Invoicery Group (FRILAN) Fair Value & Analysis
Financial Services · SE · Market cap 202M SEK
Fair value as of: Jul 17, 2026
From 11 valuation models · updated 24 days ago
Share price −2.8% over the past month.
A solid business, screening 41% undervalued on our models.
What matters now
- The price is below even our cautious bear case (kr 7.39). The market is more pessimistic than our downside scenario.
- Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (4 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
44‑month range kr 2.79 – kr 7.45 · fair‑value band kr 7.39 – kr 12.84 · the kr 7.00 price screens below the kr 9.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
Analysis
Invoicery Group (FRILAN) currently trades at kr 7.00, while our model-based Fair Value estimate is kr 9.85, implying the stock looks roughly 40.7% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Invoicery Group generated revenue of 1.9B SEK at a net margin of 0.8%. Revenue grew 9.7% year over year. It earns a return on equity of 24.3%. The stock trades on a trailing P/E of 9.8. Fundamentals as of Jul 17, 2026
Our scenario range runs from kr 7.39 (bear case) to kr 12.84 (bull case); at kr 7.00, the current price sits below 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 10% below its 52-week high and 81% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -61% fair-value upside, at 41%, FRILAN screens cheaper 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.
All 11 models by family
Widest divergence: Growth DCF (kr 16.81) versus Asset-Based (kr 1.46). Highest evidence: Residual Income (76).
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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 64 · Market factors (momentum, volatility) 67
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
Invoicery Group AB (publ) engages in self-employment and work management business in Sweden, Norway, Finland, Denmark and France. The company also offers temporary hiring service to corporate customers; and creates tools for independent work. It operates under Frilans Finans, Invoicery, and Invoicery Business brands.
Full company description
Invoicery Group AB (publ) engages in self-employment and work management business in Sweden, Norway, Finland, Denmark and France. The company also offers temporary hiring service to corporate customers; and creates tools for independent work. It operates under Frilans Finans, Invoicery, and Invoicery Business brands. Invoicery Group AB (publ) was incorporated in 2014 and is based in Uppsala, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2025 · reported fiscal years
Invoicery Group reported revenue of kr 1.9B in FY2025 versus kr 1.7B in FY2022, a compound +4.7%/yr. Reported net income was kr 14.3M in FY2025, compounding +24.0%/yr from FY2022.
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Peer Group
Shell Companies · 70 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.
Valuation Multiples vs Shell Companies 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.
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
10 more Shell Companies stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| The Coca-Cola Company COLA | C$27.96 | C$10.91 | -61% |
| Lionheart III Corp LION | $13.47 | $18.15 | +35% |
| Agriculture & Natural Solutions Acquisition Corporation ANSC | $11.45 | $4.13 | -64% |
| AA Mission Acquisition Corp AAM | $0.0320 | $0.0314 | -2% |
| GP-Act III Acquisition Corp GPAT | $10.91 | $4.30 | -61% |
| Berto Acquisition Corp TACO | $10.48 | $2.73 | -74% |
| Axiom Intelligence Acquisition Corp AXIN | $10.29 | $1.46 | -86% |
| Bold Eagle Acquisition Corp BEAG | $10.67 | $4.00 | -63% |
| Lionheart Holdings CUB | $10.80 | $5.06 | -53% |
| Graf Global Corp GRAF | $10.82 | $3.63 | -66% |
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Frequently asked questions
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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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