

Price-To-Earnings vs Fair Ratio: ANOD B is expensive based on its Price-To-Earnings Ratio (36.6x) compared to the estimated Fair Price-To-Earnings Ratio (31.3x).

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 ANOD B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 103.30
SEK 120.00
+16.2%
5.6%SEK 128.00SEK 112.00n/a4
Dec ’25SEK 100.50
SEK 121.67
+21.1%
5.7%SEK 128.00SEK 112.00n/a3
Nov ’25SEK 106.00
SEK 121.67
+14.8%
5.7%SEK 128.00SEK 112.00n/a3
Oct ’25SEK 108.40
SEK 121.00
+11.6%
5.3%SEK 126.00SEK 112.00n/a3
Sep ’25SEK 109.10
SEK 121.00
+10.9%
5.3%SEK 126.00SEK 112.00n/a3
Aug ’25SEK 103.30
SEK 121.00
+17.1%
5.3%SEK 126.00SEK 112.00n/a3
Jul ’25SEK 125.10
SEK 127.00
+1.5%
7.2%SEK 139.00SEK 117.00n/a3
Jun ’25SEK 121.20
SEK 123.50
+1.9%
5.3%SEK 130.00SEK 117.00n/a2
May ’25SEK 114.60
SEK 123.50
+7.8%
5.3%SEK 130.00SEK 117.00n/a2
Apr ’25SEK 114.40
SEK 117.00
+2.3%
11.1%SEK 130.00SEK 104.00n/a2
Mar ’25SEK 109.20
SEK 117.00
+7.1%
11.1%SEK 130.00SEK 104.00n/a2
Feb ’25SEK 93.55
SEK 109.50
+17.0%
8.7%SEK 119.00SEK 100.00n/a2
Jan ’25SEK 85.30
SEK 105.00
+23.1%
4.8%SEK 110.00SEK 100.00SEK 103.802
Dec ’24SEK 74.60
SEK 108.00
+44.8%
5.5%SEK 114.00SEK 100.00SEK 100.503
Nov ’24SEK 67.00
SEK 106.67
+59.2%
5.4%SEK 114.00SEK 100.00SEK 106.003
Oct ’24SEK 66.75
SEK 110.00
+64.8%
3.0%SEK 114.00SEK 106.00SEK 108.403
Sep ’24SEK 73.90
SEK 110.00
+48.8%
3.0%SEK 114.00SEK 106.00SEK 109.103
Aug ’24SEK 78.65
SEK 110.00
+39.9%
3.0%SEK 114.00SEK 106.00SEK 103.303
Jul ’24SEK 83.50
SEK 122.33
+46.5%
12.0%SEK 143.00SEK 110.00SEK 125.103
Jun ’24SEK 118.10
SEK 122.33
+3.6%
12.0%SEK 143.00SEK 110.00SEK 121.203
May ’24SEK 130.10
SEK 114.33
-12.1%
13.1%SEK 135.00SEK 100.00SEK 114.603
Apr ’24SEK 124.70
SEK 114.33
-8.3%
13.1%SEK 135.00SEK 100.00SEK 114.403
Mar ’24SEK 119.50
SEK 104.00
-13.0%
3.8%SEK 108.00SEK 100.00SEK 109.202

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 21:25
End of Day Share Price 2025/01/02 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

Addnode Group AB (publ) is covered by 8 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
null nullABG Sundal Collier
Fredrik NilssonABG Sundal Collier Sponsored
Ole-Andreas KrohnDNB Markets