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AB SKF (publ) (SKF-B) Fair Value & Analysis

Industrials · SE · Market cap 119B SEK (≈ $12.4B) · ISIN SE0000108227

AS AB SKF (publ) SKF-B · ST
Pricekr 277.80
Fair Valuekr 232.86
Upside-16.2%
Quality62/100
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Strengths

Low debt · generates free cash flow

Risks

!Trades 19% ABOVE our fair value of kr 232.86
!Mixed Growth (revenue 5y +4.1 %/yr)
!Thin margins · 4.2% net margin
!Mixed vs. peers (8/15)
Mixed Growth (revenue 5y +4.1 %/yr)
Thin margins · 4.2% net margin
Low debt · generates free cash flow
2.79% dividend yield
Mixed vs. peers (8/15)
Moderate moat 49/100
Evidence: Medium Range kr 144.86 – kr 292.31 Share as image

Fair value as of: Aug 27, 2026

From 23 valuation models · updated 3 days ago

Fair value updated Aug 27, 2026, revised from kr 180.34 to kr 232.86 (+29.1%) since Aug 21, 2026. Share price +8.5% over the past month.

A solid business, but trading 19% above our fair value.

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

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What matters now

  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 144.86 to kr 292.31) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 277.80 kr 128.09 Fair Value kr 232.86 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range kr 128.09 – kr 277.80 · fair‑value band kr 144.86 – kr 292.31 · the kr 277.80 price screens above the kr 232.86 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

AB SKF (publ) (SKF-B) currently trades at kr 277.80, while our model-based Fair Value estimate is kr 232.86, implying the stock looks roughly 16.2% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, AB SKF (publ) generated revenue of 89.5B SEK at a net margin of 4.2%. Revenue declined 8.7% year over year. It earns a return on equity of 6.8%. Net debt stands at 6.2B SEK. Fundamentals as of Aug 27, 2026

Our scenario range runs from kr 144.86 (bear case) to kr 292.31 (bull case); at kr 277.80, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 38% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -43% fair-value upside, at -16%, SKF-B screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.33 SEK per share, which is 0.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

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
FCF DCF best evidence kr 101.73 kr 151.94 kr 224.49 79
Growth DCF kr 104.64 kr 150.86 kr 214.55 77
Owner Earnings kr 105.49 kr 157.46 kr 232.54 75
All 23 models by family
DCF Models
FCF DCF best evidence kr 101.73 kr 151.94 kr 224.49 79
Owner Earnings kr 105.49 kr 157.46 kr 232.54 75
5Y Revenue Exit kr 122.84 kr 198.25 kr 292.24 71
5Y EBITDA Exit kr 178.47 kr 298.17 kr 433.77 73
5Y P/E Exit kr 108.95 kr 173.31 kr 237.96 70
10Y Revenue Exit kr 109.62 kr 175.73 kr 259.62 65
10Y EBITDA Exit kr 148.87 kr 243.62 kr 363.69 67
10Y P/E Exit kr 105.26 kr 158.78 kr 219.71 63
Earnings-Based
Graham-Dodd kr 58.64 kr 146.22 kr 189.65 62
PEG = 1.0 kr 26.68 kr 38.12 kr 49.55 55
EPV kr 105.06 kr 123.61 kr 139.85 72
Multiples
P/E Multiple kr 135.83 kr 181.11 kr 226.38 61
P/S Multiple kr 109.96 kr 146.61 kr 183.26 56
P/B Multiple kr 109.96 kr 146.61 kr 183.26 53
EV/EBIT kr 203.70 kr 273.68 kr 343.66 65
EV/EBITDA kr 253.31 kr 339.83 kr 426.34 66
EV/Revenue kr 143.59 kr 207.81 kr 272.03 52
Asset-Based
NCAV (Graham) kr 58.81 kr 78.80 kr 117.62 52
Growth DCF
Growth DCF kr 104.64 kr 150.86 kr 214.55 77
Rev-Margin DCF kr 122.84 kr 198.70 kr 280.79 71
Economic Profit
Residual Income kr 96.21 kr 101.86 kr 111.04 75
ROIC Compounder kr 105.06 kr 126.14 kr 154.99 71
Growth Earnings
Growth-Adj P/E kr 104.59 kr 149.42 kr 194.24 66

Widest divergence: Multiples (kr 181.11) versus Asset-Based (kr 78.80). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 31.8 as of Jul 16, 2026
P/S ratio 1.36 P/E × margin
EPS (TTM) kr 8.24 price ÷ EPS = P/E 31.8
Dividend yield 2.8% payout 94.1%
Net margin 4.3% FY2025
Return on equity 6.8% TTM
More key figures
Profitability
Return on assets (EBIT) 8.8% avg 5y
Operating margin 12.1% TTM
Growth
Revenue (TTM) 89.5B SEK TTM
Revenue growth (YoY) -8.7% 3y avg -1.9%
EPS growth (YoY) -9.5%
Balance sheet & cash flow
Free cash flow 4.6B SEK FY2025
Net debt 6.2B SEK FY2025 · ≈ 1.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 59 · Market factors (momentum, volatility) 64

Profitability 41
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 75
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

AB SKF (publ) designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide. It operates in two segments, Industrial and Automotive.

