Investment AB Oresund (ORES) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Investment AB Oresund stock SEK 110, price SEK 153, that is 28.1% below the price, quality 75 out of 100. Rating: overvalued. Calculated from audited financials with 2 of our 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. As of Nov 3, 2026.
How to read this chart
60‑month range kr 79.15 – kr 157.60 · fair‑value band kr 82.74 – kr 137.89 · the kr 153.40 price screens above the kr 110.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Investment AB Öresund (publ) operates as an investment company that engages in the asset management activities in Sweden. The company primarily invests in Nordic securities. The company was formerly known as AB Sjö-Öresund and changed its name to Investment AB Öresund.
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Investment AB Öresund (publ) was founded in 1890 and is based in Stockholm, Sweden.
Stock analysis
Investment AB Oresund (ORES) currently trades at kr 153.40, while our model-based Fair Value estimate is kr 110.31, 28% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at high.
Scenario range: kr 82.74 (bear) to kr 137.89 (bull), the price of kr 153.40 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 75/100 (high quality), in the Financial Services sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Investment AB Oresund reported revenue of 172M SEK in FY2025 versus 1.3B SEK in FY2021, a compound −39.4%/yr. Reported net income was 860M SEK in FY2025, compounding −9.2%/yr from FY2021.
Key figures
Market cap 6.8B SEK (≈ $691M) Small · P/E ratio 5.6 · P/S ratio 5.37 · EPS (TTM) kr 27.22 · Dividend yield 4.8% · Net margin 97.7% · Return on equity 23.3% · Return on assets (EBIT) 2.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 86 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 42% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −28%, ORES screens richer than that median.
Fair Value models
Bearkr 82.74Fair Value kr 110.31Bullkr 137.89
Price kr 153.40 · Downside -28.1%
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 16.94 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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
−30.7%
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.
−1.7%
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.
−4.9%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+28.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.6%
Dividend (yield on the price)4.8%
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.0.4% vs −2.8%, picking up
Profit margin 2019 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.99% → 491%
2025 sits 159% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 11.6%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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).
+26.1%
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 +23.6% a year for the price.
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.Asset Management · 588 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score75 · Top 25%
Fair Value upside−28.1% · Bottom 25%
Profitability
Return on equity (12 months)23.3% · Top 25%
Return on assets16.1% · Top 25%
Net margin (12 months)97.7% · Top 25%
Operating margin (12 months)93.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−80.8% · Bottom 25%
Dividend yield (12 months)4.8% · Above median
Valuation Multiplesvs Asset Management 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). "Investment AB Oresund Fair Value". https://www.fairvalue-calculator.com/stock/ORES
Frequently asked questions
Is Investment AB Oresund (ORES) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of kr 110.31 versus a price of kr 153.40, about 28% lower (overvalued).
What is the fair value of ORES?
Our model-based fair value for Investment AB Oresund is kr 110.31 (as of Nov 3, 2026), built from audited fundamentals. The current price: kr 153.40.
What is the quality score of ORES?
Investment AB Oresund has a Quality Score of 75/100. 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 Investment AB Oresund (ORES)?
Our model-based price target is the fair value of kr 110.31 (as of Nov 3, 2026) from 2 valuation models. Cautious scenario kr 82.74, optimistic scenario kr 137.89. It is a calculation from audited fundamentals, not an analyst target.
What is the Investment AB Oresund stock forecast for 2026?
Our models put fair value at kr 110.31, about 28% lower versus a price of kr 153.40 (overvalued). Cautious scenario kr 82.74, optimistic scenario kr 137.89. The calculation is refreshed regularly with new filings.
Does Investment AB Oresund pay a dividend?
Investment AB Oresund currently shows a dividend yield of 4.82% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Investment AB Oresund (ORES) and when is the ex-dividend date?
Investment AB Oresund pays a dividend of kr 7.40 per share a year, a dividend yield of 4.8%. The last ex-dividend date was Oct 21, 2026. A dividend has been paid every year since 2019. The payout ratio is 27.2% of earnings. Free cash flow covers the dividend 0.47 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Investment AB Oresund (ORES)?
For today's price to be fair in a discounted-cash-flow model, Investment AB Oresund would have to grow free cash flow by +26.1 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 6 years revenue grew -15.1 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of ORES use?
Our models discount Investment AB Oresund at 10.1 %: a base by market capitalisation (small), damped by beta 0.68, 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 Investment AB Oresund that is +26.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Investment AB Oresund (ORES) delivered so far?
