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Norditek Group AB (NOTEK) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Norditek Group AB stock SEK 2.24, price SEK 6.00, that is 62.7% below the price, quality 26 out of 100. Rating: strongly overvalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials SE

NG Norditek Group AB logo Thin data Nov 4, 2026

Norditek Group AB

NOTEK · ST
Very expensive, weak quality

Our calculation puts a fair price 63% below what the stock costs today.

Low debt
Expensive Growth (revenue 5y +7.1 %/yr in SEK)
Revenue last quarter 65% below a year ago.
Fair value kr 2.24 · Strongly overvalued
Quality 26/100
Loss-making · -1.6% net margin (TTM)
Negative free cash flow
Trails peers (3/11)
Narrow moat 20/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 27.60 kr 5.58 Fair Value kr 2.24 Nov 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.

How to read this chart

60‑month range kr 5.58 – kr 27.60 · fair‑value band kr 0.7500 – kr 3.74 · the kr 6.00 price screens above the kr 2.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.

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Company profile

Norditek Group AB (publ) develops, sells, leases, or rents out crushers, sorting plants, and self-developed machines to recycle and convert materials in Sweden into salable products in Sweden. The company recycles industrial waste, wood waste, and gravel and rocks.

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It offers flip flow sieves, sorting plant, wind visibility, water bath, magnets, air suction, crushers, laundry equipment, semi-stationary plant, waste compactors, belt conveyor, stacker, screening media, and other accessories.

Norditek Group AB (publ) was founded in 1998 and is headquartered in Gothenburg, Sweden.

Stock analysis

Norditek Group AB (NOTEK) currently trades at kr 6.00, while our model-based Fair Value estimate is kr 2.24, 63% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: kr 0.7500 (bear) to kr 3.74 (bull), the price of kr 6.00 sits above 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 26/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Norditek Group AB reported revenue of 99.6M SEK in FY2026 versus 71.7M SEK in FY2022, a compound +8.6%/yr. Reported net income was −1.6M SEK in FY2026.

Key figures

Market cap 82.4M SEK (≈ $8.3M) Micro · P/S ratio 0.83 · EPS (TTM) kr 0.3900 · Net margin −1.6% · Return on equity −1.6% · Return on assets (EBIT) 5.3% (5-year average) · Operating margin −80.2% · Revenue (TTM) 99.6M SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 20 out of 100 (low confidence).

What moves the price

The share trades about 60% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −25% fair-value upside, at −63%, NOTEK screens richer than that median.

Fair Value models

Bear kr 0.7500 Fair Value kr 2.24 Bull kr 3.74
Price kr 6.00 · Downside -62.7%
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 2026 figures (about 2 months old). Earnings retained since then (kr 0.0748 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.
Best data coverage
EV/EBITDA kr 0.7500 kr 2.24 kr 3.74 62
NCAV (Graham) kr 1.74 kr 2.63 kr 3.29 55
All 2 models by family
Multiples
EV/EBITDA kr 0.7500 kr 2.24 kr 3.74 62
Asset-Based
NCAV (Graham) kr 1.74 kr 2.63 kr 3.29 55

Open the full fair value analysis →

Quality Score breakdown

Overall quality 26/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 13
How much profit the company makes from its sales and capital
Quality Growth 4
Are margins and returns getting better?
Cashflow 6
Do the profits arrive as real cash?
Financial strength 51
Debt, balance sheet and risk of trouble
Investment 33
Does it invest with discipline instead of growing at any price?
Low Volatility 29
How calm the share price moves, does not count
Price momentum 3
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 67
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 16/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−7.4%
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.
+2.8%
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.
+7.1%
Start year 2021 (pandemic)
Revenue growth 6 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.
+11.0%
Profit margin (trend) ⓘ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.
17.8% (2020) → 0.3% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

NOTEK screens overvalued: fair value 63% below the price. Compare with Waste Management, Inc →

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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.Waste Management · 155 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 26 · Bottom 25%
Fair Value upside −62.7% · Bottom 25%
Profitability
Return on assets −0.9% · Bottom 25%
Net margin (12 months) −1.6% · Bottom 25%
Operating margin (12 months) −80.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −65.3% · Bottom 25%
Balance sheet
Debt / equity 0.28× · Below median

Valuation Multiplesvs Waste Management median · lower = cheaper

P/B 0.85× · Cheaper than median
P/S (12 months) 0.83× · Cheapest 25%
EV/EBITDA 14.4× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 35
FUTURE (revenue growth)0 · sector 37
PAST (return on equity)0 · sector 23
HEALTH (low debt)86 · sector 83
DIVIDEND (yield)0 · sector 52

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Waste Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Waste Management, Inc WM $236.26 $259.89 +10% vs NOTEK
Waste Connections, Inc WCN $189.07 $199.18 +5% vs NOTEK
Fomento de Construcciones y Contratas, S.A FCC €10.42 €9.99 −4% vs NOTEK
GEM Co 002340 ¥5.81 ¥5.27 −9% vs NOTEK
GFL Environmental Inc GFL $46.32 $34.54 −25% vs NOTEK
Veolia Environnement SA VIE €33.78 €20.39 −40% vs NOTEK
Clean Harbors, Inc CLH $284.10 $155.54 −45% vs NOTEK
Republic Services, Inc RSG $246.85 $129.29 −48% vs NOTEK
Cleanaway Waste Management Limited CWY A$3.01 A$1.25 −58% vs NOTEK
Casella Waste Systems, Inc CWST $98.21 $14.30 −85% vs NOTEK

