SSAB AB (SSABAH) fair value: what the stock is really worth
We calculate from audited financials what SSAB AB is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 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 13, 2026.
How to read this chart
60‑month range €2.77 – €9.77 · fair‑value band €4.72 – €8.28 · the €9.20 price screens above the €6.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
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 (SSABAH) currently trades at €9.20, while our model-based Fair Value estimate is €6.37, implying the stock looks roughly 44.4% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of €57.88 per share, and 16 of the 16 models we run sit above the €9.20 price.
Bear case: the Earnings-Based group reads lowest at €25.18, and 0 of the 16 models stay below the price. Evidence for this calculation is medium.
Scenario range: €4.72 (bear) to €8.28 (bull), the price of €9.20 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 56/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
SSAB AB reported revenue of 93.8B SEK in FY2025 versus 95.9B SEK in FY2021, a compound −0.6%/yr. Reported net income was 4.9B SEK in FY2025, compounding −24.0%/yr from FY2021.
Key figures
Market cap €9.2B · P/E ratio 17.5 · P/S ratio 0.92 · EPS (TTM) €0.5000 · Net margin 5.2% · Return on equity 7.8% · Return on assets (EBIT) 8.2% · Revenue (TTM) €97.7B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades near its 52-week high and 96% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −24% fair-value upside, at −31%, SSABAH screens richer than that median.
Fair Value models
Bear €4.72Fair Value €6.37Bull €8.28
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 8 months old). Earnings retained since then (€0.3450 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.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.37/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−6.7%
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.
−9.1%
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%
Revenue growth 23 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.
+7.1%
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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.
−8.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.4%
Dividend (yield on the price)0.0%
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% vs 15%, 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 (63 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.Positive
Recent news coverage is more positive than average.
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 · 407 stocks
Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−32% · Below median
Profitability
Return on equity (TTM)8% · Above median
Return on assets4% · Above median
Net margin (TTM)6% · Above median
Operating margin (TTM)0% · Bottom 25%
Growth and dividend
Revenue growth−1% · Below median
Balance sheet
Debt / equity0.11× · Above median
Valuation Multiplesvs Steel median · lower = cheaper
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Cite: Fair Value Calculator (2026). "SSAB AB Fair Value". https://www.fairvalue-calculator.com/stock/SSABAH
Frequently asked questions
Is SSAB AB (SSABAH) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of €6.37 versus a price of €9.20, about −31% upside (overvalued).
What is the fair value of SSABAH?
Our model-based fair value for SSAB AB is €6.37 (as of Sep 13, 2026), built from audited fundamentals. The current price: €9.20.
What is the quality score of SSABAH?
SSAB AB 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 price target for SSAB AB (SSABAH)?
Our model-based price target is the fair value of €6.37 (as of Sep 13, 2026) from 16 valuation models. Cautious scenario €4.72, optimistic scenario €8.28. It is a calculation from audited fundamentals, not an analyst target.
What is the SSAB AB stock forecast for 2026?
Our models put fair value at €6.37, about −31% upside versus a price of €9.20 (overvalued). Cautious scenario €4.72, optimistic scenario €8.28. The calculation is refreshed regularly with new filings.
What is the revenue of SSAB AB (SSABAH)?
SSAB AB reported trailing-twelve-month revenue of about €97.7B (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of SSAB AB (SSABAH)?
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 it is €6.37 per share (as of Sep 13, 2026), against a price of €9.20. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is SSAB AB stock overvalued or undervalued in 2026?
As of Sep 13, 2026, SSABAH trades above its calculated fair value: price €9.20, fair value €6.37, a gap of about −31% (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 SSABAH?
No. The price is what the market pays today (€9.20); the fair value is what the company's own numbers justify (€6.37). For SSAB AB the two are €2.83 per share apart. That gap is exactly why we show both numbers side by side.
How much is SSAB AB worth?
The market values SSAB AB at about €9.2B (market capitalisation, as of Sep 13, 2026). Per share that is €9.20; our models calculate a fair value of €6.37 per share.
What do the bullish and bearish scenarios say about SSABAH?
Our models span a range for SSAB AB: cautious scenario €4.72, base €6.37, optimistic €8.28 per share (as of Sep 13, 2026, price €9.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SSABAH?
SSAB AB trades at a price-to-earnings ratio of 17.5 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €6.37 is built from several models across several years.
How solid is the balance sheet of SSAB AB (SSABAH)?
Balance-sheet figures for SSAB AB (as of Sep 13, 2026): return on equity 7.8%, debt of 0.11 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is SSABAH from its 52-week high?
SSAB AB trades at €9.20, about 3% below its 52-week high of €8.91 and 96% above the low of €4.69 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of €6.37 is for.
Which stocks are comparable to SSAB AB?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, JSW Steel Limited, Steel Dynamics, 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 SSAB AB stock attractive at the current price?
The data as of Sep 13, 2026: price €9.20, calculated fair value €6.37 (−31%), Quality Score 56/100, from 16 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 SSABAH calculated?
We run SSAB AB through 16 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 €6.37, 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 15.8 % above its aggregate fair value. SSAB 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 should I pay attention to with SSAB AB right now?
The price sits above even our optimistic bull case (€8.28). The favourable scenario is already priced in. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of SSAB AB
How large is the market capitalisation of SSAB AB (SSABAH)?
The market capitalisation of SSAB AB is €9.2B. 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 (SSABAH)?
The price-to-sales ratio of SSAB AB is 0.92 (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 (SSABAH)?
Earnings per share at SSAB AB are €0.5000 (price ÷ EPS = P/E 17.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of SSAB AB (SSABAH)?
The net margin of SSAB AB is 5.2% (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 (SSABAH)?
The return on equity (ROE) of SSAB AB is 7.8% (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 (SSABAH)?
On an EBIT basis the return on assets of SSAB AB is 8.2% (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 SSAB AB (SSABAH)?
Revenue at SSAB AB is growing −0.7% versus a year earlier (3y avg −9.1%). 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 (SSABAH)?
Earnings per share at SSAB AB are growing +42.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does SSAB AB (SSABAH) generate?
The free cash flow of SSAB AB is −€3.5B (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 (SSABAH) hold?
SSAB AB holds more cash than debt, €11.4B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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