New Wave Group AB (publ) (NEWA-B) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of New Wave Group AB (publ) stock SEK 48.24, price SEK 99.70, upside -51.6%, quality 51 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 13, 2026.
How to read this chart
60‑month range kr 50.99 – kr 126.40 · fair‑value band kr 43.31 – kr 89.83 · the kr 99.70 price screens above the kr 48.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 13, 2026.
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New Wave Group AB (publ) designs, acquires, and develops brands and products in the corporate, sports, gifts, and home furnishings sectors in Sweden, the United States, Benelux, rest of Nordic countries, rest of Europe, and internationally.
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It operates through segments: Corporate, Sports & Leisure, and Gifts & Home Furnishings.
The Corporate segment offers promowear products, such as clothes for printing and embroidery, as well as leisure, work, and sports clothes; promotional gifts, including pens, power banks, gift cards, promotional and corporate gifts, bags, handbags, bed linens, and towels; and a range of work wear products comprising underwear, outer garments, reflective clothing, flame protective, and accessories for professional categories, which consist of construction and installation workers, painters and plasterers, transport and service, and hotel and restaurant workers.
This segment offers its products under the D.A.D Sportswear, BAGSFIRST, James Harvest, PROJOB, hurricane, ultimate clothing collection, Printer, Cottover, Clique, Toppoint, Grizzly, J. Harvest & Frost, Jobman, Graphix, Derby of Sweden, and ProJob brands.
The Sports & Leisure segment provides clothes and shoes for sports, golf, hunting, fishing, shoe, and fashion trade under the Cutter & Buck, AHEAD, Craft, Clique, AHEAD, Kate Lord, Auclair, Laurentide, Seger, Termo, PAX, Marstrand, Sköna Marie, and Tenson brands.
The Gifts & Home Furnishings segment offers gifts and home furnishing products under the Sagaform, Orrefors, Kosta Förlag, Lord Nelson Victory, KostaBoda, Lord Nelson, Queen Anne, Orrefors Jernverk, Nightingale, Kosta Linnewäfveri, Lågprisvaruhuset Kosta AB, Kosta Boda Art Hotel, Kosta Lodge, ByOn, Victorian, and VAKINME brands.
The company was incorporated in 1989 and is headquartered in Gothenburg, Sweden.
Stock analysis
New Wave Group AB (publ) (NEWA-B) currently trades at kr 99.70, while our model-based Fair Value estimate is kr 48.24, 51.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 116.17 per share, and 6 of the 20 models we run sit above the kr 99.70 price.
Bear case: the Asset-Based group reads lowest at kr 19.07, and 14 of the 20 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 43.31 (bear) to kr 89.83 (bull), the price of kr 99.70 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
New Wave Group AB (publ) reported revenue of 10.0B SEK in FY2025 versus 6.7B SEK in FY2021, a compound +10.5%/yr. Reported net income was 783M SEK in FY2025, compounding +0.7%/yr from FY2021.
Key figures
Market cap 13.2B SEK (≈ $1.3B) Small · P/E ratio 14.9 · P/S ratio 1.26 · EPS (TTM) kr 6.05 · Dividend yield 3.5% · Net margin 7.7% · Return on equity 11.8% · Return on assets (EBIT) 12.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 18% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 9% fair-value upside, at −52%, NEWA-B screens richer than that median.
Fair Value models
Bearkr 43.31Fair Value kr 48.24Bullkr 89.83
Price kr 99.70 · Upside -51.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 2.05 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+10.4%
Start year 2020 (pandemic). Over 10 years: +7.3% a year
Revenue growth 24 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+9.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+36.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+33.1%
Dividend (yield on the price)3.5%
Pace: 5 vs 10 years ⓘ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.33.1% vs 24.4%, picking up
Profit margin 2020 to 2025 ⓘ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.9% → 12%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +5.0% a year for the forecasts.
