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Desenio Group (DSNO) Fair Value & Analysis

Consumer Cyclical · SE · Market cap 233M SEK

DG Desenio Group DSNO · ST
Pricekr 0.0958
Fair Valuekr 0.1870
Upside+95.2%
Quality31/100
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Weak Growth
Loss-making · -37.1% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (6/12)
Narrow moat 18/100
Evidence: High Range kr 0.1437 – kr 0.2192 Share as image

Fair value as of: Jul 18, 2026

From 9 valuation models · updated 24 days ago

Share price +26.1% over the past month.

Below-average quality, screening 95% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (31/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (kr 0.1437). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

kr 102.80 kr 0.0510 Fair Value kr 0.1870 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range kr 0.0510 – kr 102.80 · fair‑value band kr 0.1437 – kr 0.2192 · the kr 0.0958 price screens below the kr 0.1870 fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Desenio Group (DSNO) currently trades at kr 0.0958, while our model-based Fair Value estimate is kr 0.1870, implying the stock looks roughly 95.2% undervalued today. The Quality Score stands at 31/100 (below-average quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Desenio Group generated revenue of 714M SEK at a net margin of -37.1%. Revenue declined 11.9% year over year. It earns a return on equity of -53.8%. The balance sheet holds a net cash position of 81.7M SEK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 0.1437 (bear case) to kr 0.2192 (bull case); at kr 0.0958, the current price sits below 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 44% below its 52-week high and 128% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -49% fair-value upside, at 95%, DSNO screens cheaper 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
Rev-Margin DCF kr 0.0400 kr 0.1100 74
EV/EBITDA kr 0.2700 kr 0.4000 kr 0.5300 54
EV/EBIT kr 0.1000 kr 0.1800 kr 0.2500 53
All 9 models by family
DCF Models
5Y Revenue Exit kr 0.0400 kr 0.1200 39
5Y EBITDA Exit kr 0.0900 kr 0.2100 kr 0.3800 41
10Y Revenue Exit kr 0.0300 36
10Y EBITDA Exit kr 0.0200 kr 0.0900 kr 0.1700 37
Multiples
EV/EBIT kr 0.1000 kr 0.1800 kr 0.2500 53
EV/EBITDA kr 0.2700 kr 0.4000 kr 0.5300 54
EV/Revenue kr 0.0300 kr 0.1000 kr 0.1600 43
Asset-Based
NCAV (Graham) kr 0.0800 kr 0.1100 kr 0.1700 50
Growth DCF
Rev-Margin DCF kr 0.0400 kr 0.1100 74

Widest divergence: Multiples (kr 0.1800) versus Growth DCF (kr 0.0400). Highest evidence: Rev-Margin DCF (74).

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Key figures & financial health

Revenue (TTM) 714M SEK
Revenue growth (YoY) -11.9%
Net margin -37.1%
Return on equity -53.8%
Free cash flow 18.3M SEK FY2025
Operating margin 7.7%
More key figures
EPS (TTM) kr -0.0900
EPS growth (YoY) -97.4%
Net cash 81.7M SEK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 31/100

Of which business quality 34 · Market factors (momentum, volatility) 28

Profitability 30
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 32
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.

About the company

Desenio Group AB (publ), an e-commerce company, provides wall art in Sweden, Germany, France, the Netherlands, Great Britain, rest of Europe, the United States, and internationally. The company offers various designs of posters, art prints, and frames, as well as accessories, such as mat boards, picture ledges, art clips, and phone covers.

Full company description

Desenio Group AB (publ), an e-commerce company, provides wall art in Sweden, Germany, France, the Netherlands, Great Britain, rest of Europe, the United States, and internationally. The company offers various designs of posters, art prints, and frames, as well as accessories, such as mat boards, picture ledges, art clips, and phone covers. Desenio Group AB (publ) was founded in 2008 and is based in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Desenio Group reported revenue of kr 738M in FY2025 versus kr 1.2B in FY2021, a compound −11.9%/yr. Reported net income was −kr 278M in FY2025.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
738M SEK
Latest YoY
−13.8%
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.
−8.5%
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.
−10.6%
Avg. growth/yr (6Y) 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.
+3.6%
Revenue −11.9%/yr
FY21 kr 1.2B
FY22 kr 965M
FY23 kr 967M
FY24 kr 856M
FY25 kr 738M
Net income
FY21 kr 57.2M
FY22 −kr 22.4M
FY23 −kr 284M
FY24 −kr 21.9M
FY25 −kr 278M

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Cite: Fair Value Calculator (2026). "Desenio Group Fair Value". https://www.fairvalue-calculator.com/stock/DSNO

Peer Group

Internet Retail · 109 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 +95% · Top 25%
Return on assets -11% · Bottom 25%
Net margin (TTM) -37% · Bottom 25%
Operating margin (TTM) 8% · Top 25%
Revenue growth -12% · Bottom 25%
Debt / equity 1.03× · Higher than 75% of peers

Valuation Multiples vs Internet Retail median · lower = cheaper

P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.03× · Cheaper than 75% of peers
P/FCF 1.3× · Cheaper than median
EV/EBITDA 2.0× · Cheaper 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 100 · sector 34
FUTURE 0 · sector 39
PAST 0 · sector 7
HEALTH 48 · sector 94
DIVIDEND 0 · sector 39

Insider activity: 45/100

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 Internet Retail stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Amazon.com, Inc AMZN $245.34 $127.67 -48%
Alibaba Group BABA $114.97 $75.75 -34%
PDD Holdings PDD $84.14 $223.51 +166%
MercadoLibre, Inc MELI $1,814 $798.98 -56%
DoorDash, Inc DASH $190.16 $38.64 -80%
Sea Limited SE $106.22 $52.70 -50%
eBay Inc EBAY $117.20 $60.13 -49%
JD.com, Inc JD €25.95 €31.88 +23%
Coupang, Inc CPNG $16.86 $2.79 -83%
Delivery Hero SE DHER €38.18 €12.71 -67%

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Frequently asked questions

Is Desenio Group (DSNO) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 0.1870 versus a price of kr 0.0958, about +95% (undervalued).
What is the fair value of DSNO?
Our model-based fair value for Desenio Group is kr 0.1870 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 0.0958.
What is the quality score of DSNO?
Desenio Group has a Quality Score of 31/100. 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 Desenio Group (DSNO)?
Desenio Group reported trailing-twelve-month revenue of about 714M SEK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of DSNO?
The net profit margin of Desenio Group is about -37.1%, 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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