Train Alliance Sweden AB Series B (TRAIN-B) fair value: what the stock is really worth
As of Oct 26, 2026: fair value (intrinsic value) of Train Alliance Sweden AB Series B stock SEK 16.74, price SEK 5.58, upside +200.0%, quality 52 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?Yes
Good quality?Yes
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 27, 2026.
How to read this chart
60‑month range kr 3.93 – kr 32.99 · fair‑value band kr 7.49 – kr 44.70 · the kr 5.58 price screens below the kr 16.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 27, 2026.
Follow Train Alliance Sweden AB Series B in your weekly email
Every Wednesday you see whether Train Alliance Sweden AB Series B is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
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.
Show moreShow less
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.
Stock analysis
Train Alliance Sweden AB Series B (TRAIN-B) currently trades at kr 5.58, while our model-based Fair Value estimate is kr 16.74, implying the stock looks roughly 66.7% undervalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 59.73 per share, and 21 of the 24 models we run sit above the kr 5.58 price.
Bear case: the Economic Profit group reads lowest at kr 4.47, and 3 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 7.49 (bear) to kr 44.70 (bull), the price of kr 5.58 sits below 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 52/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Train Alliance Sweden AB Series B 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.
Key figures
Market cap 442M SEK (≈ $44.4M) Micro · P/E ratio 22.4 · P/S ratio 7.44 · EPS (TTM) kr −2.60 · Net margin 33.2% · Return on equity −17.5% · Return on assets (EBIT) 3.3% · Operating margin −222%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 73% below its 52-week high and 42% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −29% fair-value upside, at 200%, TRAIN-B screens cheaper than that median.
Fair Value models
Bearkr 7.49Fair Value kr 16.74Bullkr 44.70
Price kr 5.58 · Upside +200.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+13.5%
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.
+27.8%
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.
+56.4%
Start year 2020 (pandemic). Over 10 years: +14.5% a year
Revenue growth 13 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.
+14.7%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+15.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.2%
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.37.6% vs 11.3%, picking up
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.89% → 24%
2025 sits 165% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+4.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +2.8% a year for the price.
Compare Train Alliance Sweden AB Series B with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Engineering & Construction · 802 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside+200.0% · Top 25%
Profitability
Return on assets4.3% · Above median
Net margin (12 months)33.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−77.8% · Bottom 25%
Balance sheet
Debt / equity0.37× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Train Alliance Sweden AB Series B Fair Value". https://www.fairvalue-calculator.com/stock/TRAIN-B
Frequently asked questions
Is Train Alliance Sweden AB Series B (TRAIN-B) overvalued or undervalued?
As of Oct 27, 2026, our model estimates a fair value of kr 16.74 versus a price of kr 5.58, about +200% upside (undervalued).
What is the fair value of TRAIN-B?
Our model-based fair value for Train Alliance Sweden AB Series B is kr 16.74 (as of Oct 27, 2026), built from audited fundamentals. The current price: kr 5.58.
What is the quality score of TRAIN-B?
Train Alliance Sweden AB Series B 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 price target for Train Alliance Sweden AB Series B (TRAIN-B)?
Our model-based price target is the fair value of kr 16.74 (as of Oct 27, 2026) from 24 valuation models. Cautious scenario kr 7.49, optimistic scenario kr 44.70. It is a calculation from audited fundamentals, not an analyst target.
What is the Train Alliance Sweden AB Series B stock forecast for 2026?
Our models put fair value at kr 16.74, about +200% upside versus a price of kr 5.58 (undervalued). Cautious scenario kr 7.49, optimistic scenario kr 44.70. The calculation is refreshed regularly with new filings.
What is the revenue of Train Alliance Sweden AB Series B (TRAIN-B)?
Train Alliance Sweden AB Series B reported trailing-twelve-month revenue of about 99.8M SEK (latest available figure, as of Oct 27, 2026).
What growth is priced into Train Alliance Sweden AB Series B (TRAIN-B)?
For today's price to be fair in a discounted-cash-flow model, Train Alliance Sweden AB Series B would have to grow free cash flow by +4.8 % per year for five years (discount rate 8.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +56.4 % per year. As of Oct 27, 2026.
What discount rate (WACC) does the fair value of TRAIN-B use?
Our models discount Train Alliance Sweden AB Series B at 8.4 %: a base by market capitalisation (nano), damped by beta 0.52, country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Train Alliance Sweden AB Series B that is +4.8 % per year a year over ten years, using the same discount rate (8.4 %) and the same formula as our fair value.
How much growth has Train Alliance Sweden AB Series B (TRAIN-B) delivered so far?
Over the past 5 years revenue at Train Alliance Sweden AB Series B grew +56.4 % a year. The price currently implies +4.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Train Alliance Sweden AB Series B (TRAIN-B) growing?
The median revenue growth in the sector is +7.6 % a year. That is the yardstick for the growth priced into Train Alliance Sweden AB Series B (+4.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Train Alliance Sweden AB Series B (TRAIN-B)?
