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Cedergrenska AB (CEDER) Fair Value & Analysis

Consumer Defensive · SE · Market cap 608M SEK

CA Cedergrenska AB CEDER · ST
Pricekr 46.10
Fair Valuekr 35.66
Upside-22.7%
Quality70/100
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Healthy Growth
Thin margins · 2.2% net margin
Moderate debt · generates free cash flow
3.92% dividend yield
Ranks above peers (9/13)
Moderate moat 50/100
Evidence: High Range kr 26.75 – kr 44.58 Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 27 days ago

Fair value updated Jul 14, 2026, revised from kr 48.05 to kr 35.66 (−25.8%) since Jun 24, 2026. Share price −4.9% over the past month.

A solid business, but screening 23% overvalued on our models.

What matters now

  • A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (kr 44.58). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

kr 49.50 kr 9.80 Fair Value kr 35.66 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range kr 9.80 – kr 49.50 · fair‑value band kr 26.75 – kr 44.58 · the kr 46.10 price screens above the kr 35.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Cedergrenska AB (CEDER) currently trades at kr 46.10, while our model-based Fair Value estimate is kr 35.66, implying the stock looks roughly 22.7% overvalued today. The Quality Score stands at 70/100 (solid quality), in the Consumer Defensive 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: high).

Over the trailing twelve months, Cedergrenska AB generated revenue of 1.5B SEK at a net margin of 2.2%. Revenue grew 14.1% year over year. It earns a return on equity of 21.3%. The balance sheet holds a net cash position of 38.2M SEK. Fundamentals as of Jul 14, 2026

Our scenario range runs from kr 26.75 (bear case) to kr 44.58 (bull case); at kr 46.10, 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 10% below its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 17% fair-value upside, at -23%, CEDER 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.

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 74.15 kr 121.05 kr 207.33 80
Residual Income kr 12.14 kr 13.52 kr 20.17 76
Rev-Margin DCF kr 49.80 kr 89.74 kr 152.23 74
All 24 models by family
DCF Models
FCF DCF kr 78.95 kr 113.84 kr 218.13 38
Owner Earnings kr 74.34 kr 150.81 kr 292.69 31
5Y Revenue Exit kr 49.80 kr 78.78 kr 136.92 39
5Y EBITDA Exit kr 77.44 kr 136.03 kr 247.60 41
5Y P/E Exit kr 45.07 kr 80.03 kr 124.38 38
10Y Revenue Exit kr 57.85 kr 104.21 kr 137.66 36
10Y EBITDA Exit kr 77.20 kr 155.97 kr 300.77 37
10Y P/E Exit kr 55.89 kr 95.36 kr 159.30 35
Earnings-Based
Graham-Dodd kr 11.02 kr 76.87 kr 107.88 54
Lynch FV kr 26.31 kr 37.59 kr 48.87 50
PEG = 1.0 kr 26.31 kr 37.59 kr 48.87 46
EPV kr 17.59 kr 19.57 kr 21.22 59
Multiples
P/E Multiple kr 26.75 kr 35.66 kr 44.58 63
P/S Multiple kr 20.67 kr 27.56 kr 34.45 58
P/B Multiple kr 20.67 kr 27.56 kr 34.45 55
EV/EBIT kr 49.81 kr 65.40 kr 80.98 53
EV/EBITDA kr 77.87 kr 102.81 kr 127.75 54
EV/Revenue kr 34.57 kr 48.08 kr 61.59 43
Asset-Based
NCAV (Graham) kr 7.07 kr 9.47 kr 14.14 50
Growth DCF
Growth DCF kr 74.15 kr 121.05 kr 207.33 80
Rev-Margin DCF kr 49.80 kr 89.74 kr 152.23 74
Economic Profit
Residual Income kr 12.14 kr 13.52 kr 20.17 76
ROIC Compounder kr 19.96 kr 26.74 kr 31.04 72
Growth Earnings
Growth-Adj P/E kr 35.14 kr 50.20 kr 65.26 68

