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Idun Industrier AB (IDUN-B) Fair Value & Analysis

Financial Services · SE · Market cap 3.5B SEK (≈ $365M) · ISIN SE0013512464

What is Idun Industrier AB really worth?

II Idun Industrier AB IDUN-B · ST
Pricekr 310.00
Fair Valuekr 98.50
Upside−68.2%
Quality46/100

Below-average quality, and trading another 215% above our fair value of kr 98.50.

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Strengths

Healthy Growth (revenue 5y +27.6 %/yr)
Moderate debt · generates free cash flow

Risks

!Thin margins · 2.5% net margin
!Trails peers (5/14)
!Narrow moat 36/100
!Evidence only medium, so the estimate is less certain
!Weak on balance sheet: 27 out of 100
!Weak on dividend: 7 out of 100

For context

·0.37% dividend yield
Evidence: Medium Range kr 73.88 – kr 123.13

Fair value as of: Aug 13, 2026

From 11 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from kr 79.74 to kr 98.50 (+23.5%) since Jul 14, 2026. Share price −6.3% 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 above even our optimistic bull case (kr 123.13). The favourable scenario is already priced in.
  • Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

kr 389.54 kr 148.44 Fair Value kr 98.50 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range kr 148.44 – kr 389.54 · fair‑value band kr 73.88 – kr 123.13 · the kr 310.00 price screens above the kr 98.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Idun Industrier AB (IDUN-B) currently trades at kr 310.00, while our model-based Fair Value estimate is kr 98.50, implying the stock looks roughly 214.8% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Financial Services sector. Bull case: the Growth DCF group reads highest at a median of kr 267.40 per share, and 1 of the 11 models we run sit above the kr 310.00 price. Bear case: the Asset-Based group reads lowest at kr 35.38, and 10 of the 11 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Idun Industrier AB generated revenue of 2.4B SEK at a net margin of 2.5%. Revenue grew 15.8% year over year. It earns a return on equity of 9.7%. Net debt stands at 835M SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 73.88 (bear case) to kr 123.13 (bull case); at kr 310.00, 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 22% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −68%, IDUN-B screens richer 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 2.81 per share, which is 2.9 % 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
Residual Income best evidence kr 44.36 kr 48.05 kr 59.89 75
Growth DCF kr 131.85 kr 302.87 kr 620.88 71
Owner Earnings kr 136.60 kr 379.74 kr 871.41 68
All 11 models by family
DCF Models
Owner Earnings kr 136.60 kr 379.74 kr 871.41 68
5Y P/E Exit kr 47.79 kr 137.44 kr 248.86 65
10Y P/E Exit kr 75.95 kr 177.41 kr 341.61 59
Earnings-Based
Graham-Dodd kr 31.90 kr 222.44 kr 312.16 60
Lynch FV kr 67.70 kr 96.72 kr 125.74 58
Multiples
P/E Multiple kr 73.88 kr 98.50 kr 123.13 61
P/B Multiple kr 59.81 kr 79.74 kr 99.68 53
Asset-Based
NCAV (Graham) kr 26.41 kr 35.38 kr 52.81 52
Growth DCF
Growth DCF kr 131.85 kr 302.87 kr 620.88 71
Rev-Margin DCF kr 105.87 kr 267.40 kr 510.27 67
Economic Profit
Residual Income best evidence kr 44.36 kr 48.05 kr 59.89 75

Widest divergence: Growth DCF (kr 267.40) versus Asset-Based (kr 35.38). Highest evidence: Residual Income (75).

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Key figures & financial health

P/E ratio 57.2 as of Jul 14, 2026
P/S ratio 1.34 P/E × margin
EPS (TTM) kr 5.30 price ÷ EPS = P/E 57.2
Dividend yield 0.4% payout 21.7%
Net margin 2.3% FY2025
Return on equity 9.7% TTM
More key figures
Profitability
Return on assets (EBIT) 7.3% avg 5y
Operating margin 8.0% TTM
Growth
Revenue (TTM) 2.4B SEK TTM
Revenue growth (YoY) +15.8% 3y avg +10.9%
EPS growth (YoY) +64.3%
Balance sheet & cash flow
Free cash flow 157M SEK FY2025
Net debt 835M SEK FY2025 · ≈ 5.3 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 46 · Market factors (momentum, volatility) 43

Profitability 35
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 40
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

Idun Industrier AB (publ), an investment holding company, invests in and develops industrial and service businesses in Sweden, rest of Nordic countries, rest of Europe, and internationally.

