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Acroud AB (ACROUD) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Acroud AB SEK 0.26, price SEK 0.13, upside +110.8%, quality 33 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

Consumer Cyclical · SE · ISIN SE0001863291

AA Thin data Sep 24, 2026

Acroud AB

ACROUD · ST

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

✓Fair value kr 0.2635 · Strongly undervalued (+111%)
!Quality 33/100
!Expensive Growth (revenue 5y +32.4 %/yr)
!Loss-making · -4.7% net margin (TTM)
!Moderate debt · negative free cash flow
!Mixed vs. peers (5/12)
!Narrow moat 18/100
!Insider activity 40/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 8 out of 100
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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 3.02 kr 0.1000 Fair Value kr 0.2635 Jun 2021 Sep 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 0.1000 – kr 3.02 · fair‑value band kr 0.1785 – kr 0.3485 · the kr 0.1250 price screens below the kr 0.2635 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

Acroud AB (publ) engages in the development and operation of Software as a Service (SaaS) solutions in Sweden. It operates through two segments, iGaming Affiliation Business and Business-to-Business (B2B) SaaS Solutions.

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Acroud AB (publ) engages in the development and operation of Software as a Service (SaaS) solutions in Sweden. It operates through two segments, iGaming Affiliation Business and Business-to-Business (B2B) SaaS Solutions. The iGaming Affiliation Business segment generates leads for online casino, poker, and sports betting operators; creates content that attracts, informs, and engages visitors through search engine optimization; and operates specialist media websites. The B2B SaaS Solutions segment business provides solution enabling clients to analyze and monetize the traffic sources, also providing media creators, website affiliates, bloggers, youtubers access to gaming campaigns that would reach, unique software and a single payment/ contact for all affiliation activities; and offers Voonix, a software solution, that provides tools for A/B testing, campaign valuation, traffic analysis, and financial management, streamlining operations for clients to monitor all affiliate activities from one interface; and AffHut network solution, which provides a platform for setting up and managing iGaming campaigns, that offers control over client accounts, invoicing, campaign materials, and others. The company was formerly known as Net Gaming Europe AB (publ) and changed its name to Acroud AB (publ) in July 2020. Acroud AB (publ) was founded in 2003 and is based in Birkirkara, Malta.

Stock analysis

Acroud AB (ACROUD) currently trades at kr 0.1250, while our model-based Fair Value estimate is kr 0.2635, implying the stock looks roughly 52.6% 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 0.1785 (bear) to kr 0.3485 (bull), the price of kr 0.1250 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 33/100 (below-average quality), in the Consumer Cyclical sector.

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

Acroud AB reported revenue of €47.2M in FY2025 versus €24.8M in FY2021, a compound +17.5%/yr. Reported net income was −€5.2M in FY2025.

Key figures

Market cap 175M SEK (≈ $17.7M) · P/S ratio 3.64 · EPS (TTM) kr −0.0300 · Dividend yield 0.4% · Net margin −11.1% · Return on equity −12.9% · Return on assets (EBIT) −9.0% · Operating margin 2.4%.

Competitive moat

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

What moves the price

The share trades about 23% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 24% fair-value upside, at 111%, ACROUD screens cheaper than that median.

Fair Value models

Bear kr 0.1785 Fair Value kr 0.2635 Bull kr 0.3485
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. 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
EV/EBITDA kr 0.0200 kr 0.0300 kr 0.0400 66
NCAV (Graham) kr 0.0100 kr 0.0100 kr 0.0100 55
All 2 models by family
Multiples
EV/EBITDA kr 0.0200 kr 0.0300 kr 0.0400 66
Asset-Based
NCAV (Graham) kr 0.0100 kr 0.0100 kr 0.0100 55

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Quality Score breakdown

Overall quality 33/100

Of which business quality 35 · Market factors (momentum, volatility) 23

Profitability 20
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 32
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 0
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. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+22.4%
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.
+15.2%
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.
+32.4%
Start year 2020 (pandemic). Over 10 years: +45.1% a year
Revenue growth 16 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.
+31.5%
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.
29.7% (2020) → −0.9% (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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Compare Acroud 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.Gambling · 57 stocks

Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside +111% · Top 25%
Profitability
Return on assets 1% · Below median
Net margin (TTM) −5% · Below median
Operating margin (TTM) 2% · Below median
Growth and dividend
Revenue growth 18% · Top 25%
Dividend yield (TTM) 0.4% · Bottom 25%
Balance sheet
Debt / equity 0.66× · Above median

Valuation Multiplesvs Gambling median · lower = cheaper

P/B 1.04× · 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 (TTM) 0.37× · Cheapest 25%
EV/EBITDA 5.5× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 53
FUTURE (revenue growth)89 · sector 10
PAST (return on equity)0 · sector 34
HEALTH (low debt)67 · sector 86
DIVIDEND (yield)8 · sector 67

