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Diadrom Holding (DIAH) Fair Value & Analysis

Technology · SE · Market cap 28.7M SEK

DH Diadrom Holding DIAH · ST
Pricekr 2.69
Fair Valuekr 0.6400
Upside-76.2%
Quality52/100
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Expensive Growth
Loss-making · -5.2% net margin
negative free cash flow
Trails peers (2/9)
Narrow moat 10/100
Evidence: Low Range kr 0.4200 – kr 0.8000 Share as image

Fair value as of: Jul 15, 2026

From 1 valuation models · updated 26 days ago

Fair value updated Jul 15, 2026, revised from kr 2.36 to kr 0.6400 (−72.9%) since Jun 24, 2026. Share price +8.5% over the past month.

A solid business, but screening 76% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 0.8000). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 0.4200 to kr 0.8000) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 15.37 kr 1.39 Fair Value kr 0.6400 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range kr 1.39 – kr 15.37 · fair‑value band kr 0.4200 – kr 0.8000 · the kr 2.69 price screens above the kr 0.6400 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Diadrom Holding (DIAH) currently trades at kr 2.69, while our model-based Fair Value estimate is kr 0.6400, implying the stock looks roughly 76.2% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Technology 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: low).

Over the trailing twelve months, Diadrom Holding generated revenue of 50.5M SEK at a net margin of -5.2%. Revenue declined 30.4% year over year. It earns a return on equity of -29.4%. The balance sheet holds a net cash position of 8.3M SEK. Fundamentals as of Jul 15, 2026

Our scenario range runs from kr 0.4200 (bear case) to kr 0.8000 (bull case); at kr 2.69, 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 65% below its 52-week high and 96% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -76%, DIAH 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
NCAV (Graham) kr 0.3900 kr 0.5300 kr 0.7900 50
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.3900 kr 0.5300 kr 0.7900 50

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Key figures & financial health

Revenue (TTM) 50.5M SEK
Revenue growth (YoY) -30.4%
Net margin -5.2%
Return on equity -29.4%
Free cash flow −6.1M SEK FY2025
Operating margin -7.8%
More key figures
EPS (TTM) kr -0.5900
EPS growth (YoY) -86.3%
Net cash 8.3M SEK FY2024

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 54 · Market factors (momentum, volatility) 32

Profitability 40
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 73
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

Diadrom Holding AB (publ), a solutions and software company, engages in the diagnostics of autotech products with embedded software in Sweden, Germany, and the Netherlands.

Full company description

Diadrom Holding AB (publ), a solutions and software company, engages in the diagnostics of autotech products with embedded software in Sweden, Germany, and the Netherlands. The company offers Autotech Bootloader, a stand-alone bootloader; Encrypt, an embedded software component that implements customer specific cyber security concepts; Diag Com Stack, an embedded software component designed to handle the on-board communication of ECUs together with basic diagnostics in a modern vehicle; Dolphin, a software system and verification tool for automated testing; and Diag Studio, an off-board diagnostics system product suit. It also provides consultancy; research and development, manufacturing, aftermarket, auto defense, academy, autotech, enablers, partner network, and diagnostics ecosystem solutions; and customer on-site, fixed-price projects, and maintenance services. The company serves the automotive, medtech, industrial machinery, defense, security, and public transport sectors. Diadrom Holding AB (publ) was founded in 1999 and is headquartered in Gothenburg, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Diadrom Holding reported revenue of kr 46.7M in FY2025 versus kr 53.1M in FY2021, a compound −3.1%/yr. Reported net income was −kr 3.0M in FY2025.

Growth Quality 14/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
46.7M SEK
Latest YoY
−27.9%
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.
−12.9%
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.
+3.8%
Avg. growth/yr (20Y) 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.
−1.5%
Revenue −3.1%/yr
FY21 kr 53.1M
FY22 kr 70.8M
FY23 kr 78.8M
FY24 kr 64.7M
FY25 kr 46.7M
Net income
FY21 kr 7.2M
FY22 kr 10.0M
FY23 kr 6.8M
FY24 −kr 2.9M
FY25 −kr 3.0M
Character of growth · EPS growth decomposed (2012-2023) +0.4 % p.a.
Revenue per share +2.9 pp

of which total revenue +2.2 pp · buybacks/dilution +0.7 pp

EBIT margin −2.8 pp
Tax rate +0.3 pp
Residual (interest, one-offs) +0.0 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).

DIAH screens 76% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "Diadrom Holding Fair Value". https://www.fairvalue-calculator.com/stock/DIAH

Peer Group

Software - Application · 709 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 54 · Below median
Fair Value upside −76% · Bottom 25%
Return on assets -8% · Bottom 25%
Net margin (TTM) -5% · Below median
Operating margin (TTM) -8% · Below median
Revenue growth -30% · Bottom 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/B 0.53× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Diadrom Holding (DIAH) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of kr 0.6400 versus a price of kr 2.69, about −76% (overvalued).
What is the fair value of DIAH?
Our model-based fair value for Diadrom Holding is kr 0.6400 (as of Jul 15, 2026), built from audited fundamentals. The current price is kr 2.69.
What is the quality score of DIAH?
Diadrom Holding 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 Diadrom Holding (DIAH)?
Diadrom Holding reported trailing-twelve-month revenue of about 50.5M SEK (latest available figure, as of Jul 15, 2026).
What is the net profit margin of DIAH?
The net profit margin of Diadrom Holding is about -5.2%, meaning it is currently running at a net loss. 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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