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Enzymatica publ AB (ENZY) fair value: what the stock is really worth

As of Sep 22, 2026: fair value of Enzymatica publ AB SEK 0.16, price SEK 1.70, upside -90.5%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · SE · ISIN SE0003943620

EP Thin data Sep 24, 2026

Enzymatica publ AB

ENZY · ST

Weakest SetupStrongly overvalued and low quality.

!Fair value kr 0.1615 · Strongly overvalued (−91%)
!Quality 40/100
!Weak Growth (revenue 5y −13.5 %/yr)
!Loss-making · -89.2% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (3/10)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 11.44 kr 1.36 Fair Value kr 0.1615 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range kr 1.36 – kr 11.44 · fair‑value band kr 0.1105 – kr 0.2040 · the kr 1.70 price screens above the kr 0.1615 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Enzymatica AB (publ), a life science company, develops and sells medical devices for infection-related diseases. The company's product includes ColdZyme, a mouth spray that protects against the upper respiratory viruses that can cause cold and flu symptoms. It also provides enzyme formulations for skin care.

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Enzymatica AB (publ), a life science company, develops and sells medical devices for infection-related diseases. The company's product includes ColdZyme, a mouth spray that protects against the upper respiratory viruses that can cause cold and flu symptoms. It also provides enzyme formulations for skin care. The company was incorporated in 2007 and is headquartered in Lund, Sweden.

Stock analysis

Enzymatica publ AB (ENZY) currently trades at kr 1.70, while our model-based Fair Value estimate is kr 0.1615, implying the stock looks roughly 952.6% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: kr 0.1105 (bear) to kr 0.2040 (bull), the price of kr 1.70 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 40/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Enzymatica publ AB reported revenue of 53.9M SEK in FY2025 versus 57.2M SEK in FY2021, a compound −1.5%/yr. Reported net income was −51.9M SEK in FY2025.

Key figures

Market cap 512M SEK (≈ $51.8M) · P/S ratio 12.9 · EPS (TTM) kr −0.2000 · Net margin −96.3% · Return on equity −35.2% · Return on assets (EBIT) −33.9% · Operating margin −119% · Revenue (TTM) 53.1M SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 50% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at −91%, ENZY screens richer than that median.

Fair Value models

Bear kr 0.1105 Fair Value kr 0.1615 Bull kr 0.2040
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) kr 0.2600 kr 0.3400 kr 0.5100 54
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.2600 kr 0.3400 kr 0.5100 54

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Quality Score breakdown

Overall quality 40/100

Of which business quality 42 · Market factors (momentum, volatility) 21

Profitability 13
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 6/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+18.3%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−13.5%
Start year 2020 (pandemic). Over 10 years: +6.8% a year
Revenue growth 18 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+28.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−10.8% (2020) → −96.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

ENZY screens 953% overvalued. Compare with Merck KGaA →

Compare Enzymatica publ AB with another stock

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Peer Groupⓘ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.Drug Manufacturers - Specialty & Generic · 614 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Below median
Fair Value upside −91% · Bottom 25%
Profitability
Return on assets −19% · Bottom 25%
Net margin (TTM) −89% · Bottom 25%
Operating margin (TTM) −119% · Bottom 25%
Growth and dividend
Revenue growth −7% · Below median

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

P/B 0.42× · Cheapest 25%
P/S (TTM) 0.98× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 12
FUTURE (revenue growth)0 · sector 21
PAST (return on equity)0 · sector 25
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)0 · sector 30

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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.

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €133.15 €108.70 −18%
Takeda Pharmaceutical Company TAK $18.95 $11.29 −40%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥45.72 ¥50.29 +10%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,846 ₹1,979 +7%
Galderma Group GALD CHF 163.80 CHF 109.88 −33%
Haleon plc HLN $9.25 $8.50 −8%
Teva Pharmaceutical Industries Limited TEVA $39.52 $20.75 −47%
Sandoz Group SDZ CHF 70.76 CHF 40.16 −43%
Zoetis Inc ZTS $72.86 $108.48 +49%
Hansoh Pharmaceutical Group 3692 HK$35.34 HK$38.87 +10%

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Enzymatica publ AB · Fair Value
kr 0.1615 −953%Fair Value
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Cite: Fair Value Calculator (2026). "Enzymatica publ AB Fair Value". https://www.fairvalue-calculator.com/stock/ENZY

