Instalco AB (INSTAL) Fair Value & Analysis

Industrials · SE · Market cap 10.0B SEK

A solid business, but screening 29% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (kr 33.54). The favourable scenario is already priced in.
• Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range kr 21.60 – kr 91.06 · fair‑value band kr 20.12 – kr 33.54 · the kr 37.78 price screens above the kr 26.83 fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Instalco AB (INSTAL) currently trades at kr 37.78, while our model-based Fair Value estimate is kr 26.83, implying the stock looks roughly 29.0% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Industrials 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, Instalco AB generated revenue of 13.7B SEK at a net margin of 2.8%. Revenue grew 4.4% year over year. It earns a return on equity of 11.8%. Net debt stands at 310M SEK. Fundamentals as of Jul 14, 2026

Our scenario range runs from kr 20.12 (bear case) to kr 33.54 (bull case); at kr 37.78, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 5% below its 52-week high and 77% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -29%, INSTAL 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.

Widest divergence: DCF Models (kr 55.25) versus Economic Profit (kr 5.78). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Instalco AB (publ) provides planning and installation services in the electrical, heating and plumbing, ventilation, technical, consulting, and industrial areas in Sweden and rest of the Nordics.

Full company description

Instalco AB (publ) provides planning and installation services in the electrical, heating and plumbing, ventilation, technical, consulting, and industrial areas in Sweden and rest of the Nordics. The company engages in energy storage and efficiency, construction, project planning, assembly, alarms and monitoring, data networks and control of technical equipment, energy optimization, charging ports for electric vehicles, remote reading, control technology, service and maintenance, and marine installations. It also provides heating and plumbing services, including installation of district heat, natural gas, heat pumps, and comfort cooling; pipe replacement and preventative maintenance; water treatment and water consumption optimization; sprinkler systems; new construction; ongoing repairs; conversions and extensions; project planning; control and regulation technology solutions; and energy efficiency measures services. In addition, the company offers ventilation services, such as installation and solutions for indoor climate, air treatment, and mandatory ventilation inspection; automation building; and control technology. Further, it engages in the provision of pipe and mechanical installation, cooling and electric power installation, infrastructure, automation, instrumentation, exhaust gas treatment, ballast water management, energy, safety, industrial scaffolding and weather protection, compressors, composite solutions, steel assembly, ground and mining services; and technical consulting services. The company serves construction companies, trusts, property owners, government agencies, municipalities and regions; housing, real estate, industrial, fishing, electricity and power, mining, shipping, maritime transportation, installation, energy, and industrial construction companies; and other industries. Instalco AB (publ) was founded in 2013 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Instalco AB reported revenue of kr 13.6B in FY2025 versus kr 8.9B in FY2021, a compound +11.2%/yr. Reported net income was kr 343M in FY2025, compounding −11.0%/yr from FY2021.

INSTAL screens 29% overvalued. Compare with Larsen & Toubro Limited →

Peer Group

Engineering & Construction · 837 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

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: 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.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

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.