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Cereno Scientific AB (CRNO-B) Fair Value & Analysis

Healthcare · SE · Market cap 1.4B SEK (≈ $151M)

What is Cereno Scientific AB really worth?

CS Cereno Scientific AB CRNO-B · ST
Pricekr 4.36
Fair Valuekr 0.4590
Upside−89.5%
Quality23/100

Below-average quality, and trading another 851% above our fair value of kr 0.4590.

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Risks

!Loss-making · -181.6% net margin
!Low debt · negative free cash flow
!Trails peers (2/10)
!Narrow moat 3/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range kr 0.3485 – kr 0.6885

Fair value as of: Jul 16, 2026

From 1 valuation models · updated 50 days ago

Share price −8.4% 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 0.6885). The favourable scenario is already priced in.
  • Weak quality (23/100) 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 0.3485 to kr 0.6885) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

kr 11.74 kr 0.4610 Fair Value kr 0.4590 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 0.4610 – kr 11.74 · fair‑value band kr 0.3485 – kr 0.6885 · the kr 4.36 price screens above the kr 0.4590 fair value. Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

Cereno Scientific AB (CRNO-B) currently trades at kr 4.36, while our model-based Fair Value estimate is kr 0.4590, implying the stock looks roughly 850.6% overvalued today. The Quality Score stands at 23/100 (below-average quality), in the Healthcare sector. How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Trailing-twelve-month revenue stands at 66.8M SEK. Revenue grew 137.3% year over year. It earns a return on equity of −61.3%. Net debt stands at 50.4M SEK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 0.3485 (bear case) to kr 0.6885 (bull case); at kr 4.36, 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 62% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at −89%, CRNO-B screens richer than that median.

Fair Value models

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.

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
NCAV (Graham) best evidence kr 0.4100 kr 0.5400 kr 0.8100 54
All 1 models by family
Asset-Based
NCAV (Graham) best evidence kr 0.4100 kr 0.5400 kr 0.8100 54

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Key figures & financial health

P/S ratio 21.6 TTM
EPS (TTM) kr −0.3800
Net margin −182% TTM
Return on equity −61.3% TTM
Return on assets (EBIT) −14.5% avg 5y
Operating margin −56.2% TTM
More key figures
Growth
Revenue (TTM) 66.8M SEK TTM
Revenue growth (YoY) +137%
Balance sheet & cash flow
Free cash flow −156M SEK FY2025
Net debt 50.4M SEK FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 23/100

Of which business quality 31 · Market factors (momentum, volatility) 23

Profitability 5
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 0
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.

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

Cereno Scientific AB (publ), a clinical stage biotechnology company, develops therapeutics to treat cardiovascular and pulmonary diseases in Sweden.

Full company description

Cereno Scientific AB (publ), a clinical stage biotechnology company, develops therapeutics to treat cardiovascular and pulmonary diseases in Sweden. The company's lead drug candidate is CS1, a HDACi, proprietary reformulation of VPA that is in phase II clinical trial for the treatment of rare disease pulmonary arterial hypertension, as well as a histone deacetylase (HDAC) inhibitor that acts as an epigenetic modulator for pathological vascular remodeling, fibrotic tissue remodeling, inflammatory processes, pulmonary arterial pressure, thrombotic mechanisms. Its drugs portfolio includes CS014, an epigenetic modulator that is in phase I clinical trial for the treatment of cardiovascular, pulmonary diseases, pulmonary hypertension, and idiopathic pulmonary fibrosis; and preclinical drug candidates comprises CS585, a selective prostacyclin (IP) receptor agonist for the treatment of rare thrombotic diseases. The company has a collaboration agreement with the University of Michigan for the preclinical development program of CS585 and CS014, are preclinical drug candidate for cardiovascular diseases; and Abbott for use of CardioMEMS HF System. Cereno Scientific AB (publ) was incorporated in 2012 and is headquartered in Gothenburg, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cereno Scientific AB reported revenue of 0 SEK in FY2025 versus 0 SEK in FY2021. Reported net income was −118M SEK in FY2025.

Revenue
FY21 0 SEK
FY22 0 SEK
FY23 0 SEK
FY24 0 SEK
FY25 0 SEK
Net income
FY21 −16.3M SEK
FY22 −27.7M SEK
FY23 −48.1M SEK
FY24 −99.5M SEK
FY25 −118M SEK

CRNO-B screens 851% overvalued. Compare with Merck KGaA →

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Cite: Fair Value Calculator (2026). "Cereno Scientific AB Fair Value". https://www.fairvalue-calculator.com/stock/CRNO-B

Peer Group

Drug Manufacturers - Specialty & Generic · 612 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 31 · Bottom 25%
Fair Value upside −90% · Bottom 25%
Return on assets −12% · Bottom 25%
Net margin (TTM) −182% · Bottom 25%
Operating margin (TTM) −56% · Bottom 25%
Revenue growth 137% · Top 25%
Debt / equity 0.50× · Higher than 75% of peers

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/B 0.60× · Cheaper than 75% of peers
P/S (TTM) 2.26× · Pricier than median

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 4
FUTURE100 · sector 22
PAST0 · sector 25
HEALTH75 · sector 97
DIVIDEND0 · sector 29

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

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €140.25 €106.48 −24%
Takeda Pharmaceutical Company TAK $18.03 $11.11 −38%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.76 ¥25.94 −52%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 −49%
Galderma Group GALD CHF 178.55 CHF 55.07 −69%
Haleon plc HLN $10.11 $7.64 −24%
Teva Pharmaceutical Industries Limited TEVA $36.05 $15.33 −57%
Sandoz Group SDZ CHF 70.66 CHF 39.21 −45%
Zoetis Inc ZTS $77.10 $104.88 +36%
Hansoh Pharmaceutical Group 3692 HK$35.12 HK$16.18 −54%

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Frequently asked questions

Is Cereno Scientific AB (CRNO-B) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 0.4590 versus a price of kr 4.36, about −89% upside (overvalued).
What is the fair value of CRNO-B?
Our model-based fair value for Cereno Scientific AB is kr 0.4590 (as of Jul 16, 2026), built from audited fundamentals. The current price: kr 4.36.
What is the quality score of CRNO-B?
Cereno Scientific AB has a Quality Score of 23/100. 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 Cereno Scientific AB (CRNO-B)?
Cereno Scientific AB reported trailing-twelve-month revenue of about 66.8M SEK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of CRNO-B?
The net profit margin of Cereno Scientific AB is about −181.6%, meaning it is currently running at a net loss. Based on the latest reported figures.
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