Kakel Max AB (publ) (KAKEL) Fair Value & Analysis
Basic Materials · SE · Market cap 32.2M SEK (≈ $3.3M) · ISIN SE0009921075
What is Kakel Max AB (publ) really worth?
A solid business, trading 38% below our fair value of kr 17.44.
Strengths
Risks
Fair value as of: Aug 20, 2026
From 10 valuation models · updated 13 days ago
Fair value updated Aug 20, 2026, revised from kr 12.53 to kr 17.44 (+39.2%) since Aug 13, 2026. Share price +0.9% 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 is below even our cautious bear case (kr 12.35). The market is more pessimistic than our downside scenario.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (kr 12.35 to kr 22.55) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.
How to read this chart
60‑month range kr 8.15 – kr 23.40 · fair‑value band kr 12.35 – kr 22.55 · the kr 10.90 price screens below the kr 17.44 fair value. Dashed = 300-day average. As of Aug 20, 2026.
Analysis
Kakel Max AB (publ) (KAKEL) currently trades at kr 10.90, while our model-based Fair Value estimate is kr 17.44, implying the stock looks roughly 37.5% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of kr 43.11 per share, and 10 of the 10 models we run sit above the kr 10.90 price. Bear case: the Asset-Based group reads lowest at kr 11.01, and 0 of the 10 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Kakel Max AB (publ) generated revenue of 175M SEK at a net margin of −0.8%. Revenue grew 40.8% year over year. It earns a return on equity of −2.8%. Net debt stands at 6.5M SEK. Fundamentals as of Aug 20, 2026
Our scenario range runs from kr 12.35 (bear case) to kr 22.55 (bull case); at kr 10.90, the current price sits below 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 19% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −59% fair-value upside, at 60%, KAKEL screens cheaper than that median.
Fair Value models
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.
All 10 models by family
Widest divergence: DCF Models (kr 43.11) versus Asset-Based (kr 11.01). Highest evidence: FCF DCF (82).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 56
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
Kakel Max AB (publ) operates in the construction ceramic market in Sweden. The company offers tiles, clinker, and natural stones, as well as bathroom furniture. It sells its products through its own stores, warehouses, and resellers. Kakel Max AB (publ) was founded in 1987 and is based in Östervåla, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Kakel Max AB (publ) reported revenue of 175M SEK in FY2025 versus 151M SEK in FY2021, a compound +3.8%/yr. Reported net income was −1.4M SEK in FY2025.
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Peer Group
Building Materials · 258 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 Building Materials median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CRH plc CRH | $96.05 | $69.69 | −27% |
| Holcim AG HOLN | CHF 71.04 | CHF 20.00 | −72% |
| Vulcan Materials Company VMC | $279.86 | $114.48 | −59% |
| UltraTech Cement Limited ULTRACEMCO | ₹11,891 | ₹4,718 | −60% |
| Heidelberg Materials AG HEI | €170.05 | €167.96 | −1% |
| Martin Marietta Materials, Inc MLM | $543.90 | $215.31 | −60% |
| China Jushi Co 600176 | ¥40.56 | ¥13.22 | −67% |
| Amrize AG AMRZ | CHF 37.65 | CHF 29.67 | −21% |
| Grasim Industries Limited GRASIM | ₹3,293 | ₹1,245 | −62% |
| CEMEX, S.A. CX | $11.24 | $11.31 | +1% |
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