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KABE Group (KABE-B) Fair Value & Analysis

Consumer Cyclical · SE · Market cap 1.7B SEK (≈ $181M) · ISIN SE0000107724

What is KABE Group really worth?

KG KABE Group KABE-B · ST
Pricekr 247.00
Fair Valuekr 199.05
Upside−19.4%
Quality55/100

A solid business, but trading 24% above our fair value of kr 199.05.

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Strengths

Low debt · generates free cash flow
Ranks above peers (9/15)

Risks

!Weak Growth (revenue 5y +8.5 %/yr)
!Thin margins · 3.2% net margin
!Narrow moat 40/100
!Weak on valuation: 7 out of 100
!Weak on past: 22 out of 100

For context

·1.62% dividend yield
Evidence: High Range kr 149.29 – kr 248.81

Fair value as of: Sep 5, 2026

From 25 valuation models · updated today

Share price +18.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The price sits in the upper half of our model range, so the margin of safety is thin.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

kr 381.24 kr 147.03 Fair Value kr 199.05 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range kr 147.03 – kr 381.24 · fair‑value band kr 149.29 – kr 248.81 · the kr 247.00 price screens above the kr 199.05 fair value. Dashed = 300-day average. As of Sep 5, 2026.

Full chart & analysis →

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Analysis

KABE Group (KABE-B) currently trades at kr 247.00, while our model-based Fair Value estimate is kr 199.05, implying the stock looks roughly 24.1% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of kr 278.96 per share, and 7 of the 25 models we run sit above the kr 247.00 price. Bear case: the Dividend Discount group reads lowest at kr 54.55, and 18 of the 25 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, KABE Group generated revenue of 3.1B SEK at a net margin of 3.2%. Revenue declined 6.8% year over year. It earns a return on equity of 5.5%. The balance sheet holds a net cash position of 118M SEK. Fundamentals as of Sep 5, 2026

Our scenario range runs from kr 149.29 (bear case) to kr 248.81 (bull case); at kr 247.00, 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 9% below its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 5% fair-value upside, at −19%, KABE-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 4.74 per share, which is 2.4 % 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
FCF DCF kr 240.94 kr 351.96 kr 505.19 78
Growth DCF kr 241.17 kr 335.59 kr 456.70 77
EPV kr 83.33 kr 92.29 kr 99.76 74
All 25 models by family
DCF Models
FCF DCF kr 240.94 kr 351.96 kr 505.19 78
5Y Revenue Exit kr 161.23 kr 223.98 kr 301.54 71
5Y EBITDA Exit kr 189.94 kr 278.96 kr 382.05 73
5Y P/E Exit kr 186.08 kr 271.57 kr 361.36 69
10Y Revenue Exit kr 188.71 kr 251.78 kr 333.46 66
10Y EBITDA Exit kr 208.14 kr 287.10 kr 390.82 67
10Y P/E Exit kr 205.87 kr 282.35 kr 376.08 63
Earnings-Based
Graham-Dodd kr 61.52 kr 214.62 kr 288.50 62
Lynch FV kr 49.91 kr 71.30 kr 92.68 59
PEG = 1.0 kr 49.91 kr 71.30 kr 92.68 55
EPV kr 83.33 kr 92.29 kr 99.76 74
Dividend Discount
Gordon GGM kr 33.30 kr 60.00 kr 82.60 66
DDM Multi-Stage kr 33.30 kr 54.55 kr 64.09 65
Multiples
P/E Multiple kr 149.29 kr 199.05 kr 248.81 63
P/S Multiple kr 115.36 kr 153.81 kr 192.26 58
P/B Multiple kr 115.36 kr 153.81 kr 192.26 55
EV/EBIT kr 160.65 kr 208.33 kr 256.01 66
EV/EBITDA kr 174.05 kr 226.19 kr 278.33 67
EV/Revenue kr 114.04 kr 155.36 kr 196.68 54
Asset-Based
NCAV (Graham) kr 105.95 kr 141.98 kr 211.90 54
Growth DCF
Growth DCF kr 241.17 kr 335.59 kr 456.70 77
Rev-Margin DCF kr 161.23 kr 226.62 kr 305.18 71
Economic Profit
Residual Income kr 150.24 kr 147.20 kr 125.85 74
ROIC Compounder kr 83.33 kr 92.29 kr 99.76 70
Growth Earnings
Growth-Adj P/E kr 127.88 kr 182.68 kr 237.49 65

Widest divergence: DCF Models (kr 278.96) versus Dividend Discount (kr 54.55). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 16.0 as of Jun 8, 2026
P/S ratio 0.38 P/E × margin
EPS (TTM) kr 10.98 price ÷ EPS = P/E 16.0
Dividend yield 1.6% payout 36.4%
Net margin 2.4% FY2025
Return on equity 5.5% TTM
More key figures
Profitability
Return on assets (EBIT) 9.5% avg 5y
Operating margin 6.2% TTM
Growth
Revenue (TTM) 3.1B SEK TTM
Revenue growth (YoY) −6.8% 3y avg −4.3%
EPS growth (YoY) +92.0%
Balance sheet & cash flow
Free cash flow 194M SEK FY2025
Net cash 118M SEK FY2025

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 56 · Market factors (momentum, volatility) 71

Profitability 42
Margins and returns on capital today
Quality Growth 7
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 60
Distance to the 52-week high (market factor)
Net Issuance 81
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

KABE Group AB (publ.), together with its subsidiaries, manufactures and sells caravans, motorhomes, and camping accessories in Sweden, the United Kingdom, Germany, Norway, Finland, Denmark, Poland, and internationally. The company operates in three segments: Caravans and Motorhomes, Accessories, and Other.