Compare New Wave Group AB (publ) with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Specialty Retail · 199 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−51.6% · Bottom 25%
Profitability
Return on equity (12 months)11.8% · Above median
Return on assets6.1% · Top 25%
Net margin (12 months)7.7% · Top 25%
Operating margin (12 months)11.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)13.5% · Above median
Dividend yield (12 months)3.5% · Above median
Balance sheet
Debt / equity0.49× · Above median
Valuation Multiplesvs Specialty Retail median · lower = cheaper
P/E (12 months)14.9× · Cheaper than median
P/B1.94× · Pricier than median
P/S (12 months)1.26× · Priciest 25%
Price / free cash flow339.2× · Priciest 25%
EV/EBITDA12.5× · Pricier than median
PEG0.88× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 48
FUTURE (revenue growth)68· sector 23
PAST (return on equity)47· sector 30
HEALTH (low debt)75· sector 94
DIVIDEND (yield)70· sector 65
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "New Wave Group AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/NEWA-B
Frequently asked questions
Is New Wave Group AB (publ) (NEWA-B) overvalued or undervalued?
As of Oct 13, 2026, our model estimates a fair value of kr 48.24 versus a price of kr 99.70, about −52% upside (overvalued).
What is the fair value of NEWA-B?
Our model-based fair value for New Wave Group AB (publ) is kr 48.24 (as of Oct 13, 2026), built from audited fundamentals. The current price: kr 99.70.
What is the quality score of NEWA-B?
New Wave Group AB (publ) has a Quality Score of 51/100. 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 price target for New Wave Group AB (publ) (NEWA-B)?
Our model-based price target is the fair value of kr 48.24 (as of Oct 13, 2026) from 20 valuation models. Cautious scenario kr 43.31, optimistic scenario kr 89.83. It is a calculation from audited fundamentals, not an analyst target.
What is the New Wave Group AB (publ) stock forecast for 2026?
Our models put fair value at kr 48.24, about −52% upside versus a price of kr 99.70 (overvalued). Cautious scenario kr 43.31, optimistic scenario kr 89.83. The calculation is refreshed regularly with new filings.
What is the revenue of New Wave Group AB (publ) (NEWA-B)?
New Wave Group AB (publ) reported trailing-twelve-month revenue of about 10.5B SEK (latest available figure, as of Oct 13, 2026).
Does New Wave Group AB (publ) pay a dividend?
New Wave Group AB (publ) currently shows a dividend yield of 3.51% relative to its recent price (as of Oct 13, 2026).
What growth is priced into New Wave Group AB (publ) (NEWA-B)?
For today's price to be fair in a discounted-cash-flow model, New Wave Group AB (publ) would have to grow free cash flow by more than 80 % per year for five years (discount rate 12.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.4 % per year. As of Oct 13, 2026.
What discount rate (WACC) does the fair value of NEWA-B use?
Our models discount New Wave Group AB (publ) at 12.0 %: a base by market capitalisation (small), damped by beta 1.35, country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For New Wave Group AB (publ) that is more than 80 % per year a year over ten years, using the same discount rate (12.0 %) and the same formula as our fair value.
How much growth has New Wave Group AB (publ) (NEWA-B) delivered so far?
Over the past 5 years revenue at New Wave Group AB (publ) grew +10.4 % a year. The price currently implies more than 80 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of New Wave Group AB (publ) (NEWA-B) growing?
The median revenue growth in the sector is +4.3 % a year. That is the yardstick for the growth priced into New Wave Group AB (publ) (more than 80 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of New Wave Group AB (publ) (NEWA-B)?
The free-cash-flow yield on the price is 0.29 %: that much free cash flow New Wave Group AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (12.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of New Wave Group AB (publ) (NEWA-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For New Wave Group AB (publ) it is kr 48.24 per share (as of Oct 13, 2026), against a price of kr 99.70. It is the blended result of 20 valuation models (cash flow, earnings, asset, dividend).
Is New Wave Group AB (publ) stock overvalued or undervalued in 2026?
As of Oct 13, 2026, NEWA-B trades above its calculated fair value: price kr 99.70, fair value kr 48.24, a gap of about −52% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NEWA-B?
No. The price is what the market pays today (kr 99.70); the fair value is what the company's own numbers justify (kr 48.24). For New Wave Group AB (publ) the two are kr 51.46 per share apart. That gap is exactly why we show both numbers side by side.
