BTS Group AB (publ) (BTS-B) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of BTS Group AB (publ) stock SEK 150, price SEK 225, upside -33.2%, quality 56 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 13, 2026.
How to read this chart
60‑month range kr 105.17 – kr 400.48 · fair‑value band kr 112.55 – kr 187.58 · the kr 224.50 price screens above the kr 150.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 13, 2026.
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BTS Group AB (publ) operates as a professional services firm in North America, Europe, Latin America, Africa, the Middle East, and internationally. The company offers strategy execution; leadership development; sales and marketing; and talent insights and assessment.
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It also provides AI and innovation; business simulation; change and transform; coaching; executive and team performance; custom digital learning; and diversity equity inclusion related services. BTS Group AB (publ) was founded in 1986 and is headquartered in Stockholm, Sweden.
Stock analysis
BTS Group AB (publ) (BTS-B) currently trades at kr 224.50, while our model-based Fair Value estimate is kr 150.07, 33.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 189.28 per share, and 3 of the 24 models we run sit above the kr 224.50 price.
Bear case: the Economic Profit group reads lowest at kr 70.51, and 21 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 112.55 (bear) to kr 187.58 (bull), the price of kr 224.50 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 56/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
BTS Group AB (publ) reported revenue of 2.7B SEK in FY2025 versus 1.9B SEK in FY2021, a compound +9.0%/yr. Reported net income was 133M SEK in FY2025, compounding −11.4%/yr from FY2021.
Key figures
Market cap 4.4B SEK (≈ $439M) Small · P/E ratio 43.0 · P/S ratio 1.61 · EPS (TTM) kr 4.90 · Dividend yield 2.0% · Net margin 3.5% · Return on equity 6.3% · Return on assets (EBIT) 9.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and 113% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 2% fair-value upside, at −33%, BTS-B screens richer than that median.
Fair Value models
Bearkr 112.55Fair Value kr 150.07Bullkr 187.58
Price kr 224.50 · Upside -33.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 0.4014 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−3.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+2.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+13.0%
Start year 2020 (pandemic). Over 10 years: +10.0% a year
Revenue growth 23 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+12.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+0.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.2%
Dividend (yield on the price)2.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−2.7% vs 5.8%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 8%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+16.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +14.1% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Consulting Services · 73 stocks
Beats the industry median on 2/15 measures
Overall it trails its industry peers.
Valuation
Quality Score56 · Below median
Fair Value upside−33.2% · Bottom 25%
Profitability
Return on equity (12 months)6.3% · Below median
Return on assets4.2% · Below median
Net margin (12 months)3.5% · Below median
Operating margin (12 months)10.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)6.5% · Above median
Dividend yield (12 months)2.0% · Bottom 25%
Balance sheet
Debt / equity0.35× · Above median
Valuation Multiplesvs Consulting Services median · lower = cheaper
P/E (12 months)43.0× · Priciest 25%
P/B3.01× · Pricier than median
P/S (12 months)1.61× · Pricier than median
Price / free cash flow28.2× · Priciest 25%
EV/EBITDA13.4× · Pricier than median
PEG1.88× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 49
FUTURE (revenue growth)33· sector 8
PAST (return on equity)25· sector 35
HEALTH (low debt)83· sector 87
DIVIDEND (yield)39· sector 66
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "BTS Group AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/BTS-B
Frequently asked questions
Is BTS Group AB (publ) (BTS-B) overvalued or undervalued?
As of Oct 13, 2026, our model estimates a fair value of kr 150.07 versus a price of kr 224.50, about −33% upside (overvalued).
What is the fair value of BTS-B?
Our model-based fair value for BTS Group AB (publ) is kr 150.07 (as of Oct 13, 2026), built from audited fundamentals. The current price: kr 224.50.
What is the quality score of BTS-B?
BTS Group AB (publ) has a Quality Score of 56/100. 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 price target for BTS Group AB (publ) (BTS-B)?
Our model-based price target is the fair value of kr 150.07 (as of Oct 13, 2026) from 24 valuation models. Cautious scenario kr 112.55, optimistic scenario kr 187.58. It is a calculation from audited fundamentals, not an analyst target.
What is the BTS Group AB (publ) stock forecast for 2026?
Our models put fair value at kr 150.07, about −33% upside versus a price of kr 224.50 (overvalued). Cautious scenario kr 112.55, optimistic scenario kr 187.58. The calculation is refreshed regularly with new filings.
What is the revenue of BTS Group AB (publ) (BTS-B)?
BTS Group AB (publ) reported trailing-twelve-month revenue of about 2.7B SEK (latest available figure, as of Oct 13, 2026).
Does BTS Group AB (publ) pay a dividend?
BTS Group AB (publ) currently shows a dividend yield of 1.96% relative to its recent price (as of Oct 13, 2026).
What growth is priced into BTS Group AB (publ) (BTS-B)?
For today's price to be fair in a discounted-cash-flow model, BTS Group AB (publ) would have to grow free cash flow by +16.3 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.1 % per year. As of Oct 13, 2026.
