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ContextVision AB (CONTX) Fair Value & Analysis

Healthcare · NO · Market cap 253M NOK

CA ContextVision AB CONTX · OL
Pricekr 3.40
Fair Valuekr 0.7400
Upside-78.2%
Quality52/100
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Expensive Growth
Thin margins · 4.2% net margin
generates free cash flow
Trails peers (3/13)
Narrow moat 35/100
Evidence: High Range kr 0.6000 – kr 0.7400 Share as image

Fair value as of: Jul 19, 2026

From 24 valuation models · updated 22 days ago

Share price +1.8% over the past month.

A solid business, but screening 78% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 0.7400). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 25.95 kr 2.84 Fair Value kr 0.7400 May 2021 Aug 2026

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 2.84 – kr 25.95 · fair‑value band kr 0.6000 – kr 0.7400 · the kr 3.40 price screens above the kr 0.7400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

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Analysis

ContextVision AB (CONTX) currently trades at kr 3.40, while our model-based Fair Value estimate is kr 0.7400, implying the stock looks roughly 78.2% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Healthcare 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, ContextVision AB generated revenue of 109M NOK at a net margin of 4.2%. Revenue grew 9.2% year over year. It earns a return on equity of 5.2%. The balance sheet holds a net cash position of 63.9M NOK. Fundamentals as of Jul 19, 2026

Our scenario range runs from kr 0.6000 (bear case) to kr 0.7400 (bull case); at kr 3.40, 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 32% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -53% fair-value upside, at -78%, CONTX 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.

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
Residual Income kr 0.7600 kr 0.7000 kr 0.4300 76
Growth DCF kr 0.9600 kr 0.9700 kr 0.9700 72
Gordon GGM kr 2.17 kr 3.54 kr 4.72 70
All 24 models by family
DCF Models
FCF DCF kr 0.9600 kr 0.9700 kr 0.9700 38
Owner Earnings kr 1.32 kr 1.45 kr 1.60 31
5Y Revenue Exit kr 0.9700 kr 1.00 kr 1.02 39
5Y EBITDA Exit kr 1.45 kr 1.86 kr 2.33 41
5Y P/E Exit kr 1.03 kr 1.10 kr 1.17 38
10Y Revenue Exit kr 0.9700 kr 0.9800 kr 1.00 36
10Y EBITDA Exit kr 1.23 kr 1.49 kr 1.83 37
10Y P/E Exit kr 1.00 kr 1.04 kr 1.10 35
Earnings-Based
Graham-Dodd kr 0.0700 kr 0.1900 kr 0.2400 54
PEG = 1.0 kr 0.0400 kr 0.0500 kr 0.0700 46
EPV kr 0.9600 kr 0.9600 kr 0.9600 59
Dividend Discount
Gordon GGM kr 2.17 kr 3.54 kr 4.72 70
DDM Multi-Stage kr 2.17 kr 3.04 kr 3.79 61
Multiples
P/E Multiple kr 0.1700 kr 0.2300 kr 0.2900 63
P/S Multiple kr 0.1300 kr 0.1800 kr 0.2200 58
P/B Multiple kr 0.1300 kr 0.1800 kr 0.2200 55
EV/EBIT kr 1.01 kr 1.03 kr 1.06 53
EV/EBITDA kr 1.99 kr 2.34 kr 2.69 54
EV/Revenue kr 0.9900 kr 1.01 kr 1.03 43
Asset-Based
NCAV (Graham) kr 0.6200 kr 0.8300 kr 1.24 50
Growth DCF
Growth DCF kr 0.9600 kr 0.9700 kr 0.9700 72
Economic Profit
Residual Income kr 0.7600 kr 0.7000 kr 0.4300 76
ROIC Compounder kr 0.9600 kr 0.9600 kr 0.9600 67
Growth Earnings
Growth-Adj P/E kr 0.1400 kr 0.1900 kr 0.2500 68

Widest divergence: Dividend Discount (kr 3.04) versus Earnings-Based (kr 0.1900). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 109M NOK
Revenue growth (YoY) +9.2%
Net margin 4.2%
Return on equity 5.2%
Free cash flow 202K NOK FY2025
P/E ratio 56.7
More key figures
EPS (TTM) kr 0.0600
EPS growth (YoY) -42.8%
Net cash 63.9M NOK FY2024

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 54 · Market factors (momentum, volatility) 33

Profitability 44
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 82
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

ContextVision AB (publ), a software company, provides image analysis and imaging for medical systems in South Korea, China, Japan, the United States, and internationally.

