Fragbite Group AB (FRAG) fair value: what the stock is really worth
As of Nov 12, 2026: fair value (intrinsic value) of Fragbite Group AB stock SEK 13.64, price SEK 5.46, upside +149.9%, quality 41 out of 100. Rating: strongly undervalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
60‑month range kr 3.98 – kr 617.38 · fair‑value band kr 10.23 – kr 17.05 · the kr 5.46 price screens below the kr 13.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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Fragbite Group AB (publ) develops and publishes games, game engines, game products, and esports content in Sweden. The company develops Ips; and operates tournament concepts and an editorial business. It also offers marketing services in esports and gaming, as well as operates an advertising network.
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The company was formerly known as FunRock AB and changed its name to Fragbite Group AB (publ) in June 2021. Fragbite Group AB (publ) was founded in 2002 and is headquartered in Stockholm, Sweden.
Stock analysis
Fragbite Group AB (FRAG) currently trades at kr 5.46, while our model-based Fair Value estimate is kr 13.64, implying the stock looks roughly 60% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 132.26 per share, and 8 of the 9 models we run sit above the kr 5.46 price.
Bear case: the Asset-Based group reads lowest at kr 1.73, and 1 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 10.23 (bear) to kr 17.05 (bull), the price of kr 5.46 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 41/100 (below-average quality), in the Communication Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Fragbite Group AB reported revenue of 144M SEK in FY2025 versus 124M SEK in FY2021, a compound +3.8%/yr. Reported net income was 7.6M SEK in FY2025.
Key figures
Market cap 44.1M SEK (≈ $4.4M) Micro · P/E ratio 0.7 · P/S ratio 0.66 · EPS (TTM) kr 7.71 · Net margin 90.8% · Return on equity 218% · Return on assets (EBIT) −43.5% (5-year average) · Operating margin −58.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 42% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 44% fair-value upside, at 150%, FRAG screens cheaper than that median.
Fair Value models
Bearkr 10.23Fair Value kr 13.64Bullkr 17.05
Price kr 5.46 · Upside +149.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 6.70 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Owner Earningskr 95.07kr 132.26kr 190.1174
Residual Incomekr 7.67kr 8.79kr 11.2368
EV/EBITDAkr 5.77kr 6.12kr 6.4767
All 9 models by family
DCF Models
Owner Earningskr 95.07kr 132.26kr 190.1174
Earnings-Based
Graham-Doddkr 6.42kr 12.75kr 16.0164
Multiples
P/E Multiplekr 15.57kr 20.77kr 25.9663
P/S Multiplekr 12.03kr 16.05kr 20.0658
P/B Multiplekr 6.31kr 8.42kr 10.5255
EV/EBITDAkr 5.77kr 6.12kr 6.4767
Asset-Based
NCAV (Graham)kr 1.14kr 1.73kr 2.1654
Economic Profit
Residual Incomekr 7.67kr 8.79kr 11.2368
Growth Earnings
Growth-Adj P/Ekr 11.24kr 16.06kr 20.8865
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−32.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−17.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+99.1%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+120.8%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−486.0% (2020) → −64.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electronic Gaming & Multimedia · 180 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Fragbite Group AB Fair Value". https://www.fairvalue-calculator.com/stock/FRAG
Frequently asked questions
Is Fragbite Group AB (FRAG) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of kr 13.64 versus a price of kr 5.46, about +150% upside (undervalued).
What is the fair value of FRAG?
Our model-based fair value for Fragbite Group AB is kr 13.64 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 5.46.
What is the quality score of FRAG?
Fragbite Group AB has a Quality Score of 41/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Fragbite Group AB (FRAG)?
Our model-based price target is the fair value of kr 13.64 (as of Nov 10, 2026) from 9 valuation models. Cautious scenario kr 10.23, optimistic scenario kr 17.05. It is a calculation from audited fundamentals, not an analyst target.
