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Investment AB (LATO-B) Fair Value & Analysis

Industrials · SE · Market cap 127B SEK

IA Investment AB LATO-B · ST
Pricekr 193.50
Fair Valuekr 85.20
Upside-56.0%
Quality53/100
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Expensive Growth
Solidly profitable · 16.1% net margin
Low debt · negative free cash flow
2.58% dividend yield
Mixed vs. peers (6/13)
Moderate moat 52/100
Evidence: High Range kr 64.95 – kr 127.70 Share as image

Fair value as of: Aug 13, 2026

From 9 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from kr 141.26 to kr 85.20 (−39.7%) since Jul 17, 2026. Share price +0.5% over the past month.

A solid business, but screening 56% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 127.70). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 64.95 to kr 127.70) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 337.19 kr 158.09 Fair Value kr 85.20 May 2021 Aug 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 158.09 – kr 337.19 · fair‑value band kr 64.95 – kr 127.70 · the kr 193.50 price screens above the kr 85.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Investment AB (LATO-B) currently trades at kr 193.50, while our model-based Fair Value estimate is kr 85.20, implying the stock looks roughly 56.0% overvalued today. The Quality Score stands at 53/100 (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: high).

Over the trailing twelve months, Investment AB generated revenue of 28.0B SEK at a net margin of 16.1%. Revenue declined 2.2% year over year. It earns a return on equity of 10.3%. Net debt stands at 16.6B SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 64.95 (bear case) to kr 127.70 (bull case); at kr 193.50, the current price sits above 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 26% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 11% fair-value upside, at -56%, LATO-B 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.

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
Residual Income kr 66.18 kr 76.20 kr 129.77 76
Gordon GGM kr 45.64 kr 94.88 kr 150.52 70
P/E Multiple kr 130.87 kr 174.50 kr 218.12 63
All 9 models by family
DCF Models
Owner Earnings kr 21.29 kr 50.53 kr 101.25 31
Earnings-Based
Graham-Dodd kr 56.50 kr 260.16 kr 357.17 54
Lynch FV kr 68.40 kr 97.72 kr 127.04 50
Dividend Discount
Gordon GGM kr 45.64 kr 94.88 kr 150.52 70
DDM Multi-Stage kr 45.64 kr 80.01 kr 99.58 61
Multiples
P/E Multiple kr 130.87 kr 174.50 kr 218.12 63
P/B Multiple kr 105.95 kr 141.26 kr 176.58 55
Asset-Based
NCAV (Graham) kr 36.02 kr 48.26 kr 72.03 50
Economic Profit
Residual Income kr 66.18 kr 76.20 kr 129.77 76

Widest divergence: Multiples (kr 141.26) versus Asset-Based (kr 48.26). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 28.0B SEK
Revenue growth (YoY) -2.2%
Net margin 16.1%
Return on equity 10.3%
Free cash flow −354M SEK FY2025
P/E ratio 28.0 as of Jun 8, 2026
More key figures
Operating margin 12.3%
EPS (TTM) kr 7.00
Dividend yield 2.6%
EPS growth (YoY) -52.8%
Net debt 16.6B SEK FY2025

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

Quality Score breakdown

Overall quality 53/100

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

Profitability 45
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

Investment AB Latour (publ) is an investment firm. The firm prefer to invest in companies for long term with Development, manufacture and marketing of proprietary products under their own brands.

Full company description

Investment AB Latour (publ) is an investment firm. The firm prefer to invest in companies for long term with Development, manufacture and marketing of proprietary products under their own brands. It prefer to invest in companies with 10 percent average annual growth over a business cycle, 10 percent operating margin over a business cycle, and 15 - 20 percent return on operating capital over a business cycle. It takes an active role on the board of its investee company. The firm was previously known as AB Hevea. Investment AB Latour (publ) was founded in 1984 and is based in Gothenburg, Sweden with an additional office in Malmo, Sweden and Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Investment AB reported revenue of kr 28.1B in FY2025 versus kr 18.6B in FY2021, a compound +11.0%/yr. Reported net income was kr 4.9B in FY2025, compounding +3.0%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
28.1B SEK
Latest YoY
+8.7%
Avg. 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.
+7.6%
Avg. 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.
+13.4%
Avg. growth/yr (20Y) 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.
+9.2%
Revenue +11.0%/yr
FY21 kr 18.6B
FY22 kr 22.6B
FY23 kr 25.6B
FY24 kr 25.9B
FY25 kr 28.1B
Net income +3.0%/yr
FY21 kr 4.4B
FY22 kr 4.2B
FY23 kr 5.9B
FY24 kr 6.2B
FY25 kr 4.9B
Character of growth · EPS growth decomposed (2014-2025) +6.5 % p.a.
Revenue per share +14.6 pp

of which total revenue +14.6 pp · buybacks/dilution +0.0 pp

EBIT margin +1.8 pp
Tax rate −0.7 pp
Residual (interest, one-offs) −9.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

LATO-B screens 56% overvalued. Compare with ITOCHU Corporation →

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

Peer Group

Conglomerates · 385 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 53 · Above median
Fair Value upside −56% · Bottom 25%
Return on equity (TTM) 10% · Above median
Return on assets 4% · Above median
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 12% · Top 25%
Revenue growth -2% · Below median
Dividend yield (TTM) 2.6% · Above median
Debt / equity 0.27× · Higher than median

Valuation Multiples vs Conglomerates median · lower = cheaper

P/E (TTM) 28.0× · Pricier than median
P/B 2.98× · Pricier than 75% of peers
P/S (TTM) 4.54× · Pricier than 75% of peers
EV/EBITDA 30.3× · Pricier than 75% of peers

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.

VALUE 0 · sector 27
FUTURE 0 · sector 17
PAST 41 · sector 18
HEALTH 87 · sector 89
DIVIDEND 52 · sector 39

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

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

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SRF Limited SRF ₹2,585 ₹859.71 -67%
Empresas Copec S.A COPEC 6,030 CLP 10,809 CLP +79%
Posco International Corporation 047050 54,300 KRW 71,119 KRW +31%
Tube Investments of India Limited TIINDIA ₹2,839 ₹723.80 -75%
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Thermax Limited THERMAX ₹4,002 ₹1,343 -66%

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Frequently asked questions

Is Investment AB (LATO-B) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 85.20 versus a price of kr 193.50, about −56% (overvalued).
What is the fair value of LATO-B?
Our model-based fair value for Investment AB is kr 85.20 (as of Aug 13, 2026), built from audited fundamentals. The current price is kr 193.50.
What is the quality score of LATO-B?
Investment AB has a Quality Score of 53/100. 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 Investment AB (LATO-B)?
Investment AB reported trailing-twelve-month revenue of about 28.0B SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of LATO-B?
The net profit margin of Investment AB is about 16.1%, meaning it keeps roughly 16.1% of revenue as net income. Based on the latest reported figures.
Does Investment AB pay a dividend?
Investment AB currently shows a dividend yield of about 2.59% relative to its recent price (as of Aug 13, 2026).

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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