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Cloetta AB (CLOEF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Cloetta AB $6.05, price $5.00, upside +21.0%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Broad data
Sep 24, 2026
Broad data
Sep 24, 2026
Cloetta AB
CLOEF · USUndervaluedQuality growthThe stock appears undervalued with acceptable quality.
✓Fair value $6.05 · Undervalued (+21.0%)
✓Quality 69/100
!Mixed Growth (revenue 5y +8.3 %/yr)
!Thin margins · 8.7% net margin (TTM)
✓Low debt · generates free cash flow
!Moderate moat 58/100
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
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $0.8033 – $5.80 · fair‑value band $3.90 – $7.91 · the $5.00 price screens below the $6.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Cloetta AB (publ) operates as a confectionery company. The company operates through Branded Packaged Products and Pick & Mix segments.
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Cloetta AB (publ) operates as a confectionery company. The company operates through Branded Packaged Products and Pick & Mix segments. It manufactures and markets chocolate confectionery products, including pralines, chocolate wafers, dragees, plates, and countlines under the Kexchoklad, Polly, Plopp, Tupla, Royal, Sportlunch, Bridge, Lonka, Sinas, CandyKing and Snippers brand names. The company also provides candy products comprising foams, wine gums, liquorice, toffees, hard boiled candies, and lollypops under the Malaco, Red Band, Ahlgrens Bilar, Gott & Blandat, Venco, Chewits, and Juleskum brand names. In addition, it offers pastilles under the Läkerol, Mynthon, and King brands, as well as chewing gums under the Jenkki, Sportlife, and Xylifresh brands. Further, the company trades nuts under the Parrot's brand. It sells its products through a network of grocery retail trade, and service trade including convenience stores, e-commerce, and other sales channels in Sweden, Finland, the Netherlands, Denmark, Norway, Germany, the United Kingdom, and internationally. Cloetta AB (publ) was founded in 1862 and is headquartered in Sundbyberg, Sweden.
Stock analysis
Cloetta AB (CLOEF) currently trades at $5.00, while our model-based Fair Value estimate is $6.05, implying the stock looks roughly 17.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $5.22 per share, and 11 of the 26 models we run sit above the $5.00 price.
Bear case: the Asset-Based group reads lowest at $1.35, and 15 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $3.90 (bear) to $7.91 (bull), the price of $5.00 sits inside 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 69/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cloetta AB reported revenue of 8.5B SEK in FY2025 versus 6.0B SEK in FY2021, a compound +8.9%/yr. Reported net income was 789M SEK in FY2025, compounding +13.7%/yr from FY2021.
Key figures
Market cap $1.5B · P/E ratio 17.5 · P/S ratio 1.62 · EPS (TTM) $0.2800 · Net margin 9.3% · Return on equity 13.0% · Return on assets (EBIT) 7.2% · Revenue (TTM) 8.6B SEK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (medium confidence).
What moves the price
The share trades about 14% below its 52-week high and 49% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −38% fair-value upside, at 21%, CLOEF screens cheaper than that median.
Fair Value models
Bear $3.90
Fair Value $6.05
Bull $7.91
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.2117 per share) are deliberately not added.
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.
Evidence ⓘEvidence = 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.
