MedCap AB (publ) (MCAP) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of MedCap AB (publ) stock SEK 595, price SEK 553, upside +7.6%, quality 59 out of 100. Rating: fairly valued. 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. As of Oct 29, 2026.
How to read this chart
60‑month range kr 137.40 – kr 670.00 · fair‑value band kr 416.56 – kr 773.64 · the kr 553.00 price screens below the kr 595.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 29, 2026.
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MedCap AB (publ) is a private equity firm specializing in investments in secondary direct, later stage, industry consolidation, add-on acquisitions, growth capital, middle market, mature, turnarounds, and buyout.
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It prefers to invest in Biotechnology; Life sciences; Pharmaceuticals; MedTech including healthcare equipment, software, components, and packaging solutions for life science products; and Assistive Tech including digital and physical solutions in cognition, communication, environmental control, alarms, mobility, accessibility, and orthotics.
The firm prefers to invest in small to medium size companies that are not listed on the stock exchange and are based in Nordic region and Northern Europe.
It typically invests between SEK25 million ($2.75 million) and SEK150 million ($16.51 million) with enterprise value SEK50 million ($5.90 million) and SEK250 million ($23.06 million) and sales value between "5 million ($5.43 million) and "25 million ($27.18 million) and EBITDA between SEK1 million ($0.11 million) and SEK50 million ($5.50 million).
The firm seeks to takes both minority and majority stakes. It uses its capital and loans and makes balance sheet investments. MedCap AB (publ) was founded in 2001 and is based in Stockholm, Sweden.
Stock analysis
MedCap AB (publ) (MCAP) currently trades at kr 553.00, while our model-based Fair Value estimate is kr 595.10, so the stock looks roughly fairly valued today (gap 7.1%).
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 462.27 per share, and 3 of the 24 models we run sit above the kr 553.00 price.
Bear case: the Economic Profit group reads lowest at kr 123.54, and 21 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: kr 416.56 (bear) to kr 773.64 (bull), the price of kr 553.00 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 59/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
MedCap AB (publ) reported revenue of 2.1B SEK in FY2025 versus 916M SEK in FY2021, a compound +23.2%/yr. Reported net income was 220M SEK in FY2025, compounding +22.8%/yr from FY2021.
Key figures
Market cap 8.3B SEK (≈ $844M) Small · P/E ratio 30.2 · P/S ratio 3.49 · EPS (TTM) kr 18.30 · Net margin 11.6% · Return on equity 17.6% · Return on assets (EBIT) 12.3% · Operating margin 20.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 64 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −9% fair-value upside, at 8%, MCAP screens cheaper than that median.
Fair Value models
Bearkr 416.56Fair Value kr 595.10Bullkr 773.64
Price kr 553.00 · Upside +7.6%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 15.34 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. 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+16.7%
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.
+23.8%
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.
+20.9%
Start year 2020 (pandemic). Over 10 years: +9.9% a year
Revenue growth 18 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.
+14.3%
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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.
+28.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+28.1%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 28.1% / 36.9%
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.11% → 14%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
+16.2%
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 +13.9% 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.Medical Devices · 319 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+7.6% · Above median
Profitability
Return on equity (12 months)17.6% · Top 25%
Return on assets8.4% · Top 25%
Net margin (12 months)11.6% · Above median
Operating margin (12 months)20.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)20.4% · Top 25%
Balance sheet
Debt / equity0.11× · Above median
Valuation Multiplesvs Medical Devices 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). "MedCap AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/MCAP.ST
Frequently asked questions
Is MedCap AB (publ) (MCAP) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of kr 595.10 versus a price of kr 553.00, about +8% upside (fairly valued).
What is the fair value of MCAP?
Our model-based fair value for MedCap AB (publ) is kr 595.10 (as of Oct 29, 2026), built from audited fundamentals. The current price: kr 553.00.
What is the quality score of MCAP?
MedCap AB (publ) has a Quality Score of 59/100. 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 MedCap AB (publ) (MCAP)?
Our model-based price target is the fair value of kr 595.10 (as of Oct 29, 2026) from 24 valuation models. Cautious scenario kr 416.56, optimistic scenario kr 773.64. It is a calculation from audited fundamentals, not an analyst target.
What is the MedCap AB (publ) stock forecast for 2026?
Our models put fair value at kr 595.10, about +8% upside versus a price of kr 553.00 (fairly valued). Cautious scenario kr 416.56, optimistic scenario kr 773.64. The calculation is refreshed regularly with new filings.
What is the revenue of MedCap AB (publ) (MCAP)?
MedCap AB (publ) reported trailing-twelve-month revenue of about 2.4B SEK (latest available figure, as of Oct 29, 2026).
What growth is priced into MedCap AB (publ) (MCAP)?
For today's price to be fair in a discounted-cash-flow model, MedCap AB (publ) would have to grow free cash flow by +16.2 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +20.9 % per year. As of Oct 29, 2026.
