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Tellusgruppen AB (TELLUS) Fair Value & Analysis

Consumer Defensive · SE · Market cap 107M SEK

TA Tellusgruppen AB TELLUS · ST
Pricekr 6.20
Fair Valuekr 3.73
Upside-39.8%
Quality52/100
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Healthy Growth
Thin margins · 1.0% net margin
High debt · generates free cash flow
2.16% dividend yield
Trails peers (5/13)
Narrow moat 39/100
Evidence: High Range kr 2.80 – kr 4.67 Share as image

Fair value as of: Jul 12, 2026

From 23 valuation models · updated 29 days ago

Share price +3.3% over the past month.

A solid business, but screening 40% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 4.67). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 8.74 kr 3.56 Fair Value kr 3.73 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range kr 3.56 – kr 8.74 · fair‑value band kr 2.80 – kr 4.67 · the kr 6.20 price screens above the kr 3.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Tellusgruppen AB (TELLUS) currently trades at kr 6.20, while our model-based Fair Value estimate is kr 3.73, implying the stock looks roughly 39.8% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Consumer Defensive 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: high).

Over the trailing twelve months, Tellusgruppen AB generated revenue of 496M SEK at a net margin of 1.0%. Revenue grew 9.2% year over year. It earns a return on equity of 20.9%. Net debt stands at 21.8M SEK. Fundamentals as of Jul 12, 2026

Our scenario range runs from kr 2.80 (bear case) to kr 4.67 (bull case); at kr 6.20, the current price sits above 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 share trades about 17% below its 52-week high and 84% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 17% fair-value upside, at -40%, TELLUS 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 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
Growth DCF kr 18.77 kr 30.10 kr 49.39 80
Residual Income kr 0.2000 kr 0.3200 kr 4.67 76
Rev-Margin DCF kr 17.49 kr 33.46 kr 57.68 74
All 23 models by family
DCF Models
FCF DCF kr 19.90 kr 28.76 kr 52.71 38
Owner Earnings kr 16.94 kr 33.15 kr 61.45 31
5Y Revenue Exit kr 17.49 kr 30.54 kr 56.22 39
5Y EBITDA Exit kr 8.80 kr 12.09 kr 17.83 41
5Y P/E Exit kr 9.79 kr 15.67 kr 22.63 38
10Y Revenue Exit kr 17.55 kr 33.48 kr 49.12 36
10Y EBITDA Exit kr 12.74 kr 18.97 kr 28.34 37
10Y P/E Exit kr 13.34 kr 20.62 kr 31.69 35
Earnings-Based
Graham-Dodd kr 1.76 kr 12.25 kr 17.19 54
Lynch FV kr 3.87 kr 5.53 kr 7.19 50
PEG = 1.0 kr 3.87 kr 5.53 kr 7.19 46
Dividend Discount
Gordon GGM kr 0.7000 kr 1.17 kr 1.51 70
DDM Multi-Stage kr 0.7000 kr 1.11 kr 1.25 61
Multiples
P/E Multiple kr 4.26 kr 5.68 kr 7.10 63
P/S Multiple kr 3.29 kr 4.39 kr 5.49 58
P/B Multiple kr 0.1500 kr 0.2000 kr 0.2600 55
EV/EBITDA kr 2.78 kr 3.67 kr 4.55 54
EV/Revenue kr 15.81 kr 22.53 kr 29.25 43
Asset-Based
NCAV (Graham) kr 0.0300 kr 0.0300 kr 0.0500 50
Growth DCF
Growth DCF kr 18.77 kr 30.10 kr 49.39 80
Rev-Margin DCF kr 17.49 kr 33.46 kr 57.68 74
Economic Profit
Residual Income kr 0.2000 kr 0.3200 kr 4.67 76
Growth Earnings
Growth-Adj P/E kr 5.29 kr 7.56 kr 9.83 68

Widest divergence: Growth DCF (kr 30.10) versus Asset-Based (kr 0.0300). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 496M SEK
Revenue growth (YoY) +9.2%
Net margin 1.0%
Return on equity 20.9%
Free cash flow 30.6M SEK FY2025
P/E ratio 26.7
More key figures
Operating margin 1.6%
EPS (TTM) kr 0.2700
EPS growth (YoY) +136%
Net debt 21.8M SEK FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 51 · Market factors (momentum, volatility) 61

Profitability 52
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 78
Distance to the 52-week high (market factor)
Net Issuance 0
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

Tellusgruppen AB (publ), through its subsidiaries, operates in the education and childcare sectors in Sweden. The company operates preschools in Stockholm and Uppsala counties under the Tellusbarn, as well as primary schools under the Robinson and Thea names.