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Norditek Group AB: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Norditek Group AB Fair Value". https://www.fairvalue-calculator.com/stock/NOTEK

Frequently asked questions

Is Norditek Group AB (NOTEK) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of kr 2.24 versus a price of kr 6.00, about 63% lower (overvalued).
What is the fair value of NOTEK?
Our model-based fair value for Norditek Group AB is kr 2.24 (as of Nov 4, 2026), built from audited fundamentals. The current price: kr 6.00.
What is the quality score of NOTEK?
Norditek Group AB has a Quality Score of 26/100. 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 Norditek Group AB (NOTEK)?
Our model-based price target is the fair value of kr 2.24 (as of Nov 4, 2026) from 2 valuation models. Cautious scenario kr 0.7500, optimistic scenario kr 3.74. It is a calculation from audited fundamentals, not an analyst target.
What is the Norditek Group AB stock forecast for 2026?
Our models put fair value at kr 2.24, about 63% lower versus a price of kr 6.00 (overvalued). Cautious scenario kr 0.7500, optimistic scenario kr 3.74. The calculation is refreshed regularly with new filings.
What is the revenue of Norditek Group AB (NOTEK)?
Norditek Group AB reported trailing-twelve-month revenue of about 99.6M SEK (latest available figure, as of Nov 4, 2026).
What is the intrinsic value of Norditek Group AB (NOTEK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Norditek Group AB it is kr 2.24 per share (as of Nov 4, 2026), against a price of kr 6.00. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is Norditek Group AB stock overvalued or undervalued in 2026?
As of Nov 4, 2026, NOTEK trades above its calculated fair value: price kr 6.00, fair value kr 2.24, a gap of about −63% (overvalued). 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 NOTEK?
No. The price is what the market pays today (kr 6.00); the fair value is what the company's own numbers justify (kr 2.24). For Norditek Group AB the two are kr 3.76 per share apart. That gap is exactly why we show both numbers side by side.
How much is Norditek Group AB worth?
The market values Norditek Group AB at about 82.4M SEK (market capitalisation, as of Nov 4, 2026). Per share that is kr 6.00; our models calculate a fair value of kr 2.24 per share.
What do the bullish and bearish scenarios say about NOTEK?
Our models span a range for Norditek Group AB: cautious scenario kr 0.7500, base kr 2.24, optimistic kr 3.74 per share (as of Nov 4, 2026, price kr 6.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Norditek Group AB (NOTEK)?
Balance-sheet figures for Norditek Group AB (as of Nov 4, 2026): return on equity −1.6%, debt of 0.28 per unit of equity. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is NOTEK from its 52-week high?
Norditek Group AB trades at kr 6.00, about 60% below its 52-week high of kr 14.95 and 8% above the low of kr 5.58 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 2.24 is for.
Which stocks are comparable to Norditek Group AB?
From the same area (Industrials) we also value Waste Management, Inc, Republic Services, Inc, Waste Connections, Inc, Veolia Environnement SA, 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 Norditek Group AB stock attractive at the current price?
The data as of Nov 4, 2026: price kr 6.00, calculated fair value kr 2.24 (−63%), Quality Score 26/100, from 2 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 NOTEK calculated?
We run Norditek Group AB through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of kr 2.24 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. Norditek Group AB 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 Norditek Group AB (NOTEK)?
The closing price on Nov 6, 2026 was kr 6.00. Our model-based fair value is kr 2.24, about 63% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Norditek Group AB right now?
The price sits above even our optimistic bull case (kr 3.74). The favourable scenario is already priced in. Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (kr 0.7500 to kr 3.74). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Norditek Group AB

How large is the market capitalisation of Norditek Group AB (NOTEK)?
The market capitalisation of Norditek Group AB is 82.4M SEK (≈ $8.3M). 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 Norditek Group AB (NOTEK)?
The price-to-sales ratio of Norditek Group AB is 0.83 (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 Norditek Group AB (NOTEK)?
Earnings per share at Norditek Group AB are kr 0.3900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Norditek Group AB (NOTEK)?
The net margin of Norditek Group AB is −1.6% (fiscal year 2026). 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 Norditek Group AB (NOTEK)?
The return on equity (ROE) of Norditek Group AB is −1.6% (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 Norditek Group AB (NOTEK)?
On an EBIT basis the return on assets of Norditek Group AB is 5.3% (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 Norditek Group AB (NOTEK)?
The operating margin of Norditek Group AB is −80.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Norditek Group AB (NOTEK)?
Revenue at Norditek Group AB is growing −65.3% versus a year earlier (3y avg +2.8%). 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 Norditek Group AB (NOTEK)?
Earnings per share at Norditek Group AB are growing −78.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Norditek Group AB (NOTEK) generate?
The free cash flow of Norditek Group AB is −24.5M SEK (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Norditek Group AB (NOTEK) carry?
The net debt of Norditek Group AB is 51.1M SEK (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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