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Peab AB (PEAB-B) Fair Value & Analysis

Industrials · SE · Market cap 25.0B SEK (≈ $2.6B) · ISIN SE0000106205

What is Peab AB really worth?

PA Peab AB PEAB-B · ST
Pricekr 100.50
Fair Valuekr 116.44
Upside+15.9%
Quality59/100

A solid business, trading 14% below our fair value of kr 116.44.

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Strengths

Low debt · generates free cash flow
Ranks above peers (9/15)

Risks

!Weak Growth (revenue 5y −0.4 %/yr)
!Thin margins · 2.7% net margin
!Narrow moat 39/100
!Weak on future: 1 out of 100

For context

·3.28% dividend yield
Evidence: High Range kr 83.92 – kr 145.55

Fair value as of: Aug 19, 2026

From 23 valuation models · updated 17 days ago

Share price +5.7% 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 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)

kr 104.04 kr 36.40 Fair Value kr 116.44 Jun 2021 Sep 2026

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

60‑month range kr 36.40 – kr 104.04 · fair‑value band kr 83.92 – kr 145.55 · the kr 100.50 price screens below the kr 116.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Peab AB (PEAB-B) currently trades at kr 100.50, while our model-based Fair Value estimate is kr 116.44, implying the stock looks roughly 13.7% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of kr 128.65 per share, and 13 of the 23 models we run sit above the kr 100.50 price. Bear case: the Asset-Based group reads lowest at kr 44.65, and 10 of the 23 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Peab AB generated revenue of 58.6B SEK at a net margin of 2.7%. Revenue grew 0.1% year over year. It earns a return on equity of 9.6%. Net debt stands at 8.5B SEK. Fundamentals as of Aug 19, 2026

Our scenario range runs from kr 83.92 (bear case) to kr 145.55 (bull case); at kr 100.50, 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 4% below its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 16%, PEAB-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 1.45 per share, which is 1.2 % 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.

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 kr 112.61 kr 165.39 kr 239.86 80
Growth DCF kr 116.46 kr 165.94 kr 232.99 79
Owner Earnings kr 65.85 kr 98.67 kr 144.96 76
All 23 models by family
DCF Models
FCF DCF kr 112.61 kr 165.39 kr 239.86 80
Owner Earnings kr 65.85 kr 98.67 kr 144.96 76
5Y Revenue Exit kr 84.30 kr 126.28 kr 177.08 73
5Y EBITDA Exit kr 116.27 kr 182.69 kr 256.12 75
5Y P/E Exit kr 82.55 kr 123.21 kr 162.94 71
10Y Revenue Exit kr 91.44 kr 130.71 kr 177.69 67
10Y EBITDA Exit kr 113.77 kr 168.68 kr 234.86 68
10Y P/E Exit kr 92.76 kr 128.65 kr 167.45 65
Earnings-Based
Graham-Dodd kr 37.71 kr 83.93 kr 107.19 66
PEG = 1.0 kr 13.55 kr 19.35 kr 25.16 57
EPV kr 64.58 kr 77.17 kr 88.19 74
Multiples
P/E Multiple kr 87.33 kr 116.44 kr 145.55 63
P/S Multiple kr 70.70 kr 94.26 kr 117.83 58
P/B Multiple kr 70.70 kr 94.26 kr 117.83 55
EV/EBIT kr 107.32 kr 146.76 kr 186.20 66
EV/EBITDA kr 137.18 kr 186.57 kr 235.96 67
EV/Revenue kr 73.45 kr 109.64 kr 145.83 53
Asset-Based
NCAV (Graham) kr 33.32 kr 44.65 kr 66.65 54
Growth DCF
Growth DCF kr 116.46 kr 165.94 kr 232.99 79
Rev-Margin DCF kr 84.30 kr 128.08 kr 174.86 73
Economic Profit
Residual Income kr 56.00 kr 60.41 kr 72.96 76
ROIC Compounder kr 64.58 kr 80.41 kr 98.90 72
Growth Earnings
Growth-Adj P/E kr 65.10 kr 93.00 kr 120.91 67

Widest divergence: DCF Models (kr 128.65) versus Asset-Based (kr 44.65). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 16.2 as of Jun 8, 2026
P/S ratio 0.38 P/E × margin
EPS (TTM) kr 5.43 price ÷ EPS = P/E 16.2
Dividend yield 3.3% payout 60.8%
Net margin 2.3% FY2025
Return on equity 9.6% TTM
More key figures
Profitability
Return on assets (EBIT) 5.6% avg 5y
Operating margin −1.4% TTM
Growth
Revenue (TTM) 58.6B SEK TTM
Revenue growth (YoY) +0.1% 3y avg −1.8%
EPS growth (YoY) −25.2%
Balance sheet & cash flow
Free cash flow 2.9B SEK FY2025
Net debt 8.5B SEK FY2025 · ≈ 2.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 58 · Market factors (momentum, volatility) 65

Profitability 43
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 87
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

Peab AB (publ) operates as a construction and civil engineering company in Sweden, Norway, Finland, Denmark, and internationally. It operates through Construction, Civil Engineering, Industry, and Project Development segments.

