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Alleima AB (SAMHF) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Alleima AB $4.74, price $11.82, upside -59.9%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Basic Materials · US · ISIN SE0017615644

AA Alleima AB logo Some data Sep 24, 2026

Alleima AB

SAMHF · US

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value $4.74 · Strongly overvalued (−59.9%)
!Quality 58/100
!Mixed Growth (revenue 5y +6.0 %/yr)
!Thin margins · 3.1% net margin (TTM)
✓Low debt · generates free cash flow
!Narrow moat 31/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

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

Price vs Fair Value

$12.11 $3.07 Fair Value $4.74 Dec 2022 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

45‑month range $3.07 – $12.11 · fair‑value band $3.62 – $5.76 · the $11.82 price screens above the $4.74 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Alleima AB (publ) manufactures and sells stainless steels, special alloys, medical wires and components, and electric heating systems in Europe, North America, Asia, and internationally. It operates through three divisions: Tube, Kanthal, and Strip.

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Alleima AB (publ) manufactures and sells stainless steels, special alloys, medical wires and components, and electric heating systems in Europe, North America, Asia, and internationally. It operates through three divisions: Tube, Kanthal, and Strip. The company offers tubes for extraction and production of oil and gas, advanced stainless steel, umbilical tubes, control lines, corrosion-resistant alloys, and oil country tubular goods; solid and hollow bar, high-pressure and composite tubing, semi-finished ingots and blooms, and billets; hydraulic and instrumentation tubing, heat exchangers tubing, process piping, high-temperature applications, and high-pressure equipment for chemical and petrochemical processes; metallic and ceramic heating elements, and diffusion cassettes; and lithium-ion batteries, ceramics and steels, and various electronic appliances. It also provides stainless steel for razor blades, knives, cutting tools, compressor valve steel, and heating material; ultra fine wire and wire based components for glucose monitors, pacemakers, neurostimulation, precision strip steel, and small diameter tubing; stainless steel and titan tubes for use in aircraft hydraulic systems and jet engines, as well as gasoline direct injection tubes for cars and trucks; drill steel for hydraulic rock drilling rigs in mines and infrastructure construction works; steam generator tubing; cladding tubes; nuclear tubes and pipes; and tubes for hydrogen applications, concentrated solar power, geothermal energy, bioenergy and biofuels, offshore wind, carbon capture and storage, and coated strip steel for fuel cells and electrolyzers. The company serves oil and gas, industrial, chemical and petrochemical, industrial heating, medical, transportation, mining and construction, nuclear, and hydrogen and renewable energy industries. The company was founded in 1862 and is headquartered in Sandviken, Sweden.

Stock analysis

Alleima AB (SAMHF) currently trades at $11.82, while our model-based Fair Value estimate is $4.74, 59.9% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of $4.93 per share, and 0 of the 22 models we run sit above the $11.82 price.

Bear case: the Earnings-Based group reads lowest at $2.58, and 22 of the 22 models stay below the price. Evidence for this calculation is medium.

Scenario range: $3.62 (bear) to $5.76 (bull), the price of $11.82 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 58/100 (solid quality), in the Basic Materials sector.

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

Alleima AB reported revenue of 18.6B SEK in FY2025 versus 13.8B SEK in FY2021, a compound +7.7%/yr. Reported net income was 671M SEK in FY2025, compounding −13.6%/yr from FY2021.

Key figures

Market cap $3.0B · P/E ratio 39.5 · P/S ratio 1.42 · EPS (TTM) $0.2400 · Net margin 3.6% · Return on equity 3.4% · Return on assets (EBIT) 7.1% · Revenue (TTM) 19.2B SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).

What moves the price

The share trades about 2% below its 52-week high and 73% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at −60%, SAMHF screens richer than that median.

