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ScandBook Holding (SBOK) Fair Value & Analysis

Industrials · SE · Market cap 351M SEK

SH ScandBook Holding SBOK · ST
Pricekr 49.00
Fair Valuekr 75.02
Upside+53.1%
Quality56/100
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Healthy Growth
Thin margins · 7.6% net margin
Low debt · generates free cash flow
5.29% dividend yield
Ranks above peers (12/14)
Moderate moat 46/100
Evidence: High Range kr 44.27 – kr 116.76 Share as image

Fair value as of: Jul 20, 2026

From 24 valuation models · updated 21 days ago

Fair value updated Jul 20, 2026, revised from kr 73.18 to kr 75.02 (+2.5%) since Jul 5, 2026. Share price −5.8% over the past month.

A solid business, screening 53% undervalued on our models.

What matters now

  • The model range is unusually wide (kr 44.27 to kr 116.76). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

kr 61.16 kr 19.88 Fair Value kr 75.02 Apr 2021 Jul 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 19.88 – kr 61.16 · fair‑value band kr 44.27 – kr 116.76 · the kr 49.00 price screens below the kr 75.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

ScandBook Holding (SBOK) currently trades at kr 49.00, while our model-based Fair Value estimate is kr 75.02, implying the stock looks roughly 53.1% undervalued today. The Quality Score stands at 56/100 (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, ScandBook Holding generated revenue of 489M SEK at a net margin of 8.3%. Revenue grew 32.0% year over year. It earns a return on equity of 14.5%. Net debt stands at 77.9M SEK. Fundamentals as of Jul 20, 2026

Our scenario range runs from kr 44.27 (bear case) to kr 116.76 (bull case); at kr 49.00, 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 24% below its 52-week high and 32% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at 53%, SBOK 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
Growth DCF kr 30.66 kr 44.82 kr 62.68 80
Residual Income kr 39.06 kr 46.68 kr 91.30 76
Rev-Margin DCF kr 30.00 kr 50.27 kr 73.85 74
All 24 models by family
DCF Models
FCF DCF kr 30.50 kr 46.93 kr 69.09 38
Owner Earnings kr 53.72 kr 80.91 kr 117.58 31
5Y Revenue Exit kr 30.00 kr 50.18 kr 75.85 39
5Y EBITDA Exit kr 47.47 kr 83.08 kr 124.92 41
5Y P/E Exit kr 59.83 kr 106.38 kr 155.75 38
10Y Revenue Exit kr 28.84 kr 46.29 kr 69.63 36
10Y EBITDA Exit kr 39.99 kr 67.25 kr 104.07 37
10Y P/E Exit kr 47.22 kr 82.08 kr 125.71 35
Earnings-Based
Graham-Dodd kr 41.00 kr 132.89 kr 177.44 54
Lynch FV kr 29.63 kr 42.33 kr 55.03 50
PEG = 1.0 kr 29.63 kr 42.33 kr 55.03 46
EPV kr 23.50 kr 27.39 kr 30.62 59
Multiples
P/E Multiple kr 94.97 kr 126.62 kr 158.28 63
P/S Multiple kr 76.88 kr 102.50 kr 128.13 58
P/B Multiple kr 76.88 kr 102.50 kr 128.13 55
EV/EBIT kr 46.14 kr 63.18 kr 80.21 53
EV/EBITDA kr 66.83 kr 90.77 kr 114.70 54
EV/Revenue kr 31.51 kr 47.14 kr 62.77 43
Asset-Based
NCAV (Graham) kr 21.18 kr 28.39 kr 42.37 50
Growth DCF
Growth DCF kr 30.66 kr 44.82 kr 62.68 80
Rev-Margin DCF kr 30.00 kr 50.27 kr 73.85 74
Economic Profit
Residual Income kr 39.06 kr 46.68 kr 91.30 76
ROIC Compounder kr 23.50 kr 27.39 kr 30.62 72
Growth Earnings
Growth-Adj P/E kr 79.65 kr 113.78 kr 147.91 68

Widest divergence: Growth Earnings (kr 113.78) versus Economic Profit (kr 27.39). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 489M SEK
Revenue growth (YoY) +32.0%
Net margin 8.3%
Return on equity 14.5%
Free cash flow 25.2M SEK FY2025
P/E ratio 8.8
More key figures
Operating margin 11.6%
EPS (TTM) kr 6.03
EPS growth (YoY) +142%
Net debt 77.9M SEK FY2025

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

Quality Score breakdown

Overall quality 56/100

Of which business quality 57 · Market factors (momentum, volatility) 56

Profitability 49
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 82
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

ScandBook Holding AB (publ) manufactures and sells hard/soft cover books for book publishers in Sweden. It offers case-bound hardback books covered with colored or printed paper wrapped with a dust jacket; case-bound hardback books covered with printed paper glued to the cover board; and books with softcovers and paperbacks.

