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Gränges AB (GRNG) Fair Value & Analysis

Basic Materials · SE · Market cap 19.2B SEK

GA Gränges AB GRNG · ST
Pricekr 185.10
Fair Valuekr 161.98
Upside-12.5%
Quality56/100
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Mixed Growth
Thin margins · 3.8% net margin
Low debt · generates free cash flow
1.91% dividend yield
Ranks above peers (10/15)
Narrow moat 42/100
Evidence: High Range kr 100.25 – kr 202.48 Share as image

Fair value as of: Jul 19, 2026

From 24 valuation models · updated 21 days ago

Share price +11.0% over the past month.

A solid business, but screening 12% overvalued on our models.

What matters now

  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 100.25 to kr 202.48) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 195.20 kr 64.95 Fair Value kr 161.98 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range kr 64.95 – kr 195.20 · fair‑value band kr 100.25 – kr 202.48 · the kr 185.10 price screens above the kr 161.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Gränges AB (GRNG) currently trades at kr 185.10, while our model-based Fair Value estimate is kr 161.98, implying the stock looks roughly 12.5% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Gränges AB generated revenue of 29.4B SEK at a net margin of 3.7%. Revenue grew 13.9% year over year. It earns a return on equity of 10.5%. Net debt stands at 4.3B SEK. Fundamentals as of Jul 19, 2026

Our scenario range runs from kr 100.25 (bear case) to kr 202.48 (bull case); at kr 185.10, 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 about 6% below its 52-week high and 65% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 19% fair-value upside, at -12%, GRNG screens richer 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 BearBaseBull Evidence
Highest evidence
Growth DCF kr 28.45 kr 67.01 kr 126.63 80
Residual Income kr 81.09 kr 90.96 kr 159.05 76
Rev-Margin DCF kr 94.34 kr 200.40 kr 345.86 74
All 24 models by family
DCF Models
FCF DCF kr 29.34 kr 65.57 kr 142.22 38
Owner Earnings kr 132.13 kr 272.05 kr 534.39 31
5Y Revenue Exit kr 94.34 kr 206.60 kr 369.01 39
5Y EBITDA Exit kr 112.25 kr 245.63 kr 423.45 41
5Y P/E Exit kr 81.15 kr 177.87 kr 295.36 38
10Y Revenue Exit kr 68.33 kr 169.49 kr 344.14 36
10Y EBITDA Exit kr 85.34 kr 199.02 kr 392.26 37
10Y P/E Exit kr 64.23 kr 147.75 kr 279.03 35
Earnings-Based
Graham-Dodd kr 64.79 kr 359.25 kr 498.67 54
Lynch FV kr 100.25 kr 143.21 kr 186.17 50
PEG = 1.0 kr 100.25 kr 143.21 kr 186.17 46
EPV kr 104.40 kr 123.59 kr 140.38 59
Multiples
P/E Multiple kr 121.49 kr 161.98 kr 202.48 63
P/S Multiple kr 121.49 kr 161.98 kr 202.48 58
P/B Multiple kr 121.49 kr 161.98 kr 202.48 55
EV/EBIT kr 141.73 kr 192.56 kr 243.39 53
EV/EBITDA kr 158.15 kr 214.45 kr 270.75 54
EV/Revenue kr 121.40 kr 178.03 kr 234.67 43
Asset-Based
NCAV (Graham) kr 45.58 kr 61.07 kr 91.15 50
Growth DCF
Growth DCF kr 28.45 kr 67.01 kr 126.63 80
Rev-Margin DCF kr 94.34 kr 200.40 kr 345.86 74
Economic Profit
Residual Income kr 81.09 kr 90.96 kr 159.05 76
ROIC Compounder kr 113.20 kr 167.29 kr 219.15 72
Growth Earnings
Growth-Adj P/E kr 137.18 kr 195.97 kr 254.77 68

Widest divergence: Growth Earnings (kr 195.97) versus Asset-Based (kr 61.07). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 32.1B SEK
Revenue growth (YoY) +38.8%
Net margin 3.8%
Return on equity 11.6%
Free cash flow 307M SEK FY2025
P/E ratio 16.0
More key figures
Operating margin 6.0%
EPS (TTM) kr 11.29
Dividend yield 1.9%
EPS growth (YoY) +42.6%
Net debt 4.3B SEK FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 53 · Market factors (momentum, volatility) 71

Profitability 47
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 84
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.

