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Moberg Pharma AB (publ) (MOB) Fair Value & Analysis

Healthcare · SE · Market cap 443M SEK (≈ $46.3M) · ISIN SE0020353928

MP Moberg Pharma AB (publ) MOB · ST
Pricekr 10.92
Fair Valuekr 3.98
Upside-63.6%
Quality28/100
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Risks

!Trades 174% ABOVE our fair value of kr 3.98
!Weak Growth (revenue 5y −16.7 %/yr)
!Thin margins · 0.0% net margin
!Low debt · negative free cash flow
Weak Growth (revenue 5y −16.7 %/yr)
Thin margins · 0.0% net margin
Low debt · negative free cash flow
Trails peers (3/9)
Narrow moat 11/100
Evidence: Low Range kr 2.63 – kr 4.97 Share as image

Fair value as of: Aug 23, 2026

From 1 valuation models · updated 8 days ago

Share price +11.8% over the past month.

Below-average quality, and trading another 174% above our fair value.

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What matters now

  • The price sits above even our optimistic bull case (kr 4.97). The favourable scenario is already priced in.
  • Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (kr 2.63 to kr 4.97) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 47.06 kr 4.13 Fair Value kr 3.98 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range kr 4.13 – kr 47.06 · fair‑value band kr 2.63 – kr 4.97 · the kr 10.92 price screens above the kr 3.98 fair value. Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

Moberg Pharma AB (publ) (MOB) currently trades at kr 10.92, while our model-based Fair Value estimate is kr 3.98, implying the stock looks roughly 63.6% overvalued today. The Quality Score stands at 28/100 (below-average quality), in the Healthcare 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: low).

Revenue grew 101.4% year over year. It earns a return on equity of -4.0%. The balance sheet holds a net cash position of 228M SEK. Fundamentals as of Aug 23, 2026

Our scenario range runs from kr 2.63 (bear case) to kr 4.97 (bull case); at kr 10.92, 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 23% below its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -45% fair-value upside, at -64%, MOB 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
NCAV (Graham) best evidence kr 7.05 kr 9.45 kr 14.10 54
All 1 models by family
Asset-Based
NCAV (Graham) best evidence kr 7.05 kr 9.45 kr 14.10 54

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Key figures & financial health

EPS (TTM) kr -0.5500
Return on equity -4.0% TTM
Return on assets (EBIT) -12.5% avg 5y
Revenue growth (YoY) +101% 3y avg +303%
EPS growth (YoY) -78.7%
Free cash flow −60.7M SEK FY2025
More key figures
Balance sheet & cash flow
Net cash 228M SEK FY2025

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 28/100

Of which business quality 33 · Market factors (momentum, volatility) 53

Profitability 2
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 43
Disciplined investing over empire-building
Low Volatility 45
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 61
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Moberg Pharma AB (publ), a pharmaceutical company, develops and commercializes medical products primarily in Sweden. It offers MOB-015 for the treatment of nail fungus under the Terclara brand. The company was formerly known as Moberg Derma AB (publ) and changed its name to Moberg Pharma AB (publ) in May 2013.

Full company description

Moberg Pharma AB (publ), a pharmaceutical company, develops and commercializes medical products primarily in Sweden. It offers MOB-015 for the treatment of nail fungus under the Terclara brand. The company was formerly known as Moberg Derma AB (publ) and changed its name to Moberg Pharma AB (publ) in May 2013. It has license agreement with Karo Healthcare for distribution in European market. Moberg Pharma AB (publ) was incorporated in 2006 and is based in Bromma, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Moberg Pharma AB (publ) reported revenue of kr 13.5M in FY2025 versus kr 210M in FY2021, a compound −49.6%/yr. Reported net income was −kr 27.2M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
13.5M SEK
Latest YoY
+38.0%
Avg. revenue 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.
−16.7%
Avg. revenue growth/yr (16Y) 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.
+14.2%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −49.6%/yr
FY21 kr 210M
FY22 kr 207K
FY23 kr 273M
FY24 kr 9.8M
FY25 kr 13.5M
Net income
FY21 −kr 16.2M
FY22 −kr 15.7M
FY23 −kr 21.1M
FY24 −kr 255M
FY25 −kr 27.2M

MOB screens 174% overvalued. Compare with Merck KGaA →

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Cite: Fair Value Calculator (2026). "Moberg Pharma AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/MOB

Peer Group

Drug Manufacturers - Specialty & Generic · 637 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 33 · Bottom 25%
Fair Value upside −64% · Bottom 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) 0% · Below median
Revenue growth 101% · Top 25%

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/B 0.07× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 4
FUTURE100 · sector 21
PAST0 · sector 23
HEALTH100 · sector 97
DIVIDEND0 · sector 29

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

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €140.25 €106.48 -24%
Takeda Pharmaceutical Company TAK $18.03 $11.11 -38%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.76 ¥25.94 -52%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 -49%
Galderma Group GALD CHF 178.55 CHF 55.07 -69%
Haleon plc HLN $10.11 $7.64 -24%
Teva Pharmaceutical Industries Limited TEVA $37.92 $15.33 -60%
Sandoz Group SDZ CHF 70.66 CHF 39.21 -45%
Zoetis Inc ZTS $77.52 $104.88 +35%
Hansoh Pharmaceutical Group 3692 HK$33.50 HK$16.14 -52%

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Frequently asked questions

Is Moberg Pharma AB (publ) (MOB) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of kr 3.98 versus a price of kr 10.92, about −64% (overvalued).
What is the fair value of MOB?
Our model-based fair value for Moberg Pharma AB (publ) is kr 3.98 (as of Aug 23, 2026), built from audited fundamentals. The current price: kr 10.92.
What is the quality score of MOB?
Moberg Pharma AB (publ) has a Quality Score of 28/100. 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 net profit margin of MOB?
The net profit margin of Moberg Pharma AB (publ) is about 0.0%, meaning it keeps roughly 0.0% 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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