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Qlucore AB (QCORE) Fair Value & Analysis

Technology · SE · Market cap 11.8M SEK

QA Qlucore AB QCORE · ST
Pricekr 0.4030
Fair Valuekr 0.1900
Upside-52.9%
Quality29/100
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Weak Growth
Low debt · negative free cash flow
Trails peers (2/8)
Narrow moat 8/100
Evidence: Low Range kr 0.1000 – kr 0.1900 Share as image

Fair value as of: Aug 13, 2026

From 1 valuation models · updated yesterday

Share price −5.4% over the past month.

Below-average quality, and screening another 53% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 0.1900). The favourable scenario is already priced in.
  • Weak quality (29/100) 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 0.1000 to kr 0.1900) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 54.99 kr 0.2660 Fair Value kr 0.1900 Nov 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

57‑month range kr 0.2660 – kr 54.99 · fair‑value band kr 0.1000 – kr 0.1900 · the kr 0.4030 price screens above the kr 0.1900 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Qlucore AB (QCORE) currently trades at kr 0.4030, while our model-based Fair Value estimate is kr 0.1900, implying the stock looks roughly 52.9% overvalued today. The Quality Score stands at 29/100 (below-average quality), in the Technology 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).

Trailing-twelve-month revenue stands at 12.7M SEK. Revenue declined 19.5% year over year. It earns a return on equity of -70.0%. The balance sheet holds a net cash position of 3.3M SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 0.1000 (bear case) to kr 0.1900 (bull case); at kr 0.4030, 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 78% below its 52-week high and 89% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -40% fair-value upside, at -53%, QCORE 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) kr 0.6800 kr 0.9100 kr 1.36 50
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.6800 kr 0.9100 kr 1.36 50

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Key figures & financial health

Revenue (TTM) 12.7M SEK
Revenue growth (YoY) -19.5%
Net margin -277%
Return on equity -70.0%
Free cash flow −22.4M SEK FY2025
Operating margin -87.2%
More key figures
EPS (TTM) kr -1.22
Net cash 3.3M SEK FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 29/100

Of which business quality 30 · Market factors (momentum, volatility) 27

Profitability 0
Margins and returns on capital today
Quality Growth 9
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 68
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.

About the company

Qlucore AB (publ) offers visualization-based bioinformatics data analysis tools for research and precision diagnostics in Sweden and internationally.

Full company description

Qlucore AB (publ) offers visualization-based bioinformatics data analysis tools for research and precision diagnostics in Sweden and internationally. It offers Qlucore Omics Explorer, a bioinformatics software for research in life science, biotech, and plant industries, as well as academia; Qlucore Insights, a software for clinical data analysis; and Qlucore Diagnostics, a software platform for multi-omics companion. The company was incorporated in 2007 and is headquartered in Lund, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Qlucore AB reported revenue of kr 10.2M in FY2025 versus kr 12.9M in FY2021, a compound −5.8%/yr. Reported net income was −kr 20.5M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
10.2M SEK
Latest YoY
−29.0%
Avg. growth/yr (3Y) 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.
−10.2%
Avg. 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.
−8.6%
Avg. growth/yr (6Y) 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.
−6.1%
Revenue −5.8%/yr
FY21 kr 12.9M
FY22 kr 14.1M
FY23 kr 12.7M
FY24 kr 14.4M
FY25 kr 10.2M
Net income
FY21 −kr 6.0M
FY22 −kr 11.7M
FY23 −kr 15.9M
FY24 −kr 15.7M
FY25 −kr 20.5M

QCORE screens 53% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "Qlucore AB Fair Value". https://www.fairvalue-calculator.com/stock/QCORE

Peer Group

Software - Application · 714 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 30 · Bottom 25%
Fair Value upside −53% · Below median
Return on assets -34% · Bottom 25%
Operating margin (TTM) -87% · Bottom 25%
Revenue growth -20% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/S (TTM) 0.10× · 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.

VALUE 0 · sector 1
FUTURE 0 · sector 38
PAST 0 · sector 13
HEALTH 99 · sector 98
DIVIDEND 0 · sector 27

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
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Shopify Inc SHOP C$209.78 C$28.76 -86%
Uber Technologies, Inc UBER $75.36 $43.66 -42%
Salesforce, Inc CRM $193.32 $249.28 +29%
ServiceNow, Inc NOW $124.94 $43.73 -65%
Cadence Design Systems, Inc CDNS $323.13 $112.57 -65%
Beijing Kingsoft Office Software, Inc 688111 ¥254.50 ¥81.23 -68%
Tata Elxsi Limited TATAELXSI ₹3,712 ₹2,519 -32%
Douzone Bizon Co 012510 120,000 KRW 92,181 KRW -23%
KFin Technologies Limited KFINTECH ₹922.00 ₹556.85 -40%

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Frequently asked questions

Is Qlucore AB (QCORE) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 0.1900 versus a price of kr 0.4030, about −53% (overvalued).
What is the fair value of QCORE?
Our model-based fair value for Qlucore AB is kr 0.1900 (as of Aug 13, 2026), built from audited fundamentals. The current price is kr 0.4030.
What is the quality score of QCORE?
Qlucore AB has a Quality Score of 29/100. 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 Qlucore AB (QCORE)?
Qlucore AB reported trailing-twelve-month revenue of about 12.7M SEK (latest available figure, as of Aug 13, 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.

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