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B3 Consulting Group (B3) Fair Value & Analysis

Technology · SE · Market cap 182M SEK

BC B3 Consulting Group B3 · ST
Pricekr 19.90
Fair Valuekr 23.93
Upside+20.3%
Quality45/100
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Healthy Growth
Thin margins · 0.5% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (6/13)
Narrow moat 29/100
Evidence: Medium Range kr 16.75 – kr 29.91 Share as image

Fair value as of: Jul 16, 2026

From 24 valuation models · updated 25 days ago

Share price −4.8% over the past month.

Below-average quality, screening 20% undervalued on our models.

What matters now

  • Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from kr 16.75 (bear) to kr 29.91 (bull), base kr 23.93. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 45/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

kr 177.05 kr 18.10 Fair Value kr 23.93 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 18.10 – kr 177.05 · fair‑value band kr 16.75 – kr 29.91 · the kr 19.90 price screens below the kr 23.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

B3 Consulting Group (B3) currently trades at kr 19.90, while our model-based Fair Value estimate is kr 23.93, implying the stock looks roughly 20.3% undervalued today. The Quality Score stands at 45/100 (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, B3 Consulting Group generated revenue of 1.2B SEK at a net margin of 0.5%. Revenue declined 5.8% year over year. It earns a return on equity of 3.4%. Net debt stands at 265M SEK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 16.75 (bear case) to kr 29.91 (bull case); at kr 19.90, 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 71% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 20%, B3 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 10.26 kr 26.71 kr 47.79 80
Residual Income kr 16.12 kr 15.68 kr 13.21 76
Rev-Margin DCF kr 14.15 kr 40.33 kr 72.77 74
All 24 models by family
DCF Models
FCF DCF kr 10.67 kr 29.20 kr 54.50 38
Owner Earnings kr 18.11 kr 40.45 kr 70.97 31
5Y Revenue Exit kr 14.15 kr 40.69 kr 75.73 39
5Y EBITDA Exit kr 33.45 kr 79.00 kr 134.84 41
5Y P/E Exit kr 10.54 kr 22.88 38
10Y Revenue Exit kr 10.99 kr 32.98 kr 64.72 36
10Y EBITDA Exit kr 22.83 kr 56.47 kr 105.48 37
10Y P/E Exit kr 3.55 kr 14.49 kr 28.26 35
Earnings-Based
Graham-Dodd kr 8.13 kr 33.13 kr 45.09 54
Lynch FV kr 8.30 kr 11.86 kr 15.41 50
PEG = 1.0 kr 8.30 kr 11.86 kr 15.41 46
EPV kr 1.66 kr 4.92 kr 7.56 59
Multiples
P/E Multiple kr 17.94 kr 23.93 kr 29.91 63
P/S Multiple kr 15.25 kr 20.34 kr 25.42 58
P/B Multiple kr 15.25 kr 20.34 kr 25.42 55
EV/EBIT kr 39.73 kr 61.46 kr 83.19 53
EV/EBITDA kr 58.64 kr 86.68 kr 114.72 54
EV/Revenue kr 18.48 kr 37.31 kr 56.15 43
Asset-Based
NCAV (Graham) kr 11.67 kr 15.64 kr 23.34 50
Growth DCF
Growth DCF kr 10.26 kr 26.71 kr 47.79 80
Rev-Margin DCF kr 14.15 kr 40.33 kr 72.77 74
Economic Profit
Residual Income kr 16.12 kr 15.68 kr 13.21 76
ROIC Compounder kr 1.66 kr 4.92 kr 7.56 72
Growth Earnings
Growth-Adj P/E kr 14.00 kr 20.00 kr 26.00 68

Widest divergence: DCF Models (kr 32.98) versus Economic Profit (kr 4.92). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.2B SEK
Revenue growth (YoY) -5.8%
Net margin 0.5%
Return on equity 3.4%
Free cash flow 36.9M SEK FY2025
P/E ratio 16.6
More key figures
Operating margin 3.2%
EPS (TTM) kr 1.20
EPS growth (YoY) -83.4%
Net debt 265M SEK FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 46 · Market factors (momentum, volatility) 21

Profitability 36
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 5
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 52
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

B3 Consulting Group AB (publ) operates as a consultancy company that provides IT and management consultancy services in Sweden. It offers digital transformation, system development, cloud and infrastructure solutions, cybersecurity, healthcare digitalization, recruitment, program and project management, and specialized services.

Full company description

B3 Consulting Group AB (publ) operates as a consultancy company that provides IT and management consultancy services in Sweden. It offers digital transformation, system development, cloud and infrastructure solutions, cybersecurity, healthcare digitalization, recruitment, program and project management, and specialized services. The company also provides generative AI and automation; management and governance; ServiceNow; purchasing and procurement; security; business applications; finance and transformation; nearshoring; web, design and e-commerce; data-driven work; and Sitevision solutions. It serves the banking, finance and insurance; eHealth; member organizations; public; industry; trade; and media and entertainment sectors. The company was formerly known as B3IT Management AB (publ) and changed its name to B3 Consulting Group AB (publ) in May 2018. B3 Consulting Group AB (publ) was incorporated in 2001 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

B3 Consulting Group reported revenue of kr 1.2B in FY2025 versus kr 922M in FY2021, a compound +7.0%/yr. Reported net income was kr 10.9M in FY2025, compounding −30.0%/yr from FY2021.

Growth Quality 69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.2B SEK
Latest YoY
+7.1%
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.
+1.7%
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.
+7.3%
Avg. growth/yr (13Y) 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.
+13.4%
Revenue +7.0%/yr
FY21 kr 922M
FY22 kr 1.1B
FY23 kr 1.1B
FY24 kr 1.1B
FY25 kr 1.2B
Net income −30.0%/yr
FY21 kr 45.3M
FY22 kr 103M
FY23 kr 60.5M
FY24 kr 83.3M
FY25 kr 10.9M
Character of growth · EPS growth decomposed (2014-2025) +8.0 % p.a.
Revenue per share +8.8 pp

of which total revenue +12.7 pp · buybacks/dilution −3.9 pp

EBIT margin −6.5 pp
Tax rate +1.6 pp
Residual (interest, one-offs) +3.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "B3 Consulting Group Fair Value". https://www.fairvalue-calculator.com/stock/B3

Peer Group

Information Technology Services · 475 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 45 · Below median
Fair Value upside +20% · Above median
Return on equity (TTM) 3% · Below median
Return on assets 3% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth -6% · Bottom 25%
Debt / equity 1.39× · Higher than 75% of peers

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 16.6× · Cheaper than median
P/B 0.09× · Cheaper than 75% of peers
P/S (TTM) 0.02× · Cheaper than 75% of peers
P/FCF 0.5× · Cheaper than median
EV/EBITDA 5.2× · 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 60 · sector 21
FUTURE 0 · sector 31
PAST 13 · sector 37
HEALTH 31 · sector 97
DIVIDEND 0 · sector 37

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is B3 Consulting Group (B3) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 23.93 versus a price of kr 19.90, about +20% (undervalued).
What is the fair value of B3?
Our model-based fair value for B3 Consulting Group is kr 23.93 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 19.90.
What is the quality score of B3?
B3 Consulting Group has a Quality Score of 45/100. 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 B3 Consulting Group (B3)?
B3 Consulting Group reported trailing-twelve-month revenue of about 1.2B SEK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of B3?
The net profit margin of B3 Consulting Group is about 0.5%, meaning it keeps roughly 0.5% of revenue as net income. 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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