Gapwaves AB (GAPW-B) Fair Value & Analysis
Technology · SE · Market cap 603M SEK (≈ $63.2M) · ISIN SE0009155518
What is Gapwaves AB really worth?
A solid business, but trading 336% above our fair value of kr 2.70.
Risks
Fair value as of: Aug 19, 2026
From 1 valuation models · updated 16 days ago
Share price −12.1% 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 3.37). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (kr 1.78 to kr 3.37) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
60‑month range kr 10.00 – kr 73.10 · fair‑value band kr 1.78 – kr 3.37 · the kr 11.78 price screens above the kr 2.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.
Analysis
Gapwaves AB (GAPW-B) currently trades at kr 11.78, while our model-based Fair Value estimate is kr 2.70, implying the stock looks roughly 336.3% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Technology sector. How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at 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 Aug 19, 2026
Our scenario range runs from kr 1.78 (bear case) to kr 3.37 (bull case); at kr 11.78, 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 62% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −52% fair-value upside, at −77%, GAPW-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.
All 1 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 13
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
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Gapwaves AB reported revenue of 90.6M SEK in FY2025 versus 34.9M SEK in FY2021, a compound +27.0%/yr. Reported net income was −58.2M SEK in FY2025.
GAPW-B screens 336% overvalued. Compare with Cisco Systems, Inc →
Peer Group
Communication Equipment · 302 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 Communication Equipment median · lower = cheaper
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.
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.
Similar stocks
10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cisco Systems, Inc CSCO | $112.15 | $61.53 | −45% |
| Zhongji Innolight Co 300308 | ¥866.12 | ¥171.09 | −80% |
| Foxconn Industrial Internet Co 601138 | ¥61.83 | ¥28.65 | −54% |
| Eoptolink Technology Inc 300502 | ¥429.90 | ¥176.99 | −59% |
| Nokia Oyj NOK | $10.21 | $3.78 | −63% |
| Motorola Solutions, Inc MSI | $491.24 | $236.33 | −52% |
| Yangtze Optical Fibre And Cable Joint Stock Limited 601869 | ¥400.03 | ¥201.38 | −50% |
| Suzhou TFC Optical Communication Co 300394 | ¥276.25 | ¥43.67 | −84% |
| Telefonaktiebolaget LM Ericsson (publ), ERIC | $10.13 | $19.85 | +96% |
| Accton Technology Corporation 2345 | 2,270 TWD | 1,135 TWD | −50% |
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