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Alcadon Group (ALCA) Fair Value & Analysis

Technology · SE · Market cap 755M SEK

AG Alcadon Group ALCA · ST
Pricekr 31.50
Fair Valuekr 39.22
Upside+24.5%
Quality43/100
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Mixed Growth
Loss-making · -0.6% net margin
Low debt · generates free cash flow
Ranks above peers (9/13)
Narrow moat 32/100
Evidence: Medium Range kr 25.92 – kr 52.51 Share as image

Fair value as of: Jul 12, 2026

From 14 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from kr 42.98 to kr 39.22 (−8.7%) since Jun 24, 2026. Share price +3.6% over the past month.

Below-average quality, screening 25% undervalued on our models.

What matters now

  • A fairly wide model range (kr 25.92 to kr 52.51) leaves room in how you read the outcome.
  • Our model range runs from kr 25.92 (bear) to kr 52.51 (bull), base kr 39.22. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 43/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

kr 125.20 kr 16.50 Fair Value kr 39.22 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range kr 16.50 – kr 125.20 · fair‑value band kr 25.92 – kr 52.51 · the kr 31.50 price screens below the kr 39.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Alcadon Group (ALCA) currently trades at kr 31.50, while our model-based Fair Value estimate is kr 39.22, implying the stock looks roughly 24.5% undervalued today. The Quality Score stands at 43/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Alcadon Group generated revenue of 1.4B SEK at a net margin of -0.6%. Revenue declined 10.4% year over year. It earns a return on equity of 5.2%. Net debt stands at 342M SEK. Fundamentals as of Jul 12, 2026

Our scenario range runs from kr 25.92 (bear case) to kr 52.51 (bull case); at kr 31.50, the current price sits within 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 17% below its 52-week high and 77% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at 25%, ALCA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF kr 43.05 kr 81.36 kr 141.57 80
Rev-Margin DCF kr 32.05 kr 60.66 kr 120.81 74
ROIC Compounder kr 8.31 kr 10.74 kr 12.77 72
All 14 models by family
DCF Models
FCF DCF kr 46.60 kr 72.41 kr 149.56 38
Owner Earnings kr 6.62 kr 23.96 kr 56.14 31
5Y Revenue Exit kr 28.37 kr 51.80 kr 100.49 39
5Y EBITDA Exit kr 37.97 kr 71.19 kr 136.19 41
10Y Revenue Exit kr 33.70 kr 74.85 kr 97.97 36
10Y EBITDA Exit kr 41.12 kr 93.70 kr 182.50 37
Earnings-Based
EPV kr 8.31 kr 10.74 kr 12.77 59
Multiples
EV/EBIT kr 30.33 kr 43.62 kr 56.91 53
EV/EBITDA kr 33.16 kr 47.39 kr 61.63 54
EV/Revenue kr 17.33 kr 28.85 kr 40.37 43
Asset-Based
NCAV (Graham) kr 15.65 kr 20.97 kr 31.30 50
Growth DCF
Growth DCF kr 43.05 kr 81.36 kr 141.57 80
Rev-Margin DCF kr 32.05 kr 60.66 kr 120.81 74
Economic Profit
ROIC Compounder kr 8.31 kr 10.74 kr 12.77 72

Widest divergence: DCF Models (kr 71.19) versus Earnings-Based (kr 10.74). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.4B SEK
Revenue growth (YoY) -10.4%
Net margin -0.6%
Return on equity 5.2%
Free cash flow 101M SEK FY2025
P/E ratio 18.7
More key figures
Operating margin 5.3%
EPS (TTM) kr 1.71
EPS growth (YoY) +30.9%
Net debt 342M SEK FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 44 · Market factors (momentum, volatility) 72

Profitability 23
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 35
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.

About the company

Alcadon Group AB (publ) provides data and telecommunication products and systems in Sweden, Norway, Denmark, Germany, the United Kingdom, and the Benelux.

Full company description

Alcadon Group AB (publ) provides data and telecommunication products and systems in Sweden, Norway, Denmark, Germany, the United Kingdom, and the Benelux. The company offers structured cabling systems for offices, industry, municipalities, and county councils; multi-fiber push on systems and data center solutions; and active communications equipment, such as switches and routers. It also provides fiber networks/FTTx solutions, including fiber network solutions comprising fiber to the home/building/premises and 5G solutions, and fiber solutions for energy companies, city networks, and operators; and smart home solutions for connected homes, as well as solutions for electricity and communication in residential properties. In addition, the company offers training, network design, troubleshooting, fiber welds, and rental services, as well as measuring instrument copper/fiber and fiber blowing equipment. It serves installers, telecommunication operators, construction companies, system integrators, municipalities, data centers, and other end users. The company was founded in 1988 and is based in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Alcadon Group reported revenue of kr 1.4B in FY2025 versus kr 736M in FY2021, a compound +18.1%/yr. Reported net income was −kr 11.1M in FY2025.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.4B SEK
Avg. 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.
+29.6%
Avg. 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.
+27.0%
Avg. growth/yr (9Y) 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.
+78.6%
Revenue +18.1%/yr
FY21 kr 736M
FY22 kr 1.1B
FY23 kr 1.6B
FY24 kr 1.6B
FY25 kr 1.4B
Net income
FY21 kr 47.2M
FY22 kr 37.1M
FY23 kr 37.9M
FY24 kr 36.9M
FY25 −kr 11.1M

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Cite: Fair Value Calculator (2026). "Alcadon Group Fair Value". https://www.fairvalue-calculator.com/stock/ALCA

Peer Group

Communication Equipment · 286 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 43 · Bottom 25%
Fair Value upside +25% · Top 25%
Return on equity (TTM) 5% · Above median
Return on assets 3% · Above median
Net margin (TTM) -1% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth -10% · Bottom 25%
Debt / equity 0.39× · Higher than 75% of peers

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 18.0× · Cheaper than 75% of peers
P/B 0.10× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers
P/FCF 0.8× · Cheaper than median
EV/EBITDA 3.2× · Cheaper than 75% of peers

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.

VALUE 66 · sector 0
FUTURE 0 · sector 30
PAST 21 · sector 15
HEALTH 80 · sector 98
DIVIDEND 0 · sector 25

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is Alcadon Group (ALCA) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 39.22 versus a price of kr 31.50, about +25% (undervalued).
What is the fair value of ALCA?
Our model-based fair value for Alcadon Group is kr 39.22 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 31.50.
What is the quality score of ALCA?
Alcadon Group has a Quality Score of 43/100. 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 revenue of Alcadon Group (ALCA)?
Alcadon Group reported trailing-twelve-month revenue of about 1.4B SEK (latest available figure, as of Jul 12, 2026).
What is the net profit margin of ALCA?
The net profit margin of Alcadon Group is about -0.6%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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