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Ogunsen AB (OGUN-B) Fair Value & Analysis

Industrials · SE · Market cap 265M SEK (≈ $27.7M) · ISIN SE0008406151

What is Ogunsen AB really worth?

OA Ogunsen AB OGUN-B · ST
Pricekr 22.40
Fair Valuekr 30.25
Upside+35.0%
Quality72/100

A solid business, trading 26% below our fair value of kr 30.25.

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Strengths

generates free cash flow

Risks

!Weak Growth (revenue 5y +4.6 %/yr)
!Thin margins · 3.6% net margin
!Mixed vs. peers (7/13)
!Moderate moat 49/100
!Evidence only medium, so the estimate is less certain

For context

·6.70% dividend yield
Evidence: Medium Range kr 22.69 – kr 37.81

Fair value as of: Aug 25, 2026

From 23 valuation models · updated 11 days ago

Share price −14.2% over the past month.

What runs behind every stock

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

What matters now

  • The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price sits below our cautious bear case: the market assumes less than even our pessimistic scenario.
  • Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Price vs Fair Value (5 years)

kr 37.34 kr 20.95 Fair Value kr 30.25 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 25, 2026.

How to read this chart

60‑month range kr 20.95 – kr 37.34 · fair‑value band kr 22.69 – kr 37.81 · the kr 22.40 price screens below the kr 30.25 fair value. Dashed = 300-day average. As of Aug 25, 2026.

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Analysis

Ogunsen AB (OGUN-B) currently trades at kr 22.40, while our model-based Fair Value estimate is kr 30.25, implying the stock looks roughly 25.9% undervalued today. The Quality Score stands at 72/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of kr 32.99 per share, and 18 of the 23 models we run sit above the kr 22.40 price. Bear case: the Asset-Based group reads lowest at kr 4.36, and 5 of the 23 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Ogunsen AB generated revenue of 443M SEK at a net margin of 3.2%. Revenue grew 0.7% year over year. It earns a return on equity of 21.2%. The balance sheet holds a net cash position of 26.0M SEK. Fundamentals as of Aug 25, 2026

Our scenario range runs from kr 22.69 (bear case) to kr 37.81 (bull case); at kr 22.40, the current price sits below 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 30% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 22% fair-value upside, at 35%, OGUN-B 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 best evidence kr 26.78 kr 34.10 kr 42.70 80
Growth DCF kr 27.00 kr 33.54 kr 40.86 77
Owner Earnings kr 23.32 kr 29.55 kr 36.85 75
All 23 models by family
DCF Models
FCF DCF best evidence kr 26.78 kr 34.10 kr 42.70 80
Owner Earnings kr 23.32 kr 29.55 kr 36.85 75
5Y Revenue Exit kr 22.70 kr 30.49 kr 39.92 71
5Y EBITDA Exit kr 27.70 kr 39.45 kr 52.54 73
5Y P/E Exit kr 24.96 kr 34.54 kr 44.05 69
10Y Revenue Exit kr 23.99 kr 30.65 kr 38.67 66
10Y EBITDA Exit kr 27.02 kr 35.84 kr 46.58 67
10Y P/E Exit kr 25.55 kr 32.99 kr 41.26 63
Earnings-Based
Graham-Dodd kr 9.79 kr 24.48 kr 31.76 65
PEG = 1.0 kr 4.48 kr 6.40 kr 8.31 57
EPV kr 14.04 kr 15.29 kr 16.30 70
Multiples
P/E Multiple kr 22.69 kr 30.25 kr 37.81 63
P/S Multiple kr 18.37 kr 24.49 kr 30.61 58
P/B Multiple kr 18.37 kr 24.49 kr 30.61 55
EV/EBIT kr 27.22 kr 35.07 kr 42.91 63
EV/EBITDA kr 32.07 kr 41.53 kr 50.99 64
EV/Revenue kr 20.48 kr 27.68 kr 34.88 52
Asset-Based
NCAV (Graham) kr 3.25 kr 4.36 kr 6.50 51
Growth DCF
Growth DCF kr 27.00 kr 33.54 kr 40.86 77
Rev-Margin DCF kr 22.70 kr 30.89 kr 39.92 71
Economic Profit
Residual Income kr 7.37 kr 9.81 kr 29.97 65
ROIC Compounder kr 14.32 kr 15.90 kr 17.38 70
Growth Earnings
Growth-Adj P/E kr 17.48 kr 24.97 kr 32.46 67

