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Image Systems AB (IS) Fair Value & Analysis

Technology · SE · Market cap 63.2M SEK

IS Image Systems AB IS · ST
Pricekr 0.8600
Fair Valuekr 1.20
Upside+39.5%
Quality50/100
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Weak Growth
Loss-making · -16.4% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 10/100
Evidence: Medium Range kr 0.8700 – kr 1.52 Share as image

Fair value as of: Jul 16, 2026

From 11 valuation models · updated 25 days ago

Share price −2.3% over the past month.

A solid business, screening 40% undervalued on our models.

What matters now

  • Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from kr 0.8700 (bear) to kr 1.52 (bull), base kr 1.20. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 50/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

kr 2.83 kr 0.6380 Fair Value kr 1.20 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 0.6380 – kr 2.83 · fair‑value band kr 0.8700 – kr 1.52 · the kr 0.8600 price screens below the kr 1.20 fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Image Systems AB (IS) currently trades at kr 0.8600, while our model-based Fair Value estimate is kr 1.20, implying the stock looks roughly 39.5% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Image Systems AB generated revenue of 158M SEK at a net margin of -16.4%. Revenue declined 49.2% year over year. It earns a return on equity of -23.8%. Net debt stands at 9.5M SEK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 0.8700 (bear case) to kr 1.52 (bull case); at kr 0.8600, the current price sits below 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 63% below its 52-week high and 72% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -16% fair-value upside, at 40%, IS screens cheaper 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
Growth DCF kr 1.93 kr 2.41 kr 2.93 80
Rev-Margin DCF kr 1.73 kr 2.44 kr 3.21 74
EV/EBITDA kr 1.08 kr 1.40 kr 1.73 54
All 11 models by family
DCF Models
FCF DCF kr 1.91 kr 2.43 kr 3.03 38
Owner Earnings kr 0.7600 kr 0.9600 kr 1.18 31
5Y Revenue Exit kr 1.73 kr 2.41 kr 3.23 39
5Y EBITDA Exit kr 1.39 kr 1.81 kr 2.26 41
10Y Revenue Exit kr 1.76 kr 2.32 kr 2.99 36
10Y EBITDA Exit kr 1.61 kr 1.97 kr 2.38 37
Multiples
EV/EBITDA kr 1.08 kr 1.40 kr 1.73 54
EV/Revenue kr 1.69 kr 2.37 kr 3.05 43
Asset-Based
NCAV (Graham) kr 0.6100 kr 0.8200 kr 1.23 50
Growth DCF
Growth DCF kr 1.93 kr 2.41 kr 2.93 80
Rev-Margin DCF kr 1.73 kr 2.44 kr 3.21 74

Widest divergence: Growth DCF (kr 2.41) versus Asset-Based (kr 0.8200). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 158M SEK
Revenue growth (YoY) -49.2%
Net margin -16.4%
Return on equity -23.8%
Free cash flow 20.7M SEK FY2025
Operating margin -62.8%
More key figures
EPS (TTM) kr -0.2800
EPS growth (YoY) -94.4%
Net debt 9.5M SEK FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 52 · Market factors (momentum, volatility) 30

Profitability 13
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

Image Systems AB, a technology company, develops and markets software and systems for non-contact measurement technology and advanced image processing markets in North and South America, Europe, Asia and internationally. It operates in two segments, RemaSawco and Motion Analysis.

Full company description

Image Systems AB, a technology company, develops and markets software and systems for non-contact measurement technology and advanced image processing markets in North and South America, Europe, Asia and internationally. It operates in two segments, RemaSawco and Motion Analysis. The company offers software for motion analysis of applications in the defense, aviation, automotive, and other industries; and products and systems in scanning technology, smart data analysis, and optimization for the sawmill industry, as well as timber intake, timber sorting, saw-line, board sorting, and modern automation solutions. It also provides software for analyzing films, such as TEMA used in testing military equipment, car crash tests and university research; and TrackEye used in defense testing and aerospace industries, as well as products and services in image processing. Image Systems AB was founded in 1954 and is headquartered in Linköping, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Image Systems AB reported revenue of kr 169M in FY2025 versus kr 152M in FY2021, a compound +2.6%/yr. Reported net income was −kr 14.6M in FY2025.

Growth Quality 29/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
169M SEK
Latest YoY
−8.9%
Avg. 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.
−0.5%
Avg. 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.
+0.7%
Avg. growth/yr (19Y) 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.
+4.1%
Revenue +2.6%/yr
FY21 kr 152M
FY22 kr 171M
FY23 kr 161M
FY24 kr 185M
FY25 kr 169M
Net income
FY21 kr 100K
FY22 kr 8.6M
FY23 −kr 6.8M
FY24 kr 8.6M
FY25 −kr 14.6M

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Cite: Fair Value Calculator (2026). "Image Systems AB Fair Value". https://www.fairvalue-calculator.com/stock/IS

Peer Group

Consumer Electronics · 129 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 50 · Below median
Fair Value upside +40% · Top 25%
Return on assets -8% · Bottom 25%
Net margin (TTM) -16% · Bottom 25%
Operating margin (TTM) -63% · Bottom 25%
Revenue growth -49% · Bottom 25%

Valuation Multiples vs Consumer Electronics median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.04× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
PEG 5.40× · Pricier 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.

VALUE 86 · sector 8
FUTURE 0 · sector 13
PAST 0 · sector 10
HEALTH 100 · sector 97
DIVIDEND 0 · sector 29

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Consumer Electronics stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Apple Inc AAPL $313.33 $122.91 -61%
Samsung Electronics Co 005930 255,000 KRW 138,019 KRW -46%
Sony Group SONYN 366.00 MXN 468.94 MXN +28%
Xiaomi Corporation 1810 HK$26.88 HK$39.84 +48%
LG Electronics Inc 066570 179,000 KRW 101,531 KRW -43%
Sharetronic Data Technology Co 300857 ¥277.96 ¥35.89 -87%
Huaqin Co 603296 ¥78.20 ¥65.69 -16%
Goertek Inc 002241 ¥22.25 ¥18.86 -15%
LG Corp 003550 102,400 KRW 93,881 KRW -8%
Anker Innovations Limited 300866 ¥105.92 ¥78.52 -26%

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Frequently asked questions

Is Image Systems AB (IS) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 1.20 versus a price of kr 0.8600, about +40% (undervalued).
What is the fair value of IS?
Our model-based fair value for Image Systems AB is kr 1.20 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 0.8600.
What is the quality score of IS?
Image Systems AB has a Quality Score of 50/100. 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 Image Systems AB (IS)?
Image Systems AB reported trailing-twelve-month revenue of about 158M SEK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of IS?
The net profit margin of Image Systems AB is about -16.4%, 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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