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Qben Infra AB (publ) (QBEN) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Qben Infra AB (publ) stock SEK 5.29, price SEK 5.58, that is 5.2% below the price, quality 29 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Industrials SE

QI Qben Infra AB (publ) logo Thin data Nov 10, 2026

Qben Infra AB (publ)

QBEN · ST
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Low debt
Revenue last quarter +38% vs. a year ago.
Fair value kr 5.29 · Fairly valued
Mixed Growth (revenue 3y +21.0 %/yr in SEK)
Quality 29/100
Loss-making · -16.9% net margin (TTM)
Negative free cash flow
Trails peers (3/9)
Narrow moat 8/100 · thin data
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

kr 16.50 kr 5.42 Fair Value kr 5.29 Nov 2024 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

23‑month range kr 5.42 – kr 16.50 · fair‑value band kr 3.97 – kr 6.61 · the kr 5.58 price screens above the kr 5.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Qben Infra AB (publ) engages in the infrastructure business in the Nordics. The company undertakes railway, energy infrastructure, telecommunication, electrification, construction and civil engineering, industrial building, and real estate projects.

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It provides testing, inspection, and certification services for infrastructure and industrial assets. Qben Infra AB (publ) has strategic cooperation agreement with Byhmgard AB (publ) to identify, develop, and execute Battery Energy Storage Systems (BESS) projects in Northern Europe.

The company was incorporated in 2001 and is based in Hägersten, Sweden. Qben Infra AB (publ) operates as a subsidiary of Rsg Stockholm Ab.

Stock analysis

Qben Infra AB (publ) (QBEN) currently trades at kr 5.58, while our estimate is kr 5.29, so the stock looks roughly fairly valued today (gap 5.5%).

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: kr 3.97 (bear) to kr 6.61 (bull), the price of kr 5.58 sits inside 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 29/100 (below-average quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Qben Infra AB (publ) reported revenue of 1.0B SEK in FY2025 versus 583M SEK in FY2022, a compound +21.0%/yr. Reported net income was −377M SEK in FY2025.

Key figures

Market cap 445M SEK (≈ $45.2M) Micro · P/S ratio 0.41 · EPS (TTM) kr −4.88 · Net margin −36.5% · Return on equity −65.1% · Return on assets (EBIT) −0.1% (4-year average) · Operating margin −7.6% · Revenue (TTM) 1.1B SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (low confidence).

What moves the price

The share trades about 56% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −5%, QBEN screens cheaper than that median.

Fair Value

Bear kr 3.97 Fair Value kr 5.29 Bull kr 6.61
Price kr 5.58 · Downside -5.2%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 29/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 15
How much profit the company makes from its sales and capital
Quality Growth 80
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 9
Debt, balance sheet and risk of trouble
Investment 33
Does it invest with discipline instead of growing at any price?
Low Volatility 35
How calm the share price moves, does not count
Price momentum 7
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 62
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Profit margin (trend) ⓘ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.
3.5% (2022) → −17.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Engineering & Construction · 823 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −5.2% · Below median
Profitability
Return on assets −17.9% · Bottom 25%
Net margin (12 months) −16.9% · Bottom 25%
Operating margin (12 months) −7.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 37.9% · Top 25%
Balance sheet
Debt / equity 0.01× · Lowest 25%

Valuation Multiplesvs Engineering & Construction median · lower = cheaper

P/B 1.71× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 0.40× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)26 · sector 29
FUTURE (revenue growth)100 · sector 20
PAST (return on equity)0 · sector 25
HEALTH (low debt)100 · sector 94
DIVIDEND (yield)0 · sector 42

Context: sector, industry, market

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.

Stock Price Fair Value vs Fair Value Compare
China State Construction Engineering Corporation 601668 ¥4.65 ¥13.95 +200% vs QBEN
Vinci SA DG €114.75 €186.68 +63% vs QBEN
Comfort Systems USA, Inc FIX $1,106 $1,122 +1% vs QBEN
EMCOR Group EME $645.39 $524.14 −19% vs QBEN
ACS, Actividades de Construcción y Servicios, S.A ACS €90.15 €62.21 −31% vs QBEN
Samsung C&T Corporation 028260 279,000 KRW 159,702 KRW −43% vs QBEN
HOCHTIEF Aktiengesellschaft HOT €366.00 €203.86 −44% vs QBEN
Larsen & Toubro Limited LT ₹4,185 ₹2,302 −45% vs QBEN
Ferrovial N.V FER $60.99 $23.22 −62% vs QBEN
Quanta Services, Inc PWR $583.14 $162.41 −72% vs QBEN

