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Sustainion Group (SUSG) Fair Value & Analysis

Industrials · SE · Market cap 415M SEK

SG Sustainion Group SUSG · ST
Pricekr 1.80
Fair Valuekr 1.81
Upside+0.6%
Quality50/100
Healthy Growth
Thin margins · 4.7% net margin
Low debt · generates free cash flow
Ranks above peers (9/13)
Narrow moat 41/100
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Evidence: High Range kr 1.20 – kr 2.26 Share as image

Fair value as of: Aug 2, 2026

From 24 valuation models · updated today

Share price −4.5% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (kr 1.20 to kr 2.26) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 2.06 kr 0.4500 Fair Value kr 1.81 May 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range kr 0.4500 – kr 2.06 · fair‑value band kr 1.20 – kr 2.26 · the kr 1.80 price screens below the kr 1.81 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Sustainion Group (SUSG) currently trades at kr 1.80, while our model-based Fair Value estimate is kr 1.81, implying the stock looks roughly 0.6% fairly valued today. We read business quality at 50/100 (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, Sustainion Group generated revenue of 580M SEK at a net margin of 4.7%. Revenue grew 38.2% year over year. It earns a return on equity of 17.8%. Net debt stands at 30.0M SEK. Fundamentals as of Aug 2, 2026

Our scenario range runs from kr 1.20 (bear case) to kr 2.26 (bull case); at kr 1.80, the current price sits within that range. The share trades about 14% below its 52-week high and 125% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at 1%, SUSG screens richer 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 BearBaseBull Evidence
Highest evidence
Growth DCF kr 1.05 kr 1.82 kr 3.03 80
Rev-Margin DCF kr 1.56 kr 2.91 kr 5.72 74
ROIC Compounder kr 1.23 kr 1.73 kr 2.05 72
All 24 models by family
DCF Models
FCF DCF kr 1.12 kr 1.64 kr 3.19 38
Owner Earnings kr 1.75 kr 3.64 kr 7.14 31
5Y Revenue Exit kr 1.41 kr 2.55 kr 4.94 39
5Y EBITDA Exit kr 1.86 kr 3.46 kr 6.59 41
5Y P/E Exit kr 1.41 kr 3.18 kr 5.61 38
10Y Revenue Exit kr 1.27 kr 2.97 kr 4.12 36
10Y EBITDA Exit kr 1.62 kr 3.86 kr 7.84 37
10Y P/E Exit kr 1.32 kr 2.97 kr 5.68 35
Earnings-Based
Graham-Dodd kr 0.6900 kr 4.81 kr 6.74 54
Lynch FV kr 2.48 kr 3.55 kr 4.61 50
PEG = 1.0 kr 2.48 kr 3.55 kr 4.61 46
EPV kr 0.9800 kr 1.12 kr 1.23 59
Multiples
P/E Multiple kr 1.52 kr 2.03 kr 2.53 63
P/S Multiple kr 1.29 kr 1.72 kr 2.15 58
P/B Multiple kr 1.29 kr 1.72 kr 2.15 55
EV/EBIT kr 2.11 kr 2.81 kr 3.51 53
EV/EBITDA kr 2.17 kr 2.90 kr 3.62 54
EV/Revenue kr 1.42 kr 2.03 kr 2.64 43
Asset-Based
NCAV (Graham) kr 0.3400 kr 0.4600 kr 0.6800 50
Growth DCF
Growth DCF kr 1.05 kr 1.82 kr 3.03 80
Rev-Margin DCF kr 1.56 kr 2.91 kr 5.72 74
Economic Profit
Residual Income kr 0.6400 kr 0.7800 kr 1.71 61
ROIC Compounder kr 1.23 kr 1.73 kr 2.05 72
Growth Earnings
Growth-Adj P/E kr 3.20 kr 4.57 kr 5.94 68

Widest divergence: Growth Earnings (kr 4.57) versus Asset-Based (kr 0.4600). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 580M SEK
Revenue growth (YoY) +38.2%
Net margin 4.7%
Return on equity 17.8%
Free cash flow 19.1M SEK FY2025
P/E ratio 12.9
More key figures
Operating margin 4.5%
EPS (TTM) kr 0.1400
EPS growth (YoY) +221%
Net debt 30.0M SEK FY2025

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 44 · Market factors (momentum, volatility) 65

Profitability 56
Margins and returns on capital today
Quality Growth 73
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 35
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 89
Distance to the 52-week high (market factor)
Net Issuance 2
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

Sustainion Group AB, through its subsidiaries, operates as an industrial group in Sweden, Great Britain, Germany, rest of Europe, and internationally.

