WEBULL

Assessing Kalmar (HLSE:KALMAR) Valuation After Strategic Expansion Into DC Charging Infrastructure

Simply Wall St · 2d ago

Kalmar Oyj (HLSE:KALMAR) just expanded beyond machines into charging infrastructure, unveiling a new DC charging lineup co developed with Kempower and SINEXCEL that targets large scale electrification across global logistics hubs.

See our latest analysis for Kalmar Oyj.

The stock has quietly built strong momentum this year, with a year to date share price return of roughly 26 percent and a one year total shareholder return near 29 percent, as investors warm to Kalmar Oyj's growth and electrification push.

If Kalmar's move into charging infrastructure has you thinking bigger about logistics and industrial upgrades, it might be worth scanning fast growing stocks with high insider ownership for other under the radar compounders.

Yet with the shares up strongly this year, trading only slightly below analyst targets but still at a sizable discount to estimated intrinsic value, is Kalmar Oyj quietly undervalued or already pricing in its next leg of electrification-driven growth?

Most Popular Narrative: 3.1% Overvalued

With the narrative fair value sitting just below the last close, the story leans mildly cautious while still assuming steady progress on growth and margins.

Analysts expect earnings to reach €211.3 million (and earnings per share of €3.29) by about September 2028, up from €136.5 million today. The analysts are largely in agreement about this estimate.

Read the complete narrative.

Curious how a moderate growth outlook can still support a richer future earnings multiple than the wider machinery sector, even as margins edge higher and share count drifts lower? The narrative quietly incorporates a profitability reset, a disciplined capital structure, and a valuation anchor that depends on where investors are willing to price those upgraded earnings. Want to see exactly how those moving parts combine to justify today’s fair value call?

Result: Fair Value of €39.20 (OVERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent U.S. demand softness and intensifying AMEA price competition could easily upset those carefully modeled margin and earnings improvements.

Find out about the key risks to this Kalmar Oyj narrative.

Another View: Market Ratios Tell a Different Story

While the narrative fair value points to slight overvaluation, the earnings multiple suggests more breathing room. Kalmar trades on 17.9 times earnings versus a fair ratio of 19.6 times, and both peers and the wider machinery sector sit above 22 times. Is the market underpricing its quality and growth stability, or just being cautious?

See what the numbers say about this price — find out in our valuation breakdown.

HLSE:KALMAR PE Ratio as at Dec 2025
HLSE:KALMAR PE Ratio as at Dec 2025

Build Your Own Kalmar Oyj Narrative

If you see the story differently or prefer to stress test the numbers yourself, you can build a personalized view in just a few minutes: Do it your way.

A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding Kalmar Oyj.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.