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Case Group (CASE) Fair Value & Analysis

Financial Services · SE · Market cap 647M SEK

CG Case Group CASE · ST
Pricekr 20.40
Fair Valuekr 22.22
Upside+8.9%
Quality66/100
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Healthy Growth
Solidly profitable · 18.2% net margin
Low debt · generates free cash flow
3.54% dividend yield
Mixed vs. peers (8/14)
Moderate moat 60/100
Evidence: High Range kr 16.66 – kr 27.77 Share as image

Fair value as of: Jul 20, 2026

From 13 valuation models · updated 21 days ago

Share price −8.9% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

kr 48.24 kr 9.49 Fair Value kr 22.22 Dec 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

56‑month range kr 9.49 – kr 48.24 · fair‑value band kr 16.66 – kr 27.77 · the kr 20.40 price screens below the kr 22.22 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

Case Group (CASE) currently trades at kr 20.40, while our model-based Fair Value estimate is kr 22.22, implying the stock looks roughly 8.9% fairly valued today. The Quality Score stands at 66/100 (solid quality), in the Financial Services 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: high), always confirm before acting.

Over the trailing twelve months, Case Group generated revenue of 211M SEK at a net margin of 18.2%. Revenue declined 1.3% year over year. It earns a return on equity of 12.1%. The balance sheet holds a net cash position of 56.4M SEK. Fundamentals as of Jul 20, 2026

Our scenario range runs from kr 16.66 (bear case) to kr 27.77 (bull case); at kr 20.40, the current price sits within 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 44% below its 52-week high and 28% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at 9%, CASE 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 18.10 kr 28.68 kr 48.14 80
Residual Income kr 9.14 kr 10.37 kr 16.10 76
Rev-Margin DCF kr 14.32 kr 23.65 kr 42.18 74
All 13 models by family
DCF Models
Owner Earnings kr 18.60 kr 36.35 kr 69.27 31
5Y P/E Exit kr 21.77 kr 46.03 kr 79.05 38
10Y P/E Exit kr 21.00 kr 43.80 kr 81.17 35
Earnings-Based
Graham-Dodd kr 8.89 kr 61.98 kr 86.98 54
Lynch FV kr 27.13 kr 38.75 kr 50.38 50
Dividend Discount
Gordon GGM kr 6.02 kr 10.84 kr 14.93 70
DDM Multi-Stage kr 6.02 kr 9.91 kr 11.58 61
Multiples
P/E Multiple kr 20.58 kr 27.45 kr 34.31 63
P/B Multiple kr 16.66 kr 22.22 kr 27.77 55
Asset-Based
NCAV (Graham) kr 5.12 kr 6.86 kr 10.23 50
Growth DCF
Growth DCF kr 18.10 kr 28.68 kr 48.14 80
Rev-Margin DCF kr 14.32 kr 23.65 kr 42.18 74
Economic Profit
Residual Income kr 9.14 kr 10.37 kr 16.10 76

Widest divergence: DCF Models (kr 43.80) versus Asset-Based (kr 6.86). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 211M SEK
Revenue growth (YoY) -1.3%
Net margin 18.2%
Return on equity 12.1%
Free cash flow 40.5M SEK FY2025
P/E ratio 16.8
More key figures
Operating margin 15.5%
EPS (TTM) kr 1.20
Dividend yield 3.5%
EPS growth (YoY) -39.4%
Net cash 56.4M SEK FY2025

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 67 · Market factors (momentum, volatility) 36

Profitability 57
Margins and returns on capital today
Quality Growth 97
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 16
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

Case Group AB (publ) provides wealth management services for private clients in Sweden. It offers various investment products, such as equity, fixed income, money markets, and alternative strategies; and fund management, case elite, and institutional management services. The company was founded in 2004 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Case Group reported revenue of kr 212M in FY2025 versus kr 114M in FY2021, a compound +16.8%/yr. Reported net income was kr 42.1M in FY2025, compounding +5.8%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
212M SEK
Latest YoY
+26.9%
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.
+55.3%
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.
+22.8%
Avg. growth/yr (6Y) 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.
+14.3%
Revenue +16.8%/yr
FY21 kr 114M
FY22 kr 56.6M
FY23 kr 129M
FY24 kr 167M
FY25 kr 212M
Net income +5.8%/yr
FY21 kr 33.6M
FY22 −kr 3.0M
FY23 kr 443K
FY24 kr 17.1M
FY25 kr 42.1M

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Cite: Fair Value Calculator (2026). "Case Group Fair Value". https://www.fairvalue-calculator.com/stock/CASE

Peer Group

Asset Management · 971 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 · Above median
Fair Value upside +9% · Above median
Return on equity (TTM) 12% · Above median
Return on assets 8% · Top 25%
Net margin (TTM) 18% · Below median
Operating margin (TTM) 15% · Below median
Revenue growth -1% · Below median
Dividend yield (TTM) 3.5% · Above median
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 16.8× · Pricier than median
P/B 1.96× · Pricier than 75% of peers
P/S (TTM) 3.06× · Cheaper than median
P/FCF 1.7× · Cheaper than 75% of peers
EV/EBITDA 12.0× · Pricier 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 45 · sector 37
FUTURE 0 · sector 6
PAST 48 · sector 26
HEALTH 99 · sector 95
DIVIDEND 71 · sector 69

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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
BlackRock, Inc BLK $1,136 $465.75 -59%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 423.70 kr 847.40 +100%
Brookfield Corporation BN C$62.45 C$10.12 -84%
KKR & Co KKR $100.94 $44.88 -56%
AB Industrivärden INDUA kr 532.50 kr 1,065 +100%
Jio Financial Services Limited JIOFIN ₹242.98 ₹40.19 -83%
Hedef Holding HEDEF 267.25 TRY 320.98 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%

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Frequently asked questions

Is Case Group (CASE) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of kr 22.22 versus a price of kr 20.40, about +9% (fairly valued).
What is the fair value of CASE?
Our model-based fair value for Case Group is kr 22.22 (as of Jul 20, 2026), built from audited fundamentals. The current price is kr 20.40.
What is the quality score of CASE?
Case Group 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 Case Group (CASE)?
Case Group reported trailing-twelve-month revenue of about 211M SEK (latest available figure, as of Jul 20, 2026).
What is the net profit margin of CASE?
The net profit margin of Case Group is about 18.2%, meaning it keeps roughly 18.2% of revenue as net income. Based on the latest reported figures.
Does Case Group pay a dividend?
Case Group currently shows a dividend yield of about 3.36% relative to its recent price (as of Jul 20, 2026).

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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