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Saab AB (SAAB-B) Fair Value & Analysis

Industrials · SE · Market cap 280B SEK

SA Saab AB SAAB-B · ST
Pricekr 680.10
Fair Valuekr 212.84
Upside-68.7%
Quality58/100
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Healthy Growth
Thin margins · 7.9% net margin
Low debt · generates free cash flow
0.46% dividend yield
Mixed vs. peers (6/15)
Wide moat 65/100
Evidence: High Range kr 152.46 – kr 273.21 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Share price +29.7% over the past month.

A solid business, but screening 69% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 273.21). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 728.48 kr 51.10 Fair Value kr 212.84 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 51.10 – kr 728.48 · fair‑value band kr 152.46 – kr 273.21 · the kr 680.10 price screens above the kr 212.84 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

Saab AB (SAAB-B) currently trades at kr 680.10, while our model-based Fair Value estimate is kr 212.84, implying the stock looks roughly 68.7% overvalued today. The Quality Score stands at 58/100 (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, Saab AB generated revenue of 82.5B SEK at a net margin of 7.9%. Revenue grew 21.4% year over year. It earns a return on equity of 15.7%. Net debt stands at 15.2B SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 152.46 (bear case) to kr 273.21 (bull case); at kr 680.10, 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 9% below its 52-week high and 60% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -60% fair-value upside, at -69%, SAAB-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
Growth DCF kr 135.24 kr 233.61 kr 401.63 80
Residual Income kr 82.77 kr 108.99 kr 309.67 76
Rev-Margin DCF kr 121.93 kr 208.06 kr 312.12 74
All 24 models by family
DCF Models
FCF DCF kr 133.66 kr 232.98 kr 400.61 38
Owner Earnings kr 68.82 kr 123.00 kr 214.43 31
5Y Revenue Exit kr 121.93 kr 208.98 kr 322.81 39
5Y EBITDA Exit kr 156.48 kr 276.23 kr 420.43 41
5Y P/E Exit kr 152.03 kr 267.58 kr 393.40 38
10Y Revenue Exit kr 120.41 kr 203.63 kr 321.62 36
10Y EBITDA Exit kr 147.62 kr 252.46 kr 400.78 37
10Y P/E Exit kr 144.67 kr 246.18 kr 378.85 35
Earnings-Based
Graham-Dodd kr 81.04 kr 301.79 kr 407.94 54
Lynch FV kr 72.57 kr 103.68 kr 134.78 50
PEG = 1.0 kr 72.57 kr 103.68 kr 134.78 46
EPV kr 101.69 kr 121.22 kr 138.58 59
Multiples
P/E Multiple kr 187.69 kr 250.26 kr 312.82 63
P/S Multiple kr 151.94 kr 202.59 kr 253.24 58
P/B Multiple kr 151.94 kr 202.59 kr 253.24 55
EV/EBIT kr 172.15 kr 232.52 kr 292.90 53
EV/EBITDA kr 185.97 kr 250.95 kr 315.94 54
EV/Revenue kr 120.29 kr 175.70 kr 231.10 43
Asset-Based
NCAV (Graham) kr 40.90 kr 54.80 kr 81.79 50
Growth DCF
Growth DCF kr 135.24 kr 233.61 kr 401.63 80
Rev-Margin DCF kr 121.93 kr 208.06 kr 312.12 74
Economic Profit
Residual Income kr 82.77 kr 108.99 kr 309.67 76
ROIC Compounder kr 108.79 kr 149.49 kr 206.13 72
Growth Earnings
Growth-Adj P/E kr 134.52 kr 192.17 kr 249.82 68

Widest divergence: DCF Models (kr 232.98) versus Asset-Based (kr 54.80). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 82.5B SEK
Revenue growth (YoY) +21.4%
Net margin 7.9%
Return on equity 15.7%
Free cash flow 6.0B SEK FY2025
P/E ratio 55.7
More key figures
Operating margin 10.0%
EPS (TTM) kr 11.99
Dividend yield 0.5%
EPS growth (YoY) +12.8%
Net debt 15.2B SEK FY2025

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 56 · Market factors (momentum, volatility) 67

Profitability 41
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 80
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

Saab AB (publ) provides products, services, and solutions for military defense, aviation, and civil security markets in Sweden, the United States, the United Kingdom, Germany, Australia, and internationally. The company operates through Aeronautics, Dynamics, Surveillance, Kockums, and Combitech segments.