About the company

Gränges AB (publ), together with its subsidiaries, engages in the development, production, and distribution of rolled aluminum products in the Americas, Asia, and Europe. The company offers clad and unclad rolled aluminum products under the Gränges Endure brand name.

Full company description

Gränges AB (publ), together with its subsidiaries, engages in the development, production, and distribution of rolled aluminum products in the Americas, Asia, and Europe. The company offers clad and unclad rolled aluminum products under the Gränges Endure brand name. It serves the automotive HEX, HVAC, specialty packaging, electrification and battery, industrial, and powder metallurgy industries. The company was formerly known as Sapa AB and changed its name to Gränges AB (publ) in April 2013. Gränges AB (publ) was founded in 1896 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Gränges AB reported revenue of kr 28.4B in FY2025 versus kr 18.1B in FY2021, a compound +11.8%/yr. Reported net income was kr 1.0B in FY2025, compounding +14.3%/yr from FY2021.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
28.4B SEK
Latest YoY
+20.7%
Avg. growth/yr (3Y)
+5.0%
Avg. growth/yr (5Y)
+20.8%
Avg. growth/yr (14Y)
+13.5%
Revenue +11.8%/yr
FY21 kr 18.1B
FY22 kr 24.5B
FY23 kr 22.5B
FY24 kr 23.5B
FY25 kr 28.4B
Net income +14.3%/yr
FY21 kr 595M
FY22 kr 700M
FY23 kr 1.0B
FY24 kr 1.0B
FY25 kr 1.0B

GRNG screens 12% overvalued. Compare with Shandong Hongqiao Aluminum Industry Holding →

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Cite: Fair Value Calculator (2026). "Gränges AB Fair Value". https://www.fairvalue-calculator.com/stock/GRNG

Peer Group

Aluminum · 83 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 56 · Above median
Fair Value upside −13% · Above median
Return on equity (TTM) 12% · Above median
Return on assets 5% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth 39% · Top 25%
Dividend yield (TTM) 1.9% · Above median
Debt / equity 0.17× · Lower than median

Valuation Multiples vs Aluminum median · lower = cheaper

P/E (TTM) 16.0× · Cheaper than median
P/B 1.98× · Pricier than median
P/S (TTM) 0.60× · Cheaper than median
P/FCF 6.6× · Pricier than median
EV/EBITDA 7.9× · Pricier than median
PEG 1.41× · Pricier 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 17 · sector 15
FUTURE 100 · sector 26
PAST 46 · sector 30
HEALTH 91 · sector 91
DIVIDEND 38 · sector 33

Insider activity: 45/100

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 Aluminum stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Shandong Hongqiao Aluminum Industry Holding 002379 ¥18.54 ¥26.70 +44%
China Hongqiao Group 1378 HK$24.54 HK$45.53 +86%
Hindalco Industries Limited HINDALCO ₹955.80 ₹1,026 +7%
Aluminum Corporation 601600 ¥8.11 ¥12.58 +55%
Norsk Hydro ASA NHY kr 84.96 kr 58.10 -32%
Press Metal Aluminium Holdings 8869 8.02 MYR 3.88 MYR -52%
Alcoa Corporation AAI A$70.60 A$49.53 -30%
Yunnan Aluminium Co 000807 ¥25.12 ¥29.68 +18%
Henan Shenhuo Coal Industry and Electricity Power Co 000933 ¥25.51 ¥30.28 +19%
Tianshan Aluminum Group 002532 ¥11.99 ¥21.86 +82%

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Frequently asked questions

Is Gränges AB (GRNG) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of kr 161.98 versus a price of kr 185.10, about −12% (overvalued).
What is the fair value of GRNG?
Our model-based fair value for Gränges AB is kr 161.98 (as of Jul 19, 2026), built from audited fundamentals. The current price is kr 185.10.
What is the quality score of GRNG?
Gränges AB has a Quality Score of 56/100. 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 Gränges AB (GRNG)?
Gränges AB reported trailing-twelve-month revenue of about 29.4B SEK (latest available figure, as of Jul 19, 2026).
What is the net profit margin of GRNG?
The net profit margin of Gränges AB is about 3.7%, meaning it keeps roughly 3.7% of revenue as net income. Based on the latest reported figures.
Does Gränges AB pay a dividend?
Gränges AB currently shows a dividend yield of about 1.76% relative to its recent price (as of Jul 19, 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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