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ES Energy Save Holding (ESGR-B) Fair Value & Analysis

Industrials · SE · Market cap 123M SEK (≈ $12.9M) · ISIN SE0014428447

What is ES Energy Save Holding really worth?

EE ES Energy Save Holding ESGR-B · ST
Pricekr 14.60
Fair Valuekr 12.60
Upside−13.7%
Quality35/100

Below-average quality, and trading another 16% above our fair value of kr 12.60.

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Risks

!Weak Growth (revenue 5y +27.6 %/yr)
!Loss-making · -12.0% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (4/10)
!Narrow moat 10/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 15 out of 100
Evidence: Low Range kr 8.32 – kr 15.75

Fair value as of: Aug 13, 2026

From 1 valuation models · updated 22 days ago

Share price −2.7% over the past month.

What runs behind every stock

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

What matters now

  • A fairly wide model range (kr 8.32 to kr 15.75) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

kr 57.30 kr 10.40 Fair Value kr 12.60 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 10.40 – kr 57.30 · fair‑value band kr 8.32 – kr 15.75 · the kr 14.60 price screens above the kr 12.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

ES Energy Save Holding (ESGR-B) currently trades at kr 14.60, while our model-based Fair Value estimate is kr 12.60, implying the stock looks roughly 15.9% overvalued today. The Quality Score stands at 35/100 (below-average quality), in the Industrials sector. How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the evidence level at low.

Over the trailing twelve months, ES Energy Save Holding generated revenue of 194M SEK at a net margin of −12.0%. Revenue declined 6.4% year over year. It earns a return on equity of −14.1%. Net debt stands at 2.0M SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 8.32 (bear case) to kr 15.75 (bull case); at kr 14.60, 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 53% below its 52-week high and 40% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −29% fair-value upside, at −14%, ESGR-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
NCAV (Graham) best evidence kr 15.01 kr 20.11 kr 30.02 54
All 1 models by family
Asset-Based
NCAV (Graham) best evidence kr 15.01 kr 20.11 kr 30.02 54

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Key figures & financial health

P/S ratio 0.63 TTM
EPS (TTM) kr −3.60
Net margin −12.3% FY2026
Return on equity −14.1% TTM
Return on assets (EBIT) −3.5% avg 5y
Operating margin −9.5% TTM
More key figures
Growth
Revenue (TTM) 194M SEK TTM
Revenue growth (YoY) −7.8% 3y avg +20.0%
Balance sheet & cash flow
Free cash flow −29.1M SEK FY2026
Net debt 2.0M SEK FY2026

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

Quality Score breakdown

Overall quality 35/100

Of which business quality 39 · Market factors (momentum, volatility) 34

Profitability 23
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 23
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 59
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

ES Energy Save Holding AB (publ) develops heat pumps for commercial buildings. The company offers plug-in modules, ventilation systems, hybrid energy systems, and calculation and design tools for commercial properties; heat pumps, multifunction tanks, control systems, and accessories for residential properties; and R290 propane heat pumps.

Full company description

ES Energy Save Holding AB (publ) develops heat pumps for commercial buildings. The company offers plug-in modules, ventilation systems, hybrid energy systems, and calculation and design tools for commercial properties; heat pumps, multifunction tanks, control systems, and accessories for residential properties; and R290 propane heat pumps. It also provides service, repair, installation, and aftermarket services. The company was founded in 2009 and is headquartered in Alingsås, Sweden.

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

Revenue & earnings trend

FY2021 – FY2026 · reported fiscal years

ES Energy Save Holding reported revenue of 186M SEK in FY2026 versus 55.1M SEK in FY2021, a compound +27.6%/yr. Reported net income was −22.8M SEK in FY2026.

Growth Quality 36/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
186M SEK
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.
−14.5%
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.
+27.6%
Avg. revenue growth/yr (6Y) 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.
+29.6%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Revenue +27.6%/yr
FY21 55.1M SEK
FY22 108M SEK
FY23 298M SEK
FY24 171M SEK
FY26 186M SEK
Net income
FY21 −7.2M SEK
FY22 1.5M SEK
FY23 32.9M SEK
FY24 −25.4M SEK
FY26 −22.8M SEK

ESGR-B screens 16% overvalued. Compare with Trane Technologies plc →

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Cite: Fair Value Calculator (2026). "ES Energy Save Holding Fair Value". https://www.fairvalue-calculator.com/stock/ESGR-B

Peer Group

Building Products & Equipment · 242 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 39 · Bottom 25%
Fair Value upside −14% · Above median
Return on assets −5% · Bottom 25%
Net margin (TTM) −12% · Bottom 25%
Operating margin (TTM) −9% · Bottom 25%
Revenue growth −8% · Below median
Debt / equity 0.02× · Lower than 75% of peers

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/B 0.08× · Cheaper than 75% of peers
P/S (TTM) 0.07× · Cheaper than 75% of peers

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
VALUE15 · sector 2
FUTURE0 · sector 11
PAST0 · sector 25
HEALTH99 · sector 95
DIVIDEND0 · sector 41

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 Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $454.31 $208.50 −54%
Johnson Controls International plc JCI $142.23 $44.75 −69%
Carrier Global Corporation CARR $57.25 $16.85 −71%
Compagnie de Saint-Gobain S.A SGO €81.20 €97.97 +21%
Geberit AG GEBN CHF 577.80 CHF 307.66 −47%
Lennox International Inc LII $377.25 $363.09 −4%
Kingspan Group KRX €87.30 €66.79 −23%
Masco Corporation MAS $74.64 $53.22 −29%
Carlisle Companies Incorporated CSL $356.53 $340.70 −4%
BELIMO Holding BEAN CHF 878.50 CHF 227.18 −74%

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Frequently asked questions

Is ES Energy Save Holding (ESGR-B) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 12.60 versus a price of kr 14.60, about −14% upside (overvalued).
What is the fair value of ESGR-B?
Our model-based fair value for ES Energy Save Holding is kr 12.60 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 14.60.
What is the quality score of ESGR-B?
ES Energy Save Holding has a Quality Score of 35/100. 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 ES Energy Save Holding (ESGR-B)?
ES Energy Save Holding reported trailing-twelve-month revenue of about 194M SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ESGR-B?
The net profit margin of ES Energy Save Holding is about −12.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
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