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Wall to Wall Group (WTW-A) Fair Value & Analysis

Industrials · SE · Market cap 471M SEK (≈ $49.3M) · ISIN SE0016075246

What is Wall to Wall Group really worth?

WT Wall to Wall Group WTW-A · ST
Pricekr 31.70
Fair Valuekr 53.91
Upside+70.1%
Quality51/100

A solid business, trading 41% below our fair value of kr 53.91.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue YoY −10.7 %/yr)
!Loss-making · -30.9% net margin
!Mixed vs. peers (7/13)
!Narrow moat 13/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range kr 37.66 – kr 70.16

Fair value as of: Aug 23, 2026

From 12 valuation models · updated 13 days ago

Share price −9.4% 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 37.66). The market is more pessimistic than our downside scenario.
  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (kr 37.66 to kr 70.16) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

kr 102.36 kr 26.00 Fair Value kr 53.91 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range kr 26.00 – kr 102.36 · fair‑value band kr 37.66 – kr 70.16 · the kr 31.70 price screens below the kr 53.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

Wall to Wall Group (WTW-A) currently trades at kr 31.70, while our model-based Fair Value estimate is kr 53.91, implying the stock looks roughly 41.2% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of kr 50.32 per share, and 10 of the 12 models we run sit above the kr 31.70 price. Bear case: the Dividend Discount group reads lowest at kr 9.97, and 2 of the 12 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Wall to Wall Group generated revenue of 807M SEK at a net margin of −30.9%. Revenue declined 6.5% year over year. It earns a return on equity of −28.3%. Net debt stands at 126M SEK. Fundamentals as of Aug 23, 2026

Our scenario range runs from kr 37.66 (bear case) to kr 70.16 (bull case); at kr 31.70, 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 45% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 70%, WTW-A 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 best evidence kr 27.41 kr 38.97 kr 58.36 73
Growth DCF kr 28.64 kr 39.60 kr 56.58 71
5Y EBITDA Exit kr 29.49 kr 47.71 kr 71.84 67
All 12 models by family
DCF Models
FCF DCF best evidence kr 27.41 kr 38.97 kr 58.36 73
5Y Revenue Exit kr 28.04 kr 45.20 kr 70.13 65
5Y EBITDA Exit kr 29.49 kr 47.71 kr 71.84 67
10Y Revenue Exit kr 26.58 kr 38.44 kr 51.08 61
10Y EBITDA Exit kr 28.32 kr 39.86 kr 51.99 63
Dividend Discount
Gordon GGM kr 9.25 kr 9.97 kr 11.04 63
DDM Multi-Stage kr 9.25 kr 11.01 kr 13.28 61
Multiples
EV/EBITDA kr 38.09 kr 54.33 kr 70.58 67
EV/Revenue kr 32.03 kr 50.32 kr 68.62 53
Asset-Based
NCAV (Graham) kr 32.89 kr 44.08 kr 65.79 54
Growth DCF
Growth DCF kr 28.64 kr 39.60 kr 56.58 71
Rev-Margin DCF kr 28.04 kr 46.21 kr 68.52 65

Widest divergence: Multiples (kr 50.32) versus Dividend Discount (kr 9.97). Highest evidence: FCF DCF (73).

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Key figures & financial health

P/S ratio 0.52 TTM
EPS (TTM) kr −18.51
Dividend yield 3.2%
Net margin −33.9% FY2025
Return on equity −28.3% TTM
Return on assets (EBIT) 0.3% avg 3y
More key figures
Profitability
Operating margin −0.5% TTM
Growth
Revenue (TTM) 807M SEK TTM
Revenue growth (YoY) −6.5%
EPS growth (YoY) +371%
Balance sheet & cash flow
Free cash flow 53.2M SEK FY2025
Net debt 126M SEK FY2025 · ≈ 2.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 33

Profitability 17
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 87
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

Wall to Wall Group AB provides pipelining and flushing, pipe inspection, maintenance and sealing of ventilation ducts, and other complementary and related services in the Nordic region. The company also offers geothermal solutions for multi-family residential buildings; relining waste pipes; and smart hot water circulation.

Full company description

Wall to Wall Group AB provides pipelining and flushing, pipe inspection, maintenance and sealing of ventilation ducts, and other complementary and related services in the Nordic region. The company also offers geothermal solutions for multi-family residential buildings; relining waste pipes; and smart hot water circulation. It serves property owners, managers of residential and commercial real estate, municipal housing companies, and housing cooperatives. The company was formerly known as Tebede AB and changed its name to Wall to Wall Group AB in January 2024. The company was incorporated in 2021 and is headquartered in Kristianstad, Sweden.

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

Revenue & earnings trend

FY2023 – FY2025 · reported fiscal years

Wall to Wall Group reported revenue of 820M SEK in FY2025 versus 956M SEK in FY2023, a compound −7.4%/yr. Reported net income was −278M SEK in FY2025.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
820M SEK
Latest YoY
−10.7%
Value creation/yr We only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed
Revenue −7.4%/yr
FY23 956M SEK
FY24 919M SEK
FY25 820M SEK
Net income
FY23 17.2M SEK
FY24 13.8M SEK
FY25 −278M SEK

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Cite: Fair Value Calculator (2026). "Wall to Wall Group Fair Value". https://www.fairvalue-calculator.com/stock/WTW-A

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 51 · Above median
Fair Value upside +70% · Top 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) −31% · Bottom 25%
Operating margin (TTM) −1% · Bottom 25%
Revenue growth −7% · Below median
Dividend yield (TTM) 3.2% · Above median
Debt / equity 0.27× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers
P/FCF 0.9× · Cheaper than median
EV/EBITDA 8.5× · 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
VALUE100 · sector 17
FUTURE0 · sector 12
PAST0 · sector 26
HEALTH86 · sector 94
DIVIDEND64 · 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 23, 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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Frequently asked questions

Is Wall to Wall Group (WTW-A) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of kr 53.91 versus a price of kr 31.70, about +70% upside (undervalued).
What is the fair value of WTW-A?
Our model-based fair value for Wall to Wall Group is kr 53.91 (as of Aug 23, 2026), built from audited fundamentals. The current price: kr 31.70.
What is the quality score of WTW-A?
Wall to Wall Group has a Quality Score of 51/100. 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 Wall to Wall Group (WTW-A)?
Wall to Wall Group reported trailing-twelve-month revenue of about 807M SEK (latest available figure, as of Aug 23, 2026).
What is the net profit margin of WTW-A?
The net profit margin of Wall to Wall Group is about −30.9%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Wall to Wall Group pay a dividend?
Wall to Wall Group currently shows a dividend yield of about 3.20% relative to its recent price (as of Aug 23, 2026).
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