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Berner Industrier AB (BERNER-B) Fair Value & Analysis

Industrials · SE · Market cap 1.5B SEK (≈ $159M) · ISIN SE0006143129

What is Berner Industrier AB really worth?

BI Berner Industrier AB BERNER-B · ST
Pricekr 76.30
Fair Valuekr 81.14
Upside+6.3%
Quality63/100

A solid business, currently priced close to our fair value of kr 81.14.

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Strengths

Healthy Growth (revenue 5y +7.5 %/yr)
Low debt · generates free cash flow
Ranks above peers (11/14)

Risks

!Thin margins · 7.1% net margin
!Moderate moat 56/100
Evidence: High Range kr 54.68 – kr 103.53

Fair value as of: Sep 5, 2026

From 24 valuation models · updated today

Share price −2.6% 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 close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (kr 54.68 to kr 103.53) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

kr 112.78 kr 16.64 Fair Value kr 81.14 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range kr 16.64 – kr 112.78 · fair‑value band kr 54.68 – kr 103.53 · the kr 76.30 price screens below the kr 81.14 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Berner Industrier AB (BERNER-B) currently trades at kr 76.30, while our model-based Fair Value estimate is kr 81.14, implying the stock looks roughly 6.0% fairly valued today. The Quality Score stands at 63/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of kr 79.32 per share, and 10 of the 24 models we run sit above the kr 76.30 price. Bear case: the Asset-Based group reads lowest at kr 11.80, and 14 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Berner Industrier AB generated revenue of 1.0B SEK at a net margin of 7.1%. Revenue grew 7.3% year over year. It earns a return on equity of 24.5%. Net debt stands at 151M SEK. Fundamentals as of Sep 5, 2026

Our scenario range runs from kr 54.68 (bear case) to kr 103.53 (bull case); at kr 76.30, 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 34% below its 52-week high and 52% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −52% fair-value upside, at 6%, BERNER-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 2.68 per share, which is 3.3 % 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
FCF DCF kr 49.85 kr 74.72 kr 109.06 80
Growth DCF kr 49.90 kr 71.04 kr 98.17 79
Owner Earnings kr 58.26 kr 87.32 kr 127.45 76
All 24 models by family
DCF Models
FCF DCF kr 49.85 kr 74.72 kr 109.06 80
Owner Earnings kr 58.26 kr 87.32 kr 127.45 76
5Y Revenue Exit kr 47.31 kr 75.35 kr 111.37 72
5Y EBITDA Exit kr 58.64 kr 97.06 kr 142.52 74
5Y P/E Exit kr 53.99 kr 88.14 kr 124.59 70
10Y Revenue Exit kr 46.47 kr 71.11 kr 104.75 66
10Y EBITDA Exit kr 54.40 kr 85.05 kr 126.95 68
10Y P/E Exit kr 51.66 kr 79.32 kr 114.17 63
Earnings-Based
Graham-Dodd kr 27.51 kr 96.14 kr 129.25 64
Lynch FV kr 22.38 kr 31.96 kr 41.55 61
PEG = 1.0 kr 22.38 kr 31.96 kr 41.55 57
EPV kr 33.22 kr 37.76 kr 41.54 74
Multiples
P/E Multiple kr 63.73 kr 84.97 kr 106.21 63
P/S Multiple kr 51.59 kr 68.78 kr 85.98 58
P/B Multiple kr 51.59 kr 68.78 kr 85.98 55
EV/EBIT kr 67.09 kr 89.49 kr 111.88 66
EV/EBITDA kr 72.24 kr 96.35 kr 120.46 67
EV/Revenue kr 47.86 kr 68.41 kr 88.96 53
Asset-Based
NCAV (Graham) kr 8.81 kr 11.80 kr 17.62 54
Growth DCF
Growth DCF kr 49.90 kr 71.04 kr 98.17 79
Rev-Margin DCF kr 47.31 kr 75.40 kr 108.76 72
Economic Profit
Residual Income kr 22.80 kr 30.49 kr 114.45 64
ROIC Compounder kr 35.51 kr 43.45 kr 52.27 72
Growth Earnings
Growth-Adj P/E kr 54.93 kr 78.47 kr 102.01 67

Widest divergence: DCF Models (kr 79.32) versus Asset-Based (kr 11.80). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 19.7 as of Jun 7, 2026
P/S ratio 1.42 P/E × margin
EPS (TTM) kr 3.80 price ÷ EPS = P/E 19.7
Net margin 7.2% FY2025
Return on equity 24.5% TTM
Return on assets (EBIT) 8.7% avg 5y
More key figures
Profitability
Operating margin 7.2% TTM
Growth
Revenue (TTM) 1.0B SEK TTM
Revenue growth (YoY) +7.3% 3y avg +5.9%
EPS growth (YoY) +1.5%
Balance sheet & cash flow
Free cash flow 92.0M SEK FY2025
Net debt 151M SEK FY2025 · ≈ 1.6 yrs of FCF

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 62 · Market factors (momentum, volatility) 43

Profitability 62
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 71
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

Berner Industrier AB engages in the technology distribution, and energy and environment business in Sweden, Norway, Finland, and Denmark. It is involved in the technology and distribution business, that includes water purification, packaging equipment, vibration dampening, technical plastics, and process technology.