Highest evidence
FCF DCF
$3.38
$5.22
$7.78
80
Growth DCF
$3.38
$5.09
$7.39
78
Owner Earnings
$3.35
$5.17
$7.71
76
All 26 models by family
DCF Models
FCF DCF
$3.38
$5.22
$7.78
80
Owner Earnings
$3.35
$5.17
$7.71
76
5Y Revenue Exit
$3.03
$4.93
$7.38
72
5Y EBITDA Exit
$3.89
$6.59
$9.80
74
5Y P/E Exit
$3.58
$6.00
$8.59
70
10Y Revenue Exit
$3.04
$4.74
$7.07
66
10Y EBITDA Exit
$3.63
$5.81
$8.80
67
10Y P/E Exit
$3.45
$5.42
$7.93
63
Earnings-Based
Graham-Dodd
$1.90
$6.84
$9.21
64
Lynch FV
$1.62
$2.31
$3.00
61
PEG = 1.0
$1.62
$2.31
$3.00
57
EPV
$2.49
$2.85
$3.16
74
Dividend Discount
Gordon GGM
$0.8600
$1.55
$2.13
68
DDM Multi-Stage
$0.8600
$1.41
$1.65
67
Multiples
P/E Multiple
$4.40
$5.87
$7.34
63
P/S Multiple
$3.56
$4.75
$5.94
58
P/B Multiple
$3.56
$4.75
$5.94
55
EV/EBIT
$5.11
$6.89
$8.67
66
EV/EBITDA
$4.75
$6.41
$8.07
67
EV/Revenue
$2.95
$4.30
$5.66
53
Asset-Based
NCAV (Graham)
$1.01
$1.35
$2.02
54
Growth DCF
Growth DCF
$3.38
$5.09
$7.39
78
Rev-Margin DCF
$3.03
$4.94
$7.22
72
Economic Profit
Residual Income
$1.85
$2.17
$2.92
76
ROIC Compounder
$2.60
$3.26
$4.06
72
Growth Earnings
Growth-Adj P/E
$3.08
$4.40
$5.72
67
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Set up alert →Quality Score breakdown
Overall quality
69/100
Of which business quality 65 · Market factors (momentum, volatility) 68
Profitability
53
Margins and returns on capital today
Quality Growth
70
Are margins and returns improving?
Cashflow
62
Earnings quality: real cash, not paper profit
Fin. Strength
50
Balance sheet, leverage, solvency risk
Investment
92
Disciplined investing over empire-building
Low Volatility
73
Calm price path (market factor)
Momentum
61
Price trend over the last 3–12 months (market factor)
52W Momentum
74
Distance to the 52-week high (market factor)
Net Issuance
85
Share count: buybacks or dilution?
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.
76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.3%
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.
+7.4%
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.
+8.3%
Start year 2020 (pandemic). Over 10 years: +4.1% a year
Revenue growth 19 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.
+5.5%
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’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+18.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.3%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.0% vs 9.7%, steady
Profit margin 2020 to 2025 ⓘ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.8% → 14%
2025 sits 81% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in SEK, Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +5.1% a year for the price.
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA 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 Confectioners stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Mondelez International, Inc MDLZ | $57.82 | $29.03 | −50% |
| The Hershey Company HSY | $161.41 | $90.80 | −44% |
| Chocoladefabriken Lindt & Sprüngli AG LISP | CHF 7,540 | CHF 11,708 | +55% |
| Barry Callebaut AG BARN | CHF 1,062 | CHF 654.80 | −38% |
| Cofco Sugar Holding 600737 | ¥14.75 | ¥10.01 | −32% |
| ORION Corp 271560 | 106,900 KRW | 203,315 KRW | +90% |
| Tootsie Roll Industries, Inc TROLB | $39.00 | $21.64 | −45% |
| Guangxi Yuegui Guangye Holdings 000833 | ¥18.76 | ¥8.53 | −55% |
| Balrampur Chini Mills Limited BALRAMCHIN | ₹649.05 | ₹160.97 | −75% |
| ORION Holdings 001800 | 23,000 KRW | 51,062 KRW | +122% |
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Frequently asked questions
Is Cloetta AB (CLOEF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $6.05 versus a price of $5.00, about +21% upside (undervalued).
What is the fair value of CLOEF?
Our model-based fair value for Cloetta AB is $6.05 (as of Sep 24, 2026), built from audited fundamentals. The current price: $5.00.
What is the quality score of CLOEF?
Cloetta AB has a Quality Score of 69/100. 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 Cloetta AB (CLOEF)?
Our model-based price target is the fair value of $6.05 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario $3.90, optimistic scenario $7.91. It is a calculation from audited fundamentals, not an analyst target.
What is the Cloetta AB stock forecast for 2026?
Our models put fair value at $6.05, about +21% upside versus a price of $5.00 (undervalued). Cautious scenario $3.90, optimistic scenario $7.91. The calculation is refreshed regularly with new filings.
What is the revenue of Cloetta AB (CLOEF)?
Cloetta AB reported trailing-twelve-month revenue of about 8.6B SEK (latest available figure, as of Sep 24, 2026).
