MIPS AB (MIPS) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of MIPS AB SEK 190, price SEK 378, upside -49.9%, quality 69 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
60‑month range kr 210.18 – kr 1,162 · fair‑value band kr 119.06 – kr 314.84 · the kr 378.00 price screens above the kr 189.58 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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Mips AB (publ) develops, manufactures, and sells helmet-based safety systems in North America, Europe, Sweden, Asia, and Australia.
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Mips AB (publ) develops, manufactures, and sells helmet-based safety systems in North America, Europe, Sweden, Asia, and Australia. The company provides sport helmets, which include bike, snow, equestrian, and team sports helmets, as well as other helmets, such as climbing, snowmobiling, and white-water rafting helmets; moto helmets comprising on-road and off-road helmets, including scooter, snowmobiling, car driving, and other helmets for travel and high speed activities; and safety helmets for construction, manufacturing, mining, and oil industries, as well as military, police force, and rescue services. Mips AB (publ) company was founded in 1996 and is headquartered in Täby, Sweden.
Stock analysis
MIPS AB (MIPS) currently trades at kr 378.00, while our model-based Fair Value estimate is kr 189.58, implying the stock looks roughly 99.4% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 155.57 per share, and 0 of the 24 models we run sit above the kr 378.00 price.
Bear case: the Economic Profit group reads lowest at kr 34.30, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 119.06 (bear) to kr 314.84 (bull), the price of kr 378.00 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 69/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
MIPS AB reported revenue of 533M SEK in FY2025 versus 608M SEK in FY2021, a compound −3.2%/yr. Reported net income was 120M SEK in FY2025, compounding −17.2%/yr from FY2021.
Key figures
Market cap 10.0B SEK (≈ $1.0B) · P/E ratio 60.2 · P/S ratio 13.6 · EPS (TTM) kr 6.28 · Dividend yield 0.7% · Net margin 22.5% · Return on equity 20.8% · Return on assets (EBIT) 23.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 14% below its 52-week high and 80% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 38% fair-value upside, at −50%, MIPS screens richer than that median.
Fair Value models
Bear kr 119.06Fair Value kr 189.58Bull kr 314.84
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 2.77 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.86/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.4%
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.
−1.8%
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.
+7.9%
Start year 2020 (pandemic). Over 10 years: +26.8% a year
Revenue growth 11 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.
+38.5%
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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.
−1.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.7%
Dividend (yield on the price)0.7%
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.−2% vs 21%, slowing
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.46% → 29%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+43.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+29.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +40.5% a year for the price and +27.3% for the forecasts.
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.Leisure · 189 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside−36% · Below median
Profitability
Return on equity (TTM)21% · Top 25%
Return on assets12% · Top 25%
Net margin (TTM)23% · Top 25%
Operating margin (TTM)28% · Top 25%
Growth and dividend
Revenue growth30% · Top 25%
Dividend yield (TTM)0.7% · Bottom 25%
Balance sheet
Debt / equity0.54× · Highest 25%
Valuation Multiplesvs Leisure median · lower = cheaper
P/E (TTM)60.2× · Priciest 25%
P/B17.82× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM)17.63× · Priciest 25%
P/FCF7.3× · Pricier than median
EV/EBITDA49.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 43
FUTURE (revenue growth)100· sector 14
PAST (return on equity)83· sector 19
HEALTH (low debt)73· sector 94
DIVIDEND (yield)13· sector 57
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). "MIPS AB Fair Value". https://www.fairvalue-calculator.com/stock/MIPS
Frequently asked questions
Is MIPS AB (MIPS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 189.58 versus a price of kr 378.00, about −50% upside (overvalued).
What is the fair value of MIPS?
Our model-based fair value for MIPS AB is kr 189.58 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 378.00.
What is the quality score of MIPS?
MIPS AB has a Quality Score of 69/100. 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 MIPS AB (MIPS)?
Our model-based price target is the fair value of kr 189.58 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario kr 119.06, optimistic scenario kr 314.84. It is a calculation from audited fundamentals, not an analyst target.
What is the MIPS AB stock forecast for 2026?
Our models put fair value at kr 189.58, about −50% upside versus a price of kr 378.00 (overvalued). Cautious scenario kr 119.06, optimistic scenario kr 314.84. The calculation is refreshed regularly with new filings.
What is the revenue of MIPS AB (MIPS)?
