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Hanza AB (HANZA) Fair Value & Analysis

Technology · SE · Market cap 8.6B SEK

HA Hanza AB HANZA · ST
Pricekr 132.00
Fair Valuekr 66.51
Upside-49.6%
Quality40/100
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Healthy Growth
Thin margins · 4.6% net margin
Moderate debt · generates free cash flow
1.13% dividend yield
Mixed vs. peers (8/14)
Narrow moat 43/100
Evidence: High Range kr 49.88 – kr 90.28 Share as image

Fair value as of: Jul 20, 2026

From 24 valuation models · updated 21 days ago

Share price +1.7% over the past month.

Below-average quality, and screening another 50% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 90.28). The favourable scenario is already priced in.
  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (kr 49.88 to kr 90.28) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 179.40 kr 17.17 Fair Value kr 66.51 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range kr 17.17 – kr 179.40 · fair‑value band kr 49.88 – kr 90.28 · the kr 132.00 price screens above the kr 66.51 fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Hanza AB (HANZA) currently trades at kr 132.00, while our model-based Fair Value estimate is kr 66.51, implying the stock looks roughly 49.6% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Technology 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, Hanza AB generated revenue of 7.3B SEK at a net margin of 4.6%. Revenue grew 99.5% year over year. It earns a return on equity of 11.5%. Net debt stands at 2.1B SEK. Fundamentals as of Jul 20, 2026

Our scenario range runs from kr 49.88 (bear case) to kr 90.28 (bull case); at kr 132.00, the current price sits above 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 27% below its 52-week high and 73% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -50%, HANZA screens cheaper 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 53.31 kr 119.71 kr 235.64 80
Residual Income kr 27.39 kr 33.78 kr 77.84 76
Rev-Margin DCF kr 42.45 kr 92.03 kr 163.44 74
All 24 models by family
DCF Models
FCF DCF kr 55.99 kr 107.87 kr 241.94 38
Owner Earnings kr 57.34 kr 136.23 kr 288.49 31
5Y Revenue Exit kr 42.45 kr 91.86 kr 169.14 39
5Y EBITDA Exit kr 71.16 kr 155.97 kr 281.05 41
5Y P/E Exit kr 45.91 kr 102.22 kr 171.96 38
10Y Revenue Exit kr 44.45 kr 97.17 kr 175.24 36
10Y EBITDA Exit kr 65.77 kr 147.24 kr 290.12 37
10Y P/E Exit kr 48.66 kr 103.22 kr 191.05 35
Earnings-Based
Graham-Dodd kr 26.60 kr 169.77 kr 237.31 54
Lynch FV kr 49.13 kr 70.19 kr 91.24 50
PEG = 1.0 kr 49.13 kr 70.19 kr 91.24 46
EPV kr 29.72 kr 36.75 kr 42.82 59
Multiples
P/E Multiple kr 58.68 kr 78.25 kr 97.81 63
P/S Multiple kr 49.88 kr 66.51 kr 83.14 58
P/B Multiple kr 49.88 kr 66.51 kr 83.14 55
EV/EBIT kr 59.26 kr 83.96 kr 108.65 53
EV/EBITDA kr 81.64 kr 113.79 kr 145.94 54
EV/Revenue kr 35.12 kr 56.52 kr 77.92 43
Asset-Based
NCAV (Graham) kr 14.42 kr 19.33 kr 28.85 50
Growth DCF
Growth DCF kr 53.31 kr 119.71 kr 235.64 80
Rev-Margin DCF kr 42.45 kr 92.03 kr 163.44 74
Economic Profit
Residual Income kr 27.39 kr 33.78 kr 77.84 76
ROIC Compounder kr 30.44 kr 48.02 kr 64.20 72
Growth Earnings
Growth-Adj P/E kr 68.09 kr 97.27 kr 126.46 68

Widest divergence: DCF Models (kr 103.22) versus Asset-Based (kr 19.33). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 7.3B SEK
Revenue growth (YoY) +99.5%
Net margin 4.6%
Return on equity 11.5%
Free cash flow 315M SEK FY2025
P/E ratio 26.8
More key figures
Operating margin 7.3%
EPS (TTM) kr 6.57
Dividend yield 0.9%
EPS growth (YoY) +131%
Net debt 2.1B SEK FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 43 · Market factors (momentum, volatility) 39

Profitability 44
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 35
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 19
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

Hanza AB (publ), together with its subsidiaries, provides contract manufacturing solutions in Sweden, Finland, Estonia, Germany, Poland, the Czech Republic, rest of the European Union, Norway, rest of Europe, North America, and internationally. It operates through Main Markets, Other Markets, and Business Development and Services segments.

