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Elanders AB (ELAN-B) Fair Value & Analysis

Industrials · SE · Market cap 1.8B SEK (≈ $186M) · ISIN SE0000119299

What is Elanders AB really worth?

EA Elanders AB ELAN-B · ST
Pricekr 50.50
Fair Valuekr 80.91
Upside+60.2%
Quality49/100

Below-average quality, trading 38% below our fair value of kr 80.91.

As of Aug 13, 2026, the fair value of Elanders AB is kr 80.91 per share against a price of kr 50.50, so the fair value sits 60% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Weak Growth (revenue 5y +2.0 %/yr)
!Thin margins · 0.5% net margin
!High debt · generates free cash flow
!Mixed vs. peers (6/15)
!Narrow moat 29/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 7 out of 100

For context

·4.16% dividend yield
Evidence: Medium Range kr 80.91 – kr 160.23

Fair value as of: Aug 13, 2026

From 12 valuation models · updated 22 days ago

Share price −6.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (kr 80.91). The market is more pessimistic than our downside scenario.
  • Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (kr 80.91 to kr 160.23) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

kr 155.81 kr 41.23 Fair Value kr 80.91 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range kr 41.23 – kr 155.81 · fair‑value band kr 80.91 – kr 160.23 · the kr 50.50 price screens below the kr 80.91 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Elanders AB (ELAN-B) currently trades at kr 50.50, while our model-based Fair Value estimate is kr 80.91, implying the stock looks roughly 37.6% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of kr 275.27 per share, and 11 of the 12 models we run sit above the kr 50.50 price. Bear case: the Asset-Based group reads lowest at kr 69.57, and 1 of the 12 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Elanders AB generated revenue of 11.7B SEK at a net margin of 0.5%. Revenue declined 14.4% year over year. It earns a return on equity of 1.6%. Net debt stands at 7.9B SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 80.91 (bear case) to kr 160.23 (bull case); at kr 50.50, the current price sits below 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 26% below its 52-week high and 24% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −5% fair-value upside, at 60%, ELAN-B screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF kr 105.33 kr 275.27 kr 517.82 75
Growth DCF kr 104.01 kr 260.08 kr 472.65 74
Owner Earnings kr 141.23 kr 330.88 kr 601.58 72
All 12 models by family
DCF Models
FCF DCF kr 105.33 kr 275.27 kr 517.82 75
Owner Earnings kr 141.23 kr 330.88 kr 601.58 72
5Y Revenue Exit kr 15.51 kr 129.55 kr 274.71 65
5Y EBITDA Exit kr 230.99 kr 551.95 kr 940.79 72
10Y Revenue Exit kr 43.33 kr 153.75 kr 304.24 61
10Y EBITDA Exit kr 175.93 kr 428.67 kr 789.50 64
Multiples
EV/EBIT kr 33.82 kr 113.14 kr 192.45 60
EV/EBITDA kr 369.08 kr 560.15 kr 751.22 66
EV/Revenue kr 38.49 kr 111.27 50
Asset-Based
NCAV (Graham) kr 51.92 kr 69.57 kr 103.84 54
Growth DCF
Growth DCF kr 104.01 kr 260.08 kr 472.65 74
Rev-Margin DCF kr 15.51 kr 131.52 kr 274.03 65

Widest divergence: DCF Models (kr 275.27) versus Asset-Based (kr 69.57). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/E ratio 30.5 as of Jun 8, 2026
P/S ratio 0.14 TTM
EPS (TTM) kr 1.56 price ÷ EPS = P/E 30.5
Dividend yield 4.2% payout 135%
Net margin −0.4% FY2025
Return on equity 1.6% TTM
More key figures
Profitability
Return on assets (EBIT) 4.8% avg 5y
Operating margin 5.4% TTM
Growth
Revenue (TTM) 11.7B SEK TTM
Revenue growth (YoY) −14.4% 3y avg −6.6%
EPS growth (YoY) +186%
Balance sheet & cash flow
Free cash flow 1.0B SEK FY2025
Net debt 7.9B SEK FY2025 · ≈ 7.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 46 · Market factors (momentum, volatility) 46

Profitability 24
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 12
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 29
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Elanders AB (publ), a logistics company, provides supply chain, and print and packaging solutions in Sweden, Germany, the United States, Singapore, the United Kingdom, the Netherlands, India, China, Switzerland, Poland, Hungary, and internationally.

