Flügger group A/S (FLUG-B) fair value: what the stock is really worth
As of Oct 20, 2026: fair value (intrinsic value) of Flügger group A/S stock DKK 359, price DKK 375, upside -4.3%, quality 67 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range kr 254.40 – kr 692.92 · fair‑value band kr 269.02 – kr 448.37 · the kr 375.00 price screens above the kr 358.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Flügger group A/S designs, manufactures, and markets decorative paints, wood protection products, spackling pastes, and wallpaper and tools.
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It offers water-based interior and exterior paints and primers, fillers, wood stain and wallpaper adhesive, wall coverings, paintbrushes, bristles, brushes, rollers, and cleaning products, as well as plastic handles for brushes, rollers, and filling knives.
Flügger group A/S markets and sells its products under the Flügger, Yunik, Unicell Nordic, PP professional paint, DETALE CPH, Stiwex, and Fiona brand names to painters, paint shops, stores, and DIY-centers through local distributors, as well as through online.
The company was founded in 1783 and is headquartered in Rødovre, Denmark.
Stock analysis
Flügger group A/S (FLUG-B) currently trades at kr 375.00, while our model-based Fair Value estimate is kr 358.70, so the stock looks roughly fairly valued today (gap 4.5%).
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 740.83 per share, and 12 of the 24 models we run sit above the kr 375.00 price.
Bear case: the Asset-Based group reads lowest at kr 137.56, and 12 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 269.02 (bear) to kr 448.37 (bull), the price of kr 375.00 sits inside 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 67/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Flügger group A/S reported revenue of 2.3B DKK in FY2026 versus 2.3B DKK in FY2022, a compound −0.1%/yr. Reported net income was 63.0M DKK in FY2026, compounding +70.4%/yr from FY2022.
Key figures
Market cap 1.1B DKK (≈ $168M) Micro · P/E ratio 17.6 · P/S ratio 0.48 · EPS (TTM) kr 21.32 · Dividend yield 5.3% · Net margin 2.7% · Return on equity 7.8% · Return on assets (EBIT) 4.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −37% fair-value upside, at −4%, FLUG-B screens cheaper than that median.
Fair Value models
Bearkr 269.02Fair Value kr 358.70Bullkr 448.37
Price kr 375.00 · Upside -4.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (kr 0.5214 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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 weak: less than 2 % a year.
Revenue growth 1 year
+1.8%
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.
−3.2%
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.
+1.4%
Start year 2021 (pandemic). Over 10 years: +2.3% a year
Revenue growth 18 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.
+2.2%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
−0.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.9%
Dividend (yield on the price)5.3%
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.1.0% vs 7.7%, slowing
Profit margin 2021 to 2026 ⓘ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.11% → 5%
2026 sits 103% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2021 (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).
−14.3%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Denmark: IMF forecast 2.1% a year to 2030, 2.0% from 2016 to 2025) that is about −16.1% 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.Specialty Chemicals · 705 stocks
Beats the industry median on 10/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside−4.3% · Above median
Profitability
Return on equity (12 months)7.8% · Above median
Return on assets3.4% · Above median
Net margin (12 months)2.7% · Below median
Operating margin (12 months)−3.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)1.9% · Below median
Dividend yield (12 months)5.3% · Top 25%
Balance sheet
Debt / equity0.11× · Above median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Flügger group A/S Fair Value". https://www.fairvalue-calculator.com/stock/FLUG-B
Frequently asked questions
Is Flügger group A/S (FLUG-B) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of kr 358.70 versus a price of kr 375.00, about −4% upside (fairly valued).
What is the fair value of FLUG-B?
Our model-based fair value for Flügger group A/S is kr 358.70 (as of Oct 2, 2026), built from audited fundamentals. The current price: kr 375.00.
What is the quality score of FLUG-B?
Flügger group A/S has a Quality Score of 67/100. 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 Flügger group A/S (FLUG-B)?
Our model-based price target is the fair value of kr 358.70 (as of Oct 2, 2026) from 24 valuation models. Cautious scenario kr 269.02, optimistic scenario kr 448.37. It is a calculation from audited fundamentals, not an analyst target.
What is the Flügger group A/S stock forecast for 2026?
Our models put fair value at kr 358.70, about −4% upside versus a price of kr 375.00 (fairly valued). Cautious scenario kr 269.02, optimistic scenario kr 448.37. The calculation is refreshed regularly with new filings.
What is the revenue of Flügger group A/S (FLUG-B)?
Flügger group A/S reported trailing-twelve-month revenue of about 2.3B DKK (latest available figure, as of Oct 2, 2026).
Does Flügger group A/S pay a dividend?
Flügger group A/S currently shows a dividend yield of 5.33% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Flügger group A/S (FLUG-B)?
For today's price to be fair in a discounted-cash-flow model, Flügger group A/S would have to grow free cash flow by -14.3 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.4 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of FLUG-B use?
