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Viaplay Group AB (publ) (VPLAY-B) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Viaplay Group AB (publ) stock SEK 1.14, price SEK 1.23, that is 6.9% below the price, quality 36 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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Communication Services SE · ISIN SE0012116390

VG Viaplay Group AB (publ) logo Thin data Nov 10, 2026

Viaplay Group AB (publ)

VPLAY-B · ST
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Last quarter vs. a year ago: revenue +31%, profit +91%.
Fair value kr 1.14 · Fairly valued
Expensive Growth (revenue 5y +8.1 %/yr in SEK)
Quality 36/100
Loss-making · -6.3% net margin (TTM)
High debt
Negative free cash flow
Trails peers (3/10)
Narrow moat 12/100
Thin data
Estimate
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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 160.95 kr 0.5540 Fair Value kr 1.14 Aug 2021 Nov 2026

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 0.5540 – kr 160.95 · fair‑value band kr 0.8600 – kr 1.43 · the kr 1.23 price screens above the kr 1.14 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

Viaplay Group AB (publ) operates as an entertainment provider company in Sweden, rest of Nordics, rest of Europe, and internationally. The company operates Viaplay, an online video streaming service, which offers live sports, series, films, and documentaries.

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It also operates advertising-supported TV channels that offer popular series, films and live sports, as well as V sport, V series and V film pay-TV channels that deliver premium entertainment for the whole family.

In addition, the company operates radio stations, that are accessible online and through mobile apps. Further, it offers audio streaming services; and content producing services, as well as satellite, IPTV, and broadband services.

The company was formerly known as Nordic Entertainment Group AB (publ) and changed its name to Viaplay Group AB (publ) in May 2022. Viaplay Group AB (publ) was founded in 1987 and is headquartered in Stockholm, Sweden.

Stock analysis

Viaplay Group AB (publ) (VPLAY-B) currently trades at kr 1.23, while our estimate is kr 1.14, so the stock looks roughly fairly valued today (gap 7.5%).

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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 0.8600 (bear) to kr 1.43 (bull), the price of kr 1.23 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 36/100 (below-average quality), in the Communication Services sector.

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

Viaplay Group AB (publ) reported revenue of 17.7B SEK in FY2025 versus 12.7B SEK in FY2021, a compound +8.7%/yr. Reported net income was −1.3B SEK in FY2025.

Key figures

Market cap 5.6B SEK (≈ $568M) Small · P/S ratio 0.26 · EPS (TTM) kr −0.2900 · Net margin −6.3% · Return on equity −50.0% · Return on assets (EBIT) −1.6% (5-year average) · Operating margin 3.2% · Revenue (TTM) 21.0B SEK.

Competitive moat

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

What moves the price

The share trades about 30% below its 52-week high and 40% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at −15% fair-value upside, at −7%, VPLAY-B screens cheaper than that median.

Fair Value

Bear kr 0.8600 Fair Value kr 1.14 Bull kr 1.43
Price kr 1.23 · Downside -6.9%
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 36/100

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

Profitability 18
How much profit the company makes from its sales and capital
Quality Growth 21
Are margins and returns getting better?
Cashflow 29
Do the profits arrive as real cash?
Financial strength 6
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 25
How calm the share price moves, does not count
Price momentum 40
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 54
Distance to the 52-week high, does not count
New shares 78
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. 24/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−4.4%
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.
+4.1%
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.
+8.1%
Start year 2020 (pandemic)
Revenue growth 9 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.
+3.6%
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.
8.8% (2020) → −0.2% (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.Entertainment · 251 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 36 · Bottom 25%
Fair Value upside −6.9% · Below median
Profitability
Return on assets −6.7% · Bottom 25%
Net margin (12 months) −6.3% · Below median
Operating margin (12 months) 3.2% · Above median
Growth and dividend
Revenue growth (quarter YoY) 30.7% · Top 25%
Balance sheet
Debt / equity 2.40× · Highest 25%

Valuation Multiplesvs Entertainment median · lower = cheaper

P/B 2.45× · 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) 0.27× · Cheapest 25%
EV/EBITDA 9.1× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)24 · sector 29
FUTURE (revenue growth)100 · sector 22
PAST (return on equity)0 · sector 4
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 46

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 Entertainment stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Netflix, Inc NFLX $63.26 $70.35 +11% vs VPLAY-B
Universal Music Group UMG €17.05 €18.88 +11% vs VPLAY-B
Fox Corporation FOX $60.25 $65.92 +9% vs VPLAY-B
Formula One Group FWONK $108.94 $112.18 +3% vs VPLAY-B
The Walt Disney Company DIS $119.21 $101.07 −15% vs VPLAY-B
News Corporation NWS $29.81 $17.05 −43% vs VPLAY-B
Liberty Live Holdings LLYVK $107.40 $38.31 −64% vs VPLAY-B
TKO Group TKO $199.22 $69.66 −65% vs VPLAY-B
Warner Music Group WMG $31.84 $10.61 −67% vs VPLAY-B
Live Nation Entertainment, Inc LYV $178.25 $47.75 −73% vs VPLAY-B

