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Klimator AB (KLIMAT) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Klimator AB stock SEK 0.89, price SEK 3.65, that is 75.6% below the price, quality 55 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.

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Technology SE · ISIN SE0014401329

KA Klimator AB logo Thin data Nov 5, 2026

Klimator AB

KLIMAT · ST
Solid, but very expensive

Our calculation puts a fair price 76% below what the stock costs today.

Low debt
Quality 55/100
Expensive Growth (revenue 5y +38.5 %/yr in SEK)
Loss over the last twelve months · -7.5% net margin (TTM) · fiscal year 2025 2.5%
Revenue last quarter 20% below a year ago.
Fair value kr 0.8900 · Strongly overvalued
Negative free cash flow
Trails peers (1/10)
Narrow moat 17/100 · thin data
Thin data
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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 18.72 kr 1.11 Fair Value kr 0.8900 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range kr 1.11 – kr 18.72 · fair‑value band kr 0.6200 – kr 1.09 · the kr 3.65 price screens above the kr 0.8900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.

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Company profile

Klimator AB (publ), a software company, provides road weather information solutions to the winter maintenance and automotive markets in Sweden and internationally.

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The company offers Road Condition Data (RCD), a cloud-based data-as-a service platform that provides insights on current and future road weather; and Road Status Information (RSI), a digital software-as-a-service application, which offers detailed forecasts for roads, bike paths, and pedestrian walkways.

It also provides AHEAD, a sensor technology that analyses road conditions and friction in front of a moving vehicle in real-time; and Road Weather Station, an IoT platform, which provides real-time information on how weather impacts local road conditions.

The company was founded in 1999 and is based in Gothenburg, Sweden.

Stock analysis

Klimator AB (KLIMAT) currently trades at kr 3.65, while our model-based Fair Value estimate is kr 0.8900, 76% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of kr 0.8900 per share, and 0 of the 14 models we run sit above the kr 3.65 price.

Bear case: the Asset-Based group reads lowest at kr 0.1800, and 14 of the 14 models stay below the price. Data coverage for this calculation is low.

Scenario range: kr 0.6200 (bear) to kr 1.09 (bull), the price of kr 3.65 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 55/100 (solid quality), in the Technology sector.

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

Klimator AB reported revenue of 36.3M SEK in FY2025 versus 16.4M SEK in FY2021, a compound +21.9%/yr. Reported net income was 892K SEK in FY2025.

Key figures

Market cap 128M SEK (≈ $13.0M) Micro · P/S ratio 3.60 · EPS (TTM) kr −0.0800 · Net margin −7.5% · Return on equity −97.9% · Return on assets (EBIT) −51.2% (5-year average) · Operating margin −46.2% · Revenue (TTM) 34.6M SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 17 out of 100 (low confidence).

What moves the price

The share trades about 14% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −76%, KLIMAT screens richer than that median.

Fair Value models

Bear kr 0.6200 Fair Value kr 0.8900 Bull kr 1.09
Price kr 3.65 · Downside -75.6%
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
EPV kr 0.9000 kr 1.00 kr 1.09 74
ROIC Compounder kr 0.9000 kr 1.00 kr 1.09 72
Residual Income kr 0.2600 kr 0.2800 kr 0.3500 71
All 14 models by family
Earnings-Based
Graham-Dodd kr 0.1700 kr 1.21 kr 1.69 63
Lynch FV kr 0.4200 kr 0.6100 kr 0.7900 61
PEG = 1.0 kr 0.4200 kr 0.6100 kr 0.7900 57
EPV kr 0.9000 kr 1.00 kr 1.09 74
Multiples
P/E Multiple kr 0.5300 kr 0.7100 kr 0.8900 63
P/S Multiple kr 0.3200 kr 0.4300 kr 0.5400 58
P/B Multiple kr 0.8700 kr 1.16 kr 1.45 55
EV/EBIT kr 0.8900 kr 1.26 kr 1.63 65
EV/EBITDA kr 0.6000 kr 0.8800 kr 1.15 67
EV/Revenue kr 0.3300 kr 0.5700 kr 0.8200 52
Asset-Based
NCAV (Graham) kr 0.1200 kr 0.1800 kr 0.2300 54
Economic Profit
Residual Income kr 0.2600 kr 0.2800 kr 0.3500 71
ROIC Compounder kr 0.9000 kr 1.00 kr 1.09 72
Growth Earnings
Growth-Adj P/E kr 0.6200 kr 0.8900 kr 1.16 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 55/100

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

Profitability 48
How much profit the company makes from its sales and capital
Quality Growth 100
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 64
Debt, balance sheet and risk of trouble
Investment 93
Does it invest with discipline instead of growing at any price?
Low Volatility 73
How calm the share price moves, does not count
Price momentum 43
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 31
Distance to the 52-week high, does not count
New shares 46
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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+37.6%
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.
+22.3%
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.
+38.5%
Start year 2020 (pandemic)
Revenue growth 7 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.
+17.7%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−16.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−16.9%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.−104% → 6%

KLIMAT screens overvalued: fair value 76% below the price. Compare with SAP SE →

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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.Software - Application · 628 stocks

Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 55 · Below median
Fair Value upside −75.6% · Bottom 25%
Profitability
Return on assets 2.9% · Above median
Net margin (12 months) −7.5% · Bottom 25%
Operating margin (12 months) −46.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −19.6% · Bottom 25%
Balance sheet
Debt / equity 0.11× · Above median

