Securitas AB (SECU-B) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of Securitas AB stock SEK 197, price SEK 166, upside +18.6%, quality 64 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 13, 2026.
How to read this chart
60‑month range kr 63.13 – kr 169.90 · fair‑value band kr 123.50 – kr 269.34 · the kr 166.00 price screens below the kr 196.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 13, 2026.
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Securitas AB (publ) provides security services in North America, Europe, Latin America, Africa, the Middle East, Asia, and Australia. The company operates through three segments: Securitas North America, Securitas Europe, and Securitas Ibero-America.
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It provides intelligence services, such as risk intelligence; safety and security services, including aviation security, fire and safety services, mobile security services, and on-site guarding; operation management security services, such as remote video solutions, smart security, and track and trace services; advisory security services comprising corporate risk management; and technology security services, which include electronic security.
The company also operates operation centers. Securitas AB (publ) was founded in 1934 and is headquartered in Stockholm, Sweden.
Stock analysis
Securitas AB (SECU-B) currently trades at kr 166.00, while our model-based Fair Value estimate is kr 196.91, implying the stock looks roughly 15.7% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 213.36 per share, and 16 of the 22 models we run sit above the kr 166.00 price.
Bear case: the Earnings-Based group reads lowest at kr 49.32, and 6 of the 22 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 123.50 (bear) to kr 269.34 (bull), the price of kr 166.00 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 64/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Securitas AB reported revenue of 155B SEK in FY2025 versus 108B SEK in FY2021, a compound +9.5%/yr. Reported net income was 5.1B SEK in FY2025, compounding +13.0%/yr from FY2021.
Key figures
Market cap 95.1B SEK (≈ $9.6B) Mid · P/E ratio 15.4 · P/S ratio 0.63 · EPS (TTM) kr 9.75 · Dividend yield 3.2% · Net margin 3.7% · Return on equity 14.2% · Return on assets (EBIT) 6.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 3% fair-value upside, at 19%, SECU-B screens cheaper than that median.
Fair Value models
Bearkr 123.50Fair Value kr 196.91Bullkr 269.34
Price kr 166.00 · Upside +18.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 3.57 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.Coverage ⓘCoverage = 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.
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.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.2%
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.
+5.2%
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.
+7.5%
Start year 2020 (pandemic). Over 10 years: +6.7% a year
Revenue growth 24 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.
+4.0%
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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.
+7.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.6%
Dividend (yield on the price)3.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.4.6% vs 4.9%, steady
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% → 7%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what 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).
+4.5%
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.
+2.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +2.5% a year for the price and +0.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Solid cash generation supports acquisitions in higher-margin technology solutions, yet modest scale with low margins signals a weak durable advantage overall.
Main risk: Ongoing pressure from legacy contracts such as Pinkerton and weaker European aviation could prolong margin strain and slow the transition to higher-margin areas.
Securitas is pushing its technology and security solutions focus under the 2030 targets while traditional contracts such as Pinkerton and weaker European aviation create temporary pressure. Cash generation remains solid and should fund more acquisitions in higher-margin areas once those headwinds ease in 2027. Will the North American technology momentum outweigh the legacy business drags?
Price, fair value, quality and upside side by side.
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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.Security & Protection Services · 105 stocks
P/B2.44× · 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.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Securitas AB Fair Value". https://www.fairvalue-calculator.com/stock/SECU-B
Frequently asked questions
Is Securitas AB (SECU-B) overvalued or undervalued?
As of Oct 13, 2026, our model estimates a fair value of kr 196.91 versus a price of kr 166.00, about +19% upside (undervalued).
What is the fair value of SECU-B?
Our model-based fair value for Securitas AB is kr 196.91 (as of Oct 13, 2026), built from audited fundamentals. The current price: kr 166.00.
What is the quality score of SECU-B?
Securitas AB has a Quality Score of 64/100. 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 Securitas AB (SECU-B)?
Our model-based price target is the fair value of kr 196.91 (as of Oct 13, 2026) from 22 valuation models. Cautious scenario kr 123.50, optimistic scenario kr 269.34. It is a calculation from audited fundamentals, not an analyst target.
What is the Securitas AB stock forecast for 2026?
Our models put fair value at kr 196.91, about +19% upside versus a price of kr 166.00 (undervalued). Cautious scenario kr 123.50, optimistic scenario kr 269.34. The calculation is refreshed regularly with new filings.
What is the revenue of Securitas AB (SECU-B)?
Securitas AB reported trailing-twelve-month revenue of about 151B SEK (latest available figure, as of Oct 13, 2026).
Does Securitas AB pay a dividend?
Securitas AB currently shows a dividend yield of 3.19% relative to its recent price (as of Oct 13, 2026).
What growth is priced into Securitas AB (SECU-B)?
For today's price to be fair in a discounted-cash-flow model, Securitas AB would have to grow free cash flow by +4.5 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.5 % per year. As of Oct 13, 2026.
