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Wästbygg Gruppen AB (WBGR-B) Fair Value & Analysis

Industrials · SE · Market cap 326M SEK (≈ $34.2M) · ISIN SE0014453874

What is Wästbygg Gruppen AB really worth?

WG Wästbygg Gruppen AB WBGR-B · ST
Pricekr 2.74
Fair Valuekr 3.78
Upside+38.1%
Quality34/100

Below-average quality, trading 28% below our fair value of kr 3.78.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +2.1 %/yr)
!Loss-making · -13.0% net margin
!Mixed vs. peers (6/12)
!Narrow moat 18/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range kr 2.41 – kr 5.15

Fair value as of: Aug 13, 2026

From 7 valuation models · updated 22 days ago

Share price +30.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (34/100). That raises the risk this is a value trap rather than a bargain.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (kr 2.41 to kr 5.15) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

kr 101.08 kr 1.15 Fair Value kr 3.78 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range kr 1.15 – kr 101.08 · fair‑value band kr 2.41 – kr 5.15 · the kr 2.74 price screens below the kr 3.78 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Wästbygg Gruppen AB (WBGR-B) currently trades at kr 2.74, while our model-based Fair Value estimate is kr 3.78, implying the stock looks roughly 27.6% undervalued today. The Quality Score stands at 34/100 (below-average quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of kr 5.07 per share, and 6 of the 7 models we run sit above the kr 2.74 price. Bear case: the Asset-Based group reads lowest at kr 2.11, and 1 of the 7 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Wästbygg Gruppen AB generated revenue of 3.5B SEK at a net margin of −13.0%. Revenue declined 46.0% year over year. It earns a return on equity of −52.4%. Net debt stands at 158M SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 2.41 (bear case) to kr 5.15 (bull case); at kr 2.74, the current price sits within 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. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 38%, WBGR-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.

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
FCF DCF kr 3.14 kr 4.07 kr 5.78 81
Growth DCF kr 3.24 kr 4.13 kr 5.62 80
Rev-Margin DCF kr 3.16 kr 4.71 kr 6.67 73
All 7 models by family
DCF Models
FCF DCF kr 3.14 kr 4.07 kr 5.78 81
5Y Revenue Exit kr 3.16 kr 4.62 kr 6.81 72
10Y Revenue Exit kr 3.04 kr 4.20 kr 5.48 68
Multiples
EV/Revenue kr 3.46 kr 5.07 kr 6.68 53
Asset-Based
NCAV (Graham) kr 1.57 kr 2.11 kr 3.14 54
Growth DCF
Growth DCF kr 3.24 kr 4.13 kr 5.62 80
Rev-Margin DCF kr 3.16 kr 4.71 kr 6.67 73

Widest divergence: Multiples (kr 5.07) versus Asset-Based (kr 2.11). Highest evidence: FCF DCF (81).

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Key figures & financial health

P/S ratio 0.09 TTM
EPS (TTM) kr −4.24
Net margin −13.9% FY2025
Return on equity −52.4% TTM
Return on assets (EBIT) −6.0% avg 5y
Operating margin 6.0% TTM
More key figures
Growth
Revenue (TTM) 3.5B SEK TTM
Revenue growth (YoY) −46.0% 3y avg −8.1%
EPS growth (YoY) +1.6%
Balance sheet & cash flow
Free cash flow 71.0M SEK FY2025
Net debt 158M SEK FY2025 · ≈ 2.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 34/100

Of which business quality 35 · Market factors (momentum, volatility) 41

Profitability 20
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 35
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 8
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.

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

Wästbygg Gruppen AB (publ) operates as a construction and project development company in Sweden, Norway, Denmark, and Finland. It operates through three segments: Residential, Commercial, and Logistics and Industry. The company develops and constructs rental and tenant-owned apartments.

Full company description

Wästbygg Gruppen AB (publ) operates as a construction and project development company in Sweden, Norway, Denmark, and Finland. It operates through three segments: Residential, Commercial, and Logistics and Industry. The company develops and constructs rental and tenant-owned apartments. In addition, it builds and develops residential, commercial buildings, and community service properties; and logistics and industrial plants under the Logistic Contractor brand name. Further, the company serves municipalities, the state and regions, as well as real estate companies. The company was founded in 1981 and is based in Gothenburg, Sweden. Wästbygg Gruppen AB (publ) is a subsidiary of M2 Holding AB.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wästbygg Gruppen AB reported revenue of 4.0B SEK in FY2025 versus 3.9B SEK in FY2021, a compound +0.5%/yr. Reported net income was −559M SEK in FY2025.

Growth Quality 28/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
4.0B SEK
Latest YoY
−19.4%
Avg. revenue 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.
−8.1%
Avg. revenue 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.
+2.1%
Avg. revenue growth/yr (9Y) 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.
+6.3%
EBIT margin (trend) 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.
6.2% (2020) → −11.0% (2025)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +0.5%/yr
FY21 3.9B SEK
FY22 5.2B SEK
FY23 5.0B SEK
FY24 5.0B SEK
FY25 4.0B SEK
Net income
FY21 241M SEK
FY22 −17.0M SEK
FY23 −213M SEK
FY24 −213M SEK
FY25 −559M SEK

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Cite: Fair Value Calculator (2026). "Wästbygg Gruppen AB Fair Value". https://www.fairvalue-calculator.com/stock/WBGR-B

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.

Quality Score 34 · Bottom 25%
Fair Value upside +38% · Above median
Return on assets −8% · Bottom 25%
Net margin (TTM) −13% · Bottom 25%
Operating margin (TTM) 6% · Above median
Revenue growth −46% · Bottom 25%
Dividend yield (TTM) 18.0% · Top 25%
Debt / equity 0.43× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.01× · Cheaper than 75% of peers
P/FCF 0.5× · Cheaper than median

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE84 · sector 17
FUTURE0 · sector 12
PAST0 · sector 26
HEALTH79 · sector 94
DIVIDEND100 · sector 39

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

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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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%
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Frequently asked questions

Is Wästbygg Gruppen AB (WBGR-B) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 3.78 versus a price of kr 2.74, about +38% upside (undervalued).
What is the fair value of WBGR-B?
Our model-based fair value for Wästbygg Gruppen AB is kr 3.78 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 2.74.
What is the quality score of WBGR-B?
Wästbygg Gruppen AB has a Quality Score of 34/100. 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 Wästbygg Gruppen AB (WBGR-B)?
Wästbygg Gruppen AB reported trailing-twelve-month revenue of about 3.5B SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of WBGR-B?
The net profit margin of Wästbygg Gruppen AB is about −13.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
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