eWork Group AB (EWRK) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of eWork Group AB SEK 123, price SEK 56.90, upside +117.0%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Ework Group AB (publ) engages in the provision of total talent solutions for IT/OT, research and development, engineering, and business development in Sweden, Norway, Finland, Germany, Denmark, Poland, the Netherlands, and Slovakia.
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Ework Group AB (publ) engages in the provision of total talent solutions for IT/OT, research and development, engineering, and business development in Sweden, Norway, Finland, Germany, Denmark, Poland, the Netherlands, and Slovakia. It offers talent solutions, such as consulting, recruitment, managed service provider, talent advisory, and total talent management; and additional services, including protective security, compliance, nearshoring, and workforce insights. The company was formerly known as eWork Scandinavia AB (publ) and changed its name to Ework Group AB (publ) in May 2016. Ework Group AB (publ) was incorporated in 2000 and is headquartered in Stockholm, Sweden.
Stock analysis
eWork Group AB (EWRK) currently trades at kr 56.90, while our model-based Fair Value estimate is kr 123.47, implying the stock looks roughly 53.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 133.23 per share, and 18 of the 23 models we run sit above the kr 56.90 price.
Bear case: the Economic Profit group reads lowest at kr 32.15, and 5 of the 23 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 90.80 (bear) to kr 214.33 (bull), the price of kr 56.90 sits below 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 58/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
eWork Group AB reported revenue of 13.7B SEK in FY2025 versus 13.2B SEK in FY2021, a compound +1.0%/yr. Reported net income was 76.2M SEK in FY2025, compounding −6.1%/yr from FY2021.
Key figures
Market cap 984M SEK (≈ $99.1M) · P/E ratio 14.8 · P/S ratio 0.08 · EPS (TTM) kr 3.85 · Dividend yield 7.0% · Net margin 0.6% · Return on equity 23.3% · Return on assets (EBIT) 4.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 12% fair-value upside, at 117%, EWRK screens cheaper than that median.
Fair Value models
Bear kr 90.80Fair Value kr 123.47Bull kr 214.33
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.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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−12.8%
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.
−5.1%
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.
+2.3%
Start year 2020 (pandemic). Over 10 years: +8.5% a year
Revenue growth 20 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.
+18.8%
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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.
+7.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.2%
Dividend (yield on the price)7.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.0% vs 2%, steady
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.1% → 1%
Start year 2020 (pandemic)
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).
−2.7%
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 −4.6% 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.Staffing & Employment Services · 85 stocks
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). "eWork Group AB Fair Value". https://www.fairvalue-calculator.com/stock/EWRK
Frequently asked questions
Is eWork Group AB (EWRK) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 123.47 versus a price of kr 56.90, about +117% upside (undervalued).
What is the fair value of EWRK?
Our model-based fair value for eWork Group AB is kr 123.47 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 56.90.
What is the quality score of EWRK?
eWork Group AB has a Quality Score of 58/100. 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 eWork Group AB (EWRK)?
Our model-based price target is the fair value of kr 123.47 (as of Sep 24, 2026) from 23 valuation models. Cautious scenario kr 90.80, optimistic scenario kr 214.33. It is a calculation from audited fundamentals, not an analyst target.
What is the eWork Group AB stock forecast for 2026?
Our models put fair value at kr 123.47, about +117% upside versus a price of kr 56.90 (undervalued). Cautious scenario kr 90.80, optimistic scenario kr 214.33. The calculation is refreshed regularly with new filings.
What is the revenue of eWork Group AB (EWRK)?
eWork Group AB reported trailing-twelve-month revenue of about 13.3B SEK (latest available figure, as of Sep 24, 2026).
Does eWork Group AB pay a dividend?
eWork Group AB currently shows a dividend yield of about 7.03% relative to its recent price (as of Sep 24, 2026).
What growth is priced into eWork Group AB (EWRK)?
For today's price to be fair in a discounted-cash-flow model, eWork Group AB would have to grow free cash flow by -2.7 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of EWRK use?
Our models discount eWork Group AB at 11.0 %: a base by market capitalisation (micro), damped by beta 0.25, 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 eWork Group AB that is -2.7 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has eWork Group AB (EWRK) delivered so far?
