Concejo AB (publ) (CNCJO-B) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of Concejo AB (publ) stock SEK 29.46, price SEK 46.70, upside -36.9%, quality 63 out of 100. Rating: strongly 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 2, 2026.
How to read this chart
60‑month range kr 20.81 – kr 61.18 · fair‑value band kr 24.55 – kr 37.66 · the kr 46.70 price screens above the kr 29.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Concejo AB (publ) engages in the design and delivery of safety systems for active firefighting. It operates through Concejo Industries and SBF Fonder segments.
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The company offers preventive, detection, alarm, firefighting, and support system solutions; testing and system maintenance; spare parts; and consulting services, such as technical calculation, design, risk analysis, and training services.
It also provides optical gas detectors; fluorine-free and biodegradable firefighting foam; and ship logs, marine tachographs, and positioning systems. In addition, the company operates as a manager of alternative investment ¬funds that offers investors co-ownership in Swedish residential properties.
It serves the oil and gas, marine, mining, energy and power, aerospace, and petrochemical plant industries.
The company operates in Sweden, Norway, Turkey, the Netherlands, Spain, Greece, Italy, France, Germany, Great Britain, rest of Europe, Canada, the United States, Mexico, South Korea, Singapore, Japan, India, China, Kazakhstan, the United Arab Emirates, rest of Asia, Nigeria, Morocco, rest of Africa, Australia, Brazil, and rest of South America.
The company was formerly known as Consilium AB (publ) and changed its name to Concejo AB (publ) in December 2020. The company was incorporated in 1993 and is headquartered in Nacka, Sweden. Concejo AB (publ) operates as a subsidiary of Platanen Holding Ab.
Stock analysis
Concejo AB (publ) (CNCJO-B) currently trades at kr 46.70, while our model-based Fair Value estimate is kr 29.46, 36.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 74.21 per share, and 8 of the 22 models we run sit above the kr 46.70 price.
Bear case: the Earnings-Based group reads lowest at kr 6.67, and 14 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: kr 24.55 (bear) to kr 37.66 (bull), the price of kr 46.70 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 63/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Concejo AB (publ) reported revenue of 522M SEK in FY2025 versus 261M SEK in FY2021, a compound +18.9%/yr. Reported net income was 50.4M SEK in FY2025.
Key figures
Market cap 541M SEK (≈ $54.5M) Micro · P/E ratio 3.6 · P/S ratio 1.18 · EPS (TTM) kr 13.25 · Dividend yield 2.1% · Net margin 33.7% · Return on equity 19.3% · Return on assets (EBIT) −0.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −17% fair-value upside, at −37%, CNCJO-B screens richer than that median.
Fair Value models
Bearkr 24.55Fair Value kr 29.46Bullkr 37.66
Price kr 46.70 · Upside -36.9%
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 9.83 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.80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−9.4%
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.
+12.0%
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.
+15.3%
Start year 2020 (pandemic). Over 10 years: −10.4% a year
Revenue growth 17 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.
−3.4%
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What shareholders gained per year (last 3 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 3 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.
+51.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+49.4%
Dividend (yield on the price)2.1%
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.−44% → 1%
⚠ Revenue per share shrinking 7.7%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less 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).
+11.0%
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 +8.8% 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.Building Products & Equipment · 260 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−36.9% · Below median
Profitability
Return on equity (12 months)19.3% · Top 25%
Return on assets6.3% · Above median
Net margin (12 months)33.7% · Top 25%
Operating margin (12 months)−3.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−31.6% · Bottom 25%
Dividend yield (12 months)2.1% · Above median
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Building Products & Equipment median · lower = cheaper
P/E (12 months)3.6× · Cheapest 25%
P/B0.88× · Cheaper than median
P/S (12 months)1.18× · Pricier than median
Price / free cash flow22.7× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 9
FUTURE (revenue growth)0· sector 18
PAST (return on equity)77· sector 23
HEALTH (low debt)99· sector 95
DIVIDEND (yield)43· sector 43
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). "Concejo AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/CNCJO-B
Frequently asked questions
Is Concejo AB (publ) (CNCJO-B) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of kr 29.46 versus a price of kr 46.70, about −37% upside (overvalued).
What is the fair value of CNCJO-B?
Our model-based fair value for Concejo AB (publ) is kr 29.46 (as of Oct 2, 2026), built from audited fundamentals. The current price: kr 46.70.
What is the quality score of CNCJO-B?
Concejo AB (publ) has a Quality Score of 63/100. 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 Concejo AB (publ) (CNCJO-B)?
Our model-based price target is the fair value of kr 29.46 (as of Oct 2, 2026) from 22 valuation models. Cautious scenario kr 24.55, optimistic scenario kr 37.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Concejo AB (publ) stock forecast for 2026?
Our models put fair value at kr 29.46, about −37% upside versus a price of kr 46.70 (overvalued). Cautious scenario kr 24.55, optimistic scenario kr 37.66. The calculation is refreshed regularly with new filings.
What is the revenue of Concejo AB (publ) (CNCJO-B)?
Concejo AB (publ) reported trailing-twelve-month revenue of about 460M SEK (latest available figure, as of Oct 2, 2026).
Does Concejo AB (publ) pay a dividend?
Concejo AB (publ) currently shows a dividend yield of 2.14% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Concejo AB (publ) (CNCJO-B)?
