cBrain A/S (CBRAIN) Fair Value & Analysis
Technology · DK · Market cap 965M DKK
Fair value as of: Jul 17, 2026
From 26 valuation models · updated 24 days ago
Share price +5.0% over the past month.
A solid business, but screening 13% overvalued on our models.
What matters now
- Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
- Our model range runs from kr 33.07 (bear) to kr 55.12 (bull), base kr 44.10. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 65/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.
How to read this chart
60‑month range kr 47.95 – kr 471.09 · fair‑value band kr 33.07 – kr 55.12 · the kr 50.80 price screens above the kr 44.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
Analysis
cBrain A/S (CBRAIN) currently trades at kr 50.80, while our model-based Fair Value estimate is kr 44.10, implying the stock looks roughly 13.2% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Technology 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, cBrain A/S generated revenue of 251M DKK at a net margin of 17.2%. Revenue declined 7.5% year over year. It earns a return on equity of 14.2%. The balance sheet holds a net cash position of 14.3M DKK. Fundamentals as of Jul 17, 2026
Our scenario range runs from kr 33.07 (bear case) to kr 55.12 (bull case); at kr 50.80, 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 78% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -13%, CBRAIN 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.
All 26 models by family
Widest divergence: DCF Models (kr 67.24) versus Dividend Discount (kr 8.19). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 16
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
cBrain A/S, a software company, provides software solutions for government, private, education, and non-profit sectors in Denmark, the European Union, and internationally. The company offers F2 Digital Platform, an integrated software solution that manages cases and documents for government routines and compliance.
Full company description
cBrain A/S, a software company, provides software solutions for government, private, education, and non-profit sectors in Denmark, the European Union, and internationally. The company offers F2 Digital Platform, an integrated software solution that manages cases and documents for government routines and compliance. It also provides Artificial Intelligence (AI) products, such as AI task specialist and assistant; case management and workflow automation comprising case folders and templates; FOI and request management, including request type and FOI requests; and document and records management, such as documents, document templates, records, and file plans platforms. It also offers approval and requests, including administrator approvals and approvals; collaboration and communication comprising communication and chat; and citizen portals and self-services, including self-service configuration and citizen facing portals platforms. In addition, the company provides software subscription and licenses; software-as-a-service; and customization, configuration, maintenance, operation, and support services for software. Further, it offers consultancy, education, and training services. Additionally, the company provides integration and data infrastructure; identity and access management; search and data access; and security and compliance platforms. It serves ministries; agencies; municipalities; cities; and universities. cBrain A/S was founded in 1999 and is headquartered in Copenhagen, Denmark.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
cBrain A/S reported revenue of kr 251M in FY2025 versus kr 155M in FY2021, a compound +12.9%/yr. Reported net income was kr 43.1M in FY2025, compounding +8.6%/yr from FY2021.
of which total revenue +16.3 pp · buybacks/dilution +0.3 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
CBRAIN screens 13% overvalued. Compare with SAP SE →
Peer Group
Software - Application · 709 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.
Valuation Multiples vs Software - Application median · lower = cheaper
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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.69 | C$16.26 | +28% |
| Shopify Inc SHOP | C$173.23 | C$20.54 | -88% |
| Uber Technologies, Inc UBER | $72.67 | $51.11 | -30% |
| Salesforce, Inc CRM | $170.77 | $182.10 | +7% |
| ServiceNow, Inc NOW | $107.71 | $33.12 | -69% |
| Cadence Design Systems, Inc CDNS | $384.17 | $80.41 | -79% |
| Snowflake Inc SNOW | $271.87 | $34.04 | -87% |
| Adobe Inc ADBE | $230.61 | $379.48 | +65% |
| Automatic Data Processing, Inc ADP | $241.92 | $177.51 | -27% |
| Intuit Inc INTU | $291.09 | $258.69 | -11% |
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Frequently asked questions
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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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