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AGES Industri AB (AGES-B) Fair Value & Analysis

Industrials · SE · Market cap 365M SEK (≈ $38.2M) · ISIN SE0005799046

What is AGES Industri AB really worth?

AI AGES Industri AB AGES-B · ST
Pricekr 44.00
Fair Valuekr 63.76
Upside+44.9%
Quality58/100

A solid business, trading 31% below our fair value of kr 63.76.

As of Sep 3, 2026, the fair value of AGES Industri AB is kr 63.76 per share against a price of kr 44.00, so the fair value sits 45% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +1.6 %/yr)
!Thin margins · 1.8% net margin
!Mixed vs. peers (8/14)
!Narrow moat 32/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 21 out of 100

For context

·1.94% dividend yield
Evidence: Medium Range kr 47.82 – kr 79.70

Fair value as of: Sep 3, 2026

From 22 valuation models · updated 3 days ago

Fair value updated Sep 3, 2026, revised from kr 46.45 to kr 63.76 (+37.3%) since Aug 13, 2026. Share price −6.0% over the past month.

What runs behind every stock

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

What matters now

  • The price is below even our cautious bear case (kr 47.82). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

kr 99.44 kr 33.77 Fair Value kr 63.76 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.

How to read this chart

60‑month range kr 33.77 – kr 99.44 · fair‑value band kr 47.82 – kr 79.70 · the kr 44.00 price screens below the kr 63.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.

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Analysis

AGES Industri AB (AGES-B) currently trades at kr 44.00, while our model-based Fair Value estimate is kr 63.76, implying the stock looks roughly 31.0% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials sector. Bull case: the Growth DCF group reads highest at a median of kr 48.73 per share, and 11 of the 22 models we run sit above the kr 44.00 price. Bear case: the Earnings-Based group reads lowest at kr 16.24, and 11 of the 22 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, AGES Industri AB generated revenue of 880M SEK at a net margin of 1.8%. Revenue declined 30.5% year over year. It earns a return on equity of 6.9%. Net debt stands at 173M SEK. Fundamentals as of Sep 3, 2026

Our scenario range runs from kr 47.82 (bear case) to kr 79.70 (bull case); at kr 44.00, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 33% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −58% fair-value upside, at 45%, AGES-B screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 1.98 per share, which is 3.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model 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. Evidence
Highest evidence
FCF DCF best evidence kr 37.28 kr 53.97 kr 81.97 79
Growth DCF kr 39.05 kr 54.88 kr 79.40 77
Residual Income kr 30.92 kr 30.62 kr 27.41 75
All 22 models by family
DCF Models
FCF DCF best evidence kr 37.28 kr 53.97 kr 81.97 79
Owner Earnings kr 16.32 kr 26.65 kr 43.97 74
5Y Revenue Exit kr 29.11 kr 47.28 kr 73.62 70
5Y EBITDA Exit kr 61.73 kr 103.68 kr 159.22 73
5Y P/E Exit kr 23.18 kr 37.02 kr 53.69 69
10Y Revenue Exit kr 31.43 kr 44.35 kr 57.88 67
10Y EBITDA Exit kr 50.50 kr 76.19 kr 103.73 68
10Y P/E Exit kr 29.10 kr 38.55 kr 47.21 64
Earnings-Based
Graham-Dodd kr 15.04 kr 18.38 kr 20.68 65
EPV kr 12.16 kr 16.24 kr 19.63 72
Multiples
P/E Multiple kr 34.84 kr 46.45 kr 58.06 61
P/S Multiple kr 28.20 kr 37.60 kr 47.00 56
P/B Multiple kr 28.20 kr 37.60 kr 47.00 53
EV/EBIT kr 43.99 kr 64.56 kr 85.12 64
EV/EBITDA kr 97.30 kr 135.63 kr 173.96 66
EV/Revenue kr 26.33 kr 45.20 kr 64.07 51
Asset-Based
NCAV (Graham) kr 21.36 kr 28.62 kr 42.71 52
Growth DCF
Growth DCF kr 39.05 kr 54.88 kr 79.40 77
Rev-Margin DCF kr 29.11 kr 48.73 kr 73.09 71
Economic Profit
Residual Income kr 30.92 kr 30.62 kr 27.41 75
ROIC Compounder kr 12.16 kr 16.24 kr 19.63 71
Growth Earnings
Growth-Adj P/E kr 24.60 kr 35.14 kr 45.68 66

Widest divergence: Growth DCF (kr 48.73) versus Earnings-Based (kr 16.24). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 17.4 as of Jul 16, 2026
P/S ratio 0.32 P/E × margin
EPS (TTM) kr 2.90 price ÷ EPS = P/E 17.4
Net margin 1.8% FY2025
Return on equity 6.9% TTM
Return on assets (EBIT) 1.5% avg 5y
More key figures
Profitability
Operating margin 3.5% TTM
Growth
Revenue (TTM) 880M SEK TTM
Revenue growth (YoY) −30.5% 3y avg −12.6%
EPS growth (YoY) +46.7%
Balance sheet & cash flow
Free cash flow 49.0M SEK FY2025
Net debt 173M SEK FY2025 · ≈ 3.5 yrs of FCF

Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 56 · Market factors (momentum, volatility) 38

Profitability 42
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 72
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

AGES Industri AB (publ) engages in the die casting, machining, tooling, welding, and assembly of precision components. The company is involved in the die casting of aluminum; machining of materials, such as stainless steel, brass, and aluminum; robot and manual welding of precision products; and component and system assembly and testing.

