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Integrum AB (INTEG-B) Fair Value & Analysis

Healthcare · SE · Market cap 226M SEK (≈ $23.7M) · ISIN SE0009807266

What is Integrum AB really worth?

IA Integrum AB INTEG-B · ST
Pricekr 9.15
Fair Valuekr 2.00
Upside−78.1%
Quality21/100

Below-average quality, and trading another 357% above our fair value of kr 2.00.

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Risks

!Expensive Growth (revenue 5y +16.2 %/yr)
!Loss-making · -48.2% net margin
!Low debt · negative free cash flow
!Trails peers (3/11)
!Narrow moat 5/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 9 out of 100
Evidence: Low Range kr 1.32 – kr 2.50

Fair value as of: Aug 27, 2026

From 1 valuation models · updated 9 days ago

Share price +12.5% 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 2.50). The favourable scenario is already priced in.
  • Weak quality (21/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (kr 1.32 to kr 2.50) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

kr 102.00 kr 6.96 Fair Value kr 2.00 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range kr 6.96 – kr 102.00 · fair‑value band kr 1.32 – kr 2.50 · the kr 9.15 price screens above the kr 2.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Integrum AB (INTEG-B) currently trades at kr 9.15, while our model-based Fair Value estimate is kr 2.00, implying the stock looks roughly 357.5% overvalued today. The Quality Score stands at 21/100 (below-average quality), in the Healthcare 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, Integrum AB generated revenue of 96.1M SEK at a net margin of −48.2%. Revenue declined 7.2% year over year. It earns a return on equity of −26.5%. The balance sheet holds a net cash position of 15.9M SEK. Fundamentals as of Aug 27, 2026

Our scenario range runs from kr 1.32 (bear case) to kr 2.50 (bull case); at kr 9.15, 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 79% below its 52-week high and 43% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −34% fair-value upside, at −78%, INTEG-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.

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) best evidence kr 3.30 kr 4.43 kr 6.61 54
All 1 models by family
Asset-Based
NCAV (Graham) best evidence kr 3.30 kr 4.43 kr 6.61 54

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Key figures & financial health

P/S ratio 2.36 TTM
EPS (TTM) kr −1.98
Dividend yield 0.5%
Net margin −50.7% FY2025
Return on equity −26.5% TTM
Return on assets (EBIT) −10.7% avg 5y
More key figures
Profitability
Operating margin −75.9% TTM
Growth
Revenue (TTM) 96.1M SEK TTM
Revenue growth (YoY) −7.3% 3y avg +7.2%
EPS growth (YoY) +61.5%
Balance sheet & cash flow
Free cash flow −58.0M SEK FY2025
Net cash 15.9M SEK FY2025

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 21/100

Of which business quality 27 · Market factors (momentum, volatility) 34

Profitability 5
Margins and returns on capital today
Quality Growth 15
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 0
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

Integrum AB (publ) researches, develops, and sells various systems for bone-anchored prostheses. The company provides prostheses for the Rehabilitation of Amputees (OPRA) implant systems, a bone-anchored prostheses system based on osseointegration, where the prostheses are directly attached to the bone, avoiding the use of socket.

Full company description

Integrum AB (publ) researches, develops, and sells various systems for bone-anchored prostheses. The company provides prostheses for the Rehabilitation of Amputees (OPRA) implant systems, a bone-anchored prostheses system based on osseointegration, where the prostheses are directly attached to the bone, avoiding the use of socket. The OPRA implant system offers protection to the patient by avoiding bone fractures from accidental loads. It also provides Neuromotus, a technology that is used for therapy to reduce phantom limb pain after an amputation. It sells its implant systems to hospitals, clinics, and orthopedists worldwide. The company was incorporated in 1990 and is headquartered in Mölndal, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Integrum AB reported revenue of 91.4M SEK in FY2025 versus 55.7M SEK in FY2021, a compound +13.2%/yr. Reported net income was −46.3M SEK in FY2025.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
91.4M SEK
Latest YoY
+0.3%
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.
+7.2%
Avg. revenue growth/yr (5Y) 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.
+16.2%
Avg. revenue growth/yr (12Y) 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.
+14.0%
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 +13.2%/yr
FY21 55.7M SEK
FY22 74.3M SEK
FY23 104M SEK
FY24 91.1M SEK
FY25 91.4M SEK
Net income
FY21 21.3M SEK
FY22 −16.2M SEK
FY23 4.0M SEK
FY24 −30.9M SEK
FY25 −46.3M SEK

INTEG-B screens 357% overvalued. Compare with Abbott Laboratories, →

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Cite: Fair Value Calculator (2026). "Integrum AB Fair Value". https://www.fairvalue-calculator.com/stock/INTEG-B

Peer Group

Medical Devices · 352 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 27 · Bottom 25%
Fair Value upside −78% · Bottom 25%
Return on assets −16% · Bottom 25%
Net margin (TTM) −48% · Bottom 25%
Operating margin (TTM) −76% · Bottom 25%
Revenue growth −7% · Bottom 25%
Dividend yield (TTM) 0.5% · Bottom 25%

Valuation Multiples vs Medical Devices median · lower = cheaper

P/B 0.14× · Cheaper than 75% of peers
P/S (TTM) 0.25× · Cheaper than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 32
PAST0 · sector 5
HEALTH100 · sector 97
DIVIDEND9 · sector 35

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.

None of the checked exposures detected

Similar stocks

10 more Medical Devices stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $112.47 $74.79 −34%
Stryker Corporation SYK $322.12 $186.28 −42%
Medtronic plc MDT $89.97 $65.57 −27%
Boston Scientific Corporation BSX $46.84 $30.73 −34%
Edwards Lifesciences Corporation EW $89.78 $41.02 −54%
Siemens Healthineers AG SHL €39.52 €33.87 −14%
DexCom, Inc DXCM $90.82 $38.95 −57%
GE HealthCare Technologies Inc GEHC $74.82 $64.13 −14%
Koninklijke Philips N.V PHIA €23.69 €14.36 −39%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥150.63 ¥147.63 −2%

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Frequently asked questions

Is Integrum AB (INTEG-B) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of kr 2.00 versus a price of kr 9.15, about −78% upside (overvalued).
What is the fair value of INTEG-B?
Our model-based fair value for Integrum AB is kr 2.00 (as of Aug 27, 2026), built from audited fundamentals. The current price: kr 9.15.
What is the quality score of INTEG-B?
Integrum AB has a Quality Score of 21/100. 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 Integrum AB (INTEG-B)?
Integrum AB reported trailing-twelve-month revenue of about 96.1M SEK (latest available figure, as of Aug 27, 2026).
What is the net profit margin of INTEG-B?
The net profit margin of Integrum AB is about −48.2%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Integrum AB pay a dividend?
Integrum AB currently shows a dividend yield of about 0.47% relative to its recent price (as of Aug 27, 2026).
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