KebNi AB (publ) (KEBNI-B) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of KebNi AB (publ) stock SEK 0.73, price SEK 0.63, upside +15.3%, quality 45 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range kr 0.4019 – kr 2.76 · fair‑value band kr 0.4500 – kr 1.28 · the kr 0.6330 price screens below the kr 0.7300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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KebNi AB (publ) develops, produces, and sells products and applications for stabilization, navigation, and satcom worldwide. The company offers SensAItion, an inertial measurement unit/inertial navigation system platform, as well as other tailor sensor solutions.
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It also provides Kebni Gimbal, a military maritime terminal; Kebni SOTM, a low profile on-the-move terminal; and Kebni Satmission, a drive-away terminal. The company serves governmental, military, and commercial organizations.
The company was formerly known as Advanced Stabilized Technologies Group AB (publ) and changed its name to KebNi AB (publ) in July 2020. KebNi AB (publ) was incorporated in 2013 and is headquartered in Kista, Sweden.
Stock analysis
KebNi AB (publ) (KEBNI-B) currently trades at kr 0.6330, while our model-based Fair Value estimate is kr 0.7300, implying the stock looks roughly 13.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 0.7300 per share, and 5 of the 14 models we run sit above the kr 0.6330 price.
Bear case: the Asset-Based group reads lowest at kr 0.1000, and 9 of the 14 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 0.4500 (bear) to kr 1.28 (bull), the price of kr 0.6330 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 45/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
KebNi AB (publ) reported revenue of 125M SEK in FY2025 versus 18.3M SEK in FY2021, a compound +61.6%/yr. Reported net income was −237K SEK in FY2025.
Key figures
Market cap 173M SEK (≈ $17.5M) Micro · P/S ratio 2.10 · EPS (TTM) kr −0.1000 · Net margin −28.0% · Return on equity −47.3% · Return on assets (EBIT) −36.1% · Operating margin −11.7% · Revenue (TTM) 97.9M SEK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).
What moves the price
The share trades about 68% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −27% fair-value upside, at 15%, KEBNI-B screens cheaper than that median.
Fair Value models
Bearkr 0.4500Fair Value kr 0.7300Bullkr 1.28
Price kr 0.6330 · Upside +15.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+68.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+26.5%
Start year 2020 (pandemic). Over 10 years: +34.0% a year
Revenue growth 12 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+25.7%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−91.8% (2020) → 2.0% (2025)
What shareholders gained per year ⓘ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
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+9.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +7.6% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Aerospace & Defense · 233 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside+15.3% · Top 25%
Profitability
Return on assets−0.2% · Bottom 25%
Net margin (12 months)−28.0% · Bottom 25%
Operating margin (12 months)−11.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−14.4% · Bottom 25%
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "KebNi AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/KEBNI-B
Frequently asked questions
Is KebNi AB (publ) (KEBNI-B) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of kr 0.7300 versus a price of kr 0.6330, about +15% upside (undervalued).
What is the fair value of KEBNI-B?
Our model-based fair value for KebNi AB (publ) is kr 0.7300 (as of Oct 3, 2026), built from audited fundamentals. The current price: kr 0.6330.
What is the quality score of KEBNI-B?
KebNi AB (publ) has a Quality Score of 45/100. 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 price target for KebNi AB (publ) (KEBNI-B)?
Our model-based price target is the fair value of kr 0.7300 (as of Oct 3, 2026) from 14 valuation models. Cautious scenario kr 0.4500, optimistic scenario kr 1.28. It is a calculation from audited fundamentals, not an analyst target.
What is the KebNi AB (publ) stock forecast for 2026?
Our models put fair value at kr 0.7300, about +15% upside versus a price of kr 0.6330 (undervalued). Cautious scenario kr 0.4500, optimistic scenario kr 1.28. The calculation is refreshed regularly with new filings.
What is the revenue of KebNi AB (publ) (KEBNI-B)?
KebNi AB (publ) reported trailing-twelve-month revenue of about 97.9M SEK (latest available figure, as of Oct 3, 2026).
What growth is priced into KebNi AB (publ) (KEBNI-B)?
For today's price to be fair in a discounted-cash-flow model, KebNi AB (publ) would have to grow free cash flow by +9.7 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +26.5 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of KEBNI-B use?
