Truecaller AB (publ)

OM:TRUE B Stock Report

Market Cap: SEK 26.7b

Truecaller Valuation

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

Discounted Cash Flow
Simply Wall St
SEK 171.50
Fair Value
54.6% undervalued intrinsic discount
7
Number of Analysts

Below Fair Value: TRUE B (SEK77.9) is trading below our estimate of fair value (SEK171.5)

Significantly Below Fair Value: TRUE 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 TRUE B?

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

The above table shows the Price to Earnings ratio for TRUE B. This is calculated by dividing TRUE B's market cap by their current earnings.
What is TRUE B's PE Ratio?
PE Ratio51x
EarningsSEK 524.32m
Market CapSEK 26.72b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TRUE B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average47.7x
VIT B Vitec Software Group
60x16.1%SEK 24.6b
FNOX Fortnox
63x23.5%SEK 44.7b
LIME Lime Technologies
55.1x23.5%SEK 4.9b
IAR B IAR Systems Group
12.9x-17.4%SEK 1.7b
TRUE B Truecaller
51x24.4%SEK 26.7b

Price-To-Earnings vs Peers: TRUE B is expensive based on its Price-To-Earnings Ratio (51x) compared to the peer average (47.7x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
SPEONE SpectrumOne
1.7xn/aUS$9.62m
No more companies available in this PE range
TRUE B 51.0xIndustry Avg. 42.0xNo. of Companies3PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TRUE B is expensive based on its Price-To-Earnings Ratio (51x) compared to the Swedish Software industry average (41.4x).

Price to Earnings Ratio vs Fair Ratio

What is TRUE 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.

TRUE B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio51x
Fair PE Ratio39.2x

Price-To-Earnings vs Fair Ratio: TRUE B is expensive based on its Price-To-Earnings Ratio (51x) compared to the estimated Fair Price-To-Earnings Ratio (39.2x).

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 TRUE B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 77.90
SEK 82.29
+5.6%
17.5%SEK 98.00SEK 63.00n/a7
Feb ’26SEK 66.00
SEK 64.86
-1.7%
9.4%SEK 79.00SEK 60.00n/a7
Jan ’26SEK 51.15
SEK 63.17
+23.5%
11.8%SEK 79.00SEK 55.00n/a6
Dec ’25SEK 49.16
SEK 63.40
+29.0%
12.9%SEK 79.00SEK 55.00n/a5
Nov ’25SEK 48.14
SEK 58.40
+21.3%
12.0%SEK 71.00SEK 52.00n/a5
Oct ’25SEK 38.40
SEK 57.20
+49.0%
13.0%SEK 71.00SEK 50.00n/a5
Sep ’25SEK 35.72
SEK 57.20
+60.1%
13.0%SEK 71.00SEK 50.00n/a5
Aug ’25SEK 33.10
SEK 54.83
+65.7%
15.7%SEK 71.00SEK 43.00n/a6
Jul ’25SEK 35.80
SEK 54.50
+52.2%
14.6%SEK 69.00SEK 43.00n/a6
Jun ’25SEK 37.00
SEK 54.17
+46.4%
15.4%SEK 66.00SEK 43.00n/a6
May ’25SEK 35.66
SEK 53.83
+51.0%
16.8%SEK 66.00SEK 43.00n/a6
Apr ’25SEK 32.74
SEK 54.67
+67.0%
23.7%SEK 77.00SEK 40.00n/a6
Mar ’25SEK 27.99
SEK 55.33
+97.7%
24.6%SEK 77.00SEK 40.00n/a6
Feb ’25SEK 29.66
SEK 58.17
+96.1%
22.6%SEK 77.00SEK 40.00SEK 66.006
Jan ’25SEK 34.87
SEK 67.80
+94.4%
32.8%SEK 108.00SEK 40.00SEK 51.155
Dec ’24SEK 31.50
SEK 67.80
+115.2%
32.8%SEK 108.00SEK 40.00SEK 49.165
Nov ’24SEK 26.92
SEK 70.20
+160.8%
32.4%SEK 108.00SEK 40.00SEK 48.145
Oct ’24SEK 38.12
SEK 79.00
+107.2%
25.0%SEK 112.00SEK 55.00SEK 38.405
Sep ’24SEK 34.32
SEK 79.00
+130.2%
25.0%SEK 112.00SEK 55.00SEK 35.725
Aug ’24SEK 41.66
SEK 75.00
+80.0%
26.9%SEK 112.00SEK 55.00SEK 33.106
Jul ’24SEK 29.59
SEK 73.83
+149.5%
31.6%SEK 112.00SEK 48.00SEK 35.806
Jun ’24SEK 32.37
SEK 72.67
+124.5%
29.5%SEK 105.00SEK 48.00SEK 37.006
May ’24SEK 30.52
SEK 71.14
+133.1%
28.6%SEK 105.00SEK 48.00SEK 35.667
Apr ’24SEK 30.47
SEK 74.86
+145.7%
26.8%SEK 110.00SEK 48.00SEK 32.747
Mar ’24SEK 32.96
SEK 78.43
+138.0%
27.9%SEK 110.00SEK 48.00SEK 27.997
Feb ’24SEK 36.97
SEK 85.57
+131.5%
30.1%SEK 130.00SEK 55.00SEK 29.667
Analyst Price Target
Consensus Narrative from 7 Analysts
SEK 82.29
Fair Value
5.3% undervalued intrinsic discount
7
Number of Analysts

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 Analysis2025/02/20 05:00
End of Day Share Price 2025/02/20 00:00
Earnings2024/12/31
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

Truecaller AB (publ) is covered by 10 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Oscar ErixonCarnegie Investment Bank AB
Paul BradleyCitigroup Inc
Ramil KoriaDanske Bank