Munters Group AB (MTRS) Fair Value & Analysis
Industrials · SE · Market cap 30.4B SEK (≈ $3.2B) · ISIN SE0009806607
What is Munters Group AB really worth?
A solid business, but trading 227% above our fair value of kr 48.58.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 24 valuation models · updated 22 days ago
Fair value updated Aug 13, 2026, revised from kr 16.90 to kr 48.58 (+187.5%) since Jul 15, 2026. Share price −11.8% 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 76.12). The favourable scenario is already priced in.
- The model range is unusually wide (kr 21.04 to kr 76.12). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
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 49.74 – kr 249.46 · fair‑value band kr 21.04 – kr 76.12 · the kr 159.00 price screens above the kr 48.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Munters Group AB (MTRS) currently trades at kr 159.00, while our model-based Fair Value estimate is kr 48.58, implying the stock looks roughly 227.3% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Industrials sector. Bull case: the Growth DCF group reads highest at a median of kr 89.26 per share, and 0 of the 24 models we run sit above the kr 159.00 price. Bear case: the Earnings-Based group reads lowest at kr 6.17, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Munters Group AB generated revenue of 14.6B SEK at a net margin of 2.6%. Revenue declined 3.6% year over year. It earns a return on equity of 9.2%. Net debt stands at 7.9B SEK. Fundamentals as of Aug 13, 2026
Our scenario range runs from kr 21.04 (bear case) to kr 76.12 (bull case); at kr 159.00, 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 25% below its 52-week high and 46% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −69%, MTRS 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 0.6998 per share, which is 1.4 % 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.
All 24 models by family
Widest divergence: Growth DCF (kr 89.26) versus Earnings-Based (kr 6.17). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 49
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
Munters Group AB (publ) provides climate solutions in the Americas, Europe, the Middle East, Africa, and Asia-pacific. The company operates through three segments: AirTech, Data Center Technologies, and FoodTech.
Full company description
Munters Group AB (publ) provides climate solutions in the Americas, Europe, the Middle East, Africa, and Asia-pacific. The company operates through three segments: AirTech, Data Center Technologies, and FoodTech. It offers industrial and commercial dehumidification and climate control products, such as air cleaning and inlet systems, air pollution control and VOC abatement solutions, controllers and automations, coolers and humidifiers, dehumidifiers, fans, heaters, heat exchangers, mass transfer equipment, and mist eliminators. The company also provides lifecycle solutions, including service agreements, installation, start-up, commissioning, maintenance and repairs, and retrofit and upgrade. In addition, it offers its products for cold storage, cooling, dehumidification, farm management, gas liquid separation, high temperature, humidification, mass transfer, preservation, spray drying, and volatile organic compound abatement solutions. The company serves automotive, battery, chemical and fertilizer, construction and infrastructure, data centers, defense and aerospace, electronics, food and agriculture, general industry, healthcare, ice rinks and sports, and marine; oil, gas, and refineries; pharmaceuticals; power; public buildings and offices; pulp, paper, and printing; steel and cement; storage, archives, and museums; and water and wastewater industries. Munters Group AB (publ) was founded in 1955 and is headquartered in Kista, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Munters Group AB reported revenue of 14.7B SEK in FY2025 versus 7.3B SEK in FY2021, a compound +19.0%/yr. Reported net income was 106M SEK in FY2025, compounding −32.6%/yr from FY2021.
MTRS screens 227% overvalued. Compare with Veralto Corporation →
Peer Group
Pollution & Treatment Controls · 93 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.
Valuation Multiples vs Pollution & Treatment Controls median · lower = cheaper
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.
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.
Similar stocks
10 more Pollution & Treatment Controls stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veralto Corporation VLTO | $97.68 | $67.62 | −31% |
| Zurn Elkay Water Solutions Corporation ZWS | $51.02 | $24.92 | −51% |
| Canmax Technologies Co 300390 | ¥61.99 | ¥10.07 | −84% |
| CECO Environmental Corp CECO | $79.59 | $15.19 | −81% |
| Fujian Longking Co 600388 | ¥17.41 | ¥15.59 | −10% |
| China Conch Venture Holdings 0586 | HK$8.50 | HK$10.70 | +26% |
| Mega Union Technology Inc 6944 | 716.00 TWD | 415.06 TWD | −42% |
| MayAir Technology (China) Co 688376 | ¥71.82 | ¥18.80 | −74% |
| Jingjin Equipment Inc 603279 | ¥12.41 | ¥18.97 | +53% |
| Zhongyuan Environmental Protection Co 000544 | ¥7.33 | ¥13.38 | +83% |
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