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Lagercrantz Group (LAGR-B) Fair Value & Analysis

Industrials · SE · Market cap 50.0B SEK (≈ $5.2B) · ISIN SE0014990966

What is Lagercrantz Group really worth?

LG Lagercrantz Group LAGR-B · ST
Pricekr 222.60
Fair Valuekr 128.32
Upside−42.4%
Quality65/100

A solid business, but trading 73% above our fair value of kr 128.32.

As of Aug 30, 2026, the fair value of Lagercrantz Group is kr 128.32 per share against a price of kr 222.60, so the fair value sits 42% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Healthy Growth (revenue 5y +21.0 %/yr)
Solidly profitable · 11.3% net margin
Moderate debt · generates free cash flow
Wide moat 68/100

Risks

!Mixed vs. peers (6/15)
!Weak on dividend: 22 out of 100

For context

·1.12% dividend yield
Evidence: High Range kr 67.59 – kr 211.01

Fair value as of: Aug 30, 2026

From 11 valuation models · updated 6 days ago

Share price −4.8% 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 sits above even our optimistic bull case (kr 211.01). The favourable scenario is already priced in.
  • The model range is unusually wide (kr 67.59 to kr 211.01). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

kr 265.60 kr 75.92 Fair Value kr 128.32 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range kr 75.92 – kr 265.60 · fair‑value band kr 67.59 – kr 211.01 · the kr 222.60 price screens above the kr 128.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

Lagercrantz Group (LAGR-B) currently trades at kr 222.60, while our model-based Fair Value estimate is kr 128.32, implying the stock looks roughly 73.5% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of kr 137.70 per share, and 0 of the 11 models we run sit above the kr 222.60 price. Bear case: the Asset-Based group reads lowest at kr 15.13, and 11 of the 11 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Lagercrantz Group generated revenue of 10.6B SEK at a net margin of 11.3%. Revenue grew 12.9% year over year. It earns a return on equity of 29.0%. Net debt stands at 4.2B SEK. Fundamentals as of Aug 30, 2026

Our scenario range runs from kr 67.59 (bear case) to kr 211.01 (bull case); at kr 222.60, 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 17% below its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 34% fair-value upside, at −42%, LAGR-B screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly kr 1.44 per share, which is 1.1 % 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
Growth DCF best evidence kr 65.64 kr 127.83 kr 232.87 75
Owner Earnings kr 84.95 kr 167.52 kr 310.58 73
Rev-Margin DCF kr 54.63 kr 106.60 kr 173.53 70
All 11 models by family
DCF Models
Owner Earnings kr 84.95 kr 167.52 kr 310.58 73
5Y P/E Exit kr 69.21 kr 137.70 kr 215.80 69
10Y P/E Exit kr 67.48 kr 129.18 kr 216.13 62
Earnings-Based
Graham-Dodd kr 41.55 kr 190.71 kr 261.78 64
Lynch FV kr 50.09 kr 71.55 kr 93.02 61
Multiples
P/E Multiple kr 96.24 kr 128.32 kr 160.40 63
P/B Multiple kr 76.24 kr 101.65 kr 127.06 55
Asset-Based
NCAV (Graham) kr 11.29 kr 15.13 kr 22.59 54
Growth DCF
Growth DCF best evidence kr 65.64 kr 127.83 kr 232.87 75
Rev-Margin DCF kr 54.63 kr 106.60 kr 173.53 70
Economic Profit
Residual Income kr 41.47 kr 56.60 kr 355.53 64

Widest divergence: DCF Models (kr 137.70) versus Asset-Based (kr 15.13). Highest evidence: Growth DCF (75).

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Key figures & financial health

P/E ratio 41.6 as of Jul 16, 2026
P/S ratio 4.71 P/E × margin
EPS (TTM) kr 5.82 price ÷ EPS = P/E 41.6
Dividend yield 1.1% payout 43.0%
Net margin 11.3% FY2026
Return on equity 29.0% TTM
More key figures
Profitability
Return on assets (EBIT) 12.8% avg 5y
Operating margin 16.0% TTM
Growth
Revenue (TTM) 10.6B SEK TTM
Revenue growth (YoY) +12.9% 3y avg +13.6%
EPS growth (YoY) +19.2%
Balance sheet & cash flow
Free cash flow 1.3B SEK FY2026
Net debt 4.2B SEK FY2026 · ≈ 3.3 yrs of FCF

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 62 · Market factors (momentum, volatility) 44

Profitability 65
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 49
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 80
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

Lagercrantz Group AB (publ), together with its subsidiaries, operates as a technology company in Sweden, Denmark, Norway, Finland, Germany, the United Kingdom, Benelux, Poland, rest of Europe, North America, Asia, and internationally. The company operates through five segments: Electrify, Control, TecSec, Niche Products, and International.

