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Kinnevik Investment AB ser. B (0RH1) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Kinnevik Investment AB ser. B SEK 111, price SEK 62.36, upside +77.5%, quality 42 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
  3. Add to watchlist

Industrials · GB · Home Sweden · ISIN SE0015810247

KI Thin data Sep 24, 2026

Kinnevik Investment AB ser. B

0RH1 · LSE

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value kr 110.67 · Strongly undervalued (+77.5%)
!Quality 42/100
!Weak Growth (revenue 5y −64.2 %/yr)
!negative free cash flow
✓Ranks above peers (5/8)
!Narrow moat 39/100
!Evidence only low, so the estimate is less certain
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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 330.61 kr 47.81 Fair Value kr 110.67 Jun 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 47.81 – kr 330.61 · fair‑value band kr 83.00 – kr 138.33 · the kr 62.36 price screens below the kr 110.67 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Kinnevik AB is a venture capital firm specializing in investments in early to late venture and growth capital. The firm also prefers indirect investments in venture capital funds.

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Kinnevik AB is a venture capital firm specializing in investments in early to late venture and growth capital. The firm also prefers indirect investments in venture capital funds. It prefers to invest in digital consumer business, education, communication, e-commerce and marketplaces, entertainment, healthcare, and financial services but may also invest in other areas. The firm invests worldwide, especially in Europe with a focus on the Nordics, Latin America, Asia, Australia, Africa, and North America. The firm looks for disruptive, technology-enabled and value-added consumer services in developed and emerging markets. It takes an active role on the boards of its subsidiaries and associated companies. It acts as a long-term lead shareholder in large listed entities. Kinnevik AB was founded in 1936 and is based in Stockholm, Sweden and additional office in London, United Kingdom. Kinnevik AB was formerly known as Investment AB Kinnevik.

Stock analysis

Kinnevik Investment AB ser. B (0RH1) currently trades at kr 62.36, while our model-based Fair Value estimate is kr 110.67, implying the stock looks roughly 43.7% undervalued today.

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Valuation

How firm this estimate is: it rests on 4 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: kr 83.00 (bear) to kr 138.33 (bull), the price of kr 62.36 sits below 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 42/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Kinnevik Investment AB ser. B reported revenue of 10.0M SEK in FY2025 versus 1.7B SEK in FY2021, a compound −72.3%/yr. Reported net income was −3.3B SEK in FY2025.

Key figures

Market cap 17.3B SEK (≈ $1.7B) · P/E ratio 0.0 · EPS (TTM) kr 14.96 · Return on equity −21.6% · Return on assets (EBIT) −7.9% · Operating margin 95.5% · Revenue (TTM) −8.1B SEK · Revenue growth (YoY) +164%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 31% below its 52-week high and 30% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at 77%, 0RH1 screens cheaper than that median.

Fair Value models

Bear kr 83.00 Fair Value kr 110.67 Bull kr 138.33
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 2025 figures (about 9 months old). Earnings retained since then (kr 11.31 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
P/B Multiple kr 83.12 kr 110.82 kr 138.53 55
NCAV (Graham) kr 65.19 kr 87.36 kr 130.38 51
All 2 models by family
Multiples
P/B Multiple kr 83.12 kr 110.82 kr 138.53 55
Asset-Based
NCAV (Graham) kr 65.19 kr 87.36 kr 130.38 51

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Quality Score breakdown

Overall quality 42/100

Of which business quality 39 · Market factors (momentum, volatility) 39

Profitability 0
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 83
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 is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−76.2%
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.
−85.9%
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.
−64.2%
Start year 2020 (pandemic). Over 10 years: −39.3% a year
Revenue growth 23 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.
−18.1%
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.
726.3% (2019) → −34,000.0% (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 sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Industrial Conglomerates” was too small, so the broader sector is used.)Industrials · 5266 stocks

Beats the sector median on 5/7 measures
Overall it ranks above its sector peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside +77.5% · Top 25%
Profitability
Return on assets −14.4% · Bottom 25%
Operating margin (TTM) 95.5% · Top 25%
Growth and dividend
Revenue growth 164.4% · Top 25%

Valuation Multiplesvs Industrials median · lower = cheaper

P/E (TTM) 0.0× · Cheapest 25%
P/B 0.05× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 17
FUTURE (revenue growth)100 · sector 35
PAST (return on equity)0 · sector 29
HEALTH (low debt)0 · sector 94
DIVIDEND (yield)0 · sector 37

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

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Kinnevik Investment AB ser. B · Fair Value
kr 110.67 +44%Fair Value
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Cite: Fair Value Calculator (2026). "Kinnevik Investment AB ser. B Fair Value". https://www.fairvalue-calculator.com/stock/0RH1