Full company description

AB SKF (publ) designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide. It operates in two segments, Industrial and Automotive. The company offers rolling, mounted and housings, super-precision, slewing, plain, magnetic, and thin section bearings; industrial and automotive seals; lubricants, manual lubrication tools, lubricators, automatic lubrication systems, and lubrication system components; maintenance products, such as hydraulic, mechanical, and alignment tools, as well as heaters; belts, pulleys, chains, sprockets, bushings and hubs, couplings, and bolts and tightening systems; condition monitoring systems; test and measuring equipment, such as waviness and roundness analyzers, noise and vibration testers, and grease test rigs, as well as calibration with traceability, machine training and support, and upgrades and refurbishment services; and vehicle aftermarket products. It provides application engineering services consisting of technical consultancy, numerical simulation and design, and root cause analysis; asset management services, such as assessment and benchmarking, maintenance strategy review, spare parts and inventory management, and lubrication management; condition-based maintenance, including vibration analysis and diagnostics, thermography, lubrication analysis, and condition monitoring system installation; mechanical maintenance comprising mounting and dismounting, precision alignment, and balancing; remanufacturing and customization; and training solutions, which include instructor-led training, e-learning courses, and webinar recordings. It serves the aerospace, agriculture, automotive, construction, food and beverage, general machinery, machine tools, marine, material handling, metals, mining, mineral processing, ocean energy, pulp and paper, railways, and wind industries. The company was incorporated in 1907 and is headquartered in Gothenburg, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AB SKF (publ) reported revenue of kr 91.6B in FY2025 versus kr 81.7B in FY2021, a compound +2.9%/yr. Reported net income was kr 3.9B in FY2025, compounding −14.4%/yr from FY2021.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
91.6B SEK
Latest YoY
−7.2%
Avg. revenue 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.
−1.9%
Avg. revenue 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.
+4.1%
Avg. revenue growth/yr (29Y) 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.
+3.5%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
−1.6% (-4.4 + 2.8)
Revenue +2.9%/yr
FY21 kr 81.7B
FY22 kr 96.9B
FY23 kr 104B
FY24 kr 98.7B
FY25 kr 91.6B
Net income −14.4%/yr
FY21 kr 7.3B
FY22 kr 4.5B
FY23 kr 6.4B
FY24 kr 6.5B
FY25 kr 3.9B
Character of growth · EPS growth decomposed (2014-2025) +3.4 % p.a.
Revenue per share +3.3 %

of which total revenue +3.3 % · buybacks/dilution +0.0 %

EBIT margin −0.3 %
Tax rate +0.7 %
Residual (interest, one-offs) −0.3 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

SKF-B screens 19% overvalued. Compare with Techtronic Industries Company →

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

Peer Group

Tools & Accessories · 123 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 62 · Above median
Fair Value upside −16% · Above median
Return on equity (TTM) 7% · Below median
Return on assets 4% · Above median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 12% · Above median
Revenue growth -9% · Bottom 25%
Dividend yield (TTM) 2.8% · Above median
Debt / equity 0.22× · Higher than median

Valuation Multiples vs Tools & Accessories median · lower = cheaper

P/E (TTM) 31.8× · Pricier than median
P/B 2.23× · Pricier than median
P/S (TTM) 1.33× · Cheaper than median
P/FCF 2.7× · Pricier than median
EV/EBITDA 12.6× · Cheaper than median
PEG 0.66× · Cheaper than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE12 · sector 7
FUTURE0 · sector 16
PAST27 · sector 30
HEALTH89 · sector 97
DIVIDEND56 · sector 40

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 Tools & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Techtronic Industries Company 0669 HK$138.50 HK$78.56 -43%
Snap-on Incorporated SNA $391.86 $344.67 -12%
RBC Bearings Incorporated RBC $513.95 $179.94 -65%
Lincoln Electric Holdings LECO $284.90 $151.86 -47%
Stanley Black & Decker, Inc SWK $99.24 $52.80 -47%
The Timken Company TKR $130.25 $64.85 -50%
The Toro Company TTC $100.35 $69.71 -31%
SFS Group SFSN CHF 131.40 CHF 118.30 -10%
Hangzhou Greatstar Industrial Co 002444 ¥30.51 ¥30.38 -0%
Hiwin Technologies Corporation 2049 381.00 TWD 73.32 TWD -81%

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Frequently asked questions

Is AB SKF (publ) (SKF-B) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of kr 232.86 versus a price of kr 277.80, about −16% (overvalued).
What is the fair value of SKF-B?
Our model-based fair value for AB SKF (publ) is kr 232.86 (as of Aug 27, 2026), built from audited fundamentals. The current price: kr 277.80.
What is the quality score of SKF-B?
AB SKF (publ) has a Quality Score of 62/100. 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 AB SKF (publ) (SKF-B)?
AB SKF (publ) reported trailing-twelve-month revenue of about 89.5B SEK (latest available figure, as of Aug 27, 2026).
What is the net profit margin of SKF-B?
The net profit margin of AB SKF (publ) is about 4.2%, meaning it keeps roughly 4.2% of revenue as net income. Based on the latest reported figures.
Does AB SKF (publ) pay a dividend?
AB SKF (publ) currently shows a dividend yield of about 2.79% relative to its recent price (as of Aug 27, 2026).

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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