Full company description

Lagercrantz Group AB (publ), together with its subsidiaries, operates as a technology company in Sweden, Denmark, Norway, Finland, Germany, the United Kingdom, Benelux, Poland, rest of Europe, North America, Asia, and internationally. The company operates through five segments: Electrify, Control, TecSec, Niche Products, and International. It offers IP-classed enclosures, cabinets, and storage solutions; cabling solutions; safety and security products and systems; infrastructure and electrical products; technical housing; and measure and control technical equipment. The company also provides technical security products, such as locking devices, fences and security doors, technical security systems, and security solutions that prevent accidents. In addition, it offers washing systems for heavy vehicles, dispenser systems for foodstuffs, sharpening systems for knives and other edge tools, and special doors for refrigeration rooms and hospitals, as well as valves for land-based fish farms; and marine products. The company provides its solutions for shipyards, railways, power distribution, and mechanical; industry, electricity distribution, transmission, renewable energy, transport infrastructure, battery and charging technologies, and communication networks, such as fibre and 5G; and public authorities, critical societal functions, companies, logistics, nursing and healthcare, building, and construction, as well as offshore sectors. Lagercrantz Group AB (publ) was founded in 1906 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Lagercrantz Group reported revenue of 10.6B SEK in FY2026 versus 5.5B SEK in FY2022, a compound +17.9%/yr. Reported net income was 1.2B SEK in FY2026, compounding +20.4%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
10.6B SEK
Latest YoY
+13.0%
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.
+13.6%
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.
+21.0%
Avg. revenue growth/yr (23Y) 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.
+9.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+26.0% · in SEK
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+24.9%
Dividend yield1.1%
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 25.0% vs 10Y 17.3%, picking up
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.13.1% (2021) → 15.5% (2026) · rising
Worst earnings drop51% (2010) · in SEK
Revenue +17.9%/yr
FY22 5.5B SEK
FY23 7.2B SEK
FY24 8.1B SEK
FY25 9.4B SEK
FY26 10.6B SEK
Net income +20.4%/yr
FY22 572M SEK
FY23 758M SEK
FY24 877M SEK
FY25 1.0B SEK
FY26 1.2B SEK
Character of growth · EPS growth decomposed (2015-2026) +17.5 % p.a.
Revenue per share +13.4 %

of which total revenue +13.5 % · buybacks/dilution −0.1 %

EBIT margin +4.2 %
Tax rate +0.1 %
Residual (interest, one-offs) −0.7 %

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).

LAGR-B screens 73% overvalued. Compare with ITOCHU Corporation →

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

Peer Group

Conglomerates · 374 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 65 · Top 25%
Fair Value upside −42% · Below median
Return on equity (TTM) 29% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 16% · Top 25%
Revenue growth 13% · Above median
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.87× · Higher than 75% of peers

Valuation Multiples vs Conglomerates median · lower = cheaper

P/E (TTM) 41.6× · Pricier than 75% of peers
P/B 11.27× · Pricier than 75% of peers
P/S (TTM) 4.71× · Pricier than 75% of peers
P/FCF 4.1× · Pricier than median
EV/EBITDA 26.0× · Pricier than 75% of peers
PEG 3.02× · Pricier than 75% of peers

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
VALUE0 · sector 25
FUTURE65 · sector 17
PAST100 · sector 17
HEALTH56 · sector 89
DIVIDEND22 · sector 42

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

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Frequently asked questions

Is Lagercrantz Group (LAGR-B) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of kr 128.32 versus a price of kr 222.60, about −42% upside (overvalued).
What is the fair value of LAGR-B?
Our model-based fair value for Lagercrantz Group is kr 128.32 (as of Aug 30, 2026), built from audited fundamentals. The current price: kr 222.60.
What is the quality score of LAGR-B?
Lagercrantz Group has a Quality Score of 65/100. 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 Lagercrantz Group (LAGR-B)?
Lagercrantz Group reported trailing-twelve-month revenue of about 10.6B SEK (latest available figure, as of Aug 30, 2026).
What is the net profit margin of LAGR-B?
The net profit margin of Lagercrantz Group is about 11.3%, meaning it keeps roughly 11.3% of revenue as net income. Based on the latest reported figures.
Does Lagercrantz Group pay a dividend?
Lagercrantz Group currently shows a dividend yield of about 1.12% relative to its recent price (as of Aug 30, 2026).
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