Full company description

ScandBook Holding AB (publ) manufactures and sells hard/soft cover books for book publishers in Sweden. It offers case-bound hardback books covered with colored or printed paper wrapped with a dust jacket; case-bound hardback books covered with printed paper glued to the cover board; and books with softcovers and paperbacks. The company also provides composition/positioning of inlay, design of the book cover, stocks of covers, interposer of folders, and wrapping services; prepress; and logistics services. The company was incorporated in 2006 and is based in Falun, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ScandBook Holding reported revenue of kr 489M in FY2025 versus kr 335M in FY2021, a compound +9.9%/yr. Reported net income was kr 40.7M in FY2025, compounding +11.5%/yr from FY2021.

Growth Quality 81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
489M SEK
Latest YoY
+17.4%
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.
+8.1%
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.
+10.1%
Avg. growth/yr (18Y) 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.
+4.5%
Revenue +9.9%/yr
FY21 kr 335M
FY22 kr 387M
FY23 kr 392M
FY24 kr 417M
FY25 kr 489M
Net income +11.5%/yr
FY21 kr 26.3M
FY22 kr 32.7M
FY23 kr 26.0M
FY24 kr 23.2M
FY25 kr 40.7M
Character of growth · EPS growth decomposed (2014-2025) +16.1 % p.a.
Revenue per share +1.4 pp

of which total revenue +7.5 pp · buybacks/dilution −6.1 pp

EBIT margin +11.1 pp
Tax rate −0.8 pp
Residual (interest, one-offs) +4.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "ScandBook Holding Fair Value". https://www.fairvalue-calculator.com/stock/SBOK

Peer Group

Specialty Business Services · 253 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 56 · Above median
Fair Value upside +53% · Top 25%
Return on equity (TTM) 14% · Above median
Return on assets 6% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth 31% · Top 25%
Dividend yield (TTM) 5.3% · Top 25%
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 8.6× · Cheaper than 75% of peers
P/B 1.23× · Cheaper than median
P/S (TTM) 0.67× · Cheaper than median
P/FCF 1.5× · Cheaper than median
EV/EBITDA 6.3× · Cheaper than median

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 100 · sector 25
FUTURE 100 · sector 27
PAST 56 · sector 33
HEALTH 88 · sector 92
DIVIDEND 100 · sector 54

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 Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $206.25 $95.30 -54%
RELX PLC RELX $33.70 $32.49 -4%
Thomson Reuters Corporation TRI C$133.87 C$70.40 -47%
Copart, Inc CPRT $27.61 $28.59 +4%
Global Payments Inc GPN $80.49 $69.67 -13%
RB Global, Inc RBA C$156.43 C$49.14 -69%
Brambles Limited BXB A$18.79 A$12.28 -35%
UL Solutions Inc ULS $87.76 $33.62 -62%
Wolters Kluwer N.V WKL €62.56 €103.99 +66%
Aramark ARMK $56.74 $13.73 -76%

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Frequently asked questions

Is ScandBook Holding (SBOK) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of kr 75.02 versus a price of kr 49.00, about +53% (undervalued).
What is the fair value of SBOK?
Our model-based fair value for ScandBook Holding is kr 75.02 (as of Jul 20, 2026), built from audited fundamentals. The current price is kr 49.00.
What is the quality score of SBOK?
ScandBook Holding has a Quality Score of 56/100. 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 ScandBook Holding (SBOK)?
ScandBook Holding reported trailing-twelve-month revenue of about 489M SEK (latest available figure, as of Jul 20, 2026).
What is the net profit margin of SBOK?
The net profit margin of ScandBook Holding is about 8.3%, meaning it keeps roughly 8.3% of revenue as net income. 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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