Frequently asked questions

Is Enzymatica publ AB (ENZY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 0.1615 versus a price of kr 1.70, about −91% upside (overvalued).
What is the fair value of ENZY?
Our model-based fair value for Enzymatica publ AB is kr 0.1615 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 1.70.
What is the quality score of ENZY?
Enzymatica publ AB has a Quality Score of 40/100. 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 price target for Enzymatica publ AB (ENZY)?
Our model-based price target is the fair value of kr 0.1615 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario kr 0.1105, optimistic scenario kr 0.2040. It is a calculation from audited fundamentals, not an analyst target.
What is the Enzymatica publ AB stock forecast for 2026?
Our models put fair value at kr 0.1615, about −91% upside versus a price of kr 1.70 (overvalued). Cautious scenario kr 0.1105, optimistic scenario kr 0.2040. The calculation is refreshed regularly with new filings.
What is the revenue of Enzymatica publ AB (ENZY)?
Enzymatica publ AB reported trailing-twelve-month revenue of about 53.1M SEK (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Enzymatica publ AB (ENZY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Enzymatica publ AB it is kr 0.1615 per share (as of Sep 24, 2026), against a price of kr 1.70. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Enzymatica publ AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ENZY trades above its calculated fair value: price kr 1.70, fair value kr 0.1615, a gap of about −91% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ENZY?
No. The price is what the market pays today (kr 1.70); the fair value is what the company's own numbers justify (kr 0.1615). For Enzymatica publ AB the two are kr 1.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Enzymatica publ AB worth?
The market values Enzymatica publ AB at about 512M SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 1.70; our models calculate a fair value of kr 0.1615 per share.
What do the bullish and bearish scenarios say about ENZY?
Our models span a range for Enzymatica publ AB: cautious scenario kr 0.1105, base kr 0.1615, optimistic kr 0.2040 per share (as of Sep 24, 2026, price kr 1.70). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Enzymatica publ AB (ENZY)?
Balance-sheet figures for Enzymatica publ AB (as of Sep 24, 2026): return on equity −35.2%. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is ENZY from its 52-week high?
Enzymatica publ AB trades at kr 1.70, about 50% below its 52-week high of kr 3.40 and 6% above the low of kr 1.60 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.1615 is for.
Which stocks are comparable to Enzymatica publ AB?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, Sun Pharmaceutical Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Enzymatica publ AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 1.70, calculated fair value kr 0.1615 (−91%), Quality Score 40/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ENZY calculated?
We run Enzymatica publ AB through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 0.1615, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Enzymatica publ AB itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Enzymatica publ AB (ENZY)?
The closing price on Sep 22, 2026 was kr 1.70. Our model-based fair value is kr 0.1615, about −91% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Enzymatica publ AB right now?
The price sits above even our optimistic bull case (kr 0.2040). The favourable scenario is already priced in. Weak quality (40/100) 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 0.1105 to kr 0.2040) leaves room in how you read the outcome.

Key figures of Enzymatica publ AB

How large is the market capitalisation of Enzymatica publ AB (ENZY)?
The market capitalisation of Enzymatica publ AB is 512M SEK (≈ $51.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Enzymatica publ AB (ENZY)?
The price-to-sales ratio of Enzymatica publ AB is 12.9 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Enzymatica publ AB (ENZY)?
Earnings per share at Enzymatica publ AB are kr −0.2000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Enzymatica publ AB (ENZY)?
The net margin of Enzymatica publ AB is −96.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Enzymatica publ AB (ENZY)?
The return on equity (ROE) of Enzymatica publ AB is −35.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Enzymatica publ AB (ENZY)?
On an EBIT basis the return on assets of Enzymatica publ AB is −33.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Enzymatica publ AB (ENZY)?
The operating margin of Enzymatica publ AB is −119% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Enzymatica publ AB (ENZY)?
Revenue at Enzymatica publ AB is growing −6.8% versus a year earlier (3y avg +3.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Enzymatica publ AB (ENZY) generate?
The free cash flow of Enzymatica publ AB is −41.2M SEK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Enzymatica publ AB (ENZY) hold?
Enzymatica publ AB holds more cash than debt, 32.1M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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