Terranor Group (TERNOR) Fair Value & Analysis
Industrials · SE · Market cap 724M SEK
Fair value as of: Aug 2, 2026
From 14 valuation models · updated today
Share price +2.0% over the past month.
A solid business, but the price sits 83% above our fair value.
What matters now
- The price sits above even our optimistic bull case (kr 7.64). 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.
Price vs Fair Value (13 months)
White line = price, green steps = our fair value per fiscal year. As of Aug 2, 2026.
How to read this chart
13‑month range kr 17.75 – kr 37.00 · fair‑value band kr 5.87 – kr 7.64 · the kr 36.20 price screens above the kr 6.26 fair value. As of Aug 2, 2026.
Analysis
Terranor Group (TERNOR) currently trades at kr 36.20, while our model-based Fair Value estimate is kr 6.26, implying the stock looks roughly 82.7% overvalued today. We read business quality at 54/100 (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, Terranor Group generated revenue of 3.8B SEK at a net margin of -0.4%. Revenue grew 22.9% year over year. It earns a return on equity of -7.8%. Net debt stands at 37.2M SEK. Fundamentals as of Aug 2, 2026
Our scenario range runs from kr 5.87 (bear case) to kr 7.64 (bull case); at kr 36.20, the current price sits above that range. The share trades about 3% below its 52-week high and 104% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -83%, TERNOR 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.
All 14 models by family
Widest divergence: DCF Models (kr 132.85) versus Earnings-Based (kr 6.26). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 78
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
Terranor Group AB (publ) operates as infrastructure and road maintenance company in Sweden, Denmark, and Finland. The company involved in the operation and maintenance of roads together with light road works; construction and maintenance of green areas; and standalone temporary road safety services.
Full company description
Terranor Group AB (publ) operates as infrastructure and road maintenance company in Sweden, Denmark, and Finland. The company involved in the operation and maintenance of roads together with light road works; construction and maintenance of green areas; and standalone temporary road safety services. It serves government authorities, municipalities, and private operators. Terranor Group AB (publ) was founded in 2018 and is headquartered in Solna, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2025 · reported fiscal years
Terranor Group reported revenue of kr 3.6B in FY2025 versus kr 2.2B in FY2022, a compound +18.7%/yr. Reported net income was −kr 23.1M in FY2025.
TERNOR sits 83% above fair value. Compare with Larsen & Toubro Limited →
Peer Group
Engineering & Construction · 854 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.
Valuation Multiples vs Engineering & Construction median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Larsen & Toubro Limited LT | ₹3,815 | ₹1,994 | -48% |
| Samsung C&T Corporation 028260 | 346,000 KRW | 268,779 KRW | -22% |
| Hyundai Engineering & Construction Co 000720 | 99,000 KRW | 63,993 KRW | -35% |
| United Integrated Services Co 2404 | 1,250 TWD | 925.62 TWD | -26% |
| Samsung E&A Co 028050 | 42,550 KRW | 44,840 KRW | +5% |
| Rail Vikas Nigam Limited RVNL | ₹232.67 | ₹61.46 | -74% |
| Daewoo Engineering & Construction Co 047040 | 16,240 KRW | 6,507 KRW | -60% |
| NBCC (India) Limited NBCC | ₹102.36 | ₹48.22 | -53% |
| Cemindia Projects Limited CEMPRO | ₹1,431 | ₹730.69 | -49% |
| KEPCO Engineering & Construction Company 052690 | 92,700 KRW | 20,172 KRW | -78% |
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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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