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BICO Group AB (BICO) fair value: what the stock is really worth

As of Oct 15, 2026: fair value of BICO Group AB SEK 66.79, price SEK 24.55, upside +172.1%, quality 47 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

Healthcare · SE · ISIN SE0013647385

BG BICO Group AB logo Thin data Oct 16, 2026

BICO Group AB

BICO · ST

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

The stock costs 63% less than our calculation considers fair.

Fair value kr 66.79 · Strongly undervalued (+172.1%)
Low debt
Generates free cash flow
Quality 47/100
Mixed vs. peers (5/11)
Weak Growth (revenue 5y +53.3 %/yr in SEK)
Loss-making · -55.8% net margin (TTM)
Narrow moat 10/100 · 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 611.00 kr 13.00 Fair Value kr 66.79 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 16, 2026.

How to read this chart

60‑month range kr 13.00 – kr 611.00 · fair‑value band kr 49.36 – kr 72.60 · the kr 24.55 price screens below the kr 66.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 16, 2026.

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Company profile

BICO Group AB (publ) provides hardware, laboratory automation, and software solutions in North America, Europe, Asia, and internationally. It operates through two segments: Life Science Solutions and Lab Automation.

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The Bioprinting segment offers 3D bioprinters and bioinks with a range of technologies for various applications, resolutions, and volume/speed requirements, as well as provides services focused on accelerating drug discovery and development.

The Life Science Solutions segment supplies lab instrumentation, consumables and applications in cell culture, cell imaging, cell sorting, and sample preparation for different analytics, such as genomics, as well as offers instruments and solutions for the manufacturing of diagnostics, as well as consumables.

The Lab Automation segment provides the proprietary and hardware-agnostic Green Button Go Suite software for connected workflows, as well as automation technology integration, and consulting and engineering services to design, build, and install automated laboratory systems.

In addition, the company offers a range of services and consumables such as reagents, bioinks, plates, and tissue models. It serves pharma and biopharma, biotech, diagnostics, academia and research, and cosmetic industries.

The company offers its products through sales organizations, as well as through distributor network. BICO Group AB (publ) was formerly known as Cellink AB (publ) and changed its name to BICO Group AB (publ) in August 2021.

The company was incorporated in 2016 and is headquartered in Gothenburg, Sweden.

Stock analysis

BICO Group AB (BICO) currently trades at kr 24.55, while our model-based Fair Value estimate is kr 66.79, implying the stock looks roughly 63.2% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of kr 73.63 per share, and 6 of the 7 models we run sit above the kr 24.55 price.

Bear case: the Asset-Based group reads lowest at kr 16.96, and 1 of the 7 models stay below the price. Data coverage for this calculation is low.

Scenario range: kr 49.36 (bear) to kr 72.60 (bull), the price of kr 24.55 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 47/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

BICO Group AB reported revenue of 1.5B SEK in FY2025 versus 1.3B SEK in FY2021, a compound +4.5%/yr. Reported net income was −1.1B SEK in FY2025.

Key figures

Market cap 1.7B SEK (≈ $174M) · P/S ratio 1.01 · EPS (TTM) kr −18.90 · Net margin −72.7% · Return on equity −66.3% · Return on assets (EBIT) −5.8% · Operating margin −9.0% · Revenue (TTM) 1.5B SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).

What moves the price

The share trades about 1% below its 52-week high and 89% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 7% fair-value upside, at 172%, BICO screens cheaper than that median.

Fair Value models

Bear kr 49.36 Fair Value kr 66.79 Bull kr 72.60
Price kr 24.55 · Upside +172.1%
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. 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
FCF DCF kr 71.72 kr 93.08 kr 155.40 75
Growth DCF kr 68.35 kr 98.95 kr 146.76 74
5Y Revenue Exit kr 42.45 kr 50.83 kr 67.63 70
All 7 models by family
DCF Models
FCF DCF kr 71.72 kr 93.08 kr 155.40 75
5Y Revenue Exit kr 42.45 kr 50.83 kr 67.63 70
10Y Revenue Exit kr 53.04 kr 73.63 kr 80.79 64
Multiples
EV/Revenue kr 25.82 kr 28.93 kr 32.04 54
Asset-Based
NCAV (Graham) kr 12.66 kr 16.96 kr 25.31 54
Growth DCF
Growth DCF kr 68.35 kr 98.95 kr 146.76 74
Rev-Margin DCF kr 44.37 kr 55.56 kr 79.61 69