What discount rate (WACC) does the fair value of MCAP use?
Our models discount MedCap AB (publ) at 9.6 %: a base by market capitalisation (small), damped by beta 0.47, 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 MedCap AB (publ) that is +16.2 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has MedCap AB (publ) (MCAP) delivered so far?
Over the past 5 years revenue at MedCap AB (publ) grew +20.9 % a year. The price currently implies +16.2 % 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 MedCap AB (publ) (MCAP) growing?
The median revenue growth in the sector is +6.4 % a year. That is the yardstick for the growth priced into MedCap AB (publ) (+16.2 % 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 MedCap AB (publ) (MCAP)?
The free-cash-flow yield on the price is 3.39 %: that much free cash flow MedCap AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of MedCap AB (publ) (MCAP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MedCap AB (publ) it is kr 595.10 per share (as of Oct 29, 2026), against a price of kr 553.00. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is MedCap AB (publ) stock overvalued or undervalued in 2026?
As of Oct 29, 2026, MCAP trades below its calculated fair value: price kr 553.00, fair value kr 595.10, a gap of about +8% (fairly valued). 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 MCAP?
No. The price is what the market pays today (kr 553.00); the fair value is what the company's own numbers justify (kr 595.10). For MedCap AB (publ) the two are kr 42.10 per share apart. That gap is exactly why we show both numbers side by side.
How much is MedCap AB (publ) worth?
The market values MedCap AB (publ) at about 8.3B SEK (market capitalisation, as of Oct 29, 2026). Per share that is kr 553.00; our models calculate a fair value of kr 595.10 per share.
What do the bullish and bearish scenarios say about MCAP?
Our models span a range for MedCap AB (publ): cautious scenario kr 416.56, base kr 595.10, optimistic kr 773.64 per share (as of Oct 29, 2026, price kr 553.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MCAP?
MedCap AB (publ) trades at a price-to-earnings ratio of 30.2 (as of Oct 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 595.10 is built from several models across several years. Other multiples: P/B 5.7, P/S 3.5, EV/EBITDA 15.8.
How solid is the balance sheet of MedCap AB (publ) (MCAP)?
Balance-sheet figures for MedCap AB (publ) (as of Oct 29, 2026): return on equity 17.6%, debt of 0.11 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is MCAP from its 52-week high?
MedCap AB (publ) trades at kr 553.00, about 11% below its 52-week high of kr 623.00 and 22% above the low of kr 453.00 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of kr 595.10 is for.
Which stocks are comparable to MedCap AB (publ)?
From the same area (Healthcare) we also value Abbott Laboratories,, Medtronic plc, Stryker Corporation, Boston Scientific 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 MedCap AB (publ) stock attractive at the current price?
The data as of Oct 29, 2026: price kr 553.00, calculated fair value kr 595.10 (+8%), Quality Score 59/100, 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 MCAP calculated?
We run MedCap AB (publ) 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 595.10, 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 14.9 % above its aggregate fair value. MedCap AB (publ) currently trades 7 % 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 MedCap AB (publ) (MCAP)?
The closing price on Oct 30, 2026 was kr 553.00. Our model-based fair value is kr 595.10, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MedCap AB (publ) right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (kr 416.56 to kr 773.64) leaves room in how you read the outcome.
Where does the earnings growth of MedCap AB (publ) (MCAP) come from?
Earnings per share at MedCap AB (publ) grew +30.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.5 %, EBIT margin +20.0 %, tax rate −0.5 %, residual (interest, one-offs) +2.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of MedCap AB (publ)
How large is the market capitalisation of MedCap AB (publ) (MCAP)?
The market capitalisation of MedCap AB (publ) is 8.3B SEK (≈ $844M). 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 MedCap AB (publ) (MCAP)?
The price-to-sales ratio of MedCap AB (publ) is 3.49 (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 MedCap AB (publ) (MCAP)?
Earnings per share at MedCap AB (publ) are kr 18.30 (price ÷ EPS = P/E 30.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of MedCap AB (publ) (MCAP)?
The net margin of MedCap AB (publ) is 11.6% (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 MedCap AB (publ) (MCAP)?
The return on equity (ROE) of MedCap AB (publ) is 17.6% (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 MedCap AB (publ) (MCAP)?
On an EBIT basis the return on assets of MedCap AB (publ) is 12.3% (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 MedCap AB (publ) (MCAP)?
The operating margin of MedCap AB (publ) is 20.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MedCap AB (publ) (MCAP)?
Revenue at MedCap AB (publ) is growing +20.4% versus a year earlier (3y avg +23.8%). 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 MedCap AB (publ) (MCAP)?
Earnings per share at MedCap AB (publ) are growing +66.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does MedCap AB (publ) (MCAP) carry?
The net debt of MedCap AB (publ) is 337M SEK (fiscal year 2025, ≈ 1.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Oct 29, 2026