MIPS AB reported trailing-twelve-month revenue of about 568M SEK (latest available figure, as of Sep 24, 2026).
Does MIPS AB pay a dividend?
MIPS AB currently shows a dividend yield of about 0.66% relative to its recent price (as of Sep 24, 2026).
What growth is priced into MIPS AB (MIPS)?
For today's price to be fair in a discounted-cash-flow model, MIPS AB would have to grow free cash flow by +43.3 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MIPS use?
Our models discount MIPS AB at 12.6 %: a base by market capitalisation (small), damped by beta 1.59, 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 MIPS AB that is +43.3 % per year a year over ten years, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has MIPS AB (MIPS) delivered so far?
Over the past 5 years revenue at MIPS AB grew +7.9 % a year. The price currently implies +43.3 % 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 MIPS AB (MIPS) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into MIPS AB (+43.3 % 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 MIPS AB (MIPS)?
The free-cash-flow yield on the price is 1.38 %: that much free cash flow MIPS AB produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of MIPS AB (MIPS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MIPS AB it is kr 189.58 per share (as of Sep 24, 2026), against a price of kr 378.00. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is MIPS AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MIPS trades above its calculated fair value: price kr 378.00, fair value kr 189.58, a gap of about −50% (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 MIPS?
No. The price is what the market pays today (kr 378.00); the fair value is what the company's own numbers justify (kr 189.58). For MIPS AB the two are kr 188.42 per share apart. That gap is exactly why we show both numbers side by side.
How much is MIPS AB worth?
The market values MIPS AB at about 10.0B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 378.00; our models calculate a fair value of kr 189.58 per share.
What do the bullish and bearish scenarios say about MIPS?
Our models span a range for MIPS AB: cautious scenario kr 119.06, base kr 189.58, optimistic kr 314.84 per share (as of Sep 24, 2026, price kr 378.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MIPS?
MIPS AB trades at a price-to-earnings ratio of 60.2 (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 189.58 is built from several models across several years. Other multiples: P/B 17.8, P/S 17.6, EV/EBITDA 49.3.
How solid is the balance sheet of MIPS AB (MIPS)?
Balance-sheet figures for MIPS AB (as of Sep 24, 2026): return on equity 20.8%, debt of 0.54 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is MIPS from its 52-week high?
MIPS AB trades at kr 378.00, about 14% below its 52-week high of kr 439.80 and 80% above the low of kr 210.18 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 189.58 is for.
Which stocks are comparable to MIPS AB?
From the same area (Consumer Cyclical) we also value ANTA Sports Products Limited, Pop Mart International Group, Amer Sports, Inc, Hasbro, 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 MIPS AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 378.00, calculated fair value kr 189.58 (−50%), Quality Score 69/100, 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 MIPS calculated?
We run MIPS 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 189.58, 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 14.1 % above its aggregate fair value. MIPS 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 MIPS AB (MIPS)?
The closing price on Sep 23, 2026 was kr 378.00. Our model-based fair value is kr 189.58, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MIPS AB right now?
The price sits above even our optimistic bull case (kr 314.84). The favourable scenario is already priced in. The model range is unusually wide (kr 119.06 to kr 314.84). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of MIPS AB
How large is the market capitalisation of MIPS AB (MIPS)?
The market capitalisation of MIPS AB is 10.0B SEK (≈ $1.0B). 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 MIPS AB (MIPS)?
The price-to-sales ratio of MIPS AB is 13.6 (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 MIPS AB (MIPS)?
Earnings per share at MIPS AB are kr 6.28 (price ÷ EPS = P/E 60.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of MIPS AB (MIPS)?
The dividend yield of MIPS AB is 0.7% (payout 39.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of MIPS AB (MIPS)?
The net margin of MIPS AB is 22.5% (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 MIPS AB (MIPS)?
The return on equity (ROE) of MIPS AB is 20.8% (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 MIPS AB (MIPS)?
On an EBIT basis the return on assets of MIPS AB is 23.6% (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 MIPS AB (MIPS)?
The operating margin of MIPS AB is 27.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MIPS AB (MIPS)?
Revenue at MIPS AB is growing +30.2% versus a year earlier (3y avg −1.8%). 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 MIPS AB (MIPS)?
Earnings per share at MIPS AB are growing +53.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does MIPS AB (MIPS) carry?
The net debt of MIPS AB is 113M SEK (fiscal year 2025, ≈ 0.8 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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