How much is New Wave Group AB (publ) worth?
The market values New Wave Group AB (publ) at about 13.2B SEK (market capitalisation, as of Oct 13, 2026). Per share that is kr 99.70; our models calculate a fair value of kr 48.24 per share.
What do the bullish and bearish scenarios say about NEWA-B?
Our models span a range for New Wave Group AB (publ): cautious scenario kr 43.31, base kr 48.24, optimistic kr 89.83 per share (as of Oct 13, 2026, price kr 99.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NEWA-B?
New Wave Group AB (publ) trades at a price-to-earnings ratio of 14.9 (as of Oct 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 48.24 is built from several models across several years. Other multiples: PEG 0.9, P/B 1.9, P/S 1.3, EV/EBITDA 12.5.
What is the PEG ratio of NEWA-B?
The PEG ratio of New Wave Group AB (publ) is 0.88 (P/E divided by earnings growth, as of Oct 13, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of New Wave Group AB (publ) (NEWA-B)?
Balance-sheet figures for New Wave Group AB (publ) (as of Oct 13, 2026): return on equity 11.8%, debt of 0.49 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is NEWA-B from its 52-week high?
New Wave Group AB (publ) trades at kr 99.70, about 15% below its 52-week high of kr 117.78 and 18% above the low of kr 84.75 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of kr 48.24 is for.
Which stocks are comparable to New Wave Group AB (publ)?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Williams-Sonoma, Inc, Ulta Beauty, Inc, Casey's General Stores, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is New Wave Group AB (publ) stock attractive at the current price?
The data as of Oct 13, 2026: price kr 99.70, calculated fair value kr 48.24 (−52%), Quality Score 51/100, from 20 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NEWA-B calculated?
We run New Wave Group AB (publ) through 20 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 48.24, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9 % above its aggregate fair value. New Wave Group AB (publ) itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of New Wave Group AB (publ) (NEWA-B)?
The closing price on Oct 19, 2026 was kr 99.70. Our model-based fair value is kr 48.24, about −52% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with New Wave Group AB (publ) right now?
The price sits above even our optimistic bull case (kr 89.83). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 43.31 to kr 89.83) leaves room in how you read the outcome.
Where does the earnings growth of New Wave Group AB (publ) (NEWA-B) come from?
Earnings per share at New Wave Group AB (publ) grew +21.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +10.3 %, EBIT margin +9.2 %, tax rate −0.7 %, residual (interest, one-offs) +1.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of New Wave Group AB (publ)
How large is the market capitalisation of New Wave Group AB (publ) (NEWA-B)?
The market capitalisation of New Wave Group AB (publ) is 13.2B SEK (≈ $1.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of New Wave Group AB (publ) (NEWA-B)?
The price-to-sales ratio of New Wave Group AB (publ) is 1.26 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of New Wave Group AB (publ) (NEWA-B)?
Earnings per share at New Wave Group AB (publ) are kr 6.05 (price ÷ EPS = P/E 14.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of New Wave Group AB (publ) (NEWA-B)?
The dividend yield of New Wave Group AB (publ) is 3.5% (payout 57.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of New Wave Group AB (publ) (NEWA-B)?
The net margin of New Wave Group AB (publ) is 7.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of New Wave Group AB (publ) (NEWA-B)?
The return on equity (ROE) of New Wave Group AB (publ) is 11.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of New Wave Group AB (publ) (NEWA-B)?
On an EBIT basis the return on assets of New Wave Group AB (publ) is 12.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of New Wave Group AB (publ) (NEWA-B)?
The operating margin of New Wave Group AB (publ) is 11.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at New Wave Group AB (publ) (NEWA-B)?
Revenue at New Wave Group AB (publ) is growing +13.5% versus a year earlier (3y avg +4.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at New Wave Group AB (publ) (NEWA-B)?
Earnings per share at New Wave Group AB (publ) are growing +21.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does New Wave Group AB (publ) (NEWA-B) carry?
The net debt of New Wave Group AB (publ) is 3.1B SEK (fiscal year 2025, ≈ 79.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Oct 13, 2026