Gullberg & Jansson AB (GJAB) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Gullberg & Jansson AB stock SEK 37.76, price SEK 20.60, upside +83.3%, quality 65 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 29, 2026.
How to read this chart
60‑month range kr 11.15 – kr 92.48 · fair‑value band kr 28.15 – kr 47.30 · the kr 20.60 price screens below the kr 37.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 29, 2026.
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Gullberg & Jansson AB (publ) develops, produces, and markets products for use in the green space, swimming pool, and relaxation and wellness industries in the Nordic markets. The company provides pool heat pump, cover, roof, stairs, liners, robots, fiber glass, and thermal.
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It also provides water purification, pool and spa chemistry, and pool package services. In addition, it offers pool snacks. The company sells its products to retailers and end consumers. Gullberg & Jansson AB (publ) was founded in 2002 and is headquartered in Helsingborg, Sweden.
Stock analysis
Gullberg & Jansson AB (GJAB) currently trades at kr 20.60, while our model-based Fair Value estimate is kr 37.76, implying the stock looks roughly 45.4% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 40.28 per share, and 7 of the 10 models we run sit above the kr 20.60 price.
Bear case: the DCF Models group reads lowest at kr 37.76, and 3 of the 10 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 28.15 (bear) to kr 47.30 (bull), the price of kr 20.60 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 65/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Gullberg & Jansson AB reported revenue of 271M SEK in FY2025 versus 382M SEK in FY2022, a compound −10.8%/yr. Reported net income was −7.3M SEK in FY2025.
Key figures
Market cap 180M SEK (≈ $18.3M) Micro · P/E ratio 71.0 · P/S ratio 0.62 · EPS (TTM) kr 0.2900 · Net margin 0.0% · Return on equity −0.5% · Return on assets (EBIT) −0.5% · Operating margin 13.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 85% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 24% fair-value upside, at 83%, GJAB screens cheaper than that median.
Fair Value models
Bearkr 28.15Fair Value kr 37.76Bullkr 47.30
Price kr 20.60 · Upside +83.3%
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 2025 figures (about 10 months old). Earnings retained since then (kr 0.2415 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 inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+10.9%
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.
−10.8%
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
11.9% (2022) → −1.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
−13.5%
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 (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about −15.2% 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.Leisure · 166 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+83.3% · Top 25%
Profitability
Return on assets−3.1% · Bottom 25%
Net margin (12 months)0.0% · Below median
Operating margin (12 months)13.9% · Above median
Growth and dividend
Revenue growth (quarter YoY)28.5% · Top 25%
Balance sheet
Debt / equity0.14× · Above median
Valuation Multiplesvs Leisure median · lower = cheaper
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). "Gullberg & Jansson AB Fair Value". https://www.fairvalue-calculator.com/stock/GJAB
Frequently asked questions
Is Gullberg & Jansson AB (GJAB) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of kr 37.76 versus a price of kr 20.60, about +83% upside (undervalued).
What is the fair value of GJAB?
Our model-based fair value for Gullberg & Jansson AB is kr 37.76 (as of Oct 29, 2026), built from audited fundamentals. The current price: kr 20.60.
What is the quality score of GJAB?
Gullberg & Jansson AB has a Quality Score of 65/100. 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 Gullberg & Jansson AB (GJAB)?
Our model-based price target is the fair value of kr 37.76 (as of Oct 29, 2026) from 10 valuation models. Cautious scenario kr 28.15, optimistic scenario kr 47.30. It is a calculation from audited fundamentals, not an analyst target.
What is the Gullberg & Jansson AB stock forecast for 2026?
Our models put fair value at kr 37.76, about +83% upside versus a price of kr 20.60 (undervalued). Cautious scenario kr 28.15, optimistic scenario kr 47.30. The calculation is refreshed regularly with new filings.
What is the revenue of Gullberg & Jansson AB (GJAB)?
Gullberg & Jansson AB reported trailing-twelve-month revenue of about 289M SEK (latest available figure, as of Oct 29, 2026).
What growth is priced into Gullberg & Jansson AB (GJAB)?
For today's price to be fair in a discounted-cash-flow model, Gullberg & Jansson AB would have to grow free cash flow by -13.5 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew -10.8 % per year. As of Oct 29, 2026.
What discount rate (WACC) does the fair value of GJAB use?
Our models discount Gullberg & Jansson AB at 8.3 %: a base by market capitalisation (nano), damped by beta 0.46, 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 Gullberg & Jansson AB that is -13.5 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Gullberg & Jansson AB (GJAB) delivered so far?