Fair Value models

Bear $3.62 Fair Value $4.74 Bull $5.76
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.1815 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. Evidence ⓘEvidence = 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.
Highest evidence
FCF DCF $3.70 $4.84 $6.97 81
Growth DCF $3.83 $4.93 $6.83 79
Owner Earnings $2.16 $2.77 $3.92 77
All 22 models by family
DCF Models
FCF DCF $3.70 $4.84 $6.97 81
Owner Earnings $2.16 $2.77 $3.92 77
5Y Revenue Exit $3.71 $5.23 $7.47 73
5Y EBITDA Exit $4.69 $6.90 $9.88 75
5Y P/E Exit $3.46 $4.81 $6.45 71
10Y Revenue Exit $3.59 $4.78 $6.10 68
10Y EBITDA Exit $4.26 $5.83 $7.55 69
10Y P/E Exit $3.53 $4.52 $5.49 65
Earnings-Based
Graham-Dodd $1.82 $2.58 $3.02 67
EPV $2.35 $2.66 $2.93 74
Multiples
P/E Multiple $3.41 $4.54 $5.68 63
P/S Multiple $3.41 $4.54 $5.68 58
P/B Multiple $3.41 $4.54 $5.68 55
EV/EBIT $4.56 $5.95 $7.34 66
EV/EBITDA $6.14 $8.06 $9.98 67
EV/Revenue $4.00 $5.55 $7.10 54
Asset-Based
NCAV (Graham) $3.29 $4.40 $6.57 54
Growth DCF
Growth DCF $3.83 $4.93 $6.83 79
Rev-Margin DCF $3.71 $5.30 $7.29 73
Economic Profit
Residual Income $4.90 $4.91 $5.08 76
ROIC Compounder $2.35 $2.66 $2.93 72
Growth Earnings
Growth-Adj P/E $2.43 $3.47 $4.51 67

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Quality Score breakdown

Overall quality 58/100

Of which business quality 59 · Market factors (momentum, volatility) 82

Profitability 34
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 93
Price trend over the last 3–12 months (market factor)
52W Momentum 97
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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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. 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.4%
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.
+0.4%
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.
+6.0%
Start year 2020 (pandemic)
Revenue growth 6 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.
+2.9%
What shareholders gained per year (last 5 years) ⓘ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.
+0.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.3%
Dividend (yield on the price)0.0%
Profit margin 2020 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.4% → 5%

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+19.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in SEK, Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +17.6% a year for the price and +0.9% for the forecasts.
Forecast 2026 (sales)−2.5%
Forecast 2027 (sales)+4.9%
Projected 2028 (sales)+4.5%
Projected 2029 (sales)+4.2%
Projected 2030 (sales)+3.8%

SAMHF screens overvalued: fair value 60% below the price. Compare with Nucor Corporation →

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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.Steel · 407 stocks

Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 58 · Top 25%
Fair Value upside −48.4% · Bottom 25%
Profitability
Return on equity (TTM) 3.4% · Below median
Return on assets 2.4% · Above median
Net margin (TTM) 3.1% · Above median
Operating margin (TTM) 0.0% · Bottom 25%
Growth and dividend
Revenue growth −11.1% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.06× · Below median

Valuation Multiplesvs Steel median · lower = cheaper

P/E (TTM) 39.5× · Priciest 25%
P/FCF 2.8× · Cheapest 25%

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 Steel stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Nucor Corporation NUE $236.24 $116.49 −51%
ArcelorMittal S.A MT €59.82 €35.15 −41%
Steel Dynamics, Inc STLD $230.39 $127.93 −44%
JSW Steel Limited JSWSTEEL ₹1,233 ₹1,095 −11%
Tata Steel Limited TATASTEEL ₹178.00 ₹147.10 −17%
Reliance, Inc RS $393.04 $211.55 −46%
Baoshan Iron & Steel Co 600019 ¥5.84 ¥8.07 +38%
POSCO Holdings 005490 311,000 KRW 155,270 KRW −50%
Inner Mongolia Baotou Steel Union Co 600010 ¥2.09 ¥0.5300 −75%
Jindal Steel Limited JINDALSTEL ₹1,165 ₹516.27 −56%

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Cite: Fair Value Calculator (2026). "Alleima AB Fair Value". https://www.fairvalue-calculator.com/stock/SAMHF

