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Athanase Innovation AB (ATIN) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Athanase Innovation AB stock SEK 15.16, price SEK 15.00, upside +1.1%, quality 42 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Financial Services SE · ISIN SE0018014060

AI Athanase Innovation AB logo Thin data Nov 10, 2026

Athanase Innovation AB

ATIN · ST
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Fair value kr 15.16 · Fairly valued
Quality 42/100
Mixed Growth (revenue 3y +79.4 %/yr in SEK)
Moderate debt
Loss-making · -72.5% net margin (TTM)
Negative free cash flow
Trails peers (1/10)
Narrow moat 12/100 · thin data
Thin data
Estimate⚠ Thinly traded
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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 167.67 kr 10.80 Fair Value kr 15.16 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range kr 10.80 – kr 167.67 · fair‑value band kr 11.37 – kr 18.95 · the kr 15.00 price screens below the kr 15.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Athanase Innovation AB is public investment firm. The company invests in private and public technology and innovation companies. It also develops and sells machine inspection unit, used for automatic quality control, inspection and measurement of pallets.

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Athanase Innovation AB was founded in 2016 and is based in Stockholm, Sweden.

Stock analysis

Athanase Innovation AB (ATIN) currently trades at kr 15.00, while our estimate is kr 15.16, so the stock looks roughly fairly valued today (gap 1.1%).

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: kr 11.37 (bear) to kr 18.95 (bull), the price of kr 15.00 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 42/100 (below-average quality), in the Financial Services sector.

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

Athanase Innovation AB reported revenue of 36.9M SEK in FY2026 versus 7.1M SEK in FY2022, a compound +51.2%/yr. Reported net income was −57.6M SEK in FY2026.

Key figures

Market cap 282M SEK (≈ $28.5M) Micro · P/S ratio 5.54 · EPS (TTM) kr −2.32 · Net margin −72.5% · Return on equity −10.7% · Return on assets (EBIT) −9.3% (5-year average) · Operating margin −134% · Revenue (TTM) 61.0M SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −19% fair-value upside, at 1%, ATIN screens cheaper than that median.

Fair Value

Bear kr 11.37 Fair Value kr 15.16 Bull kr 18.95
Price kr 15.00 · Upside +1.1%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 42/100

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

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 0
Are margins and returns getting better?
Cashflow 14
Do the profits arrive as real cash?
Financial strength 88
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 35
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 20
Distance to the 52-week high, does not count
New shares 100
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. 24/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−79.2%
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.
+79.4%
Revenue growth 8 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.
−1.4%
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.
51.8% (2020) → −220.9% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 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 industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 658 stocks

Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside +1.1% · Below median
Profitability
Return on assets −12.0% · Bottom 25%
Net margin (12 months) −72.5% · Bottom 25%
Operating margin (12 months) −133.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −4.3% · Below median
Balance sheet
Debt / equity 0.92× · Highest 25%

Valuation Multiplesvs Asset Management median · lower = cheaper

P/B 0.66× · Cheaper than median
P/S (12 months) 4.62× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)35 · sector 37
FUTURE (revenue growth)0 · sector 36
PAST (return on equity)0 · sector 23
HEALTH (low debt)54 · sector 95
DIVIDEND (yield)0 · sector 78

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 Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Raymond James Financial, Inc RJF $168.11 $281.42 +67% vs ATIN
Apollo Global Management, Inc APO $122.74 $197.52 +61% vs ATIN
Ameriprise Financial, Inc AMP $519.96 $609.56 +17% vs ATIN
Exor N.V EXO €74.30 €76.42 +3% vs ATIN
State Street Corporation STT $171.62 $139.37 −19% vs ATIN
Ares Management Corporation ARES $139.41 $99.35 −29% vs ATIN
Northern Trust Corporation NTRS $177.89 $123.42 −31% vs ATIN
Brookfield Asset Management Ltd BAM $53.49 $31.26 −42% vs ATIN
Blackstone Inc BX $122.53 $52.29 −57% vs ATIN
KKR & Co KKR $100.85 $27.63 −73% vs ATIN

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Athanase Innovation AB: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Athanase Innovation AB Fair Value". https://www.fairvalue-calculator.com/stock/ATIN

