NCC AB (publ)

OM:NCC B Stock Report

Market Cap: SEK 16.7b

NCC Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: NCC B (SEK170.6) is trading below our estimate of future cash flow value (SEK196.15)

Significantly Below Future Cash Flow Value: NCC B is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As NCC B is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for NCC B. This is calculated by dividing NCC B's market cap by their current revenue.
What is NCC B's PS Ratio?
PS Ratio0.3x
SalesSEK 53.97b
Market CapSEK 16.68b

Price to Sales Ratio vs Peers

How does NCC B's PS Ratio compare to its peers?

The above table shows the PS ratio for NCC B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.1x
PEAB B Peab
0.4x4.22%SEK 25.6b
INSTAL Instalco
0.7x8.96%SEK 10.4b
SWEC B Sweco
1.5x5.69%SEK 48.0b
CYNCA Cynca Nordic
1.7x-10.50%SEK 6.0b
NCC B NCC
0.3x5.97%SEK 16.7b

Price-To-Sales vs Peers: NCC B is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (1.1x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does NCC B's PS Ratio compare vs other companies in the European Construction Industry?

19 CompaniesPrice / SalesEstimated GrowthMarket Cap
NCC B 0.3xIndustry Avg. 0.6xNo. of Companies32PS00.61.21.82.43+
19 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: NCC B is good value based on its Price-To-Sales Ratio (0.3x) compared to the European Construction industry average (0.6x).

Price to Sales Ratio vs Fair Ratio

What is NCC B'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.

NCC B PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.3x
Fair PS Ratio0.7x

Price-To-Sales vs Fair Ratio: NCC B is good value based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (0.7x).

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 NCC B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 170.60
SEK 202.50
+18.70%
11.11%SEK 240.00SEK 180.00n/a4
Jul ’27SEK 189.60
SEK 216.25
+14.06%
9.45%SEK 250.00SEK 195.00n/a4
Jun ’27SEK 191.30
SEK 220.00
+15.00%
9.23%SEK 250.00SEK 195.00n/a4
May ’27SEK 199.20
SEK 220.00
+10.44%
9.23%SEK 250.00SEK 195.00n/a4
Apr ’27SEK 211.60
SEK 220.00
+3.97%
10.33%SEK 250.00SEK 195.00n/a3
Mar ’27SEK 220.40
SEK 220.00
-0.18%
10.33%SEK 250.00SEK 195.00n/a3
Feb ’27SEK 228.40
SEK 220.00
-3.68%
10.33%SEK 250.00SEK 195.00n/a3
Jan ’27SEK 220.20
SEK 227.50
+3.32%
5.49%SEK 240.00SEK 215.00n/a2
Dec ’26SEK 216.60
SEK 227.50
+5.03%
5.49%SEK 240.00SEK 215.00n/a2
Nov ’26SEK 217.60
SEK 227.50
+4.55%
5.49%SEK 240.00SEK 215.00n/a2
Oct ’26SEK 217.40
SEK 200.00
-8.00%
5.00%SEK 210.00SEK 190.00n/a2
Sep ’26SEK 193.90
SEK 200.00
+3.15%
5.00%SEK 210.00SEK 190.00n/a2
Aug ’26SEK 183.90
SEK 200.00
+8.75%
5.00%SEK 210.00SEK 190.00n/a2
Jul ’26SEK 176.30
SEK 200.00
+13.44%
5.00%SEK 210.00SEK 190.00SEK 189.602
Jun ’26SEK 181.50
SEK 202.50
+11.57%
4.09%SEK 210.00SEK 190.00SEK 191.304
May ’26SEK 180.60
SEK 202.50
+12.13%
4.09%SEK 210.00SEK 190.00SEK 199.204
Apr ’26SEK 192.50
SEK 200.00
+3.90%
3.54%SEK 210.00SEK 190.00SEK 211.604
Mar ’26SEK 195.00
SEK 200.00
+2.56%
3.54%SEK 210.00SEK 190.00SEK 220.404
Feb ’26SEK 179.20
SEK 183.75
+2.54%
5.23%SEK 195.00SEK 170.00SEK 228.404
Jan ’26SEK 162.40
SEK 181.25
+11.61%
4.08%SEK 190.00SEK 170.00SEK 220.204
Dec ’25SEK 162.90
SEK 181.25
+11.26%
4.08%SEK 190.00SEK 170.00SEK 216.604
Nov ’25SEK 162.00
SEK 178.75
+10.34%
4.99%SEK 190.00SEK 170.00SEK 217.604
Oct ’25SEK 169.60
SEK 170.00
+0.24%
2.08%SEK 175.00SEK 165.00SEK 217.404
Sep ’25SEK 158.90
SEK 170.00
+6.99%
2.08%SEK 175.00SEK 165.00SEK 193.904
Aug ’25SEK 162.60
SEK 170.00
+4.55%
2.08%SEK 175.00SEK 165.00SEK 183.904
Jul ’25SEK 138.30
SEK 150.00
+8.46%
2.36%SEK 155.00SEK 145.00SEK 176.304
SEK 202.5
Fair Value
15.8% undervalued intrinsic discount
4
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 Analysis2026/07/27 04:38
End of Day Share Price 2026/07/24 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

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

NCC AB (publ) is covered by 9 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
Kristofer Liljeberg-SvenssonCarnegie Investment Bank AB
Stefan Erik AnderssonDanske Bank