HAKI Safety AB (HAKI-B) Fair Value & Analysis
Industrials · SE · Market cap 581M SEK (≈ $60.9M) · ISIN SE0000122673
What is HAKI Safety AB really worth?
A solid business, but trading 19% above our fair value of kr 17.93.
Strengths
Risks
Fair value as of: Aug 27, 2026
From 22 valuation models · updated 8 days ago
Share price −2.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
- 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)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.
How to read this chart
60‑month range kr 14.94 – kr 31.87 · fair‑value band kr 13.55 – kr 22.81 · the kr 21.30 price screens above the kr 17.93 fair value. Dashed = 300-day average. As of Aug 27, 2026.
Analysis
HAKI Safety AB (HAKI-B) currently trades at kr 21.30, while our model-based Fair Value estimate is kr 17.93, implying the stock looks roughly 18.8% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of kr 20.72 per share, and 6 of the 22 models we run sit above the kr 21.30 price. Bear case: the Earnings-Based group reads lowest at kr 2.95, and 16 of the 22 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, HAKI Safety AB generated revenue of 1.2B SEK at a net margin of 4.2%. Revenue grew 8.7% year over year. It earns a return on equity of 7.6%. Net debt stands at 466M SEK. Fundamentals as of Aug 27, 2026
Our scenario range runs from kr 13.55 (bear case) to kr 22.81 (bull case); at kr 21.30, 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 11% below its 52-week high and 22% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −58% fair-value upside, at −16%, HAKI-B screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 11 months have passed since. In that time the company retained roughly kr 1.24 per share, which is 6.9 % 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.
All 22 models by family
Widest divergence: Multiples (kr 20.72) versus Earnings-Based (kr 2.95). Highest evidence: Owner Earnings (75).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 58
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
HAKI Safety AB (publ) provides safety products and solutions for infrastructure, energy, industry, aviation, rail and construction, and civil engineering industries in Europe and North America.
Full company description
HAKI Safety AB (publ) provides safety products and solutions for infrastructure, energy, industry, aviation, rail and construction, and civil engineering industries in Europe and North America. The company offers work zone safety products, such as catchfans, barrier systems, access platforms, and stairs; scaffolding system products, including modular and frame scaffolding, weather protection, stair solutions, and bridge systems; and surveying instruments and equipment for land surveying and mapping. The company was formerly known as Midway Holding AB (publ) and changed its name to HAKI Safety AB (publ) in December 2023. The company was incorporated in 1988 and is headquartered in Malmö, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
HAKI Safety AB reported revenue of 1.2B SEK in FY2025 versus 863M SEK in FY2021, a compound +8.1%/yr. Reported net income was 34.0M SEK in FY2025, compounding −12.5%/yr from FY2021.
HAKI-B screens 19% overvalued. Compare with Carpenter Technology Corporation →
Peer Group
Metal Fabrication · 250 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.
Valuation Multiples vs Metal Fabrication median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Carpenter Technology Corporation CRS | $490.58 | $101.35 | −79% |
| ATI Inc ATI | $210.76 | $35.74 | −83% |
| Mueller Industries, Inc MLI | $62.80 | $59.33 | −6% |
| Aurubis AG NDA | €178.90 | €223.43 | +25% |
| China International Marine Containers (Group) Co 000039 | ¥9.39 | ¥3.39 | −64% |
| Commercial Metals Company CMC | $68.16 | $13.01 | −81% |
| JL Mag Rare-Earth Co 300748 | ¥27.08 | ¥8.34 | −69% |
| Viohalco S.A VIO | €16.46 | €14.98 | −9% |
| ESAB Corporation ESAB | $86.05 | $52.40 | −39% |
| Ningbo Zhenyu Technology Co 300953 | ¥104.36 | ¥44.23 | −58% |
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