Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
/
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Systemair AB is a Sweden-based company and a leading global supplier of high-quality ventilation, heating, and cooling products and systems within the HVAC sector. Founded in 1974 in Skinnskatteberg by Gerald Engström, now Vice Chairman, it develops, produces, and markets innovative, sustainable, and energy-efficient solutions for optimal indoor air quality and comfort. The company operates 25-27 production facilities across 19 countries, encompassing over 350,000 square meters of manufacturing space, and includes 90 companies in its group with approximately 6,700-6,914 employees worldwide. Systemair conducts business in 51 countries across Europe, North America, the Middle East, Asia, Australia, and Africa, exporting to more than 135 countries, with sales reaching SEK 12.3 billion in the 2024/25 financial year. Its products, marketed under brands like Systemair, Frico, Fantech, and Menerga, serve diverse markets including residential, commercial, and industrial applications, emphasizing energy efficiency, ease of installation, and environmental sustainability. Listed on Nasdaq Stockholm since 2007 with the highest AAA credit rating, Systemair AB plays a key role in advancing global indoor climate solutions.
kr 79.30
+kr 1.50 (+1.93%)
Live · 05:20 PM · Twelve Data
Operating margin is thin at 8.87%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 1.6%, essentially flat. This is a business that needs a catalyst.
Even for strong businesses, today's 22x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
21.6x earnings, 14.2x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
kr 12.50B
▲ +1.6% YoY
Net Income (TTM)
kr 764M
▲ +11.3% YoY
Op. Margin
8.87%
ROIC
9.79%
▼ -1.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
kr 1.16B
▲ +62.1% YoY
Op. Cash Flow (TTM)
kr 1.16B
▲ +39.2% YoY
Net Debt
kr 2.79B
Cash & Equiv.
kr 427M
3Y CAGR: +1.2%
3Y CAGR: +72.7%
Continue Research
At a P/E of 21.6 and a price-to-free-cash-flow of 14.2, Systemair AB (SYSR.XSTO) trades below a two-stage DCF intrinsic value of about SEK 268.88 per share, so at SEK 79.30 the stock looks undervalued (239.1% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Systemair AB scores 52/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about SEK 268.88 per share for SYSR.XSTO, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around SEK 201.66. At today's SEK 79.30, that puts the stock about 239.1% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Systemair AB scores 52 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 8.9% operating margin and a 9.8% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
That depends on valuation and quality together, not either alone. SYSR.XSTO currently trades below its estimated intrinsic value and scores 52/100 on quality (mixed). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.