Open the full fair value analysis →

Quality Score breakdown

Overall quality 47/100

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

Profitability 10
How much profit the company makes from its sales and capital
Quality Growth 15
Are margins and returns getting better?
Cashflow 44
Do the profits arrive as real cash?
Financial strength 60
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 7
How calm the share price moves, does not count
Momentum 66
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 72
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. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−23.1%
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.
−12.6%
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.
+53.3%
Start year 2020 (pandemic)
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.
+80.7%
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.
−37.4% (2020) → −16.8% (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

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).
+27.1%
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 +24.7% a year for the price.

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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.Medical Devices · 330 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside +172.1% · Top 25%
Profitability
Return on assets −29.5% · Bottom 25%
Net margin (12 months) −55.8% · Bottom 25%
Operating margin (12 months) −9.0% · Bottom 25%
Growth and dividend
Revenue growth 3.7% · Below median

Valuation Multiplesvs Medical Devices median · lower = cheaper

P/B 0.10× · Cheapest 25%
P/S (12 months) 0.12× · Cheapest 25%
Price / free cash flow 3.2× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 8
FUTURE (revenue growth)19 · sector 35
PAST (return on equity)0 · sector 16
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)0 · sector 39

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 Medical Devices stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Stryker Corporation SYK $282.60 $310.86 +10% vs BICO
Boston Scientific Corporation BSX $43.00 $47.30 +10% vs BICO
DexCom, Inc DXCM $84.11 $92.52 +10% vs BICO
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥166.00 ¥182.60 +10% vs BICO
GE HealthCare Technologies Inc GEHC $65.74 $70.37 +7% vs BICO
Edwards Lifesciences Corporation EW $85.78 $81.94 −4% vs BICO
Siemens Healthineers AG SHL €38.26 €35.19 −8% vs BICO
Abbott Laboratories, ABT $102.61 $74.79 −27% vs BICO
Medtronic plc MDT $91.93 $65.61 −29% vs BICO
Koninklijke Philips N.V PHIA €22.18 €15.23 −31% vs BICO

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BICO Group AB · Fair Value
kr 66.79 +63%Fair Value
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Cite: Fair Value Calculator (2026). "BICO Group AB Fair Value". https://www.fairvalue-calculator.com/stock/BICO

