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ArcticZymes Technologies ASA (AZT) Fair Value & Analysis

Healthcare · NO · Market cap 963M NOK

AT ArcticZymes Technologies ASA AZT · OL
Pricekr 19.50
Fair Valuekr 4.26
Upside-78.2%
Quality66/100
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Healthy Growth
Solidly profitable · 10.5% net margin
generates free cash flow
Mixed vs. peers (6/12)
Narrow moat 33/100
Evidence: High Range kr 3.19 – kr 4.72 Share as image

Fair value as of: Jul 20, 2026

From 24 valuation models · updated 21 days ago

Share price +2.1% over the past month.

A solid business, but screening 78% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 4.72). The favourable scenario is already priced in.
  • Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 107.40 kr 12.74 Fair Value kr 4.26 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range kr 12.74 – kr 107.40 · fair‑value band kr 3.19 – kr 4.72 · the kr 19.50 price screens above the kr 4.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

ArcticZymes Technologies ASA (AZT) currently trades at kr 19.50, while our model-based Fair Value estimate is kr 4.26, implying the stock looks roughly 78.2% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, ArcticZymes Technologies ASA generated revenue of 128M NOK at a net margin of 10.5%. Revenue grew 40.9% year over year. It earns a return on equity of 4.1%. The balance sheet holds a net cash position of 181M NOK. Fundamentals as of Jul 20, 2026

Our scenario range runs from kr 3.19 (bear case) to kr 4.72 (bull case); at kr 19.50, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 38% below its 52-week high and 30% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -78%, AZT screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
Growth DCF kr 7.92 kr 9.96 kr 12.70 72
Growth-Adj P/E kr 2.21 kr 3.15 kr 4.10 68
Rev-Margin DCF kr 5.63 kr 6.20 kr 6.93 67
All 24 models by family
DCF Models
FCF DCF kr 7.92 kr 10.12 kr 13.19 38
Owner Earnings kr 6.62 kr 8.15 kr 10.28 31
5Y Revenue Exit kr 5.63 kr 6.13 kr 6.68 39
5Y EBITDA Exit kr 6.67 kr 8.15 kr 9.86 41
5Y P/E Exit kr 7.07 kr 8.92 kr 10.89 38
10Y Revenue Exit kr 6.50 kr 7.19 kr 8.01 36
10Y EBITDA Exit kr 7.13 kr 8.50 kr 10.29 37
10Y P/E Exit kr 7.37 kr 8.99 kr 11.03 35
Earnings-Based
Graham-Dodd kr 1.32 kr 4.78 kr 6.45 54
Lynch FV kr 1.13 kr 1.62 kr 2.11 50
PEG = 1.0 kr 1.13 kr 1.62 kr 2.11 46
EPV kr 3.90 kr 3.93 kr 3.95 59
Multiples
P/E Multiple kr 3.19 kr 4.26 kr 5.32 63
P/S Multiple kr 2.47 kr 3.29 kr 4.11 58
P/B Multiple kr 2.47 kr 3.29 kr 4.11 55
EV/EBIT kr 4.38 kr 4.61 kr 4.85 53
EV/EBITDA kr 6.14 kr 6.96 kr 7.78 54
EV/Revenue kr 4.18 kr 4.39 kr 4.61 43
Asset-Based
NCAV (Graham) kr 3.31 kr 4.44 kr 6.63 50
Growth DCF
Growth DCF kr 7.92 kr 9.96 kr 12.70 72
Rev-Margin DCF kr 5.63 kr 6.20 kr 6.93 67
Economic Profit
Residual Income kr 4.50 kr 4.25 kr 3.28 61
ROIC Compounder kr 3.90 kr 3.93 kr 3.95 67
Growth Earnings
Growth-Adj P/E kr 2.21 kr 3.15 kr 4.10 68

Widest divergence: DCF Models (kr 8.15) versus Earnings-Based (kr 1.62). Highest evidence: Growth DCF (72).

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Key figures & financial health

Revenue (TTM) 128M NOK
Revenue growth (YoY) +40.9%
Net margin 10.5%
Return on equity 4.1%
Free cash flow 22.2M NOK FY2025
P/E ratio 72.5
More key figures
Operating margin -2.2%
EPS (TTM) kr 0.2600
EPS growth (YoY) +70.2%
Net cash 181M NOK FY2021

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 69 · Market factors (momentum, volatility) 37

Profitability 33
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

ArcticZymes Technologies ASA, a life sciences company, develops, manufactures, and commercializes recombinant enzymes for use in molecular research, in vitro diagnostics, and biomanufacturing.

