Alleima AB (ALLEI) Fair Value & Analysis

Basic Materials · SE · Market cap 24.8B SEK

A solid business, but screening 48% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (kr 76.38). The favourable scenario is already priced in.
• Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (4 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

47‑month range kr 30.93 – kr 120.50 · fair‑value band kr 45.83 – kr 76.38 · the kr 117.40 price screens above the kr 61.11 fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Alleima AB (ALLEI) currently trades at kr 117.40, while our model-based Fair Value estimate is kr 61.11, implying the stock looks roughly 48.0% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Alleima AB generated revenue of 18.1B SEK at a net margin of 3.1%. Revenue declined 11.1% year over year. It earns a return on equity of 3.4%. The balance sheet holds a net cash position of 831M SEK. Fundamentals as of Jul 17, 2026

Our scenario range runs from kr 45.83 (bear case) to kr 76.38 (bull case); at kr 117.40, the current price sits above 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 near its 52-week high and 80% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -7% fair-value upside, at -48%, ALLEI screens richer 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.

Widest divergence: Growth DCF (kr 51.48) versus Earnings-Based (kr 25.86). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Alleima AB (publ) manufactures and sells stainless steels, special alloys, medical wires and components, and electric heating systems in Europe, North America, Asia, and internationally. It operates through three divisions: Tube, Kanthal, and Strip.

Full company description

Alleima AB (publ) manufactures and sells stainless steels, special alloys, medical wires and components, and electric heating systems in Europe, North America, Asia, and internationally. It operates through three divisions: Tube, Kanthal, and Strip. The company offers tubes for extraction and production of oil and gas, advanced stainless steel, umbilical tubes, control lines, corrosion-resistant alloys, and oil country tubular goods; solid and hollow bar, high-pressure and composite tubing, semi-finished ingots and blooms, and billets; hydraulic and instrumentation tubing, heat exchangers tubing, process piping, high-temperature applications, and high-pressure equipment for chemical and petrochemical processes; metallic and ceramic heating elements, and diffusion cassettes; and lithium-ion batteries, ceramics and steels, and various electronic appliances. It also provides stainless steel for razor blades, knives, cutting tools, compressor valve steel, and heating material; ultra fine wire and wire based components for glucose monitors, pacemakers, neurostimulation, precision strip steel, and small diameter tubing; stainless steel and titan tubes for use in aircraft hydraulic systems and jet engines, as well as gasoline direct injection tubes for cars and trucks; drill steel for hydraulic rock drilling rigs in mines and infrastructure construction works; steam generator tubing; cladding tubes; nuclear tubes and pipes; and tubes for hydrogen applications, concentrated solar power, geothermal energy, bioenergy and biofuels, offshore wind, carbon capture and storage, and coated strip steel for fuel cells and electrolyzers. The company serves oil and gas, industrial, chemical and petrochemical, industrial heating, medical, transportation, mining and construction, nuclear, and hydrogen and renewable energy industries. The company was founded in 1862 and is headquartered in Sandviken, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Alleima AB reported revenue of kr 18.6B in FY2025 versus kr 13.8B in FY2021, a compound +7.7%/yr. Reported net income was kr 671M in FY2025, compounding −13.6%/yr from FY2021.

ALLEI screens 48% overvalued. Compare with Tata Steel Limited →

Peer Group

Steel · 378 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.

Valuation Multiples vs Steel median · lower = cheaper

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

Values & ESG

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

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

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Frequently asked questions

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.