Gapwaves AB (GAPW-B) Fair Value & Analysis
Technology · SE · Market cap 603M SEK
Fair value as of: Jul 17, 2026
From 1 valuation models · updated 5 days ago
Share price −22.0% over the past month.
Price vs Fair Value (12 months)
12‑month range kr 10.00 – kr 29.25 · fair‑value band kr 1.78 – kr 3.37 · the kr 13.60 price screens above the kr 2.70 fair value. As of Jul 17, 2026.
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Gapwaves AB (GAPW-B) currently trades at kr 13.60, while our model-based Fair Value estimate is kr 2.70, implying the stock looks roughly 80.2% overvalued today. We read business quality at 46/100 (below-average quality), in the 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: low).
Over the trailing twelve months, Gapwaves AB generated revenue of 89.1M SEK at a net margin of -70.1%. Revenue declined 17.4% year over year. It earns a return on equity of -60.6%. The balance sheet holds a net cash position of 73.6M SEK. Fundamentals as of Jul 17, 2026
Our scenario range runs from kr 1.78 (bear case) to kr 3.37 (bull case); at kr 13.60, the current price sits above that range. The share trades about 56% below its 52-week high and 38% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -72% fair-value upside, at -80%, GAPW-B screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 17, 2026. TTM = trailing twelve months.
About the company
Gapwaves AB (publ) designs, develops, manufactures, and delivers waveguide products in Sweden, rest of European Union, and internationally. The company offers automotive radar, traffic management, 5G phased arrays, defense radar, and flat panel antennas, as well as flange adapters and waveguide filters. Its products are used for industrial automation, telecom, smart cities, and civil-military applications. Gapwaves AB (publ) was incorporated in 2011 and is headquartered in Gothenburg, Sweden.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Gapwaves AB reported revenue of kr 90.6M in FY2025 versus kr 34.9M in FY2021, a compound +27.0%/yr. Reported net income was −kr 58.2M in FY2025.
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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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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.