LumenRadio AB (LUMEN) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of LumenRadio AB SEK 35.83, price SEK 50.60, upside -29.2%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
46‑month range kr 47.20 – kr 156.80 · fair‑value band kr 23.47 – kr 46.58 · the kr 50.60 price screens above the kr 35.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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LumenRadio AB (publ), a technology company, develops and sells wireless product-to-product connections in Sweden. It offers end-user products, radio modules, and software solutions.
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LumenRadio AB (publ), a technology company, develops and sells wireless product-to-product connections in Sweden. It offers end-user products, radio modules, and software solutions. The company's products include wireless DMX; wireless DALI; wireless Modbus; wireless Mesh; and wireless BACnet, as well as AirGlow outdoor wireless mesh controller under the LumenRadio, Radiocrafts, Wireless Solution brands. Its products are used in entertainment lighting, theater lightning, indoor lightning, street lightning, architectural lightning, HVAC and building automation, solar and EV installations, and industrial IoT applications. The company was incorporated in 2008 and is headquartered in Gothenburg, Sweden.
Stock analysis
LumenRadio AB (LUMEN) currently trades at kr 50.60, while our model-based Fair Value estimate is kr 35.83, implying the stock looks roughly 41.2% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 35.91 per share, and 5 of the 24 models we run sit above the kr 50.60 price.
Bear case: the Asset-Based group reads lowest at kr 13.67, and 19 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 23.47 (bear) to kr 46.58 (bull), the price of kr 50.60 sits above 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 51/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
LumenRadio AB reported revenue of 243M SEK in FY2025 versus 127M SEK in FY2021, a compound +17.5%/yr. Reported net income was 19.1M SEK in FY2025, compounding −6.0%/yr from FY2021.
Key figures
Market cap 778M SEK (≈ $78.3M) · P/E ratio 28.8 · P/S ratio 2.26 · EPS (TTM) kr 1.76 · Net margin 7.9% · Return on equity 9.5% · Return on assets (EBIT) 15.8% · Operating margin 11.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −62% fair-value upside, at −29%, LUMEN screens cheaper than that median.
Fair Value models
Bear kr 23.47Fair Value kr 35.83Bull kr 46.58
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 1.29 per share) are deliberately not added.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 ⓘEvidence = 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.70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−0.7%
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.
+6.6%
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.
+33.1%
Start year 2020 (pandemic)
Revenue growth 6 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.
+22.0%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+6.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.2%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.−15% → 10%
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+42.1%
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 +39.3% 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.Communication Equipment · 316 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−29% · Above median
Profitability
Return on equity (TTM)9% · Above median
Return on assets5% · Top 25%
Net margin (TTM)9% · Top 25%
Operating margin (TTM)11% · Above median
Growth and dividend
Revenue growth3% · Below median
Valuation Multiplesvs Communication Equipment median · lower = cheaper
P/E (TTM)28.8× · Cheaper than median
P/B3.03× · Pricier than median
P/S (TTM)3.10× · Pricier than median
P/FCF12.5× · Pricier than median
EV/EBITDA15.9× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)16· sector 37
PAST (return on equity)38· sector 15
HEALTH (low debt)100· sector 98
DIVIDEND (yield)0· sector 23
VALUE 0: the price sits above our fair-value range.
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). "LumenRadio AB Fair Value". https://www.fairvalue-calculator.com/stock/LUMEN
Frequently asked questions
Is LumenRadio AB (LUMEN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 35.83 versus a price of kr 50.60, about −29% upside (overvalued).
What is the fair value of LUMEN?
Our model-based fair value for LumenRadio AB is kr 35.83 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 50.60.
What is the quality score of LUMEN?
LumenRadio AB has a Quality Score of 51/100. 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 LumenRadio AB (LUMEN)?
Our model-based price target is the fair value of kr 35.83 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario kr 23.47, optimistic scenario kr 46.58. It is a calculation from audited fundamentals, not an analyst target.
What is the LumenRadio AB stock forecast for 2026?
Our models put fair value at kr 35.83, about −29% upside versus a price of kr 50.60 (overvalued). Cautious scenario kr 23.47, optimistic scenario kr 46.58. The calculation is refreshed regularly with new filings.
What is the revenue of LumenRadio AB (LUMEN)?
LumenRadio AB reported trailing-twelve-month revenue of about 251M SEK (latest available figure, as of Sep 24, 2026).