Full company description

Idun Industrier AB (publ), an investment holding company, invests in and develops industrial and service businesses in Sweden, rest of Nordic countries, rest of Europe, and internationally. It offers safety and evaluator services; glass fiber reinforced fat- and oil separators; stainless-steel furnishings, kitchen machines, and related equipment, as well as stoves, heating cabinets, heaters, cookers, dispensers, air purification systems, and ovens; and coffins and urns. The company is also involved in the trading of concrete separators; preventive maintenance services of high-voltage substations; distribution of mechanical components and machine parts; and measurements and analyses of air and flue gas. In addition, it provides load attachments to grip, cut, saw, or weigh loads; actuators for vehicle mounted tail lifts; micronutrients and fertilizers to commercial greenhouse growers, farmers, golf courses, and peat producers; analysis of soil, water, and plant sap; and sports and training water bottles. Further, the company offers learning and competence management tools for industrial companies and vocational upper secondary school programs; manufactures and supplies wooden workbenches and cabinets for primary schools; acquires and develops small and medium sized quality companies; and provides maintenance of pumps, pipes, composite coatings, and seals for heavy industry, water towers, water and sewerage facilities, and heating and power plants. Additionally, it engages in the provision of technical advice, design, and manufacturing of rollers for industrial companies; manufacture of small and medium sized turbines, as well as provides maintenance and refurbishment services for renewable hydropower installations; and development, optimization, and sale of technical components and products. Idun Industrier AB (publ) was incorporated in 2013 and is based in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Idun Industrier AB reported revenue of 2.3B SEK in FY2025 versus 1.2B SEK in FY2021, a compound +18.6%/yr. Reported net income was 54.0M SEK in FY2025, compounding +14.4%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.3B SEK
Latest YoY
+4.5%
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.
+10.9%
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.
+27.6%
Avg. revenue growth/yr (10Y) 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.
+30.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
≈ +32.8% (approximate, leans on 2025) · in SEK
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+32.4%
Dividend yield0.4%
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 23.1% vs 10Y −12.7%, picking up
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.6.2% (2020) → 8.1% (2025) · rising
Worst earnings drop143% (2019) (loss year, drop beyond 100%) · in SEK
⚠ Revenue per share shrinking 12.1%/yr over ~8Y (margins intact) Structural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Final year 2025 sits 67% above its own trend (e.g. a one-off disposal gain), so this rate uses the operating basis instead of reported profit
Revenue +18.6%/yr
FY21 1.2B SEK
FY22 1.7B SEK
FY23 2.1B SEK
FY24 2.2B SEK
FY25 2.3B SEK
Net income +14.4%/yr
FY21 31.5M SEK
FY22 35.7M SEK
FY23 28.3M SEK
FY24 30.7M SEK
FY25 54.0M SEK
Character of growth · EPS growth decomposed (2015-2025) −17.9 % p.a.
Revenue per share −15.0 %

of which total revenue +29.8 % · buybacks/dilution −34.6 %

EBIT margin −1.7 %
Tax rate −2.8 %
Residual (interest, one-offs) +1.1 %

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).

IDUN-B screens 215% overvalued. Compare with Blackstone Inc →

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

Peer Group

Asset Management · 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 46 · Bottom 25%
Fair Value upside −68% · Bottom 25%
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 8% · Below median
Revenue growth 16% · Above median
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 1.45× · Higher than 75% of peers

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 57.2× · Pricier than 75% of peers
P/B 5.74× · Pricier than 75% of peers
P/S (TTM) 1.46× · Cheaper than 75% of peers
P/FCF 2.3× · Cheaper than median
EV/EBITDA 11.1× · Pricier than median

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
VALUE0 · sector 40
FUTURE79 · sector 15
PAST39 · sector 24
HEALTH27 · sector 95
DIVIDEND7 · sector 81

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

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $142.39 $52.88 −63%
Investor AB INVEB kr 417.20 kr 824.66 +98%
Brookfield Corporation BN C$55.74 C$10.67 −81%
KKR & Co KKR $108.68 $19.97 −82%
Apollo Global Management, Inc APO $135.04 $101.04 −25%
State Street Corporation STT $193.33 $138.33 −28%
Ameriprise Financial, Inc AMP $559.32 $515.24 −8%
Ares Management Corporation ARES $143.10 $30.88 −78%
Northern Trust Corporation NTRS $186.79 $122.02 −35%
Raymond James Financial, Inc RJF $181.10 $142.42 −21%

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Frequently asked questions

Is Idun Industrier AB (IDUN-B) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 98.50 versus a price of kr 310.00, about −68% upside (overvalued).
What is the fair value of IDUN-B?
Our model-based fair value for Idun Industrier AB is kr 98.50 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 310.00.
What is the quality score of IDUN-B?
Idun Industrier AB has a Quality Score of 46/100. 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 Idun Industrier AB (IDUN-B)?
Idun Industrier AB reported trailing-twelve-month revenue of about 2.4B SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of IDUN-B?
The net profit margin of Idun Industrier AB is about 2.5%, meaning it keeps roughly 2.5% of revenue as net income. Based on the latest reported figures.
Does Idun Industrier AB pay a dividend?
Idun Industrier AB currently shows a dividend yield of about 0.37% relative to its recent price (as of Aug 13, 2026).
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