Investor AB ser. B (INVE-B) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Investor AB ser. B stock SEK 305, price SEK 430, that is 29.0% below the price, quality 69 out of 100. Rating: overvalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range kr 148.00 – kr 434.40 · fair‑value band kr 228.70 – kr 381.16 · the kr 429.60 price screens above the kr 304.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Investor AB (publ) is a private equity firm specializing in mature, middle market, buyouts and growth capital investments.
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For core investments, the firm invests in health care, financial services, IT and fintech sectors, life sciences, mathematics, data, materials science, AI, quantum technology and considers investments in listed companies in leading minority positions. The firm seeks to invest globally.
For its operating investments, the firm seeks to focus on medium-sized to large companies headquartered in Northern Europe.
It prefers to invests in North Africa, Sub-Saharan Africa, Asia-Pacific, Channel Island, Greenland, The Faroe Islands, Finland, Iceland, Ireland, Jan Mayen, Svalbard, Sweden, Isle of Man, Estonia, Latvia, Lithuania, Great Lakes, Mountain, Latin America and Caribbean region.
It seeks to invest between $200 million and $700 million. The firm considers majority or minority investments in both listed and unlisted companies. It acquires controlling interest or minority position with significant influence in its portfolio companies within operating investments.
For financial investments, it acquires minority ownership in financial holdings for shorter horizon. The firm seeks to exit its private equity investments between three years and seven years. The firm seeks to take board membership in its portfolio companies.
Investor AB (publ) was founded in 1916 and is based in Stockholm, Sweden.
Stock analysis
Investor AB ser. B (INVE-B) currently trades at kr 429.60, while our model-based Fair Value estimate is kr 304.93, 29% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at high.
Scenario range: kr 228.70 (bear) to kr 381.16 (bull), the price of kr 429.60 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 69/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Investor AB ser. B reported revenue of 222B SEK in FY2025 versus 265B SEK in FY2021, a compound −4.4%/yr. Reported net income was 157B SEK in FY2025, compounding −8.8%/yr from FY2021.
Key figures
Market cap 1.3T SEK (≈ $134B) Large · P/E ratio 5.9 · P/S ratio 4.66 · EPS (TTM) kr 70.04 · Dividend yield 1.3% · Net margin 76.0% · Return on equity 21.5% · Return on assets (EBIT) 11.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 86 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 41% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −18% fair-value upside, at −29%, INVE-B screens richer than that median.
Fair Value models
Bearkr 228.70Fair Value kr 304.93Bullkr 381.16
Price kr 429.60 · Downside -29.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 55.44 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+28.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+20.2%
Start year 2020 (pandemic). Over 10 years: +18.1% a year
Revenue growth 23 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+21.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+10.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.2%
Dividend (yield on the price)1.3%
Pace: 5 vs 10 years ⓘ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.9.2% vs 16.7%, slowing
Profit margin 2020 to 2025 ⓘ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.60% → 71%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+30.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +28.0% a year for the price.
News mood ⓘNews mood, the average tone of recent news (75 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: The business draws strength from double-digit sales and profit growth in unlisted subsidiaries, yet its main weak point remains limited public evidence on moat durability and innovation.
Main risk: Nimble competitors could develop solutions that make core processes in holdings such as ABB or Atlas Copco obsolete before adaptation occurs, hitting portfolio returns and NAV growth.
Bull case: Investor could leverage its long-term ownership and Wallenberg ecosystem to accelerate AI adoption across holdings like ABB, turning industrial data advantages into stronger moats and sustained NAV growth.
Bear case: If portfolio companies lag in AI adaptation or face intensified competition and concentration drags, unlisted restructuring could underperform while listed swings amplify NAV volatility and limit growth.
Investor AB's unlisted Patricia Industries delivered a 15 percent total return in the third quarter, driven by double-digit sales and profit growth at its major subsidiaries. Listed holdings, by contrast, returned just 1 percent over the same period. Will the private portfolio's momentum continue to lift overall results, or will the listed side increasingly set the pace?
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Asset Management · 656 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside−29.0% · Bottom 25%
Profitability
Return on equity (12 months)21.5% · Top 25%
Return on assets14.3% · Top 25%
Net margin (12 months)76.0% · Top 25%
Operating margin (12 months)48.5% · Above median
Growth and dividend
Revenue growth (quarter YoY)−60.8% · Bottom 25%
Dividend yield (12 months)1.3% · Bottom 25%
Balance sheet
Debt / equity0.12× · Above median
Valuation Multiplesvs Asset Management median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Investor AB ser. B Fair Value". https://www.fairvalue-calculator.com/stock/INVE-B
Frequently asked questions
Is Investor AB ser. B (INVE-B) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of kr 304.93 versus a price of kr 429.60, about 29% lower (overvalued).
What is the fair value of INVE-B?
Our model-based fair value for Investor AB ser. B is kr 304.93 (as of Nov 8, 2026), built from audited fundamentals. The current price: kr 429.60.
What is the quality score of INVE-B?
Investor AB ser. B has a Quality Score of 69/100. 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 price target for Investor AB ser. B (INVE-B)?
Our model-based price target is the fair value of kr 304.93 (as of Nov 8, 2026) from 2 valuation models. Cautious scenario kr 228.70, optimistic scenario kr 381.16. It is a calculation from audited fundamentals, not an analyst target.
What is the Investor AB ser. B stock forecast for 2026?
Our models put fair value at kr 304.93, about 29% lower versus a price of kr 429.60 (overvalued). Cautious scenario kr 228.70, optimistic scenario kr 381.16. The calculation is refreshed regularly with new filings.
