Karnov Group (KAR) Fair Value & Analysis
Industrials · SE · Market cap 6.8B SEK
Fair value as of: Jul 15, 2026
From 26 valuation models · updated 26 days ago
Fair value updated Jul 15, 2026, revised from kr 122.73 to kr 123.58 (+0.7%) since Jun 24, 2026. Share price +6.7% over the past month.
A solid business, screening 69% undervalued on our models.
What matters now
- The model range is unusually wide (kr 72.78 to kr 267.06). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.
How to read this chart
60‑month range kr 40.10 – kr 126.60 · fair‑value band kr 72.78 – kr 267.06 · the kr 73.10 price screens below the kr 123.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.
Analysis
Karnov Group (KAR) currently trades at kr 73.10, while our model-based Fair Value estimate is kr 123.58, implying the stock looks roughly 69.1% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Karnov Group generated revenue of 2.6B SEK at a net margin of 36.7%. Revenue declined 6.6% year over year. It earns a return on equity of 38.0%. Net debt stands at 1.4B SEK. Fundamentals as of Jul 15, 2026
Our scenario range runs from kr 72.78 (bear case) to kr 267.06 (bull case); at kr 73.10, 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 43% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at 69%, KAR 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.
All 26 models by family
Widest divergence: Growth Earnings (kr 268.93) versus Dividend Discount (kr 15.37). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 34
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
Karnov Group AB (publ) provides information and workflow solutions in Denmark, Sweden, Norway, France, Spain, and Portugal. It offers research, business valuation tools, international guides and workflow solutions, and literature; legal research solutions, continued legal education, and compliance workflow solutions.
Full company description
Karnov Group AB (publ) provides information and workflow solutions in Denmark, Sweden, Norway, France, Spain, and Portugal. It offers research, business valuation tools, international guides and workflow solutions, and literature; legal research solutions, continued legal education, and compliance workflow solutions. The company provides its products under the Karnov, Norstedts Juridik, Aranzadi LA LEY, Lamy Liaisons, Notisum, Echoline, BELLA Intelligence, DIBkunnskap, and Nørskov Miljø brand names. It serves practitioners, corporate, and public sector markets. Karnov Group AB (publ) was founded in 1867 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Karnov Group reported revenue of kr 2.6B in FY2025 versus kr 878M in FY2021, a compound +31.7%/yr. Reported net income was kr 971M in FY2025, compounding +83.9%/yr from FY2021.
Watch KAR: get an alert when its fair value changes →
Peer Group
Specialty Business Services · 255 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 Specialty Business Services 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.
Insider activity: 45/100
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.
Similar stocks
10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cintas Corporation CTAS | $206.25 | $95.30 | -54% |
| RELX PLC RELX | $33.70 | $32.49 | -4% |
| Thomson Reuters Corporation TRI | C$133.87 | C$70.40 | -47% |
| Copart, Inc CPRT | $27.61 | $28.59 | +4% |
| Global Payments Inc GPN | $80.49 | $69.67 | -13% |
| RB Global, Inc RBA | C$156.43 | C$49.14 | -69% |
| Brambles Limited BXB | A$18.79 | A$12.28 | -35% |
| UL Solutions Inc ULS | $87.76 | $33.62 | -62% |
| Wolters Kluwer N.V WKL | €62.56 | €103.99 | +66% |
| Aramark ARMK | $56.74 | $13.73 | -76% |
Compare Karnov Group with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Industrials stocks →
Frequently asked questions
Is Karnov Group (KAR) overvalued or undervalued?
What is the fair value of KAR?
What is the quality score of KAR?
What is the revenue of Karnov Group (KAR)?
What is the net profit margin of KAR?
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.
Track Karnov Group and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.