Full company description

KABE Group AB (publ.), together with its subsidiaries, manufactures and sells caravans, motorhomes, and camping accessories in Sweden, the United Kingdom, Germany, Norway, Finland, Denmark, Poland, and internationally. The company operates in three segments: Caravans and Motorhomes, Accessories, and Other. It is involved in the production, development, logistics, marketing, and sale of caravans, motorhomes, transport vehicles, and other mobile units, as well as camping accessories and equipment. The company offers its products under the KABE, Adria, Sun Living, Coachman, Affinity, and KAMA Fritid brand names. It exports and distributes its products through local independent dealerships. The company was formerly known as KABE AB (publ.) and changed its name to KABE Group AB (publ.) in July 2018. KABE Group AB (publ.) was founded in 1957 and is headquartered in Tenhult, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KABE Group reported revenue of 3.2B SEK in FY2025 versus 3.3B SEK in FY2021, a compound −0.4%/yr. Reported net income was 76.0M SEK in FY2025, compounding −22.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.2B SEK
Latest YoY
−15.4%
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.
−4.3%
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.
+8.5%
Avg. revenue growth/yr (17Y) 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.
+5.2%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−6.8% · in SEK
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−8.4%
Dividend yield1.6%
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 −8.4% vs 10Y −1.1%, flattening
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.3.5% (2020) → 2.8% (2025) · steady
Worst earnings drop67% (2025) · in SEK
Revenue −0.4%/yr
FY21 3.3B SEK
FY22 3.7B SEK
FY23 4.1B SEK
FY24 3.8B SEK
FY25 3.2B SEK
Net income −22.6%/yr
FY21 212M SEK
FY22 227M SEK
FY23 230M SEK
FY24 194M SEK
FY25 76.0M SEK
Character of growth · EPS growth decomposed (2014-2025) +6.6 % p.a.
Revenue per share +9.1 %

of which total revenue +9.1 % · buybacks/dilution +0.0 %

EBIT margin −2.6 %
Tax rate −0.3 %
Residual (interest, one-offs) +0.6 %

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).

KABE-B screens 24% overvalued. Compare with Zhejiang Cfmoto Power Co →

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

Peer Group

Recreational Vehicles · 38 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 55 · Above median
Fair Value upside −19% · Below median
Return on equity (TTM) 5% · Above median
Return on assets 3% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth −7% · Below median
Dividend yield (TTM) 1.6% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Recreational Vehicles median · lower = cheaper

P/E (TTM) 16.0× · Cheaper than median
P/B 0.97× · Cheaper than median
P/S (TTM) 0.55× · Cheaper than median
P/FCF 0.9× · Cheaper than 75% of peers
EV/EBITDA 9.9× · Pricier than median
PEG 1.89× · 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
VALUE7 · sector 27
FUTURE0 · sector 0
PAST22 · sector 8
HEALTH99 · sector 89
DIVIDEND32 · sector 59

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 Recreational Vehicles stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
Zhejiang Cfmoto Power Co 603129 ¥283.50 ¥199.10 −30%
Brunswick Corporation BC $82.30 $13.56 −84%
BRP Inc DOO C$88.23 C$86.81 −2%
Polaris Inc PII $63.78 $29.83 −53%
THOR Industries, Inc THO $77.02 $97.14 +26%
Trigano S.A TRI €152.20 €273.48 +80%
Patrick Industries, Inc PATK $81.30 $85.54 +5%
Harley-Davidson, Inc HOG $27.60 $64.09 +132%
LCI Industries, LCII $101.98 $156.35 +53%
Sanlorenzo S.p.A SL €37.94 €37.41 −1%

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Frequently asked questions

Is KABE Group (KABE-B) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of kr 199.05 versus a price of kr 247.00, about −19% upside (overvalued).
What is the fair value of KABE-B?
Our model-based fair value for KABE Group is kr 199.05 (as of Sep 5, 2026), built from audited fundamentals. The current price: kr 247.00.
What is the quality score of KABE-B?
KABE Group has a Quality Score of 55/100. 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 KABE Group (KABE-B)?
KABE Group reported trailing-twelve-month revenue of about 3.1B SEK (latest available figure, as of Sep 5, 2026).
What is the net profit margin of KABE-B?
The net profit margin of KABE Group is about 3.2%, meaning it keeps roughly 3.2% of revenue as net income. Based on the latest reported figures.
Does KABE Group pay a dividend?
KABE Group currently shows a dividend yield of about 1.62% relative to its recent price (as of Sep 5, 2026).
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