C-Rad AB (CRAD-B) Fair Value & Analysis
Healthcare · SE · Market cap 1.2B SEK (≈ $126M) · ISIN SE0002016352
What is C-Rad AB really worth?
A solid business, but trading 134% above our fair value of kr 15.50.
As of Sep 3, 2026, the fair value of C-Rad AB is kr 15.50 per share against a price of kr 36.30, so the fair value sits 57% below the price. A model estimate blended from multiple valuation models, recalculated regularly.
Strengths
Risks
For context
Fair value as of: Sep 3, 2026
From 24 valuation models · updated 2 days ago
Share price +2.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (kr 18.58). The favourable scenario is already priced in.
- The model range is unusually wide (kr 6.99 to kr 18.58). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (59/100) 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 Sep 3, 2026.
How to read this chart
60‑month range kr 24.82 – kr 66.50 · fair‑value band kr 6.99 – kr 18.58 · the kr 36.30 price screens above the kr 15.50 fair value. Dashed = 300-day average. As of Sep 3, 2026.
Analysis
C-Rad AB (CRAD-B) currently trades at kr 36.30, while our model-based Fair Value estimate is kr 15.50, implying the stock looks roughly 134.2% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Healthcare sector. Bull case: the Growth DCF group reads highest at a median of kr 36.12 per share, and 5 of the 24 models we run sit above the kr 36.30 price. Bear case: the Economic Profit group reads lowest at kr 6.97, and 19 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, C-Rad AB generated revenue of 428M SEK at a net margin of 7.0%. Revenue declined 11.9% year over year. It earns a return on equity of 8.8%. The balance sheet holds a net cash position of 152M SEK. Fundamentals as of Sep 3, 2026
Our scenario range runs from kr 6.99 (bear case) to kr 18.58 (bull case); at kr 36.30, 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 3% below its 52-week high and 48% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −34% fair-value upside, at −57%, CRAD-B screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 0.5300 per share, which is 3.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Growth DCF (kr 36.12) versus Economic Profit (kr 6.97). Highest evidence: FCF DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 62
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
C-Rad AB (publ) develops, manufactures, and sells products and systems with applications in radiotherapy for the treatment of cancer in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.
Full company description
C-Rad AB (publ) develops, manufactures, and sells products and systems with applications in radiotherapy for the treatment of cancer in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company offers Catalyst+ HD, a patient positioning, intra-fraction motion management, and respiratory gating solution for conventional and stereotactic treatment delivery; Catalyst+, a solution for patient set up and intra-fraction breath hold reproducibility; Catalyst+ PT, a surface image guided radiation therapy solution that supports proton therapy from simulation to treatment; Catalyst+ HD Ring Gantry solution for patient positioning, real-time motion monitoring, and respiratory gating; and Sentinel 4DCT, a laser-based optical surface scanning system. It also provides Catalyst, a 4D surface guided radiation therapy (SGRT) solution; Catalyst HD, a SGRT solution on stereotactic radiation therapy for online patient tracking before and during treatment delivery; and visual coaching solutions used for prospective and retrospective radiotherapy. In addition, the company offers cAutoVerify, an automation solution for the imaging suite and treatment room, automating patient identity validation, and accessory tracking. Further, it provides HIT1, HIT3, and HIT5 patient positioning laser, as well as laser positioning products and solutions. Additionally, the company offers support and training services; and service contracts. C-Rad AB (publ) was incorporated in 2004 and is headquartered in Uppsala, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
C-Rad AB reported revenue of 442M SEK in FY2025 versus 261M SEK in FY2021, a compound +14.1%/yr. Reported net income was 10.5M SEK in FY2025, compounding −19.6%/yr from FY2021.
CRAD-B screens 134% overvalued. Compare with Abbott Laboratories, →
Peer Group
Medical Devices · 352 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 Medical Devices median · lower = cheaper
Strength profile in five axes (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.
Similar stocks
10 more Medical Devices stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Abbott Laboratories, ABT | $112.47 | $74.79 | −34% |
| Stryker Corporation SYK | $322.12 | $186.28 | −42% |
| Medtronic plc MDT | $89.97 | $65.57 | −27% |
| Boston Scientific Corporation BSX | $46.84 | $30.73 | −34% |
| Edwards Lifesciences Corporation EW | $89.78 | $41.02 | −54% |
| Siemens Healthineers AG SHL | €39.52 | €33.87 | −14% |
| DexCom, Inc DXCM | $90.82 | $38.95 | −57% |
| GE HealthCare Technologies Inc GEHC | $74.82 | $64.13 | −14% |
| Koninklijke Philips N.V PHIA | €23.69 | €14.36 | −39% |
| Shenzhen Mindray Bio-Medical Electronics Co 300760 | ¥150.63 | ¥147.63 | −2% |
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