Full company description

ArcticZymes Technologies ASA, a life sciences company, develops, manufactures, and commercializes recombinant enzymes for use in molecular research, in vitro diagnostics, and biomanufacturing. The company offers shrimp alkaline phosphatase; cod UNG for use in viral and other molecular diagnostic assays for the removal of contaminating dU-DNA; salt active nucleases for the removal of nucleic acids during manufacturing of viral vectors, recombinant proteins, and other reagents; and double-strand specific DNases and derived kits for the removal of double stranded DNA. It also provides DNA/RNA polymerases for technology development for life science, molecular diagnostics, NGS, and synthetic biology; proteinase for microbiological diagnostics and liquid biopsies; and ligases for joining nucleic acids. The company serves the molecular tools market, and biomanufacturing markets. It operates in Norway, Germany, Lithuania, France, Italy, the United Kingdom, rest of Europe, the United States, and internationally. The company was formerly known as Biotec Pharmacon ASA and changed its name to ArcticZymes Technologies ASA in June 2020. ArcticZymes Technologies ASA was founded in 1990 and is headquartered in Tromsø, Norway.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ArcticZymes Technologies ASA reported revenue of kr 113M in FY2025 versus kr 128M in FY2021, a compound −3.1%/yr. Reported net income was kr 9.9M in FY2025, compounding −32.1%/yr from FY2021.

Growth Quality 71/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
113M NOK
Latest YoY
+7.9%
Avg. growth/yr (3Y) 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.
−6.3%
Avg. growth/yr (5Y) 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.
+3.8%
Avg. growth/yr (23Y) 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.
+12.9%
Revenue −3.1%/yr
FY21 kr 128M
FY22 kr 137M
FY23 kr 119M
FY24 kr 104M
FY25 kr 113M
Net income −32.1%/yr
FY21 kr 46.4M
FY22 kr 32.9M
FY23 kr 19.4M
FY24 kr 8.5M
FY25 kr 9.9M

AZT screens 78% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "ArcticZymes Technologies ASA Fair Value". https://www.fairvalue-calculator.com/stock/AZT

Peer Group

Biotechnology · 601 stocks

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.

Quality Score 66 · Top 25%
Fair Value upside −78% · Bottom 25%
Return on equity (TTM) 4% · Above median
Return on assets 1% · Above median
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) -2% · Below median
Revenue growth 41% · Top 25%

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 72.5× · Pricier than 75% of peers
P/B 2.84× · Pricier than median
P/S (TTM) 7.50× · Pricier than median
P/FCF 4.6× · Cheaper than median
EV/EBITDA 66.0× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 0
PAST 16 · sector 0
HEALTH 0 · sector 98
DIVIDEND 0 · sector 23

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

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $486.03 $278.78 -43%
Regeneron Pharmaceuticals, Inc REGN $664.45 $594.40 -11%
Samsung Biologics Co 207940 1,368,000 KRW 1,091,384 KRW -20%
Celltrion, Inc 068270 175,800 KRW 76,325 KRW -57%
WuXi Biologics (Cayman) Inc 2269 HK$39.54 HK$30.42 -23%
Innovent Biologics, Inc 1801 HK$86.70 HK$19.66 -77%
Sino Biopharmaceutical Limited 1177 HK$5.26 HK$3.36 -36%
ALTEOGEN Inc 196170 276,500 KRW 44,444 KRW -84%
RemeGen Co 688331 ¥134.02 ¥26.99 -80%
Biocon Limited BIOCON ₹440.70 ₹57.36 -87%

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Frequently asked questions

Is ArcticZymes Technologies ASA (AZT) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of kr 4.26 versus a price of kr 19.50, about −78% (overvalued).
What is the fair value of AZT?
Our model-based fair value for ArcticZymes Technologies ASA is kr 4.26 (as of Jul 20, 2026), built from audited fundamentals. The current price is kr 19.50.
What is the quality score of AZT?
ArcticZymes Technologies ASA has a Quality Score of 66/100. 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 revenue of ArcticZymes Technologies ASA (AZT)?
ArcticZymes Technologies ASA reported trailing-twelve-month revenue of about 128M NOK (latest available figure, as of Jul 20, 2026).
What is the net profit margin of AZT?
The net profit margin of ArcticZymes Technologies ASA is about 10.5%, meaning it keeps roughly 10.5% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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