Hiab B (HIAB) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Hiab B stock €47.32, price €48.66, that is 2.8% below the price, quality 72 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range €12.45 – €65.45 · fair‑value band €37.45 – €61.52 · the €48.66 price screens above the €47.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Hiab Oyj provides smart and on road load-handling solutions and services in Finland.
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The company provides loader cranes under HIAB, EFFER, and ARGOS brands; truck-mounted forklifts under MOFFETT and PRINCETON brands; forestry cranes under LOGLIFT brand; recycling cranes under JONSERED brand; demountable and hooklifts under MULTILIFT brand; roll-off cable hoists under GALFAB brand; tail lifts under ZEPRO, DEL, and WALTCO brands.
It also offers maintenance, equipment warranty, and spare parts. The company serves waste and recycling, defense logistics, retail and final mile, and construction industries. The company was formerly known as Cargotec Corporation and changed its name to Hiab Oyj in March 2025.
Hiab Oyj was founded in 1944 and is headquartered in Helsinki, Finland.
Stock analysis
Hiab B (HIAB) currently trades at €48.66, while our model-based Fair Value estimate is €47.32, so the stock looks roughly fairly valued today (gap 2.8%).
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Valuation
Bull case: the Multiples group reads highest at a median of €59.96 per share, and 12 of the 24 models we run sit above the €48.66 price.
Bear case: the Asset-Based group reads lowest at €8.35, and 12 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: €37.45 (bear) to €61.52 (bull), the price of €48.66 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 72/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Hiab B reported revenue of €1.6B in FY2025 versus €3.3B in FY2021, a compound −17.2%/yr. Reported net income was €164M in FY2025, compounding −9.7%/yr from FY2021.
Key figures
Market cap €3.1B Mid · P/E ratio 23.9 · P/S ratio 1.88 · EPS (TTM) €1.95 · Dividend yield 2.4% · Net margin 7.4% · Return on equity 12.5% · Return on assets (EBIT) 7.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (low confidence).
What moves the price
The share trades about 26% below its 52-week high and 21% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at −3%, HIAB screens richer than that median.
Fair Value models
Bear€37.45Fair Value €47.32Bull€61.52
Price €48.66 · Downside -2.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.6689 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−5.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−27.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−13.8%
Start year 2020 (pandemic). Over 10 years: −8.4% a year
Revenue growth 19 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+5.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.9%
Dividend (yield on the price)2.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.13.0% vs 2.7%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.2% → 13%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 6.9%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes more growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+14.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +5.4% a year for the price and +12.2% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (21 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Hiab's main strength is its ProCare service shift using AI predictive maintenance on connected assets to build recurring revenue, while its main weakness remains heavy exposure to cyclical machinery demand in construction and logistics.
Main risk: Continued softness in machinery sales due to cyclical construction and logistics demand could limit overall revenue growth even as service offerings expand.
Hiab is rolling out an upgraded ProCare service portfolio that combines connectivity from over 50,000 assets with AI-driven predictive maintenance to cut downtime and total ownership costs. This shift toward recurring, data-led services could add resilience to a business still heavily exposed to cyclical equipment demand in construction and logistics. Will the service side scale quickly enough to ease pressure from softer machinery sales?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Farm & Heavy Construction Machinery · 146 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside−2.8% · Below median
Profitability
Return on equity (12 months)12.5% · Above median
Return on assets10.1% · Top 25%
Net margin (12 months)7.4% · Above median
Operating margin (12 months)11.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)38.9% · Top 25%
Dividend yield (12 months)2.4% · Above median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Farm & Heavy Construction Machinery median · lower = cheaper
P/E (12 months)23.9× · Pricier than median
P/B3.10× · Priciest 25%
P/S (12 months)1.88× · Pricier than median
Price / free cash flow (fiscal year)18.2× · Pricier than median
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Cite: Fair Value Calculator (2026). "Hiab B Fair Value". https://www.fairvalue-calculator.com/stock/HIAB
Frequently asked questions
Is Hiab B (HIAB) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €47.32 versus a price of €48.66, about 3% lower (fairly valued).
What is the fair value of HIAB?
Our model-based fair value for Hiab B is €47.32 (as of Nov 7, 2026), built from audited fundamentals. The current price: €48.66.
What is the quality score of HIAB?
Hiab B has a Quality Score of 72/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Hiab B (HIAB)?
Our model-based price target is the fair value of €47.32 (as of Nov 7, 2026) from 24 valuation models. Cautious scenario €37.45, optimistic scenario €61.52. It is a calculation from audited fundamentals, not an analyst target.
What is the Hiab B stock forecast for 2026?
Our models put fair value at €47.32, about 3% lower versus a price of €48.66 (fairly valued). Cautious scenario €37.45, optimistic scenario €61.52. The calculation is refreshed regularly with new filings.
