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Maha Capital AB (0GEA) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Maha Capital AB SEK 9.28, price SEK 7.78, upside +19.4%, quality 41 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Industrials · GB · Home Sweden · ISIN SE0008374383

MC Thin data Sep 24, 2026

Maha Capital AB

0GEA · LSE

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value kr 9.28 · Undervalued (+19.4%)
!Quality 41/100
!Weak Growth (revenue 5y −32.8 %/yr)
!Low debt · negative free cash flow
!Narrow moat 16/100
!Evidence only low, so the estimate is less certain
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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 25.85 kr 3.47 Fair Value kr 9.28 Apr 2019 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range kr 3.47 – kr 25.85 · fair‑value band kr 6.13 – kr 11.60 · the kr 7.78 price screens below the kr 9.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Maha Capital AB, a fintech company, operates a digital credit platform focused on B2B payments and embedded working capital solutions in Mexico, Brazil, Canada, and Latin America.

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Maha Capital AB, a fintech company, operates a digital credit platform focused on B2B payments and embedded working capital solutions in Mexico, Brazil, Canada, and Latin America. It operates a unified digital ecosystem that enables buyers and suppliers to interact through complementary solutions designed to improve liquidity, security, transparency, and efficiency in corporate payables and expense management. The company also offers digital B2B payment platforms, such as WorKEO that enable flexible payment terms and optimize working capital cycles, as well as proprietary technology and card issuer services supporting cross-border payments and credit underwriting. In addition, the company is involved in the oil related business. It serves corporate and mid-market customers. The company was formerly known as Maha Energy AB (publ) and changed its name to Maha Capital AB (publ) in August 2025. Maha Capital AB was founded in 2013 and is headquartered in Stockholm, Sweden.

Stock analysis

Maha Capital AB (0GEA) currently trades at kr 7.78, while our model-based Fair Value estimate is kr 9.28, implying the stock looks roughly 16.2% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: kr 6.13 (bear) to kr 11.60 (bull), the price of kr 7.78 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 41/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Maha Capital AB reported revenue of $6.6M in FY2024 versus $33.2M in FY2020, a compound −33.2%/yr. Reported net income was −$26.3M in FY2025.

Key figures

Market cap 1.5B SEK (≈ $148M) · P/E ratio 0.5 · EPS (TTM) kr 0.2390 · Return on equity −17.4% · Return on assets (EBIT) −4.8% · Revenue (TTM) $6.6M · Revenue growth (YoY) +80.7% · Free cash flow −$3.9M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 50% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −24% fair-value upside, at 19%, 0GEA screens cheaper than that median.

Fair Value models

Bear kr 6.13 Fair Value kr 9.28 Bull kr 11.60
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2024 figures (about 12 months old). Earnings retained since then (kr 0.2390 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. Evidence ⓘEvidence = 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.
Highest evidence
NCAV (Graham) kr 5.05 kr 6.76 kr 10.09 54
All 1 models by family
Asset-Based
NCAV (Graham) kr 5.05 kr 6.76 kr 10.09 54

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Quality Score breakdown

Overall quality 41/100

Of which business quality 42 · Market factors (momentum, volatility) 53

Profitability 0
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 41
Share count: buybacks or dilution?

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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. 0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+66.8%
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.
+14.6%
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.
−32.8%
Revenue growth 10 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.
+20.0%
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.
60.1% (2019) → −146.2% (2024)
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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Compare Maha Capital AB with another stock

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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.Aerospace & Defense · 227 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Below median
Profitability
Return on assets −3.5% · Bottom 25%
Net margin (TTM) 0.0% · Bottom 25%
Operating margin (TTM) 0.0% · Bottom 25%
Growth and dividend
Revenue growth 80.7% · Top 25%
Balance sheet
Debt / equity 0.31× · Above median

Valuation Multiplesvs Aerospace & Defense median · lower = cheaper

P/E (TTM) 0.5× · Cheapest 25%
P/B 1.58× · Cheapest 25%
P/S (TTM) 23.54× · Priciest 25%
EV/EBITDA 35.6× · Priciest 25%

Context: sector, industry, market

Values & ESG

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

Weapons Defense

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RTX Corporation RTX $185.01 $88.30 −52%
Airbus SE AIR €185.60 €112.14 −40%
Lockheed Martin Corporation LMT $509.25 $439.62 −14%
Howmet Aerospace Inc HWM $230.94 $52.67 −77%
General Dynamics Corporation GD $334.16 $274.19 −18%
Northrop Grumman Corporation NOC $504.61 $382.98 −24%
TransDigm Group TDG $1,116 $1,228 +10%
Thales S.A HO €222.70 €170.99 −23%
Rheinmetall AG RHM €956.90 €313.19 −67%

