Klarna Group (H1W) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Klarna Group €14.41, price €11.04, upside +30.5%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 29, 2026.
How to read this chart
13‑month range €10.78 – €39.16 · fair‑value band €13.25 – €15.41 · the €11.04 price screens below the €14.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 29, 2026.
Klarna Group plc operates as a digital bank and flexible payments provider in the United Kingdom, the United States, Germany, Sweden, and internationally.
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Klarna Group plc operates as a digital bank and flexible payments provider in the United Kingdom, the United States, Germany, Sweden, and internationally. The company provides payment solutions, such as pay in full solution that settles purchases at time of the transaction; pay later solution that enables customers to purchase goods and services at the time of the transaction and pay the full amount at a later date; and fair financing that allows consumers to pay for their purchase over a long duration ranges from three to 48 months. It also offers advertising solutions that include sponsored search, affiliate programs, and brand advertisement; digital retail banking solutions, such as deposit and saving account, financial insights, and Klarna balance that allow consumer to hold monetary balance with Klarna balance solutions; and payment channels, including Klarna payment, Klarna app, Klarna card, and Klarna in-store. Additionally, the company provides membership programs, product search and price comparison, cashback offers and merchant deals, loyalty cards, wish lists, delivery tracking and returns, AI-enabled support, Klarna memberships, Klarna merchant portal, and on-site messaging solutions. The company was formerly known as Klarna UK II plc and changed its name to Klarna Group plc in December 2023. Klarna Group plc was founded in 2005 and is based in London, United Kingdom.
Stock analysis
Klarna Group (H1W) currently trades at €11.04, while our model-based Fair Value estimate is €14.41, implying the stock looks roughly 23.4% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €19.22 per share, and 5 of the 6 models we run sit above the €11.04 price.
Bear case: the Asset-Based group reads lowest at €3.95, and 1 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: €13.25 (bear) to €15.41 (bull), the price of €11.04 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 45/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Klarna Group reported revenue of $3.5B in FY2025 versus $1.9B in FY2022, a compound +22.6%/yr. Reported net income was −$294M in FY2025.
Key figures
Market cap €6.6B · P/S ratio 1.72 · EPS (TTM) €−0.4600 · Net margin −8.4% · Return on equity −7.0% · Return on assets (EBIT) 1.6% · Operating margin 1.7% · Revenue (TTM) $3.8B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 69% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at 10% fair-value upside, at 31%, H1W screens cheaper than that median.
Fair Value models
Bear €13.25Fair Value €14.41Bull €15.41
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+24.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+22.6%
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−43.8% (2022) → 12.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Klarna Group Fair Value". https://www.fairvalue-calculator.com/stock/H1W
Frequently asked questions
Is Klarna Group (H1W) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of €14.41 versus a price of €11.04, about +31% upside (undervalued).
What is the fair value of H1W?
Our model-based fair value for Klarna Group is €14.41 (as of Sep 29, 2026), built from audited fundamentals. The current price: €11.04.
What is the quality score of H1W?
Klarna Group has a Quality Score of 45/100. 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 price target for Klarna Group (H1W)?
Our model-based price target is the fair value of €14.41 (as of Sep 29, 2026) from 6 valuation models. Cautious scenario €13.25, optimistic scenario €15.41. It is a calculation from audited fundamentals, not an analyst target.
What is the Klarna Group stock forecast for 2026?
Our models put fair value at €14.41, about +31% upside versus a price of €11.04 (undervalued). Cautious scenario €13.25, optimistic scenario €15.41. The calculation is refreshed regularly with new filings.
What is the revenue of Klarna Group (H1W)?
Klarna Group reported trailing-twelve-month revenue of about $3.8B (latest available figure, as of Sep 29, 2026).
What is the intrinsic value of Klarna Group (H1W)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Klarna Group it is €14.41 per share (as of Sep 29, 2026), against a price of €11.04. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Klarna Group stock overvalued or undervalued in 2026?
As of Sep 29, 2026, H1W trades below its calculated fair value: price €11.04, fair value €14.41, a gap of about +31% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of H1W?
No. The price is what the market pays today (€11.04); the fair value is what the company's own numbers justify (€14.41). For Klarna Group the two are €3.37 per share apart. That gap is exactly why we show both numbers side by side.
How much is Klarna Group worth?
The market values Klarna Group at about €6.6B (market capitalisation, as of Sep 29, 2026). Per share that is €11.04; our models calculate a fair value of €14.41 per share.
What do the bullish and bearish scenarios say about H1W?
Our models span a range for Klarna Group: cautious scenario €13.25, base €14.41, optimistic €15.41 per share (as of Sep 29, 2026, price €11.04). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is H1W from its 52-week high?
Klarna Group trades at €11.04, about 69% below its 52-week high of €36.10 and 2% above the low of €10.78 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €14.41 is for.
Which stocks are comparable to Klarna Group?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Klarna Group stock attractive at the current price?
The data as of Sep 29, 2026: price €11.04, calculated fair value €14.41 (+31%), Quality Score 45/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of H1W calculated?
We run Klarna Group through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €14.41, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Klarna Group currently trades 23 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Klarna Group (H1W)?
The closing price on Oct 2, 2026 was €11.04. Our model-based fair value is €14.41, about +31% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Klarna Group right now?
The price is below even our cautious bear case (€13.25). The market is more pessimistic than our downside scenario. 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 quality (45/100) 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.
Key figures of Klarna Group
How large is the market capitalisation of Klarna Group (H1W)?
The market capitalisation of Klarna Group is €6.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Klarna Group (H1W)?
The price-to-sales ratio of Klarna Group is 1.72 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Klarna Group (H1W)?
Earnings per share at Klarna Group are €−0.4600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Klarna Group (H1W)?
The net margin of Klarna Group is −8.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Klarna Group (H1W)?
The return on equity (ROE) of Klarna Group is −7.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Klarna Group (H1W)?
On an EBIT basis the return on assets of Klarna Group is 1.6% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Klarna Group (H1W)?
The operating margin of Klarna Group is 1.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Klarna Group (H1W)?
Revenue at Klarna Group is growing +44.4% versus a year earlier (3y avg +22.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Klarna Group (H1W) generate?
The free cash flow of Klarna Group is −$1.1B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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