Context: sector, industry, market

Values & ESG

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

Gambling

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Rush Street Interactive, Inc RSI $21.22 $13.10 −38%
Super Group SGHC $12.35 $13.59 +10%
Light & Wonder, Inc LNWO $78.62 $97.27 +24%
Lottomatica Group LTMC €27.83 €30.61 +10%
Churchill Downs Incorporated CHDN $79.49 $105.45 +33%
FDJ United FDJ €22.34 €24.57 +10%
Brightstar Lottery PLC BRSL $10.42 $17.61 +69%

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kr 0.2635 +53%Fair Value
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Cite: Fair Value Calculator (2026). "Acroud AB Fair Value". https://www.fairvalue-calculator.com/stock/ACROUD

Frequently asked questions

Is Acroud AB (ACROUD) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 0.2635 versus a price of kr 0.1250, about +111% upside (undervalued).
What is the fair value of ACROUD?
Our model-based fair value for Acroud AB is kr 0.2635 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 0.1250.
What is the quality score of ACROUD?
Acroud AB has a Quality Score of 33/100. 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 Acroud AB (ACROUD)?
Our model-based price target is the fair value of kr 0.2635 (as of Sep 24, 2026) from 2 valuation models. Cautious scenario kr 0.1785, optimistic scenario kr 0.3485. It is a calculation from audited fundamentals, not an analyst target.
What is the Acroud AB stock forecast for 2026?
Our models put fair value at kr 0.2635, about +111% upside versus a price of kr 0.1250 (undervalued). Cautious scenario kr 0.1785, optimistic scenario kr 0.3485. The calculation is refreshed regularly with new filings.
What is the revenue of Acroud AB (ACROUD)?
Acroud AB reported trailing-twelve-month revenue of about €48.1M (latest available figure, as of Sep 24, 2026).
Does Acroud AB pay a dividend?
Acroud AB currently shows a dividend yield of about 0.40% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Acroud AB (ACROUD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Acroud AB it is kr 0.2635 per share (as of Sep 24, 2026), against a price of kr 0.1250. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Acroud AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ACROUD trades below its calculated fair value: price kr 0.1250, fair value kr 0.2635, a gap of about +111% (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 ACROUD?
No. The price is what the market pays today (kr 0.1250); the fair value is what the company's own numbers justify (kr 0.2635). For Acroud AB the two are kr 0.1385 per share apart. That gap is exactly why we show both numbers side by side.
How much is Acroud AB worth?
The market values Acroud AB at about 175M SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 0.1250; our models calculate a fair value of kr 0.2635 per share.
What do the bullish and bearish scenarios say about ACROUD?
Our models span a range for Acroud AB: cautious scenario kr 0.1785, base kr 0.2635, optimistic kr 0.3485 per share (as of Sep 24, 2026, price kr 0.1250). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Acroud AB (ACROUD)?
Balance-sheet figures for Acroud AB (as of Sep 24, 2026): return on equity −12.9%, debt of 0.66 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is ACROUD from its 52-week high?
Acroud AB trades at kr 0.1250, about 23% below its 52-week high of kr 0.1630 and at the low of kr 0.1250 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.2635 is for.
Which stocks are comparable to Acroud AB?
From the same area (Consumer Cyclical) we also value Flutter Entertainment plc, Evolution AB, The Lottery Corporation, Rush Street Interactive, 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 Acroud AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 0.1250, calculated fair value kr 0.2635 (+111%), Quality Score 33/100, 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 ACROUD calculated?
We run Acroud AB 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 0.2635, 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 13.0 % above its aggregate fair value. Acroud AB currently trades 111 % 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 Acroud AB (ACROUD)?
The closing price on Sep 23, 2026 was kr 0.1250. Our model-based fair value is kr 0.2635, about +111% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Acroud AB right now?
The large discount to fair value meets weak quality (33/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 0.1785). 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. A fairly wide model range (kr 0.1785 to kr 0.3485) leaves room in how you read the outcome.

Key figures of Acroud AB

How large is the market capitalisation of Acroud AB (ACROUD)?
The market capitalisation of Acroud AB is 175M SEK (≈ $17.7M). 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 Acroud AB (ACROUD)?
The price-to-sales ratio of Acroud AB is 3.64 (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 Acroud AB (ACROUD)?
Earnings per share at Acroud AB are kr −0.0300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Acroud AB (ACROUD)?
The dividend yield of Acroud AB is 0.4%. 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 Acroud AB (ACROUD)?
The net margin of Acroud AB is −11.1% (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 Acroud AB (ACROUD)?
The return on equity (ROE) of Acroud AB is −12.9% (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 Acroud AB (ACROUD)?
On an EBIT basis the return on assets of Acroud AB is −9.0% (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 Acroud AB (ACROUD)?
The operating margin of Acroud AB is 2.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Acroud AB (ACROUD)?
Revenue at Acroud AB is growing +17.8% versus a year earlier (3y avg +15.2%). 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 Acroud AB (ACROUD)?
Earnings per share at Acroud AB are growing +50.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Acroud AB (ACROUD) generate?
The free cash flow of Acroud AB is −€389K (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 Acroud AB (ACROUD) carry?
The net debt of Acroud AB is €10.8M (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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