Widest divergence: DCF Models (kr 32.99) versus Asset-Based (kr 4.36). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 18.1 as of Jun 8, 2026
P/S ratio 0.58 P/E × margin
EPS (TTM) kr 1.49 price ÷ EPS = P/E 18.1
Dividend yield 6.7% payout 101%
Net margin 3.2% FY2025
Return on equity 21.2% TTM
More key figures
Profitability
Return on assets (EBIT) 24.0% avg 5y
Operating margin 5.3% TTM
Growth
Revenue (TTM) 443M SEK TTM
Revenue growth (YoY) +0.7% 3y avg −4.3%
EPS growth (YoY) +75.6%
Balance sheet & cash flow
Free cash flow 28.7M SEK FY2025
Net cash 26.0M SEK FY2025

Figures from reported company fundamentals · as of Aug 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 71 · Market factors (momentum, volatility) 39

Profitability 59
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 12
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

Ogunsen AB (publ) provides recruitment and consultancy services for specialists and managers in the economics and finance as well as related sectors in Sweden. It also offers executive search and consulting services. The company was formerly known as SJR in Scandinavia AB (publ) and changed its name to Ogunsen AB (publ) in November 2021.

Full company description

Ogunsen AB (publ) provides recruitment and consultancy services for specialists and managers in the economics and finance as well as related sectors in Sweden. It also offers executive search and consulting services. The company was formerly known as SJR in Scandinavia AB (publ) and changed its name to Ogunsen AB (publ) in November 2021. Ogunsen AB (publ) was incorporated in 1992 and is based in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ogunsen AB reported revenue of 443M SEK in FY2025 versus 420M SEK in FY2021, a compound +1.3%/yr. Reported net income was 14.2M SEK in FY2025, compounding −21.1%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
443M SEK
Latest YoY
−4.6%
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.
−4.3%
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.
+4.6%
Avg. revenue growth/yr (17Y) 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.
+6.9%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+1.6% (−5.1 + 6.7)
Revenue +1.3%/yr
FY21 420M SEK
FY22 505M SEK
FY23 512M SEK
FY24 464M SEK
FY25 443M SEK
Net income −21.1%/yr
FY21 36.7M SEK
FY22 48.9M SEK
FY23 37.3M SEK
FY24 21.0M SEK
FY25 14.2M SEK
Character of growth · EPS growth decomposed (2014-2025) −1.0 % p.a.
Revenue per share +4.1 %

of which total revenue +4.4 % · buybacks/dilution −0.3 %

EBIT margin −5.2 %
Tax rate +0.2 %
Residual (interest, one-offs) +0.0 %

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). "Ogunsen AB Fair Value". https://www.fairvalue-calculator.com/stock/OGUN-B

Peer Group

Staffing & Employment Services · 80 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 72 · Top 25%
Fair Value upside +35% · Above median
Return on equity (TTM) 23% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 5% · Above median
Revenue growth −2% · Below median
Dividend yield (TTM) 6.7% · Top 25%

Valuation Multiples vs Staffing & Employment Services median · lower = cheaper

P/E (TTM) 18.1× · Pricier than median
P/B 4.13× · Pricier than 75% of peers
P/S (TTM) 0.60× · Pricier than 75% of peers
P/FCF 1.0× · Cheaper than 75% of peers
EV/EBITDA 10.4× · Pricier than median

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
VALUE80 · sector 49
FUTURE0 · sector 1
PAST90 · sector 41
HEALTH0 · sector 95
DIVIDEND0 · sector 58

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

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FESCO Group 600861 ¥13.02 ¥45.46 +249%
Grupa Pracuj S.A GPP 53.50 PLN 65.45 PLN +22%
Barrett Business Services, Inc BBSI $32.95 $38.11 +16%
Maharah for Human Resources Company 1831 4.68 SAR 6.87 SAR +47%

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Frequently asked questions

Is Ogunsen AB (OGUN-B) overvalued or undervalued?
As of Aug 25, 2026, our model estimates a fair value of kr 30.25 versus a price of kr 22.40, about +35% upside (undervalued).
What is the fair value of OGUN-B?
Our model-based fair value for Ogunsen AB is kr 30.25 (as of Aug 25, 2026), built from audited fundamentals. The current price: kr 22.40.
What is the quality score of OGUN-B?
Ogunsen AB has a Quality Score of 72/100. 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 Ogunsen AB (OGUN-B)?
Ogunsen AB reported trailing-twelve-month revenue of about 443M SEK (latest available figure, as of Aug 25, 2026).
What is the net profit margin of OGUN-B?
The net profit margin of Ogunsen AB is about 3.2%, meaning it keeps roughly 3.2% of revenue as net income. Based on the latest reported figures.
Does Ogunsen AB pay a dividend?
Ogunsen AB currently shows a dividend yield of about 6.70% relative to its recent price (as of Aug 25, 2026).
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