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EmbeddedArt Group (EMART) Fair Value & Analysis

Technology · SE · Market cap 251M SEK

EG EmbeddedArt Group EMART · ST
Pricekr 6.68
Fair Valuekr 0.8500
Upside-87.3%
Quality48/100
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Expensive Growth
Thin margins · 2.1% net margin
Low debt · negative free cash flow
Trails peers (1/11)
Narrow moat 27/100
Evidence: Medium Range kr 0.6400 – kr 1.07 Share as image

Fair value as of: Jul 17, 2026

From 13 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from kr 0.9200 to kr 0.8500 (−7.6%) since Jul 15, 2026. Share price −1.8% over the past month.

Below-average quality, and screening another 87% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 1.07). The favourable scenario is already priced in.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 47.00 kr 0.0309 Fair Value kr 0.8500 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range kr 0.0309 – kr 47.00 · fair‑value band kr 0.6400 – kr 1.07 · the kr 6.68 price screens above the kr 0.8500 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

EmbeddedArt Group (EMART) currently trades at kr 6.68, while our model-based Fair Value estimate is kr 0.8500, implying the stock looks roughly 87.3% overvalued today. The Quality Score stands at 48/100 (below-average 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: medium).

Over the trailing twelve months, EmbeddedArt Group generated revenue of 50.4M SEK at a net margin of 2.1%. Revenue declined 28.9% year over year. It earns a return on equity of 9.6%. Net debt stands at 5.2M SEK. Fundamentals as of Jul 17, 2026

Our scenario range runs from kr 0.6400 (bear case) to kr 1.07 (bull case); at kr 6.68, 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 74% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -45% fair-value upside, at -87%, EMART 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 0.5300 kr 0.5300 kr 0.5000 76
ROIC Compounder kr 0.4600 kr 0.4600 kr 0.4700 72
Growth-Adj P/E kr 1.78 kr 2.54 kr 3.30 68
All 13 models by family
Earnings-Based
Graham-Dodd kr 0.3400 kr 2.38 kr 3.35 54
Lynch FV kr 1.23 kr 1.76 kr 2.29 50
PEG = 1.0 kr 1.23 kr 1.76 kr 2.29 46
EPV kr 0.4600 kr 0.4600 kr 0.4700 59
Multiples
P/E Multiple kr 1.06 kr 1.41 kr 1.76 63
P/S Multiple kr 0.6400 kr 0.8500 kr 1.07 58
P/B Multiple kr 0.6400 kr 0.8500 kr 1.07 55
EV/EBIT kr 0.5400 kr 0.5800 kr 0.6100 53
EV/Revenue kr 0.4800 kr 0.5100 kr 0.5300 43
Asset-Based
NCAV (Graham) kr 0.3600 kr 0.4900 kr 0.7300 50
Economic Profit
Residual Income kr 0.5300 kr 0.5300 kr 0.5000 76
ROIC Compounder kr 0.4600 kr 0.4600 kr 0.4700 72
Growth Earnings
Growth-Adj P/E kr 1.78 kr 2.54 kr 3.30 68

Widest divergence: Growth Earnings (kr 2.54) versus Economic Profit (kr 0.4600). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 50.4M SEK
Revenue growth (YoY) -28.9%
Net margin 2.1%
Return on equity 9.6%
Free cash flow −4.2M SEK FY2025
P/E ratio 168.6
More key figures
Operating margin -5.3%
EPS (TTM) kr 0.0700
Net debt 5.2M SEK FY2023

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 48 · Market factors (momentum, volatility) 18

Profitability 58
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 27
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 23
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

EmbeddedArt Group AB (publ) conducts research, development, training, and consulting within defense security systems and the IT sector, as well as related activities in Sweden.

Full company description

EmbeddedArt Group AB (publ) conducts research, development, training, and consulting within defense security systems and the IT sector, as well as related activities in Sweden. The company develops sonar and UV sensor systems; ship technology on naval vessels; administration, integrated logistic support, and IT-security and system safety; communication systems; as well as project management, maintenance, and verification and validation services. It also offers underwater technology, including hydroacoustics, sensors systems, and electronics. In addition, it provides IoT platforms and commercial applications, including boat alarms, trackers, and intelligent devices for boats under the brand C-Pod, as well as provides trackers for general use under the brand Spara. The company was formerly known as C Security Systems AB (publ) and changed its name to EmbeddedArt Group AB (publ) in April 2024. EmbeddedArt Group AB (publ) was incorporated in 2011 and is based in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

EmbeddedArt Group reported revenue of kr 50.4M in FY2025 versus kr 2.2M in FY2021, a compound +119.6%/yr. Reported net income was kr 1.1M in FY2025.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
50.4M SEK
Latest YoY
+1.2%
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.
+196.2%
Revenue +119.6%/yr
FY21 kr 2.2M
FY22 kr 1.9M
FY23 kr 38.9M
FY24 kr 49.8M
FY25 kr 50.4M
Net income
FY21 −kr 17.9M
FY22 −kr 19.6M
FY23 kr 1.6M
FY24 −kr 10.1M
FY25 kr 1.1M

EMART screens 87% overvalued. Compare with Keysight Technologies, Inc →

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

Peer Group

Scientific & Technical Instruments · 161 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 48 · Below median
Fair Value upside −87% · Bottom 25%
Return on equity (TTM) 10% · Above median
Return on assets 0% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) -5% · Bottom 25%
Revenue growth -29% · Bottom 25%
Debt / equity 0.05× · Higher than median

Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper

P/E (TTM) 168.6× · Pricier than 75% of peers
P/B 16.22× · Pricier than 75% of peers
P/S (TTM) 4.99× · Pricier than median

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 0 · sector 34
PAST 38 · sector 25
HEALTH 98 · sector 98
DIVIDEND 0 · sector 24

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 Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Keysight Technologies, Inc KEYS $315.90 $84.16 -73%
Garmin Ltd GRMN $241.76 $146.67 -39%
Teledyne Technologies Incorporated TDY $635.52 $367.58 -42%
Chroma ATE Inc 2360 1,905 TWD 286.15 TWD -85%
Hexagon AB HEXAB kr 80.10 kr 52.93 -34%
MKS Inc MKSI $324.69 $77.46 -76%
AVIC Chengdu Aircraft Company 302132 ¥52.91 ¥34.47 -35%
Fortive Corporation FTV $61.78 $33.84 -45%
Trimble Inc TRMB $52.72 $24.47 -54%
Cognex Corporation CGNX $64.07 $13.75 -79%

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Frequently asked questions

Is EmbeddedArt Group (EMART) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of kr 0.8500 versus a price of kr 6.68, about −87% (overvalued).
What is the fair value of EMART?
Our model-based fair value for EmbeddedArt Group is kr 0.8500 (as of Jul 17, 2026), built from audited fundamentals. The current price is kr 6.68.
What is the quality score of EMART?
EmbeddedArt Group has a Quality Score of 48/100. 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 EmbeddedArt Group (EMART)?
EmbeddedArt Group reported trailing-twelve-month revenue of about 50.4M SEK (latest available figure, as of Jul 17, 2026).
What is the net profit margin of EMART?
The net profit margin of EmbeddedArt Group is about 2.1%, meaning it keeps roughly 2.1% 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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