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Seamless Distribution Systems AB (SDS) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Seamless Distribution Systems AB stock SEK 6.67, price SEK 6.80, that is 1.9% below the price, quality 15 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Technology SE · ISIN SE0009994445

SD Seamless Distribution Systems AB logo Thin data Nov 10, 2026

Seamless Distribution Systems AB

SDS · ST
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Fair value kr 6.67 · Fairly valued
Mixed Growth (revenue YoY −24.4 %/yr in SEK)
Mixed vs. peers (4/10)
Revenue last quarter 20% below a year ago.
Quality 15/100
Loss-making · -4.3% net margin (TTM)
High debt
Negative free cash flow
Narrow moat 14/100
Thin data
Estimate

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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

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Price vs Fair Value

kr 13.00 kr 4.50 Fair Value kr 6.67 Jan 2024 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

34‑month range kr 4.50 – kr 13.00 · fair‑value band kr 5.00 – kr 8.33 · the kr 6.80 price screens above the kr 6.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Seamless Distribution Systems AB (publ) provides software and services for digital sales and distribution to individuals through mobile operators worldwide.

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The company provides electronic topup, an electronic recharge system; voucher management system, a solution to handle the end-to-end lifecycle of recharge vouchers; mobile financial services for digital payment and money transfer; and micro credits.

It also creates, manages, and monitors promotional campaigns; and offers investment planning, inventory and distribution management, and field force optimization. Seamless Distribution Systems AB (publ) was founded in 2001 and is headquartered in Stockholm, Sweden.

Stock analysis

Seamless Distribution Systems AB (SDS) currently trades at kr 6.80, while our estimate is kr 6.67, so the stock looks roughly fairly valued today (gap 1.9%).

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: kr 5.00 (bear) to kr 8.33 (bull), the price of kr 6.80 sits inside 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 15/100 (below-average quality), in the Technology sector.

Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.

Seamless Distribution Systems AB reported revenue of 171M SEK in FY2025 versus 288M SEK in FY2021, a compound −12.2%/yr. Reported net income was −114M SEK in FY2025.

Key figures

Market cap 161M SEK (≈ $16.3M) Micro · P/S ratio 0.44 · EPS (TTM) kr −7.45 · Net margin −66.4% · Return on equity −12.1% · Return on assets (EBIT) −3.7% (5-year average) · Operating margin 5.4% · Revenue (TTM) 251M SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (medium confidence).

What moves the price

The share trades about 48% below its 52-week high and 47% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 13% fair-value upside, at −2%, SDS screens richer than that median.

Fair Value

Bear kr 5.00 Fair Value kr 6.67 Bull kr 8.33
Price kr 6.80 · Downside -1.9%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 15/100

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

Profitability 22
How much profit the company makes from its sales and capital
Quality Growth 12
Are margins and returns getting better?
Cashflow 2
Do the profits arrive as real cash?
Financial strength 1
Debt, balance sheet and risk of trouble
Investment 76
Does it invest with discipline instead of growing at any price?
Low Volatility 46
How calm the share price moves, does not count
Price momentum 39
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 34
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. 55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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.
7.3% (2020) → −47.8% (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

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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 · 723 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 15 · Bottom 25%
Fair Value upside −1.9% · Above median
Profitability
Return on assets −32.2% · Bottom 25%
Net margin (12 months) −4.3% · Below median
Operating margin (12 months) 5.4% · Above median
Growth and dividend
Revenue growth (quarter YoY) −19.9% · Bottom 25%
Balance sheet
Debt / equity 57.99× · Highest 25%

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 37.63× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 0.64× · Cheapest 25%
EV/EBITDA 14.0× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)31 · sector 25
FUTURE (revenue growth)0 · sector 40
PAST (return on equity)0 · sector 9
HEALTH (low debt)0 · sector 98
DIVIDEND (yield)0 · sector 28

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 $236.70 $463.72 +96% vs SDS
Salesforce, Inc CRM $213.48 $342.73 +61% vs SDS
Uber Technologies, Inc UBER $70.05 $101.28 +45% vs SDS
Intuit Inc INTU $340.44 $459.14 +35% vs SDS
ServiceNow, Inc NOW $99.61 $112.17 +13% vs SDS
SAP SE SAP €209.95 €173.59 −17% vs SDS
Cadence Design Systems, Inc CDNS $331.64 $225.48 −32% vs SDS
Automatic Data Processing, Inc ADP $305.44 $150.40 −51% vs SDS
Shopify Inc SHOP $146.61 $64.96 −56% vs SDS
Snowflake Inc SNOW $295.76 $73.81 −75% vs SDS

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Seamless Distribution Systems AB: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Seamless Distribution Systems AB Fair Value". https://www.fairvalue-calculator.com/stock/SDS