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Viaplay Group AB (publ): fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Viaplay Group AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/VPLAY-B

Frequently asked questions

Is Viaplay Group AB (publ) (VPLAY-B) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is kr 1.14 versus a price of kr 1.23, about 7% lower (fairly valued).
What is the fair value of VPLAY-B?
Our estimate for Viaplay Group AB (publ) is kr 1.14 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 1.23.
What is the quality score of VPLAY-B?
Viaplay Group AB (publ) has a Quality Score of 36/100. 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 Viaplay Group AB (publ) (VPLAY-B)?
Our calculated price target is the estimate of kr 1.14 (as of Nov 10, 2026). Cautious scenario kr 0.8600, optimistic scenario kr 1.43. 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 Viaplay Group AB (publ) stock forecast for 2026?
Our estimate puts fair value at kr 1.14, about 7% lower versus a price of kr 1.23 (fairly valued). Cautious scenario kr 0.8600, optimistic scenario kr 1.43. The calculation is refreshed regularly with new filings.
What is the revenue of Viaplay Group AB (publ) (VPLAY-B)?
Viaplay Group AB (publ) reported trailing-twelve-month revenue of about 21.0B SEK (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Viaplay Group AB (publ) (VPLAY-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Viaplay Group AB (publ) it is kr 1.14 per share (as of Nov 10, 2026), against a price of kr 1.23.
Is Viaplay Group AB (publ) stock overvalued or undervalued in 2026?
As of Nov 10, 2026, VPLAY-B trades above its calculated fair value: price kr 1.23, fair value kr 1.14, a gap of about −7% (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 VPLAY-B?
No. The price is what the market pays today (kr 1.23); the fair value is what the company's own numbers justify (kr 1.14). For Viaplay Group AB (publ) the two are kr 0.0850 per share apart. That gap is exactly why we show both numbers side by side.
How much is Viaplay Group AB (publ) worth?
The market values Viaplay Group AB (publ) at about 5.6B SEK (market capitalisation, as of Nov 10, 2026). Per share that is kr 1.23; our models calculate a fair value of kr 1.14 per share.
What do the bullish and bearish scenarios say about VPLAY-B?
Our models span a range for Viaplay Group AB (publ): cautious scenario kr 0.8600, base kr 1.14, optimistic kr 1.43 per share (as of Nov 10, 2026, price kr 1.23). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Viaplay Group AB (publ) (VPLAY-B)?
Balance-sheet figures for Viaplay Group AB (publ) (as of Nov 10, 2026): return on equity −50.0%, debt of 2.40 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is VPLAY-B from its 52-week high?
Viaplay Group AB (publ) trades at kr 1.23, about 30% below its 52-week high of kr 1.75 and 40% above the low of kr 0.8762 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of kr 1.14 is for.
Which stocks are comparable to Viaplay Group AB (publ)?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Live Nation Entertainment, Inc, TKO 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 Viaplay Group AB (publ) stock attractive at the current price?
The data as of Nov 10, 2026: price kr 1.23, calculated fair value kr 1.14 (−7%), Quality Score 36/100. 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. Viaplay Group AB (publ) 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 Viaplay Group AB (publ) (VPLAY-B)?
The closing price on Nov 10, 2026 was kr 1.23. Our estimate is kr 1.14, about 7% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Viaplay Group AB (publ) 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 Viaplay Group AB (publ)

How large is the market capitalisation of Viaplay Group AB (publ) (VPLAY-B)?
The market capitalisation of Viaplay Group AB (publ) is 5.6B SEK (≈ $568M). 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 Viaplay Group AB (publ) (VPLAY-B)?
The price-to-sales ratio of Viaplay Group AB (publ) is 0.26 (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 Viaplay Group AB (publ) (VPLAY-B)?
Earnings per share at Viaplay Group AB (publ) are kr −0.2900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Viaplay Group AB (publ) (VPLAY-B)?
The net margin of Viaplay Group AB (publ) is −6.3% (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 Viaplay Group AB (publ) (VPLAY-B)?
The return on equity (ROE) of Viaplay Group AB (publ) is −50.0% (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 Viaplay Group AB (publ) (VPLAY-B)?
On an EBIT basis the return on assets of Viaplay Group AB (publ) is −1.6% (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 Viaplay Group AB (publ) (VPLAY-B)?
The operating margin of Viaplay Group AB (publ) is 3.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Viaplay Group AB (publ) (VPLAY-B)?
Revenue at Viaplay Group AB (publ) is growing +30.7% versus a year earlier (3y avg +4.1%). 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 Viaplay Group AB (publ) (VPLAY-B)?
Earnings per share at Viaplay Group AB (publ) are growing +90.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Viaplay Group AB (publ) (VPLAY-B) generate?
The free cash flow of Viaplay Group AB (publ) is −2.3B 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 Viaplay Group AB (publ) (VPLAY-B) carry?
The net debt of Viaplay Group AB (publ) is 5.6B 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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