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Advenica AB (ADVE) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Advenica AB stock SEK 6.81, price SEK 18.10, that is 62.4% below the price, quality 67 out of 100. Rating: strongly overvalued. Calculated from audited financials with 17 of our 26 valuation models and 37 quality factors, updated daily.

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Technology SE · ISIN SE0006219473

AA Advenica AB logo Thin data Nov 9, 2026

Advenica AB

ADVE · ST
Solid, but very expensive

Our calculation puts a fair price 62% below what the stock costs today.

Quality 67/100
Low debt
Last quarter vs. a year ago: revenue +18%, profit +100%.
Expensive Growth (revenue 5y +19.2 %/yr in SEK)
Loss over the last twelve months · -5.3% net margin (TTM) · fiscal year 2025 8.2%
0.8% dividend yield · Token dividend
Fair value kr 6.81 · Strongly overvalued
Negative free cash flow
Trails peers (4/11)
Narrow moat 26/100 · thin data
Thin data
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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 28.71 kr 7.31 Fair Value kr 6.81 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

60‑month range kr 7.31 – kr 28.71 · fair‑value band kr 4.78 – kr 10.08 · the kr 18.10 price screens above the kr 6.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.

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Company profile

Advenica AB (publ) develops and sells security solutions for defense and authority, and business customers in Sweden, Finland, and internationally.

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The company offers data diodes, engine, services, and guards; ZoneGuard, a gateway for controlling two-way filtered information flow supporting third party control for enforcing digitally signed information policy; ZoneGuard Services; encryption systems; remote access devices, file security screeners; SecuriRAM, a self-erasing USB drive designed to transport a limited amount of information, file scanner kiosk; secure database replications; secure machine connections; and secure logging products and solutions.

It serves defense, government, infrastructure, and industry sectors. Advenica AB (publ) was incorporated in 1993 and is headquartered in Malmö, Sweden.

Stock analysis

Advenica AB (ADVE) currently trades at kr 18.10, while our model-based Fair Value estimate is kr 6.81, 62% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 10.80 per share, and 0 of the 17 models we run sit above the kr 18.10 price.

Bear case: the Dividend Discount group reads lowest at kr 1.04, and 17 of the 17 models stay below the price. Data coverage for this calculation is low.

Scenario range: kr 4.78 (bear) to kr 10.08 (bull), the price of kr 18.10 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 67/100 (solid quality), in the Technology sector.

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

Advenica AB reported revenue of 203M SEK in FY2025 versus 101M SEK in FY2021, a compound +19.0%/yr. Reported net income was 16.6M SEK in FY2025.

Key figures

Market cap 796M SEK (≈ $80.6M) Micro · P/S ratio 4.40 · EPS (TTM) kr −0.2900 · Dividend yield 0.8% · Net margin −5.3% · Return on equity −8.8% · Return on assets (EBIT) −1.1% (5-year average) · Operating margin 0.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 26 out of 100 (low confidence).

What moves the price

The share trades about 32% below its 52-week high and 33% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −62%, ADVE screens richer than that median.

Fair Value models

Bear kr 4.78 Fair Value kr 6.81 Bull kr 10.08
Price kr 18.10 · Downside -62.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. Coverage ⓘCoverage = 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.
Best data coverage
Owner Earnings kr 4.78 kr 6.81 kr 10.08 76
Residual Income kr 2.32 kr 2.71 kr 3.70 76
EPV kr 4.69 kr 4.99 kr 5.24 74
All 17 models by family
DCF Models
Owner Earnings kr 4.78 kr 6.81 kr 10.08 76
Earnings-Based
Graham-Dodd kr 2.56 kr 15.01 kr 20.89 63
Lynch FV kr 4.25 kr 6.07 kr 7.89 61
PEG = 1.0 kr 4.25 kr 6.07 kr 7.89 57
EPV kr 4.69 kr 4.99 kr 5.24 74
Dividend Discount
Gordon GGM kr 0.6400 kr 1.07 kr 1.40 68
DDM Multi-Stage kr 0.6400 kr 1.01 kr 1.16 67
Multiples
P/E Multiple kr 7.91 kr 10.55 kr 13.19 63
P/S Multiple kr 4.80 kr 6.40 kr 8.01 58
P/B Multiple kr 9.63 kr 12.84 kr 16.05 55
EV/EBIT kr 8.75 kr 11.04 kr 13.33 66
EV/EBITDA kr 10.02 kr 12.74 kr 15.46 67
EV/Revenue kr 5.35 kr 6.84 kr 8.32 54
Asset-Based
NCAV (Graham) kr 1.13 kr 1.72 kr 2.15 54
Economic Profit
Residual Income kr 2.32 kr 2.71 kr 3.70 76
ROIC Compounder kr 4.87 kr 5.41 kr 5.97 72
Growth Earnings
Growth-Adj P/E kr 7.22 kr 10.32 kr 13.41 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 67/100

