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1. Company Snapshot

1.a. Company Description

Troax Group AB (publ), through its subsidiaries, produces and sells mesh panels in the Nordic region, the United Kingdom, North America, Continental Europe, and internationally.The company offers machine guarding systems, such as panels, posts, fixings, doors, locks and switches, barrier protection, and stainless steel machine guards; partition walls, anti-collapse systems, shelves, mesh panels for data centers, guard rails and kick plates on mezzanine, cage storages, single and double locker systems, and art storages; and mesh partition for storage spaces in apartment buildings, cellars, and attics; storage systems; vehicle storage systems; self storage systems, such as panels, hinged doors, roll up doors, mesh, kick plates, and corner guards, soffits, and burglar bars.It also provides accessories, comprising of wire tray systems, smart posts, cutting profiles, smart splice, kick plates, end profiles, panel curves, panel flexi, snapper, edge and gap covers, foam infills, PC holders, extension brackets, functional bonding, door closer, tubes, door frame fixings, cut profile partitioning and anti-collapse, raising foot, end raising foot, corner bracket, door closer partitioning, espagnolette, secure fasteners, shelf, store room numbering, door system holder numberplates, door system kit silence, spare parts securing plates, and door reinforcements.


Troax Group AB (publ) was founded in 1955 and is headquartered in Hillerstorp, Sweden.

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1.b. Last Insights on TROAX

Troax Group AB's recent performance was positively driven by strong cash flow and promising developments in the APEC region. Despite a decline in order intake and sales, the company remains focused on long-term growth. The European market's resilience, with the STOXX Europe 600 Index rising by 2.11%, also contributed to a favorable environment. Additionally, the company's potential for growth when market conditions stabilize or improve makes it an attractive opportunity for investors seeking value, with some analysts estimating it to be trading below its intrinsic value.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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3 European Stocks That May Be Trading Below Intrinsic Value By Up To 26.7%

Nov -24

Source:

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Troax Group AB (FRA:5TOA) Q3 2025 Earnings Call Highlights: Navigating Challenges with ...

Oct -30

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European Market Gems: 3 Companies Estimated Below Fair Value

Oct -22

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European Stocks Trading At Estimated Discounts Of Up To 44.9% Below Intrinsic Value

Sep -22

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Datalogic And 2 Other European Companies That May Be Trading Below Estimated Value

Aug -15

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European Undervalued Small Caps With Insider Action To Explore In July 2025

Jul -24

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Discover European Undervalued Small Caps With Insider Buying In July 2025

Jul -22

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Troax Group AB (FRA:5TOA) Q2 2025 Earnings Call Highlights: Navigating Market Challenges with ...

Jul -21

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.60%)

6. Segments

Machine Guard

Expected Growth: 7%

Troax Group AB's Machine Guard segment growth is driven by increasing demand for workplace safety, rising industrial automation, and growing regulatory requirements. The company's innovative products and strong distribution network also contribute to its 7% growth. Additionally, the trend towards Industry 4.0 and investments in manufacturing technology are expected to further boost demand for machine safety solutions.

Warehouse and Industrial Walls

Expected Growth: 9%

Troax Group AB's 9% growth in Warehouse and Industrial Walls is driven by increasing demand for safe and efficient storage solutions, rising e-commerce sales, and growing need for automation in warehouses. Additionally, the company's focus on innovative products, strategic partnerships, and expansion into new markets contribute to its growth momentum.

Storage Solutions

Expected Growth: 8%

Troax Group AB's 8% growth in Storage Solutions is driven by increasing demand for efficient warehouse management, rising e-commerce sales, and growing need for customized storage solutions. Additionally, the company's focus on product innovation, strategic partnerships, and expansion into new markets contribute to its growth momentum.

7. Detailed Products

Machine Guarding

Troax's machine guarding products provide a safe working environment by protecting operators from hazardous machinery and equipment.

Warehouse Partitioning

Troax's warehouse partitioning solutions provide flexible and adaptable storage solutions for warehouses and distribution centers.

Property Protection

Troax's property protection products provide secure and flexible solutions for protecting valuable assets and property.

Cage and Enclosure Solutions

Troax's cage and enclosure solutions provide customized and adaptable solutions for securing high-value assets and equipment.

Mezzanine Flooring

Troax's mezzanine flooring solutions provide flexible and adaptable storage solutions for warehouses, distribution centers, and industrial facilities.

8. Troax Group AB (publ)'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Troax Group AB (publ) is moderate due to the availability of alternative products and services in the market.

Bargaining Power Of Customers

The bargaining power of customers is low due to the company's strong brand reputation and customer loyalty.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate due to the company's dependence on a few key suppliers.

Threat Of New Entrants

The threat of new entrants is high due to the low barriers to entry in the industry and the attractiveness of the market.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established players in the market and the high level of competition.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 32.31%
Debt Cost 3.95%
Equity Weight 67.69%
Equity Cost 12.16%
WACC 9.50%
Leverage 47.74%

11. Quality Control: Troax Group AB (publ) passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Aumann

A-Score: 5.6/10

Value: 8.7

Growth: 7.7

Quality: 6.5

Yield: 1.9

Momentum: 6.0

Volatility: 2.7

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MAX Automation

A-Score: 5.0/10

Value: 6.9

Growth: 4.4

Quality: 6.8

Yield: 0.0

Momentum: 2.5

Volatility: 9.3

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Nederman Holding

A-Score: 4.2/10

Value: 4.8

Growth: 6.3

Quality: 4.3

Yield: 3.1

Momentum: 1.0

Volatility: 5.3

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Troax

A-Score: 3.9/10

Value: 2.7

Growth: 6.0

Quality: 6.5

Yield: 3.8

Momentum: 1.0

Volatility: 3.7

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Concentric

A-Score: 3.5/10

Value: 0.8

Growth: 7.2

Quality: 4.1

Yield: 3.1

Momentum: 5.5

Volatility: 0.3

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Nilfisk

A-Score: 3.5/10

Value: 7.6

Growth: 3.3

Quality: 2.9

Yield: 0.0

Momentum: 2.0

Volatility: 5.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

139.2$

Current Price

139.2$

Potential

-0.00%

Expected Cash-Flows