What growth is priced into LumenRadio AB (LUMEN)?
For today's price to be fair in a discounted-cash-flow model, LumenRadio AB would have to grow free cash flow by +42.1 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +33.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of LUMEN use?
Our models discount LumenRadio AB at 11.0 %: a base by market capitalisation (micro), damped by beta 0.14, 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 LumenRadio AB that is +42.1 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has LumenRadio AB (LUMEN) delivered so far?
Over the past 5 years revenue at LumenRadio AB grew +33.1 % a year. The price currently implies +42.1 % 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 LumenRadio AB (LUMEN) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into LumenRadio AB (+42.1 % 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 LumenRadio AB (LUMEN)?
The free-cash-flow yield on the price is 0.97 %: that much free cash flow LumenRadio AB produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of LumenRadio AB (LUMEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LumenRadio AB it is kr 35.83 per share (as of Sep 24, 2026), against a price of kr 50.60. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is LumenRadio AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, LUMEN trades above its calculated fair value: price kr 50.60, fair value kr 35.83, a gap of about −29% (overvalued). 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 LUMEN?
No. The price is what the market pays today (kr 50.60); the fair value is what the company's own numbers justify (kr 35.83). For LumenRadio AB the two are kr 14.77 per share apart. That gap is exactly why we show both numbers side by side.
How much is LumenRadio AB worth?
The market values LumenRadio AB at about 778M SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 50.60; our models calculate a fair value of kr 35.83 per share.
What do the bullish and bearish scenarios say about LUMEN?
Our models span a range for LumenRadio AB: cautious scenario kr 23.47, base kr 35.83, optimistic kr 46.58 per share (as of Sep 24, 2026, price kr 50.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LUMEN?
LumenRadio AB trades at a price-to-earnings ratio of 28.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 35.83 is built from several models across several years. Other multiples: P/B 3.0, P/S 3.1, EV/EBITDA 15.9.
How solid is the balance sheet of LumenRadio AB (LUMEN)?
Balance-sheet figures for LumenRadio AB (as of Sep 24, 2026): return on equity 9.5%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is LUMEN from its 52-week high?
LumenRadio AB trades at kr 50.60, about 29% below its 52-week high of kr 71.40 and 7% above the low of kr 47.30 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 35.83 is for.
Which stocks are comparable to LumenRadio AB?
From the same area (Technology) we also value Cisco Systems, Inc, Foxconn Industrial Internet Co, Zhongji Innolight Co, Eoptolink Technology Inc, 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 LumenRadio AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 50.60, calculated fair value kr 35.83 (−29%), Quality Score 51/100, from 24 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 LUMEN calculated?
We run LumenRadio AB through 24 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 35.83, 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 14.0 % above its aggregate fair value. LumenRadio AB itself currently trades above fair value. 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 LumenRadio AB (LUMEN)?
The closing price on Sep 24, 2026 was kr 50.60. Our model-based fair value is kr 35.83, about −29% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LumenRadio AB right now?
The price sits above even our optimistic bull case (kr 46.58). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 23.47 to kr 46.58) leaves room in how you read the outcome.
Key figures of LumenRadio AB
How large is the market capitalisation of LumenRadio AB (LUMEN)?
The market capitalisation of LumenRadio AB is 778M SEK (≈ $78.3M). 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 LumenRadio AB (LUMEN)?
The price-to-sales ratio of LumenRadio AB is 2.26 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of LumenRadio AB (LUMEN)?
Earnings per share at LumenRadio AB are kr 1.76 (price ÷ EPS = P/E 28.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of LumenRadio AB (LUMEN)?
The net margin of LumenRadio AB is 7.9% (fiscal year 2025). 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 LumenRadio AB (LUMEN)?
The return on equity (ROE) of LumenRadio AB is 9.5% (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 LumenRadio AB (LUMEN)?
On an EBIT basis the return on assets of LumenRadio AB is 15.8% (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 LumenRadio AB (LUMEN)?
The operating margin of LumenRadio AB is 11.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LumenRadio AB (LUMEN)?
Revenue at LumenRadio AB is growing +3.2% versus a year earlier (3y avg +6.6%). 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 LumenRadio AB (LUMEN)?
Earnings per share at LumenRadio AB are growing +10.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does LumenRadio AB (LUMEN) hold?
LumenRadio AB holds more cash than debt, 101M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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