Iconovo AB (ICO) Fair Value & Analysis
Healthcare · SE · Market cap 119M SEK
Fair value as of: Jul 16, 2026
From 1 valuation models · updated today
Share price −9.5% over the past month.
Price vs Fair Value (12 months)
12‑month range kr 1.00 – kr 2.63 · fair‑value band kr 0.5185 – kr 1.05 · the kr 1.05 price screens above the kr 0.6970 fair value. As of Jul 16, 2026.
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Iconovo AB (ICO) currently trades at kr 1.05, while our model-based Fair Value estimate is kr 0.6970 — implying the stock looks roughly 33.6% overvalued today. We read business quality at 19/100 (below-average quality), in the Healthcare 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 13.8M SEK. Revenue declined 14.2% year over year. It earns a return on equity of -29.2%. The balance sheet holds a net cash position of 1.6M SEK. Fundamentals as of Jul 16, 2026
Our scenario range runs from kr 0.5185 (bear case) to kr 1.05 (bull case); at kr 1.05, the current price sits above that range. The share trades about 62% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -29% fair-value upside — at -34%, ICO screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 16, 2026. TTM = trailing twelve months.
About the company
Iconovo AB (publ) develops inhaled medicinal products in Sweden. The company offers ICOres, a multi-dose dry powder inhaler; ICOcap, a capsule based dry powder inhaler; ICOone, a single-dose disposable dry powder inhaler; and ICOpre, a pre-metered dry powder inhaler; and ICOone nasal single-dose dry powder inhaler for nasal use. It serves generic companies. The company has a collaboration agreement with Lonza to develop spray-dried formulations of an intranasal biologic drug; and agreement with Kiox Pharma to develop an inhalable treatment for interstitial lung disease. Iconovo AB (publ) was founded in 2013 and is headquartered in Lund, Sweden.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Iconovo AB reported revenue of kr 1.1M in FY2025 versus kr 15.4M in FY2021, a compound −48.3%/yr. Reported net income was −kr 43.4M in FY2025.
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|---|---|---|---|
| Abbott Laboratories, ABL | €73.48 | €59.51 | -19% |
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| Siemens Healthineers AG SEMHF | $39.95 | $44.36 | +11% |
| DexCom, Inc DXCM | $74.96 | $38.95 | -48% |
| GE HealthCare Technologies Inc GEHC | $63.76 | $44.97 | -29% |
| Koninklijke Philips N.V 1PHIA | €24.31 | €9.97 | -59% |
| Shenzhen Mindray Bio-Medical Electronics Co 300760 | ¥143.50 | ¥111.50 | -22% |
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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.