Over the past 6 years revenue at Investment AB Oresund grew -15.1 % a year. The price currently implies free-cash-flow growth of +26.1 % per 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 Investment AB Oresund (ORES) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Investment AB Oresund (+26.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Investment AB Oresund (ORES)?
The free-cash-flow yield on the price is 2.29 %: that much free cash flow Investment AB Oresund produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Investment AB Oresund (ORES)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Investment AB Oresund it is kr 110.31 per share (as of Nov 3, 2026), against a price of kr 153.40. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is Investment AB Oresund stock overvalued or undervalued in 2026?
As of Nov 3, 2026, ORES trades above its calculated fair value: price kr 153.40, fair value kr 110.31, a gap of about −28% (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 ORES?
No. The price is what the market pays today (kr 153.40); the fair value is what the company's own numbers justify (kr 110.31). For Investment AB Oresund the two are kr 43.09 per share apart. That gap is exactly why we show both numbers side by side.
How much is Investment AB Oresund worth?
The market values Investment AB Oresund at about 6.8B SEK (market capitalisation, as of Nov 3, 2026). Per share that is kr 153.40; our models calculate a fair value of kr 110.31 per share.
What do the bullish and bearish scenarios say about ORES?
Our models span a range for Investment AB Oresund: cautious scenario kr 82.74, base kr 110.31, optimistic kr 137.89 per share (as of Nov 3, 2026, price kr 153.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ORES?
Investment AB Oresund trades at a price-to-earnings ratio of 5.6 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 110.31 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings: 11.8. Other multiples: PEG 1.8, P/B 1.3, P/S 5.4, EV/EBITDA 5.6.
What is the PEG ratio of ORES?
The PEG ratio of Investment AB Oresund is 1.78 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Investment AB Oresund (ORES)?
Balance-sheet figures for Investment AB Oresund (as of Nov 3, 2026): return on equity 23.3%. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is ORES from its 52-week high?
Investment AB Oresund trades at kr 153.40, about 3% below its 52-week high of kr 157.60 and 42% above the low of kr 108.40 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 110.31 is for.
Which stocks are comparable to Investment AB Oresund?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, KKR & Co, Apollo Global Management, 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 Investment AB Oresund stock attractive at the current price?
The data as of Nov 3, 2026: price kr 153.40, calculated fair value kr 110.31 (−28%), Quality Score 75/100, from 2 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 ORES calculated?
We run Investment AB Oresund through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of kr 110.31 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Investment AB Oresund 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 Investment AB Oresund (ORES)?
The closing price on Nov 6, 2026 was kr 153.40. Our model-based fair value is kr 110.31, about 28% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Investment AB Oresund right now?
A high-quality business (quality 75/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (kr 137.89). The favourable scenario is already priced in. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Investment AB Oresund (ORES) come from?
Earnings per share at Investment AB Oresund grew −0.5 % a year from 2013 to 2023. Broken into its drivers: revenue per share −0.6 %, EBIT margin −0.2 %, tax rate +0.0 %, residual (interest, one-offs) +0.2 %. 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 Investment AB Oresund
How large is the market capitalisation of Investment AB Oresund (ORES)?
The market capitalisation of Investment AB Oresund is 6.8B SEK (≈ $691M). 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 Investment AB Oresund (ORES)?
The price-to-sales ratio of Investment AB Oresund is 5.37 (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 Investment AB Oresund (ORES)?
Earnings per share at Investment AB Oresund are kr 27.22 (price ÷ EPS = P/E 5.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Investment AB Oresund (ORES)?
The dividend yield of Investment AB Oresund is 4.8% (payout 27.2%). 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 Investment AB Oresund (ORES)?
The net margin of Investment AB Oresund is 97.7% (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 Investment AB Oresund (ORES)?
The return on equity (ROE) of Investment AB Oresund is 23.3% (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 Investment AB Oresund (ORES)?
On an EBIT basis the return on assets of Investment AB Oresund is 2.5% (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 Investment AB Oresund (ORES)?
The operating margin of Investment AB Oresund is 93.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Investment AB Oresund (ORES)?
Revenue at Investment AB Oresund is growing −80.8% versus a year earlier. 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 Investment AB Oresund (ORES)?
Earnings per share at Investment AB Oresund are growing −82.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Investment AB Oresund (ORES) hold?
Investment AB Oresund holds more cash than debt, 52.2M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 3, 2026