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Crunchfish AB (CFISH) fair value: what the stock is really worth

As of Oct 30, 2026: fair value (intrinsic value) of Crunchfish AB stock SEK 0.83, price SEK 1.90, upside -56.2%, quality 32 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Technology SE · ISIN SE0009190192

CA Crunchfish AB logo Thin data Oct 30, 2026

Crunchfish AB

CFISH · ST
Very expensive, weak quality

Our calculation puts a fair price 56% below what the stock costs today.

Revenue last quarter 53% below a year ago.
Fair value kr 0.8330 · Strongly overvalued (−56.2%)
Quality 32/100
Weak Growth (revenue 5y −42.1 %/yr in SEK)
Negative free cash flow
Trails peers (0/6)
Narrow moat 5/100
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 47.02 kr 0.7010 Fair Value kr 0.8330 Aug 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 30, 2026.

How to read this chart

60‑month range kr 0.7010 – kr 47.02 · fair‑value band kr 0.5865 – kr 1.09 · the kr 1.90 price screens above the kr 0.8330 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 30, 2026.

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Company profile

Crunchfish AB (publ) develops and offers technology solutions. The company develops Digital Cash online, which provides payment availability and load balancing to banks, mobile operators, and payment services; and Digital Cash offline that is integrated with Digital Cash online.

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It also develops and offers Gesture Interaction, which is a touchless interaction that enable users to interact with devices without touching displays or physical buttons. The company was incorporated in 2010 and is headquartered in Malmö, Sweden.

Stock analysis

Crunchfish AB (CFISH) currently trades at kr 1.90, while our model-based Fair Value estimate is kr 0.8330, 56.2% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: kr 0.5865 (bear) to kr 1.09 (bull), the price of kr 1.90 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 32/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Crunchfish AB reported revenue of 709K SEK in FY2025 versus 4.0M SEK in FY2021, a compound −34.9%/yr. Reported net income was −20.2M SEK in FY2025.

Key figures

Market cap 153M SEK (≈ $15.6M) Micro · EPS (TTM) kr −0.3700 · Return on equity −40.3% · Return on assets (EBIT) −52.5% · Operating margin −7,327% · Revenue (TTM) 665K SEK · Revenue growth (YoY) −52.9% · Free cash flow −28.0M SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (medium confidence).

What moves the price

The share trades about 48% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −19% fair-value upside, at −56%, CFISH screens richer than that median.

Fair Value models

Bear kr 0.5865 Fair Value kr 0.8330 Bull kr 1.09
Price kr 1.90 · Upside -56.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) kr 0.0700 kr 0.1000 kr 0.1300 52
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.0700 kr 0.1000 kr 0.1300 52

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 32/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 26
Are margins and returns getting better?
Cashflow 11
Do the profits arrive as real cash?
Financial strength 92
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Momentum 12
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−75.8%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−51.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−42.1%
Start year 2020 (pandemic). Over 10 years: −15.0% a year
Revenue growth 13 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−10.6%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−231.7% (2020) → −3,187.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

CFISH screens overvalued: fair value 56% below the price. Compare with SAP SE →

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Peer Groupⓘ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.Software - Application · 645 stocks

Beats the industry median on 0/5 measures
Overall it trails its industry peers.
Valuation
Quality Score 32 · Bottom 25%
Fair Value upside −56.2% · Bottom 25%
Profitability
Return on assets −36.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −52.9% · Bottom 25%

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 3.08× · Pricier than median

Context: sector, industry, market

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

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Adobe Inc ADBE $248.12 $463.72 +87% vs CFISH
Uber Technologies, Inc UBER $65.74 $101.95 +55% vs CFISH
Salesforce, Inc CRM $230.90 $342.73 +48% vs CFISH
ServiceNow, Inc NOW $109.67 $120.64 +10% vs CFISH
SAP SE SAP €213.15 €173.59 −19% vs CFISH
Cadence Design Systems, Inc CDNS $343.08 $225.48 −34% vs CFISH
Automatic Data Processing, Inc ADP $285.37 $150.40 −47% vs CFISH
Shopify Inc SHOP $166.89 $68.68 −59% vs CFISH
Snowflake Inc SNOW $330.27 $73.81 −78% vs CFISH
Datadog, Inc DDOG $265.84 $32.52 −88% vs CFISH

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Crunchfish AB · Fair Value
kr 0.8330 −56%Fair Value
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Cite: Fair Value Calculator (2026). "Crunchfish AB Fair Value". https://www.fairvalue-calculator.com/stock/CFISH

