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Investment AB (LATO-B) Fair Value & Analysis

Industrials · SE · Market cap 127B SEK (≈ $13.3B) · ISIN SE0010100958

What is Investment AB really worth?

IA Investment AB LATO-B · ST
Pricekr 208.60
Fair Valuekr 85.20
Upside−59.2%
Quality53/100

A solid business, but trading 145% above our fair value of kr 85.20.

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Strengths

Solidly profitable · 16.1% net margin

Risks

!Expensive Growth (revenue 5y +13.4 %/yr)
!Low debt · negative free cash flow
!Mixed vs. peers (6/13)
!Moderate moat 52/100

For context

·2.44% dividend yield
Evidence: High Range kr 64.95 – kr 127.70

Fair value as of: Aug 22, 2026

From 9 valuation models · updated 14 days ago

Share price +2.7% 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 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.

Price vs Fair Value (5 years)

kr 337.19 kr 158.09 Fair Value kr 85.20 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 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 208.60 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 22, 2026.

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Analysis

Investment AB (LATO-B) currently trades at kr 208.60, while our model-based Fair Value estimate is kr 85.20, implying the stock looks roughly 144.9% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of kr 141.26 per share, and 1 of the 9 models we run sit above the kr 208.60 price. Bear case: the Asset-Based group reads lowest at kr 48.26, and 8 of the 9 models stay below the price. Evidence for this calculation is 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 22, 2026

Our scenario range runs from kr 64.95 (bear case) to kr 127.70 (bull case); at kr 208.60, 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 20% below its 52-week high and 16% 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 −59%, LATO-B screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 1.29 per share, which is 1.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

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
Residual Income best evidence kr 66.18 kr 76.20 kr 129.77 74
Owner Earnings kr 21.29 kr 50.53 kr 101.25 71
Gordon GGM kr 45.64 kr 94.88 kr 150.52 66
All 9 models by family
DCF Models
Owner Earnings kr 21.29 kr 50.53 kr 101.25 71
Earnings-Based
Graham-Dodd kr 56.50 kr 260.16 kr 357.17 64
Lynch FV kr 68.40 kr 97.72 kr 127.04 61
Dividend Discount
Gordon GGM kr 45.64 kr 94.88 kr 150.52 66
DDM Multi-Stage kr 45.64 kr 80.01 kr 99.58 66
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 54
Economic Profit
Residual Income best evidence kr 66.18 kr 76.20 kr 129.77 74

Widest divergence: Multiples (kr 141.26) versus Asset-Based (kr 48.26). Highest evidence: Residual Income (74).

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Key figures & financial health

P/E ratio 28.0 as of Jun 8, 2026
P/S ratio 4.90 P/E × margin
EPS (TTM) kr 7.00 price ÷ EPS = P/E 28.0
Dividend yield 2.4% payout 72.9%
Net margin 17.5% FY2025
Return on equity 10.3% TTM
More key figures
Profitability
Return on assets (EBIT) 5.5% avg 5y
Operating margin 12.3% TTM
Growth
Revenue (TTM) 28.0B SEK TTM
Revenue growth (YoY) −2.2% 3y avg +7.6%
EPS growth (YoY) −52.8%
Balance sheet & cash flow
Free cash flow −354M SEK FY2025
Net debt 16.6B SEK FY2025

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 51 · Market factors (momentum, volatility) 42

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 37
Price trend over the last 3–12 months (market factor)
52W Momentum 30
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.

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

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 28.1B SEK in FY2025 versus 18.6B SEK in FY2021, a compound +11.0%/yr. Reported net income was 4.9B SEK 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. 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.
+7.6%
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.
+13.4%
Avg. revenue 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%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+0.8% (−1.6 + 2.4)
Revenue +11.0%/yr
FY21 18.6B SEK
FY22 22.6B SEK
FY23 25.6B SEK
FY24 25.9B SEK
FY25 28.1B SEK
Net income +3.0%/yr
FY21 4.4B SEK
FY22 4.2B SEK
FY23 5.9B SEK
FY24 6.2B SEK
FY25 4.9B SEK
Character of growth · EPS growth decomposed (2014-2025) +6.5 % p.a.
Revenue per share +14.6 %

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

EBIT margin +1.8 %
Tax rate −0.7 %
Residual (interest, one-offs) −8.1 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

LATO-B screens 145% 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

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Conglomerates · 375 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 −59% · 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% · Above median
Revenue growth −2% · Below median
Dividend yield (TTM) 2.4% · 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

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
VALUE0 · sector 23
FUTURE0 · sector 17
PAST41 · sector 17
HEALTH87 · sector 89
DIVIDEND49 · sector 42

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

Similar stocks

10 more Conglomerates stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
ITOCHU Corporation ITOCHU19 7.20 THB 14.40 THB +100%
3M Company MMM $178.83 $76.87 −57%
Honeywell International Inc HON $217.43 $218.95 +1%
CITIC Limited 0267 HK$13.02 HK$26.04 +100%
Poste Italiane S.p.A PST €26.90 €7.65 −72%
Swire Pacific Limited 0019 HK$106.30 HK$36.88 −65%
SK Inc 034730 553,000 KRW 615,077 KRW +11%
PT Astra International Tbk, ASII 4,800 IDR 9,600 IDR +100%
Jardine Matheson Holdings J36 $59.10 $79.11 +34%
Kingboard Holdings 0148 HK$45.52 HK$32.91 −28%

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Frequently asked questions

Is Investment AB (LATO-B) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of kr 85.20 versus a price of kr 208.60, about −59% upside (overvalued).
What is the fair value of LATO-B?
Our model-based fair value for Investment AB is kr 85.20 (as of Aug 22, 2026), built from audited fundamentals. The current price: kr 208.60.
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 22, 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 2.44% relative to its recent price (as of Aug 22, 2026).
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