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ITAB Group (ITAB) Fair Value & Analysis

Industrials · SE · Market cap 4.0B SEK

IG ITAB Group ITAB · ST
Pricekr 14.96
Fair Valuekr 9.16
Upside-38.8%
Quality37/100
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Healthy Growth
Thin margins · 1.2% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (7/14)
Narrow moat 31/100
Evidence: High Range kr 6.87 – kr 11.45 Share as image

Fair value as of: Jul 16, 2026

From 24 valuation models · updated 25 days ago

Share price −4.0% over the past month.

Below-average quality, and screening another 39% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 11.45). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

kr 30.20 kr 7.09 Fair Value kr 9.16 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 7.09 – kr 30.20 · fair‑value band kr 6.87 – kr 11.45 · the kr 14.96 price screens above the kr 9.16 fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

ITAB Group (ITAB) currently trades at kr 14.96, while our model-based Fair Value estimate is kr 9.16, implying the stock looks roughly 38.8% overvalued today. The Quality Score stands at 37/100 (below-average 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, ITAB Group generated revenue of 12.9B SEK at a net margin of 1.2%. Revenue grew 3.7% year over year. It earns a return on equity of 4.3%. Net debt stands at 3.8B SEK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 6.87 (bear case) to kr 11.45 (bull case); at kr 14.96, 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 40% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -57% fair-value upside, at -39%, ITAB 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.

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
Growth DCF kr 28.94 kr 53.97 kr 93.76 80
Residual Income kr 11.70 kr 11.31 kr 9.43 76
Rev-Margin DCF kr 18.07 kr 34.19 kr 54.81 74
All 24 models by family
DCF Models
FCF DCF kr 29.21 kr 56.56 kr 101.65 38
Owner Earnings kr 7.15 kr 18.23 kr 36.50 31
5Y Revenue Exit kr 18.07 kr 34.27 kr 55.63 39
5Y EBITDA Exit kr 29.76 kr 58.10 kr 93.26 41
5Y P/E Exit kr 9.53 kr 16.85 kr 24.62 38
10Y Revenue Exit kr 20.98 kr 37.35 kr 61.26 36
10Y EBITDA Exit kr 29.19 kr 54.32 kr 91.72 37
10Y P/E Exit kr 16.14 kr 24.95 kr 36.15 35
Earnings-Based
Graham-Dodd kr 3.49 kr 15.57 kr 21.34 54
Lynch FV kr 4.05 kr 5.78 kr 7.52 50
PEG = 1.0 kr 4.05 kr 5.78 kr 7.52 46
EPV kr 6.17 kr 8.38 kr 10.29 59
Multiples
P/E Multiple kr 8.08 kr 10.78 kr 13.47 63
P/S Multiple kr 6.54 kr 8.72 kr 10.90 58
P/B Multiple kr 6.54 kr 8.72 kr 10.90 55
EV/EBIT kr 21.10 kr 30.76 kr 40.42 53
EV/EBITDA kr 33.54 kr 47.34 kr 61.14 54
EV/Revenue kr 12.81 kr 21.67 kr 30.53 43
Asset-Based
NCAV (Graham) kr 8.18 kr 10.96 kr 16.35 50
Growth DCF
Growth DCF kr 28.94 kr 53.97 kr 93.76 80
Rev-Margin DCF kr 18.07 kr 34.19 kr 54.81 74
Economic Profit
Residual Income kr 11.70 kr 11.31 kr 9.43 76
ROIC Compounder kr 6.17 kr 8.38 kr 10.29 72
Growth Earnings
Growth-Adj P/E kr 6.61 kr 9.45 kr 12.28 68

Widest divergence: DCF Models (kr 34.27) versus Earnings-Based (kr 5.78). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 12.9B SEK
Revenue growth (YoY) +3.7%
Net margin 1.2%
Return on equity 4.3%
Free cash flow 785M SEK FY2025
P/E ratio 23.2
More key figures
Operating margin 4.9%
EPS (TTM) kr 0.6300
EPS growth (YoY) +81.9%
Net debt 3.8B SEK FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 40 · Market factors (momentum, volatility) 30

Profitability 37
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 47
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 14
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.

About the company

ITAB Group AB (publ) develops, manufactures, sells, and installs store concepts for retail chain stores. The company provides solution design, customized shop fittings, checkouts, consumer flow solutions, professional lighting systems, light planning, audio systems and energy reduction service and digitally interactive solutions for the physical stores.