Frequently asked questions

Is Alleima AB (SAMHF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $4.74 versus the last price from Sep 25, 2026 of $11.82, about −60% upside (overvalued).
What is the fair value of SAMHF?
Our model-based fair value for Alleima AB is $4.74 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $11.82.
What is the quality score of SAMHF?
Alleima AB has a Quality Score of 58/100. 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 Alleima AB (SAMHF)?
Our model-based price target is the fair value of $4.74 (as of Sep 24, 2026) from 22 valuation models. Cautious scenario $3.62, optimistic scenario $5.76. It is a calculation from audited fundamentals, not an analyst target.
What is the Alleima AB stock forecast for 2026?
Our models put fair value at $4.74, about −60% upside versus the last price from Sep 25, 2026 of $11.82 (overvalued). Cautious scenario $3.62, optimistic scenario $5.76. The calculation is refreshed regularly with new filings.
What is the revenue of Alleima AB (SAMHF)?
Alleima AB reported trailing-twelve-month revenue of about 19.2B SEK (latest available figure, as of Sep 24, 2026).
What growth is priced into Alleima AB (SAMHF)?
For today's price to be fair in a discounted-cash-flow model, Alleima AB would have to grow free cash flow by +19.9 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SAMHF use?
Our models discount Alleima AB at 9.9 %: a base by market capitalisation (mid), damped by beta 1.09, country premium for USA. 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 Alleima AB that is +19.9 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has Alleima AB (SAMHF) delivered so far?
Over the past 5 years revenue at Alleima AB grew +6.0 % a year. The price currently implies +19.9 % per year free-cash-flow growth a 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 Alleima AB (SAMHF) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Alleima AB (+19.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Alleima AB (SAMHF)?
The free-cash-flow yield on the price is 2.89 %: that much free cash flow Alleima AB produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Alleima AB (SAMHF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Alleima AB it is $4.74 per share (as of Sep 24, 2026), against a price of $11.82. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Alleima AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SAMHF trades above its calculated fair value: price $11.82, fair value $4.74, a gap of about −60% (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 SAMHF?
No. The price is what the market pays today ($11.82); the fair value is what the company's own numbers justify ($4.74). For Alleima AB the two are $7.08 per share apart. That gap is exactly why we show both numbers side by side.
How much is Alleima AB worth?
The market values Alleima AB at about $3.0B (market capitalisation, as of Sep 24, 2026). Per share that is $11.82; our models calculate a fair value of $4.74 per share.
What do the bullish and bearish scenarios say about SAMHF?
Our models span a range for Alleima AB: cautious scenario $3.62, base $4.74, optimistic $5.76 per share (as of Sep 24, 2026, price $11.82). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SAMHF?
Alleima AB trades at a price-to-earnings ratio of 39.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $4.74 is built from several models across several years.
How solid is the balance sheet of Alleima AB (SAMHF)?
Balance-sheet figures for Alleima AB (as of Sep 24, 2026): return on equity 3.4%, debt of 0.06 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is SAMHF from its 52-week high?
Alleima AB trades at $11.82, about 2% below its 52-week high of $12.11 and 73% above the low of $6.82 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $4.74 is for.
Which stocks are comparable to Alleima AB?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, 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 Alleima AB stock attractive at the current price?
The data as of Sep 24, 2026: price $11.82, calculated fair value $4.74 (−60%), Quality Score 58/100, from 22 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 SAMHF calculated?
We run Alleima AB through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $4.74, 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 14.5 % above its aggregate fair value. Alleima AB 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 Alleima AB (SAMHF)?
The latest price we hold is from Sep 25, 2026 and stands at $11.82. Our model-based fair value is $4.74, about −60% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Alleima AB right now?
The price sits above even our optimistic bull case ($5.76). The favourable scenario is already priced in. Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Alleima AB

How large is the market capitalisation of Alleima AB (SAMHF)?
The market capitalisation of Alleima AB is $3.0B. 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 Alleima AB (SAMHF)?
The price-to-sales ratio of Alleima AB is 1.42 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Alleima AB (SAMHF)?
Earnings per share at Alleima AB are $0.2400 (price ÷ EPS = P/E 39.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Alleima AB (SAMHF)?
The net margin of Alleima AB is 3.6% (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 Alleima AB (SAMHF)?
The return on equity (ROE) of Alleima AB is 3.4% (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 Alleima AB (SAMHF)?
On an EBIT basis the return on assets of Alleima AB is 7.1% (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.
How fast is revenue growing at Alleima AB (SAMHF)?
Revenue at Alleima AB is growing −11.1% versus a year earlier (3y avg +0.4%). 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 Alleima AB (SAMHF)?
Earnings per share at Alleima AB are growing −26.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Alleima AB (SAMHF) carry?
The net debt of Alleima AB is 69.0M SEK (fiscal year 2020, ≈ 0.1 yrs of FCF). 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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