Frequently asked questions

Is Crunchfish AB (CFISH) overvalued or undervalued?
As of Oct 30, 2026, our model estimates a fair value of kr 0.8330 versus a price of kr 1.90, about −56% upside (overvalued).
What is the fair value of CFISH?
Our model-based fair value for Crunchfish AB is kr 0.8330 (as of Oct 30, 2026), built from audited fundamentals. The current price: kr 1.90.
What is the quality score of CFISH?
Crunchfish AB has a Quality Score of 32/100. 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 price target for Crunchfish AB (CFISH)?
Our model-based price target is the fair value of kr 0.8330 (as of Oct 30, 2026) from 1 valuation models. Cautious scenario kr 0.5865, optimistic scenario kr 1.09. It is a calculation from audited fundamentals, not an analyst target.
What is the Crunchfish AB stock forecast for 2026?
Our models put fair value at kr 0.8330, about −56% upside versus a price of kr 1.90 (overvalued). Cautious scenario kr 0.5865, optimistic scenario kr 1.09. The calculation is refreshed regularly with new filings.
What is the revenue of Crunchfish AB (CFISH)?
Crunchfish AB reported trailing-twelve-month revenue of about 665K SEK (latest available figure, as of Oct 30, 2026).
What is the intrinsic value of Crunchfish AB (CFISH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Crunchfish AB it is kr 0.8330 per share (as of Oct 30, 2026), against a price of kr 1.90. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Crunchfish AB stock overvalued or undervalued in 2026?
As of Oct 30, 2026, CFISH trades above its calculated fair value: price kr 1.90, fair value kr 0.8330, a gap of about −56% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CFISH?
No. The price is what the market pays today (kr 1.90); the fair value is what the company's own numbers justify (kr 0.8330). For Crunchfish AB the two are kr 1.07 per share apart. That gap is exactly why we show both numbers side by side.
How much is Crunchfish AB worth?
The market values Crunchfish AB at about 153M SEK (market capitalisation, as of Oct 30, 2026). Per share that is kr 1.90; our models calculate a fair value of kr 0.8330 per share.
What do the bullish and bearish scenarios say about CFISH?
Our models span a range for Crunchfish AB: cautious scenario kr 0.5865, base kr 0.8330, optimistic kr 1.09 per share (as of Oct 30, 2026, price kr 1.90). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Crunchfish AB (CFISH)?
Balance-sheet figures for Crunchfish AB (as of Oct 30, 2026): return on equity −40.3%. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is CFISH from its 52-week high?
Crunchfish AB trades at kr 1.90, about 48% below its 52-week high of kr 3.64 and 3% above the low of kr 1.85 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.8330 is for.
Which stocks are comparable to Crunchfish AB?
From the same area (Technology) we also value SAP SE, Shopify Inc, Salesforce, Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Crunchfish AB stock attractive at the current price?
The data as of Oct 30, 2026: price kr 1.90, calculated fair value kr 0.8330 (−56%), Quality Score 32/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CFISH calculated?
We run Crunchfish AB through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 0.8330, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.4 % above its aggregate fair value. Crunchfish AB itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Crunchfish AB (CFISH)?
The closing price on Oct 30, 2026 was kr 1.90. Our model-based fair value is kr 0.8330, about −56% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Crunchfish AB right now?
The price sits above even our optimistic bull case (kr 1.09). The favourable scenario is already priced in. Weak quality (32/100) 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 0.5865 to kr 1.09) leaves room in how you read the outcome.

Key figures of Crunchfish AB

How large is the market capitalisation of Crunchfish AB (CFISH)?
The market capitalisation of Crunchfish AB is 153M SEK (≈ $15.6M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Crunchfish AB (CFISH)?
Earnings per share at Crunchfish AB are kr −0.3700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Crunchfish AB (CFISH)?
The return on equity (ROE) of Crunchfish AB is −40.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Crunchfish AB (CFISH)?
On an EBIT basis the return on assets of Crunchfish AB is −52.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Crunchfish AB (CFISH)?
The operating margin of Crunchfish AB is −7,327% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Crunchfish AB (CFISH)?
Revenue at Crunchfish AB is growing −52.9% versus a year earlier (3y avg −51.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Crunchfish AB (CFISH) generate?
The free cash flow of Crunchfish AB is −28.0M SEK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Crunchfish AB (CFISH) hold?
Crunchfish AB holds more cash than debt, 10.9M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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