The free-cash-flow yield on the price is 8.80 %: that much free cash flow Train Alliance Sweden AB Series B produces per unit of market value. When it exceeds the discount rate of our models (8.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Train Alliance Sweden AB Series B (TRAIN-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Train Alliance Sweden AB Series B it is kr 16.74 per share (as of Oct 27, 2026), against a price of kr 5.58. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Train Alliance Sweden AB Series B stock overvalued or undervalued in 2026?
As of Oct 27, 2026, TRAIN-B trades below its calculated fair value: price kr 5.58, fair value kr 16.74, a gap of about +200% (undervalued). 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 TRAIN-B?
No. The price is what the market pays today (kr 5.58); the fair value is what the company's own numbers justify (kr 16.74). For Train Alliance Sweden AB Series B the two are kr 11.16 per share apart. That gap is exactly why we show both numbers side by side.
How much is Train Alliance Sweden AB Series B worth?
The market values Train Alliance Sweden AB Series B at about 442M SEK (market capitalisation, as of Oct 27, 2026). Per share that is kr 5.58; our models calculate a fair value of kr 16.74 per share.
What do the bullish and bearish scenarios say about TRAIN-B?
Our models span a range for Train Alliance Sweden AB Series B: cautious scenario kr 7.49, base kr 16.74, optimistic kr 44.70 per share (as of Oct 27, 2026, price kr 5.58). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TRAIN-B?
Train Alliance Sweden AB Series B trades at a price-to-earnings ratio of 22.4 (as of Oct 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 16.74 is built from several models across several years. Other multiples: P/B 0.3, P/S 4.4.
How solid is the balance sheet of Train Alliance Sweden AB Series B (TRAIN-B)?
Balance-sheet figures for Train Alliance Sweden AB Series B (as of Oct 27, 2026): return on equity −17.5%, debt of 0.37 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is TRAIN-B from its 52-week high?
Train Alliance Sweden AB Series B trades at kr 5.58, about 73% below its 52-week high of kr 20.70 and 42% above the low of kr 3.93 (as of Oct 26, 2026). Distance from the high says nothing about value: that is what the fair value of kr 16.74 is for.
Which stocks are comparable to Train Alliance Sweden AB Series B?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, 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 Train Alliance Sweden AB Series B stock attractive at the current price?
The data as of Oct 27, 2026: price kr 5.58, calculated fair value kr 16.74 (+200%), Quality Score 52/100, from 24 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 TRAIN-B calculated?
We run Train Alliance Sweden AB Series B through 24 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 kr 16.74, 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 12.7 % above its aggregate fair value. Train Alliance Sweden AB Series B currently trades 67 % below its own fair value, and the market average says nothing about that. 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 is the share price of Train Alliance Sweden AB Series B (TRAIN-B)?
The closing price on Oct 26, 2026 was kr 5.58. Our model-based fair value is kr 16.74, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Train Alliance Sweden AB Series B right now?
The price is below even our cautious bear case (kr 7.49). The market is more pessimistic than our downside scenario. The model range is unusually wide (kr 7.49 to kr 44.70). 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 (52/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Train Alliance Sweden AB Series B
How large is the market capitalisation of Train Alliance Sweden AB Series B (TRAIN-B)?
The market capitalisation of Train Alliance Sweden AB Series B is 442M SEK (≈ $44.4M). 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 Train Alliance Sweden AB Series B (TRAIN-B)?
The price-to-sales ratio of Train Alliance Sweden AB Series B is 7.44 (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 Train Alliance Sweden AB Series B (TRAIN-B)?
Earnings per share at Train Alliance Sweden AB Series B are kr −2.60 (price ÷ EPS = P/E 22.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Train Alliance Sweden AB Series B (TRAIN-B)?
The net margin of Train Alliance Sweden AB Series B is 33.2% (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 Train Alliance Sweden AB Series B (TRAIN-B)?
The return on equity (ROE) of Train Alliance Sweden AB Series B is −17.5% (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 Train Alliance Sweden AB Series B (TRAIN-B)?
On an EBIT basis the return on assets of Train Alliance Sweden AB Series B is 3.3% (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.
What is the operating margin of Train Alliance Sweden AB Series B (TRAIN-B)?
The operating margin of Train Alliance Sweden AB Series B is −222% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Train Alliance Sweden AB Series B (TRAIN-B)?
Revenue at Train Alliance Sweden AB Series B is growing −77.8% versus a year earlier (3y avg +27.8%). 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 Train Alliance Sweden AB Series B (TRAIN-B)?
Earnings per share at Train Alliance Sweden AB Series B are growing +11.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Train Alliance Sweden AB Series B (TRAIN-B) carry?
The net debt of Train Alliance Sweden AB Series B is 459M SEK (fiscal year 2025, ≈ 11.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Train Alliance Sweden AB Series B in the live analysis
One click puts Train Alliance Sweden AB Series B on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 28,000+ stock screener.
Thin data
Oct 27, 2026