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CellaVision AB (0MR5) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of CellaVision AB SEK 110, price SEK 170, upside -35.0%, quality 68 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Healthcare · GB · Home Sweden · ISIN SE0000683484

CA Some data Sep 24, 2026

CellaVision AB

0MR5 · LSE

Stretched ValuationQuality growthStrong overvaluation with only moderate quality.

!Fair value kr 110.28 · Strongly overvalued (−35.0%)
✓Quality 68/100
!Mixed Growth (revenue 3y +15.7 %/yr)
✓Solidly profitable · 17.5% net margin (TTM)
✓Low debt
·1.6% dividend yield · Safety not assessed
✓Wide moat 71/100
!Evidence only medium, so the estimate is less certain

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 460.49 kr 118.58 Fair Value kr 110.28 Jul 2021 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 118.58 – kr 460.49 · fair‑value band kr 65.44 – kr 143.38 · the kr 169.70 price screens above the kr 110.28 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

CellaVision AB (publ) develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

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CellaVision AB (publ) develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally. The company provides analyzers for microscopy systems; and DIFF-Line, a hematology lab that handles a smaller amount daily blood samples, as well as consists of three instruments, such as CellaVision DC-1, RAL SmearBox, and RAL StainBox for smearing, staining, and analyzing peripheral blood smears. It also provides CellaVision DC-1 for performing blood cell differentials; and CellaVision DM1200 and CellaVision DM9600 to automate and simplify the process of performing blood and body fluid differentials. In addition, the company's CellaVision Bone Marrow Aspirate Application enables laboratories to automate, standardize, and simplify morphological examination of bone marrow aspirate samples; CellaVision Peripheral Blood Application enables laboratories to automate, standardize and simplify morphological examination like peripheral blood smears; CellaVision Advanced RBC Application performs a more comprehensive examination for red blood cell morphology; CellaVision Body Fluid Application is for examination body fluid preparations; CellaVision CellAtlas, a library of blood cell images and descriptions created by digital cell morphology experts; CellaVision Review Software removes restrictive constraints from smear review process and performs better; CellaVision Server Software creates a single streamlined workflow within one or multiple testing sites; and CellaVision VET is a veterinary lab. It sells its products to hospitals and commercial laboratories. The company was incorporated in 1994 and is based in Lund, Sweden.

Stock analysis

CellaVision AB (0MR5) currently trades at kr 169.70, while our model-based Fair Value estimate is kr 110.28, 35.0% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of kr 68.37 per share, and 0 of the 25 models we run sit above the kr 169.70 price.

Bear case: the Dividend Discount group reads lowest at kr 12.69, and 25 of the 25 models stay below the price. Evidence for this calculation is medium.

Scenario range: kr 65.44 (bear) to kr 143.38 (bull), the price of kr 169.70 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 68/100 (solid quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

CellaVision AB reported revenue of 566M SEK in FY2021 versus 309M SEK in FY2017, a compound +16.3%/yr. Reported net income was 125M SEK in FY2021, compounding +15.8%/yr from FY2017.

Key figures

Market cap 8.2B SEK (≈ $812M) · P/S ratio 11.0 · Dividend yield 1.6% · Net margin 22.2% · Return on equity 15.1% · Return on assets (EBIT) 23.2% · Operating margin 20.6% · Revenue (TTM) 739M SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (medium confidence).

What moves the price

The share trades about 8% below its 52-week high and 43% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 6% fair-value upside, at −35%, 0MR5 screens richer than that median.

Fair Value models

Bear kr 65.44 Fair Value kr 110.28 Bull kr 143.38
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. 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
EPV kr 22.79 kr 25.80 kr 28.31 74
FCF DCF kr 34.69 kr 57.47 kr 110.89 73
Growth DCF kr 33.42 kr 60.84 kr 99.60 72
All 25 models by family
DCF Models
FCF DCF kr 34.69 kr 57.47 kr 110.89 73
5Y Revenue Exit kr 28.74 kr 52.11 kr 85.27 67
5Y EBITDA Exit kr 38.84 kr 74.84 kr 122.99 69
5Y P/E Exit kr 38.95 kr 75.10 kr 119.53 65
10Y Revenue Exit kr 29.67 kr 52.34 kr 88.73 61
10Y EBITDA Exit kr 36.81 kr 68.37 kr 121.79 62
10Y P/E Exit kr 36.88 kr 68.55 kr 118.90 58
Earnings-Based
Graham-Dodd kr 17.73 kr 108.41 kr 151.23 61
Lynch FV kr 31.05 kr 44.35 kr 57.66 58
PEG = 1.0 kr 31.05 kr 44.35 kr 57.66 55
EPV kr 22.79 kr 25.80 kr 28.31 74
Dividend Discount
Gordon GGM kr 7.71 kr 13.89 kr 19.13 65
DDM Multi-Stage kr 7.71 kr 12.69 kr 14.84 64
Multiples
P/E Multiple kr 43.02 kr 57.37 kr 71.71 63
P/S Multiple kr 30.88 kr 41.18 kr 51.47 58
P/B Multiple kr 33.25 kr 44.33 kr 55.41 55
EV/EBIT kr 43.88 kr 58.27 kr 72.66 66
EV/EBITDA kr 43.56 kr 57.84 kr 72.12 67
EV/Revenue kr 25.42 kr 36.01 kr 46.60 54
Asset-Based
NCAV (Graham) kr 5.65 kr 7.57 kr 11.30 54
Growth DCF
Growth DCF kr 33.42 kr 60.84 kr 99.60 72
Rev-Margin DCF kr 28.74 kr 51.26 kr 83.16 67
Economic Profit
Residual Income kr 14.48 kr 19.33 kr 32.96 70
ROIC Compounder kr 26.44 kr 34.82 kr 45.38 69
Growth Earnings
Growth-Adj P/E kr 45.74 kr 65.35 kr 84.95 65

