SSAB AB (publ) (SSAB-A) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of SSAB AB (publ) SEK 72.43, price SEK 100, upside -27.9%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
60‑month range kr 28.77 – kr 108.80 · fair‑value band kr 54.91 – kr 94.15 · the kr 100.45 price screens above the kr 72.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 30, 2026.
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SSAB AB (publ) engages in the production and sale of steel products in Sweden, Finland, Germany, Poland, Denmark, Asia, the Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction.
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SSAB AB (publ) engages in the production and sale of steel products in Sweden, Finland, Germany, Poland, Denmark, Asia, the Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and advanced high-strength steel products. The SSAB Europe segment provides strip, heavy plate, and tubular products. The SSAB Americas segment is involved in the sale of heavy plates. The Tibnor segment distributes a range of steel and non-ferrous metals in the Nordics and Baltics. The Ruukki Construction segment produces and sells building solutions. It also offers fossil free steel products. The company markets its steel products under the Strenx, Hardox, Docol, GreenCoat, Toolox, Armox, Duroxite, Cor-Ten, SSAB AM, SSAB Boron, SSAB Domex, SSAB Form, SSAB Laser, SSAB Weathering, and SSAB Multisteel brands. It serves heavy transport, automotive, material handling, construction machinery, energy, construction, protection, and tooling customers through its sales channels, service centers, and distributors. SSAB AB (publ) was founded in 1878 and is headquartered in Stockholm, Sweden.
Stock analysis
SSAB AB (publ) (SSAB-A) currently trades at kr 100.45, while our model-based Fair Value estimate is kr 72.43, 27.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of kr 83.62 per share, and 1 of the 14 models we run sit above the kr 100.45 price.
Bear case: the Earnings-Based group reads lowest at kr 25.82, and 13 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: kr 54.91 (bear) to kr 94.15 (bull), the price of kr 100.45 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 54/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
SSAB AB (publ) reported revenue of 96.2B SEK in FY2025 versus 95.9B SEK in FY2021, a compound +0.1%/yr. Reported net income was 4.9B SEK in FY2025, compounding −24.0%/yr from FY2021.
Key figures
Market cap 100B SEK (≈ $10.0B) · P/E ratio 17.8 · P/S ratio 0.91 · EPS (TTM) kr 5.40 · Dividend yield 2.0% · Net margin 5.1% · Return on equity 8.1% · Return on assets (EBIT) 9.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 8% below its 52-week high and 76% 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 −28%, SSAB-A screens cheaper than that median.
Fair Value models
Bear kr 54.91Fair Value kr 72.43Bull kr 94.15
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 (kr 2.57 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.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.
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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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.
−6.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.4%
Dividend (yield on the price)2.0%
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.−8.4% vs 15.4%, slowing
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.−1% → 6%
News mood ⓘNews mood, the average tone of recent news (79 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.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
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.Steel · 402 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−27.9% · Below median
Profitability
Return on equity (TTM)8.1% · Above median
Return on assets4.3% · Above median
Net margin (TTM)5.7% · Above median
Operating margin (TTM)9.7% · Above median
Growth and dividend
Revenue growth7.2% · Above median
Dividend yield (TTM)2.0% · Below median
Balance sheet
Debt / equity0.11× · Above median
Valuation Multiplesvs Steel median · lower = cheaper
P/E (TTM)17.8× · Pricier than median
P/B1.48× · Pricier than median
P/S (TTM)1.02× · Pricier than median
EV/EBITDA8.0× · Pricier than median
PEG4.38× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 19
FUTURE (revenue growth)36· sector 33
PAST (return on equity)33· sector 18
HEALTH (low debt)95· sector 95
DIVIDEND (yield)40· sector 51
VALUE 0: the price sits above our fair-value range.
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). "SSAB AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/SSAB-A
Frequently asked questions
Is SSAB AB (publ) (SSAB-A) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of kr 72.43 versus a price of kr 100.45, about −28% upside (overvalued).
What is the fair value of SSAB-A?
Our model-based fair value for SSAB AB (publ) is kr 72.43 (as of Sep 30, 2026), built from audited fundamentals. The current price: kr 100.45.
What is the quality score of SSAB-A?
SSAB AB (publ) has a Quality Score of 54/100. 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 SSAB AB (publ) (SSAB-A)?
Our model-based price target is the fair value of kr 72.43 (as of Sep 30, 2026) from 14 valuation models. Cautious scenario kr 54.91, optimistic scenario kr 94.15. It is a calculation from audited fundamentals, not an analyst target.
What is the SSAB AB (publ) stock forecast for 2026?
