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Freemelt Holding (FREEM) Fair Value & Analysis

Industrials · SE · Market cap 330M SEK

FH Freemelt Holding FREEM · ST
Pricekr 1.48
Fair Valuekr 0.1785
Upside-87.9%
Quality35/100
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Mixed Growth
Loss-making · -125.4% net margin
negative free cash flow
Trails peers (3/8)
Narrow moat 9/100
Evidence: Low Range kr 0.1190 – kr 0.2295 Share as image

Fair value as of: Jul 12, 2026

From 1 valuation models · updated 29 days ago

Share price −15.4% over the past month.

Below-average quality, and screening another 88% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 0.2295). The favourable scenario is already priced in.
  • Weak quality (35/100) 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 0.1190 to kr 0.2295) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 27.27 kr 0.5350 Fair Value kr 0.1785 Jul 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range kr 0.5350 – kr 27.27 · fair‑value band kr 0.1190 – kr 0.2295 · the kr 1.48 price screens above the kr 0.1785 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Freemelt Holding (FREEM) currently trades at kr 1.48, while our model-based Fair Value estimate is kr 0.1785, implying the stock looks roughly 87.9% overvalued today. The Quality Score stands at 35/100 (below-average quality), in the Industrials 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: low).

Trailing-twelve-month revenue stands at 74.7M SEK. Revenue grew 51.6% year over year. It earns a return on equity of -44.7%. The balance sheet holds a net cash position of 32.1M SEK. Fundamentals as of Jul 12, 2026

Our scenario range runs from kr 0.1190 (bear case) to kr 0.2295 (bull case); at kr 1.48, 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 56% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -88%, FREEM 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
NCAV (Graham) kr 0.5000 kr 0.6700 kr 1.00 50
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.5000 kr 0.6700 kr 1.00 50

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Key figures & financial health

Revenue (TTM) 74.7M SEK
Revenue growth (YoY) +51.6%
Net margin -125%
Return on equity -44.7%
Free cash flow −39.2M SEK FY2025
Operating margin -263%
More key figures
EPS (TTM) kr -0.4600
Net cash 32.1M SEK FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 37 · Market factors (momentum, volatility) 31

Profitability 2
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 7
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

Freemelt Holding AB (publ) engages in the metal 3D-printing business in Europe and North America. The company provides asset condition monitoring, connected machine insight, remote support, asset maintenance, and asset management services.

Full company description

Freemelt Holding AB (publ) engages in the metal 3D-printing business in Europe and North America. The company provides asset condition monitoring, connected machine insight, remote support, asset maintenance, and asset management services. It also offers Pixelmelt, a software for metal 3D printing; open source platform; e"MELT, a printer for industrial production; and Freemelt ONE, a printer for research institutes and universities for feasibility studies. Freemelt Holding AB (publ) was incorporated in 2017 and is headquartered in Gothenburg, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Freemelt Holding reported revenue of kr 54.5M in FY2025 versus kr 302K in FY2021, a compound +266.6%/yr. Reported net income was −kr 91.2M in FY2025.

Growth Quality 36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
54.5M SEK
Latest YoY
+172.4%
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.
+13.5%
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.
+53.5%
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.
+31.5%
Revenue +266.6%/yr
FY21 kr 302K
FY22 kr 37.3M
FY23 kr 22.3M
FY24 kr 20.0M
FY25 kr 54.5M
Net income
FY21 −kr 24.0M
FY22 −kr 67.6M
FY23 −kr 82.9M
FY24 −kr 90.0M
FY25 −kr 91.2M

FREEM screens 88% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Freemelt Holding Fair Value". https://www.fairvalue-calculator.com/stock/FREEM

Peer Group

Specialty Industrial Machinery · 808 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 37 · Bottom 25%
Fair Value upside −88% · Bottom 25%
Return on assets -25% · Bottom 25%
Net margin (TTM) -125% · Bottom 25%
Revenue growth 52% · Top 25%

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/B 0.18× · Cheaper than 75% of peers
P/S (TTM) 0.47× · 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 0 · sector 0
FUTURE 100 · sector 23
PAST 0 · sector 28
HEALTH 0 · sector 96
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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Freemelt Holding (FREEM) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 0.1785 versus a price of kr 1.48, about −88% (overvalued).
What is the fair value of FREEM?
Our model-based fair value for Freemelt Holding is kr 0.1785 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 1.48.
What is the quality score of FREEM?
Freemelt Holding has a Quality Score of 35/100. 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 Freemelt Holding (FREEM)?
Freemelt Holding reported trailing-twelve-month revenue of about 74.7M SEK (latest available figure, as of Jul 12, 2026).
What is the net profit margin of FREEM?
The net profit margin of Freemelt Holding is about -125.4%, 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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