Ependion AB (EPEN) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Ependion AB SEK 83.48, price SEK 158, upside -47.0%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Ependion AB, together with its subsidiaries, provides digital solutions for secure control, management, visualization, and data communication for industrial applications. It operates through Beijer Electronics and Westermo segments.
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Ependion AB, together with its subsidiaries, provides digital solutions for secure control, management, visualization, and data communication for industrial applications. It operates through Beijer Electronics and Westermo segments. The Beijer Electronics segment develops and sells hard and software solutions for digitalized data control, connect, and present across a raft of sectors. The Westermo segment develops and manufactures robust network products for reliable data communication for train and trackside markets. It also offers digital solutions for control and surveillance systems; and industrial data communication solutions for data to be transferred on fixed and wireless networks. The company serves infrastructure, transportation, water supply, energy, manufacturing, and the marine sector. It operates in Sweden, Australia, Austria, Belgium, China, Denmark, Finland, France, Germany, Ireland, Korea, Netherlands, Norway, Singapore, Spain, Switzerland, Taiwan, the United Kingdom, the United States, and internationally. Ependion AB was formerly known as Beijer Electronics Group AB (publ) and changed its name to Ependion AB in May 2023. The company was incorporated in 1926 and is headquartered in Malmö, Sweden.
Stock analysis
Ependion AB (EPEN) currently trades at kr 157.60, while our model-based Fair Value estimate is kr 83.48, implying the stock looks roughly 88.8% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 114.76 per share, and 3 of the 24 models we run sit above the kr 157.60 price.
Bear case: the Asset-Based group reads lowest at kr 34.00, and 21 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 51.79 (bear) to kr 123.45 (bull), the price of kr 157.60 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 46/100 (below-average quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ependion AB reported revenue of 2.2B SEK in FY2025 versus 1.6B SEK in FY2021, a compound +8.4%/yr. Reported net income was 147M SEK in FY2025, compounding +42.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 5.1B SEK (≈ $516M) · P/E ratio 29.9 · P/S ratio 1.97 · EPS (TTM) kr 5.27 · Dividend yield 1.0% · Net margin 6.6% · Return on equity 10.3% · Return on assets (EBIT) 8.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 75% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −46% fair-value upside, at −47%, EPEN screens richer than that median.
Fair Value models
Bear kr 51.79Fair Value kr 83.48Bull kr 123.45
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 2.76 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.Evidence ⓘEvidence = 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.73/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.2%
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.
+1.6%
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.
+9.2%
Start year 2020 (pandemic)
Revenue growth 9 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.
+7.9%
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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.
+22.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+21.1%
Dividend (yield on the price)1.0%
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.2% → 11%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+22.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +19.8% a year for the price and +8.6% for the forecasts.
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.Communication Equipment · 311 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside−47% · Below median
Profitability
Return on equity (TTM)10% · Above median
Return on assets5% · Top 25%
Net margin (TTM)7% · Above median
Operating margin (TTM)11% · Top 25%
Growth and dividend
Revenue growth22% · Above median
Dividend yield (TTM)1.0% · Below median
Balance sheet
Debt / equity0.26× · Highest 25%
Valuation Multiplesvs Communication Equipment median · lower = cheaper
P/E (TTM)29.9× · Cheaper than median
P/B3.14× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM)2.12× · Pricier than median
P/FCF2.7× · Cheaper than median
EV/EBITDA16.1× · Cheaper than median
PEG1.20× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 38
PAST (return on equity)41· sector 15
HEALTH (low debt)87· sector 98
DIVIDEND (yield)19· sector 23
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). "Ependion AB Fair Value". https://www.fairvalue-calculator.com/stock/EPEN
Frequently asked questions
Is Ependion AB (EPEN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 83.48 versus a price of kr 157.60, about −47% upside (overvalued).
What is the fair value of EPEN?
Our model-based fair value for Ependion AB is kr 83.48 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 157.60.
What is the quality score of EPEN?
Ependion AB has a Quality Score of 46/100. 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 Ependion AB (EPEN)?
Our model-based price target is the fair value of kr 83.48 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario kr 51.79, optimistic scenario kr 123.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Ependion AB stock forecast for 2026?
Our models put fair value at kr 83.48, about −47% upside versus a price of kr 157.60 (overvalued). Cautious scenario kr 51.79, optimistic scenario kr 123.45. The calculation is refreshed regularly with new filings.
What is the revenue of Ependion AB (EPEN)?
