Apotea AB (publ) (APOTEA) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Apotea AB (publ) SEK 46.46, price SEK 81.90, upside -43.3%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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
22‑month range kr 55.15 – kr 120.20 · fair‑value band kr 18.50 – kr 92.07 · the kr 81.90 price screens above the kr 46.46 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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Apotea AB (publ) operates an online pharmacy in Sweden. The company offers products in the areas of allergy, face, child and parent, bite and sting, preparedness, animal, fever and aches, cold, home and household, aid, hair removal and shaving, hair care, hands and feet, intimate, and dietary supplements.
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Apotea AB (publ) operates an online pharmacy in Sweden. The company offers products in the areas of allergy, face, child and parent, bite and sting, preparedness, animal, fever and aches, cold, home and household, aid, hair removal and shaving, hair care, hands and feet, intimate, and dietary supplements. It also provides products in the categories of body care, stomach and intestine, food and drink, mouth and teeth, premium, trip, sex and lust, stop smoking, makeup, sun protection, wounds and injuries, sleep and sleep problems, training, weight control, vitamins and minerals, charity, and eyes and ears. In addition, the company offers services comprising leasing, leasing of personnel to related companies. and market contributions. The company was founded in 2011 and is headquartered in Stockholm, Sweden.
Stock analysis
Apotea AB (publ) (APOTEA) currently trades at kr 81.90, while our model-based Fair Value estimate is kr 46.46, implying the stock looks roughly 76.3% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 102.10 per share, and 2 of the 24 models we run sit above the kr 81.90 price.
Bear case: the Asset-Based group reads lowest at kr 5.43, and 22 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 18.50 (bear) to kr 92.07 (bull), the price of kr 81.90 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 52/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Apotea AB (publ) reported revenue of 7.2B SEK in FY2025 versus 505M SEK in FY2021, a compound +94.4%/yr. Reported net income was 229M SEK in FY2025, compounding +110.9%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 8.5B SEK (≈ $862M) · P/E ratio 36.1 · P/S ratio 1.15 · EPS (TTM) kr 2.27 · Dividend yield 0.7% · Net margin 3.2% · Return on equity 28.3% · Return on assets (EBIT) 66.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 49% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −43%, APOTEA screens richer than that median.
Fair Value models
Bear kr 18.50Fair Value kr 46.46Bull kr 92.07
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 1.22 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.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.
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.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+10.1%
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.
+13.8%
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
≈ +81.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+80.9%
Dividend (yield on the price)0.7%
Profit margin 2021 to 2025 ⓘ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.3% → 4%
⚠ Approximate: the rate leans on 2025, which sits 163% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+38.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +35.7% a year for the price.
Price, fair value, quality and upside side by side.
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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.Pharmaceutical Retailers · 61 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−43% · Bottom 25%
Profitability
Return on equity (TTM)28% · Top 25%
Return on assets9% · Top 25%
Net margin (TTM)3% · Above median
Operating margin (TTM)5% · Top 25%
Growth and dividend
Revenue growth11% · Above median
Dividend yield (TTM)0.7% · Bottom 25%
Valuation Multiplesvs Pharmaceutical Retailers median · lower = cheaper
P/E (TTM)36.1× · Priciest 25%
P/B10.10× · Priciest 25%
P/S (TTM)1.15× · Priciest 25%
P/FCF7.3× · Priciest 25%
EV/EBITDA20.6× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 33
FUTURE (revenue growth)53· sector 19
PAST (return on equity)100· sector 22
HEALTH (low debt)0· sector 96
DIVIDEND (yield)15· sector 64
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Apotea AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/APOTEA
Frequently asked questions
Is Apotea AB (publ) (APOTEA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 46.46 versus a price of kr 81.90, about −43% upside (overvalued).
What is the fair value of APOTEA?
Our model-based fair value for Apotea AB (publ) is kr 46.46 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 81.90.
What is the quality score of APOTEA?
Apotea AB (publ) has a Quality Score of 52/100. 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 Apotea AB (publ) (APOTEA)?
Our model-based price target is the fair value of kr 46.46 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario kr 18.50, optimistic scenario kr 92.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Apotea AB (publ) stock forecast for 2026?
Our models put fair value at kr 46.46, about −43% upside versus a price of kr 81.90 (overvalued). Cautious scenario kr 18.50, optimistic scenario kr 92.07. The calculation is refreshed regularly with new filings.
What is the revenue of Apotea AB (publ) (APOTEA)?
Apotea AB (publ) reported trailing-twelve-month revenue of about 7.4B SEK (latest available figure, as of Sep 24, 2026).
Does Apotea AB (publ) pay a dividend?
Apotea AB (publ) currently shows a dividend yield of about 0.73% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Apotea AB (publ) (APOTEA)?
