Nexam Chemical Holding AB (NEXAM) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Nexam Chemical Holding AB stock SEK 2.07, price SEK 2.43, upside -15.0%, quality 29 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Nexam Chemical Holding AB (publ) develops solutions that enhance properties and performance of plastics in Sweden, Europe, and internationally.
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The company provides various solutions for polyesters, polyethylene, polyamides, polyimides, polyester foams, as well as produces various functional chemicals, high temperature resins, additive/functional masterbatches, Recolour Plus, and color masterbatches under the NEXAMITE and NEXIMID names; and polymer recycling and reactive recycling solutions.
It serves aerospace, electronics, pipes, and engineered foams industries. Nexam Chemical Holding AB (publ) was founded in 2009 and is headquartered in Lomma, Sweden.
Stock analysis
Nexam Chemical Holding AB (NEXAM) currently trades at kr 2.43, while our model-based Fair Value estimate is kr 2.07, 15.0% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 2.78 per share, and 4 of the 10 models we run sit above the kr 2.43 price.
Bear case: the Multiples group reads lowest at kr 0.3000, and 6 of the 10 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 1.25 (bear) to kr 3.77 (bull), the price of kr 2.43 sits inside 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 29/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Nexam Chemical Holding AB reported revenue of 192M SEK in FY2025 versus 219M SEK in FY2021, a compound −3.3%/yr. Reported net income was −16.5M SEK in FY2025.
Key figures
Market cap 249M SEK (≈ $25.2M) Micro · P/S ratio 1.38 · EPS (TTM) kr −0.1600 · Net margin −9.8% · Return on equity −9.8% · Return on assets (EBIT) −4.5% · Operating margin −15.9% · Revenue (TTM) 189M SEK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −55% fair-value upside, at −15%, NEXAM screens cheaper than that median.
Fair Value models
Bearkr 1.25Fair Value kr 2.07Bullkr 3.77
Price kr 2.43 · Upside -15.0%
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.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.
Best data coverage
FCF DCFkr 2.44kr 3.95kr 8.8970
5Y EBITDA Exitkr 0.9000kr 1.28kr 2.0370
Growth DCFkr 2.30kr 4.83kr 9.0870
All 10 models by family
DCF Models
FCF DCFkr 2.44kr 3.95kr 8.8970
5Y Revenue Exitkr 1.47kr 2.43kr 4.4466
5Y EBITDA Exitkr 0.9000kr 1.28kr 2.0370
10Y Revenue Exitkr 1.72kr 3.54kr 4.6162
10Y EBITDA Exitkr 1.35kr 2.28kr 3.6963
Multiples
EV/EBITDAkr 0.1800kr 0.3000kr 0.410066
EV/Revenuekr 0.8400kr 1.27kr 1.7053
Asset-Based
NCAV (Graham)kr 0.1100kr 0.1700kr 0.210055
Growth DCF
Growth DCFkr 2.30kr 4.83kr 9.0870
Rev-Margin DCFkr 1.61kr 2.78kr 5.2465
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.30/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−3.7%
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.
−4.6%
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.
+3.0%
Start year 2020 (pandemic). Over 10 years: +37.7% a year
Revenue growth 16 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.
+71.9%
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Profit margin (trend) ⓘ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.
−3.1% (2020) → −6.1% (2025)
What shareholders gained per year ⓘ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
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+9.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +6.9% a year for the price.
Compare Nexam Chemical Holding AB with another stock
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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 Chemicals · 723 stocks
Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score29 · Bottom 25%
Fair Value upside−15.0% · Above median
Profitability
Return on assets−7.3% · Bottom 25%
Net margin (12 months)−9.8% · Bottom 25%
Operating margin (12 months)−15.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−8.6% · Bottom 25%
Balance sheet
Debt / equity0.07× · Below median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
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). "Nexam Chemical Holding AB Fair Value". https://www.fairvalue-calculator.com/stock/NEXAM
Frequently asked questions
Is Nexam Chemical Holding AB (NEXAM) overvalued or undervalued?
As of Oct 28, 2026, our model estimates a fair value of kr 2.07 versus a price of kr 2.43, about −15% upside (overvalued).
What is the fair value of NEXAM?
Our model-based fair value for Nexam Chemical Holding AB is kr 2.07 (as of Oct 28, 2026), built from audited fundamentals. The current price: kr 2.43.
What is the quality score of NEXAM?
Nexam Chemical Holding AB has a Quality Score of 29/100. 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 Nexam Chemical Holding AB (NEXAM)?
Our model-based price target is the fair value of kr 2.07 (as of Oct 28, 2026) from 10 valuation models. Cautious scenario kr 1.25, optimistic scenario kr 3.77. It is a calculation from audited fundamentals, not an analyst target.
What is the Nexam Chemical Holding AB stock forecast for 2026?
Our models put fair value at kr 2.07, about −15% upside versus a price of kr 2.43 (overvalued). Cautious scenario kr 1.25, optimistic scenario kr 3.77. The calculation is refreshed regularly with new filings.