Full company description

Berner Industrier AB engages in the technology distribution, and energy and environment business in Sweden, Norway, Finland, and Denmark. It is involved in the technology and distribution business, that includes water purification, packaging equipment, vibration dampening, technical plastics, and process technology. The company also provides energy and environment products, such as electric boilers, high pressure pumps, food and pharmaceutical pumps, industrial dampers, sound isolation, and noise-reducing control cabins. In addition, it offers wear parts and noisy machinery for industrial corporates; dosing pumps; disinfection system; food packaging and related packaging materials; vibration-damping products, such as ballast and sleeper mats for vibration insulation, structure-borne noise, and impact sound attenuation. The company was formerly known as Christian Berner Tech Trade AB (publ) and changed its name to Berner Industrier AB in May 2024. The company was founded in 1897 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Berner Industrier AB reported revenue of 1.0B SEK in FY2025 versus 743M SEK in FY2021, a compound +7.7%/yr. Reported net income was 72.1M SEK in FY2025, compounding +33.5%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.0B SEK
Latest YoY
+3.9%
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.
+5.9%
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.
+7.5%
Avg. revenue growth/yr (15Y) 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.
+8.4%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+17.9% (17.9 + 0.0)
Revenue +7.7%/yr
FY21 743M SEK
FY22 842M SEK
FY23 943M SEK
FY24 963M SEK
FY25 1.0B SEK
Net income +33.5%/yr
FY21 22.7M SEK
FY22 24.3M SEK
FY23 45.4M SEK
FY24 36.9M SEK
FY25 72.1M SEK
Character of growth · EPS growth decomposed (2014-2025) +12.4 % p.a.
Revenue per share +8.8 %

of which total revenue +9.8 % · buybacks/dilution −0.9 %

EBIT margin +5.3 %
Tax rate −0.8 %
Residual (interest, one-offs) −1.1 %

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). "Berner Industrier AB Fair Value". https://www.fairvalue-calculator.com/stock/BERNER-B

Peer Group

Specialty Industrial Machinery · 791 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 63 · Top 25%
Fair Value upside +6% · Top 25%
Return on equity (TTM) 25% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 7% · Below median
Revenue growth 7% · Above median
Dividend yield (TTM) 1.6% · Above median
Debt / equity 0.21× · Higher than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 19.7× · Cheaper than median
P/B 4.83× · Pricier than 75% of peers
P/S (TTM) 1.49× · Cheaper than median
P/FCF 1.7× · Cheaper than median
EV/EBITDA 14.8× · 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
VALUE42 · sector 0
FUTURE37 · sector 21
PAST98 · sector 28
HEALTH90 · sector 96
DIVIDEND33 · sector 27

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $941.84 $131.95 −86%
SIE SIE €289.85 €139.77 −52%
Eaton Corporation ETN $402.78 $168.65 −58%
Parker-Hannifin Corporation PH $995.02 $398.69 −60%
Atlas Copco AB ATCOA kr 206.60 kr 112.59 −46%
Cummins Inc CMI $564.40 $348.94 −38%
Illinois Tool Works Inc ITW $281.67 $145.84 −48%
Emerson Electric Co EMR $155.18 $58.44 −62%
AMETEK, Inc AME $236.25 $125.80 −47%
Rockwell Automation, Inc ROK $417.53 $125.76 −70%

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Frequently asked questions

Is Berner Industrier AB (BERNER-B) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of kr 81.14 versus a price of kr 76.30, about +6% upside (fairly valued).
What is the fair value of BERNER-B?
Our model-based fair value for Berner Industrier AB is kr 81.14 (as of Sep 5, 2026), built from audited fundamentals. The current price: kr 76.30.
What is the quality score of BERNER-B?
Berner Industrier AB has a Quality Score of 63/100. 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 Berner Industrier AB (BERNER-B)?
Berner Industrier AB reported trailing-twelve-month revenue of about 1.0B SEK (latest available figure, as of Sep 5, 2026).
What is the net profit margin of BERNER-B?
The net profit margin of Berner Industrier AB is about 7.1%, meaning it keeps roughly 7.1% of revenue as net income. Based on the latest reported figures.
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