Zalaris ASA
OSE:ZAL

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Zalaris ASA
OSE:ZAL
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Price: 83 NOK -1.19%
Market Cap: 1.8B NOK

Relative Value

The Relative Value of one ZAL stock under the Base Case scenario is 136.33 NOK. Compared to the current market price of 83 NOK, Zalaris ASA is Undervalued by 39%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

ZAL Relative Value
Base Case
136.33 NOK
Undervaluation 39%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
34
vs Industry
47
Median 3Y
0.9
Median 5Y
1
Industry
1.3
Forward
1.3
vs History
20
vs Industry
12
Median 3Y
-11.6
Median 5Y
-10.4
Industry
18.4
Forward
16.4
vs History
68
vs Industry
30
Median 3Y
24.1
Median 5Y
20.2
Industry
12.5
vs History
vs Industry
36
Median 3Y
-30.8
Median 5Y
-22.2
Industry
16.8
vs History
17
vs Industry
9
Median 3Y
5.2
Median 5Y
5.9
Industry
2.2
vs History
42
vs Industry
41
Median 3Y
1.2
Median 5Y
1.3
Industry
1.3
Forward
1.6
vs History
vs Industry
Median 3Y
0
Median 5Y
0
Industry
3.1
vs History
68
vs Industry
29
Median 3Y
12
Median 5Y
13.6
Industry
9.6
Forward
9.4
vs History
88
vs Industry
22
Median 3Y
24.9
Median 5Y
35.8
Industry
12.6
Forward
14.2
vs History
69
vs Industry
22
Median 3Y
28.9
Median 5Y
26.6
Industry
11.8
vs History
36
vs Industry
15
Median 3Y
23.8
Median 5Y
23.1
Industry
14.2
vs History
25
vs Industry
36
Median 3Y
1.5
Median 5Y
1.7
Industry
1.6

Multiples Across Competitors

ZAL Competitors Multiples
Zalaris ASA Competitors

Market Cap P/S P/E EV/EBITDA EV/EBIT
NO
Zalaris ASA
OSE:ZAL
1.8B NOK 1.1 37.7 12 18.5
JP
Recruit Holdings Co Ltd
TSE:6098
11.3T JPY 3.2 30 18.3 22.7
NL
Randstad NV
AEX:RAND
6.1B EUR 0.3 53.1 7.6 14.1
US
Robert Half Inc
SWB:RHJ
5.7B EUR 1.1 31.7 20.4 24.9
US
Robert Half International Inc
NYSE:RHI
4.4B USD 0.8 22.4 13.9 17
CN
51job Inc
F:IWQ
3.9B EUR 7.3 50.1 40.3 41.1
CH
Adecco Group AG
SIX:ADEN
3.6B CHF 0.2 12.7 7.3 10.4
JP
Persol Holdings Co Ltd
TSE:2181
557.3B JPY 0.4 15.5 5.7 8.8
US
TriNet Group Inc
NYSE:TNET
3.9B USD 0.8 22.2 10.8 13.3
US
Korn Ferry
NYSE:KFY
3.2B USD 1.2 13.2 6.7 8.3
US
Insperity Inc
NYSE:NSP
2.9B USD 0.4 32 13.8 19
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
NO
Zalaris ASA
OSE:ZAL
Average EV/EBITDA: 14.3
12
36%
0.3
JP
Recruit Holdings Co Ltd
TSE:6098
18.3
12%
1.5
NL
R
Randstad NV
AEX:RAND
7.6
10%
0.8
US
R
Robert Half Inc
SWB:RHJ
20.4
37%
0.6
US
Robert Half International Inc
NYSE:RHI
13.9
37%
0.4
CN
5
51job Inc
F:IWQ
40.3
N/A N/A
CH
A
Adecco Group AG
SIX:ADEN
7.3
11%
0.7
JP
P
Persol Holdings Co Ltd
TSE:2181
5.7
7%
0.8
US
TriNet Group Inc
NYSE:TNET
10.8
6%
1.8
US
Korn Ferry
NYSE:KFY
6.7
13%
0.5
US
Insperity Inc
NYSE:NSP
13.8
29%
0.5
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
NO
Zalaris ASA
OSE:ZAL
Average EV/EBIT: 18
18.5
45%
0.4
JP
Recruit Holdings Co Ltd
TSE:6098
22.7
N/A N/A
NL
R
Randstad NV
AEX:RAND
14.1
21%
0.7
US
R
Robert Half Inc
SWB:RHJ
24.9
42%
0.6
US
Robert Half International Inc
NYSE:RHI
17
42%
0.4
CN
5
51job Inc
F:IWQ
41.1
N/A N/A
CH
A
Adecco Group AG
SIX:ADEN
10.4
15%
0.7
JP
P
Persol Holdings Co Ltd
TSE:2181
8.8
N/A N/A
US
TriNet Group Inc
NYSE:TNET
13.3
5%
2.7
US
Korn Ferry
NYSE:KFY
8.3
16%
0.5
US
Insperity Inc
NYSE:NSP
19
36%
0.5