What is the revenue of Hiab B (HIAB)?
Hiab B reported trailing-twelve-month revenue of about €1.7B (latest available figure, as of Nov 7, 2026).
Does Hiab B pay a dividend?
Hiab B currently shows a dividend yield of 2.40% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Hiab B (HIAB) and when is the ex-dividend date?
Hiab B pays a dividend of €1.17 per share a year, a dividend yield of 2.4%. The last ex-dividend date was Mar 25, 2026. A dividend has been paid every year since at least 2006. The payout ratio is 65.1% of earnings (on adjusted earnings, reported 60.0%). Free cash flow covers the dividend 2.67 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Hiab B (HIAB)?
For today's price to be fair in a discounted-cash-flow model, Hiab B would have to grow free cash flow by +7.7 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -13.8 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of HIAB use?
Our models discount Hiab B at 10.5 %: a base by market capitalisation (mid), damped by beta 1.24, country premium for Finland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Hiab B that is +7.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Hiab B (HIAB) delivered so far?
Over the past 5 years revenue at Hiab B grew -13.8 % a year. The price currently implies free-cash-flow growth of +7.7 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Hiab B (HIAB) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Hiab B (+7.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hiab B (HIAB)?
The free-cash-flow yield on the price is 5.50 %: that much free cash flow Hiab B produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hiab B (HIAB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hiab B it is €47.32 per share (as of Nov 7, 2026), against a price of €48.66. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Hiab B stock overvalued or undervalued in 2026?
As of Nov 7, 2026, HIAB trades above its calculated fair value: price €48.66, fair value €47.32, a gap of about −3% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HIAB?
No. The price is what the market pays today (€48.66); the fair value is what the company's own numbers justify (€47.32). For Hiab B the two are €1.34 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hiab B worth?
The market values Hiab B at about €3.1B (market capitalisation, as of Nov 7, 2026). Per share that is €48.66; our models calculate a fair value of €47.32 per share.
What do the bullish and bearish scenarios say about HIAB?
Our models span a range for Hiab B: cautious scenario €37.45, base €47.32, optimistic €61.52 per share (as of Nov 7, 2026, price €48.66). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HIAB?
Hiab B trades at a price-to-earnings ratio of 23.9 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €47.32 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 20.8 (reported for FY2025: 19.2). Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 13.2. Other multiples: PEG 1.7, P/B 3.1, P/S 1.9, EV/EBITDA 12.2.
What is the PEG ratio of HIAB?
The PEG ratio of Hiab B is 1.67 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Hiab B (HIAB)?
Balance-sheet figures for Hiab B (as of Nov 7, 2026): return on equity 12.5%, debt of 0.01 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is HIAB from its 52-week high?
Hiab B trades at €48.66, about 26% below its 52-week high of €65.45 and 21% above the low of €40.11 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €47.32 is for.
Which stocks are comparable to Hiab B?
From the same area (Industrials) we also value Caterpillar Inc, Deere & Company, PACCAR Inc, Daimler Truck Holding, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Hiab B stock attractive at the current price?
The data as of Nov 7, 2026: price €48.66, calculated fair value €47.32 (−3%), Quality Score 72/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of HIAB calculated?
We run Hiab B through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €47.32 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Hiab B itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Hiab B (HIAB)?
The closing price on Nov 6, 2026 was €48.66. Our model-based fair value is €47.32, about 3% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hiab B right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Hiab B (HIAB) come from?
Earnings per share at Hiab B grew +18.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share −8.0 %, EBIT margin +10.9 %, tax rate +2.1 %, residual (interest, one-offs) +13.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Hiab B
How large is the market capitalisation of Hiab B (HIAB)?
The market capitalisation of Hiab B is €3.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Hiab B (HIAB)?
The price-to-sales ratio of Hiab B is 1.88 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hiab B (HIAB)?
Earnings per share at Hiab B are €1.95 (price ÷ EPS = P/E 23.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hiab B (HIAB)?
The dividend yield of Hiab B is 2.4% (payout 65.1%, on adjusted earnings, reported 60.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hiab B (HIAB)?
The net margin of Hiab B is 7.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Hiab B (HIAB)?
The return on equity (ROE) of Hiab B is 12.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Hiab B (HIAB)?
On an EBIT basis the return on assets of Hiab B is 7.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Hiab B (HIAB)?
The operating margin of Hiab B is 11.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hiab B (HIAB)?
Revenue at Hiab B is growing +38.9% versus a year earlier (3y avg −27.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Hiab B (HIAB)?
Earnings per share at Hiab B are growing −8.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Hiab B (HIAB) hold?
Hiab B holds more cash than debt, €460M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 7, 2026