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Meds Apotek AB (MEDS) Fair Value & Analysis

Consumer Cyclical · SE · Market cap 514M SEK

MA Meds Apotek AB MEDS · ST
Pricekr 27.70
Fair Valuekr 9.15
Upside-67.0%
Quality46/100
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Expensive Growth
Thin margins · 1.4% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/12)
Narrow moat 34/100
Evidence: Medium Range kr 6.86 – kr 11.44 Share as image

Fair value as of: Aug 14, 2026

From 11 valuation models · updated today

Share price +28.2% over the past month.

Below-average quality, and screening another 67% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 11.44). The favourable scenario is already priced in.
  • Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (11 months)

kr 58.00 kr 20.50 Fair Value kr 9.15 Sep 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 14, 2026.

How to read this chart

11‑month range kr 20.50 – kr 58.00 · fair‑value band kr 6.86 – kr 11.44 · the kr 27.70 price screens above the kr 9.15 fair value. As of Aug 14, 2026.

Full chart & analysis →

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Analysis

Meds Apotek AB (MEDS) currently trades at kr 27.70, while our model-based Fair Value estimate is kr 9.15, implying the stock looks roughly 67.0% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Consumer Cyclical 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: medium).

Over the trailing twelve months, Meds Apotek AB generated revenue of 1.1B SEK at a net margin of 1.4%. Revenue grew 17.6% year over year. It earns a return on equity of 14.8%. The stock trades on a trailing P/E of 34.6. Fundamentals as of Aug 14, 2026

Our scenario range runs from kr 6.86 (bear case) to kr 11.44 (bull case); at kr 27.70, 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 64% below its 52-week high and 36% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -52% fair-value upside, at -67%, MEDS 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
Growth-Adj P/E kr 8.83 kr 12.61 kr 16.40 68
P/E Multiple kr 6.86 kr 9.15 kr 11.44 63
Residual Income kr 5.12 kr 5.16 kr 4.85 61
All 11 models by family
DCF Models
Owner Earnings kr 16.36 kr 31.30 kr 59.03 31
Earnings-Based
Graham-Dodd kr 2.83 kr 19.73 kr 27.69 54
Lynch FV kr 6.56 kr 9.37 kr 12.17 50
PEG = 1.0 kr 6.56 kr 9.37 kr 12.17 46
Multiples
P/E Multiple kr 6.86 kr 9.15 kr 11.44 63
P/S Multiple kr 5.30 kr 7.07 kr 8.84 58
P/B Multiple kr 5.30 kr 7.07 kr 8.84 55
EV/EBITDA kr 12.43 kr 15.76 kr 19.09 54
Asset-Based
NCAV (Graham) kr 3.46 kr 4.63 kr 6.91 50
Economic Profit
Residual Income kr 5.12 kr 5.16 kr 4.85 61
Growth Earnings
Growth-Adj P/E kr 8.83 kr 12.61 kr 16.40 68

Widest divergence: DCF Models (kr 31.30) versus Asset-Based (kr 4.63). Highest evidence: Growth-Adj P/E (68).

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Key figures & financial health

Revenue (TTM) 1.1B SEK
Revenue growth (YoY) +17.6%
Net margin 1.4%
Return on equity 14.8%
Free cash flow −28.8M SEK FY2025
P/E ratio 34.6
More key figures
Operating margin 1.9%
EPS (TTM) kr 0.8000
EPS growth (YoY) -12.9%

Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 47 · Market factors (momentum, volatility) 30

Profitability 56
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 15
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

Meds Apotek AB operates as an online pharmacy that sells prescription and non-prescription medicines in Sweden. The company offers various products, including beauty products, dietary supplements, children's products, facial care, vitamins and supplements, oral care for animals, pet accessories, fur care, allergy medicine, sunscreen and body sunscreen, eye …

Full company description

Meds Apotek AB operates as an online pharmacy that sells prescription and non-prescription medicines in Sweden. The company offers various products, including beauty products, dietary supplements, children's products, facial care, vitamins and supplements, oral care for animals, pet accessories, fur care, allergy medicine, sunscreen and body sunscreen, eye mask, sleep mask, earplugs, hearing aids, contact lenses, fitness products, electric toothbrush, heat tools for hair, food and drinks, and home & household products. The company was incorporated in 2016 and is based in Hägersten, Sweden.

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

Revenue & earnings trend

FY2023 – FY2025 · reported fiscal years

Meds Apotek AB reported revenue of kr 1.0B in FY2025 versus kr 655M in FY2023, a compound +23.9%/yr. Reported net income was kr 7.7M in FY2025.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.0B SEK
Latest YoY
+21.4%
Revenue +23.9%/yr
FY23 kr 655M
FY24 kr 829M
FY25 kr 1.0B
Net income
FY23 −kr 51.0M
FY24 −kr 10.4M
FY25 kr 7.7M

MEDS screens 67% overvalued. Compare with Amazon.com, Inc →

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Cite: Fair Value Calculator (2026). "Meds Apotek AB Fair Value". https://www.fairvalue-calculator.com/stock/MEDS

Peer Group

Internet Retail · 109 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 46 · Bottom 25%
Fair Value upside −67% · Bottom 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) 1% · Above median
Operating margin (TTM) 2% · Below median
Revenue growth 18% · Above median

Valuation Multiples vs Internet Retail median · lower = cheaper

P/E (TTM) 34.6× · Pricier than median
P/B 4.01× · Pricier than 75% of peers
P/S (TTM) 0.48× · Cheaper than median
EV/EBITDA 71.0× · Pricier 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 35
FUTURE 88 · sector 51
PAST 59 · sector 10
HEALTH 100 · sector 95
DIVIDEND 0 · sector 39

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.

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 Internet Retail stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).

Stock Price Fair Value vs Fair Value
Amazon.com, Inc AMZN $267.28 $127.67 -52%
Alibaba Group BABA $125.22 $76.00 -39%
PDD Holdings PDD $89.04 $224.27 +152%
MercadoLibre, Inc MELI $1,828 $798.98 -56%
DoorDash, Inc DASH $212.00 $38.64 -82%
Sea Limited SE $128.11 $52.70 -59%
eBay Inc EBAY $102.31 $60.13 -41%
JD.com, Inc JD €27.00 €31.73 +18%
Coupang, Inc CPNG $16.32 $2.79 -83%
Delivery Hero SE DHER €37.04 €12.71 -66%

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Frequently asked questions

Is Meds Apotek AB (MEDS) overvalued or undervalued?
As of Aug 14, 2026, our model estimates a fair value of kr 9.15 versus a price of kr 27.70, about −67% (overvalued).
What is the fair value of MEDS?
Our model-based fair value for Meds Apotek AB is kr 9.15 (as of Aug 14, 2026), built from audited fundamentals. The current price is kr 27.70.
What is the quality score of MEDS?
Meds Apotek AB has a Quality Score of 46/100. 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 Meds Apotek AB (MEDS)?
Meds Apotek AB reported trailing-twelve-month revenue of about 1.1B SEK (latest available figure, as of Aug 14, 2026).
What is the net profit margin of MEDS?
The net profit margin of Meds Apotek AB is about 1.4%, meaning it keeps roughly 1.4% of revenue as net income. 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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