Nelly Group runs a multi-brand online fashion retail business in the Nordics and beyond, selling through its own e-commerce platforms and a portfolio of brands including Nelly, Nelly.com and Boozt-adjacent fashion labels. Its edge is a high gross margin of 54.7% combined with a 36.1% return on equity, which points to a capital-light model with pricing power in a crowded category. Revenue is currently shrinking, down 4.3%, so the near-term story depends on whether margin discipline can hold while volumes stabilise. At a trailing P/E of 8.2 against a forward P/E of 14.3, the market is pricing earnings to fall, which makes the next few reporting periods the key test. The name is small (1.1B SEK market cap) and carries no index membership, so it warrants a deeper look for anyone who can underwrite the top-line recovery.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 11:04 CEST | Rating | Overvalued | first publication | kr 37.72 |
| 23 Oct 2026, 11:04 CEST | Fair value | kr 25.35 | first publication | kr 37.72 |
| 23 Oct 2026, 01:52 CEST | ACCE price target | kr 38.00 | first publication | kr 37.72 |
Answered from Nelly Group AB (publ) fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| NELLY.ST Nelly Group AB (publ) | kr 37.80 | kr 25 | 49% above | 8.3x | 36.1% | 78 | 48 |
| AKA a.k.a. Brands Holding Corp. Common Stock | $10.15 | - | - | - | -25.5% | 29 | 27 |
| GFG.DE Global Fashion Group S.A. | €0.50 | - | - | - | -17.2% | 39 | 41 |
| TLYS Tilly's Inc. Common Stock | $4.44 | - | - | 74.0x | 2.3% | 37 | 56 |
| DLTH Duluth Holdings Inc. Class B Common Stock | $3.97 | - | - | 22.1x | 3.6% | 50 | 66 |
| CURV Torrid Holdings Inc. Common Stock | $2.15 | - | - | - | 0.0% | 24 | 49 |
| ZUMZ Zumiez Inc. Common Stock | $14.37 | $15 | 2% below | 20.4x | 4.5% | 38 | 43 |
Where NELLY.ST ranks against its sector peers on each metric.