For today's price to be fair in a discounted-cash-flow model, Apotea AB (publ) would have to grow free cash flow by +38.4 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +94.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of APOTEA use?
Our models discount Apotea AB (publ) at 11.0 %: a base by market capitalisation (small), country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Apotea AB (publ) that is +38.4 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Apotea AB (publ) (APOTEA) delivered so far?
Over the past 4 years revenue at Apotea AB (publ) grew +94.4 % a year. The price currently implies +38.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Apotea AB (publ) (APOTEA) growing?
The median revenue growth in the sector is +0.0 % a year. That is the yardstick for the growth priced into Apotea AB (publ) (+38.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Apotea AB (publ) (APOTEA)?
The free-cash-flow yield on the price is 1.38 %: that much free cash flow Apotea AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Apotea AB (publ) (APOTEA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Apotea AB (publ) it is kr 46.46 per share (as of Sep 24, 2026), against a price of kr 81.90. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Apotea AB (publ) stock overvalued or undervalued in 2026?
As of Sep 24, 2026, APOTEA trades above its calculated fair value: price kr 81.90, fair value kr 46.46, a gap of about −43% (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 APOTEA?
No. The price is what the market pays today (kr 81.90); the fair value is what the company's own numbers justify (kr 46.46). For Apotea AB (publ) the two are kr 35.44 per share apart. That gap is exactly why we show both numbers side by side.
How much is Apotea AB (publ) worth?
The market values Apotea AB (publ) at about 8.5B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 81.90; our models calculate a fair value of kr 46.46 per share.
What do the bullish and bearish scenarios say about APOTEA?
Our models span a range for Apotea AB (publ): cautious scenario kr 18.50, base kr 46.46, optimistic kr 92.07 per share (as of Sep 24, 2026, price kr 81.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of APOTEA?
Apotea AB (publ) trades at a price-to-earnings ratio of 36.1 (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 46.46 is built from several models across several years. Other multiples: P/B 10.1, P/S 1.2, EV/EBITDA 20.6.
How solid is the balance sheet of Apotea AB (publ) (APOTEA)?
Balance-sheet figures for Apotea AB (publ) (as of Sep 24, 2026): return on equity 28.3%. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is APOTEA from its 52-week high?
Apotea AB (publ) trades at kr 81.90, about 13% below its 52-week high of kr 93.84 and 49% above the low of kr 55.15 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 46.46 is for.
Which stocks are comparable to Apotea AB (publ)?
From the same area (Healthcare) we also value Alibaba Health Information Technology Limited, Yifeng Pharmacy Chain Co, DaShenLin Pharmaceutical Group, LBX Pharmacy Chain Joint Stock Company, 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 Apotea AB (publ) stock attractive at the current price?
The data as of Sep 24, 2026: price kr 81.90, calculated fair value kr 46.46 (−43%), Quality Score 52/100, from 24 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 APOTEA calculated?
We run Apotea AB (publ) through 24 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 46.46, 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 14.1 % above its aggregate fair value. Apotea AB (publ) 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 Apotea AB (publ) (APOTEA)?
The closing price on Sep 23, 2026 was kr 81.90. Our model-based fair value is kr 46.46, about −43% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Apotea AB (publ) right now?
The model range is unusually wide (kr 18.50 to kr 92.07). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Apotea AB (publ)
How large is the market capitalisation of Apotea AB (publ) (APOTEA)?
The market capitalisation of Apotea AB (publ) is 8.5B SEK (≈ $862M). 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 Apotea AB (publ) (APOTEA)?
The price-to-sales ratio of Apotea AB (publ) is 1.15 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Apotea AB (publ) (APOTEA)?
Earnings per share at Apotea AB (publ) are kr 2.27 (price ÷ EPS = P/E 36.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Apotea AB (publ) (APOTEA)?
The dividend yield of Apotea AB (publ) is 0.7% (payout 26.4%). 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 Apotea AB (publ) (APOTEA)?
The net margin of Apotea AB (publ) is 3.2% (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 Apotea AB (publ) (APOTEA)?
The return on equity (ROE) of Apotea AB (publ) is 28.3% (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 Apotea AB (publ) (APOTEA)?
On an EBIT basis the return on assets of Apotea AB (publ) is 66.6% (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 Apotea AB (publ) (APOTEA)?
The operating margin of Apotea AB (publ) is 5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Apotea AB (publ) (APOTEA)?
Revenue at Apotea AB (publ) is growing +10.5% versus a year earlier (3y avg +13.8%). 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 Apotea AB (publ) (APOTEA)?
Earnings per share at Apotea AB (publ) are growing +10.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Apotea AB (publ) (APOTEA) carry?
The net debt of Apotea AB (publ) is 328M SEK (fiscal year 2025, ≈ 2.8 yrs of FCF). 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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