Full company description

ContextVision AB (publ), a software company, provides image analysis and imaging for medical systems in South Korea, China, Japan, the United States, and internationally. The company offers image quality solutions for ultrasound, as well as its Rivent platform comprising Rivent, a 2D image enhancement; Rivent Plus, a premium 2D image enhancement product; Rivent 3D, a solution for improving image quality of 3D ultrasound; and Rivent Mobile, a 2D image enhancement for handheld devices for diagnostics in various fields, including radiology, cardiology, women's health, veterinary medicine, and point of-care applications. It also provides Altumira platform, which features scatter correction and improves radiography by enabling radiation dose reduction while enhancing image quality, such as Altumira for static applications; and Altumira Plus for dynamic applications. In addition, the company offers image quality solutions for MRI including GOPView MRI2Plus for the requirements of each application, sequence type, and protocol; and implementation projects, software updates, and upgrades and product support services. It has a strategic clinical development partnership with the University of Washington to identify a multiparametric biomarker for the screening and staging of the liver disease MASLD; and research partnership with AMRA Medical. ContextVision AB (publ) was incorporated in 1989 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ContextVision AB reported revenue of kr 110M in FY2025 versus kr 98.1M in FY2021, a compound +3.0%/yr. Reported net income was kr 787K in FY2025.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
110M NOK
Latest YoY
−15.6%
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.
−2.2%
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.
+3.1%
Avg. growth/yr (23Y) 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.
+5.1%
Revenue +3.0%/yr
FY21 kr 98.1M
FY22 kr 118M
FY23 kr 132M
FY24 kr 131M
FY25 kr 110M
Net income
FY21 −kr 7.7M
FY22 kr 28.8M
FY23 kr 32.7M
FY24 kr 24.7M
FY25 kr 787K
Character of growth · EPS growth decomposed (2013-2024) +20.9 % p.a.
Revenue per share +7.5 pp

of which total revenue +7.5 pp · buybacks/dilution +0.0 pp

EBIT margin +12.5 pp
Tax rate +0.3 pp
Residual (interest, one-offs) +0.6 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).

CONTX screens 78% overvalued. Compare with Veeva Systems Inc →

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Cite: Fair Value Calculator (2026). "ContextVision AB Fair Value". https://www.fairvalue-calculator.com/stock/CONTX

Peer Group

Health Information Services · 126 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 52 · Below median
Fair Value upside −78% · Bottom 25%
Return on equity (TTM) 5% · Above median
Return on assets 1% · Below median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 0% · Below median
Revenue growth 9% · Above median

Valuation Multiples vs Health Information Services median · lower = cheaper

P/E (TTM) 56.7× · Pricier than median
P/B 2.75× · Pricier than median
P/S (TTM) 2.33× · Pricier than median
P/FCF 131.7× · Pricier than 75% of peers
EV/EBITDA 39.2× · Pricier than 75% of peers
PEG 4.07× · Pricier than 75% of peers

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 · sector 0
FUTURE 46 · sector 33
PAST 21 · sector 8
HEALTH 0 · sector 98
DIVIDEND 0 · sector 35

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.

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 Health Information Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Veeva Systems Inc VEEV $190.12 $95.12 -50%
Pro Medicus Limited PME A$194.84 A$23.74 -88%
BrightSpring Health Services, Inc BTSG $68.16 $21.31 -69%
HealthEquity, Inc HQY $97.67 $56.63 -42%
Hinge Health, Inc HNGE $88.80 $24.03 -73%
10x Genomics, Inc TXG $45.75 $17.18 -62%
Waystar Holding WAY $22.69 $12.86 -43%
Doximity, Inc DOCS $22.21 $17.18 -23%
Privia Health Group PRVA $28.10 $5.30 -81%
Inventurus Knowledge Solutions Limited IKS ₹1,846 ₹860.28 -53%

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Frequently asked questions

Is ContextVision AB (CONTX) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of kr 0.7400 versus a price of kr 3.40, about −78% (overvalued).
What is the fair value of CONTX?
Our model-based fair value for ContextVision AB is kr 0.7400 (as of Jul 19, 2026), built from audited fundamentals. The current price is kr 3.40.
What is the quality score of CONTX?
ContextVision AB has a Quality Score of 52/100. 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 ContextVision AB (CONTX)?
ContextVision AB reported trailing-twelve-month revenue of about 109M NOK (latest available figure, as of Jul 19, 2026).
What is the net profit margin of CONTX?
The net profit margin of ContextVision AB is about 4.2%, meaning it keeps roughly 4.2% of revenue as net income. Based on the latest reported figures.

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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