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Intervacc AB (IVACC) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Intervacc AB stock SEK 0.39, price SEK 0.78, that is 49.7% below the price, quality 41 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Healthcare SE · ISIN SE0009607252

IA Intervacc AB logo Thin data Nov 3, 2026

Intervacc AB

IVACC · ST
Very expensive, weak quality

Our calculation puts a fair price 50% below what the stock costs today.

Low debt
Quality 41/100
Expensive Growth (revenue 5y +33.3 %/yr in SEK)
Revenue last quarter 11% below a year ago.
Fair value kr 0.3910 · Strongly overvalued
Negative free cash flow
Trails peers (2/8)
Narrow moat 12/100 · thin data
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 70.53 kr 0.6080 Fair Value kr 0.3910 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

60‑month range kr 0.6080 – kr 70.53 · fair‑value band kr 0.2550 – kr 0.4845 · the kr 0.7780 price screens above the kr 0.3910 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.

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Company profile

Intervacc AB (publ) develops novel veterinary vaccines for animals in Sweden.

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The company's product pipeline includes Strangvac, a vaccine against equine strangles for horses; INV274, antigens for a vaccine against streptococcus suis for the treatment of weaned piglets; and INV412, a multi-component vaccine to protect against several bacteria which cause mastitis for treating cows.

It also engages in marketing and distribution of veterinary products in the Nordic markets, which includes vaccines and pharmaceuticals for swine, horses, cattle, and sheep. The company was incorporated in 1983 and is based in Hägersten, Sweden.

Stock analysis

Intervacc AB (IVACC) currently trades at kr 0.7780, while our model-based Fair Value estimate is kr 0.3910, 50% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: kr 0.2550 (bear) to kr 0.4845 (bull), the price of kr 0.7780 sits above 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 Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Intervacc AB reported revenue of 20.1M SEK in FY2025 versus 5.2M SEK in FY2021, a compound +39.9%/yr. Reported net income was −80.8M SEK in FY2025.

Key figures

Market cap 265M SEK (≈ $26.8M) Micro · P/S ratio 14.6 · EPS (TTM) kr −0.2600 · Return on equity −32.9% · Return on assets (EBIT) −27.9% (5-year average) · Operating margin −330% · Revenue (TTM) 18.1M SEK · Revenue growth (YoY) −11.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (low confidence).

What moves the price

The share trades about 44% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −50%, IVACC screens richer than that median.

Fair Value models

Bear kr 0.2550 Fair Value kr 0.3910 Bull kr 0.4845
Price kr 0.7780 · Downside -49.7%
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. 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
NCAV (Graham) kr 0.3000 kr 0.4600 kr 0.5700 55
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.3000 kr 0.4600 kr 0.5700 55

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 41/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 71
Are margins and returns getting better?
Cashflow 7
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 82
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 9
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 17
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+70.4%
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.
+27.5%
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.
+33.3%
Start year 2020 (pandemic). Over 10 years: −10.8% a year
Revenue growth 12 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.
+30.9%
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.
−537.2% (2020) → −422.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

IVACC screens overvalued: fair value 50% below the price. Compare with Vertex Pharmaceuticals Incorporated →

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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.Biotechnology · 558 stocks

Beats the industry median on 1/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 41 · Below median
Fair Value upside −49.7% · Below median
Profitability
Return on assets −27.5% · Below median
Growth and dividend
Revenue growth (quarter YoY) −11.0% · Bottom 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 0.96× · Cheapest 25%
P/S (12 months) 14.64× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 22

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Incyte Corporation INCY $119.65 $199.23 +67% vs IVACC
Regeneron Pharmaceuticals, Inc REGN $904.35 $1,275 +41% vs IVACC
Vertex Pharmaceuticals Incorporated VRTX $547.09 $601.80 +10% vs IVACC
Samsung Biologics Co 207940 1,516,000 KRW 1,667,600 KRW +10% vs IVACC
Genmab A/S GMAB kr 3,527 kr 3,880 +10% vs IVACC
WuXi Biologics (Cayman) Inc 2269 HK$47.62 HK$52.38 +10% vs IVACC
argenx SE ARGX $927.21 $908.40 −2% vs IVACC
CSL Limited CSL A$200.77 A$183.04 −9% vs IVACC
Celltrion, Inc 068270 211,000 KRW 74,945 KRW −64% vs IVACC
Royalty Pharma plc RPRX $67.30 $19.01 −72% vs IVACC

