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HEXPOL AB (HPOL-B) Fair Value & Analysis

Basic Materials · SE · Market cap 24.7B SEK (≈ $2.6B) · ISIN SE0007074281

What is HEXPOL AB really worth?

HA HEXPOL AB HPOL-B · ST
Pricekr 95.95
Fair Valuekr 92.37
Upside−3.7%
Quality61/100

A solid business, currently priced close to our fair value of kr 92.37.

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Strengths

Low debt · generates free cash flow
Ranks above peers (12/15)

Risks

!Weak Growth (revenue 5y +7.6 %/yr)
!Thin margins · 9.9% net margin
!Moderate moat 51/100
!Weak on valuation: 28 out of 100

For context

·4.38% dividend yield
Evidence: High Range kr 66.86 – kr 117.88

Fair value as of: Sep 3, 2026

From 24 valuation models · updated 2 days ago

Share price +6.0% over the past month.

What runs behind every stock

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

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • 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 117.69 kr 64.72 Fair Value kr 92.37 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.

How to read this chart

60‑month range kr 64.72 – kr 117.69 · fair‑value band kr 66.86 – kr 117.88 · the kr 95.95 price screens above the kr 92.37 fair value. Dashed = 300-day average. As of Sep 3, 2026.

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Analysis

HEXPOL AB (HPOL-B) currently trades at kr 95.95, while our model-based Fair Value estimate is kr 92.37, implying the stock looks roughly 3.9% fairly valued today. The Quality Score stands at 61/100 (solid quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of kr 127.42 per share, and 14 of the 24 models we run sit above the kr 95.95 price. Bear case: the Asset-Based group reads lowest at kr 28.50, and 10 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, HEXPOL AB generated revenue of 18.7B SEK at a net margin of 9.9%. Revenue declined 11.4% year over year. It earns a return on equity of 12.3%. Net debt stands at 3.2B SEK. Fundamentals as of Sep 3, 2026

Our scenario range runs from kr 66.86 (bear case) to kr 117.88 (bull case); at kr 95.95, 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 52% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −58% fair-value upside, at −4%, HPOL-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 0.7882 per share, which is 0.9 % 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.

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 best evidence kr 90.15 kr 152.28 kr 255.57 76
EPV kr 63.59 kr 73.61 kr 82.38 74
Growth DCF kr 90.27 kr 149.24 kr 245.86 74
All 24 models by family
DCF Models
FCF DCF best evidence kr 90.15 kr 152.28 kr 255.57 76
Owner Earnings kr 10.88 kr 16.18 kr 25.01 73
5Y Revenue Exit kr 72.31 kr 116.92 kr 175.62 69
5Y EBITDA Exit kr 78.77 kr 129.79 kr 191.70 72
5Y P/E Exit kr 77.92 kr 128.11 kr 183.47 68
10Y Revenue Exit kr 75.68 kr 119.37 kr 182.42 64
10Y EBITDA Exit kr 81.93 kr 128.63 kr 195.45 65
10Y P/E Exit kr 81.38 kr 127.42 kr 188.78 61
Earnings-Based
Graham-Dodd kr 40.08 kr 164.35 kr 223.84 62
Lynch FV kr 41.30 kr 59.00 kr 76.70 59
PEG = 1.0 kr 41.30 kr 59.00 kr 76.70 55
EPV kr 63.59 kr 73.61 kr 82.38 74
Multiples
P/E Multiple kr 75.15 kr 100.19 kr 125.24 63
P/S Multiple kr 65.94 kr 87.92 kr 109.90 58
P/B Multiple kr 75.15 kr 100.19 kr 125.24 55
EV/EBIT kr 92.37 kr 122.00 kr 151.63 66
EV/EBITDA kr 80.00 kr 105.51 kr 131.02 67
EV/Revenue kr 65.02 kr 91.40 kr 117.77 54
Asset-Based
NCAV (Graham) kr 21.27 kr 28.50 kr 42.53 54
Growth DCF
Growth DCF kr 90.27 kr 149.24 kr 245.86 74
Rev-Margin DCF kr 72.31 kr 116.54 kr 171.63 70
Economic Profit
Residual Income kr 41.32 kr 52.33 kr 129.40 66
ROIC Compounder kr 69.98 kr 92.38 kr 121.87 69
Growth Earnings
Growth-Adj P/E kr 63.40 kr 90.58 kr 117.75 65

Widest divergence: DCF Models (kr 127.42) versus Asset-Based (kr 28.50). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 13.9 as of Jun 8, 2026
P/S ratio 1.40 P/E × margin
EPS (TTM) kr 5.36 price ÷ EPS = P/E 13.9
Dividend yield 4.4% payout 78.4%
Net margin 10.1% FY2025
Return on equity 12.3% TTM
More key figures
Profitability
Return on assets (EBIT) 14.4% avg 5y
Operating margin 14.7% TTM
Growth
Revenue (TTM) 18.7B SEK TTM
Revenue growth (YoY) −11.4% 3y avg −4.6%
EPS growth (YoY) −15.8%
Balance sheet & cash flow
Free cash flow 2.3B SEK FY2025
Net debt 3.2B SEK FY2025 · ≈ 1.4 yrs of FCF

Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 59 · Market factors (momentum, volatility) 74

Profitability 50
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 73
Price trend over the last 3–12 months (market factor)
52W Momentum 78
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

HEXPOL AB (publ) develops, manufactures, and sells various polymer compounds and engineered gaskets, seals, and wheels in Sweden, rest of Europe, the United States, rest of the Americas, and Asia. It operates through two segments, HEXPOL Compounding and HEXPOL Engineered Products.