Widest divergence: DCF Models (kr 104.21) versus Asset-Based (kr 9.47). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.5B SEK
Revenue growth (YoY) +14.1%
Net margin 2.2%
Return on equity 21.3%
Free cash flow 70.6M SEK FY2025
P/E ratio 6.5
More key figures
Operating margin 4.6%
EPS (TTM) kr 7.36
Dividend yield 3.9%
EPS growth (YoY) +37.7%
Net cash 38.2M SEK FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 70 · Market factors (momentum, volatility) 66

Profitability 61
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 67
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

Cedergrenska AB (publ) provides education services in Sweden. It operates preschool, elementary, and upper secondary schools, as well as operates gymnasiums and adult education centers. Cedergrenska AB (publ) was founded in 2017 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cedergrenska AB reported revenue of kr 1.2B in FY2025 versus kr 578M in FY2021, a compound +20.9%/yr. Reported net income was kr 20.5M in FY2025, compounding +7.3%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.2B SEK
Latest YoY
+45.8%
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.
+18.9%
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.
+20.5%
Avg. growth/yr (7Y) 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.
+28.9%
Revenue +20.9%/yr
FY21 kr 578M
FY22 kr 733M
FY23 kr 817M
FY24 kr 845M
FY25 kr 1.2B
Net income +7.3%/yr
FY21 kr 15.5M
FY22 kr 2.3M
FY23 −kr 7.0M
FY24 kr 6.6M
FY25 kr 20.5M

CEDER screens 23% overvalued. Compare with New Oriental Education & Technology Group →

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Cite: Fair Value Calculator (2026). "Cedergrenska AB Fair Value". https://www.fairvalue-calculator.com/stock/CEDER

Peer Group

Education & Training Services · 148 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 70 · Top 25%
Fair Value upside −23% · Below median
Return on equity (TTM) 21% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 2% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 14% · Above median
Dividend yield (TTM) 3.9% · Above median
Debt / equity 0.50× · Higher than 75% of peers

Valuation Multiples vs Education & Training Services median · lower = cheaper

P/E (TTM) 6.5× · Cheaper than 75% of peers
P/B 0.36× · Cheaper than median
P/S (TTM) 0.04× · Cheaper than 75% of peers
P/FCF 0.9× · Cheaper 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 3 · sector 37
FUTURE 71 · sector 24
PAST 85 · sector 18
HEALTH 75 · sector 95
DIVIDEND 78 · sector 66

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 Education & Training Services stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
New Oriental Education & Technology Group EDUN 966.48 MXN 897.37 MXN -7%
TAL Education Group TAL $10.24 $15.60 +52%
Laureate Education, Inc LAUR $36.45 $41.45 +14%
Physicswallah Limited PWL ₹131.59 ₹14.81 -89%
Grand Canyon Education, Inc LOPE $149.00 $152.01 +2%
Covista Inc CVSA $116.22 $135.45 +17%
Stride, Inc LRN $83.39 $139.45 +67%
Universal Technical Institute, Inc UTI $40.33 $21.35 -47%
Perdoceo Education Corporation PRDO $31.66 $41.45 +31%
Strategic Education, Inc STRA $84.18 $105.48 +25%

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Frequently asked questions

Is Cedergrenska AB (CEDER) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of kr 35.66 versus a price of kr 46.10, about −23% (overvalued).
What is the fair value of CEDER?
Our model-based fair value for Cedergrenska AB is kr 35.66 (as of Jul 14, 2026), built from audited fundamentals. The current price is kr 46.10.
What is the quality score of CEDER?
Cedergrenska AB has a Quality Score of 70/100. 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 Cedergrenska AB (CEDER)?
Cedergrenska AB reported trailing-twelve-month revenue of about 1.5B SEK (latest available figure, as of Jul 14, 2026).
What is the net profit margin of CEDER?
The net profit margin of Cedergrenska AB is about 2.2%, meaning it keeps roughly 2.2% of revenue as net income. Based on the latest reported figures.
Does Cedergrenska AB pay a dividend?
Cedergrenska AB currently shows a dividend yield of about 4.21% relative to its recent price (as of Jul 14, 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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