What discount rate (WACC) does the fair value of SECU-B use?
Our models discount Securitas AB at 8.9 %: a base by market capitalisation (mid), damped by beta 0.73, country premium for Sweden. 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 Securitas AB that is +4.5 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Securitas AB (SECU-B) delivered so far?
Over the past 5 years revenue at Securitas AB grew +7.5 % a year. The price currently implies +4.5 % 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 Securitas AB (SECU-B) growing?
The median revenue growth in the sector is +7.5 % a year. That is the yardstick for the growth priced into Securitas AB (+4.5 % 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 Securitas AB (SECU-B)?
The free-cash-flow yield on the price is 7.55 %: that much free cash flow Securitas AB produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Securitas AB (SECU-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Securitas AB it is kr 196.91 per share (as of Oct 13, 2026), against a price of kr 166.00. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Securitas AB stock overvalued or undervalued in 2026?
As of Oct 13, 2026, SECU-B trades below its calculated fair value: price kr 166.00, fair value kr 196.91, a gap of about +19% (undervalued). 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 SECU-B?
No. The price is what the market pays today (kr 166.00); the fair value is what the company's own numbers justify (kr 196.91). For Securitas AB the two are kr 30.91 per share apart. That gap is exactly why we show both numbers side by side.
How much is Securitas AB worth?
The market values Securitas AB at about 95.1B SEK (market capitalisation, as of Oct 13, 2026). Per share that is kr 166.00; our models calculate a fair value of kr 196.91 per share.
What do the bullish and bearish scenarios say about SECU-B?
Our models span a range for Securitas AB: cautious scenario kr 123.50, base kr 196.91, optimistic kr 269.34 per share (as of Oct 13, 2026, price kr 166.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SECU-B?
Securitas AB trades at a price-to-earnings ratio of 15.4 (as of Oct 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 196.91 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 14.4 (reported for FY2025: 18.6). Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 17.4. Other multiples: PEG 1.3, P/B 2.4, P/S 0.6, EV/EBITDA 9.4.
What is the PEG ratio of SECU-B?
The PEG ratio of Securitas AB is 1.33 (P/E divided by earnings growth, as of Oct 13, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Securitas AB (SECU-B)?
Balance-sheet figures for Securitas AB (as of Oct 13, 2026): return on equity 14.2%, debt of 0.86 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is SECU-B from its 52-week high?
Securitas AB trades at kr 166.00, about 2% below its 52-week high of kr 169.90 and 25% above the low of kr 132.60 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of kr 196.91 is for.
Which stocks are comparable to Securitas AB?
From the same area (Industrials) we also value Allegion plc, Zhejiang Dahua Technology Co, MSA Safety Incorporated, ADT 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 Securitas AB stock attractive at the current price?
The data as of Oct 13, 2026: price kr 166.00, calculated fair value kr 196.91 (+19%), Quality Score 64/100, 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 SECU-B calculated?
We run Securitas 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 kr 196.91, 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 13.9 % above its aggregate fair value. Securitas AB currently trades 16 % below its own fair value, and the market average says nothing about that. 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 Securitas AB (SECU-B)?
The closing price on Oct 19, 2026 was kr 166.00. Our model-based fair value is kr 196.91, about +19% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Securitas AB right now?
A fairly wide model range (kr 123.50 to kr 269.34) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Securitas AB (SECU-B) come from?
Earnings per share at Securitas AB grew +2.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.8 %, EBIT margin +1.4 %, tax rate −0.5 %, residual (interest, one-offs) −3.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Securitas AB
How large is the market capitalisation of Securitas AB (SECU-B)?
The market capitalisation of Securitas AB is 95.1B SEK (≈ $9.6B). 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 Securitas AB (SECU-B)?
The price-to-sales ratio of Securitas AB is 0.63 (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 Securitas AB (SECU-B)?
Earnings per share at Securitas AB are kr 9.75 (price ÷ EPS = P/E 15.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Securitas AB (SECU-B)?
The dividend yield of Securitas AB is 3.2% (payout 42.0%, on adjusted earnings, reported 54.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Securitas AB (SECU-B)?
The net margin of Securitas AB is 3.7% (last twelve months). 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 Securitas AB (SECU-B)?
The return on equity (ROE) of Securitas AB is 14.2% (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 Securitas AB (SECU-B)?
On an EBIT basis the return on assets of Securitas AB is 6.9% (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.
What is the operating margin of Securitas AB (SECU-B)?
The operating margin of Securitas AB is 7.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Securitas AB (SECU-B)?
Revenue at Securitas AB is growing −1.9% versus a year earlier (3y avg +5.2%). 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 Securitas AB (SECU-B)?
Earnings per share at Securitas AB are growing +12.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Securitas AB (SECU-B) carry?
The net debt of Securitas AB is 35.4B SEK (fiscal year 2025, ≈ 4.9 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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Broad data
Oct 13, 2026