What is the revenue of Investor AB ser. B (INVE-B)?
Investor AB ser. B reported trailing-twelve-month revenue of about 282B SEK (latest available figure, as of Nov 8, 2026).
Does Investor AB ser. B pay a dividend?
Investor AB ser. B currently shows a dividend yield of 1.30% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Investor AB ser. B (INVE-B) and when is the ex-dividend date?
Investor AB ser. B pays a dividend of kr 5.60 per share a year, a dividend yield of 1.3%. The last ex-dividend date was Nov 6, 2026. A dividend has been paid every year since at least 1990. The payout ratio is 8.0% of earnings. Free cash flow covers the dividend 1.87 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Investor AB ser. B (INVE-B)?
For today's price to be fair in a discounted-cash-flow model, Investor AB ser. B would have to grow free cash flow by +30.6 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +20.2 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of INVE-B use?
Our models discount Investor AB ser. B at 8.5 %: a base by market capitalisation (large), damped by beta 0.76, country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Investor AB ser. B that is +30.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has Investor AB ser. B (INVE-B) delivered so far?
Over the past 5 years revenue at Investor AB ser. B grew +20.2 % a year. The price currently implies free-cash-flow growth of +30.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Investor AB ser. B (INVE-B) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Investor AB ser. B (+30.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Investor AB ser. B (INVE-B)?
The free-cash-flow yield on the price is 1.44 %: that much free cash flow Investor AB ser. B produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Investor AB ser. B (INVE-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Investor AB ser. B it is kr 304.93 per share (as of Nov 8, 2026), against a price of kr 429.60. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is Investor AB ser. B stock overvalued or undervalued in 2026?
As of Nov 8, 2026, INVE-B trades above its calculated fair value: price kr 429.60, fair value kr 304.93, a gap of about −29% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of INVE-B?
No. The price is what the market pays today (kr 429.60); the fair value is what the company's own numbers justify (kr 304.93). For Investor AB ser. B the two are kr 124.67 per share apart. That gap is exactly why we show both numbers side by side.
How much is Investor AB ser. B worth?
The market values Investor AB ser. B at about 1.3T SEK (market capitalisation, as of Nov 8, 2026). Per share that is kr 429.60; our models calculate a fair value of kr 304.93 per share.
What do the bullish and bearish scenarios say about INVE-B?
Our models span a range for Investor AB ser. B: cautious scenario kr 228.70, base kr 304.93, optimistic kr 381.16 per share (as of Nov 8, 2026, price kr 429.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of INVE-B?
Investor AB ser. B trades at a price-to-earnings ratio of 5.9 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 304.93 is built from several models across several years. Other multiples: PEG 5.1, P/B 1.4, P/S 4.7, EV/EBITDA 6.2.
What is the PEG ratio of INVE-B?
The PEG ratio of Investor AB ser. B is 5.08 (P/E divided by earnings growth, as of Nov 8, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Investor AB ser. B (INVE-B)?
Balance-sheet figures for Investor AB ser. B (as of Nov 8, 2026): return on equity 21.5%, debt of 0.12 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is INVE-B from its 52-week high?
Investor AB ser. B trades at kr 429.60, about 1% below its 52-week high of kr 434.40 and 41% above the low of kr 304.61 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of kr 304.93 is for.
Which stocks are comparable to Investor AB ser. B?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Asset Management Ltd, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Investor AB ser. B stock attractive at the current price?
The data as of Nov 8, 2026: price kr 429.60, calculated fair value kr 304.93 (−29%), Quality Score 69/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of INVE-B calculated?
We run Investor AB ser. B through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of kr 304.93 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.7% above its aggregate fair value. Investor AB ser. B itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Investor AB ser. B (INVE-B)?
The closing price on Nov 9, 2026 was kr 429.60. Our model-based fair value is kr 304.93, about 29% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Investor AB ser. B right now?
The price sits above even our optimistic bull case (kr 381.16). The favourable scenario is already priced in. Solid but not exceptional quality (69/100) 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.
Where does the earnings growth of Investor AB ser. B (INVE-B) come from?
Earnings per share at Investor AB ser. B grew +16.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +13.8 %, EBIT margin +1.5 %, tax rate +0.0 %, residual (interest, one-offs) +0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Investor AB ser. B
How large is the market capitalisation of Investor AB ser. B (INVE-B)?
The market capitalisation of Investor AB ser. B is 1.3T SEK (≈ $134B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Investor AB ser. B (INVE-B)?
The price-to-sales ratio of Investor AB ser. B is 4.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Investor AB ser. B (INVE-B)?
Earnings per share at Investor AB ser. B are kr 70.04 (price ÷ EPS = P/E 5.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Investor AB ser. B (INVE-B)?
The dividend yield of Investor AB ser. B is 1.3% (payout 8.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Investor AB ser. B (INVE-B)?
The net margin of Investor AB ser. B is 76.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Investor AB ser. B (INVE-B)?
The return on equity (ROE) of Investor AB ser. B is 21.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Investor AB ser. B (INVE-B)?
On an EBIT basis the return on assets of Investor AB ser. B is 11.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Investor AB ser. B (INVE-B)?
The operating margin of Investor AB ser. B is 48.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Investor AB ser. B (INVE-B)?
Revenue at Investor AB ser. B is growing −60.8% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Investor AB ser. B (INVE-B)?
Earnings per share at Investor AB ser. B are growing −80.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Investor AB ser. B (INVE-B) carry?
The net debt of Investor AB ser. B is 95.0B SEK (fiscal year 2025, ≈ 5.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 8, 2026