Nimbus Group (BOAT) Fair Value & Analysis
Consumer Cyclical · SE · Market cap 488M SEK
Fair value as of: Jul 11, 2026
From 3 valuation models · updated 30 days ago
Fair value updated Jul 11, 2026, revised from kr 92.52 to kr 8.51 (−90.8%) since Jun 24, 2026. Share price +2.2% over the past month.
Below-average quality, and screening another 27% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 11.27). The favourable scenario is already priced in.
- Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (kr 4.95 to kr 11.27) leaves room in how you read the outcome.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (5 years)
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 10.10 – kr 82.24 · fair‑value band kr 4.95 – kr 11.27 · the kr 11.70 price screens above the kr 8.51 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.
Analysis
Nimbus Group (BOAT) currently trades at kr 11.70, while our model-based Fair Value estimate is kr 8.51, implying the stock looks roughly 27.3% overvalued today. The Quality Score stands at 36/100 (below-average quality), in the Consumer Cyclical 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: low).
Over the trailing twelve months, Nimbus Group generated revenue of 1.3B SEK at a net margin of -10.6%. Revenue declined 14.4% year over year. It earns a return on equity of -13.5%. Net debt stands at 260M SEK. Fundamentals as of Jul 11, 2026
Our scenario range runs from kr 4.95 (bear case) to kr 11.27 (bull case); at kr 11.70, 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 31% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 6% fair-value upside, at -27%, BOAT 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.
All 3 models by family
Widest divergence: Asset-Based (kr 15.50) versus Dividend Discount (kr 7.89). Highest evidence: Gordon GGM (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 36 · Market factors (momentum, volatility) 23
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
Nimbus Group AB (Publ) designs, manufactures, and markets leisure motorboats in the Nordics, Europe, North America, and internationally. It also provides spare parts and accessories; aftermarket services; and winter storage services.
Full company description
Nimbus Group AB (Publ) designs, manufactures, and markets leisure motorboats in the Nordics, Europe, North America, and internationally. It also provides spare parts and accessories; aftermarket services; and winter storage services. The company offers its products under the Nimbus, Alukin, Aquador, Bella, Falcon, Flipper, EdgeWater, and Paragon Yachts brand names. Nimbus Group AB (Publ) was founded in 1968 and is based in Västra Frölunda, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Nimbus Group reported revenue of kr 1.4B in FY2025 versus kr 1.5B in FY2021, a compound −1.6%/yr. Reported net income was −kr 168M in FY2025.
BOAT screens 27% overvalued. Compare with Zhejiang Cfmoto Power Co →
Peer Group
Recreational Vehicles · 37 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 Recreational Vehicles 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.
Similar stocks
10 more Recreational Vehicles stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Zhejiang Cfmoto Power Co 603129 | ¥293.01 | ¥199.10 | -32% |
| Brunswick Corporation BC | $80.45 | $16.76 | -79% |
| BRP Inc DOO | C$85.96 | C$86.81 | +1% |
| Polaris Inc PII | $67.40 | $29.83 | -56% |
| THOR Industries, Inc THO | $72.86 | $97.14 | +33% |
| Trigano S.A TRI | €149.60 | €273.48 | +83% |
| Patrick Industries, Inc PATK | $82.70 | $85.54 | +3% |
| Harley-Davidson, Inc HOG | $26.81 | $64.09 | +139% |
| LCI Industries, LCII | $108.17 | $156.35 | +45% |
| Sanlorenzo S.p.A SL | €38.30 | €40.65 | +6% |
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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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