What is the Fragbite Group AB stock forecast for 2026?
Our models put fair value at kr 13.64, about +150% upside versus a price of kr 5.46 (undervalued). Cautious scenario kr 10.23, optimistic scenario kr 17.05. The calculation is refreshed regularly with new filings.
What is the revenue of Fragbite Group AB (FRAG)?
Fragbite Group AB reported trailing-twelve-month revenue of about 66.9M SEK (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Fragbite Group AB (FRAG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fragbite Group AB it is kr 13.64 per share (as of Nov 10, 2026), against a price of kr 5.46. It is the blended result of 9 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Fragbite Group AB stock overvalued or undervalued in 2026?
As of Nov 10, 2026, FRAG trades below its calculated fair value: price kr 5.46, fair value kr 13.64, a gap of about +150% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FRAG?
No. The price is what the market pays today (kr 5.46); the fair value is what the company's own numbers justify (kr 13.64). For Fragbite Group AB the two are kr 8.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fragbite Group AB worth?
The market values Fragbite Group AB at about 44.1M SEK (market capitalisation, as of Nov 10, 2026). Per share that is kr 5.46; our models calculate a fair value of kr 13.64 per share.
What do the bullish and bearish scenarios say about FRAG?
Our models span a range for Fragbite Group AB: cautious scenario kr 10.23, base kr 13.64, optimistic kr 17.05 per share (as of Nov 10, 2026, price kr 5.46). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FRAG?
Fragbite Group AB trades at a price-to-earnings ratio of 0.7 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 13.64 is built from several models across several years. Other multiples: P/B 0.7, P/S 0.7.
How solid is the balance sheet of Fragbite Group AB (FRAG)?
Balance-sheet figures for Fragbite Group AB (as of Nov 10, 2026): return on equity 218.4%. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is FRAG from its 52-week high?
Fragbite Group AB trades at kr 5.46, about 42% below its 52-week high of kr 9.44 and 23% above the low of kr 4.43 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of kr 13.64 is for.
Which stocks are comparable to Fragbite Group AB?
From the same area (Communication Services) we also value NetEase, Inc, Take-Two Interactive Software, Inc, Roblox Corporation, Zhejiang Century Huatong Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Fragbite Group AB stock attractive at the current price?
The data as of Nov 10, 2026: price kr 5.46, calculated fair value kr 13.64 (+150%), Quality Score 41/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FRAG calculated?
We run Fragbite Group AB through 9 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 13.64 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.3% above its aggregate fair value. Fragbite Group AB currently trades 60% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Fragbite Group AB (FRAG)?
The closing price on Nov 12, 2026 was kr 5.46. Our model-based fair value is kr 13.64, about +150% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fragbite Group AB right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 10.23). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Fragbite Group AB
How large is the market capitalisation of Fragbite Group AB (FRAG)?
The market capitalisation of Fragbite Group AB is 44.1M SEK (≈ $4.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Fragbite Group AB (FRAG)?
The price-to-sales ratio of Fragbite Group AB is 0.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fragbite Group AB (FRAG)?
Earnings per share at Fragbite Group AB are kr 7.71 (price ÷ EPS = P/E 0.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Fragbite Group AB (FRAG)?
The net margin of Fragbite Group AB is 90.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Fragbite Group AB (FRAG)?
The return on equity (ROE) of Fragbite Group AB is 218% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Fragbite Group AB (FRAG)?
On an EBIT basis the return on assets of Fragbite Group AB is −43.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Fragbite Group AB (FRAG)?
The operating margin of Fragbite Group AB is −58.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fragbite Group AB (FRAG)?
Revenue at Fragbite Group AB is growing −88.2% versus a year earlier (3y avg −17.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Fragbite Group AB (FRAG) generate?
The free cash flow of Fragbite Group AB is −41.0M SEK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Fragbite Group AB (FRAG) hold?
Fragbite Group AB holds more cash than debt, 38.1M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 10, 2026