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FM Mattsson AB (FMM-B) Fair Value & Analysis

Industrials · SE · Market cap 3.3B SEK (≈ $346M) · ISIN SE0018040883

What is FM Mattsson AB really worth?

FM FM Mattsson AB FMM-B · ST
Pricekr 104.00
Fair Valuekr 88.02
Upside−15.4%
Quality74/100

A solid business, but trading 18% above our fair value of kr 88.02.

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Strengths

Healthy Growth (revenue 5y +5.1 %/yr)
Low debt · generates free cash flow
Ranks above peers (10/14)

Risks

!Thin margins · 6.8% net margin
!Moderate moat 49/100
!Weak on valuation: 13 out of 100
!Weak on future: 20 out of 100

For context

·2.40% dividend yield
Evidence: High Range kr 66.02 – kr 110.03

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 22 days ago

Share price +17.6% over the past month.

What runs behind every stock

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

What matters now

  • A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • 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.

Price vs Fair Value (5 years)

kr 106.50 kr 41.25 Fair Value kr 88.02 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 41.25 – kr 106.50 · fair‑value band kr 66.02 – kr 110.03 · the kr 104.00 price screens above the kr 88.02 fair value. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

FM Mattsson AB (FMM-B) currently trades at kr 104.00, while our model-based Fair Value estimate is kr 88.02, implying the stock looks roughly 18.2% overvalued today. The Quality Score stands at 74/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of kr 95.14 per share, and 1 of the 24 models we run sit above the kr 104.00 price. Bear case: the Asset-Based group reads lowest at kr 19.81, and 23 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, FM Mattsson AB generated revenue of 2.0B SEK at a net margin of 6.8%. Revenue grew 4.0% year over year. It earns a return on equity of 12.6%. The balance sheet holds a net cash position of 159M SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 66.02 (bear case) to kr 110.03 (bull case); at kr 104.00, 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 near its 52-week high and 107% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −29% fair-value upside, at −15%, FMM-B screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 0.4892 per share, which is 0.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

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
FCF DCF kr 69.05 kr 100.09 kr 144.64 80
Growth DCF kr 70.15 kr 97.82 kr 135.29 79
Owner Earnings kr 65.64 kr 95.01 kr 137.15 76
All 24 models by family
DCF Models
FCF DCF kr 69.05 kr 100.09 kr 144.64 80
Owner Earnings kr 65.64 kr 95.01 kr 137.15 76
5Y Revenue Exit kr 56.40 kr 82.03 kr 113.95 73
5Y EBITDA Exit kr 68.84 kr 104.96 kr 146.29 75
5Y P/E Exit kr 65.99 kr 99.71 kr 134.34 71
10Y Revenue Exit kr 59.28 kr 83.23 kr 113.95 67
10Y EBITDA Exit kr 68.30 kr 98.68 kr 137.75 68
10Y P/E Exit kr 66.53 kr 95.14 kr 128.96 64
Earnings-Based
Graham-Dodd kr 27.21 kr 78.55 kr 103.66 65
Lynch FV kr 16.22 kr 23.17 kr 30.12 61
PEG = 1.0 kr 16.22 kr 23.17 kr 30.12 57
EPV kr 41.61 kr 47.26 kr 52.13 74
Multiples
P/E Multiple kr 66.02 kr 88.02 kr 110.03 63
P/S Multiple kr 48.90 kr 65.21 kr 81.51 58
P/B Multiple kr 51.01 kr 68.02 kr 85.02 55
EV/EBIT kr 75.87 kr 99.22 kr 122.56 66
EV/EBITDA kr 76.95 kr 100.65 kr 124.35 67
EV/Revenue kr 51.49 kr 71.05 kr 90.61 54
Asset-Based
NCAV (Graham) kr 14.78 kr 19.81 kr 29.56 54
Growth DCF
Growth DCF kr 70.15 kr 97.82 kr 135.29 79
Rev-Margin DCF kr 56.40 kr 82.60 kr 112.29 73
Economic Profit
Residual Income kr 28.04 kr 34.38 kr 75.14 71
ROIC Compounder kr 43.52 kr 52.71 kr 63.30 72
Growth Earnings
Growth-Adj P/E kr 52.99 kr 75.70 kr 98.41 67

