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Lyko Group (LYKO-A) Fair Value & Analysis

Consumer Defensive · SE · Market cap 1.3B SEK (≈ $136M) · ISIN SE0010468918

What is Lyko Group really worth?

LG Lyko Group LYKO-A · ST
Pricekr 83.60
Fair Valuekr 115.87
Upside+38.6%
Quality36/100

Below-average quality, trading 28% below our fair value of kr 115.87.

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Strengths

Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +18.9 %/yr)
!Loss-making · -0.9% net margin
!Mixed vs. peers (5/12)
!Narrow moat 15/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range kr 62.57 – kr 169.18

Fair value as of: Aug 13, 2026

From 13 valuation models · updated 22 days ago

Share price −1.6% over the past month.

What runs behind every stock

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

What matters now

  • The large discount to fair value meets weak quality (36/100). That raises the risk this is a value trap rather than a bargain.
  • The model range is unusually wide (kr 62.57 to kr 169.18). The outcome hinges heavily on assumptions, so read the point estimate with caution.

Price vs Fair Value (5 years)

kr 392.50 kr 56.60 Fair Value kr 115.87 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range kr 56.60 – kr 392.50 · fair‑value band kr 62.57 – kr 169.18 · the kr 83.60 price screens below the kr 115.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Lyko Group (LYKO-A) currently trades at kr 83.60, while our model-based Fair Value estimate is kr 115.87, implying the stock looks roughly 27.8% undervalued today. The Quality Score stands at 36/100 (below-average quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of kr 281.25 per share, and 9 of the 13 models we run sit above the kr 83.60 price. Bear case: the Asset-Based group reads lowest at kr 19.98, and 4 of the 13 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Lyko Group generated revenue of 4.0B SEK at a net margin of −0.1%. Revenue grew 16.3% year over year. It earns a return on equity of −0.7%. Net debt stands at 1.5B SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 62.57 (bear case) to kr 169.18 (bull case); at kr 83.60, 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 46% below its 52-week high and 48% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −36% fair-value upside, at 39%, LYKO-A 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.

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 182.68 kr 281.25 kr 545.51 77
Growth DCF kr 173.05 kr 299.51 kr 518.13 76
EPV kr 36.73 kr 41.67 kr 45.79 74
All 13 models by family
DCF Models
FCF DCF kr 182.68 kr 281.25 kr 545.51 77
5Y Revenue Exit kr 91.86 kr 141.48 kr 234.35 71
5Y EBITDA Exit kr 163.73 kr 296.09 kr 537.65 72
10Y Revenue Exit kr 119.97 kr 194.78 kr 265.69 67
10Y EBITDA Exit kr 167.96 kr 320.16 kr 591.91 65
Earnings-Based
EPV kr 36.73 kr 41.67 kr 45.79 74
Multiples
EV/EBIT kr 64.65 kr 86.02 kr 107.40 66
EV/EBITDA kr 160.43 kr 213.74 kr 267.04 67
EV/Revenue kr 46.29 kr 65.90 kr 85.52 53
Asset-Based
NCAV (Graham) kr 14.91 kr 19.98 kr 29.82 54
Growth DCF
Growth DCF kr 173.05 kr 299.51 kr 518.13 76
Rev-Margin DCF kr 91.86 kr 152.86 kr 243.22 71
Economic Profit
ROIC Compounder kr 41.20 kr 56.67 kr 67.90 72

Widest divergence: DCF Models (kr 281.25) versus Asset-Based (kr 19.98). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/S ratio 0.24 TTM
EPS (TTM) kr −2.41
Net margin −0.1% FY2025
Return on equity −0.7% TTM
Return on assets (EBIT) 4.3% avg 5y
Operating margin 1.1% TTM
More key figures
Growth
Revenue (TTM) 4.0B SEK TTM
Revenue growth (YoY) +16.3% 3y avg +16.8%
EPS growth (YoY) +167%
Balance sheet & cash flow
Free cash flow 216M SEK FY2025
Net debt 1.5B SEK FY2025 · ≈ 6.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 36/100

Of which business quality 37 · Market factors (momentum, volatility) 33

Profitability 29
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 21
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 82
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

Lyko Group AB (publ), together with its subsidiaries, produces and sells various hair care and beauty products in Sweden, Norway, Finland, Denmark, Germany, Austria, Poland, and the Netherlands.

