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NAXS AB (NAXS) Fair Value & Analysis

Financial Services · SE · Market cap 412M SEK

NA NAXS AB NAXS · ST
Pricekr 36.30
Fair Valuekr 5.14
Upside-85.8%
Quality66/100
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Evidence: Low Range kr 3.39 – kr 6.42

Fair value as of: Jun 26, 2026

From 1 valuation models · updated 7 days ago

Share price −4.2% over the past month.

Price vs Fair Value (12 months)

kr 51.00 kr 33.84 Fair Value kr 5.14 Jul 2025 Jul 2026

12‑month range kr 33.84 – kr 51.00 · fair‑value band kr 3.39 – kr 6.42 · the kr 36.30 price screens above the kr 5.14 fair value. As of Jun 26, 2026.

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Analysis

NAXS AB (NAXS) currently trades at kr 36.30, while our model-based Fair Value estimate is kr 5.14 — implying the stock looks roughly 85.8% overvalued today. We read business quality at 66/100 (solid quality), in the Financial Services 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 9.5% year over year. It earns a return on equity of -17.5%. The balance sheet holds a net cash position of 65.9M SEK. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) −104M SEK
Revenue growth (YoY) +9.5%
Return on equity -17.5%
Free cash flow −13.2M SEK FY2025
Operating margin 151%
EPS (TTM) kr -11.28
More key figures
Dividend yield 5.3%
EPS growth (YoY) +8,608%
Net cash 65.9M SEK FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

NAXS AB (publ) is a private equity firm, specializing in direct, fund of funds and secondary indirect investments. Within direct investments, the firm invests in mature stage companies and through buyout transactions. It also invests in other alternative asset funds. The firm does not invest in pure debt instruments, convertible debentures, and mezzanine instruments. Within the fund of fund investments, it makes investments in private equity buyout funds and middle market funds. The firm invests in private equity funds through its primary fund raisings and investments in already existing funds through acquisition of fund interests on the second-hand market. The firm seeks to invest in funds based in Nordic region, mainly in funds based in Denmark, Finland, Norway, and Sweden or, having at least one of the Nordic countries as their investment focus. It makes fund investments through equity and liquid assets or net cash in interest-bearing instruments only. The firm also makes …

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NAXS AB reported revenue of −kr 156K in FY2025 versus kr 170M in FY2021. Reported net income was −kr 25.8M in FY2025.

Revenue
FY21 kr 170M
FY22 kr 186M
FY23 kr 12.1M
FY24 −kr 58.8M
FY25 −kr 156K
Net income
FY21 kr 164M
FY22 kr 180M
FY23 kr 4.4M
FY24 −kr 66.6M
FY25 −kr 25.8M

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Frequently asked questions

Is NAXS AB (NAXS) undervalued?
As of Jun 26, 2026, our model estimates a fair value of kr 5.14 versus a price of kr 36.30 — about −86% (overvalued). Model-based estimate, not financial advice.
What is the fair value of NAXS?
Our model-based fair value for NAXS AB is kr 5.14 (as of Jun 26, 2026), built from audited fundamentals. The current price is kr 36.30.
What is the quality score of NAXS?
NAXS AB has a Quality Score of 66/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the net profit margin of NAXS?
The net profit margin of NAXS AB is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
Does NAXS AB pay a dividend?
NAXS AB currently shows a dividend yield of about 5.29% relative to its recent price (as of Jun 26, 2026).

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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.