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Intervacc AB: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Intervacc AB Fair Value". https://www.fairvalue-calculator.com/stock/IVACC

Frequently asked questions

Is Intervacc AB (IVACC) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of kr 0.3910 versus a price of kr 0.7780, about 50% lower (overvalued).
What is the fair value of IVACC?
Our model-based fair value for Intervacc AB is kr 0.3910 (as of Nov 3, 2026), built from audited fundamentals. The current price: kr 0.7780.
What is the quality score of IVACC?
Intervacc 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 Intervacc AB (IVACC)?
Our model-based price target is the fair value of kr 0.3910 (as of Nov 3, 2026) from 1 valuation models. Cautious scenario kr 0.2550, optimistic scenario kr 0.4845. It is a calculation from audited fundamentals, not an analyst target.
What is the Intervacc AB stock forecast for 2026?
Our models put fair value at kr 0.3910, about 50% lower versus a price of kr 0.7780 (overvalued). Cautious scenario kr 0.2550, optimistic scenario kr 0.4845. The calculation is refreshed regularly with new filings.
What is the revenue of Intervacc AB (IVACC)?
Intervacc AB reported trailing-twelve-month revenue of about 18.1M SEK (latest available figure, as of Nov 3, 2026).
What is the intrinsic value of Intervacc AB (IVACC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Intervacc AB it is kr 0.3910 per share (as of Nov 3, 2026), against a price of kr 0.7780. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Intervacc AB stock overvalued or undervalued in 2026?
As of Nov 3, 2026, IVACC trades above its calculated fair value: price kr 0.7780, fair value kr 0.3910, a gap of about −50% (overvalued). 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 IVACC?
No. The price is what the market pays today (kr 0.7780); the fair value is what the company's own numbers justify (kr 0.3910). For Intervacc AB the two are kr 0.3870 per share apart. That gap is exactly why we show both numbers side by side.
How much is Intervacc AB worth?
The market values Intervacc AB at about 265M SEK (market capitalisation, as of Nov 3, 2026). Per share that is kr 0.7780; our models calculate a fair value of kr 0.3910 per share.
What do the bullish and bearish scenarios say about IVACC?
Our models span a range for Intervacc AB: cautious scenario kr 0.2550, base kr 0.3910, optimistic kr 0.4845 per share (as of Nov 3, 2026, price kr 0.7780). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Intervacc AB (IVACC)?
Balance-sheet figures for Intervacc AB (as of Nov 3, 2026): return on equity −32.9%. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is IVACC from its 52-week high?
Intervacc AB trades at kr 0.7780, about 44% below its 52-week high of kr 1.39 and 28% above the low of kr 0.6080 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.3910 is for.
Which stocks are comparable to Intervacc AB?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, 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 Intervacc AB stock attractive at the current price?
The data as of Nov 3, 2026: price kr 0.7780, calculated fair value kr 0.3910 (−50%), Quality Score 41/100, from 1 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 IVACC calculated?
We run Intervacc AB through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of kr 0.3910 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 13.3% above its aggregate fair value. Intervacc AB itself currently trades above fair value. 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 Intervacc AB (IVACC)?
The closing price on Nov 6, 2026 was kr 0.7780. Our model-based fair value is kr 0.3910, about 50% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Intervacc AB right now?
The price sits above even our optimistic bull case (kr 0.4845). The favourable scenario is already priced in. Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (kr 0.2550 to kr 0.4845) leaves room in how you read the outcome.

Key figures of Intervacc AB

How large is the market capitalisation of Intervacc AB (IVACC)?
The market capitalisation of Intervacc AB is 265M SEK (≈ $26.8M). 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 Intervacc AB (IVACC)?
The price-to-sales ratio of Intervacc AB is 14.6 (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 Intervacc AB (IVACC)?
Earnings per share at Intervacc AB are kr −0.2600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Intervacc AB (IVACC)?
The return on equity (ROE) of Intervacc AB is −32.9% (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 Intervacc AB (IVACC)?
On an EBIT basis the return on assets of Intervacc AB is −27.9% (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 Intervacc AB (IVACC)?
The operating margin of Intervacc AB is −330% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Intervacc AB (IVACC)?
Revenue at Intervacc AB is growing −11.0% versus a year earlier (3y avg +27.5%). 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 Intervacc AB (IVACC) generate?
The free cash flow of Intervacc AB is −66.9M 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 Intervacc AB (IVACC) hold?
Intervacc AB holds more cash than debt, 161M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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