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Invisio AB (IVSO) Fair Value & Analysis

Technology · SE · Market cap 10.0B SEK

IA Invisio AB IVSO · ST
Pricekr 227.00
Fair Valuekr 99.18
Upside-56.3%
Quality56/100
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Mixed Growth
Solidly profitable · 12.1% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Moderate moat 62/100
Evidence: High Range kr 74.39 – kr 150.94 Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 22 days ago

Share price +5.5% over the past month.

A solid business, but screening 56% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 150.94). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 74.39 to kr 150.94) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 437.72 kr 106.99 Fair Value kr 99.18 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range kr 106.99 – kr 437.72 · fair‑value band kr 74.39 – kr 150.94 · the kr 227.00 price screens above the kr 99.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Invisio AB (IVSO) currently trades at kr 227.00, while our model-based Fair Value estimate is kr 99.18, implying the stock looks roughly 56.3% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Technology 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: high).

Over the trailing twelve months, Invisio AB generated revenue of 1.8B SEK at a net margin of 12.1%. Revenue grew 28.6% year over year. It earns a return on equity of 20.0%. The balance sheet holds a net cash position of 326M SEK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 74.39 (bear case) to kr 150.94 (bull case); at kr 227.00, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 43% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -56%, IVSO 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 BearBaseBull Evidence
Highest evidence
Growth DCF kr 68.34 kr 115.95 kr 209.11 80
Residual Income kr 29.98 kr 39.72 kr 140.40 76
Rev-Margin DCF kr 65.81 kr 119.81 kr 223.59 74
All 24 models by family
DCF Models
FCF DCF kr 72.21 kr 106.51 kr 213.42 38
Owner Earnings kr 54.26 kr 109.72 kr 221.85 31
5Y Revenue Exit kr 64.33 kr 105.85 kr 192.84 39
5Y EBITDA Exit kr 85.90 kr 149.46 kr 274.26 41
5Y P/E Exit kr 81.76 kr 174.58 kr 301.51 38
10Y Revenue Exit kr 65.49 kr 134.92 kr 179.59 36
10Y EBITDA Exit kr 82.93 kr 180.30 kr 352.10 37
10Y P/E Exit kr 79.98 kr 171.58 kr 323.10 35
Earnings-Based
Graham-Dodd kr 32.12 kr 223.97 kr 314.31 54
Lynch FV kr 89.86 kr 128.37 kr 166.88 50
PEG = 1.0 kr 89.86 kr 128.37 kr 166.88 46
EPV kr 55.13 kr 62.46 kr 68.79 59
Multiples
P/E Multiple kr 74.39 kr 99.18 kr 123.98 63
P/S Multiple kr 56.42 kr 75.23 kr 94.04 58
P/B Multiple kr 60.22 kr 80.29 kr 100.36 55
EV/EBIT kr 93.93 kr 122.35 kr 150.77 53
EV/EBITDA kr 88.67 kr 115.33 kr 142.00 54
EV/Revenue kr 56.06 kr 76.38 kr 96.69 43
Asset-Based
NCAV (Graham) kr 12.71 kr 17.03 kr 25.42 50
Growth DCF
Growth DCF kr 68.34 kr 115.95 kr 209.11 80
Rev-Margin DCF kr 65.81 kr 119.81 kr 223.59 74
Economic Profit
Residual Income kr 29.98 kr 39.72 kr 140.40 76
ROIC Compounder kr 68.71 kr 96.42 kr 134.47 72
Growth Earnings
Growth-Adj P/E kr 112.96 kr 161.36 kr 209.77 68

Widest divergence: Growth Earnings (kr 161.36) versus Asset-Based (kr 17.03). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.8B SEK
Revenue growth (YoY) +28.6%
Net margin 12.1%
Return on equity 20.0%
Free cash flow 185M SEK FY2025
P/E ratio 45.1
More key figures
Operating margin 9.2%
EPS (TTM) kr 4.78
EPS growth (YoY) +17.0%
Net cash 326M SEK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 60 · Market factors (momentum, volatility) 26

Profitability 77
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 21
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 62
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

Invisio AB (publ) develops and sells communication and hearing protection systems for professionals in the defense, law enforcement, and security sectors in Sweden, the United Kingdom, Denmark, Netherlands, rest of Europe, the United States, and internationally. It offers headsets, control units, intercom systems, tactical hubs, accessories, and cables.

Full company description

Invisio AB (publ) develops and sells communication and hearing protection systems for professionals in the defense, law enforcement, and security sectors in Sweden, the United Kingdom, Denmark, Netherlands, rest of Europe, the United States, and internationally. It offers headsets, control units, intercom systems, tactical hubs, accessories, and cables. The company offers its products under the INVISIO and Racal Acoustics brands. It markets and sells its products through partners and resellers. The company was formerly known as INVISIO Communications AB (publ) and changed its name to Invisio AB (publ) in June 2010. The company was founded in 1999 and is based in Malmö, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Invisio AB reported revenue of kr 1.7B in FY2025 versus kr 593M in FY2021, a compound +30.8%/yr. Reported net income was kr 218M in FY2025, compounding +96.9%/yr from FY2021.

Growth Quality 94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.7B SEK
Latest YoY
−3.9%
Avg. growth/yr (3Y)
+30.8%
Avg. growth/yr (5Y)
+26.7%
Avg. growth/yr (21Y)
+24.0%
Revenue +30.8%/yr
FY21 kr 593M
FY22 kr 776M
FY23 kr 1.2B
FY24 kr 1.8B
FY25 kr 1.7B
Net income +96.9%/yr
FY21 kr 14.5M
FY22 kr 44.5M
FY23 kr 178M
FY24 kr 306M
FY25 kr 218M

IVSO screens 56% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "Invisio AB Fair Value". https://www.fairvalue-calculator.com/stock/IVSO

Peer Group

Communication Equipment · 290 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 56 · Above median
Fair Value upside −56% · Below median
Return on equity (TTM) 20% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 9% · Above median
Revenue growth 29% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 45.1× · Pricier than median
P/B 8.48× · Pricier than 75% of peers
P/S (TTM) 5.43× · Pricier than 75% of peers
P/FCF 5.7× · Pricier than median
EV/EBITDA 27.2× · Pricier than median

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 0 · sector 0
FUTURE 100 · sector 30
PAST 80 · sector 15
HEALTH 100 · sector 98
DIVIDEND 0 · sector 24

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

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

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is Invisio AB (IVSO) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 99.18 versus a price of kr 227.00, about −56% (overvalued).
What is the fair value of IVSO?
Our model-based fair value for Invisio AB is kr 99.18 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 227.00.
What is the quality score of IVSO?
Invisio AB has a Quality Score of 56/100. 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 Invisio AB (IVSO)?
Invisio AB reported trailing-twelve-month revenue of about 1.8B SEK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of IVSO?
The net profit margin of Invisio AB is about 12.1%, meaning it keeps roughly 12.1% of revenue as net income. Based on the latest reported figures.
Does Invisio AB pay a dividend?
Invisio AB currently shows a dividend yield of about 1.11% relative to its recent price (as of Jul 18, 2026).

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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