Full company description

Elanders AB (publ), a logistics company, provides supply chain, and print and packaging solutions in Sweden, Germany, the United States, Singapore, the United Kingdom, the Netherlands, India, China, Switzerland, Poland, Hungary, and internationally. It provides purchasing, storage, configuration, production, and distribution, as well as order management solutions, payment flows, and aftermarket services. The company also offers packaging services. In addition, the company offers refurbished IT-related products under its brand ReuseIT and photo products under the fotokasten and myphotobook brands. It serves automotive, electronics, fashion, health care, industrial, and other sectors. The company was incorporated in 1908 and is headquartered in Mölndal, Sweden. Elanders AB (publ) operates as a subsidiary of Carl Bennet AB.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Elanders AB reported revenue of 12.2B SEK in FY2025 versus 11.7B SEK in FY2021, a compound +1.0%/yr. Reported net income was −54.0M SEK in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
12.2B SEK
Latest YoY
−13.7%
Avg. revenue 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.
−6.6%
Avg. revenue 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.
+2.0%
Avg. revenue growth/yr (23Y) 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.
+8.0%
EBIT margin (trend) 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.
4.9% (2020) → 5.1% (2025)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +1.0%/yr
FY21 11.7B SEK
FY22 15.0B SEK
FY23 13.9B SEK
FY24 14.1B SEK
FY25 12.2B SEK
Net income
FY21 322M SEK
FY22 470M SEK
FY23 248M SEK
FY24 176M SEK
FY25 −54.0M SEK
Character of growth · EPS growth decomposed (2014-2025) +0.7 % p.a.
Revenue per share +10.7 %

of which total revenue +13.6 % · buybacks/dilution −2.6 %

EBIT margin −0.6 %
Tax rate −0.7 %
Residual (interest, one-offs) −7.7 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Elanders AB Fair Value". https://www.fairvalue-calculator.com/stock/ELAN-B

Peer Group

Integrated Freight & Logistics · 206 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 49 · Below median
Fair Value upside +60% · Top 25%
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth −14% · Bottom 25%
Dividend yield (TTM) 4.2% · Above median
Debt / equity 2.24× · Higher than 75% of peers

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/E (TTM) 30.5× · Pricier than 75% of peers
P/B 0.51× · Cheaper than 75% of peers
P/S (TTM) 0.15× · Cheaper than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 10.6× · Pricier than median
PEG 1.89× · Pricier than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 43
FUTURE0 · sector 8
PAST7 · sector 26
HEALTH0 · sector 94
DIVIDEND83 · sector 55

Insider activity: 48/100

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

Similar stocks

10 more Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $105.33 $103.34 −2%
FedEx Corporation FDX $330.88 $347.68 +5%
Deutsche Post AG DHL €56.14 €53.18 −5%
DSV A/S DSV kr 1,358 kr 712.57 −48%
Kuehne + Nagel International AG KNIN CHF 219.90 CHF 147.92 −33%
J.B. Hunt Transport Services, Inc JBHT $256.48 $133.80 −48%
S.F. Holding 002352 ¥32.96 ¥48.64 +48%
C.H. Robinson Worldwide, Inc CHRW $150.39 $86.56 −42%
Expeditors International of Washington, Inc EXPD $190.97 $115.95 −39%
ZTO Express (Cayman) Inc ZTO $21.50 $28.62 +33%

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Frequently asked questions

Is Elanders AB (ELAN-B) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 80.91 versus a price of kr 50.50, about +60% upside (undervalued).
What is the fair value of ELAN-B?
Our model-based fair value for Elanders AB is kr 80.91 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 50.50.
What is the quality score of ELAN-B?
Elanders AB has a Quality Score of 49/100. 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 Elanders AB (ELAN-B)?
Elanders AB reported trailing-twelve-month revenue of about 11.7B SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ELAN-B?
The net profit margin of Elanders AB is about 0.5%, meaning it keeps roughly 0.5% of revenue as net income. Based on the latest reported figures.
Does Elanders AB pay a dividend?
Elanders AB currently shows a dividend yield of about 4.16% relative to its recent price (as of Aug 13, 2026).
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