Our models discount KebNi AB (publ) at 9.5 %: a base by market capitalisation (nano), country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For KebNi AB (publ) that is +9.7 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has KebNi AB (publ) (KEBNI-B) delivered so far?
Over the past 5 years revenue at KebNi AB (publ) grew +26.5 % a year. The price currently implies +9.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of KebNi AB (publ) (KEBNI-B) growing?
The median revenue growth in the sector is +4.3 % a year. That is the yardstick for the growth priced into KebNi AB (publ) (+9.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of KebNi AB (publ) (KEBNI-B)?
The free-cash-flow yield on the price is 4.34 %: that much free cash flow KebNi AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of KebNi AB (publ) (KEBNI-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KebNi AB (publ) it is kr 0.7300 per share (as of Oct 3, 2026), against a price of kr 0.6330. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is KebNi AB (publ) stock overvalued or undervalued in 2026?
As of Oct 3, 2026, KEBNI-B trades below its calculated fair value: price kr 0.6330, fair value kr 0.7300, a gap of about +15% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of KEBNI-B?
No. The price is what the market pays today (kr 0.6330); the fair value is what the company's own numbers justify (kr 0.7300). For KebNi AB (publ) the two are kr 0.0970 per share apart. That gap is exactly why we show both numbers side by side.
How much is KebNi AB (publ) worth?
The market values KebNi AB (publ) at about 173M SEK (market capitalisation, as of Oct 3, 2026). Per share that is kr 0.6330; our models calculate a fair value of kr 0.7300 per share.
What do the bullish and bearish scenarios say about KEBNI-B?
Our models span a range for KebNi AB (publ): cautious scenario kr 0.4500, base kr 0.7300, optimistic kr 1.28 per share (as of Oct 3, 2026, price kr 0.6330). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of KebNi AB (publ) (KEBNI-B)?
Balance-sheet figures for KebNi AB (publ) (as of Oct 3, 2026): return on equity −47.3%. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is KEBNI-B from its 52-week high?
KebNi AB (publ) trades at kr 0.6330, about 68% below its 52-week high of kr 1.99 and 1% above the low of kr 0.6260 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.7300 is for.
Which stocks are comparable to KebNi AB (publ)?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is KebNi AB (publ) stock attractive at the current price?
The data as of Oct 3, 2026: price kr 0.6330, calculated fair value kr 0.7300 (+15%), Quality Score 45/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of KEBNI-B calculated?
We run KebNi AB (publ) through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 0.7300, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9 % above its aggregate fair value. KebNi AB (publ) currently trades 13 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of KebNi AB (publ) (KEBNI-B)?
The closing price on Oct 19, 2026 was kr 0.6330. Our model-based fair value is kr 0.7300, about +15% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KebNi AB (publ) right now?
The model range is unusually wide (kr 0.4500 to kr 1.28). The outcome hinges heavily on assumptions, so read the point estimate with caution. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of KebNi AB (publ)
How large is the market capitalisation of KebNi AB (publ) (KEBNI-B)?
The market capitalisation of KebNi AB (publ) is 173M SEK (≈ $17.5M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of KebNi AB (publ) (KEBNI-B)?
The price-to-sales ratio of KebNi AB (publ) is 2.10 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of KebNi AB (publ) (KEBNI-B)?
Earnings per share at KebNi AB (publ) are kr −0.1000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of KebNi AB (publ) (KEBNI-B)?
The net margin of KebNi AB (publ) is −28.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of KebNi AB (publ) (KEBNI-B)?
The return on equity (ROE) of KebNi AB (publ) is −47.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of KebNi AB (publ) (KEBNI-B)?
On an EBIT basis the return on assets of KebNi AB (publ) is −36.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of KebNi AB (publ) (KEBNI-B)?
The operating margin of KebNi AB (publ) is −11.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KebNi AB (publ) (KEBNI-B)?
Revenue at KebNi AB (publ) is growing −14.4% versus a year earlier (3y avg +68.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at KebNi AB (publ) (KEBNI-B)?
Earnings per share at KebNi AB (publ) are growing +43.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does KebNi AB (publ) (KEBNI-B) hold?
KebNi AB (publ) holds more cash than debt, 17.0M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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