Our models put fair value at kr 72.43, about −28% upside versus a price of kr 100.45 (overvalued). Cautious scenario kr 54.91, optimistic scenario kr 94.15. The calculation is refreshed regularly with new filings.
What is the revenue of SSAB AB (publ) (SSAB-A)?
SSAB AB (publ) reported trailing-twelve-month revenue of about 97.9B SEK (latest available figure, as of Sep 30, 2026).
Does SSAB AB (publ) pay a dividend?
SSAB AB (publ) currently shows a dividend yield of about 1.99% relative to its recent price (as of Sep 30, 2026).
What is the intrinsic value of SSAB AB (publ) (SSAB-A)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SSAB AB (publ) it is kr 72.43 per share (as of Sep 30, 2026), against a price of kr 100.45. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is SSAB AB (publ) stock overvalued or undervalued in 2026?
As of Sep 30, 2026, SSAB-A trades above its calculated fair value: price kr 100.45, fair value kr 72.43, a gap of about −28% (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 SSAB-A?
No. The price is what the market pays today (kr 100.45); the fair value is what the company's own numbers justify (kr 72.43). For SSAB AB (publ) the two are kr 28.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is SSAB AB (publ) worth?
The market values SSAB AB (publ) at about 100B SEK (market capitalisation, as of Sep 30, 2026). Per share that is kr 100.45; our models calculate a fair value of kr 72.43 per share.
What do the bullish and bearish scenarios say about SSAB-A?
Our models span a range for SSAB AB (publ): cautious scenario kr 54.91, base kr 72.43, optimistic kr 94.15 per share (as of Sep 30, 2026, price kr 100.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SSAB-A?
SSAB AB (publ) trades at a price-to-earnings ratio of 17.8 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 72.43 is built from several models across several years. Other multiples: PEG 4.4, P/B 1.5, P/S 1.0, EV/EBITDA 8.0.
What is the PEG ratio of SSAB-A?
The PEG ratio of SSAB AB (publ) is 4.38 (P/E divided by earnings growth, as of Sep 30, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of SSAB AB (publ) (SSAB-A)?
Balance-sheet figures for SSAB AB (publ) (as of Sep 30, 2026): return on equity 8.1%, debt of 0.11 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is SSAB-A from its 52-week high?
SSAB AB (publ) trades at kr 100.45, about 8% below its 52-week high of kr 108.80 and 76% above the low of kr 57.21 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 72.43 is for.
Which stocks are comparable to SSAB AB (publ)?
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 SSAB AB (publ) stock attractive at the current price?
The data as of Sep 30, 2026: price kr 100.45, calculated fair value kr 72.43 (−28%), Quality Score 54/100, from 14 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 SSAB-A calculated?
We run SSAB AB (publ) through 14 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 72.43, 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. SSAB 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 SSAB AB (publ) (SSAB-A)?
The closing price on Oct 2, 2026 was kr 100.45. Our model-based fair value is kr 72.43, about −28% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SSAB AB (publ) right now?
The price sits above even our optimistic bull case (kr 94.15). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of SSAB AB (publ)
How large is the market capitalisation of SSAB AB (publ) (SSAB-A)?
The market capitalisation of SSAB AB (publ) is 100B SEK (≈ $10.0B). 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 SSAB AB (publ) (SSAB-A)?
The price-to-sales ratio of SSAB AB (publ) is 0.91 (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 SSAB AB (publ) (SSAB-A)?
Earnings per share at SSAB AB (publ) are kr 5.40 (price ÷ EPS = P/E 17.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SSAB AB (publ) (SSAB-A)?
The dividend yield of SSAB AB (publ) is 2.0% (payout 37.0%). 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 SSAB AB (publ) (SSAB-A)?
The net margin of SSAB AB (publ) is 5.1% (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 SSAB AB (publ) (SSAB-A)?
The return on equity (ROE) of SSAB AB (publ) is 8.1% (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 SSAB AB (publ) (SSAB-A)?
On an EBIT basis the return on assets of SSAB AB (publ) is 9.7% (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 SSAB AB (publ) (SSAB-A)?
The operating margin of SSAB AB (publ) is 9.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SSAB AB (publ) (SSAB-A)?
Revenue at SSAB AB (publ) is growing +7.2% versus a year earlier (3y avg −8.3%). 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 SSAB AB (publ) (SSAB-A)?
Earnings per share at SSAB AB (publ) are growing +12.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does SSAB AB (publ) (SSAB-A) generate?
The free cash flow of SSAB AB (publ) is −3.5B 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 cash does SSAB AB (publ) (SSAB-A) hold?
SSAB AB (publ) holds more cash than debt, 11.4B SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Sep 30, 2026