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Nicoccino Holding AB (NICO) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Nicoccino Holding AB stock SEK 0.59, price SEK 1.24, that is 52.4% below the price, quality 34 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Consumer Defensive SE · ISIN SE0005506185

NH Nicoccino Holding AB logo Thin data Nov 10, 2026

Nicoccino Holding AB

NICO · ST
Very expensive, weak quality

Our calculation puts a fair price 52% below what the stock costs today.

Mixed Growth (revenue 5y +75.1 %/yr in SEK)
Revenue last quarter 84% below a year ago.
Fair value kr 0.5900 · Strongly overvalued
Quality 34/100
Negative free cash flow
Trails peers (0/7)
Narrow moat 5/100
Thin data
Estimate⚠ Thinly traded
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

kr 4.75 kr 0.6350 Fair Value kr 0.5900 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range kr 0.6350 – kr 4.75 · fair‑value band kr 0.4400 – kr 0.7400 · the kr 1.24 price screens above the kr 0.5900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Nicoccino Holding AB (publ) manufactures and sells nicotine products in Sweden. It offers nicotine strips and pouches. The company was founded in 2004 and is based in Vallentuna, Sweden.

Stock analysis

Nicoccino Holding AB (NICO) currently trades at kr 1.24, while our estimate is kr 0.5900, 52% below the price, so the stock looks overvalued today.

Show more

Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: kr 0.4400 (bear) to kr 0.7400 (bull), the price of kr 1.24 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 34/100 (below-average quality), in the Consumer Defensive sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Nicoccino Holding AB reported revenue of 889K SEK in FY2025 versus 56.0K SEK in FY2021, a compound +99.6%/yr. Reported net income was −10.2M SEK in FY2025.

Key figures

Market cap 38.2M SEK (≈ $3.9M) Micro · P/S ratio 51.7 · EPS (TTM) kr −0.2900 · Return on equity −152% · Return on assets (EBIT) −29.9% (5-year average) · Operating margin −5,976% · Revenue (TTM) 835K SEK · Revenue growth (YoY) −83.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (medium confidence).

What moves the price

The share trades about 22% below its 52-week high and 95% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Defensive peers we cover trades at 8% fair-value upside, at −52%, NICO screens richer than that median.

Fair Value

Bear kr 0.4400 Fair Value kr 0.5900 Bull kr 0.7400
Price kr 1.24 · Downside -52.4%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 34/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 52
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 36
Debt, balance sheet and risk of trouble
Investment 90
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 73
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 82
Distance to the 52-week high, does not count
New shares 63
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 33/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+125.6%
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.
+81.0%
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.
+75.1%
Start year 2020 (pandemic). Over 10 years: +0.2% 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.
+21.1%
Profit margin (trend) ⓘ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.
−9,461.1% (2020) → −889.4% (2025)
What shareholders gained per year ⓘ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

NICO screens overvalued: fair value 52% below the price. Compare with Philip Morris International Inc →

Compare Nicoccino Holding AB with another stock

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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.Tobacco · 32 stocks

Beats the industry median on 0/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 34 · Bottom 25%
Fair Value upside −52.4% · Bottom 25%
Profitability
Return on assets −45.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −83.8% · Bottom 25%

Valuation Multiplesvs Tobacco median · lower = cheaper

P/B 6.36× · Priciest 25%
P/S (12 months) 45.81× · Priciest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Tobacco

Similar stocks

10 more Tobacco stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
TABAK TABAK 17,220 CZK 23,215 CZK +35% vs NICO
China Tobacco International (HK) Company 6055 HK$27.28 HK$30.63 +12% vs NICO
British American Tobacco p.l.c. BTI $60.82 $67.33 +11% vs NICO
ITC Limited ITC ₹278.80 ₹306.74 +10% vs NICO
Altria Group MO $76.34 $82.13 +8% vs NICO
PT Hanjaya Mandala Sampoerna Tbk, HMSP 645.00 IDR 570.44 IDR −12% vs NICO
KT&G Corporation 033780 175,700 KRW 104,858 KRW −40% vs NICO
Godfrey Phillips India Limited GODFRYPHLP ₹1,775 ₹1,050 −41% vs NICO
Philip Morris International Inc PM $194.25 $112.99 −42% vs NICO
Smoore International Holdings 6969 HK$8.26 HK$4.23 −49% vs NICO

