Nordisk Bergteknik AB (NORB-B) Fair Value & Analysis
Industrials · SE · Market cap 635M SEK (≈ $66.5M) · ISIN SE0015812128
What is Nordisk Bergteknik AB really worth?
A solid business, currently priced close to our fair value of kr 11.65.
Strengths
Risks
Fair value as of: Aug 19, 2026
From 19 valuation models · updated 16 days ago
Share price −5.4% 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 close to our fair value, market and models broadly agree here, little valuation tension.
- The price sits in the lower half of our model range, the side with the larger margin of safety.
- The data supports the verdict: every model runs on fully documented inputs.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
59‑month range kr 10.25 – kr 43.50 · fair‑value band kr 8.15 – kr 13.07 · the kr 10.60 price screens below the kr 11.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.
Analysis
Nordisk Bergteknik AB (NORB-B) currently trades at kr 10.60, while our model-based Fair Value estimate is kr 11.65, implying the stock looks roughly 9.0% fairly valued today. The Quality Score stands at 50/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of kr 23.75 per share, and 9 of the 17 models we run sit above the kr 10.60 price. Bear case: the Earnings-Based group reads lowest at kr 7.87, and 8 of the 17 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Nordisk Bergteknik AB generated revenue of 3.4B SEK at a net margin of 1.0%. Revenue declined 2.0% year over year. It earns a return on equity of 2.9%. Net debt stands at 1.7B SEK. Fundamentals as of Aug 19, 2026
Our scenario range runs from kr 8.15 (bear case) to kr 13.07 (bull case); at kr 10.60, 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 34% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 10%, NORB-B screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 0.4281 per share, which is 3.7 % 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.
All 19 models by family
Widest divergence: DCF Models (kr 23.75) versus Earnings-Based (kr 7.87). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 32
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
Nordisk Bergteknik AB (publ), together with its subsidiaries, provides rock handling, foundation work, and mining services for the infrastructure, construction, and mining industries in Sweden, Norway, Finland, and internationally. It operates in three segments: Rock Sweden, Rock Norway, and Foundation Sweden.
Full company description
Nordisk Bergteknik AB (publ), together with its subsidiaries, provides rock handling, foundation work, and mining services for the infrastructure, construction, and mining industries in Sweden, Norway, Finland, and internationally. It operates in three segments: Rock Sweden, Rock Norway, and Foundation Sweden. The company offers foundation works, foundation reinforcement, sheet piling, soil reinforcement, transport and excavation, drilling and excavation, rock crushing, mining and prospect drilling, rock reinforcement, concrete rehabilitation, rock splitting, foundation construction, grounding, groundwater lowering, wire sawing, rock stabilization, and foundation reinforcement services. It also provides rock excavation, rock fracturing, concrete spraying, piling, grouting, and soil nailing services. The company's services are used in local and national infrastructure, construction projects and contracts, wind farms, mines, natural environments, and other applications. Nordisk Bergteknik AB (publ) was founded in 1966 and is headquartered in Gothenburg, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Nordisk Bergteknik AB reported revenue of 3.5B SEK in FY2025 versus 1.9B SEK in FY2021, a compound +15.8%/yr. Reported net income was 28.5M SEK in FY2025, compounding −10.6%/yr from FY2021.
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Peer Group
Engineering & Construction · 817 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 Engineering & Construction median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Quanta Services, Inc PWR | $620.06 | $143.92 | −77% |
| Vinci SA DG | €114.35 | €185.62 | +62% |
| Comfort Systems USA, Inc FIX | $1,615 | $519.97 | −68% |
| Larsen & Toubro Limited LT | ₹4,072 | ₹2,196 | −46% |
| Ferrovial N.V FER | €57.28 | €19.17 | −67% |
| HOCHTIEF Aktiengesellschaft HOT | €426.40 | €203.87 | −52% |
| Samsung C&T Corporation 028260 | 373,000 KRW | 261,411 KRW | −30% |
| EMCOR Group EME | $775.04 | $549.47 | −29% |
| MasTec, Inc MTZ | $241.00 | $100.00 | −59% |
| Bouygues SA EN | €46.65 | €65.67 | +41% |
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