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Bergman & Beving AB (BERG-B) Fair Value & Analysis

Industrials · SE · Market cap 8.0B SEK (≈ $833M) · ISIN SE0000101362

What is Bergman & Beving AB really worth?

BB Bergman & Beving AB BERG-B · ST
Pricekr 263.00
Fair Valuekr 142.55
Upside−45.8%
Quality62/100

A solid business, but trading 85% above our fair value of kr 142.55.

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Strengths

Healthy Growth (revenue 5y +2.9 %/yr)
Moderate debt · generates free cash flow

Risks

!Thin margins · 4.6% net margin
!Trails peers (5/15)
!Narrow moat 39/100
!Weak on future: 8 out of 100

For context

·1.60% dividend yield
Evidence: High Range kr 94.63 – kr 213.13

Fair value as of: Aug 28, 2026

From 10 valuation models · updated 8 days ago

Share price −6.9% 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 sits above even our optimistic bull case (kr 213.13). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 94.63 to kr 213.13) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

kr 349.50 kr 76.82 Fair Value kr 142.55 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.

How to read this chart

60‑month range kr 76.82 – kr 349.50 · fair‑value band kr 94.63 – kr 213.13 · the kr 263.00 price screens above the kr 142.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 28, 2026.

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Analysis

Bergman & Beving AB (BERG-B) currently trades at kr 263.00, while our model-based Fair Value estimate is kr 142.55, implying the stock looks roughly 84.5% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Industrials sector. Bull case: the Growth DCF group reads highest at a median of kr 156.20 per share, and 0 of the 10 models we run sit above the kr 263.00 price. Bear case: the Asset-Based group reads lowest at kr 50.89, and 10 of the 10 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Bergman & Beving AB generated revenue of 5.0B SEK at a net margin of 4.6%. Revenue grew 1.6% year over year. It earns a return on equity of 12.1%. Net debt stands at 2.0B SEK. Fundamentals as of Aug 28, 2026

Our scenario range runs from kr 94.63 (bear case) to kr 213.13 (bull case); at kr 263.00, 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 about 25% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 34% fair-value upside, at −46%, BERG-B screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly kr 1.86 per share, which is 1.3 % 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
Growth DCF best evidence kr 109.91 kr 162.01 kr 252.25 78
Owner Earnings kr 136.93 kr 202.04 kr 324.91 75
Residual Income kr 68.89 kr 79.66 kr 146.03 73
All 10 models by family
DCF Models
Owner Earnings kr 136.93 kr 202.04 kr 324.91 75
5Y P/E Exit kr 81.86 kr 137.85 kr 206.43 70
10Y P/E Exit kr 89.44 kr 131.81 kr 173.07 64
Earnings-Based
Graham-Dodd kr 60.88 kr 87.89 kr 103.42 67
Multiples
P/E Multiple kr 141.00 kr 188.00 kr 235.00 63
P/B Multiple kr 114.14 kr 152.19 kr 190.24 55
Asset-Based
NCAV (Graham) kr 37.98 kr 50.89 kr 75.96 54
Growth DCF
Growth DCF best evidence kr 109.91 kr 162.01 kr 252.25 78
Rev-Margin DCF kr 90.40 kr 156.20 kr 238.74 71
Economic Profit
Residual Income kr 68.89 kr 79.66 kr 146.03 73

Widest divergence: Growth DCF (kr 156.20) versus Asset-Based (kr 50.89). Highest evidence: Growth DCF (78).

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Key figures & financial health

P/E ratio 34.6 as of Jun 7, 2026
P/S ratio 1.59 P/E × margin
EPS (TTM) kr 8.51 price ÷ EPS = P/E 34.6
Dividend yield 1.6% payout 49.4%
Net margin 4.6% FY2026
Return on equity 12.1% TTM
More key figures
Profitability
Return on assets (EBIT) 5.2% avg 5y
Operating margin 6.0% TTM
Growth
Revenue (TTM) 5.0B SEK TTM
Revenue growth (YoY) +1.6% 3y avg +1.6%
EPS growth (YoY) +10.3%
Balance sheet & cash flow
Free cash flow 427M SEK FY2026
Net debt 2.0B SEK FY2026 · ≈ 4.7 yrs of FCF

Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 60 · Market factors (momentum, volatility) 38

Profitability 46
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 81
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

Bergman & Beving AB (publ) provides solutions for the manufacturing and construction sectors in Sweden, Norway, Finland, and internationally. The company operates through three segments: Core Solutions, Safety Technology, and Industrial Equipment.