Frequently asked questions

Is Seamless Distribution Systems AB (SDS) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is kr 6.67 versus a price of kr 6.80, about 2% lower (fairly valued).
What is the fair value of SDS?
Our estimate for Seamless Distribution Systems AB is kr 6.67 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 6.80.
What is the quality score of SDS?
Seamless Distribution Systems AB has a Quality Score of 15/100. 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 Seamless Distribution Systems AB (SDS)?
Our calculated price target is the estimate of kr 6.67 (as of Nov 10, 2026). Cautious scenario kr 5.00, optimistic scenario kr 8.33. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Seamless Distribution Systems AB stock forecast for 2026?
Our estimate puts fair value at kr 6.67, about 2% lower versus a price of kr 6.80 (fairly valued). Cautious scenario kr 5.00, optimistic scenario kr 8.33. The calculation is refreshed regularly with new filings.
What is the revenue of Seamless Distribution Systems AB (SDS)?
Seamless Distribution Systems AB reported trailing-twelve-month revenue of about 251M SEK (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Seamless Distribution Systems AB (SDS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Seamless Distribution Systems AB it is kr 6.67 per share (as of Nov 10, 2026), against a price of kr 6.80.
Is Seamless Distribution Systems AB stock overvalued or undervalued in 2026?
As of Nov 10, 2026, SDS trades above its calculated fair value: price kr 6.80, fair value kr 6.67, a gap of about −2% (fairly valued). 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 SDS?
No. The price is what the market pays today (kr 6.80); the fair value is what the company's own numbers justify (kr 6.67). For Seamless Distribution Systems AB the two are kr 0.1300 per share apart. That gap is exactly why we show both numbers side by side.
How much is Seamless Distribution Systems AB worth?
The market values Seamless Distribution Systems AB at about 161M SEK (market capitalisation, as of Nov 10, 2026). Per share that is kr 6.80; our models calculate a fair value of kr 6.67 per share.
What do the bullish and bearish scenarios say about SDS?
Our models span a range for Seamless Distribution Systems AB: cautious scenario kr 5.00, base kr 6.67, optimistic kr 8.33 per share (as of Nov 10, 2026, price kr 6.80). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Seamless Distribution Systems AB (SDS)?
Balance-sheet figures for Seamless Distribution Systems AB (as of Nov 10, 2026): return on equity −12.1%. They feed the Quality Score of 15/100, which measures business quality independently of the share price.
How far is SDS from its 52-week high?
Seamless Distribution Systems AB trades at kr 6.80, about 48% below its 52-week high of kr 13.00 and 47% above the low of kr 4.64 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of kr 6.67 is for.
Which stocks are comparable to Seamless Distribution Systems 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 Seamless Distribution Systems AB stock attractive at the current price?
The data as of Nov 10, 2026: price kr 6.80, calculated fair value kr 6.67 (−2%), Quality Score 15/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Seamless Distribution Systems 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 Seamless Distribution Systems AB (SDS)?
The closing price on Nov 10, 2026 was kr 6.80. Our estimate is kr 6.67, about 2% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Seamless Distribution Systems AB right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Seamless Distribution Systems AB

How large is the market capitalisation of Seamless Distribution Systems AB (SDS)?
The market capitalisation of Seamless Distribution Systems AB is 161M SEK (≈ $16.3M). 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 Seamless Distribution Systems AB (SDS)?
The price-to-sales ratio of Seamless Distribution Systems AB is 0.44 (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 Seamless Distribution Systems AB (SDS)?
Earnings per share at Seamless Distribution Systems AB are kr −7.45. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Seamless Distribution Systems AB (SDS)?
The net margin of Seamless Distribution Systems AB is −66.4% (fiscal year 2025). 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 Seamless Distribution Systems AB (SDS)?
The return on equity (ROE) of Seamless Distribution Systems AB is −12.1% (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 Seamless Distribution Systems AB (SDS)?
On an EBIT basis the return on assets of Seamless Distribution Systems AB is −3.7% (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 Seamless Distribution Systems AB (SDS)?
The operating margin of Seamless Distribution Systems AB is 5.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Seamless Distribution Systems AB (SDS)?
Revenue at Seamless Distribution Systems AB is growing −19.9% versus a year earlier (3y avg −11.3%). 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 Seamless Distribution Systems AB (SDS)?
Earnings per share at Seamless Distribution Systems AB are growing −92.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Seamless Distribution Systems AB (SDS) generate?
The free cash flow of Seamless Distribution Systems AB is −30.0M 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 Seamless Distribution Systems AB (SDS) hold?
Seamless Distribution Systems AB holds more cash than debt, 2.1M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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