Over the past 3 years revenue at Gullberg & Jansson AB grew -10.8 % a year. The price currently implies -13.5 % 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 Gullberg & Jansson AB (GJAB) growing?
The median revenue growth in the sector is +9.6 % a year. That is the yardstick for the growth priced into Gullberg & Jansson AB (-13.5 % 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 Gullberg & Jansson AB (GJAB)?
The free-cash-flow yield on the price is 13.41 %: that much free cash flow Gullberg & Jansson AB produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Gullberg & Jansson AB (GJAB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gullberg & Jansson AB it is kr 37.76 per share (as of Oct 29, 2026), against a price of kr 20.60. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Gullberg & Jansson AB stock overvalued or undervalued in 2026?
As of Oct 29, 2026, GJAB trades below its calculated fair value: price kr 20.60, fair value kr 37.76, a gap of about +83% (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 GJAB?
No. The price is what the market pays today (kr 20.60); the fair value is what the company's own numbers justify (kr 37.76). For Gullberg & Jansson AB the two are kr 17.16 per share apart. That gap is exactly why we show both numbers side by side.
How much is Gullberg & Jansson AB worth?
The market values Gullberg & Jansson AB at about 180M SEK (market capitalisation, as of Oct 29, 2026). Per share that is kr 20.60; our models calculate a fair value of kr 37.76 per share.
What do the bullish and bearish scenarios say about GJAB?
Our models span a range for Gullberg & Jansson AB: cautious scenario kr 28.15, base kr 37.76, optimistic kr 47.30 per share (as of Oct 29, 2026, price kr 20.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GJAB?
Gullberg & Jansson AB trades at a price-to-earnings ratio of 71.0 (as of Oct 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 37.76 is built from several models across several years. Other multiples: P/B 0.2, P/S 0.1.
How solid is the balance sheet of Gullberg & Jansson AB (GJAB)?
Balance-sheet figures for Gullberg & Jansson AB (as of Oct 29, 2026): return on equity −0.5%, debt of 0.14 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is GJAB from its 52-week high?
Gullberg & Jansson AB trades at kr 20.60, at its 52-week high of kr 20.60 and 85% above the low of kr 11.15 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of kr 37.76 is for.
Which stocks are comparable to Gullberg & Jansson AB?
From the same area (Consumer Cyclical) we also value Pop Mart International Group, Amer Sports, Inc, Hasbro, Inc, Life Time 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 Gullberg & Jansson AB stock attractive at the current price?
The data as of Oct 29, 2026: price kr 20.60, calculated fair value kr 37.76 (+83%), Quality Score 65/100, from 10 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 GJAB calculated?
We run Gullberg & Jansson AB through 10 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 37.76, 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 13.4 % above its aggregate fair value. Gullberg & Jansson AB currently trades 45 % 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 Gullberg & Jansson AB (GJAB)?
The closing price on Oct 30, 2026 was kr 20.60. Our model-based fair value is kr 37.76, about +83% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gullberg & Jansson AB right now?
The price is below even our cautious bear case (kr 28.15). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Gullberg & Jansson AB
How large is the market capitalisation of Gullberg & Jansson AB (GJAB)?
The market capitalisation of Gullberg & Jansson AB is 180M SEK (≈ $18.3M). 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 Gullberg & Jansson AB (GJAB)?
The price-to-sales ratio of Gullberg & Jansson AB is 0.62 (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 Gullberg & Jansson AB (GJAB)?
Earnings per share at Gullberg & Jansson AB are kr 0.2900 (price ÷ EPS = P/E 71.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Gullberg & Jansson AB (GJAB)?
The net margin of Gullberg & Jansson AB is 0.0% (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 Gullberg & Jansson AB (GJAB)?
The return on equity (ROE) of Gullberg & Jansson AB is −0.5% (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 Gullberg & Jansson AB (GJAB)?
On an EBIT basis the return on assets of Gullberg & Jansson AB is −0.5% (avg 4y). 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 Gullberg & Jansson AB (GJAB)?
The operating margin of Gullberg & Jansson AB is 13.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gullberg & Jansson AB (GJAB)?
Revenue at Gullberg & Jansson AB is growing +28.5% versus a year earlier (3y avg −10.8%). 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 Gullberg & Jansson AB (GJAB)?
Earnings per share at Gullberg & Jansson AB are growing +133% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Gullberg & Jansson AB (GJAB) carry?
The net debt of Gullberg & Jansson AB is 2.0M SEK (fiscal year 2024, ≈ 0.1 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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Oct 29, 2026