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Polygiene Group (POLYG) Fair Value & Analysis

Basic Materials · SE · Market cap 182M SEK

PG Polygiene Group POLYG · ST
Pricekr 4.64
Fair Valuekr 2.16
Upside-53.5%
Quality49/100
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Expensive Growth
Loss-making · -5.0% net margin
Low debt · negative free cash flow
Trails peers (3/11)
Narrow moat 17/100
Evidence: Low Range kr 2.08 – kr 2.22 Share as image

Fair value as of: Jul 20, 2026

From 6 valuation models · updated 21 days ago

Fair value updated Jul 20, 2026, revised from kr 1.08 to kr 2.16 (+100.0%) since Jul 18, 2026. Share price −7.0% over the past month.

Below-average quality, and screening another 53% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 2.22). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (kr 2.08 to kr 2.22), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

kr 51.47 kr 4.18 Fair Value kr 2.16 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range kr 4.18 – kr 51.47 · fair‑value band kr 2.08 – kr 2.22 · the kr 4.64 price screens above the kr 2.16 fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Polygiene Group (POLYG) currently trades at kr 4.64, while our model-based Fair Value estimate is kr 2.16, implying the stock looks roughly 53.5% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Polygiene Group generated revenue of 136M SEK at a net margin of -5.0%. Revenue declined 25.2% year over year. It earns a return on equity of -2.3%. The balance sheet holds a net cash position of 34.2M SEK. Fundamentals as of Jul 20, 2026

Our scenario range runs from kr 2.08 (bear case) to kr 2.22 (bull case); at kr 4.64, the current price sits above 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 66% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -53%, POLYG screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
ROIC Compounder kr 1.10 kr 1.10 kr 1.10 72
EPV kr 1.10 kr 1.10 kr 1.10 59
EV/EBITDA kr 2.29 kr 2.69 kr 3.10 54
All 6 models by family
Earnings-Based
EPV kr 1.10 kr 1.10 kr 1.10 59
Multiples
EV/EBIT kr 1.17 kr 1.20 kr 1.24 53
EV/EBITDA kr 2.29 kr 2.69 kr 3.10 54
EV/Revenue kr 1.15 kr 1.19 kr 1.23 43
Asset-Based
NCAV (Graham) kr 3.78 kr 5.07 kr 7.56 50
Economic Profit
ROIC Compounder kr 1.10 kr 1.10 kr 1.10 72

Widest divergence: Asset-Based (kr 5.07) versus Earnings-Based (kr 1.10). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) 136M SEK
Revenue growth (YoY) -25.2%
Net margin -5.0%
Return on equity -2.3%
Free cash flow −11.0M SEK FY2025
Operating margin 3.3%
More key figures
EPS (TTM) kr -0.1800
EPS growth (YoY) +100%
Net cash 34.2M SEK FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 50 · Market factors (momentum, volatility) 5

Profitability 16
Margins and returns on capital today
Quality Growth 13
Are margins and returns improving?
Cashflow 28
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 9
Calm price path (market factor)
Momentum 4
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 96
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.

About the company

Polygiene Group AB provides antimicrobial technologies for textiles and other hard surfaces in the Asia Pacific, Europe, the Middle East, Africa, the United States, and internationally. It operates through two segments: Polygiene and Addmaster.

Full company description

Polygiene Group AB provides antimicrobial technologies for textiles and other hard surfaces in the Asia Pacific, Europe, the Middle East, Africa, the United States, and internationally. It operates through two segments: Polygiene and Addmaster. The company offers antimicrobial, anti-viral, and odor control solutions, including OdorCrunch, StayFresh, ScentMaster, ViralOff, BioMaster, and VeriMaster under the Polygiene brand. It serves partners across various categories, such as sports and outdoors, fashion and lifestyle, workwear, hospitality, home and pets, healthcare, water, industrial, and paper and packaging. The company was formerly known as Polygiene AB (publ.) and changed its name to Polygiene Group AB in June 2022. Polygiene Group AB was founded in 2005 and is headquartered in Malmö, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Polygiene Group reported revenue of kr 147M in FY2025 versus kr 182M in FY2021, a compound −5.2%/yr. Reported net income was −kr 5.6M in FY2025.

Growth Quality 33/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
147M SEK
Latest YoY
−6.6%
Avg. 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.
−5.5%
Avg. 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.
+11.8%
Avg. growth/yr (13Y) 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.
+17.2%
Revenue −5.2%/yr
FY21 kr 182M
FY22 kr 174M
FY23 kr 114M
FY24 kr 157M
FY25 kr 147M
Net income
FY21 kr 32.8M
FY22 kr 8.4M
FY23 −kr 322M
FY24 kr 16.8M
FY25 −kr 5.6M

POLYG screens 53% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Polygiene Group Fair Value". https://www.fairvalue-calculator.com/stock/POLYG

Peer Group

Specialty Chemicals · 673 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 49 · Below median
Fair Value upside −53% · Below median
Return on assets -1% · Bottom 25%
Net margin (TTM) -5% · Bottom 25%
Operating margin (TTM) 3% · Below median
Revenue growth -25% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.14× · Cheaper than 75% of peers

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.

VALUE 0 · sector 0
FUTURE 0 · sector 19
PAST 0 · sector 23
HEALTH 100 · sector 95
DIVIDEND 0 · sector 25

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Polygiene Group (POLYG) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of kr 2.16 versus a price of kr 4.64, about −53% (overvalued).
What is the fair value of POLYG?
Our model-based fair value for Polygiene Group is kr 2.16 (as of Jul 20, 2026), built from audited fundamentals. The current price is kr 4.64.
What is the quality score of POLYG?
Polygiene Group has a Quality Score of 49/100. 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 Polygiene Group (POLYG)?
Polygiene Group reported trailing-twelve-month revenue of about 136M SEK (latest available figure, as of Jul 20, 2026).
What is the net profit margin of POLYG?
The net profit margin of Polygiene Group is about -5.0%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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