Full company description

Peab AB (publ) operates as a construction and civil engineering company in Sweden, Norway, Finland, Denmark, and internationally. It operates through Construction, Civil Engineering, Industry, and Project Development segments. The Construction segment constructs houses, and public and commercial properties; and provides renovation, extension, and construction maintenance services. The Civil Engineering segment builds and maintains infrastructure, such as roads, railroads, bridges, and ports as well as pedestrian and bicycle paths. This segment also undertakes landscaping and pipelining, foundation work, and various types of construction; operates and maintains national and municipal highways and street networks, as well as tends parks and outdoor property; and operates water and wastewater networks. The Industry segment offers products and services for construction and civil engineering projects. It provides mineral aggregates, concrete and paving products, and temporary electricity to prefabricated concrete elements and frame assembly. This segment also rents cranes and machines; distributes binders to the concrete industry; provides transportation services; and recycles excavated soil. The Project Development segment acquires, develops, and divests residential, commercial, and public properties; and develops housing, such as tenant-owner, condominium, and rental apartment buildings, as well as single home. Peab AB (publ) was incorporated in 1955 and is headquartered in Förslöv, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Peab AB reported revenue of 58.6B SEK in FY2025 versus 58.9B SEK in FY2021, a compound −0.1%/yr. Reported net income was 1.4B SEK in FY2025, compounding −12.9%/yr from FY2021.

Growth Quality 37/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
58.6B SEK
Latest YoY
−4.4%
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.
−1.8%
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.
−0.4%
Avg. revenue growth/yr (23Y) 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.
+4.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−6.6% · in SEK
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−9.9%
Dividend yield3.3%
Trend 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.5Y −9.9% vs 10Y 3.2%, flattening
Operating margin (EBIT) 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.6.6% (2020) → 3.9% (2025) · falling
Worst earnings drop68% (2013) · in SEK
Revenue −0.1%/yr
FY21 58.9B SEK
FY22 61.9B SEK
FY23 61.6B SEK
FY24 61.3B SEK
FY25 58.6B SEK
Net income −12.9%/yr
FY21 2.4B SEK
FY22 1.8B SEK
FY23 2.0B SEK
FY24 2.4B SEK
FY25 1.4B SEK
Character of growth · EPS growth decomposed (2014-2025) +5.8 % p.a.
Revenue per share +3.7 %

of which total revenue +3.4 % · buybacks/dilution +0.3 %

EBIT margin +2.3 %
Tax rate −0.5 %
Residual (interest, one-offs) +0.2 %

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

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.

Quality Score 59 · Above median
Fair Value upside +16% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 3% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) −1% · Bottom 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 3.3% · Above median
Debt / equity 0.36× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 16.2× · Cheaper than median
P/B 1.52× · Pricier than median
P/S (TTM) 0.43× · Cheaper than median
P/FCF 0.9× · Cheaper than median
EV/EBITDA 7.6× · Cheaper than median
PEG 4.06× · Pricier than 75% of peers

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
VALUE55 · sector 17
FUTURE1 · sector 12
PAST38 · sector 26
HEALTH82 · sector 94
DIVIDEND66 · sector 39

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

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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Frequently asked questions

Is Peab AB (PEAB-B) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of kr 116.44 versus a price of kr 100.50, about +16% upside (undervalued).
What is the fair value of PEAB-B?
Our model-based fair value for Peab AB is kr 116.44 (as of Aug 19, 2026), built from audited fundamentals. The current price: kr 100.50.
What is the quality score of PEAB-B?
Peab AB has a Quality Score of 59/100. 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 Peab AB (PEAB-B)?
Peab AB reported trailing-twelve-month revenue of about 58.6B SEK (latest available figure, as of Aug 19, 2026).
What is the net profit margin of PEAB-B?
The net profit margin of Peab AB is about 2.7%, meaning it keeps roughly 2.7% of revenue as net income. Based on the latest reported figures.
Does Peab AB pay a dividend?
Peab AB currently shows a dividend yield of about 3.28% relative to its recent price (as of Aug 19, 2026).
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