What is the revenue of Nexam Chemical Holding AB (NEXAM)?
Nexam Chemical Holding AB reported trailing-twelve-month revenue of about 189M SEK (latest available figure, as of Oct 28, 2026).
What growth is priced into Nexam Chemical Holding AB (NEXAM)?
For today's price to be fair in a discounted-cash-flow model, Nexam Chemical Holding AB would have to grow free cash flow by +9.0 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.0 % per year. As of Oct 28, 2026.
What discount rate (WACC) does the fair value of NEXAM use?
Our models discount Nexam Chemical Holding AB at 8.5 %: a base by market capitalisation (nano), damped by beta 0.56, 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 Nexam Chemical Holding AB that is +9.0 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has Nexam Chemical Holding AB (NEXAM) delivered so far?
Over the past 5 years revenue at Nexam Chemical Holding AB grew +3.0 % a year. The price currently implies +9.0 % 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 Nexam Chemical Holding AB (NEXAM) growing?
The median revenue growth in the sector is +9.5 % a year. That is the yardstick for the growth priced into Nexam Chemical Holding AB (+9.0 % 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 Nexam Chemical Holding AB (NEXAM)?
The free-cash-flow yield on the price is 4.52 %: that much free cash flow Nexam Chemical Holding AB produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nexam Chemical Holding AB (NEXAM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nexam Chemical Holding AB it is kr 2.07 per share (as of Oct 28, 2026), against a price of kr 2.43. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Nexam Chemical Holding AB stock overvalued or undervalued in 2026?
As of Oct 28, 2026, NEXAM trades above its calculated fair value: price kr 2.43, fair value kr 2.07, a gap of about −15% (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 NEXAM?
No. The price is what the market pays today (kr 2.43); the fair value is what the company's own numbers justify (kr 2.07). For Nexam Chemical Holding AB the two are kr 0.3640 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nexam Chemical Holding AB worth?
The market values Nexam Chemical Holding AB at about 249M SEK (market capitalisation, as of Oct 28, 2026). Per share that is kr 2.43; our models calculate a fair value of kr 2.07 per share.
What do the bullish and bearish scenarios say about NEXAM?
Our models span a range for Nexam Chemical Holding AB: cautious scenario kr 1.25, base kr 2.07, optimistic kr 3.77 per share (as of Oct 28, 2026, price kr 2.43). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Nexam Chemical Holding AB (NEXAM)?
Balance-sheet figures for Nexam Chemical Holding AB (as of Oct 28, 2026): return on equity −9.8%, debt of 0.07 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is NEXAM from its 52-week high?
Nexam Chemical Holding AB trades at kr 2.43, about 36% below its 52-week high of kr 3.79 and 9% above the low of kr 2.23 (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of kr 2.07 is for.
Which stocks are comparable to Nexam Chemical Holding AB?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Givaudan SA, 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 Nexam Chemical Holding AB stock attractive at the current price?
The data as of Oct 28, 2026: price kr 2.43, calculated fair value kr 2.07 (−15%), Quality Score 29/100, from 10 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 NEXAM calculated?
We run Nexam Chemical Holding AB through 10 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 2.07, 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 13.4 % above its aggregate fair value. Nexam Chemical Holding AB 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 Nexam Chemical Holding AB (NEXAM)?
The closing price on Oct 28, 2026 was kr 2.43. Our model-based fair value is kr 2.07, about −15% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nexam Chemical Holding AB right now?
The model range is unusually wide (kr 1.25 to kr 3.77). The outcome hinges heavily on assumptions, so read the point estimate with caution. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Nexam Chemical Holding AB
How large is the market capitalisation of Nexam Chemical Holding AB (NEXAM)?
The market capitalisation of Nexam Chemical Holding AB is 249M SEK (≈ $25.2M). 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 Nexam Chemical Holding AB (NEXAM)?
The price-to-sales ratio of Nexam Chemical Holding AB is 1.38 (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 Nexam Chemical Holding AB (NEXAM)?
Earnings per share at Nexam Chemical Holding AB are kr −0.1600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Nexam Chemical Holding AB (NEXAM)?
The net margin of Nexam Chemical Holding AB is −9.8% (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 Nexam Chemical Holding AB (NEXAM)?
The return on equity (ROE) of Nexam Chemical Holding AB is −9.8% (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 Nexam Chemical Holding AB (NEXAM)?
On an EBIT basis the return on assets of Nexam Chemical Holding AB is −4.5% (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 Nexam Chemical Holding AB (NEXAM)?
The operating margin of Nexam Chemical Holding AB is −15.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nexam Chemical Holding AB (NEXAM)?
Revenue at Nexam Chemical Holding AB is growing −8.6% versus a year earlier (3y avg −4.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Nexam Chemical Holding AB (NEXAM) carry?
The net debt of Nexam Chemical Holding AB is 16.1M SEK (fiscal year 2025, ≈ 1.4 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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Oct 28, 2026