Formpipe Software AB (FPIP) Fair Value & Analysis
Information Technology · SE · Market cap 1.6B SEK
Fair value as of: Jul 17, 2026
From 22 valuation models · updated 24 days ago
Share price +0.3% over the past month.
A solid business, but screening 62% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 14.05). The favourable scenario is already priced in.
- Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
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 18.60 – kr 42.49 · fair‑value band kr 8.43 – kr 14.05 · the kr 29.90 price screens above the kr 11.24 fair value. Dashed = 300-day average. As of Jul 17, 2026.
Analysis
Formpipe Software AB (FPIP) currently trades at kr 29.90, while our model-based Fair Value estimate is kr 11.24, implying the stock looks roughly 62.4% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Information 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: high).
Trailing-twelve-month revenue stands at 243M SEK. Revenue declined 0.2% year over year. It earns a return on equity of -6.6%. The balance sheet holds a net cash position of 18.0M SEK. Fundamentals as of Jul 17, 2026
Our scenario range runs from kr 8.43 (bear case) to kr 14.05 (bull case); at kr 29.90, 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 4% below its 52-week high and 70% above its 52-week low, currently above its 200-day average.
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.
All 22 models by family
Widest divergence: Growth Earnings (kr 144.19) versus Earnings-Based (kr 1.76). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 59
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
Formpipe Software AB (publ) provides software and consulting services for capturing, managing, and distributing information in Sweden, Denmark, rest of Nordic countries, the United Kingdom, Germany, rest of Europe, North America, and internationally.
Full company description
Formpipe Software AB (publ) provides software and consulting services for capturing, managing, and distributing information in Sweden, Denmark, rest of Nordic countries, the United Kingdom, Germany, rest of Europe, North America, and internationally. The company offers products that are used to create, store, distribute, automate, relocate, archive, and manage information, data, and metadata. Its products include Lasernet that allows user to create and distribute documents for various ERP and bank; Autoform DM, a digital archive solution; Formpipe Cloud for document generation, delivery, and archiving through the cloud; Autoform DM for Dynamics 365; Lasernet for Business Central to create, manage, and distribute branded and formatted documentation; Lasernet for Document Input Management; Lasernet for Dynamics 365; Lasernet Vault365, a solution that supports data migration and Microsoft Dynamics 365 implementation; and X-docs, a SaaS-based quality management system solution. The company also provides Acarde, a case and document management platform; Adoxa, an application that automates scanning and deviation management; Long-Term Archive, a solution for long-term digital preservation; Meeting Management solutions; TAS for grants management platform; TAP, a business platform that supports and automates business processes; platform for document and cash management under the Platina and W3D3 names; Meetings Live to manage meetings; Meetings Plus, a digital meeting management solution; Portal Bas to design and publish e-services; Trustee Management solution; ATOM, a technical solution for municipalities' technical and environmental projects; and The Signing Portal, a solution for managing electronic signatures. It serves retail, manufacturing, banking, life sciences, and utilities, as well as municipalities and governments. Formpipe Software AB (publ) was incorporated in 2004 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Formpipe Software AB reported revenue of kr 242M in FY2025 versus kr 473M in FY2021, a compound −15.4%/yr. Reported net income was kr 495M in FY2025, compounding +77.0%/yr from FY2021.
of which total revenue +2.2 pp · buybacks/dilution −0.8 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).
FPIP screens 62% overvalued. Compare with SGA Co →
Peer Group
Information Technology · 3403 stocks
How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Application Software” was too small, so the broader sector is used.)
Valuation Multiples vs Information Technology median · lower = cheaper
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: the price sits above our fair-value range.
Insider activity: 42/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
2 more Application Software stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SGA Co 049470 | 1,460 KRW | 393.17 KRW | -73% |
| Cherry SE C3RY | €1.20 | €0.5300 | -56% |
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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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