Hultstrom Group (HULT-B) Fair Value & Analysis
Industrials · SE · Market cap 234M SEK (≈ $24.5M) · ISIN SE0000483943
What is Hultstrom Group really worth?
A solid business, trading 18% below our fair value of kr 4.67.
Strengths
Risks
For context
Fair value as of: Aug 25, 2026
From 24 valuation models · updated 11 days ago
Share price −3.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 25, 2026.
How to read this chart
60‑month range kr 1.71 – kr 3.99 · fair‑value band kr 3.50 – kr 5.84 · the kr 3.81 price screens below the kr 4.67 fair value. Dashed = 300-day average. As of Aug 25, 2026.
Analysis
Hultstrom Group (HULT-B) currently trades at kr 3.81, while our model-based Fair Value estimate is kr 4.67, implying the stock looks roughly 18.4% undervalued today. The Quality Score stands at 67/100 (solid quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of kr 4.67 per share, and 13 of the 24 models we run sit above the kr 3.81 price. Bear case: the Asset-Based group reads lowest at kr 1.00, and 11 of the 24 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Hultstrom Group generated revenue of 315M SEK at a net margin of 4.7%. Revenue grew 5.4% year over year. It earns a return on equity of 15.7%. Net debt stands at 11.9M SEK. Fundamentals as of Aug 25, 2026
Our scenario range runs from kr 3.50 (bear case) to kr 5.84 (bull case); at kr 3.81, 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 1% below its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 23%, HULT-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 0.0883 per share, which is 1.9 % 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 24 models by family
Widest divergence: Multiples (kr 4.67) versus Asset-Based (kr 1.00). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 25, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 67
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
Hultstrom Group AB (publ) provides project management and consulting services in Sweden, rest of Europe, Asia, and Africa. It offers advisory services in the real estate and civil engineering industry. Hultstrom Group AB (publ) was formerly known as Hifab Group AB (publ) and changed its name to Hultstrom Group AB (publ) in November 2025.
Full company description
Hultstrom Group AB (publ) provides project management and consulting services in Sweden, rest of Europe, Asia, and Africa. It offers advisory services in the real estate and civil engineering industry. Hultstrom Group AB (publ) was formerly known as Hifab Group AB (publ) and changed its name to Hultstrom Group AB (publ) in November 2025. The company was founded in 1947 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2025 · reported fiscal years
Hultstrom Group reported revenue of 310M SEK in FY2025 versus 296M SEK in FY2022, a compound +1.6%/yr. Reported net income was 13.2M SEK in FY2025, compounding +65.1%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
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Peer Group
Engineering & Construction · 817 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 Engineering & Construction 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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 25, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Quanta Services, Inc PWR | $620.06 | $143.92 | −77% |
| Vinci SA DG | €114.35 | €185.62 | +62% |
| Comfort Systems USA, Inc FIX | $1,615 | $519.97 | −68% |
| Larsen & Toubro Limited LT | ₹4,072 | ₹2,196 | −46% |
| Ferrovial N.V FER | €57.28 | €19.17 | −67% |
| HOCHTIEF Aktiengesellschaft HOT | €426.40 | €203.87 | −52% |
| Samsung C&T Corporation 028260 | 373,000 KRW | 261,411 KRW | −30% |
| EMCOR Group EME | $775.04 | $549.47 | −29% |
| MasTec, Inc MTZ | $241.00 | $100.00 | −59% |
| Bouygues SA EN | €46.65 | €65.67 | +41% |
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