Full company description

Sustainion Group AB, through its subsidiaries, operates as an industrial group in Sweden, Great Britain, Germany, rest of Europe, and internationally. The company offers particle filters and exhaust filters for vehicles; gas and smoke analyzers and particle meters for the automotive industry; and custom-made sheet metal and pipe products with a degree of automation. It also provides customized control cabinets, and automation and electrical control solutions, as well as waste management, mobility, and lighting solutions for the environment. In addition, the company engages in the wholesale of electric car charging and energy systems. Further, it provides rental and ongoing maintenance services. The company was formerly known as Vindico Group AB (publ) and changed its name to Sustainion Group AB in March 2021. Sustainion Group AB was founded in 1990 and is based in Billdal, Sweden.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

Sustainion Group reported revenue of kr 538M in FY2025 versus kr 147M in FY2022, a compound +54.1%/yr. Reported net income was kr 23.4M in FY2025, compounding +147.2%/yr from FY2022.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
538M SEK
Latest YoY
+184.5%
Avg. growth/yr (3Y)
+54.1%
Revenue +54.1%/yr
FY22 kr 147M
FY23 kr 171M
FY24 kr 189M
FY25 kr 538M
Net income +147.2%/yr
FY22 kr 1.5M
FY23 kr 1.4M
FY24 kr 3.6M
FY25 kr 23.4M

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Cite: Fair Value Calculator (2026). "Sustainion Group Fair Value". https://www.fairvalue-calculator.com/stock/SUSG

Peer Group

Security & Protection Services · 115 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 50 · Below median
Fair Value upside +1% · Above median
Return on equity (TTM) 18% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 5% · Below median
Revenue growth 38% · Top 25%
Debt / equity 0.17× · Higher than median

Valuation Multiples vs Security & Protection Services median · lower = cheaper

P/E (TTM) 12.9× · Cheaper than 75% of peers
P/B 2.63× · Pricier than 75% of peers
P/S (TTM) 0.72× · Cheaper than median
P/FCF 2.3× · Cheaper than median
EV/EBITDA 7.7× · 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 34 / 12
FUTURE 100 / 38
PAST 71 / 20
HEALTH 92 / 99
DIVIDEND 0 / 50

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 Security & Protection Services stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

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Allegion plc ALLE $137.24 $127.80 -7%
Securitas AB SECUB kr 162.10 kr 186.34 +15%
Zhejiang Dahua Technology Co 002236 ¥16.57 ¥23.58 +42%
MSA Safety Incorporated MSA $169.00 $118.51 -30%
ADT Inc ADT $7.06 $17.10 +142%
The Brink's Company BCO $104.24 $101.84 -2%
Brady Corporation BRC $90.16 $73.43 -19%
The GEO Group GEO $29.46 $32.36 +10%

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Frequently asked questions

Is Sustainion Group (SUSG) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of kr 1.81 versus a price of kr 1.80, about +1% (fairly valued).
What is the fair value of SUSG?
Our model-based fair value for Sustainion Group is kr 1.81 (as of Aug 2, 2026), built from audited fundamentals. The current price is kr 1.80.
What is the quality score of SUSG?
Sustainion Group has a Quality Score of 50/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Sustainion Group (SUSG)?
Sustainion Group reported trailing-twelve-month revenue of about 580M SEK (latest available figure, as of Aug 2, 2026).
What is the net profit margin of SUSG?
The net profit margin of Sustainion Group is about 4.7%, meaning it keeps roughly 4.7% 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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