Full company description

ITAB Group AB (publ) develops, manufactures, sells, and installs store concepts for retail chain stores. The company provides solution design, customized shop fittings, checkouts, consumer flow solutions, professional lighting systems, light planning, audio systems and energy reduction service and digitally interactive solutions for the physical stores. It offers checkouts and self-service systems; click and collect, an automated and convenient online delivery option; consumer and colleague safety systems; consumer interaction systems; security gates for entrance and exit; queue management systems; standard fittings and accessories; and retail lighting products. The company also provides solution design; services to consolidate goods not for resale; installation and assembly services for retail concepts; and after-care and maintenance services. It serves grocery, home improvements, fashion, consumer electronics, cafes and service stations, pharmacy, and health and beauty sectors. The company operates in Italy, the United Kingdom, Germany, Norway, Finland, Sweden, the Netherlands, France, Czechia, Denmark, Poland, Argentina, Spain, Slovakia, the United States, and internationally. The company was formerly known as ITAB Shop Concept AB (publ) and changed its name to ITAB Group AB (publ) in May 2026. The company was incorporated in 1987 and is headquartered in Jönköping, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ITAB Group reported revenue of kr 12.8B in FY2025 versus kr 6.2B in FY2021, a compound +19.6%/yr. Reported net income was kr 131M in FY2025, compounding +8.4%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
12.8B SEK
Latest YoY
+94.1%
Avg. 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.
+23.0%
Avg. 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.
+19.1%
Avg. growth/yr (22Y) 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.
+13.8%
Revenue +19.6%/yr
FY21 kr 6.2B
FY22 kr 6.9B
FY23 kr 6.1B
FY24 kr 6.6B
FY25 kr 12.8B
Net income +8.4%/yr
FY21 kr 95.0M
FY22 kr 243M
FY23 kr 270M
FY24 kr 311M
FY25 kr 131M
Character of growth · EPS growth decomposed (2014-2025) +0.4 % p.a.
Revenue per share +8.2 pp

of which total revenue +6.4 pp · buybacks/dilution +1.8 pp

EBIT margin −3.9 pp
Tax rate −1.6 pp
Residual (interest, one-offs) −2.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

ITAB screens 39% overvalued. Compare with Ricoh Company →

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Cite: Fair Value Calculator (2026). "ITAB Group Fair Value". https://www.fairvalue-calculator.com/stock/ITAB

Peer Group

Business Equipment & Supplies · 72 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 37 · Bottom 25%
Fair Value upside −39% · Below median
Return on equity (TTM) 4% · Below median
Return on assets 3% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth 4% · Above median
Debt / equity 0.71× · Higher than 75% of peers

Valuation Multiples vs Business Equipment & Supplies median · lower = cheaper

P/E (TTM) 24.7× · Pricier than median
P/B 0.95× · Cheaper than median
P/S (TTM) 0.31× · Cheaper than median
P/FCF 0.5× · Cheaper than median
EV/EBITDA 6.8× · Cheaper than median
PEG 2.25× · Pricier than 75% of peers

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 · sector 33
FUTURE 19 · sector 18
PAST 17 · sector 21
HEALTH 64 · sector 99
DIVIDEND 0 · sector 52

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

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

Similar stocks

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XGD Inc 300130 ¥19.90 ¥15.67 -21%
DOMS Industries Limited DOMS ₹2,260 ₹782.96 -65%
Hengbao Co 002104 ¥9.20 ¥1.66 -82%
Shaanxi Fenghuo Electronics Co 000561 ¥6.99 ¥1.75 -75%
Shenzhen Comix Group 002301 ¥7.30 ¥3.11 -57%
Shandong New Beiyang Information Technology Co 002376 ¥6.00 ¥1.73 -71%
Cashway Fintech Co 603106 ¥9.04 ¥1.20 -87%

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Frequently asked questions

Is ITAB Group (ITAB) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 9.16 versus a price of kr 14.96, about −39% (overvalued).
What is the fair value of ITAB?
Our model-based fair value for ITAB Group is kr 9.16 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 14.96.
What is the quality score of ITAB?
ITAB Group has a Quality Score of 37/100. 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 ITAB Group (ITAB)?
ITAB Group reported trailing-twelve-month revenue of about 12.9B SEK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of ITAB?
The net profit margin of ITAB Group is about 1.2%, meaning it keeps roughly 1.2% of revenue as net income. Based on the latest reported figures.

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.

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