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

Profitability 66
How much profit the company makes from its sales and capital
Quality Growth 83
Are margins and returns getting better?
Cashflow 7
Do the profits arrive as real cash?
Financial strength 95
Debt, balance sheet and risk of trouble
Investment 84
Does it invest with discipline instead of growing at any price?
Low Volatility 36
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 47
Distance to the 52-week high, does not count
New shares 82
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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+25.4%
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.
+19.7%
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.
+19.2%
Start year 2020 (pandemic). Over 10 years: +14.3% a year
Revenue growth 14 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.
+7.8%
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.
−22.0% (2020) → 8.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

ADVE screens overvalued: fair value 62% below the price. Compare with Microsoft Corporation →

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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.Software - Infrastructure · 346 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 67 · Top 25%
Fair Value upside −62.4% · Bottom 25%
Profitability
Return on assets 8.3% · Top 25%
Net margin (12 months) −5.3% · Below median
Operating margin (12 months) 0.4% · Below median
Growth and dividend
Revenue growth (quarter YoY) 18.1% · Above median
Dividend yield (12 months) 0.8% · Below median

Valuation Multiplesvs Software - Infrastructure median · lower = cheaper

P/B 6.96× · Priciest 25%
P/S (12 months) 4.51× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 25
FUTURE (revenue growth)91 · sector 60
PAST (return on equity)0 · sector 23
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)15 · sector 31

VALUE 0: the price sits above our fair-value range.

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 Software - Infrastructure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Microsoft Corporation MSFT $530.61 $583.67 +10% vs ADVE
Fortinet, Inc FTNT $118.84 $130.72 +10% vs ADVE
Oracle Corporation ORCL $116.10 $111.97 −4% vs ADVE
NetApp, Inc NTAP $169.19 $156.80 −7% vs ADVE
Block, Inc XYZ $85.48 $76.43 −11% vs ADVE
Synopsys, Inc SNPS $450.46 $288.23 −36% vs ADVE
Zscaler, Inc ZS $197.66 $101.45 −49% vs ADVE
Palantir Technologies Inc PLTR $160.38 $42.20 −74% vs ADVE
CrowdStrike Holdings CRWD $216.90 $37.97 −82% vs ADVE
Palo Alto Networks, Inc PANW $313.84 $39.54 −87% vs ADVE

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Advenica AB: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Advenica AB Fair Value". https://www.fairvalue-calculator.com/stock/ADVE