Full company description

Hanza AB (publ), together with its subsidiaries, provides contract manufacturing solutions in Sweden, Finland, Estonia, Germany, Poland, the Czech Republic, rest of the European Union, Norway, rest of Europe, North America, and internationally. It operates through Main Markets, Other Markets, and Business Development and Services segments. The company offers machining solutions comprising grinding, turbine component, milling, turning, electrical discharge machining, assembly, logistics, and prototype services; sheet metal processing solutions consisting of punching and laser cutting, bending, welding, coating, and surface treatment services; heavy mechanics solutions; and electronics manufacturing solutions, including research and development, printed circuit board assembly, and research and development test development center services. It also provides wire harness solutions comprising automated cut-strip-crimp wire processing, cut and strip technology, crimp tool, low- and high-pressure molding of cables, cable and label marking, multi-channel testing, and ultrasonic welding services, as well as laser engraving, pad printing, and hot stamping for plastic parts; and assembly solutions, including design and development, test development, and design and adaptation services. In addition, the company offers business consulting; and tech solutions, including development projects, electronics, mechanics, and software. Hanza AB (publ) was incorporated in 2008 and is headquartered in Kista, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hanza AB reported revenue of kr 6.0B in FY2025 versus kr 2.5B in FY2021, a compound +24.4%/yr. Reported net income was kr 246M in FY2025, compounding +32.4%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
6.0B SEK
Latest YoY
+24.2%
Avg. growth/yr (3Y)
+19.3%
Avg. growth/yr (5Y)
+22.8%
Avg. growth/yr (13Y)
+15.2%
Revenue +24.4%/yr
FY21 kr 2.5B
FY22 kr 3.5B
FY23 kr 4.1B
FY24 kr 4.9B
FY25 kr 6.0B
Net income +32.4%/yr
FY21 kr 80.0M
FY22 kr 121M
FY23 kr 214M
FY24 kr 111M
FY25 kr 246M

HANZA screens 50% overvalued. Compare with Delta Electronics, Inc →

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

Peer Group

Electronic Components · 626 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 40 · Bottom 25%
Fair Value upside −50% · Below median
Return on equity (TTM) 12% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 100% · Top 25%
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.78× · Higher than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 20.7× · Cheaper than median
P/B 4.71× · Pricier than 75% of peers
P/S (TTM) 1.16× · Cheaper than median
P/FCF 2.9× · Pricier than median
EV/EBITDA 13.8× · Cheaper 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 0 · sector 0
FUTURE 100 · sector 32
PAST 46 · sector 24
HEALTH 61 · sector 95
DIVIDEND 23 · sector 25

VALUE 0: the price sits above our fair-value range.

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Hanza AB (HANZA) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of kr 66.51 versus a price of kr 132.00, about −50% (overvalued).
What is the fair value of HANZA?
Our model-based fair value for Hanza AB is kr 66.51 (as of Jul 20, 2026), built from audited fundamentals. The current price is kr 132.00.
What is the quality score of HANZA?
Hanza AB has a Quality Score of 40/100. 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 Hanza AB (HANZA)?
Hanza AB reported trailing-twelve-month revenue of about 7.3B SEK (latest available figure, as of Jul 20, 2026).
What is the net profit margin of HANZA?
The net profit margin of Hanza AB is about 4.6%, meaning it keeps roughly 4.6% of revenue as net income. Based on the latest reported figures.
Does Hanza AB pay a dividend?
Hanza AB currently shows a dividend yield of about 0.85% relative to its recent price (as of Jul 20, 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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