Waystream Holding AB (publ)

OM:WAYS Stock Report

Market Cap: SEK 295.4m

Waystream Holding Valuation

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

SEK 12.65
Fair Value
189.4% overvalued intrinsic discount
2
Number of Analysts

Below Fair Value: WAYS (SEK36) is trading above our estimate of fair value (SEK12.6)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for WAYS. This is calculated by dividing WAYS's market cap by their current revenue.
What is WAYS's PS Ratio?
PS Ratio2.2x
SalesSEK 133.09m
Market CapSEK 295.35m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for WAYS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.9x
TAGM B TagMaster
0.5x8.26%SEK 227.8m
LUMEN LumenRadio
2.4xn/aSEK 629.0m
GAPW B Gapwaves
10.7x30.98%SEK 872.1m
MAVEN Maven Wireless Sweden
1.9x10.67%SEK 415.3m
WAYS Waystream Holding
2.2x16.50%SEK 295.4m

Price-To-Sales vs Peers: WAYS is good value based on its Price-To-Sales Ratio (2.2x) compared to the peer average (3.9x).

Price to Sales Ratio vs Industry

How does WAYS's PS Ratio compare vs other companies in the European Communications Industry?

5 CompaniesPrice / SalesEstimated GrowthMarket Cap
WAYS 2.2xIndustry Avg. 1.3xNo. of Companies8PS012345+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: WAYS is expensive based on its Price-To-Sales Ratio (2.2x) compared to the European Communications industry average (1.3x).

Price to Sales Ratio vs Fair Ratio

What is WAYS'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.

WAYS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.2x
Fair PS Ratio0.8x

Price-To-Sales vs Fair Ratio: WAYS is expensive based on its Price-To-Sales Ratio (2.2x) compared to the estimated Fair Price-To-Sales Ratio (0.8x).

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 WAYS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 36.00
SEK 37.20
+3.33%
0.54%SEK 37.40SEK 37.00n/a2
Oct ’26SEK 37.60
SEK 37.20
-1.06%
0.54%SEK 37.40SEK 37.00n/a2
Sep ’26SEK 39.30
SEK 37.20
-5.34%
0.54%SEK 37.40SEK 37.00n/a2
Aug ’26SEK 41.30
SEK 37.20
-9.93%
0.54%SEK 37.40SEK 37.00n/a2
Jul ’26SEK 36.00
SEK 35.75
-0.69%
3.50%SEK 37.00SEK 34.50n/a2
Jun ’26SEK 29.10
SEK 34.25
+17.70%
8.03%SEK 37.00SEK 31.50n/a2
May ’26SEK 26.80
SEK 33.50
+25.00%
7.41%SEK 37.00SEK 31.50n/a3
Apr ’26SEK 21.75
SEK 31.33
+44.06%
10.53%SEK 35.00SEK 27.00n/a3
Mar ’26SEK 16.40
SEK 33.33
+103.25%
17.38%SEK 41.00SEK 27.00n/a3
Feb ’26SEK 14.94
SEK 32.00
+114.19%
22.96%SEK 41.00SEK 23.00n/a3
Jan ’26SEK 16.68
SEK 36.50
+118.82%
12.33%SEK 41.00SEK 32.00n/a2
Dec ’25SEK 15.06
SEK 36.50
+142.36%
12.33%SEK 41.00SEK 32.00n/a2
Nov ’25SEK 18.78
SEK 38.00
+102.34%
15.79%SEK 44.00SEK 32.00n/a2
Oct ’25SEK 18.90
SEK 38.00
+101.06%
15.79%SEK 44.00SEK 32.00SEK 37.602
Sep ’25SEK 20.60
SEK 38.00
+84.47%
15.79%SEK 44.00SEK 32.00SEK 39.302
Aug ’25SEK 22.35
SEK 38.25
+71.14%
12.42%SEK 43.00SEK 33.50SEK 41.302
Jul ’25SEK 19.68
SEK 38.25
+94.36%
12.42%SEK 43.00SEK 33.50SEK 36.002
Jun ’25SEK 21.20
SEK 38.25
+80.42%
12.42%SEK 43.00SEK 33.50SEK 29.102
May ’25SEK 22.60
SEK 39.75
+75.88%
13.21%SEK 45.00SEK 34.50SEK 26.802
Apr ’25SEK 22.00
SEK 39.75
+80.68%
13.21%SEK 45.00SEK 34.50SEK 21.752
Mar ’25SEK 20.35
SEK 39.75
+95.33%
13.21%SEK 45.00SEK 34.50SEK 16.402
Jan ’25SEK 27.30
SEK 58.50
+114.29%
0.85%SEK 59.00SEK 58.00SEK 16.682
Dec ’24SEK 25.00
SEK 58.50
+134.00%
0.85%SEK 59.00SEK 58.00SEK 15.062
Nov ’24SEK 16.64
SEK 58.50
+251.56%
0.85%SEK 59.00SEK 58.00SEK 18.782
Oct ’24SEK 25.75
SEK 64.50
+150.49%
8.53%SEK 70.00SEK 59.00SEK 18.902
SEK 37.2
Fair Value
1.6% undervalued intrinsic discount
2
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 Analysis2025/10/09 21:18
End of Day Share Price 2025/10/09 00:00
Earnings2025/06/30
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

Waystream Holding AB (publ) is covered by 4 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Orjan RodenDNB Carnegie Commissioned Research
Orjan RodenPenser Access
Mats HyttingeRedeye