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Klimator AB (KLIMAT) Fair Value & Analysis

Technology · SE · Market cap 137M SEK

KA Klimator AB KLIMAT · ST
Pricekr 3.61
Fair Valuekr 0.4335
Upside-88.0%
Quality47/100
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Expensive Growth
Loss-making · -0.7% net margin
Low debt · negative free cash flow
Trails peers (4/11)
Narrow moat 19/100
Evidence: High Range kr 0.3145 – kr 0.5440 Share as image

Fair value as of: Jul 11, 2026

From 16 valuation models · updated 30 days ago

Share price −7.9% over the past month.

Below-average quality, and screening another 88% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 0.5440). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 19.62 kr 1.11 Fair Value kr 0.4335 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range kr 1.11 – kr 19.62 · fair‑value band kr 0.3145 – kr 0.5440 · the kr 3.61 price screens above the kr 0.4335 fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Klimator AB (KLIMAT) currently trades at kr 3.61, while our model-based Fair Value estimate is kr 0.4335, implying the stock looks roughly 88.0% overvalued today. The Quality Score stands at 47/100 (below-average 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, Klimator AB generated revenue of 36.8M SEK at a net margin of -0.8%. Revenue grew 12.6% year over year. It earns a return on equity of -5.9%. Net debt stands at 8.2M SEK. Fundamentals as of Jul 11, 2026

Our scenario range runs from kr 0.3145 (bear case) to kr 0.5440 (bull case); at kr 3.61, 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 20% below its 52-week high and 58% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -88%, KLIMAT screens richer 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
Residual Income kr 0.2300 kr 0.2500 kr 0.2500 76
ROIC Compounder kr 0.7300 kr 0.7700 kr 0.8100 72
Gordon GGM kr 0.8300 kr 1.40 kr 1.81 70
All 16 models by family
Earnings-Based
Graham-Dodd kr 0.1700 kr 1.21 kr 1.69 54
Lynch FV kr 0.4200 kr 0.6100 kr 0.7900 50
PEG = 1.0 kr 0.4200 kr 0.6100 kr 0.7900 46
EPV kr 0.7300 kr 0.7700 kr 0.8100 59
Dividend Discount
Gordon GGM kr 0.8300 kr 1.40 kr 1.81 70
DDM Multi-Stage kr 0.8300 kr 1.33 kr 1.50 61
Multiples
P/E Multiple kr 0.3800 kr 0.5100 kr 0.6400 63
P/S Multiple kr 0.3200 kr 0.4300 kr 0.5400 58
P/B Multiple kr 0.3200 kr 0.4300 kr 0.5400 55
EV/EBIT kr 1.17 kr 1.45 kr 1.73 53
EV/EBITDA kr 0.9300 kr 1.13 kr 1.33 54
EV/Revenue kr 0.8900 kr 1.14 kr 1.38 43
Asset-Based
NCAV (Graham) kr 0.1500 kr 0.2000 kr 0.3000 50
Economic Profit
Residual Income kr 0.2300 kr 0.2500 kr 0.2500 76
ROIC Compounder kr 0.7300 kr 0.7700 kr 0.8100 72
Growth Earnings
Growth-Adj P/E kr 0.5400 kr 0.7700 kr 1.00 68

Widest divergence: Dividend Discount (kr 1.33) versus Asset-Based (kr 0.2000). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 36.8M SEK
Revenue growth (YoY) +12.6%
Net margin -0.8%
Return on equity -5.9%
Free cash flow −3.1M SEK FY2025
Operating margin -19.8%
More key figures
EPS growth (YoY) +109%
Net debt 8.2M SEK FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 48 · Market factors (momentum, volatility) 63

Profitability 48
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 67
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.

About the company

Klimator AB (publ), a software company, provides road weather information solutions to the winter maintenance and automotive markets in Sweden and internationally.

Full company description

Klimator AB (publ), a software company, provides road weather information solutions to the winter maintenance and automotive markets in Sweden and internationally. The company offers Road Condition Data (RCD), a cloud-based data-as-a service platform that provides insights on current and future road weather; and Road Status Information (RSI), a digital software-as-a-service application, which offers detailed forecasts for roads, bike paths, and pedestrian walkways. It also provides AHEAD, a sensor technology that analyses road conditions and friction in front of a moving vehicle in real-time; and Road Weather Station, an IoT platform, which provides real-time information on how weather impacts local road conditions. The company was founded in 1999 and is based in Gothenburg, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Klimator AB reported revenue of kr 36.3M in FY2025 versus kr 16.4M in FY2021, a compound +21.9%/yr. Reported net income was kr 892K in FY2025.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
36.3M SEK
Latest YoY
+37.6%
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.
+22.3%
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.
+38.5%
Avg. growth/yr (7Y) 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.
+17.7%
Revenue +21.9%/yr
FY21 kr 16.4M
FY22 kr 19.8M
FY23 kr 22.7M
FY24 kr 26.4M
FY25 kr 36.3M
Net income
FY21 −kr 22.9M
FY22 −kr 28.5M
FY23 −kr 15.8M
FY24 −kr 2.5M
FY25 kr 892K

KLIMAT screens 88% overvalued. Compare with SAP SE →

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

Peer Group

Software - Application · 709 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 47 · Below median
Fair Value upside −88% · Bottom 25%
Return on assets 3% · Above median
Net margin (TTM) -1% · Below median
Operating margin (TTM) -22% · Bottom 25%
Revenue growth 1% · Below median
Debt / equity 0.11× · Higher than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/B 1.36× · Cheaper than median
P/S (TTM) 0.39× · Cheaper than 75% of peers
EV/EBITDA 2.0× · Cheaper 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 0 · sector 0
FUTURE 5 · sector 38
PAST 0 · sector 13
HEALTH 95 · sector 98
DIVIDEND 0 · sector 28

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Klimator AB (KLIMAT) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of kr 0.4335 versus a price of kr 3.61, about −88% (overvalued).
What is the fair value of KLIMAT?
Our model-based fair value for Klimator AB is kr 0.4335 (as of Jul 11, 2026), built from audited fundamentals. The current price is kr 3.61.
What is the quality score of KLIMAT?
Klimator AB has a Quality Score of 47/100. 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 Klimator AB (KLIMAT)?
Klimator AB reported trailing-twelve-month revenue of about 36.8M SEK (latest available figure, as of Jul 11, 2026).
What is the net profit margin of KLIMAT?
The net profit margin of Klimator AB is about -0.8%, 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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