Vitec Software Group AB (publ)

OM:VIT B Stock Report

Market Cap: SEK 18.8b

Vitec Software Group Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: VIT B (SEK471.4) is trading above our estimate of fair value (SEK457.51)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for VIT B. This is calculated by dividing VIT B's market cap by their current earnings.
What is VIT B's PE Ratio?
PE Ratio47.8x
EarningsSEK 393.38m
Market CapSEK 18.78b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for VIT B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average58.7x
TRUE B Truecaller
31.9x23.6%SEK 15.6b
FNOX Fortnox
58.6x22.7%SEK 40.4b
BFG Byggfakta Group Nordic HoldCo
94.2x52.1%SEK 11.2b
LIME Lime Technologies
50.2x23.6%SEK 4.5b
VIT B Vitec Software Group
47.8x18.1%SEK 18.8b

Price-To-Earnings vs Peers: VIT B is good value based on its Price-To-Earnings Ratio (47.8x) compared to the peer average (58.7x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
SPEONE SpectrumOne
1.9xn/aUS$10.62m
No more companies available in this PE range
VIT B 47.8xIndustry Avg. 27.7xNo. of Companies2PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VIT B is expensive based on its Price-To-Earnings Ratio (47.8x) compared to the European Software industry average (27.7x).

Price to Earnings Ratio vs Fair Ratio

What is VIT 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.

VIT B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio47.8x
Fair PE Ratio34.4x

Price-To-Earnings vs Fair Ratio: VIT B is expensive based on its Price-To-Earnings Ratio (47.8x) compared to the estimated Fair Price-To-Earnings Ratio (34.4x).

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 VIT B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 471.40
SEK 587.40
+24.6%
16.6%SEK 660.00SEK 400.00n/a5
Nov ’25SEK 460.20
SEK 593.00
+28.9%
14.7%SEK 660.00SEK 428.00n/a5
Oct ’25SEK 524.00
SEK 606.40
+15.7%
15.6%SEK 700.00SEK 428.00n/a5
Sep ’25SEK 555.50
SEK 595.00
+7.1%
17.2%SEK 700.00SEK 428.00n/a4
Aug ’25SEK 549.00
SEK 576.67
+5.0%
19.5%SEK 700.00SEK 428.00n/a3
Jul ’25SEK 549.00
SEK 568.67
+3.6%
19.4%SEK 700.00SEK 430.00n/a3
Apr ’25SEK 556.00
SEK 548.00
-1.4%
4.2%SEK 571.00SEK 525.00n/a2
Jul ’24SEK 542.00
SEK 533.50
-1.6%
0.3%SEK 535.00SEK 532.00SEK 549.002
Jun ’24SEK 544.50
SEK 533.50
-2.0%
0.3%SEK 535.00SEK 532.00SEK 537.502
Apr ’24SEK 533.50
SEK 526.50
-1.3%
1.2%SEK 533.00SEK 520.00SEK 556.002
Mar ’24SEK 486.60
SEK 526.50
+8.2%
1.2%SEK 533.00SEK 520.00SEK 580.502
Feb ’24SEK 464.80
SEK 475.00
+2.2%
3.8%SEK 493.00SEK 457.00SEK 540.002
Jan ’24SEK 418.20
SEK 479.50
+14.7%
2.8%SEK 493.00SEK 466.00SEK 585.502
Nov ’23SEK 409.20
SEK 468.00
+14.4%
6.2%SEK 497.00SEK 439.00SEK 439.602

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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