Ependion AB reported trailing-twelve-month revenue of about 2.4B SEK (latest available figure, as of Sep 24, 2026).
Does Ependion AB pay a dividend?
Ependion AB currently shows a dividend yield of about 0.95% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Ependion AB (EPEN)?
For today's price to be fair in a discounted-cash-flow model, Ependion AB would have to grow free cash flow by +22.2 % per year for five years (discount rate 12.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of EPEN use?
Our models discount Ependion AB at 12.1 %: a base by market capitalisation (small), damped by beta 1.40, 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 Ependion AB that is +22.2 % per year a year over ten years, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has Ependion AB (EPEN) delivered so far?
Over the past 5 years revenue at Ependion AB grew +9.2 % a year. The price currently implies +22.2 % 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 Ependion AB (EPEN) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Ependion AB (+22.2 % 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 Ependion AB (EPEN)?
The free-cash-flow yield on the price is 3.81 %: that much free cash flow Ependion AB produces per unit of market value. When it exceeds the discount rate of our models (12.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ependion AB (EPEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ependion AB it is kr 83.48 per share (as of Sep 24, 2026), against a price of kr 157.60. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Ependion AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, EPEN trades above its calculated fair value: price kr 157.60, fair value kr 83.48, a gap of about −47% (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 EPEN?
No. The price is what the market pays today (kr 157.60); the fair value is what the company's own numbers justify (kr 83.48). For Ependion AB the two are kr 74.12 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ependion AB worth?
The market values Ependion AB at about 5.1B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 157.60; our models calculate a fair value of kr 83.48 per share.
What do the bullish and bearish scenarios say about EPEN?
Our models span a range for Ependion AB: cautious scenario kr 51.79, base kr 83.48, optimistic kr 123.45 per share (as of Sep 24, 2026, price kr 157.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EPEN?
Ependion AB trades at a price-to-earnings ratio of 29.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 83.48 is built from several models across several years. Other multiples: PEG 1.2, P/B 3.1, P/S 2.1, EV/EBITDA 16.1.
What is the PEG ratio of EPEN?
The PEG ratio of Ependion AB is 1.20 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Ependion AB (EPEN)?
Balance-sheet figures for Ependion AB (as of Sep 24, 2026): return on equity 10.3%, debt of 0.26 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is EPEN from its 52-week high?
Ependion AB trades at kr 157.60, about 2% below its 52-week high of kr 160.80 and 75% above the low of kr 90.02 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 83.48 is for.
Which stocks are comparable to Ependion AB?
From the same area (Technology) we also value Cisco Systems, Inc, Zhongji Innolight Co, Foxconn Industrial Internet Co, Eoptolink Technology Inc, 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 Ependion AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 157.60, calculated fair value kr 83.48 (−47%), Quality Score 46/100, 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 EPEN calculated?
We run Ependion AB 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 83.48, 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 14.1 % above its aggregate fair value. Ependion AB 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 Ependion AB (EPEN)?
The closing price on Sep 23, 2026 was kr 157.60. Our model-based fair value is kr 83.48, about −47% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ependion AB right now?
The price sits above even our optimistic bull case (kr 123.45). The favourable scenario is already priced in. Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 51.79 to kr 123.45) leaves room in how you read the outcome.
Key figures of Ependion AB
How large is the market capitalisation of Ependion AB (EPEN)?
The market capitalisation of Ependion AB is 5.1B SEK (≈ $516M). 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 Ependion AB (EPEN)?
The price-to-sales ratio of Ependion AB is 1.97 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ependion AB (EPEN)?
Earnings per share at Ependion AB are kr 5.27 (price ÷ EPS = P/E 29.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ependion AB (EPEN)?
The dividend yield of Ependion AB is 1.0% (payout 28.5%). 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 Ependion AB (EPEN)?
The net margin of Ependion AB is 6.6% (fiscal year 2025). 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 Ependion AB (EPEN)?
The return on equity (ROE) of Ependion AB is 10.3% (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 Ependion AB (EPEN)?
On an EBIT basis the return on assets of Ependion AB is 8.0% (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 Ependion AB (EPEN)?
The operating margin of Ependion AB is 11.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ependion AB (EPEN)?
Revenue at Ependion AB is growing +21.6% versus a year earlier (3y avg +1.6%). 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 Ependion AB (EPEN)?
Earnings per share at Ependion AB are growing +42.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Ependion AB (EPEN) carry?
The net debt of Ependion AB is 538M SEK (fiscal year 2025, ≈ 2.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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