Full company description

HEXPOL AB (publ) develops, manufactures, and sells various polymer compounds and engineered gaskets, seals, and wheels in Sweden, rest of Europe, the United States, rest of the Americas, and Asia. It operates through two segments, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Compounding segment offers natural and synthetic rubber compounds under the HEXFLAME, HEXLIGHT, GloMold, and other brands; thermoplastic elastomer compounds under the Dryflex, Mediprene, Epseal, Lifolit, and Lifocork brands; and thermoplastic compounds under the RheTech brand. Its HEXPOL Engineered Products segment develops finished gaskets and seals under the Gislaved Gummi brand, as well as wheels under the Stellana brand. It serves the automotive and engineering; building, construction, and civil engineering; aerospace and transportation; energy; consumer products and electronics; cable and wire; oil and gas; rollers; agriculture; hose; graphic production; toy, sport, and leisure; and plumbing industries, as well as manufacturers of medical equipment, plate heat exchangers, forklifts, and castor wheels. The company was formerly known as Hexagon Polymers AB and changed its name to HEXPOL AB (publ) in May 2008. HEXPOL AB (publ) was founded in 1893 and is headquartered in Malmö, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HEXPOL AB reported revenue of 19.3B SEK in FY2025 versus 16.0B SEK in FY2021, a compound +4.8%/yr. Reported net income was 1.9B SEK in FY2025, compounding −4.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
19.3B SEK
Latest YoY
−5.4%
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.
−4.6%
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.
+7.6%
Avg. revenue growth/yr (20Y) 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.
+11.5%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+9.1% · in SEK
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+4.7%
Dividend yield4.4%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 4.7% vs 10Y 3.4%, steady
Operating margin (EBIT) 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.14.4% (2020) → 14.4% (2025) · steady
Worst earnings drop45% (2009) · in SEK
Revenue +4.8%/yr
FY21 16.0B SEK
FY22 22.2B SEK
FY23 22.0B SEK
FY24 20.4B SEK
FY25 19.3B SEK
Net income −4.7%/yr
FY21 2.4B SEK
FY22 2.5B SEK
FY23 2.5B SEK
FY24 2.2B SEK
FY25 1.9B SEK
Character of growth · EPS growth decomposed (2014-2025) +6.4 % p.a.
Revenue per share +7.9 %

of which total revenue +8.0 % · buybacks/dilution +0.0 %

EBIT margin −1.2 %
Tax rate +0.3 %
Residual (interest, one-offs) −0.5 %

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).

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Cite: Fair Value Calculator (2026). "HEXPOL AB Fair Value". https://www.fairvalue-calculator.com/stock/HPOL-B

Peer Group

Specialty Chemicals · 695 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 61 · Above median
Fair Value upside −4% · Above median
Return on equity (TTM) 12% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 10% · Above median
Operating margin (TTM) 15% · Top 25%
Revenue growth −11% · Bottom 25%
Dividend yield (TTM) 4.4% · Top 25%

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 13.9× · Cheaper than 75% of peers
P/B 1.76× · Cheaper than median
P/S (TTM) 1.32× · Pricier than median
P/FCF 1.1× · Cheaper than median
EV/EBITDA 7.5× · Cheaper than median
PEG 2.73× · Pricier than 75% of peers

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
VALUE28 · sector 0
FUTURE0 · sector 20
PAST49 · sector 23
HEALTH100 · sector 95
DIVIDEND88 · sector 28

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).

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500820 500820 ₹2,757 ₹557.43 −80%
Novozymes A/S NSISB kr 456.40 kr 169.99 −63%
Asian Paints Limited ASIANPAINT ₹2,630 ₹696.23 −74%
PPG Industries, Inc PPG $114.22 $71.31 −38%

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Frequently asked questions

Is HEXPOL AB (HPOL-B) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of kr 92.37 versus a price of kr 95.95, about −4% upside (fairly valued).
What is the fair value of HPOL-B?
Our model-based fair value for HEXPOL AB is kr 92.37 (as of Sep 3, 2026), built from audited fundamentals. The current price: kr 95.95.
What is the quality score of HPOL-B?
HEXPOL AB has a Quality Score of 61/100. 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 HEXPOL AB (HPOL-B)?
HEXPOL AB reported trailing-twelve-month revenue of about 18.7B SEK (latest available figure, as of Sep 3, 2026).
What is the net profit margin of HPOL-B?
The net profit margin of HEXPOL AB is about 9.9%, meaning it keeps roughly 9.9% of revenue as net income. Based on the latest reported figures.
Does HEXPOL AB pay a dividend?
HEXPOL AB currently shows a dividend yield of about 4.38% relative to its recent price (as of Sep 3, 2026).
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