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BrainCool AB (BRAIN) Fair Value & Analysis

Healthcare · SE · Market cap 319M SEK

BA BrainCool AB BRAIN · ST
Pricekr 0.7500
Fair Valuekr 0.2100
Upside-72.0%
Quality34/100
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Expensive Growth
Loss-making · -83.6% net margin
Low debt · negative free cash flow
Trails peers (3/10)
Narrow moat 9/100
Evidence: Low Range kr 0.1400 – kr 0.2700 Share as image

Fair value as of: Jul 11, 2026

From 1 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from kr 1.34 to kr 0.2100 (−84.3%) since Jun 24, 2026. Share price −7.3% over the past month.

Below-average quality, and screening another 72% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 0.2700). The favourable scenario is already priced in.
  • Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (kr 0.1400 to kr 0.2700) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 10.28 kr 0.4400 Fair Value kr 0.2100 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range kr 0.4400 – kr 10.28 · fair‑value band kr 0.1400 – kr 0.2700 · the kr 0.7500 price screens above the kr 0.2100 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

Full chart & analysis →

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Analysis

BrainCool AB (BRAIN) currently trades at kr 0.7500, while our model-based Fair Value estimate is kr 0.2100, implying the stock looks roughly 72.0% overvalued today. The Quality Score stands at 34/100 (below-average 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: low).

Over the trailing twelve months, BrainCool AB generated revenue of 44.0M SEK at a net margin of -83.6%. Revenue declined 5.2% year over year. It earns a return on equity of -24.2%. The balance sheet holds a net cash position of 39.6M SEK. Fundamentals as of Jul 11, 2026

Our scenario range runs from kr 0.1400 (bear case) to kr 0.2700 (bull case); at kr 0.7500, 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 55% below its 52-week high and 83% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -22% fair-value upside, at -72%, BRAIN 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
NCAV (Graham) kr 0.2200 kr 0.3000 kr 0.4500 50
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.2200 kr 0.3000 kr 0.4500 50

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Key figures & financial health

Revenue (TTM) 44.0M SEK
Revenue growth (YoY) -5.2%
Net margin -83.6%
Return on equity -24.2%
Free cash flow −56.5M SEK FY2025
Operating margin -81.9%
More key figures
EPS (TTM) kr -0.1300
Net cash 39.6M SEK FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 34/100

Of which business quality 38 · Market factors (momentum, volatility) 29

Profitability 1
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 38
Disciplined investing over empire-building
Low Volatility 14
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 40
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

BrainCool AB (publ), a medical device company, together with its subsidiaries, engages in the development, marketing, and sale of medical cooling systems for the healthcare sector in Sweden. The company offers BrainCool system, a system to monitor and control a patient's temperature to anatomical zones for head/neck, thighs, and torso.

Full company description

BrainCool AB (publ), a medical device company, together with its subsidiaries, engages in the development, marketing, and sale of medical cooling systems for the healthcare sector in Sweden. The company offers BrainCool system, a system to monitor and control a patient's temperature to anatomical zones for head/neck, thighs, and torso. It also offers RhinoChill system, a portable and battery-powered cooling product to spray liquid coolant for patient's nostrils with a catheter; Cooral system provides medical professionals a way to reduce the risk of oral mucositis; and IQool system, a temperature management system that monitors and controls a patient's temperature. In addition, the company provides products for medical cooling treatments for diseases, including stroke, cardiac arrest, migraine, and oral mucositis. BrainCool AB (publ) was incorporated in 2010 and is based in Lund, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BrainCool AB reported revenue of kr 36.2M in FY2025 versus kr 9.3M in FY2021, a compound +40.6%/yr. Reported net income was −kr 37.1M in FY2025.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
36.2M SEK
Latest YoY
−9.4%
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.
+27.2%
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.
+38.8%
Avg. growth/yr (9Y) 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.
+53.2%
Revenue +40.6%/yr
FY21 kr 9.3M
FY22 kr 17.6M
FY23 kr 23.2M
FY24 kr 40.0M
FY25 kr 36.2M
Net income
FY21 −kr 38.8M
FY22 −kr 45.6M
FY23 −kr 61.3M
FY24 −kr 44.0M
FY25 −kr 37.1M

BRAIN screens 72% overvalued. Compare with Abbott Laboratories, →

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

Peer Group

Medical Devices · 352 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 38 · Bottom 25%
Fair Value upside −72% · Bottom 25%
Return on assets -14% · Bottom 25%
Net margin (TTM) -84% · Bottom 25%
Operating margin (TTM) -82% · Bottom 25%
Revenue growth -5% · Below median

Valuation Multiples vs Medical Devices median · lower = cheaper

P/B 0.19× · Cheaper than 75% of peers
P/S (TTM) 0.76× · Cheaper than median

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 0 · sector 29
PAST 0 · sector 8
HEALTH 100 · sector 97
DIVIDEND 0 · sector 38

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

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 Medical Devices stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $100.68 $74.79 -26%
Stryker Corporation SYK $316.44 $186.28 -41%
Medtronic plc MDT $83.56 $65.57 -22%
Boston Scientific Corporation BSX $43.04 $38.44 -11%
Edwards Lifesciences Corporation EW $85.73 $41.02 -52%
Siemens Healthineers AG SHL €34.59 €33.87 -2%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥149.43 ¥147.63 -1%
Shanghai United Imaging Healthcare Co 688271 ¥109.00 ¥43.60 -60%
Demant A/S DEMANT kr 276.60 kr 161.17 -42%
Getinge AB GETIB kr 206.80 kr 192.14 -7%

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Frequently asked questions

Is BrainCool AB (BRAIN) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of kr 0.2100 versus a price of kr 0.7500, about −72% (overvalued).
What is the fair value of BRAIN?
Our model-based fair value for BrainCool AB is kr 0.2100 (as of Jul 11, 2026), built from audited fundamentals. The current price is kr 0.7500.
What is the quality score of BRAIN?
BrainCool AB has a Quality Score of 34/100. 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 BrainCool AB (BRAIN)?
BrainCool AB reported trailing-twelve-month revenue of about 44.0M SEK (latest available figure, as of Jul 11, 2026).
What is the net profit margin of BRAIN?
The net profit margin of BrainCool AB is about -83.6%, meaning it is currently running at a net loss. 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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