Keo Capital AB (KEOC) Fair Value & Analysis
Technology · SE · Market cap 3.7B SEK (≈ $390M)
What is Keo Capital AB really worth?
Below-average quality, and trading another 381% above our fair value of kr 1.81.
Risks
Fair value as of: Aug 13, 2026
From 1 valuation models · updated 19 days ago
Share price −16.6% 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 2.70). 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 (48/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (kr 1.35 to kr 2.70) leaves room in how you read the outcome.
Price vs Fair Value (4 months)
White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.
How to read this chart
4‑month range kr 8.05 – kr 11.80 · fair‑value band kr 1.35 – kr 2.70 · the kr 8.71 price screens above the kr 1.81 fair value. As of Aug 13, 2026.
Analysis
Keo Capital AB (KEOC) currently trades at kr 8.71, while our model-based Fair Value estimate is kr 1.81, implying the stock looks roughly 381.2% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Technology sector. How firm this estimate is: it rests on 1 models at a data quality of 91/100, which puts the evidence level at low.
It earns a return on equity of −17.4%. Fundamentals as of Aug 13, 2026
Our scenario range runs from kr 1.35 (bear case) to kr 2.70 (bull case); at kr 8.71, 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 32% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −38% fair-value upside, at −79%, KEOC 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.
All 1 models by family
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Key figures & financial health
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 47 · Market factors (momentum, volatility) 43
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
Keo Capital AB (publ), a fintech company, operates a digital credit platform focused on B2B payments and embedded working capital solutions in Mexico, Brazil, Canada, and Latin America.
Full company description
Keo Capital AB (publ), a fintech company, operates a digital credit platform focused on B2B payments and embedded working capital solutions in Mexico, Brazil, Canada, and Latin America. It operates a unified digital ecosystem that enables buyers and suppliers to interact through complementary solutions designed to improve liquidity, security, transparency, and efficiency in corporate payables and expense management. The company also offers digital B2B payment platforms, such as WorKEO that enable flexible payment terms and optimize working capital cycles, as well as proprietary technology and card issuer services supporting cross-border payments and credit underwriting. In addition, the company is involved in the oil related business. It serves corporate and mid-market customers. The company was formerly known as Maha Capital AB (publ) and changed its name to Keo Capital AB (publ) in June 2026. Keo Capital AB (publ)was founded in 2013 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2025 · reported fiscal years
Keo Capital AB reported revenue of $0 in FY2025 versus $12.3M in FY2022. Reported net income was −$24.7M in FY2025.
KEOC screens 381% overvalued. Compare with SAP SE →
Peer Group
Software - Application · 721 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.
Valuation Multiples vs Software - Application median · lower = cheaper
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.
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.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAP | €191.32 | €169.59 | −11% |
| Shopify Inc SHOP | C$209.78 | C$28.76 | −86% |
| Uber Technologies, Inc UBER | $78.82 | $43.66 | −45% |
| Salesforce, Inc CRM | $252.05 | $249.28 | −1% |
| ServiceNow, Inc NOW | $138.43 | $43.73 | −68% |
| Cadence Design Systems, Inc CDNS | $340.39 | $112.57 | −67% |
| Snowflake Inc SNOW | $329.11 | $42.27 | −87% |
| Adobe Inc ADBE | $289.15 | $454.04 | +57% |
| Automatic Data Processing, Inc ADP | $284.68 | $177.51 | −38% |
| Intuit Inc INTU | $348.00 | $363.46 | +4% |
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