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Episurf Medical AB (EPIS-B) Fair Value & Analysis

Healthcare · SE · Market cap 400M SEK (≈ $41.9M) · ISIN SE0003491562

What is Episurf Medical AB really worth?

EM Episurf Medical AB EPIS-B · ST
Pricekr 0.0745
Fair Valuekr 0.0425
Upside−43.0%
Quality25/100

Below-average quality, and trading another 75% above our fair value of kr 0.0425.

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Risks

!Expensive Growth (revenue 5y +22.0 %/yr)
!Thin margins · 0.0% net margin
!negative free cash flow
!Trails peers (3/8)
!Narrow moat 6/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range kr 0.0340 – kr 0.0510

Fair value as of: Jun 24, 2026

From 1 valuation models · updated 72 days ago

Share price +24.2% 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 0.0510). The favourable scenario is already priced in.
  • Weak quality (25/100) 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.

Price vs Fair Value (5 years)

kr 5.68 kr 0.0274 Fair Value kr 0.0425 Jun 2021 Sep 2026

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

How to read this chart

60‑month range kr 0.0274 – kr 5.68 · fair‑value band kr 0.0340 – kr 0.0510 · the kr 0.0745 price screens above the kr 0.0425 fair value. Dashed = 300-day average. As of Jun 24, 2026.

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Analysis

Episurf Medical AB (EPIS-B) currently trades at kr 0.0745, while our model-based Fair Value estimate is kr 0.0425, implying the stock looks roughly 75.3% overvalued today. The Quality Score stands at 25/100 (below-average quality), in the Healthcare sector. How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.

Trailing-twelve-month revenue stands at 20.2M SEK. Revenue declined 20.0% year over year. It earns a return on equity of −88.7%. Fundamentals as of Jun 24, 2026

Our scenario range runs from kr 0.0340 (bear case) to kr 0.0510 (bull case); at kr 0.0745, 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 204% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −34% fair-value upside, at −43%, EPIS-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) kr 0.0100 48
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.0100 48

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Key figures & financial health

P/S ratio 23.9 TTM
EPS (TTM) kr −0.0700
Net margin −288% TTM
Return on equity −88.7% TTM
Return on assets (EBIT) −67.1% avg 5y
Operating margin −290% TTM
More key figures
Growth
Revenue (TTM) 20.2M SEK TTM
Revenue growth (YoY) −20.0% 3y avg +26.9%
Balance sheet & cash flow
Free cash flow −62.0M SEK FY2025
Net cash 300K SEK FY2025

Figures from reported company fundamentals · as of Jun 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 25/100

Of which business quality 28 · Market factors (momentum, volatility) 53

Profitability 1
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 35
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 59
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

Episurf Medical AB (publ), a medical device company, designs and manufactures implants and surgical instruments in Germany, Sweden, rest of Europe, the United States, and internationally.

Full company description

Episurf Medical AB (publ), a medical device company, designs and manufactures implants and surgical instruments in Germany, Sweden, rest of Europe, the United States, and internationally. It provides Episealer Knee for repairing focal cartilage and bone defects to reduce pain and increase mobility in the patient's knee joint; Episealer implant, which is designed to fit anatomy and size of the lesion; Episealer toolkit; and Episealer Patellofemoral System, a system to treat osteoarthritis limited to the patellofemoral part of the knee joint. The company also offers Epioscopy to identify and visualize femoral knee joint cartilage and bone lesions, and tibia, as well as defects on the cruciate ligaments and menisci; Epiguide, a surgical drill guide; and µiFidelity, a web platform for order management, communication, personalized design, and surgical pre-planning. In addition, it is developing Episealer MTP implant, an implant for the MTP joint of the big toe in the foot. Further, the company offers Talus Osteotomy Guide (TOG) that is designed to fit on the patient's distal tibia using CT and MRI images; MRI protocol to ensure correct damage assessment, 3D visualization, and device design; and Damage Marking Report (DMR) that enables 3D visualization of damage in the joint surface and underlaying bone defects, as well as other findings relevant when selecting the right treatment for the patient. The company was formerly known as Diamorph Medtech AB and changed its name to Episurf Medical AB (publ) in 2010. Episurf Medical AB (publ) was incorporated 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

Episurf Medical AB reported revenue of 13.5M SEK in FY2025 versus 6.5M SEK in FY2021, a compound +20.0%/yr. Reported net income was −58.2M SEK in FY2025.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
13.5M SEK
Latest YoY
+3.8%
Avg. revenue 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.
+26.9%
Avg. revenue 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.
+22.0%
Avg. revenue growth/yr (12Y) 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.
+63.2%
Value creation/yr 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
Revenue +20.0%/yr
FY21 6.5M SEK
FY22 6.6M SEK
FY23 10.3M SEK
FY24 13.0M SEK
FY25 13.5M SEK
Net income
FY21 −69.5M SEK
FY22 −77.3M SEK
FY23 −94.8M SEK
FY24 −76.0M SEK
FY25 −58.2M SEK

EPIS-B screens 75% overvalued. Compare with Abbott Laboratories, →

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Cite: Fair Value Calculator (2026). "Episurf Medical AB Fair Value". https://www.fairvalue-calculator.com/stock/EPIS-B

Peer Group

Medical Devices · 352 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 28 · Bottom 25%
Fair Value upside −43% · Below median
Return on assets −13% · Bottom 25%
Net margin (TTM) 0% · Below median
Revenue growth 236% · Top 25%

Valuation Multiples vs Medical Devices median · lower = cheaper

P/B 0.88× · Cheaper than median
P/S (TTM) 1.60× · Cheaper 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 0
FUTURE100 · sector 32
PAST0 · sector 5
HEALTH0 · sector 97
DIVIDEND0 · sector 35

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 Medical Devices stocks, each showing price versus our Fair Value estimate (as of Jun 24, 2026).

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $112.47 $74.79 −34%
Stryker Corporation SYK $322.12 $186.28 −42%
Medtronic plc MDT $89.97 $65.57 −27%
Boston Scientific Corporation BSX $46.84 $30.73 −34%
Edwards Lifesciences Corporation EW $89.78 $41.02 −54%
Siemens Healthineers AG SHL €39.52 €33.87 −14%
DexCom, Inc DXCM $90.82 $38.95 −57%
GE HealthCare Technologies Inc GEHC $74.82 $64.13 −14%
Koninklijke Philips N.V PHIA €23.69 €14.36 −39%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥150.63 ¥147.63 −2%

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Frequently asked questions

Is Episurf Medical AB (EPIS-B) overvalued or undervalued?
As of Jun 24, 2026, our model estimates a fair value of kr 0.0425 versus a price of kr 0.0745, about −43% upside (overvalued).
What is the fair value of EPIS-B?
Our model-based fair value for Episurf Medical AB is kr 0.0425 (as of Jun 24, 2026), built from audited fundamentals. The current price: kr 0.0745.
What is the quality score of EPIS-B?
Episurf Medical AB has a Quality Score of 25/100. 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 Episurf Medical AB (EPIS-B)?
Episurf Medical AB reported trailing-twelve-month revenue of about 20.2M SEK (latest available figure, as of Jun 24, 2026).
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