Full company description

AGES Industri AB (publ) engages in the die casting, machining, tooling, welding, and assembly of precision components. The company is involved in the die casting of aluminum; machining of materials, such as stainless steel, brass, and aluminum; robot and manual welding of precision products; and component and system assembly and testing. It also designs and produces casting tools. AGES Industri AB (publ) was incorporated in 1983 and is headquartered in Halmstad, Sweden.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AGES Industri AB reported revenue of 880M SEK in FY2025 versus 1.1B SEK in FY2021, a compound −4.8%/yr. Reported net income was 16.0M SEK in FY2025, compounding −11.1%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
880M SEK
Latest YoY
−36.8%
Avg. revenue growth/yr (3Y) 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.
−12.6%
Avg. revenue growth/yr (5Y) 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.
+1.6%
Avg. revenue growth/yr (12Y) 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.
+3.1%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+3.3% · in SEK
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+3.3%
Dividend yield0.0%
Trend 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.5Y 3.3% vs 10Y −12.2%, picking up
Operating margin (EBIT) 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.1.8% (2020) → 4.0% (2025) · rising
Worst earnings drop442% (2019) (loss year, drop beyond 100%) · in SEK
Revenue −4.8%/yr
FY21 1.1B SEK
FY22 1.3B SEK
FY23 1.5B SEK
FY24 1.4B SEK
FY25 880M SEK
Net income −11.1%/yr
FY21 25.6M SEK
FY22 34.1M SEK
FY23 58.3M SEK
FY24 −156M SEK
FY25 16.0M SEK
Character of growth · EPS growth decomposed (2014-2025) −4.4 % p.a.
Revenue per share +4.0 %

of which total revenue +4.7 % · buybacks/dilution −0.6 %

EBIT margin −6.0 %
Tax rate −0.1 %
Residual (interest, one-offs) −2.1 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "AGES Industri AB Fair Value". https://www.fairvalue-calculator.com/stock/AGES-B

Peer Group

Metal Fabrication · 249 stocks

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.

Quality Score 58 · Above median
Fair Value upside +45% · Top 25%
Return on equity (TTM) 5% · Below median
Return on assets 3% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth −2% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.44× · Higher than 75% of peers

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 17.4× · Cheaper than median
P/B 1.18× · Cheaper than median
P/S (TTM) 0.42× · Cheaper than median
P/FCF 0.8× · Cheaper than median
EV/EBITDA 7.4× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE93 · sector 0
FUTURE0 · sector 35
PAST21 · sector 21
HEALTH78 · sector 95
DIVIDEND0 · sector 26

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 Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).

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Carpenter Technology Corporation CRS $490.58 $101.35 −79%
ATI Inc ATI $210.76 $35.74 −83%
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Aurubis AG NDA €178.90 €223.43 +25%
China International Marine Containers (Group) Co 000039 ¥9.39 ¥3.39 −64%
Commercial Metals Company CMC $68.16 $13.01 −81%
JL Mag Rare-Earth Co 300748 ¥27.08 ¥8.34 −69%
Viohalco S.A VIO €16.46 €14.98 −9%
ESAB Corporation ESAB $86.05 $52.40 −39%
Ningbo Zhenyu Technology Co 300953 ¥104.36 ¥44.23 −58%

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Frequently asked questions

Is AGES Industri AB (AGES-B) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of kr 63.76 versus a price of kr 44.00, about +45% upside (undervalued).
What is the fair value of AGES-B?
Our model-based fair value for AGES Industri AB is kr 63.76 (as of Sep 3, 2026), built from audited fundamentals. The current price: kr 44.00.
What is the quality score of AGES-B?
AGES Industri AB has a Quality Score of 58/100. 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 AGES Industri AB (AGES-B)?
Our model-based price target is the fair value of kr 63.76 (as of Sep 3, 2026) from 22 valuation models. Cautious scenario kr 47.82, optimistic scenario kr 79.70. It is a calculation from audited fundamentals, not an analyst target.
What is the AGES Industri AB stock forecast for 2026?
Our models put fair value at kr 63.76, about +45% upside versus a price of kr 44.00 (undervalued). Cautious scenario kr 47.82, optimistic scenario kr 79.70. The calculation is refreshed regularly with new filings.
What is the revenue of AGES Industri AB (AGES-B)?
AGES Industri AB reported trailing-twelve-month revenue of about 880M SEK (latest available figure, as of Sep 3, 2026).
What is the net profit margin of AGES-B?
The net profit margin of AGES Industri AB is about 1.8%, meaning it keeps roughly 1.8% of revenue as net income. Based on the latest reported figures.
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