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Neovici Holding AB (publ) (IDLDX) Fair Value & Analysis

Healthcare · Market cap 91.0M SEK (≈ $9.5M) · ISIN SE0003883990

NH Neovici Holding AB (publ) IDLDX · ST
Pricekr 0.4090
Fair Valuekr 0.1200
Upside-70.7%
Quality46/100
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Risks

!Trades 241% ABOVE our fair value of kr 0.1200
!Mixed Growth (revenue 3y +12.8 %/yr)
!Loss-making · -15.4% net margin
!negative free cash flow
Mixed Growth (revenue 3y +12.8 %/yr)
Loss-making · -15.4% net margin
negative free cash flow
Trails peers (3/9)
Narrow moat 18/100
Evidence: Low Range kr 0.0800 – kr 0.1500 Share as image

Fair value as of: Aug 22, 2026

From 1 valuation models · updated 8 days ago

Share price −4.2% over the past month.

Below-average quality, and trading another 241% above our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The price sits above even our optimistic bull case (kr 0.1500). 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 (46/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 0.0800 to kr 0.1500) leaves room in how you read the outcome.
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Price vs Fair Value (15 months)

kr 0.5900 kr 0.2590 Fair Value kr 0.1200 May 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

15‑month range kr 0.2590 – kr 0.5900 · fair‑value band kr 0.0800 – kr 0.1500 · the kr 0.4090 price screens above the kr 0.1200 fair value. Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

Neovici Holding AB (publ) (IDLDX) currently trades at kr 0.4090, while our model-based Fair Value estimate is kr 0.1200, implying the stock looks roughly 70.7% overvalued today. The Quality Score stands at 46/100 (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).

Over the trailing twelve months, Neovici Holding AB (publ) generated revenue of 54.5M SEK at a net margin of -15.4%. Revenue grew 9.3% year over year. It earns a return on equity of -6.5%. The balance sheet holds a net cash position of 23.3M SEK. Fundamentals as of Aug 22, 2026

Our scenario range runs from kr 0.0800 (bear case) to kr 0.1500 (bull case); at kr 0.4090, 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 29% below its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -54% fair-value upside, at -71%, IDLDX screens richer 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.

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. Evidence
Highest evidence
NCAV (Graham) kr 0.3200 kr 0.4300 kr 0.6400 50
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.3200 kr 0.4300 kr 0.6400 50

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Key figures & financial health

P/S ratio 2.07 TTM
EPS (TTM) kr -0.0300
Net margin -22.9% FY2025
Return on equity -6.5% TTM
Return on assets (EBIT) -24.0% avg 5y
Operating margin 4.3% TTM
More key figures
Growth
Revenue (TTM) 54.5M SEK TTM
Revenue growth (YoY) +9.3% 3y avg +12.8%
Balance sheet & cash flow
Free cash flow −9.2M SEK FY2025
Net cash 23.3M SEK FY2025

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 45 · Market factors (momentum, volatility) 36

Profitability 8
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 35
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 70
Buybacks instead of dilution

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

IDL Diagnostics AB (publ), a vitro diagnostics company, manufactures and sells IVD tests for oncological and bacterial diseases in Sweden. It offers UBC Rapid, a point-of-care test for diagnosis and monitoring of bladder cancer; AroCell TK 210 ELISA, a biomarker for tumor cells; and TUBEX TF, a vitro diagnostic test for detection of acute typhoid fever.

Full company description

IDL Diagnostics AB (publ), a vitro diagnostics company, manufactures and sells IVD tests for oncological and bacterial diseases in Sweden. It offers UBC Rapid, a point-of-care test for diagnosis and monitoring of bladder cancer; AroCell TK 210 ELISA, a biomarker for tumor cells; and TUBEX TF, a vitro diagnostic test for detection of acute typhoid fever. Its vitro diagnostic biomarkers are used in breast, bladder, and prostate cancer therapies. The company was formerly known as AroCell AB (publ) and changed its name to IDL Diagnostics AB (publ) in May 2025. IDL Diagnostics AB (publ) was incorporated in 2000 and is based in Stockholm, Sweden.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Neovici Holding AB (publ) reported revenue of kr 53.1M in FY2025 versus kr 12.0M in FY2021, a compound +45.1%/yr. Reported net income was −kr 12.2M in FY2025.

Growth Quality 28/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
53.1M SEK
Latest YoY
−7.5%
Avg. revenue growth/yr (3Y) 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.
+12.8%
Avg. revenue growth/yr (15Y) 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.
+65.9%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +45.1%/yr
FY21 kr 12.0M
FY22 kr 37.0M
FY23 kr 43.0M
FY24 kr 57.4M
FY25 kr 53.1M
Net income
FY21 −kr 50.0M
FY22 −kr 59.0M
FY23 −kr 59.3M
FY24 −kr 42.4M
FY25 −kr 12.2M

IDLDX screens 71% overvalued. Compare with Thermo Fisher Scientific Inc →

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Cite: Fair Value Calculator (2026). "Neovici Holding AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/IDLDX

Peer Group

Diagnostics & Research · 140 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.

Quality Score 45 · Below median
Fair Value upside −71% · Bottom 25%
Return on assets -3% · Below median
Net margin (TTM) -15% · Bottom 25%
Operating margin (TTM) 4% · Below median
Revenue growth 9% · Above median

Valuation Multiples vs Diagnostics & Research median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.17× · Cheaper than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE47 · sector 24
PAST0 · sector 9
HEALTH0 · sector 96
DIVIDEND0 · sector 20

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Diagnostics & Research stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
Thermo Fisher Scientific Inc TMO $630.70 $308.19 -51%
Danaher Corporation DHR $215.68 $103.88 -52%
WuXi AppTec Co 2359 HK$198.90 HK$157.39 -21%
Lonza Group LONN CHF 587.80 CHF 259.80 -56%
IDEXX Laboratories, Inc IDXX $553.44 $255.77 -54%
Agilent Technologies, Inc A $155.08 $61.53 -60%
Waters Corporation WAT $416.15 $121.96 -71%
IQVIA Holdings IQV $236.66 $132.17 -44%
Illumina, Inc ILMN $224.84 $95.51 -58%
Mettler-Toledo International Inc MTD $1,419 $615.78 -57%

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Frequently asked questions

Is Neovici Holding AB (publ) (IDLDX) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of kr 0.1200 versus a price of kr 0.4090, about −71% (overvalued).
What is the fair value of IDLDX?
Our model-based fair value for Neovici Holding AB (publ) is kr 0.1200 (as of Aug 22, 2026), built from audited fundamentals. The current price: kr 0.4090.
What is the quality score of IDLDX?
Neovici Holding AB (publ) has a Quality Score of 46/100. 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 revenue of Neovici Holding AB (publ) (IDLDX)?
Neovici Holding AB (publ) reported trailing-twelve-month revenue of about 54.5M SEK (latest available figure, as of Aug 22, 2026).
What is the net profit margin of IDLDX?
The net profit margin of Neovici Holding AB (publ) is about -15.4%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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