Frequently asked questions

Is Kinnevik Investment AB ser. B (0RH1) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 110.67 versus a price of kr 62.36, about +77% upside (undervalued).
What is the fair value of 0RH1?
Our model-based fair value for Kinnevik Investment AB ser. B is kr 110.67 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 62.36.
What is the quality score of 0RH1?
Kinnevik Investment AB ser. B has a Quality Score of 42/100. 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 Kinnevik Investment AB ser. B (0RH1)?
Our model-based price target is the fair value of kr 110.67 (as of Sep 24, 2026) from 2 valuation models. Cautious scenario kr 83.00, optimistic scenario kr 138.33. It is a calculation from audited fundamentals, not an analyst target.
What is the Kinnevik Investment AB ser. B stock forecast for 2026?
Our models put fair value at kr 110.67, about +77% upside versus a price of kr 62.36 (undervalued). Cautious scenario kr 83.00, optimistic scenario kr 138.33. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Kinnevik Investment AB ser. B (0RH1)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kinnevik Investment AB ser. B it is kr 110.67 per share (as of Sep 24, 2026), against a price of kr 62.36. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Kinnevik Investment AB ser. B stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0RH1 trades below its calculated fair value: price kr 62.36, fair value kr 110.67, a gap of about +77% (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 0RH1?
No. The price is what the market pays today (kr 62.36); the fair value is what the company's own numbers justify (kr 110.67). For Kinnevik Investment AB ser. B the two are kr 48.31 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kinnevik Investment AB ser. B worth?
The market values Kinnevik Investment AB ser. B at about 17.3B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 62.36; our models calculate a fair value of kr 110.67 per share.
What do the bullish and bearish scenarios say about 0RH1?
Our models span a range for Kinnevik Investment AB ser. B: cautious scenario kr 83.00, base kr 110.67, optimistic kr 138.33 per share (as of Sep 24, 2026, price kr 62.36). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0RH1?
Kinnevik Investment AB ser. B trades at a price-to-earnings ratio of 0.0 (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 110.67 is built from several models across several years. Other multiples: P/B 0.1.
How solid is the balance sheet of Kinnevik Investment AB ser. B (0RH1)?
Balance-sheet figures for Kinnevik Investment AB ser. B (as of Sep 24, 2026): return on equity −21.6%. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 0RH1 from its 52-week high?
Kinnevik Investment AB ser. B trades at kr 62.36, about 31% below its 52-week high of kr 90.29 and 30% above the low of kr 47.81 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 110.67 is for.
Which stocks are comparable to Kinnevik Investment AB ser. B?
From the same area (Industrials) we also value Princess Private Equity Holding, Contemporary Amperex Technology Co, Delta Electronics (Thailand) Public Company, Larsen & Toubro Limited, 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 Kinnevik Investment AB ser. B stock attractive at the current price?
The data as of Sep 24, 2026: price kr 62.36, calculated fair value kr 110.67 (+77%), Quality Score 42/100, from 2 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 0RH1 calculated?
We run Kinnevik Investment AB ser. B through 2 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 110.67, 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. Kinnevik Investment AB ser. B currently trades 44 % 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 Kinnevik Investment AB ser. B (0RH1)?
The closing price on Oct 2, 2026 was kr 62.36. Our model-based fair value is kr 110.67, about +77% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kinnevik Investment AB ser. B right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 83.00). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Kinnevik Investment AB ser. B

How large is the market capitalisation of Kinnevik Investment AB ser. B (0RH1)?
The market capitalisation of Kinnevik Investment AB ser. B is 17.3B SEK (≈ $1.7B). 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 Kinnevik Investment AB ser. B (0RH1)?
Earnings per share at Kinnevik Investment AB ser. B are kr 14.96 (price ÷ EPS = P/E 0.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Kinnevik Investment AB ser. B (0RH1)?
The return on equity (ROE) of Kinnevik Investment AB ser. B is −21.6% (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 Kinnevik Investment AB ser. B (0RH1)?
On an EBIT basis the return on assets of Kinnevik Investment AB ser. B is −7.9% (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 Kinnevik Investment AB ser. B (0RH1)?
The operating margin of Kinnevik Investment AB ser. B is 95.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much revenue does Kinnevik Investment AB ser. B (0RH1) generate?
Kinnevik Investment AB ser. B generates revenue of −8.1B SEK (last twelve months). Revenue of the last twelve months (TTM), the most recent full year, not the calendar year.
How fast is revenue growing at Kinnevik Investment AB ser. B (0RH1)?
Revenue at Kinnevik Investment AB ser. B is growing +164% versus a year earlier (3y avg −85.9%). 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 Kinnevik Investment AB ser. B (0RH1)?
Earnings per share at Kinnevik Investment AB ser. B are growing +174% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kinnevik Investment AB ser. B (0RH1) generate?
The free cash flow of Kinnevik Investment AB ser. B is −215M 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 Kinnevik Investment AB ser. B (0RH1) carry?
The net debt of Kinnevik Investment AB ser. B is 1.7B 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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