Full company description

Saab AB (publ) provides products, services, and solutions for military defense, aviation, and civil security markets in Sweden, the United States, the United Kingdom, Germany, Australia, and internationally. The company operates through Aeronautics, Dynamics, Surveillance, Kockums, and Combitech segments. The Aeronautics segment engages in the manufacture of aerial systems; development of military aviation technology; and conducting of studies of manned and unmanned aircraft for new systems and further development of existing products. Its Dynamics segment offers combat weapons, missile systems, systems for training and simulation, and signature management systems for armed forces in the civil and defense markets. The Surveillance segment provides airborne, ground-based and naval radar, electronic warfare, combat systems, and C4I solutions. Its Kockums segment develops, delivers, and maintains submarines with the Stirling system for air independent propulsion, surface combatants, mine hunting systems, autonomous vessels, torpedoes, and unmanned underwater vehicles. The Combitech segment offers services in systems development, systems integration, information security, systems security, communications, mechanics, technical product information, and logistics, as well as technology consultancy services. Saab AB (publ) was founded in 1937 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Saab AB reported revenue of kr 79.1B in FY2025 versus kr 39.2B in FY2021, a compound +19.2%/yr. Reported net income was kr 6.3B in FY2025, compounding +34.6%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
79.1B SEK
Latest YoY
+24.1%
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.
+23.5%
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.
+17.4%
Avg. growth/yr (23Y) 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.
+7.0%
Revenue +19.2%/yr
FY21 kr 39.2B
FY22 kr 42.0B
FY23 kr 51.6B
FY24 kr 63.8B
FY25 kr 79.1B
Net income +34.6%/yr
FY21 kr 1.9B
FY22 kr 2.2B
FY23 kr 3.4B
FY24 kr 4.2B
FY25 kr 6.3B
Character of growth · EPS growth decomposed (2014-2025) +14.0 % p.a.
Revenue per share +8.6 pp

of which total revenue +10.5 pp · buybacks/dilution −1.9 pp

EBIT margin +3.3 pp
Tax rate +0.3 pp
Residual (interest, one-offs) +1.8 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).

SAAB-B screens 69% overvalued. Compare with General Electric Company →

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

Earlier news

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

Peer Group

Aerospace & Defense · 225 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 58 · Above median
Fair Value upside −69% · Below median
Return on equity (TTM) 16% · Above median
Return on assets 4% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 10% · Below median
Revenue growth 21% · Above median
Dividend yield (TTM) 0.5% · Below median
Debt / equity 0.20× · Higher than median

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/E (TTM) 55.7× · Pricier than median
P/B 6.46× · Pricier than 75% of peers
P/S (TTM) 3.39× · Pricier than median
P/FCF 4.9× · Cheaper than median
EV/EBITDA 29.4× · Pricier than median
PEG 1.69× · Pricier than median

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 0
FUTURE 100 · sector 50
PAST 63 · sector 39
HEALTH 90 · sector 94
DIVIDEND 9 · sector 15

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.

Weapons Defense

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

Similar stocks

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

Stock Price Fair Value vs Fair Value
General Electric Company GE $365.33 $116.71 -68%
RTX Corporation RTX $222.76 $88.37 -60%
Airbus SE 1AIR €213.05 €86.20 -60%
The Boeing Company BA $231.20 $49.09 -79%
China CSSC Holdings 600150 ¥33.89 ¥21.90 -35%
HD Hyundai Heavy Industries Co 329180 496,000 KRW 272,966 KRW -45%
Hanwha Aerospace Co 012450 1,156,000 KRW 573,468 KRW -50%
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS 346.75 TRY 130.70 TRY -62%
Kongsberg Gruppen ASA KOG kr 330.10 kr 101.07 -69%
HD Korea Shipbuilding & Offshore Engineering Co 009540 371,500 KRW 643,950 KRW +73%

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Frequently asked questions

Is Saab AB (SAAB-B) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 212.84 versus a price of kr 680.10, about −69% (overvalued).
What is the fair value of SAAB-B?
Our model-based fair value for Saab AB is kr 212.84 (as of Aug 13, 2026), built from audited fundamentals. The current price is kr 680.10.
What is the quality score of SAAB-B?
Saab AB has a Quality Score of 58/100. 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 Saab AB (SAAB-B)?
Saab AB reported trailing-twelve-month revenue of about 82.5B SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SAAB-B?
The net profit margin of Saab AB is about 7.9%, meaning it keeps roughly 7.9% of revenue as net income. Based on the latest reported figures.
Does Saab AB pay a dividend?
Saab AB currently shows a dividend yield of about 0.46% 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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