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Fagerhult Group (FAG) Fair Value & Analysis

Industrials · SE · Market cap 3.1B SEK

FG Fagerhult Group FAG · ST
Pricekr 17.36
Fair Valuekr 35.15
Upside+102.5%
Quality51/100
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Mixed Growth
Thin margins · 2.8% net margin
Moderate debt · generates free cash flow
6.22% dividend yield
Mixed vs. peers (8/15)
Narrow moat 32/100
Evidence: High Range kr 22.95 – kr 47.25 Share as image

Fair value as of: Jul 18, 2026

From 25 valuation models · updated 23 days ago

Share price −3.7% over the past month.

A solid business, screening 102% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (kr 22.95). The market is more pessimistic than our downside scenario.
  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (kr 22.95 to kr 47.25) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 70.02 kr 16.72 Fair Value kr 35.15 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range kr 16.72 – kr 70.02 · fair‑value band kr 22.95 – kr 47.25 · the kr 17.36 price screens below the kr 35.15 fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Fagerhult Group (FAG) currently trades at kr 17.36, while our model-based Fair Value estimate is kr 35.15, implying the stock looks roughly 102.5% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Fagerhult Group generated revenue of 7.8B SEK at a net margin of 2.8%. Revenue declined 6.1% year over year. It earns a return on equity of 3.0%. Net debt stands at 2.8B SEK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 22.95 (bear case) to kr 47.25 (bull case); at kr 17.36, 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 61% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 102%, FAG screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF kr 29.91 kr 50.07 kr 77.57 80
Residual Income kr 30.23 kr 30.49 kr 28.25 76
Rev-Margin DCF kr 17.22 kr 33.70 kr 52.61 74
All 25 models by family
DCF Models
FCF DCF kr 29.20 kr 51.98 kr 84.99 38
5Y Revenue Exit kr 17.22 kr 33.27 kr 53.22 39
5Y EBITDA Exit kr 31.85 kr 60.42 kr 93.38 41
5Y P/E Exit kr 16.64 kr 32.19 kr 48.11 38
10Y Revenue Exit kr 20.52 kr 35.93 kr 55.73 36
10Y EBITDA Exit kr 30.40 kr 54.29 kr 85.48 37
10Y P/E Exit kr 20.95 kr 35.20 kr 51.94 35
Earnings-Based
Graham-Dodd kr 12.24 kr 36.71 kr 48.64 54
Lynch FV kr 7.79 kr 11.12 kr 14.46 50
PEG = 1.0 kr 7.79 kr 11.12 kr 14.46 46
EPV kr 4.12 kr 7.25 kr 9.94 59
Dividend Discount
Gordon GGM kr 12.30 kr 24.50 kr 37.11 70
DDM Multi-Stage kr 12.30 kr 19.66 kr 25.87 61
Multiples
P/E Multiple kr 28.35 kr 37.80 kr 47.25 63
P/S Multiple kr 22.95 kr 30.60 kr 38.25 58
P/B Multiple kr 22.95 kr 30.60 kr 38.25 55
EV/EBIT kr 22.74 kr 35.55 kr 48.35 53
EV/EBITDA kr 39.64 kr 58.08 kr 76.52 54
EV/Revenue kr 11.74 kr 23.49 kr 35.24 43
Asset-Based
NCAV (Graham) kr 20.10 kr 26.94 kr 40.21 50
Growth DCF
Growth DCF kr 29.91 kr 50.07 kr 77.57 80
Rev-Margin DCF kr 17.22 kr 33.70 kr 52.61 74
Economic Profit
Residual Income kr 30.23 kr 30.49 kr 28.25 76
ROIC Compounder kr 4.12 kr 7.25 kr 9.94 72
Growth Earnings
Growth-Adj P/E kr 23.15 kr 33.07 kr 42.99 68

Widest divergence: DCF Models (kr 35.93) versus Economic Profit (kr 7.25). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 7.8B SEK
Revenue growth (YoY) -6.1%
Net margin 2.8%
Return on equity 3.0%
Free cash flow 740M SEK FY2025
P/E ratio 14.9
More key figures
Operating margin 1.3%
EPS (TTM) kr 1.23
Dividend yield 6.0%
EPS growth (YoY) +113%
Net debt 2.8B SEK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 50 · Market factors (momentum, volatility) 24

Profitability 33
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 81
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.

About the company

Fagerhult Group AB, together with its subsidiaries, designs, manufactures, and markets professional lighting solutions worldwide.

Full company description

Fagerhult Group AB, together with its subsidiaries, designs, manufactures, and markets professional lighting solutions worldwide. The company provides indoor and outdoor lighting products for use in offices, schools, healthcare, retail, and urban environments under the ateljé Lyktan, iGuzzini, LED Linear, WE-EF, Fagerhult, LTS, Arlight, Eagle Lighting, Whitecroft, Designplan Lighting, i-Valo, and Veko brand names. The company was formerly known as AB Fagerhult (publ.) and changed its name to Fagerhult Group AB in 2023. Fagerhult Group AB was founded in 1934 and is headquartered in Habo, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fagerhult Group reported revenue of kr 7.9B in FY2025 versus kr 7.1B in FY2021, a compound +2.7%/yr. Reported net income was kr 317M in FY2025, compounding −9.1%/yr from FY2021.

Growth Quality 58/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
7.9B SEK
Latest YoY
−5.0%
Avg. 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.
−1.5%
Avg. 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.
+3.0%
Avg. growth/yr (25Y) 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.
+7.7%
Revenue +2.7%/yr
FY21 kr 7.1B
FY22 kr 8.3B
FY23 kr 8.6B
FY24 kr 8.3B
FY25 kr 7.9B
Net income −9.1%/yr
FY21 kr 466M
FY22 kr 576M
FY23 kr 544M
FY24 kr 354M
FY25 kr 317M
Character of growth · EPS growth decomposed (2014-2025) −0.4 % p.a.
Revenue per share +4.7 pp

of which total revenue +8.2 pp · buybacks/dilution −3.6 pp

EBIT margin −2.5 pp
Tax rate −0.9 pp
Residual (interest, one-offs) −1.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Fagerhult Group Fair Value". https://www.fairvalue-calculator.com/stock/FAG

Peer Group

Electrical Equipment & Parts · 526 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 51 · Below median
Fair Value upside +103% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth -6% · Bottom 25%
Dividend yield (TTM) 6.2% · Top 25%
Debt / equity 0.57× · Higher than 75% of peers

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 14.4× · Cheaper than 75% of peers
P/B 0.44× · Cheaper than 75% of peers
P/S (TTM) 0.40× · Cheaper than 75% of peers
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 7.6× · Cheaper than 75% of peers
PEG 0.71× · Cheaper than median

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.

VALUE 100 · sector 0
FUTURE 0 · sector 57
PAST 12 · sector 26
HEALTH 71 · sector 97
DIVIDEND 100 · sector 18

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
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LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
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Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
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HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
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Frequently asked questions

Is Fagerhult Group (FAG) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 35.15 versus a price of kr 17.36, about +102% (undervalued).
What is the fair value of FAG?
Our model-based fair value for Fagerhult Group is kr 35.15 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 17.36.
What is the quality score of FAG?
Fagerhult Group has a Quality Score of 51/100. 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 Fagerhult Group (FAG)?
Fagerhult Group reported trailing-twelve-month revenue of about 7.8B SEK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of FAG?
The net profit margin of Fagerhult Group is about 2.8%, meaning it keeps roughly 2.8% of revenue as net income. Based on the latest reported figures.
Does Fagerhult Group pay a dividend?
Fagerhult Group currently shows a dividend yield of about 5.97% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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