Full company description

Tellusgruppen AB (publ), through its subsidiaries, operates in the education and childcare sectors in Sweden. The company operates preschools in Stockholm and Uppsala counties under the Tellusbarn, as well as primary schools under the Robinson and Thea names. It also provides childcare and educational services; mother tongue teaching and study guidance to primary schools under the Omniglot name; and babysitting services under the Nanny by Tellus. The company was founded in 2007 and is based in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tellusgruppen AB reported revenue of kr 489M in FY2025 versus kr 245M in FY2021, a compound +18.9%/yr. Reported net income was kr 4.6M in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
489M SEK
Latest YoY
+8.4%
Avg. 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.
+14.8%
Avg. 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.
+21.2%
Avg. growth/yr (8Y) 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.
+22.6%
Revenue +18.9%/yr
FY21 kr 245M
FY22 kr 323M
FY23 kr 399M
FY24 kr 451M
FY25 kr 489M
Net income
FY21 −kr 6.8M
FY22 −kr 6.4M
FY23 −kr 16.9M
FY24 −kr 19.8M
FY25 kr 4.6M

TELLUS screens 40% overvalued. Compare with New Oriental Education & Technology Group →

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Cite: Fair Value Calculator (2026). "Tellusgruppen AB Fair Value". https://www.fairvalue-calculator.com/stock/TELLUS

Peer Group

Education & Training Services · 148 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 52 · Below median
Fair Value upside −40% · Bottom 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 3% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth 6% · Above median
Dividend yield (TTM) 2.2% · Below median
Debt / equity 6.34× · Higher than 75% of peers

Valuation Multiples vs Education & Training Services median · lower = cheaper

P/E (TTM) 22.2× · Pricier than 75% of peers
P/S (TTM) 0.22× · Cheaper than 75% of peers
P/FCF 0.4× · Cheaper than median
EV/EBITDA 2.9× · 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.

VALUE 0 · sector 37
FUTURE 29 · sector 24
PAST 83 · sector 18
HEALTH 0 · sector 95
DIVIDEND 43 · sector 66

VALUE 0: the price sits above our fair-value range.

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 Education & Training Services stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
New Oriental Education & Technology Group EDUN 966.48 MXN 897.37 MXN -7%
TAL Education Group TAL $10.24 $15.60 +52%
Laureate Education, Inc LAUR $36.45 $41.45 +14%
Physicswallah Limited PWL ₹131.59 ₹14.81 -89%
Grand Canyon Education, Inc LOPE $149.00 $152.01 +2%
Covista Inc CVSA $116.22 $135.45 +17%
Stride, Inc LRN $83.39 $139.45 +67%
Universal Technical Institute, Inc UTI $40.33 $21.35 -47%
Perdoceo Education Corporation PRDO $31.66 $41.45 +31%
Strategic Education, Inc STRA $84.18 $105.48 +25%

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Frequently asked questions

Is Tellusgruppen AB (TELLUS) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 3.73 versus a price of kr 6.20, about −40% (overvalued).
What is the fair value of TELLUS?
Our model-based fair value for Tellusgruppen AB is kr 3.73 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 6.20.
What is the quality score of TELLUS?
Tellusgruppen AB has a Quality Score of 52/100. 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 Tellusgruppen AB (TELLUS)?
Tellusgruppen AB reported trailing-twelve-month revenue of about 496M SEK (latest available figure, as of Jul 12, 2026).
What is the net profit margin of TELLUS?
The net profit margin of Tellusgruppen AB is about 1.0%, meaning it keeps roughly 1.0% 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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