Over the past 5 years revenue at eWork Group AB grew +2.3 % a year. The price currently implies -2.7 % 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 eWork Group AB (EWRK) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into eWork Group AB (-2.7 % 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 eWork Group AB (EWRK)?
The free-cash-flow yield on the price is 12.48 %: that much free cash flow eWork Group AB produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of eWork Group AB (EWRK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For eWork Group AB it is kr 123.47 per share (as of Sep 24, 2026), against a price of kr 56.90. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is eWork Group AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, EWRK trades below its calculated fair value: price kr 56.90, fair value kr 123.47, a gap of about +117% (undervalued). 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 EWRK?
No. The price is what the market pays today (kr 56.90); the fair value is what the company's own numbers justify (kr 123.47). For eWork Group AB the two are kr 66.57 per share apart. That gap is exactly why we show both numbers side by side.
How much is eWork Group AB worth?
The market values eWork Group AB at about 984M SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 56.90; our models calculate a fair value of kr 123.47 per share.
What do the bullish and bearish scenarios say about EWRK?
Our models span a range for eWork Group AB: cautious scenario kr 90.80, base kr 123.47, optimistic kr 214.33 per share (as of Sep 24, 2026, price kr 56.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EWRK?
eWork Group AB trades at a price-to-earnings ratio of 14.8 (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 123.47 is built from several models across several years. Other multiples: P/B 3.9, P/S 0.1, EV/EBITDA 9.1.
How solid is the balance sheet of eWork Group AB (EWRK)?
Balance-sheet figures for eWork Group AB (as of Sep 24, 2026): return on equity 23.3%. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is EWRK from its 52-week high?
eWork Group AB trades at kr 56.90, about 46% below its 52-week high of kr 104.94 and 3% above the low of kr 55.00 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 123.47 is for.
Which stocks are comparable to eWork Group AB?
From the same area (Industrials) we also value Adecco Group, Korn Ferry,, Robert Half Inc, TriNet Group, 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 eWork Group AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 56.90, calculated fair value kr 123.47 (+117%), Quality Score 58/100, from 23 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 EWRK calculated?
We run eWork Group AB through 23 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 123.47, 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 14.0 % above its aggregate fair value. eWork Group AB currently trades 117 % below its own fair value, and the market average says nothing about that. 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 eWork Group AB (EWRK)?
The closing price on Sep 24, 2026 was kr 56.90. Our model-based fair value is kr 123.47, about +117% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with eWork Group AB right now?
The price is below even our cautious bear case (kr 90.80). The market is more pessimistic than our downside scenario. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (kr 90.80 to kr 214.33) leaves room in how you read the outcome.
Where does the earnings growth of eWork Group AB (EWRK) come from?
Earnings per share at eWork Group AB grew +7.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +10.8 %, EBIT margin −1.3 %, tax rate +0.2 %, residual (interest, one-offs) −1.7 %. 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 eWork Group AB
How large is the market capitalisation of eWork Group AB (EWRK)?
The market capitalisation of eWork Group AB is 984M SEK (≈ $99.1M). 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 eWork Group AB (EWRK)?
The price-to-sales ratio of eWork Group AB is 0.08 (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 eWork Group AB (EWRK)?
Earnings per share at eWork Group AB are kr 3.85 (price ÷ EPS = P/E 14.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of eWork Group AB (EWRK)?
The dividend yield of eWork Group AB is 7.0% (payout 104%). 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 eWork Group AB (EWRK)?
The net margin of eWork Group AB is 0.6% (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 eWork Group AB (EWRK)?
The return on equity (ROE) of eWork Group AB is 23.3% (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 eWork Group AB (EWRK)?
On an EBIT basis the return on assets of eWork Group AB is 4.2% (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 eWork Group AB (EWRK)?
The operating margin of eWork Group AB is 0.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at eWork Group AB (EWRK)?
Revenue at eWork Group AB is growing −13.9% versus a year earlier (3y avg −5.1%). 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 eWork Group AB (EWRK)?
Earnings per share at eWork Group AB are growing −57.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does eWork Group AB (EWRK) carry?
The net debt of eWork Group AB is 129M SEK (fiscal year 2025, ≈ 1.1 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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