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Byggmax Group (BMAX) Fair Value & Analysis

Consumer Cyclical · SE · Market cap 2.9B SEK

BG Byggmax Group BMAX · ST
Pricekr 52.20
Fair Valuekr 55.39
Upside+6.1%
Quality64/100
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Weak Growth
Thin margins · 3.2% net margin
Low debt · generates free cash flow
3.33% dividend yield
Ranks above peers (12/15)
Narrow moat 31/100
Evidence: High Range kr 41.54 – kr 69.23 Share as image

Fair value as of: Jul 11, 2026

From 23 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from kr 71.68 to kr 55.39 (−22.7%) since Jun 24, 2026. Share price +0.8% over the past month.

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

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from kr 41.54 (bear) to kr 69.23 (bull), base kr 55.39. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 64/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

kr 81.66 kr 24.71 Fair Value kr 55.39 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range kr 24.71 – kr 81.66 · fair‑value band kr 41.54 – kr 69.23 · the kr 52.20 price screens below the kr 55.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Byggmax Group (BMAX) currently trades at kr 52.20, while our model-based Fair Value estimate is kr 55.39, implying the stock looks roughly 6.1% fairly valued today. The Quality Score stands at 64/100 (solid quality), in the Consumer Cyclical 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: high), always confirm before acting.

Over the trailing twelve months, Byggmax Group generated revenue of 6.1B SEK at a net margin of 3.2%. Revenue declined 5.3% year over year. It earns a return on equity of 8.3%. Net debt stands at 3.3B SEK. Fundamentals as of Jul 11, 2026

Our scenario range runs from kr 41.54 (bear case) to kr 69.23 (bull case); at kr 52.20, 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 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -21% fair-value upside, at 6%, BMAX 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 133.58 kr 183.44 kr 248.57 80
Residual Income kr 34.81 kr 36.80 kr 39.92 76
Rev-Margin DCF kr 73.93 kr 99.72 kr 128.25 74
All 23 models by family
DCF Models
FCF DCF kr 130.26 kr 184.26 kr 258.01 38
Owner Earnings kr 137.52 kr 194.54 kr 272.41 31
5Y Revenue Exit kr 73.93 kr 97.39 kr 124.91 39
5Y EBITDA Exit kr 127.26 kr 192.22 kr 264.34 41
5Y P/E Exit kr 78.48 kr 105.49 kr 131.70 38
10Y Revenue Exit kr 93.45 kr 118.19 kr 146.64 36
10Y EBITDA Exit kr 127.21 kr 180.84 kr 245.92 37
10Y P/E Exit kr 97.40 kr 123.54 kr 151.47 35
Earnings-Based
Graham-Dodd kr 22.15 kr 51.99 kr 66.90 54
PEG = 1.0 kr 8.92 kr 12.74 kr 16.56 46
EPV kr 36.94 kr 42.74 kr 47.75 59
Multiples
P/E Multiple kr 53.76 kr 71.68 kr 89.59 63
P/S Multiple kr 41.54 kr 55.39 kr 69.23 58
P/B Multiple kr 41.54 kr 55.39 kr 69.23 55
EV/EBIT kr 63.05 kr 84.01 kr 104.96 53
EV/EBITDA kr 143.42 kr 191.16 kr 238.91 54
EV/Revenue kr 42.56 kr 60.72 kr 78.89 43
Asset-Based
NCAV (Graham) kr 21.46 kr 28.75 kr 42.92 50
Growth DCF
Growth DCF kr 133.58 kr 183.44 kr 248.57 80
Rev-Margin DCF kr 73.93 kr 99.72 kr 128.25 74
Economic Profit
Residual Income kr 34.81 kr 36.80 kr 39.92 76
ROIC Compounder kr 36.94 kr 42.74 kr 50.58 72
Growth Earnings
Growth-Adj P/E kr 40.54 kr 57.92 kr 75.29 68

Widest divergence: DCF Models (kr 123.54) versus Asset-Based (kr 28.75). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 6.1B SEK
Revenue growth (YoY) -5.3%
Net margin 3.2%
Return on equity 8.3%
Free cash flow 752M SEK FY2025
P/E ratio 15.2
More key figures
Operating margin -14.3%
EPS (TTM) kr 3.30
Dividend yield 3.3%
EPS growth (YoY) +13.2%
Net debt 3.3B SEK FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 62 · Market factors (momentum, volatility) 46

Profitability 38
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 82
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

Byggmax Group AB (publ) sells building materials and related products for DIY projects in Sweden, Norway, and internationally. The company offers timber products, cement, insulation, tools, paint, tiles, storage, garden buildings, green houses, and garden products.