What discount rate (WACC) does the fair value of BTS-B use?
Our models discount BTS Group AB (publ) at 9.9 %: a base by market capitalisation (small), damped by beta 0.61, country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For BTS Group AB (publ) that is +16.3 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has BTS Group AB (publ) (BTS-B) delivered so far?
Over the past 5 years revenue at BTS Group AB (publ) grew +13.1 % a year. The price currently implies +16.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of BTS Group AB (publ) (BTS-B) growing?
The median revenue growth in the sector is +7.5 % a year. That is the yardstick for the growth priced into BTS Group AB (publ) (+16.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of BTS Group AB (publ) (BTS-B)?
The free-cash-flow yield on the price is 3.55 %: that much free cash flow BTS Group AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of BTS Group AB (publ) (BTS-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BTS Group AB (publ) it is kr 150.07 per share (as of Oct 13, 2026), against a price of kr 224.50. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is BTS Group AB (publ) stock overvalued or undervalued in 2026?
As of Oct 13, 2026, BTS-B trades above its calculated fair value: price kr 224.50, fair value kr 150.07, a gap of about −33% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BTS-B?
No. The price is what the market pays today (kr 224.50); the fair value is what the company's own numbers justify (kr 150.07). For BTS Group AB (publ) the two are kr 74.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is BTS Group AB (publ) worth?
The market values BTS Group AB (publ) at about 4.4B SEK (market capitalisation, as of Oct 13, 2026). Per share that is kr 224.50; our models calculate a fair value of kr 150.07 per share.
What do the bullish and bearish scenarios say about BTS-B?
Our models span a range for BTS Group AB (publ): cautious scenario kr 112.55, base kr 150.07, optimistic kr 187.58 per share (as of Oct 13, 2026, price kr 224.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BTS-B?
BTS Group AB (publ) trades at a price-to-earnings ratio of 43.0 (as of Oct 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 150.07 is built from several models across several years. Other multiples: PEG 1.9, P/B 3.0, P/S 1.6, EV/EBITDA 13.4.
What is the PEG ratio of BTS-B?
The PEG ratio of BTS Group AB (publ) is 1.88 (P/E divided by earnings growth, as of Oct 13, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of BTS Group AB (publ) (BTS-B)?
Balance-sheet figures for BTS Group AB (publ) (as of Oct 13, 2026): return on equity 6.3%, debt of 0.35 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is BTS-B from its 52-week high?
BTS Group AB (publ) trades at kr 224.50, at its 52-week high of kr 225.00 and 113% above the low of kr 105.17 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of kr 150.07 is for.
Which stocks are comparable to BTS Group AB (publ)?
From the same area (Industrials) we also value SGS SA, Verisk Analytics, Inc, Equifax Inc, Bureau Veritas SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is BTS Group AB (publ) stock attractive at the current price?
The data as of Oct 13, 2026: price kr 224.50, calculated fair value kr 150.07 (−33%), Quality Score 56/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BTS-B calculated?
We run BTS Group AB (publ) through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 150.07, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9 % above its aggregate fair value. BTS Group AB (publ) itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of BTS Group AB (publ) (BTS-B)?
The closing price on Oct 19, 2026 was kr 224.50. Our model-based fair value is kr 150.07, about −33% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BTS Group AB (publ) right now?
The price sits above even our optimistic bull case (kr 187.58). The favourable scenario is already priced in. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of BTS Group AB (publ) (BTS-B) come from?
Earnings per share at BTS Group AB (publ) grew +14.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +11.6 %, EBIT margin −0.6 %, tax rate +1.9 %, residual (interest, one-offs) +1.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of BTS Group AB (publ)
How large is the market capitalisation of BTS Group AB (publ) (BTS-B)?
The market capitalisation of BTS Group AB (publ) is 4.4B SEK (≈ $439M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of BTS Group AB (publ) (BTS-B)?
The price-to-sales ratio of BTS Group AB (publ) is 1.61 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of BTS Group AB (publ) (BTS-B)?
Earnings per share at BTS Group AB (publ) are kr 4.90 (price ÷ EPS = P/E 43.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BTS Group AB (publ) (BTS-B)?
The dividend yield of BTS Group AB (publ) is 2.0% (payout 89.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of BTS Group AB (publ) (BTS-B)?
The net margin of BTS Group AB (publ) is 3.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of BTS Group AB (publ) (BTS-B)?
The return on equity (ROE) of BTS Group AB (publ) is 6.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of BTS Group AB (publ) (BTS-B)?
On an EBIT basis the return on assets of BTS Group AB (publ) is 9.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of BTS Group AB (publ) (BTS-B)?
The operating margin of BTS Group AB (publ) is 10.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BTS Group AB (publ) (BTS-B)?
Revenue at BTS Group AB (publ) is growing +6.5% versus a year earlier (3y avg +2.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at BTS Group AB (publ) (BTS-B)?
Earnings per share at BTS Group AB (publ) are growing +7.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does BTS Group AB (publ) (BTS-B) hold?
BTS Group AB (publ) holds more cash than debt, 46.1M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 13, 2026