Full company description

Lyko Group AB (publ), together with its subsidiaries, produces and sells various hair care and beauty products in Sweden, Norway, Finland, Denmark, Germany, Austria, Poland, and the Netherlands. The company retails gift sets; hair products comprising hair care, styling, hair accessories, hair color, styling tools, brushes and combs, and hair extensions; skincare products consisting of face, skin condition, body, suncare, beauty tech, professional skincare, and dermatological skincare products; makeup products, such as cleansers, face, eyes, lips, makeup brushes, palettes, tools and accessories, and SFX makeup; fragrances, including perfume, body mist, and deodorants; and K-beauty products. It also provides health and wellness products comprising supplements, training and health, food and beverages, sex and pleasure, and oral hygiene products; beard products for men; kids' products; jewelry; home and spa items; phone accessories; underwear; and travel products. The company sells its products through its sales teams, physical stores and salons, online through Lyko.com, and the Lyko app. It also provides haircuts, styling, and skincare treatment services. Lyko Group AB (publ) was founded in 1952 and is headquartered in Vansbro, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lyko Group reported revenue of 4.0B SEK in FY2025 versus 2.1B SEK in FY2021, a compound +16.6%/yr. Reported net income was −3.0M SEK in FY2025.

Growth Quality 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
4.0B SEK
Latest YoY
+11.3%
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.
+16.8%
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.
+18.9%
Avg. revenue growth/yr (10Y) 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.
+22.9%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +16.6%/yr
FY21 2.1B SEK
FY22 2.5B SEK
FY23 3.1B SEK
FY24 3.6B SEK
FY25 4.0B SEK
Net income
FY21 47.3M SEK
FY22 23.2M SEK
FY23 32.0M SEK
FY24 21.0M SEK
FY25 −3.0M SEK
Character of growth · EPS growth decomposed (2015-2025) +22.3 % p.a.
Revenue per share +24.5 %

of which total revenue +24.5 % · buybacks/dilution +0.0 %

EBIT margin −4.6 %
Tax rate +0.7 %
Residual (interest, one-offs) +2.2 %

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).

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

Peer Group

Household & Personal Products · 246 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 36 · Bottom 25%
Fair Value upside +39% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) −1% · Below median
Operating margin (TTM) −1% · Bottom 25%
Revenue growth −5% · Bottom 25%
Debt / equity 0.97× · Higher than 75% of peers

Valuation Multiples vs Household & Personal Products median · lower = cheaper

P/B 0.30× · Cheaper than 75% of peers
P/S (TTM) 0.04× · Cheaper than 75% of peers
P/FCF 0.6× · Cheaper than median
EV/EBITDA 1.8× · Cheaper 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
VALUE85 · sector 27
FUTURE0 · sector 9
PAST0 · sector 27
HEALTH51 · sector 98
DIVIDEND0 · sector 56

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 Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
L'Oréal S.A LORL C$24.76 C$22.64 −9%
Unilever PLC UNA €55.92 €40.47 −28%
Colgate-Palmolive Company CL $90.75 $55.28 −39%
500696 500696 ₹2,093 ₹641.55 −69%
Hindustan Unilever Limited HINDUNILVR ₹2,015 ₹789.46 −61%
Kenvue Inc KVUE $18.95 $10.97 −42%
Kimberly-Clark Corporation KMB $109.55 $79.71 −27%
Henkel AG HEN3 €75.82 €85.95 +13%
The Estée Lauder Companies Inc ESLA €86.54 €18.84 −78%
Church & Dwight Co CHD $101.26 $65.12 −36%

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Frequently asked questions

Is Lyko Group (LYKO-A) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 115.87 versus a price of kr 83.60, about +39% upside (undervalued).
What is the fair value of LYKO-A?
Our model-based fair value for Lyko Group is kr 115.87 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 83.60.
What is the quality score of LYKO-A?
Lyko Group has a Quality Score of 36/100. 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 Lyko Group (LYKO-A)?
Lyko Group reported trailing-twelve-month revenue of about 4.0B SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of LYKO-A?
The net profit margin of Lyko Group is about −0.1%, meaning it is currently running at a net loss. Based on the latest reported figures.
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