QleanAir AB (QAIR) Fair Value & Analysis
Industrials · SE · Market cap 290M SEK
Fair value as of: Jul 20, 2026
From 22 valuation models · updated 21 days ago
Share price −5.2% over the past month.
A solid business, screening 104% undervalued on our models.
What matters now
- The price is below even our cautious bear case (kr 27.31). The market is more pessimistic than our downside scenario.
- Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (kr 27.31 to kr 49.27) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
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 13.05 – kr 70.98 · fair‑value band kr 27.31 – kr 49.27 · the kr 19.15 price screens below the kr 39.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
QleanAir AB (QAIR) currently trades at kr 19.15, while our model-based Fair Value estimate is kr 39.07, implying the stock looks roughly 104.0% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, QleanAir AB generated revenue of 455M SEK at a net margin of 6.1%. Revenue grew 9.1% year over year. It earns a return on equity of 13.4%. Net debt stands at 119M SEK. Fundamentals as of Jul 20, 2026
Our scenario range runs from kr 27.31 (bear case) to kr 49.27 (bull case); at kr 19.15, 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 36% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 104%, QAIR 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.
All 22 models by family
Widest divergence: DCF Models (kr 37.05) versus Asset-Based (kr 9.68). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 33
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
QleanAir AB (publ) provides air cleaning solutions for indoor environments in Sweden and internationally. It offers freestanding air cleaners for professional environments; freestanding smoking cabins for protection against secondhand smoke; and freestanding room-within-a-room turnkey cleanroom solutions under the QleanAir and QleanSpace names.
Full company description
QleanAir AB (publ) provides air cleaning solutions for indoor environments in Sweden and internationally. It offers freestanding air cleaners for professional environments; freestanding smoking cabins for protection against secondhand smoke; and freestanding room-within-a-room turnkey cleanroom solutions under the QleanAir and QleanSpace names. The company's solutions are used in warehouses and logistics centers, schools, offices, high security facilities and institutions, transport and airports, hotels, casinos, and restaurants, as well as food, manufacturing, assembly, healthcare, drug preparation, pharmaceutical, manufacturing, BioTech, MedTech, and life science industries. The company was formerly known as QleanAir Holding AB (publ) and changed its name to QleanAir AB (publ) in July 2021. QleanAir AB (publ) was founded in 1988 and is headquartered in Solna, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
QleanAir AB reported revenue of kr 455M in FY2025 versus kr 451M in FY2021, a compound +0.2%/yr. Reported net income was kr 27.9M in FY2025, compounding −17.2%/yr from FY2021.
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Peer Group
Pollution & Treatment Controls · 91 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 Pollution & Treatment Controls median · lower = cheaper
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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Pollution & Treatment Controls stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veralto Corporation VLTO | $94.21 | $69.11 | -27% |
| Zurn Elkay Water Solutions Corporation ZWS | $47.63 | $24.92 | -48% |
| Canmax Technologies Co 300390 | ¥57.02 | ¥10.41 | -82% |
| CECO Environmental Corp CECO | $83.63 | $15.19 | -82% |
| Fujian Longking Co 600388 | ¥17.58 | ¥15.59 | -11% |
| Munters Group MTRS | kr 166.60 | kr 16.90 | -90% |
| China Conch Venture Holdings 0586 | HK$8.83 | HK$14.14 | +60% |
| Mega Union Technology Inc 6944 | 1,005 TWD | 539.58 TWD | -46% |
| MayAir Technology (China) Co 688376 | ¥96.57 | ¥18.80 | -81% |
| Shanghai Emperor of Cleaning Hi-Tech Co 603200 | ¥38.97 | ¥5.73 | -85% |
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Frequently asked questions
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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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