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    Kalmar Oyj (HLSE:KALMAR) Just Gave Investors Something To Think About

    Simply Wall St·10/11/2026 08:23:34
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    Why recent contracts matter for Kalmar Oyj stock

    Kalmar Oyj (HLSE:KALMAR) has just added another long-term services win by signing a 3-year Complete Care maintenance deal with Sweden’s Port of Halmstad that feeds directly into third quarter 2026 orders.

    This fresh contract follows new equipment and service agreements with ports in Helsingborg and Algeciras, keeping investor attention on how Kalmar Oyj balances recurring maintenance work with its equipment business.

    Recent contract wins have arrived alongside a softer tape for Kalmar Oyj, with the share price at €37.18 and a year to date share price return down 8.78%, even though the 1 year total shareholder return is up 10.32%.

    Spot similar port and logistics plays positioning for recurring service revenue by scanning our handpicked list of solid balance sheet and fundamentals (204 results).

    Contract momentum, growing services revenue and a €37.18 share price tell different stories about Kalmar Oyj. Is this logistics workhorse quietly cheap, or already fully valued on today’s numbers?

    Most Popular Narrative: 15% Undervalued

    On the widely followed narrative, Kalmar Oyj screens as undervalued, with a fair value of €43.80 against the current €37.18 share price. This puts its recent contract wins and service expansion into a different light for anyone focused on long term cash generation.

    Ongoing investments in automation, digital platforms (e.g., MyKalmar INSIGHT, Automation as a Service), and modular fleet management solutions are expanding Kalmar's recurring service revenues and increasing aftermarket attach rates, positioning the company to improve net margins through higher-margin software/services income.

    See why 11 investors see Kalmar Oyj as 15% undervalued.

    Using a 7.43% discount rate, the prevailing narrative ties that software and services push to a fair value of €43.80. This sits ahead of both the current €37.18 price and the €43.00 analyst target, so the key question for readers is whether those assumptions on future margins and recurring income feel realistic.

    Result: Fair Value of €43.80 (UNDERVALUED)

    Still, the thesis around Kalmar Oyj can unravel quickly if U.S. demand stays weak or if competitive pricing in EMEA forces tighter margins.

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

    Next Steps

    If this all sounds optimistic on Kalmar Oyj, use that as a prompt to pressure test the numbers and timing for yourself. To see which potential rewards investors are focusing on right now, start with the 4 key rewards.

    Looking for more investment ideas beyond Kalmar Oyj?

    Kalmar Oyj might be your starting point, but your next smart move is lining up a few more high quality contenders that fit your style before the crowd catches on.

    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.