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Qben Infra AB (publ): fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Qben Infra AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/QBEN

Frequently asked questions

Is Qben Infra AB (publ) (QBEN) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is kr 5.29 versus a price of kr 5.58, about 5% lower (fairly valued).
What is the fair value of QBEN?
Our estimate for Qben Infra AB (publ) is kr 5.29 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 5.58.
What is the quality score of QBEN?
Qben Infra AB (publ) has a Quality Score of 29/100. 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 Qben Infra AB (publ) (QBEN)?
Our calculated price target is the estimate of kr 5.29 (as of Nov 10, 2026). Cautious scenario kr 3.97, optimistic scenario kr 6.61. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Qben Infra AB (publ) stock forecast for 2026?
Our estimate puts fair value at kr 5.29, about 5% lower versus a price of kr 5.58 (fairly valued). Cautious scenario kr 3.97, optimistic scenario kr 6.61. The calculation is refreshed regularly with new filings.
What is the revenue of Qben Infra AB (publ) (QBEN)?
Qben Infra AB (publ) reported trailing-twelve-month revenue of about 1.1B SEK (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Qben Infra AB (publ) (QBEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Qben Infra AB (publ) it is kr 5.29 per share (as of Nov 10, 2026), against a price of kr 5.58.
Is Qben Infra AB (publ) stock overvalued or undervalued in 2026?
As of Nov 10, 2026, QBEN trades above its calculated fair value: price kr 5.58, fair value kr 5.29, a gap of about −5% (fairly valued). 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 QBEN?
No. The price is what the market pays today (kr 5.58); the fair value is what the company's own numbers justify (kr 5.29). For Qben Infra AB (publ) the two are kr 0.2900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Qben Infra AB (publ) worth?
The market values Qben Infra AB (publ) at about 445M SEK (market capitalisation, as of Nov 10, 2026). Per share that is kr 5.58; our models calculate a fair value of kr 5.29 per share.
What do the bullish and bearish scenarios say about QBEN?
Our models span a range for Qben Infra AB (publ): cautious scenario kr 3.97, base kr 5.29, optimistic kr 6.61 per share (as of Nov 10, 2026, price kr 5.58). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Qben Infra AB (publ) (QBEN)?
Balance-sheet figures for Qben Infra AB (publ) (as of Nov 10, 2026): return on equity −65.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is QBEN from its 52-week high?
Qben Infra AB (publ) trades at kr 5.58, about 56% below its 52-week high of kr 12.65 and 3% above the low of kr 5.42 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of kr 5.29 is for.
Which stocks are comparable to Qben Infra AB (publ)?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, 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 Qben Infra AB (publ) stock attractive at the current price?
The data as of Nov 10, 2026: price kr 5.58, calculated fair value kr 5.29 (−5%), Quality Score 29/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Qben Infra AB (publ) 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 Qben Infra AB (publ) (QBEN)?
The closing price on Nov 10, 2026 was kr 5.58. Our estimate is kr 5.29, about 5% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Qben Infra AB (publ) right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Qben Infra AB (publ)

How large is the market capitalisation of Qben Infra AB (publ) (QBEN)?
The market capitalisation of Qben Infra AB (publ) is 445M SEK (≈ $45.2M). 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 Qben Infra AB (publ) (QBEN)?
The price-to-sales ratio of Qben Infra AB (publ) is 0.41 (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 Qben Infra AB (publ) (QBEN)?
Earnings per share at Qben Infra AB (publ) are kr −4.88. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Qben Infra AB (publ) (QBEN)?
The net margin of Qben Infra AB (publ) is −36.5% (fiscal year 2025). 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 Qben Infra AB (publ) (QBEN)?
The return on equity (ROE) of Qben Infra AB (publ) is −65.1% (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 Qben Infra AB (publ) (QBEN)?
On an EBIT basis the return on assets of Qben Infra AB (publ) is −0.1% (avg 4y). 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 Qben Infra AB (publ) (QBEN)?
The operating margin of Qben Infra AB (publ) is −7.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Qben Infra AB (publ) (QBEN)?
Revenue at Qben Infra AB (publ) is growing +37.9% versus a year earlier (3y avg +21.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Qben Infra AB (publ) (QBEN) generate?
The free cash flow of Qben Infra AB (publ) is −256M SEK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Qben Infra AB (publ) (QBEN) carry?
The net debt of Qben Infra AB (publ) is 690M SEK (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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