Frequently asked questions

Is BICO Group AB (BICO) overvalued or undervalued?
As of Oct 16, 2026, our model estimates a fair value of kr 66.79 versus a price of kr 24.55, about +172% upside (undervalued).
What is the fair value of BICO?
Our model-based fair value for BICO Group AB is kr 66.79 (as of Oct 16, 2026), built from audited fundamentals. The current price: kr 24.55.
What is the quality score of BICO?
BICO Group AB has a Quality Score of 47/100. 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 BICO Group AB (BICO)?
Our model-based price target is the fair value of kr 66.79 (as of Oct 16, 2026) from 7 valuation models. Cautious scenario kr 49.36, optimistic scenario kr 72.60. It is a calculation from audited fundamentals, not an analyst target.
What is the BICO Group AB stock forecast for 2026?
Our models put fair value at kr 66.79, about +172% upside versus a price of kr 24.55 (undervalued). Cautious scenario kr 49.36, optimistic scenario kr 72.60. The calculation is refreshed regularly with new filings.
What is the revenue of BICO Group AB (BICO)?
BICO Group AB reported trailing-twelve-month revenue of about 1.5B SEK (latest available figure, as of Oct 16, 2026).
What growth is priced into BICO Group AB (BICO)?
For today's price to be fair in a discounted-cash-flow model, BICO Group AB would have to grow free cash flow by +27.1 % per year for five years (discount rate 15.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +53.3 % per year. As of Oct 16, 2026.
What discount rate (WACC) does the fair value of BICO use?
Our models discount BICO Group AB at 15.0 %: a base by market capitalisation (micro), damped by beta 2.59, 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 BICO Group AB that is +27.1 % per year a year over ten years, using the same discount rate (15.0 %) and the same formula as our fair value.
How much growth has BICO Group AB (BICO) delivered so far?
Over the past 5 years revenue at BICO Group AB grew +53.3 % a year. The price currently implies +27.1 % 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 BICO Group AB (BICO) growing?
The median revenue growth in the sector is +5.4 % a year. That is the yardstick for the growth priced into BICO Group AB (+27.1 % 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 BICO Group AB (BICO)?
The free-cash-flow yield on the price is 3.18 %: that much free cash flow BICO Group AB produces per unit of market value. When it exceeds the discount rate of our models (15.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of BICO Group AB (BICO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BICO Group AB it is kr 66.79 per share (as of Oct 16, 2026), against a price of kr 24.55. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is BICO Group AB stock overvalued or undervalued in 2026?
As of Oct 16, 2026, BICO trades below its calculated fair value: price kr 24.55, fair value kr 66.79, a gap of about +172% (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 BICO?
No. The price is what the market pays today (kr 24.55); the fair value is what the company's own numbers justify (kr 66.79). For BICO Group AB the two are kr 42.24 per share apart. That gap is exactly why we show both numbers side by side.
How much is BICO Group AB worth?
The market values BICO Group AB at about 1.7B SEK (market capitalisation, as of Oct 16, 2026). Per share that is kr 24.55; our models calculate a fair value of kr 66.79 per share.
What do the bullish and bearish scenarios say about BICO?
Our models span a range for BICO Group AB: cautious scenario kr 49.36, base kr 66.79, optimistic kr 72.60 per share (as of Oct 16, 2026, price kr 24.55). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of BICO Group AB (BICO)?
Balance-sheet figures for BICO Group AB (as of Oct 16, 2026): return on equity −66.3%. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is BICO from its 52-week high?
BICO Group AB trades at kr 24.55, about 1% below its 52-week high of kr 24.90 and 89% above the low of kr 13.00 (as of Oct 15, 2026). Distance from the high says nothing about value: that is what the fair value of kr 66.79 is for.
Which stocks are comparable to BICO Group AB?
From the same area (Healthcare) we also value Abbott Laboratories,, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, 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 BICO Group AB stock attractive at the current price?
The data as of Oct 16, 2026: price kr 24.55, calculated fair value kr 66.79 (+172%), Quality Score 47/100, from 7 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 BICO calculated?
We run BICO Group AB through 7 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 66.79, 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 13.8 % above its aggregate fair value. BICO Group AB currently trades 63 % 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 BICO Group AB (BICO)?
The closing price on Oct 15, 2026 was kr 24.55. Our model-based fair value is kr 66.79, about +172% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BICO Group AB right now?
The price is below even our cautious bear case (kr 49.36). 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. Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of BICO Group AB

How large is the market capitalisation of BICO Group AB (BICO)?
The market capitalisation of BICO Group AB is 1.7B SEK (≈ $174M). 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 BICO Group AB (BICO)?
The price-to-sales ratio of BICO Group AB is 1.01 (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 BICO Group AB (BICO)?
Earnings per share at BICO Group AB are kr −18.90. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of BICO Group AB (BICO)?
The net margin of BICO Group AB is −72.7% (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 BICO Group AB (BICO)?
The return on equity (ROE) of BICO Group AB is −66.3% (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 BICO Group AB (BICO)?
On an EBIT basis the return on assets of BICO Group AB is −5.8% (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 BICO Group AB (BICO)?
The operating margin of BICO Group AB is −9.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BICO Group AB (BICO)?
Revenue at BICO Group AB is growing +3.7% versus a year earlier (3y avg −12.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does BICO Group AB (BICO) carry?
The net debt of BICO Group AB is 223M SEK (fiscal year 2025, ≈ 4.0 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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