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NanoCap Group (NANOC-B) Fair Value & Analysis

Financial Services · SE · Market cap 25.5M SEK (≈ $2.7M) · ISIN SE0004020931

What is NanoCap Group really worth?

NG NanoCap Group NANOC-B · ST
Pricekr 4.28
Fair Valuekr 7.06
Upside+65.0%
Quality38/100

Below-average quality, trading 39% below our fair value of kr 7.06.

As of Aug 30, 2026, the fair value of NanoCap Group is kr 7.06 per share against a price of kr 4.28, so the fair value sits 65% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

generates free cash flow

Risks

!Weak Growth
!Loss over the last twelve months · -48.9% net margin · fiscal year 2025 100.1%
!Mixed vs. peers (5/11)
!Narrow moat 11/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range kr 5.29 – kr 8.82

Fair value as of: Aug 30, 2026

From 2 valuation models · updated 6 days ago

Share price +0.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (kr 5.29). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

kr 44.37 kr 3.08 Fair Value kr 7.06 Jan 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range kr 3.08 – kr 44.37 · fair‑value band kr 5.29 – kr 8.82 · the kr 4.28 price screens below the kr 7.06 fair value. Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

NanoCap Group (NANOC-B) currently trades at kr 4.28, while our model-based Fair Value estimate is kr 7.06, implying the stock looks roughly 39.4% undervalued today. The Quality Score stands at 38/100 (below-average quality), in the Financial Services sector. How firm this estimate is: it rests on 4 models at a data quality of 93/100, which puts the evidence level at low.

Over the trailing twelve months, NanoCap Group generated revenue of 43.4M SEK at a net margin of −53.3%. Revenue grew 46.7% year over year. It earns a return on equity of −43.7%. Fundamentals as of Aug 30, 2026

Our scenario range runs from kr 5.29 (bear case) to kr 8.82 (bull case); at kr 4.28, the current price sits below 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 44% below its 52-week high and 43% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at 65%, NANOC-B screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
P/B Multiple best evidence kr 5.30 kr 7.07 kr 8.84 55
NCAV (Graham) kr 4.16 kr 5.57 kr 8.32 51
All 2 models by family
Multiples
P/B Multiple best evidence kr 5.30 kr 7.07 kr 8.84 55
Asset-Based
NCAV (Graham) kr 4.16 kr 5.57 kr 8.32 51

Widest divergence: Multiples (kr 7.07) versus Asset-Based (kr 5.57). Highest evidence: P/B Multiple (55).

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Key figures & financial health

P/S ratio 0.66 TTM
EPS (TTM) kr −4.05
Dividend yield 3.6%
Net margin −53.3% TTM
Return on equity −43.7% TTM
Return on assets (EBIT) −37.6% avg 5y
More key figures
Profitability
Operating margin 9.9% TTM
Growth
Revenue (TTM) 43.4M SEK TTM
Revenue growth (YoY) +46.7%
EPS growth (YoY) +11.3%
Balance sheet & cash flow
Free cash flow 650K SEK FY2025

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 40 · Market factors (momentum, volatility) 28

Profitability 20
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 28
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 40
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

NanoCap Group AB (publ), previously known as New Equity Venture International AB, is a private equity, venture capital and family ownership firm, specializing in early venture, middle venture and late venture, bridge, mature and growth stage investments.

Full company description

NanoCap Group AB (publ), previously known as New Equity Venture International AB, is a private equity, venture capital and family ownership firm, specializing in early venture, middle venture and late venture, bridge, mature and growth stage investments. It usually invests in both listed and unlisted companies that are mainly into high-end technologies, as well as SaaS for e-commerce. The firm invests in companies that are based in in the regions of Scandinavia, Sweden, United Kingdom and United States. It also acts as an advisor for companies in its holding. The firm was formerly known as Stureguld AB, after that, New Equity Venture International AB, and in November 2021, it changed its name to NanoCap Group AB (publ). NanoCap Group AB (publ) was founded in 2010 and is headquartered in Stockholm, Sweden with additional offices in New York, New York; London, United Kingdom and Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NanoCap Group reported revenue of −23.1M SEK in FY2025 versus 49.6M SEK in FY2021. Reported net income was −23.1M SEK in FY2025.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2021)
49.6M SEK
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
FY21 49.6M SEK
FY22 −16.1M SEK
FY23 −2.8M SEK
FY24 −15.8M SEK
FY25 −23.1M SEK
Net income
FY21 7.0M SEK
FY22 −57.7M SEK
FY23 −27.2M SEK
FY24 −16.9M SEK
FY25 −23.1M SEK

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Cite: Fair Value Calculator (2026). "NanoCap Group Fair Value". https://www.fairvalue-calculator.com/stock/NANOC-B

Peer Group

Asset Management · 695 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 38 · Bottom 25%
Fair Value upside +65% · Top 25%
Return on assets 0% · Below median
Net margin (TTM) −49% · Bottom 25%
Operating margin (TTM) −3% · Bottom 25%
Revenue growth 11% · Above median
Dividend yield (TTM) 3.6% · Below median

Valuation Multiples vs Asset Management median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers
P/FCF 4.1× · Cheaper than median

Strength profile in five axes (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
VALUE100 · sector 40
FUTURE57 · sector 15
PAST0 · sector 24
HEALTH0 · sector 95
DIVIDEND73 · sector 81

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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $142.39 $52.88 −63%
Investor AB INVEB kr 417.20 kr 824.66 +98%
Brookfield Corporation BN C$55.74 C$10.67 −81%
KKR & Co KKR $108.68 $19.97 −82%
Apollo Global Management, Inc APO $135.04 $101.04 −25%
State Street Corporation STT $193.33 $138.33 −28%
Ameriprise Financial, Inc AMP $559.32 $515.24 −8%
Ares Management Corporation ARES $143.10 $30.88 −78%
Northern Trust Corporation NTRS $186.79 $122.02 −35%
Raymond James Financial, Inc RJF $181.10 $142.42 −21%

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Frequently asked questions

Is NanoCap Group (NANOC-B) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of kr 7.06 versus a price of kr 4.28, about +65% upside (undervalued).
What is the fair value of NANOC-B?
Our model-based fair value for NanoCap Group is kr 7.06 (as of Aug 30, 2026), built from audited fundamentals. The current price: kr 4.28.
What is the quality score of NANOC-B?
NanoCap Group has a Quality Score of 38/100. 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 NanoCap Group (NANOC-B)?
NanoCap Group reported trailing-twelve-month revenue of about 43.4M SEK (latest available figure, as of Aug 30, 2026).
What is the net profit margin of NANOC-B?
The net profit margin of NanoCap Group is about −53.3%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does NanoCap Group pay a dividend?
NanoCap Group currently shows a dividend yield of about 3.64% relative to its recent price (as of Aug 30, 2026).
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