For today's price to be fair in a discounted-cash-flow model, Concejo AB (publ) would have to grow free cash flow by +11.0 % per year for five years (discount rate 11.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.3 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of CNCJO-B use?
Our models discount Concejo AB (publ) at 11.5 %: a base by market capitalisation (micro), damped by beta 0.68, 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 Concejo AB (publ) that is +11.0 % per year a year over ten years, using the same discount rate (11.5 %) and the same formula as our fair value.
How much growth has Concejo AB (publ) (CNCJO-B) delivered so far?
Over the past 5 years revenue at Concejo AB (publ) grew +15.3 % a year. The price currently implies +11.0 % 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 Concejo AB (publ) (CNCJO-B) growing?
The median revenue growth in the sector is +7.5 % a year. That is the yardstick for the growth priced into Concejo AB (publ) (+11.0 % 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 Concejo AB (publ) (CNCJO-B)?
The free-cash-flow yield on the price is 4.40 %: that much free cash flow Concejo AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (11.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Concejo AB (publ) (CNCJO-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Concejo AB (publ) it is kr 29.46 per share (as of Oct 2, 2026), against a price of kr 46.70. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Concejo AB (publ) stock overvalued or undervalued in 2026?
As of Oct 2, 2026, CNCJO-B trades above its calculated fair value: price kr 46.70, fair value kr 29.46, a gap of about −37% (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 CNCJO-B?
No. The price is what the market pays today (kr 46.70); the fair value is what the company's own numbers justify (kr 29.46). For Concejo AB (publ) the two are kr 17.24 per share apart. That gap is exactly why we show both numbers side by side.
How much is Concejo AB (publ) worth?
The market values Concejo AB (publ) at about 541M SEK (market capitalisation, as of Oct 2, 2026). Per share that is kr 46.70; our models calculate a fair value of kr 29.46 per share.
What do the bullish and bearish scenarios say about CNCJO-B?
Our models span a range for Concejo AB (publ): cautious scenario kr 24.55, base kr 29.46, optimistic kr 37.66 per share (as of Oct 2, 2026, price kr 46.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CNCJO-B?
Concejo AB (publ) trades at a price-to-earnings ratio of 3.6 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 29.46 is built from several models across several years. Other multiples: P/B 0.9, P/S 1.2.
How solid is the balance sheet of Concejo AB (publ) (CNCJO-B)?
Balance-sheet figures for Concejo AB (publ) (as of Oct 2, 2026): return on equity 19.3%, debt of 0.02 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is CNCJO-B from its 52-week high?
Concejo AB (publ) trades at kr 46.70, about 7% below its 52-week high of kr 50.40 and 19% above the low of kr 39.28 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of kr 29.46 is for.
Which stocks are comparable to Concejo AB (publ)?
From the same area (Industrials) we also value Trane Technologies plc, Johnson Controls International plc, Carrier Global Corporation, Compagnie de Saint-Gobain S.A, 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 Concejo AB (publ) stock attractive at the current price?
The data as of Oct 2, 2026: price kr 46.70, calculated fair value kr 29.46 (−37%), Quality Score 63/100, from 22 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 CNCJO-B calculated?
We run Concejo AB (publ) through 22 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 29.46, 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. Concejo 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 Concejo AB (publ) (CNCJO-B)?
The closing price on Oct 19, 2026 was kr 46.70. Our model-based fair value is kr 29.46, about −37% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Concejo AB (publ) right now?
The price sits above even our optimistic bull case (kr 37.66). The favourable scenario is already priced in. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Concejo AB (publ) (CNCJO-B) come from?
Earnings per share at Concejo AB (publ) grew −5.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share −10.5 %, EBIT margin −10.8 %, tax rate +2.8 %, residual (interest, one-offs) +15.0 %. 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 Concejo AB (publ)
How large is the market capitalisation of Concejo AB (publ) (CNCJO-B)?
The market capitalisation of Concejo AB (publ) is 541M SEK (≈ $54.5M). 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 Concejo AB (publ) (CNCJO-B)?
The price-to-sales ratio of Concejo AB (publ) is 1.18 (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 Concejo AB (publ) (CNCJO-B)?
Earnings per share at Concejo AB (publ) are kr 13.25 (price ÷ EPS = P/E 3.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Concejo AB (publ) (CNCJO-B)?
The dividend yield of Concejo AB (publ) is 2.1% (payout 7.5%). 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 Concejo AB (publ) (CNCJO-B)?
The net margin of Concejo AB (publ) is 33.7% (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 Concejo AB (publ) (CNCJO-B)?
The return on equity (ROE) of Concejo AB (publ) is 19.3% (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 Concejo AB (publ) (CNCJO-B)?
On an EBIT basis the return on assets of Concejo AB (publ) is −0.3% (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 Concejo AB (publ) (CNCJO-B)?
The operating margin of Concejo AB (publ) is −3.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Concejo AB (publ) (CNCJO-B)?
Revenue at Concejo AB (publ) is growing −31.6% versus a year earlier (3y avg +12.0%). 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 Concejo AB (publ) (CNCJO-B)?
Earnings per share at Concejo AB (publ) are growing −51.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Concejo AB (publ) (CNCJO-B) hold?
Concejo AB (publ) holds more cash than debt, 41.9M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Oct 2, 2026