Widest divergence: DCF Models (kr 95.14) versus Asset-Based (kr 19.81). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 24.2 as of Jul 13, 2026
P/S ratio 1.78 P/E × margin
EPS (TTM) kr 3.22 price ÷ EPS = P/E 24.2
Dividend yield 2.4% payout 77.6%
Net margin 7.4% FY2025
Return on equity 12.6% TTM
More key figures
Profitability
Return on assets (EBIT) 12.4% avg 5y
Operating margin 8.4% TTM
Growth
Revenue (TTM) 2.0B SEK TTM
Revenue growth (YoY) +4.0% 3y avg +0.8%
EPS growth (YoY) −21.5%
Balance sheet & cash flow
Free cash flow 216M SEK FY2025
Net cash 159M SEK FY2025

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

Quality Score breakdown

Overall quality 74/100

Of which business quality 73 · Market factors (momentum, volatility) 82

Profitability 60
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 91
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 82
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

FM Mattsson AB (publ) develops, manufactures, and sells water taps and related products for bathrooms and kitchens in Sweden, Norway, Denmark, Finland, Benelux, the United Kingdom, Germany, Italy, and internationally. The company offers products under the FM Mattsson, Mora Armatur, Damixa, Hotbath, Aqualla, and Adamsez brands.

Full company description

FM Mattsson AB (publ) develops, manufactures, and sells water taps and related products for bathrooms and kitchens in Sweden, Norway, Denmark, Finland, Benelux, the United Kingdom, Germany, Italy, and internationally. The company offers products under the FM Mattsson, Mora Armatur, Damixa, Hotbath, Aqualla, and Adamsez brands. It serves real estate companies and public sectors. The company was formerly known as FM Mattsson Mora Group AB (publ) and changed its name to FM Mattsson AB (publ) in 2022. FM Mattsson AB (publ) was founded in 1865 and is headquartered in Mora, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

FM Mattsson AB reported revenue of 2.0B SEK in FY2025 versus 1.8B SEK in FY2021, a compound +1.9%/yr. Reported net income was 145M SEK in FY2025, compounding −11.6%/yr from FY2021.

Growth Quality 74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.0B SEK
Latest YoY
+4.7%
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.
+0.8%
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.
+5.1%
Avg. revenue growth/yr (13Y) 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.
+6.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+12.6% (10.2 + 2.4)
Revenue +1.9%/yr
FY21 1.8B SEK
FY22 1.9B SEK
FY23 1.9B SEK
FY24 1.9B SEK
FY25 2.0B SEK
Net income −11.6%/yr
FY21 237M SEK
FY22 193M SEK
FY23 147M SEK
FY24 102M SEK
FY25 145M SEK
Character of growth · EPS growth decomposed (2014-2025) +10.1 % p.a.
Revenue per share +6.3 %

of which total revenue +6.8 % · buybacks/dilution −0.5 %

EBIT margin +3.2 %
Tax rate −0.1 %
Residual (interest, one-offs) +0.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

FMM-B screens 18% overvalued. Compare with Trane Technologies plc →

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Cite: Fair Value Calculator (2026). "FM Mattsson AB Fair Value". https://www.fairvalue-calculator.com/stock/FMM-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 74 · Top 25%
Fair Value upside −15% · Above median
Return on equity (TTM) 13% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 4% · Above median
Dividend yield (TTM) 2.4% · Above median
Debt / equity 0.03× · Lower than median

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

P/E (TTM) 24.2× · Pricier than median
P/B 3.08× · Pricier than 75% of peers
P/S (TTM) 1.66× · Pricier than median
P/FCF 1.6× · Cheaper than median
EV/EBITDA 13.4× · Pricier than median

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
VALUE13 · sector 2
FUTURE20 · sector 11
PAST50 · sector 25
HEALTH98 · sector 95
DIVIDEND48 · 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 FM Mattsson AB (FMM-B) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 88.02 versus a price of kr 104.00, about −15% upside (overvalued).
What is the fair value of FMM-B?
Our model-based fair value for FM Mattsson AB is kr 88.02 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 104.00.
What is the quality score of FMM-B?
FM Mattsson AB has a Quality Score of 74/100. 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 FM Mattsson AB (FMM-B)?
FM Mattsson AB reported trailing-twelve-month revenue of about 2.0B SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of FMM-B?
The net profit margin of FM Mattsson AB is about 6.8%, meaning it keeps roughly 6.8% of revenue as net income. Based on the latest reported figures.
Does FM Mattsson AB pay a dividend?
FM Mattsson AB currently shows a dividend yield of about 2.40% relative to its recent price (as of Aug 13, 2026).
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