Our models discount Flügger group A/S at 11.1 %: a base by market capitalisation (micro), damped by beta 0.56, country premium for Denmark. 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 Flügger group A/S that is -14.3 % per year a year over ten years, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has Flügger group A/S (FLUG-B) delivered so far?
Over the past 5 years revenue at Flügger group A/S grew +1.4 % a year. The price currently implies -14.3 % 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 Flügger group A/S (FLUG-B) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Flügger group A/S (-14.3 % 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 Flügger group A/S (FLUG-B)?
The free-cash-flow yield on the price is 23.58 %: that much free cash flow Flügger group A/S produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Flügger group A/S (FLUG-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Flügger group A/S it is kr 358.70 per share (as of Oct 2, 2026), against a price of kr 375.00. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Flügger group A/S stock overvalued or undervalued in 2026?
As of Oct 2, 2026, FLUG-B trades above its calculated fair value: price kr 375.00, fair value kr 358.70, a gap of about −4% (fairly valued). 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 FLUG-B?
No. The price is what the market pays today (kr 375.00); the fair value is what the company's own numbers justify (kr 358.70). For Flügger group A/S the two are kr 16.30 per share apart. That gap is exactly why we show both numbers side by side.
How much is Flügger group A/S worth?
The market values Flügger group A/S at about 1.1B DKK (market capitalisation, as of Oct 2, 2026). Per share that is kr 375.00; our models calculate a fair value of kr 358.70 per share.
What do the bullish and bearish scenarios say about FLUG-B?
Our models span a range for Flügger group A/S: cautious scenario kr 269.02, base kr 358.70, optimistic kr 448.37 per share (as of Oct 2, 2026, price kr 375.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FLUG-B?
Flügger group A/S trades at a price-to-earnings ratio of 17.6 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 358.70 is built from several models across several years. Other multiples: PEG 3.2, P/B 1.3, P/S 0.5, EV/EBITDA 7.3.
What is the PEG ratio of FLUG-B?
The PEG ratio of Flügger group A/S is 3.19 (P/E divided by earnings growth, as of Oct 2, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Flügger group A/S (FLUG-B)?
Balance-sheet figures for Flügger group A/S (as of Oct 2, 2026): return on equity 7.8%, debt of 0.11 per unit of equity. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is FLUG-B from its 52-week high?
Flügger group A/S trades at kr 375.00, about 15% below its 52-week high of kr 439.00 and 25% above the low of kr 300.49 (as of Oct 20, 2026). Distance from the high says nothing about value: that is what the fair value of kr 358.70 is for.
Which stocks are comparable to Flügger group A/S?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, 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 Flügger group A/S stock attractive at the current price?
The data as of Oct 2, 2026: price kr 375.00, calculated fair value kr 358.70 (−4%), Quality Score 67/100, 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 FLUG-B calculated?
We run Flügger group A/S 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 358.70, 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 13.9 % above its aggregate fair value. Flügger group A/S 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 Flügger group A/S (FLUG-B)?
The closing price on Oct 20, 2026 was kr 375.00. Our model-based fair value is kr 358.70, about −4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Flügger group A/S right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Flügger group A/S (FLUG-B) come from?
Earnings per share at Flügger group A/S grew +2.6 % a year from 2015 to 2026. Broken into its drivers: revenue per share +1.9 %, EBIT margin +6.0 %, tax rate −1.0 %, residual (interest, one-offs) −4.1 %. 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 Flügger group A/S
How large is the market capitalisation of Flügger group A/S (FLUG-B)?
The market capitalisation of Flügger group A/S is 1.1B DKK (≈ $168M). 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 Flügger group A/S (FLUG-B)?
The price-to-sales ratio of Flügger group A/S is 0.48 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Flügger group A/S (FLUG-B)?
Earnings per share at Flügger group A/S are kr 21.32 (price ÷ EPS = P/E 17.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Flügger group A/S (FLUG-B)?
The dividend yield of Flügger group A/S is 5.3% (payout 93.8%). 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 Flügger group A/S (FLUG-B)?
The net margin of Flügger group A/S is 2.7% (last twelve months). 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 Flügger group A/S (FLUG-B)?
The return on equity (ROE) of Flügger group A/S is 7.8% (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 Flügger group A/S (FLUG-B)?
On an EBIT basis the return on assets of Flügger group A/S is 4.8% (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 Flügger group A/S (FLUG-B)?
The operating margin of Flügger group A/S is −3.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Flügger group A/S (FLUG-B)?
Revenue at Flügger group A/S is growing +1.9% versus a year earlier (3y avg −3.2%). 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 Flügger group A/S (FLUG-B)?
Earnings per share at Flügger group A/S are growing −1.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Flügger group A/S (FLUG-B) carry?
The net debt of Flügger group A/S is 499M DKK (fiscal year 2026, ≈ 1.9 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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Broad data
Oct 2, 2026