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Brilliant Future AB (BRILL) Fair Value & Analysis

Industrials · SE · Market cap 51.9M SEK

BF Brilliant Future AB BRILL · ST
Pricekr 3.56
Fair Valuekr 6.18
Upside+73.6%
Quality43/100
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Weak Growth
Loss-making · -7.2% net margin
generates free cash flow
Mixed vs. peers (4/10)
Narrow moat 12/100
Evidence: Medium Range kr 4.90 – kr 7.47 Share as image

Fair value as of: Jul 14, 2026

From 13 valuation models · updated 27 days ago

Share price −5.3% over the past month.

Below-average quality, screening 74% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (kr 4.90). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

kr 18.30 kr 3.56 Fair Value kr 6.18 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range kr 3.56 – kr 18.30 · fair‑value band kr 4.90 – kr 7.47 · the kr 3.56 price screens below the kr 6.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Brilliant Future AB (BRILL) currently trades at kr 3.56, while our model-based Fair Value estimate is kr 6.18, implying the stock looks roughly 73.6% undervalued today. The Quality Score stands at 43/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Brilliant Future AB generated revenue of 98.4M SEK at a net margin of -6.2%. Revenue grew 0.7% year over year. It earns a return on equity of -20.9%. The balance sheet holds a net cash position of 14.4M SEK. Fundamentals as of Jul 14, 2026

Our scenario range runs from kr 4.90 (bear case) to kr 7.47 (bull case); at kr 3.56, the current price sits below 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 39% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -15% fair-value upside, at 74%, BRILL screens cheaper 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 6.13 kr 7.34 kr 9.13 72
Gordon GGM kr 0.7200 kr 0.7700 kr 0.8500 70
Rev-Margin DCF kr 6.41 kr 8.90 kr 11.96 67
All 13 models by family
DCF Models
FCF DCF kr 6.00 kr 7.29 kr 9.36 38
Owner Earnings kr 3.95 kr 4.70 kr 5.92 31
5Y Revenue Exit kr 6.41 kr 8.76 kr 12.17 39
5Y EBITDA Exit kr 5.13 kr 6.55 kr 8.43 41
10Y Revenue Exit kr 6.07 kr 7.59 kr 9.21 36
10Y EBITDA Exit kr 5.52 kr 6.43 kr 7.34 37
Dividend Discount
Gordon GGM kr 0.7200 kr 0.7700 kr 0.8500 70
DDM Multi-Stage kr 0.7200 kr 0.8400 kr 0.9800 61
Multiples
EV/EBITDA kr 4.90 kr 6.18 kr 7.47 54
EV/Revenue kr 7.29 kr 9.97 kr 12.64 43
Asset-Based
NCAV (Graham) kr 0.9600 kr 1.28 kr 1.91 50
Growth DCF
Growth DCF kr 6.13 kr 7.34 kr 9.13 72
Rev-Margin DCF kr 6.41 kr 8.90 kr 11.96 67

Widest divergence: Growth DCF (kr 7.34) versus Dividend Discount (kr 0.7700). Highest evidence: Growth DCF (72).

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Key figures & financial health

Revenue (TTM) 98.3M SEK
Revenue growth (YoY) -0.5%
Net margin -7.2%
Return on equity -26.6%
Free cash flow 9.5M SEK FY2025
Operating margin -13.4%
More key figures
EPS (TTM) kr -0.5200
EPS growth (YoY) +90.7%
Net cash 14.4M SEK FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 46 · Market factors (momentum, volatility) 32

Profitability 15
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 4
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

Brilliant Future AB (publ), a software-as-a-service company, provides data-driven survey and action platforms for measuring customer and employee experience in Sweden.

Full company description

Brilliant Future AB (publ), a software-as-a-service company, provides data-driven survey and action platforms for measuring customer and employee experience in Sweden. The company offers an employee experience platform, which includes flexible surveys, insights and strategic overview, and follow up and drive change services; a customer experience platform, which comprises an interactive dashboard, text and sentiment analysis, and close the loop services; and a customer service platform, which consists of AI dashboards, productivity, benchmarking, and coaching made easy services. Brilliant Future AB (publ) was incorporated in 1990 and is based in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Brilliant Future AB reported revenue of kr 85.9M in FY2025 versus kr 98.9M in FY2021, a compound −3.5%/yr. Reported net income was −kr 6.1M in FY2025.

Growth Quality 30/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
85.9M SEK
Latest YoY
+0.4%
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.
+2.6%
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.
−1.5%
Avg. growth/yr (7Y) 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.
−2.8%
Revenue −3.5%/yr
FY21 kr 98.9M
FY22 kr 79.6M
FY23 kr 88.5M
FY24 kr 85.6M
FY25 kr 85.9M
Net income
FY21 −kr 25.9M
FY22 −kr 32.5M
FY23 −kr 11.2M
FY24 −kr 4.8M
FY25 −kr 6.1M

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Cite: Fair Value Calculator (2026). "Brilliant Future AB Fair Value". https://www.fairvalue-calculator.com/stock/BRILL

Peer Group

Consulting Services · 82 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 43 · Bottom 25%
Fair Value upside +74% · Top 25%
Return on assets -6% · Bottom 25%
Net margin (TTM) -7% · Bottom 25%
Operating margin (TTM) -13% · Bottom 25%
Revenue growth -1% · Below median

Valuation Multiples vs Consulting Services median · lower = cheaper

P/B 0.21× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers
P/FCF 0.6× · Cheaper 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 100 · sector 20
FUTURE 0 · sector 14
PAST 0 · sector 40
HEALTH 0 · sector 89
DIVIDEND 0 · sector 49

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 Consulting Services stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Verisk Analytics, Inc VRSK $201.49 $145.58 -28%
SGS SA SGSN CHF 94.68 CHF 68.96 -27%
Equifax Inc EFX $177.08 $101.34 -43%
Bureau Veritas SA BVI €27.20 €27.81 +2%
ALS Limited ALQ A$21.96 A$11.02 -50%
Booz Allen Hamilton Holding BAH $63.94 $120.62 +89%
DKSH Holding DKSH CHF 67.60 CHF 64.81 -4%
FTI Consulting, Inc FCN $156.86 $171.64 +9%
Centre Testing International Group 300012 ¥14.06 ¥11.90 -15%
GRG Metrology & Test Group 002967 ¥16.56 ¥11.69 -29%

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Frequently asked questions

Is Brilliant Future AB (BRILL) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of kr 6.18 versus a price of kr 3.56, about +74% (undervalued).
What is the fair value of BRILL?
Our model-based fair value for Brilliant Future AB is kr 6.18 (as of Jul 14, 2026), built from audited fundamentals. The current price is kr 3.56.
What is the quality score of BRILL?
Brilliant Future AB has a Quality Score of 43/100. 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 Brilliant Future AB (BRILL)?
Brilliant Future AB reported trailing-twelve-month revenue of about 98.4M SEK (latest available figure, as of Jul 14, 2026).
What is the net profit margin of BRILL?
The net profit margin of Brilliant Future AB is about -6.2%, 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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