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 12.02× · Priciest 25%
P/S (12 months) 3.70× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 29
FUTURE (revenue growth)0 · sector 41
PAST (return on equity)0 · sector 20
HEALTH (low debt)95 · sector 98
DIVIDEND (yield)0 · sector 29

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 Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Adobe Inc ADBE $239.30 $463.72 +94% vs KLIMAT
Salesforce, Inc CRM $213.65 $342.73 +60% vs KLIMAT
Uber Technologies, Inc UBER $68.59 $101.28 +48% vs KLIMAT
Intuit Inc INTU $341.50 $459.14 +34% vs KLIMAT
ServiceNow, Inc NOW $101.97 $112.17 +10% vs KLIMAT
SAP SE SAP €210.75 €173.59 −18% vs KLIMAT
Cadence Design Systems, Inc CDNS $319.92 $225.48 −30% vs KLIMAT
Automatic Data Processing, Inc ADP $303.35 $150.40 −50% vs KLIMAT
Shopify Inc SHOP $148.91 $64.96 −56% vs KLIMAT
Snowflake Inc SNOW $275.88 $73.81 −73% vs KLIMAT

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Klimator AB: fair value per Fair Value Calculator

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

Frequently asked questions

Is Klimator AB (KLIMAT) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of kr 0.8900 versus a price of kr 3.65, about 76% lower (overvalued).
What is the fair value of KLIMAT?
Our model-based fair value for Klimator AB is kr 0.8900 (as of Nov 5, 2026), built from audited fundamentals. The current price: kr 3.65.
What is the quality score of KLIMAT?
Klimator AB has a Quality Score of 55/100. 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 Klimator AB (KLIMAT)?
Our model-based price target is the fair value of kr 0.8900 (as of Nov 5, 2026) from 14 valuation models. Cautious scenario kr 0.6200, optimistic scenario kr 1.09. It is a calculation from audited fundamentals, not an analyst target.
What is the Klimator AB stock forecast for 2026?
Our models put fair value at kr 0.8900, about 76% lower versus a price of kr 3.65 (overvalued). Cautious scenario kr 0.6200, optimistic scenario kr 1.09. The calculation is refreshed regularly with new filings.
What is the revenue of Klimator AB (KLIMAT)?
Klimator AB reported trailing-twelve-month revenue of about 34.6M SEK (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of Klimator AB (KLIMAT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Klimator AB it is kr 0.8900 per share (as of Nov 5, 2026), against a price of kr 3.65. It is the blended result of 14 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Klimator AB stock overvalued or undervalued in 2026?
As of Nov 5, 2026, KLIMAT trades above its calculated fair value: price kr 3.65, fair value kr 0.8900, a gap of about −76% (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 KLIMAT?
No. The price is what the market pays today (kr 3.65); the fair value is what the company's own numbers justify (kr 0.8900). For Klimator AB the two are kr 2.76 per share apart. That gap is exactly why we show both numbers side by side.
How much is Klimator AB worth?
The market values Klimator AB at about 128M SEK (market capitalisation, as of Nov 5, 2026). Per share that is kr 3.65; our models calculate a fair value of kr 0.8900 per share.
What do the bullish and bearish scenarios say about KLIMAT?
Our models span a range for Klimator AB: cautious scenario kr 0.6200, base kr 0.8900, optimistic kr 1.09 per share (as of Nov 5, 2026, price kr 3.65). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Klimator AB (KLIMAT)?
Balance-sheet figures for Klimator AB (as of Nov 5, 2026): return on equity −97.9%, debt of 0.11 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is KLIMAT from its 52-week high?
Klimator AB trades at kr 3.65, about 14% below its 52-week high of kr 4.23 and 7% above the low of kr 3.42 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.8900 is for.
Which stocks are comparable to Klimator AB?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, 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 Klimator AB stock attractive at the current price?
The data as of Nov 5, 2026: price kr 3.65, calculated fair value kr 0.8900 (−76%), Quality Score 55/100, from 14 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 KLIMAT calculated?
We run Klimator AB through 14 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 0.8900 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. Klimator 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 Klimator AB (KLIMAT)?
The closing price on Nov 6, 2026 was kr 3.65. Our model-based fair value is kr 0.8900, about 76% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Klimator AB right now?
The price sits above even our optimistic bull case (kr 1.09). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Klimator AB

How large is the market capitalisation of Klimator AB (KLIMAT)?
The market capitalisation of Klimator AB is 128M SEK (≈ $13.0M). 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 Klimator AB (KLIMAT)?
The price-to-sales ratio of Klimator AB is 3.60 (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 Klimator AB (KLIMAT)?
Earnings per share at Klimator AB are kr −0.0800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Klimator AB (KLIMAT)?
The net margin of Klimator AB is −7.5% (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 Klimator AB (KLIMAT)?
The return on equity (ROE) of Klimator AB is −97.9% (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 Klimator AB (KLIMAT)?
On an EBIT basis the return on assets of Klimator AB is −51.2% (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 Klimator AB (KLIMAT)?
The operating margin of Klimator AB is −46.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Klimator AB (KLIMAT)?
Revenue at Klimator AB is growing −19.6% versus a year earlier (3y avg +22.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Klimator AB (KLIMAT)?
Earnings per share at Klimator AB are growing +109% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Klimator AB (KLIMAT) generate?
The free cash flow of Klimator AB is −3.1M 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 debt does Klimator AB (KLIMAT) carry?
The net debt of Klimator AB is 8.2M SEK (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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