Frequently asked questions

Is Advenica AB (ADVE) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of kr 6.81 versus a price of kr 18.10, about 62% lower (overvalued).
What is the fair value of ADVE?
Our model-based fair value for Advenica AB is kr 6.81 (as of Nov 9, 2026), built from audited fundamentals. The current price: kr 18.10.
What is the quality score of ADVE?
Advenica AB has a Quality Score of 67/100. 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 Advenica AB (ADVE)?
Our model-based price target is the fair value of kr 6.81 (as of Nov 9, 2026) from 17 valuation models. Cautious scenario kr 4.78, optimistic scenario kr 10.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Advenica AB stock forecast for 2026?
Our models put fair value at kr 6.81, about 62% lower versus a price of kr 18.10 (overvalued). Cautious scenario kr 4.78, optimistic scenario kr 10.08. The calculation is refreshed regularly with new filings.
What is the revenue of Advenica AB (ADVE)?
Advenica AB reported trailing-twelve-month revenue of about 177M SEK (latest available figure, as of Nov 9, 2026).
Does Advenica AB pay a dividend?
Advenica AB currently shows a dividend yield of 0.77% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Advenica AB (ADVE) and when is the ex-dividend date?
Advenica AB pays a dividend of kr 0.14 per share a year, a dividend yield of 0.8%. The last ex-dividend date was Apr 29, 2026. The payout ratio is 37.2% of earnings. Our assessment: Token dividend. At a yield of 0.8% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.8% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of Advenica AB (ADVE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Advenica AB it is kr 6.81 per share (as of Nov 9, 2026), against a price of kr 18.10. It is the blended result of 17 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Advenica AB stock overvalued or undervalued in 2026?
As of Nov 9, 2026, ADVE trades above its calculated fair value: price kr 18.10, fair value kr 6.81, a gap of about −62% (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 ADVE?
No. The price is what the market pays today (kr 18.10); the fair value is what the company's own numbers justify (kr 6.81). For Advenica AB the two are kr 11.29 per share apart. That gap is exactly why we show both numbers side by side.
How much is Advenica AB worth?
The market values Advenica AB at about 796M SEK (market capitalisation, as of Nov 9, 2026). Per share that is kr 18.10; our models calculate a fair value of kr 6.81 per share.
What do the bullish and bearish scenarios say about ADVE?
Our models span a range for Advenica AB: cautious scenario kr 4.78, base kr 6.81, optimistic kr 10.08 per share (as of Nov 9, 2026, price kr 18.10). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Advenica AB (ADVE)?
Balance-sheet figures for Advenica AB (as of Nov 9, 2026): return on equity −8.8%. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is ADVE from its 52-week high?
Advenica AB trades at kr 18.10, about 32% below its 52-week high of kr 26.50 and 33% above the low of kr 13.65 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 6.81 is for.
Which stocks are comparable to Advenica AB?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, 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 Advenica AB stock attractive at the current price?
The data as of Nov 9, 2026: price kr 18.10, calculated fair value kr 6.81 (−62%), Quality Score 67/100, from 17 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 ADVE calculated?
We run Advenica AB through 17 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 6.81 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Advenica 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 Advenica AB (ADVE)?
The closing price on Nov 6, 2026 was kr 18.10. Our model-based fair value is kr 6.81, about 62% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Advenica AB right now?
The price sits above even our optimistic bull case (kr 10.08). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 4.78 to kr 10.08) leaves room in how you read the outcome.

Key figures of Advenica AB

How large is the market capitalisation of Advenica AB (ADVE)?
The market capitalisation of Advenica AB is 796M SEK (≈ $80.6M). 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 Advenica AB (ADVE)?
The price-to-sales ratio of Advenica AB is 4.40 (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 Advenica AB (ADVE)?
Earnings per share at Advenica AB are kr −0.2900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Advenica AB (ADVE)?
The dividend yield of Advenica AB is 0.8%. 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 Advenica AB (ADVE)?
The net margin of Advenica AB is −5.3% (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 Advenica AB (ADVE)?
The return on equity (ROE) of Advenica AB is −8.8% (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 Advenica AB (ADVE)?
On an EBIT basis the return on assets of Advenica AB is −1.1% (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 Advenica AB (ADVE)?
The operating margin of Advenica AB is 0.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Advenica AB (ADVE)?
Revenue at Advenica AB is growing +18.1% versus a year earlier (3y avg +19.7%). 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 Advenica AB (ADVE)?
Earnings per share at Advenica AB are growing +100% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Advenica AB (ADVE) generate?
The free cash flow of Advenica AB is −2.8M 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 cash does Advenica AB (ADVE) hold?
Advenica AB holds more cash than debt, 82.2M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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