Swedish Capital Goods Undervalued over 20% based on DCF

AB Volvo

Market Cap: SEK 655.3b

Manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, North America, South America, Asia, Africa, and Oceania.

AB SKF

Market Cap: SEK 106.5b

Designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide.

Skanska

Market Cap: SEK 104.2b

Operates as a construction and project development company in the Nordics, Europe, and the United States.

Trelleborg

Market Cap: SEK 82.7b

Provides engineered polymer solutions for seal, damp, and protect critical applications worldwide.

Husqvarna

Market Cap: SEK 22.3b

Produces and sells outdoor power products, watering products, and lawn care power equipment.

Electrolux Professional

Market Cap: SEK 15.7b

Provides food service, beverage, and laundry products and solutions to restaurants, hotels, healthcare, educational, and other service facilities.

Beijer Alma

Market Cap: SEK 15.5b

Engages in component manufacturing and industrial trading businesses in Sweden, rest of Nordic Region, rest of Europe, North America, Asia, and internationally.

Nolato

Market Cap: SEK 13.5b

Develops, manufactures, and sells plastic, silicone, and thermoplastic elastomer products in Europe, Asia, North America, and internationally.

Invisio

Market Cap: SEK 12.4b

Develops and sells communication and hearing protection systems for professionals in the defense, law enforcement, and security sectors in Sweden, the United Kingdom, Denmark, rest of Europe, the United States, and internationally.

Lindab International

Market Cap: SEK 12.3b

Manufactures and sells products and solutions for ventilation systems in Sweden, Denmark, Germany, France, the United Kingdom, Norway, Ireland, and internationally.

Alimak Group

Market Cap: SEK 11.9b

Designs, manufactures, sells, and services vertical access and working at height solutions worldwide.

Inwido

Market Cap: SEK 9.2b

Through its subsidiaries, engages in development, manufacture, and sale of windows and doors in Sweden.

VBG Group

Market Cap: SEK 9.0b

Develops, manufactures, markets, and sells various industrial products in Sweden, Germany, rest of the Nordic countries and Europe, the United States, rest of North America, Brazil, Australia, New Zealand, China, and internationally.

Bergman & Beving

Market Cap: SEK 7.8b

Provides solutions for the manufacturing and construction sectors in Sweden, Norway, Finland, and internationally.

Momentum Group

Market Cap: SEK 6.1b

Supplies industrial components, industrial services, and related services to the industrial sector in Sweden, Norway, Denmark, Finland, and internationally.

Troax Group

Market Cap: SEK 6.1b

Through its subsidiaries, produces and sells mesh panels in the Nordic region, the United Kingdom, North America, Europe, and internationally.

Nyab

Market Cap: SEK 4.3b

Provides engineering, construction, and maintenance services to energy, infrastructure, and industrial construction projects for public and private sectors in Finland and Sweden.

XANO Industri

Market Cap: SEK 3.5b

Develops, manufactures, and sells industrial products and automation equipment in Sweden, rest of Nordic countries, Europe, and internationally.

Idun Industrier

Market Cap: SEK 3.5b

An investment holding company, invests in and develops industrial and service businesses in Sweden, rest of Nordic countries, rest of Europe, and internationally.

Svedbergs Group

Market Cap: SEK 3.4b

Develops, manufactures, and markets bathroom products in the Nordic region, the United Kingdom, and the Netherlands.

Karnell Group

Market Cap: SEK 3.4b

A private equity firm specializing investments in add-on acquisitions, expansion and small and medium-sized companies.

Cavotec Group

Market Cap: SEK 1.5b

A cleantech company, designs and delivers connection and electrification solutions to enable the decarbonisation of ports and industrial applications worldwide.

Inission

Market Cap: SEK 1.4b

Engages in the supply of tailored manufacturing services and products in the field of industrial electronics and mechanics.

PowerCell Sweden

Market Cap: SEK 1.1b

Develops and produces fuel cells and fuel cell systems for automotive, marine, and stationary applications in Sweden and internationally.

Eolus Aktiebolag

Market Cap: SEK 907.9m

Primarily engages in the development, construction, and operation of renewable energy assets in Sweden, Finland, the United States, Poland, Spain, and the Baltic states.

W5 Solutions

Market Cap: SEK 851.6m

Develops and delivers systems and solutions for the defense and civil protection sectors in Sweden.

Nordisk Bergteknik

Market Cap: SEK 643.9m

Provides rock handling and foundation solutions in Sweden, Norway, Finland, and internationally.

SinterCast

Market Cap: SEK 623.9m

Provides process control technology to produce compacted graphite iron (CGI) for the foundry and automotive industries in Brazil, Mexico, Sweden, the United States of America, Korea, China, Spain, Japan, the United Kingdom, and internationally.