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Maha Capital AB · Fair Value
kr 9.28 +16%Fair Value
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Cite: Fair Value Calculator (2026). "Maha Capital AB Fair Value". https://www.fairvalue-calculator.com/stock/0GEA

Frequently asked questions

Is Maha Capital AB (0GEA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 9.28 versus a price of kr 7.78, about +19% upside (undervalued).
What is the fair value of 0GEA?
Our model-based fair value for Maha Capital AB is kr 9.28 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 7.78.
What is the quality score of 0GEA?
Maha Capital 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 Maha Capital AB (0GEA)?
Our model-based price target is the fair value of kr 9.28 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario kr 6.13, optimistic scenario kr 11.60. It is a calculation from audited fundamentals, not an analyst target.
What is the Maha Capital AB stock forecast for 2026?
Our models put fair value at kr 9.28, about +19% upside versus a price of kr 7.78 (undervalued). Cautious scenario kr 6.13, optimistic scenario kr 11.60. The calculation is refreshed regularly with new filings.
What is the revenue of Maha Capital AB (0GEA)?
Maha Capital AB reported trailing-twelve-month revenue of about $6.6M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Maha Capital AB (0GEA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Maha Capital AB it is kr 9.28 per share (as of Sep 24, 2026), against a price of kr 7.78. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Maha Capital AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0GEA trades below its calculated fair value: price kr 7.78, fair value kr 9.28, a gap of about +19% (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 0GEA?
No. The price is what the market pays today (kr 7.78); the fair value is what the company's own numbers justify (kr 9.28). For Maha Capital AB the two are kr 1.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is Maha Capital AB worth?
The market values Maha Capital AB at about 1.5B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 7.78; our models calculate a fair value of kr 9.28 per share.
What do the bullish and bearish scenarios say about 0GEA?
Our models span a range for Maha Capital AB: cautious scenario kr 6.13, base kr 9.28, optimistic kr 11.60 per share (as of Sep 24, 2026, price kr 7.78). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0GEA?
Maha Capital AB trades at a price-to-earnings ratio of 0.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 9.28 is built from several models across several years. Other multiples: P/B 1.6, P/S 23.5, EV/EBITDA 35.6.
How solid is the balance sheet of Maha Capital AB (0GEA)?
Balance-sheet figures for Maha Capital AB (as of Sep 24, 2026): return on equity −17.4%, debt of 0.31 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is 0GEA from its 52-week high?
Maha Capital AB trades at kr 7.78, about 50% below its 52-week high of kr 15.48 and 14% above the low of kr 6.84 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 9.28 is for.
Which stocks are comparable to Maha Capital AB?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin Corporation, 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 Maha Capital AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 7.78, calculated fair value kr 9.28 (+19%), 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 0GEA calculated?
We run Maha Capital AB through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 9.28, 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 14.5 % above its aggregate fair value. Maha Capital AB currently trades 16 % 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 Maha Capital AB (0GEA)?
The closing price on Oct 2, 2026 was kr 7.78. Our model-based fair value is kr 9.28, about +19% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Maha Capital AB right now?
A fairly wide model range (kr 6.13 to kr 11.60) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Maha Capital AB

How large is the market capitalisation of Maha Capital AB (0GEA)?
The market capitalisation of Maha Capital AB is 1.5B SEK (≈ $148M). 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 are the earnings per share of Maha Capital AB (0GEA)?
Earnings per share at Maha Capital AB are kr 0.2390 (price ÷ EPS = P/E 0.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Maha Capital AB (0GEA)?
The return on equity (ROE) of Maha Capital AB is −17.4% (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 Maha Capital AB (0GEA)?
On an EBIT basis the return on assets of Maha Capital AB is −4.8% (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.
How fast is revenue growing at Maha Capital AB (0GEA)?
Revenue at Maha Capital AB is growing +80.7% versus a year earlier (3y avg +14.6%). 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 Maha Capital AB (0GEA) generate?
The free cash flow of Maha Capital AB is −$3.9M (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 Maha Capital AB (0GEA) hold?
Maha Capital AB holds more cash than debt, $47.6M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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