Frequently asked questions

Is Athanase Innovation AB (ATIN) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is kr 15.16 versus a price of kr 15.00, about +1% upside (fairly valued).
What is the fair value of ATIN?
Our estimate for Athanase Innovation AB is kr 15.16 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 15.00.
What is the quality score of ATIN?
Athanase Innovation AB 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 Athanase Innovation AB (ATIN)?
Our calculated price target is the estimate of kr 15.16 (as of Nov 10, 2026). Cautious scenario kr 11.37, optimistic scenario kr 18.95. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Athanase Innovation AB stock forecast for 2026?
Our estimate puts fair value at kr 15.16, about +1% upside versus a price of kr 15.00 (fairly valued). Cautious scenario kr 11.37, optimistic scenario kr 18.95. The calculation is refreshed regularly with new filings.
What is the revenue of Athanase Innovation AB (ATIN)?
Athanase Innovation AB reported trailing-twelve-month revenue of about 61.0M SEK (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Athanase Innovation AB (ATIN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Athanase Innovation AB it is kr 15.16 per share (as of Nov 10, 2026), against a price of kr 15.00.
Is Athanase Innovation AB stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ATIN trades below its calculated fair value: price kr 15.00, fair value kr 15.16, a gap of about +1% (fairly valued). 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 ATIN?
No. The price is what the market pays today (kr 15.00); the fair value is what the company's own numbers justify (kr 15.16). For Athanase Innovation AB the two are kr 0.1600 per share apart. That gap is exactly why we show both numbers side by side.
How much is Athanase Innovation AB worth?
The market values Athanase Innovation AB at about 282M SEK (market capitalisation, as of Nov 10, 2026). Per share that is kr 15.00; our models calculate a fair value of kr 15.16 per share.
What do the bullish and bearish scenarios say about ATIN?
Our models span a range for Athanase Innovation AB: cautious scenario kr 11.37, base kr 15.16, optimistic kr 18.95 per share (as of Nov 10, 2026, price kr 15.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Athanase Innovation AB (ATIN)?
Balance-sheet figures for Athanase Innovation AB (as of Nov 10, 2026): return on equity −10.7%, debt of 0.92 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is ATIN from its 52-week high?
Athanase Innovation AB trades at kr 15.00, about 28% below its 52-week high of kr 20.80 and 25% above the low of kr 12.00 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of kr 15.16 is for.
Which stocks are comparable to Athanase Innovation AB?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Asset Management Ltd, Apollo Global Management, 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 Athanase Innovation AB stock attractive at the current price?
The data as of Nov 10, 2026: price kr 15.00, calculated fair value kr 15.16 (+1%), Quality Score 42/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Athanase Innovation AB currently trades 1% 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 Athanase Innovation AB (ATIN)?
The closing price on Nov 10, 2026 was kr 15.00. Our estimate is kr 15.16, about +1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Athanase Innovation AB right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Athanase Innovation AB

How large is the market capitalisation of Athanase Innovation AB (ATIN)?
The market capitalisation of Athanase Innovation AB is 282M SEK (≈ $28.5M). 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 Athanase Innovation AB (ATIN)?
The price-to-sales ratio of Athanase Innovation AB is 5.54 (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 Athanase Innovation AB (ATIN)?
Earnings per share at Athanase Innovation AB are kr −2.32. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Athanase Innovation AB (ATIN)?
The net margin of Athanase Innovation AB is −72.5% (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 Athanase Innovation AB (ATIN)?
The return on equity (ROE) of Athanase Innovation AB is −10.7% (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 Athanase Innovation AB (ATIN)?
On an EBIT basis the return on assets of Athanase Innovation AB is −9.3% (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 Athanase Innovation AB (ATIN)?
The operating margin of Athanase Innovation AB is −134% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Athanase Innovation AB (ATIN)?
Revenue at Athanase Innovation AB is growing −4.3% versus a year earlier (3y avg +79.4%). 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 Athanase Innovation AB (ATIN)?
Earnings per share at Athanase Innovation AB are growing −9.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Athanase Innovation AB (ATIN) generate?
The free cash flow of Athanase Innovation AB is −67.5M SEK (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Athanase Innovation AB (ATIN) hold?
Athanase Innovation AB holds more cash than debt, 245M SEK net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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