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Quality Score breakdown

Overall quality 68/100

Of which business quality 69 · Market factors (momentum, volatility) 52

Profitability 78
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)

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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. 92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+20.0%
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.
+15.7%
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.
29.4% (2017) → 28.8% (2021)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

0MR5 screens overvalued: fair value 35% below the price. Compare with Abbott Laboratories, →

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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 Medical Devices stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $98.83 $74.79 −24%
Medtronic plc MDT $87.09 $65.61 −25%
Stryker Corporation SYK $278.77 $306.65 +10%
Boston Scientific Corporation BSX $43.65 $48.02 +10%
Edwards Lifesciences Corporation EW $85.19 $81.94 −4%
Siemens Healthineers AG SHL €37.86 €35.19 −7%
DexCom, Inc DXCM $86.68 $95.35 +10%
GE HealthCare Technologies Inc GEHC $66.63 $70.37 +6%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥153.86 ¥169.25 +10%
Koninklijke Philips N.V PHIA €21.87 €15.23 −30%

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CellaVision AB · Fair Value
kr 110.28 −35%Fair Value
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Cite: Fair Value Calculator (2026). "CellaVision AB Fair Value". https://www.fairvalue-calculator.com/stock/0MR5

Frequently asked questions

Is CellaVision AB (0MR5) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 110.28 versus a price of kr 169.70, about −35% upside (overvalued).
What is the fair value of 0MR5?
Our model-based fair value for CellaVision AB is kr 110.28 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 169.70.
What is the quality score of 0MR5?
CellaVision AB has a Quality Score of 68/100. 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 CellaVision AB (0MR5)?
Our model-based price target is the fair value of kr 110.28 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario kr 65.44, optimistic scenario kr 143.38. It is a calculation from audited fundamentals, not an analyst target.
What is the CellaVision AB stock forecast for 2026?
Our models put fair value at kr 110.28, about −35% upside versus a price of kr 169.70 (overvalued). Cautious scenario kr 65.44, optimistic scenario kr 143.38. The calculation is refreshed regularly with new filings.
What is the revenue of CellaVision AB (0MR5)?
CellaVision AB reported trailing-twelve-month revenue of about 739M SEK (latest available figure, as of Sep 24, 2026).
Does CellaVision AB pay a dividend?
CellaVision AB currently shows a dividend yield of about 1.62% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of CellaVision AB (0MR5)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CellaVision AB it is kr 110.28 per share (as of Sep 24, 2026), against a price of kr 169.70. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is CellaVision AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0MR5 trades above its calculated fair value: price kr 169.70, fair value kr 110.28, a gap of about −35% (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 0MR5?
No. The price is what the market pays today (kr 169.70); the fair value is what the company's own numbers justify (kr 110.28). For CellaVision AB the two are kr 59.42 per share apart. That gap is exactly why we show both numbers side by side.
How much is CellaVision AB worth?
The market values CellaVision AB at about 8.2B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 169.70; our models calculate a fair value of kr 110.28 per share.
What do the bullish and bearish scenarios say about 0MR5?
Our models span a range for CellaVision AB: cautious scenario kr 65.44, base kr 110.28, optimistic kr 143.38 per share (as of Sep 24, 2026, price kr 169.70). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0MR5 from its 52-week high?
CellaVision AB trades at kr 169.70, about 8% below its 52-week high of kr 184.52 and 43% above the low of kr 118.58 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 110.28 is for.
Which stocks are comparable to CellaVision AB?
From the same area (Healthcare) we also value Abbott Laboratories,, Medtronic plc, Stryker Corporation, Boston Scientific 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 CellaVision AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 169.70, calculated fair value kr 110.28 (−35%), Quality Score 68/100, from 25 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 0MR5 calculated?
We run CellaVision AB through 25 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 110.28, 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. CellaVision 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 CellaVision AB (0MR5)?
The closing price on Oct 2, 2026 was kr 169.70. Our model-based fair value is kr 110.28, about −35% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CellaVision AB right now?
The price sits above even our optimistic bull case (kr 143.38). The favourable scenario is already priced in. Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 65.44 to kr 143.38) leaves room in how you read the outcome.

Key figures of CellaVision AB

How large is the market capitalisation of CellaVision AB (0MR5)?
The market capitalisation of CellaVision AB is 8.2B SEK (≈ $812M). 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 CellaVision AB (0MR5)?
The price-to-sales ratio of CellaVision AB is 11.0 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of CellaVision AB (0MR5)?
The dividend yield of CellaVision AB is 1.6%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of CellaVision AB (0MR5)?
The net margin of CellaVision AB is 22.2% (fiscal year 2021). 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 CellaVision AB (0MR5)?
The return on equity (ROE) of CellaVision AB is 15.1% (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 CellaVision AB (0MR5)?
On an EBIT basis the return on assets of CellaVision AB is 23.2% (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 CellaVision AB (0MR5)?
The operating margin of CellaVision AB is 20.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CellaVision AB (0MR5)?
Revenue at CellaVision AB is growing +4.5% versus a year earlier (3y avg +15.7%). 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 CellaVision AB (0MR5)?
Earnings per share at CellaVision AB are growing −13.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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