Train Alliance AB (TRAIN-B) Fair Value & Analysis
Industrials · SE · Market cap 497M SEK (≈ $52.0M) · ISIN SE0012904779
What is Train Alliance AB really worth?
A solid business, trading 59% below our fair value of kr 14.74.
Strengths
Risks
Fair value as of: Aug 29, 2026
From 24 valuation models · updated 7 days ago
Share price −3.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case (kr 6.49). The market is more pessimistic than our downside scenario.
- The model range is unusually wide (kr 6.49 to kr 17.12). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range kr 5.98 – kr 32.99 · fair‑value band kr 6.49 – kr 17.12 · the kr 6.08 price screens below the kr 14.74 fair value. Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Train Alliance AB (TRAIN-B) currently trades at kr 6.08, while our model-based Fair Value estimate is kr 14.74, implying the stock looks roughly 58.8% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of kr 59.73 per share, and 17 of the 24 models we run sit above the kr 6.08 price. Bear case: the Economic Profit group reads lowest at kr 1.92, and 7 of the 24 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Train Alliance AB generated revenue of 295M SEK at a net margin of 33.2%. Revenue grew 11.2% year over year. It earns a return on equity of 7.2%. Net debt stands at 459M SEK. Fundamentals as of Aug 29, 2026
Our scenario range runs from kr 6.49 (bear case) to kr 17.12 (bull case); at kr 6.08, the current price sits below 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 72% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 142%, TRAIN-B screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Growth Earnings (kr 59.73) versus Economic Profit (kr 1.92). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 15
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Train Alliance AB (publ) provides railway facilities in Sweden. It acquires land and develops it to be railway-ready, as well as constructs railways and railway-related infrastructure. The company was formerly known as Train Alliance Sweden AB (publ) and changed its name to Train Alliance AB (publ) in July 2024.
Full company description
Train Alliance AB (publ) provides railway facilities in Sweden. It acquires land and develops it to be railway-ready, as well as constructs railways and railway-related infrastructure. The company was formerly known as Train Alliance Sweden AB (publ) and changed its name to Train Alliance AB (publ) in July 2024. The company was incorporated in 2009 and is headquartered in Hallsberg, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Train Alliance AB reported revenue of 295M SEK in FY2025 versus 125M SEK in FY2021, a compound +23.9%/yr. Reported net income was 97.8M SEK in FY2025, compounding +49.9%/yr from FY2021.
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Peer Group
Engineering & Construction · 817 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
Strength profile in five axes (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.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Quanta Services, Inc PWR | $620.06 | $143.92 | −77% |
| Vinci SA DG | €114.35 | €185.62 | +62% |
| Comfort Systems USA, Inc FIX | $1,615 | $519.97 | −68% |
| Larsen & Toubro Limited LT | ₹4,072 | ₹2,196 | −46% |
| Ferrovial N.V FER | €57.28 | €19.17 | −67% |
| HOCHTIEF Aktiengesellschaft HOT | €426.40 | €203.87 | −52% |
| Samsung C&T Corporation 028260 | 373,000 KRW | 261,411 KRW | −30% |
| EMCOR Group EME | $775.04 | $549.47 | −29% |
| MasTec, Inc MTZ | $241.00 | $100.00 | −59% |
| Bouygues SA EN | €46.65 | €65.67 | +41% |
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