Full company description

Byggmax Group AB (publ) sells building materials and related products for DIY projects in Sweden, Norway, and internationally. The company offers timber products, cement, insulation, tools, paint, tiles, storage, garden buildings, green houses, and garden products. wood, board materials, garden products, tools and machines, electricity and plumbing, fittings, fastening and fasteners, casting and foundation, ceiling, insulation, and garage and workshop equipment. It also offers windows and doors, flooring, kitchen, interior, outdoor, color, bathroom, and other products through its physical and online stores. Byggmax Group AB (publ) was founded in 1993 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Byggmax Group reported revenue of kr 6.1B in FY2025 versus kr 7.6B in FY2021, a compound −5.4%/yr. Reported net income was kr 191M in FY2025, compounding −25.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
6.1B SEK
Latest YoY
+2.5%
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.
−5.5%
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.
−2.0%
Avg. growth/yr (18Y) 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.
+7.1%
Revenue −5.4%/yr
FY21 kr 7.6B
FY22 kr 7.3B
FY23 kr 6.1B
FY24 kr 6.0B
FY25 kr 6.1B
Net income −25.5%/yr
FY21 kr 621M
FY22 kr 313M
FY23 kr 26.0M
FY24 kr 67.0M
FY25 kr 191M
Character of growth · EPS growth decomposed (2014-2025) −9.9 % p.a.
Revenue per share +4.4 pp

of which total revenue +3.9 pp · buybacks/dilution +0.5 pp

EBIT margin −8.6 pp
Tax rate +1.2 pp
Residual (interest, one-offs) −6.9 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). "Byggmax Group Fair Value". https://www.fairvalue-calculator.com/stock/BMAX

Peer Group

Home Improvement Retail · 36 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 64 · Above median
Fair Value upside +6% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 3% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) -14% · Bottom 25%
Revenue growth -5% · Bottom 25%
Dividend yield (TTM) 3.3% · Above median

Valuation Multiples vs Home Improvement Retail median · lower = cheaper

P/E (TTM) 15.2× · Cheaper than median
P/B 1.17× · Cheaper than median
P/S (TTM) 0.48× · Cheaper than median
P/FCF 0.4× · Cheaper than median
EV/EBITDA 6.2× · Cheaper than median
PEG 0.57× · 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 41 · sector 25
FUTURE 0 · sector 11
PAST 33 · sector 30
HEALTH 100 · sector 95
DIVIDEND 67 · sector 50

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 Home Improvement Retail stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
The Home Depot, Inc HD $337.74 $236.85 -30%
Lowe's Companies, Inc LOW $209.66 $186.32 -11%
Wesfarmers Limited WES A$92.80 A$50.50 -46%
Floor & Decor Holdings FND $56.40 $32.81 -42%
Mr D.I.Y. Group 5296 1.70 MYR 1.47 MYR -14%
Home Product Center Public Company HMPROR 6.65 THB 6.31 THB -5%
Siam Global House Public Company GLOBAL 7.50 THB 5.96 THB -21%
Dohome Public Company DOHOME 3.86 THB 2.90 THB -25%
Haverty Furniture Companies, Inc HVT $25.66 $22.53 -12%
Test-Rite International Co 2908 22.00 TWD 9.18 TWD -58%

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Frequently asked questions

Is Byggmax Group (BMAX) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of kr 55.39 versus a price of kr 52.20, about +6% (fairly valued).
What is the fair value of BMAX?
Our model-based fair value for Byggmax Group is kr 55.39 (as of Jul 11, 2026), built from audited fundamentals. The current price is kr 52.20.
What is the quality score of BMAX?
Byggmax Group has a Quality Score of 64/100. 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 Byggmax Group (BMAX)?
Byggmax Group reported trailing-twelve-month revenue of about 6.1B SEK (latest available figure, as of Jul 11, 2026).
What is the net profit margin of BMAX?
The net profit margin of Byggmax Group is about 3.2%, meaning it keeps roughly 3.2% of revenue as net income. Based on the latest reported figures.
Does Byggmax Group pay a dividend?
Byggmax Group currently shows a dividend yield of about 3.46% relative to its recent price (as of Jul 11, 2026).

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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