Full company description

Bergman & Beving AB (publ) provides solutions for the manufacturing and construction sectors in Sweden, Norway, Finland, and internationally. The company operates through three segments: Core Solutions, Safety Technology, and Industrial Equipment. The Core Solutions segments offers lifesaving products, such as inspection hatches, smoke hatches, and automatic fire curtain systems; fastening solutions; passive safety products for marine, offshore, and construction sectors; soft fire sealing solutions; professional tools for bricklaying, plastering, and tiling; wooden wedges; metal roofings; floor access, wall, and roof hatches; laminate panels; laminate panels; standard doors and customized solutions; and temporary protective coatings for window surfaces. The Safety Technology segment provides personal fall protection products, and rescue and evacuation equipment; safety-and occupational shoes; work and protective gloves; industrial safety signages; fire alarm systems; standard safety signs, including fire and pipe labelling; protection and safety products for logistics, warehouses, and other business premises; workplace safety solutions; measurement and control systems for liquid logistics in the oil, gas, chemical, and aviation industries; and ear, eye, breathing, and head protection products. The Industrial Equipment segment offers modular FLEX functional test systems; sheet-metal machinery; handling products for oil, grease, diesel, and other liquids; tool tethering for the oil and gas, and construction industries; standardized weighing systems, scales, and components; tools and supplies; mobile heating solutions; hand tools in stationary and mobile storage solutions; tools for the sheet metal industry; fuel tanks, liquid handling equipment, pumping equipment, and other related products; and mechanized, orbital and mechanized welding technology. The company was formerly known as B&B Tools AB (publ) and changed its name to Bergman & Beving AB (publ) in June 2017. Bergman & Beving AB (publ) was founded in 1906 an

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Bergman & Beving AB reported revenue of 5.0B SEK in FY2026 versus 4.6B SEK in FY2022, a compound +2.1%/yr. Reported net income was 229M SEK in FY2026, compounding +3.4%/yr from FY2022.

Growth Quality 69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
5.0B SEK
Latest YoY
+0.0%
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.
+1.6%
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.
+2.9%
Avg. revenue growth/yr (24Y) 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.
+1.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+8.3% (6.7 + 1.6)
Revenue +2.1%/yr
FY22 4.6B SEK
FY23 4.7B SEK
FY24 4.7B SEK
FY25 5.0B SEK
FY26 5.0B SEK
Net income +3.4%/yr
FY22 200M SEK
FY23 207M SEK
FY24 191M SEK
FY25 −52.0M SEK
FY26 229M SEK
Character of growth · EPS growth decomposed (2015-2026) −3.4 % p.a.
Revenue per share −4.9 %

of which total revenue −5.4 % · buybacks/dilution +0.5 %

EBIT margin +4.9 %
Tax rate +0.2 %
Residual (interest, one-offs) −3.5 %

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).

BERG-B screens 85% overvalued. Compare with ITOCHU Corporation →

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Cite: Fair Value Calculator (2026). "Bergman & Beving AB Fair Value". https://www.fairvalue-calculator.com/stock/BERG-B

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Conglomerates · 375 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 62 · Top 25%
Fair Value upside −46% · Below median
Return on equity (TTM) 12% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth 2% · Below median
Dividend yield (TTM) 1.6% · Below median
Debt / equity 0.90× · Higher than 75% of peers

Valuation Multiples vs Conglomerates median · lower = cheaper

P/E (TTM) 34.6× · Pricier than 75% of peers
P/B 4.09× · Pricier than 75% of peers
P/S (TTM) 1.58× · Pricier than median
P/FCF 1.9× · Pricier than median
EV/EBITDA 18.4× · Pricier than 75% of peers
PEG 4.04× · Pricier than 75% of peers

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
VALUE0 · sector 25
FUTURE8 · sector 17
PAST48 · sector 17
HEALTH55 · sector 89
DIVIDEND32 · sector 42

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.

None of the checked exposures detected

Similar stocks

10 more Conglomerates stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).

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CITIC Limited 0267 HK$13.02 HK$26.04 +100%
Poste Italiane S.p.A PST €26.90 €7.65 −72%
Swire Pacific Limited 0019 HK$106.30 HK$36.88 −65%
CK Hutchison Holdings 0001 HK$69.85 HK$100.46 +44%
SK Inc 034730 553,000 KRW 615,077 KRW +11%
PT Astra International Tbk, ASII 4,800 IDR 9,600 IDR +100%
Jardine Matheson Holdings J36 $59.10 $79.11 +34%

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Frequently asked questions

Is Bergman & Beving AB (BERG-B) overvalued or undervalued?
As of Aug 28, 2026, our model estimates a fair value of kr 142.55 versus a price of kr 263.00, about −46% upside (overvalued).
What is the fair value of BERG-B?
Our model-based fair value for Bergman & Beving AB is kr 142.55 (as of Aug 28, 2026), built from audited fundamentals. The current price: kr 263.00.
What is the quality score of BERG-B?
Bergman & Beving AB has a Quality Score of 62/100. 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 Bergman & Beving AB (BERG-B)?
Bergman & Beving AB reported trailing-twelve-month revenue of about 5.0B SEK (latest available figure, as of Aug 28, 2026).
What is the net profit margin of BERG-B?
The net profit margin of Bergman & Beving AB is about 4.6%, meaning it keeps roughly 4.6% of revenue as net income. Based on the latest reported figures.
Does Bergman & Beving AB pay a dividend?
Bergman & Beving AB currently shows a dividend yield of about 1.60% relative to its recent price (as of Aug 28, 2026).
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