What growth is priced into Cloetta AB (CLOEF)?
For today's price to be fair in a discounted-cash-flow model, Cloetta AB would have to grow free cash flow by +7.2 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of CLOEF use?
Our models discount Cloetta AB at 10.3 %: a base by market capitalisation (small), damped by beta 0.67, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cloetta AB that is +7.2 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Cloetta AB (CLOEF) delivered so far?
Over the past 5 years revenue at Cloetta AB grew +8.4 % a year. The price currently implies +7.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cloetta AB (CLOEF) growing?
The median revenue growth in the sector is +2.8 % a year. That is the yardstick for the growth priced into Cloetta AB (+7.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cloetta AB (CLOEF)?
The free-cash-flow yield on the price is 6.46 %: that much free cash flow Cloetta AB produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cloetta AB (CLOEF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cloetta AB it is $6.05 per share (as of Sep 24, 2026), against a price of $5.00. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Cloetta AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CLOEF trades below its calculated fair value: price $5.00, fair value $6.05, a gap of about +21% (undervalued). 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 CLOEF?
No. The price is what the market pays today ($5.00); the fair value is what the company's own numbers justify ($6.05). For Cloetta AB the two are $1.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cloetta AB worth?
The market values Cloetta AB at about $1.5B (market capitalisation, as of Sep 24, 2026). Per share that is $5.00; our models calculate a fair value of $6.05 per share.
What do the bullish and bearish scenarios say about CLOEF?
Our models span a range for Cloetta AB: cautious scenario $3.90, base $6.05, optimistic $7.91 per share (as of Sep 24, 2026, price $5.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is CLOEF from its 52-week high?
Cloetta AB trades at $5.00, about 14% below its 52-week high of $5.80 and 49% above the low of $3.36 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $6.05 is for.
Which stocks are comparable to Cloetta AB?
From the same area (Consumer Defensive) we also value Mondelez International, Inc, The Hershey Company, Chocoladefabriken Lindt & Sprüngli AG, Barry Callebaut AG, 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 Cloetta AB stock attractive at the current price?
The data as of Sep 24, 2026: price $5.00, calculated fair value $6.05 (+21%), Quality Score 69/100, from 26 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 CLOEF calculated?
We run Cloetta AB through 26 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 $6.05, 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 14.5 % above its aggregate fair value. Cloetta AB currently trades 17 % below its own fair value, and the market average says nothing about that. 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 Cloetta AB (CLOEF)?
The closing price on Oct 2, 2026 was $5.00. Our model-based fair value is $6.05, about +21% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cloetta AB right now?
Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($3.90 to $7.91) leaves room in how you read the outcome.
Where does the earnings growth of Cloetta AB (CLOEF) come from?
Earnings per share at Cloetta AB grew +6.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.7 %, EBIT margin −0.6 %, tax rate +0.0 %, residual (interest, one-offs) +2.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Cloetta AB
How large is the market capitalisation of Cloetta AB (CLOEF)?
The market capitalisation of Cloetta AB is $1.5B. 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 is the P/E ratio of Cloetta AB (CLOEF)?
The price-to-earnings ratio of Cloetta AB is 17.5. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Cloetta AB (CLOEF)?
The price-to-sales ratio of Cloetta AB is 1.62 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cloetta AB (CLOEF)?
Earnings per share at Cloetta AB are $0.2800 (price ÷ EPS = P/E 17.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cloetta AB (CLOEF)?
The net margin of Cloetta AB is 9.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cloetta AB (CLOEF)?
The return on equity (ROE) of Cloetta AB is 13.0% (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 Cloetta AB (CLOEF)?
On an EBIT basis the return on assets of Cloetta AB is 7.2% (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.
How fast is revenue growing at Cloetta AB (CLOEF)?
Revenue at Cloetta AB is growing +3.6% versus a year earlier (3y avg +7.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cloetta AB (CLOEF)?
Earnings per share at Cloetta AB are growing −17.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cloetta AB (CLOEF) carry?
The net debt of Cloetta AB is 870M SEK (fiscal year 2025, ≈ 0.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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