CodeMill AB (CDMIL) Fair Value & Analysis
Technology · SE · Market cap 195M SEK
Fair value as of: Jul 19, 2026
From 14 valuation models · updated 22 days ago
Share price −9.2% over the past month.
Below-average quality, and screening another 71% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 4.53). The favourable scenario is already priced in.
- Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
60‑month range kr 4.03 – kr 22.35 · fair‑value band kr 3.54 – kr 4.53 · the kr 13.75 price screens above the kr 4.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.
Analysis
CodeMill AB (CDMIL) currently trades at kr 13.75, while our model-based Fair Value estimate is kr 4.04, implying the stock looks roughly 70.6% overvalued today. The Quality Score stands at 46/100 (below-average 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: medium).
Over the trailing twelve months, CodeMill AB generated revenue of 74.3M SEK at a net margin of 0.1%. Revenue declined 10.8% year over year. It earns a return on equity of 0.1%. The balance sheet holds a net cash position of 27.9M SEK. Fundamentals as of Jul 19, 2026
Our scenario range runs from kr 3.54 (bear case) to kr 4.53 (bull case); at kr 13.75, 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 39% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -71%, CDMIL 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.
All 14 models by family
Widest divergence: DCF Models (kr 5.57) versus Asset-Based (kr 2.45). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 30
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
CodeMill AB (publ) provides media workflow applications in Sweden and internationally. It offers Accurate.Video, a web-based platform for video production created for media and other companies; Accurate Player SDK, a cloud based video player; and Cantemo, a media management platform that helps customers order and structure in their media library.
Full company description
CodeMill AB (publ) provides media workflow applications in Sweden and internationally. It offers Accurate.Video, a web-based platform for video production created for media and other companies; Accurate Player SDK, a cloud based video player; and Cantemo, a media management platform that helps customers order and structure in their media library. The company also provides digital services; and software development and technical services for video and media companies. CodeMill AB (publ) was incorporated in 2008 and is based in Umeå, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
CodeMill AB reported revenue of kr 67.2M in FY2025 versus kr 34.6M in FY2021, a compound +18.0%/yr. Reported net income was −kr 42.0K in FY2025.
CDMIL screens 71% 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.
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.
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 19, 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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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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