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Nicoccino Holding AB: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Nicoccino Holding AB Fair Value". https://www.fairvalue-calculator.com/stock/NICO

Frequently asked questions

Is Nicoccino Holding AB (NICO) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is kr 0.5900 versus a price of kr 1.24, about 52% lower (overvalued).
What is the fair value of NICO?
Our estimate for Nicoccino Holding AB is kr 0.5900 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 1.24.
What is the quality score of NICO?
Nicoccino Holding AB has a Quality Score of 34/100. 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 Nicoccino Holding AB (NICO)?
Our calculated price target is the estimate of kr 0.5900 (as of Nov 10, 2026). Cautious scenario kr 0.4400, optimistic scenario kr 0.7400. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Nicoccino Holding AB stock forecast for 2026?
Our estimate puts fair value at kr 0.5900, about 52% lower versus a price of kr 1.24 (overvalued). Cautious scenario kr 0.4400, optimistic scenario kr 0.7400. The calculation is refreshed regularly with new filings.
What is the revenue of Nicoccino Holding AB (NICO)?
Nicoccino Holding AB reported trailing-twelve-month revenue of about 835K SEK (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Nicoccino Holding AB (NICO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nicoccino Holding AB it is kr 0.5900 per share (as of Nov 10, 2026), against a price of kr 1.24.
Is Nicoccino Holding AB stock overvalued or undervalued in 2026?
As of Nov 10, 2026, NICO trades above its calculated fair value: price kr 1.24, fair value kr 0.5900, a gap of about −52% (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 NICO?
No. The price is what the market pays today (kr 1.24); the fair value is what the company's own numbers justify (kr 0.5900). For Nicoccino Holding AB the two are kr 0.6500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nicoccino Holding AB worth?
The market values Nicoccino Holding AB at about 38.2M SEK (market capitalisation, as of Nov 10, 2026). Per share that is kr 1.24; our models calculate a fair value of kr 0.5900 per share.
What do the bullish and bearish scenarios say about NICO?
Our models span a range for Nicoccino Holding AB: cautious scenario kr 0.4400, base kr 0.5900, optimistic kr 0.7400 per share (as of Nov 10, 2026, price kr 1.24). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Nicoccino Holding AB (NICO)?
Balance-sheet figures for Nicoccino Holding AB (as of Nov 10, 2026): return on equity −152.0%. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is NICO from its 52-week high?
Nicoccino Holding AB trades at kr 1.24, about 22% below its 52-week high of kr 1.58 and 95% above the low of kr 0.6350 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.5900 is for.
Which stocks are comparable to Nicoccino Holding AB?
From the same area (Consumer Defensive) we also value Philip Morris International Inc, Altria Group, British American Tobacco p.l.c., ITC Limited, 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 Nicoccino Holding AB stock attractive at the current price?
The data as of Nov 10, 2026: price kr 1.24, calculated fair value kr 0.5900 (−52%), Quality Score 34/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Nicoccino Holding 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 Nicoccino Holding AB (NICO)?
The closing price on Nov 10, 2026 was kr 1.24. Our estimate is kr 0.5900, about 52% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nicoccino Holding AB right now?
The price sits above even our optimistic bull case (kr 0.7400). The favourable scenario is already priced in. Weak quality (34/100) 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.

Key figures of Nicoccino Holding AB

How large is the market capitalisation of Nicoccino Holding AB (NICO)?
The market capitalisation of Nicoccino Holding AB is 38.2M SEK (≈ $3.9M). 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 Nicoccino Holding AB (NICO)?
The price-to-sales ratio of Nicoccino Holding AB is 51.7 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nicoccino Holding AB (NICO)?
Earnings per share at Nicoccino Holding AB are kr −0.2900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Nicoccino Holding AB (NICO)?
The return on equity (ROE) of Nicoccino Holding AB is −152% (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 Nicoccino Holding AB (NICO)?
On an EBIT basis the return on assets of Nicoccino Holding AB is −29.9% (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 Nicoccino Holding AB (NICO)?
The operating margin of Nicoccino Holding AB is −5,976% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nicoccino Holding AB (NICO)?
Revenue at Nicoccino Holding AB is growing −83.8% versus a year earlier (3y avg +81.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Nicoccino Holding AB (NICO) generate?
The free cash flow of Nicoccino Holding AB is −6.7M SEK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Nicoccino Holding AB (NICO) carry?
The net debt of Nicoccino Holding AB is 395K SEK (fiscal year 2025). 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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