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Bulten AB (BULTEN) Fair Value & Analysis

Consumer Cyclical · SE · Market cap 1.1B SEK

BA Bulten AB BULTEN · ST
Pricekr 60.80
Fair Valuekr 59.08
Upside-2.8%
Quality50/100
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Mixed Growth
Loss-making · -21.7% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (6/14)
Narrow moat 28/100
Evidence: Medium Range kr 59.08 – kr 109.68 Share as image

Fair value as of: Jul 16, 2026

From 13 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from kr 29.54 to kr 59.08 (+100.0%) since Jun 25, 2026. Share price +18.5% 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.
  • A fairly wide model range (kr 59.08 to kr 109.68) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 100.95 kr 40.05 Fair Value kr 59.08 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 40.05 – kr 100.95 · fair‑value band kr 59.08 – kr 109.68 · the kr 60.80 price screens above the kr 59.08 fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Bulten AB (BULTEN) currently trades at kr 60.80, while our model-based Fair Value estimate is kr 59.08, implying the stock looks roughly 2.8% fairly valued today. The Quality Score stands at 50/100 (solid 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: medium).

Over the trailing twelve months, Bulten AB generated revenue of 4.9B SEK at a net margin of 0.2%. Revenue declined 12.4% year over year. It earns a return on equity of 2.2%. Net debt stands at 1.5B SEK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 59.08 (bear case) to kr 109.68 (bull case); at kr 60.80, 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 5% below its 52-week high and 53% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at -3%, BULTEN 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 78.42 kr 115.95 kr 161.13 80
Rev-Margin DCF kr 39.67 kr 68.65 kr 101.10 74
ROIC Compounder kr 1.91 72
All 13 models by family
DCF Models
FCF DCF kr 76.87 kr 118.77 kr 171.82 38
5Y Revenue Exit kr 39.67 kr 66.72 kr 99.07 39
5Y EBITDA Exit kr 84.84 kr 148.22 kr 219.45 41
10Y Revenue Exit kr 53.07 kr 79.17 kr 110.28 36
10Y EBITDA Exit kr 80.29 kr 129.88 kr 191.45 37
Earnings-Based
EPV kr 1.91 59
Multiples
EV/EBIT kr 41.60 kr 66.90 kr 92.20 53
EV/EBITDA kr 108.06 kr 155.52 kr 202.97 54
EV/Revenue kr 16.86 kr 38.78 kr 60.71 43
Asset-Based
NCAV (Graham) kr 41.05 kr 55.00 kr 82.09 50
Growth DCF
Growth DCF kr 78.42 kr 115.95 kr 161.13 80
Rev-Margin DCF kr 39.67 kr 68.65 kr 101.10 74
Economic Profit
ROIC Compounder kr 1.91 72

Widest divergence: DCF Models (kr 118.77) versus Asset-Based (kr 55.00). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 4.8B SEK
Revenue growth (YoY) -7.2%
Net margin -21.7%
Return on equity 1.9%
Free cash flow 259M SEK FY2025
P/E ratio 98.2
More key figures
Operating margin 7.7%
EPS (TTM) kr -0.1700
EPS growth (YoY) +270%
Net debt 1.5B SEK FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 48 · Market factors (momentum, volatility) 65

Profitability 33
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 39
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 69
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

Bulten AB (publ), together with its subsidiaries, manufactures and distributes fasteners in Sweden, Poland, Germany, the United Kingdom, rest of Europe, the United States, China, and internationally.

Full company description

Bulten AB (publ), together with its subsidiaries, manufactures and distributes fasteners in Sweden, Poland, Germany, the United Kingdom, rest of Europe, the United States, China, and internationally. The company offers bolts and screws, including screws/bolts with patches, screws for plastics, sems, thread forming, self-aligning, all-metal locking, and weld screws/bolts; nuts, such as hex, flange, self-clinching, cap, wheel, weld nuts, and flange nuts with captive washer; miniature fasteners; compression limiters and captive bolt assemblies; inserts for plastics; clinch fasteners; and other C-parts, as well as customer design solutions. It also provides rapid prototyping, product design, resident engineering, full-service provider, customized logistics solutions, streamlining assortment, vendor managed inventory, and measurement of clamp load services. The company serves automotive, consumer electronics, white goods and home appliances, industrial, medical equipment, renewable energy, lawn and garden, leisure and adventure equipment, infrastructure development, and precision instruments sectors. The company was formerly known as FinnvedenBulten AB (publ) and changed its name to Bulten AB (publ) in September 2014. Bulten AB (publ) was founded in 1873 and is headquartered in Gothenburg, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bulten AB reported revenue of kr 5.0B in FY2025 versus kr 3.7B in FY2021, a compound +7.8%/yr. Reported net income was −kr 11.0M in FY2025.

Growth Quality 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
5.0B SEK
Latest YoY
−13.1%
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.
+4.1%
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.
+9.6%
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.
+2.9%
Revenue +7.8%/yr
FY21 kr 3.7B
FY22 kr 4.5B
FY23 kr 5.8B
FY24 kr 5.8B
FY25 kr 5.0B
Net income
FY21 kr 143M
FY22 kr 74.0M
FY23 kr 103M
FY24 kr 135M
FY25 −kr 11.0M
Character of growth · EPS growth decomposed (2014-2025) −2.6 % p.a.
Revenue per share +9.8 pp

of which total revenue +9.9 pp · buybacks/dilution −0.1 pp

EBIT margin −3.8 pp
Tax rate −2.2 pp
Residual (interest, one-offs) −6.2 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). "Bulten AB Fair Value". https://www.fairvalue-calculator.com/stock/BULTEN

Peer Group

Auto Parts · 641 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 50 · Below median
Fair Value upside −3% · Above median
Return on equity (TTM) 2% · Bottom 25%
Return on assets 2% · Below median
Net margin (TTM) -22% · Bottom 25%
Operating margin (TTM) 8% · Above median
Revenue growth -7% · Bottom 25%
Debt / equity 0.59× · Higher than 75% of peers

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 98.2× · Pricier than 75% of peers
P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.02× · Cheaper than 75% of peers
P/FCF 0.4× · Cheaper than median
EV/EBITDA 2.2× · Cheaper than 75% of peers
PEG 1.22× · Pricier than median

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 30 · sector 17
FUTURE 0 · sector 24
PAST 8 · sector 26
HEALTH 71 · sector 95
DIVIDEND 0 · sector 30

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 Auto Parts stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

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Bosch Limited BOSCHLTD ₹41,110 ₹14,004 -66%
Bharat Forge Limited BHARATFORG ₹2,117 ₹441.74 -79%
Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
Schaeffler India Limited SCHAEFFLER ₹4,135 ₹1,412 -66%
Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
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Frequently asked questions

Is Bulten AB (BULTEN) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 59.08 versus a price of kr 60.80, about −3% (fairly valued).
What is the fair value of BULTEN?
Our model-based fair value for Bulten AB is kr 59.08 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 60.80.
What is the quality score of BULTEN?
Bulten AB has a Quality Score of 50/100. 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 Bulten AB (BULTEN)?
Bulten AB reported trailing-twelve-month revenue of about 4.9B SEK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of BULTEN?
The net profit margin of Bulten AB is about 0.2%, meaning it keeps roughly 0.2% of revenue as net income. Based on the latest reported figures.

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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