Qualisys Holding AB (publ) (QSYS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Qualisys Holding AB (publ) stock SEK 71.05, price SEK 35.00, upside +103.0%, quality 69 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
20‑month range kr 34.55 – kr 78.82 · fair‑value band kr 45.34 – kr 104.40 · the kr 35.00 price screens below the kr 71.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Qualisys Holding AB (publ) provides precision motion capture and 3D positioning tracking systems in Europe, the Middle East, Africa, the United States, and the Asia-Pacific. The company offers camera products, such as Aryus, Miqus, Miqus video, Miqus hybrid, Arqus MRI, and under water products.
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It provides Qualisys track manager, a solution for tracking 3D data collected through the company's camera solutions and other non-optical accessories integrated into the system; QTM Connect for Unreal, a real-time stream skeleton, 3D marker data, and rigid bodies; QTM Connect for Unity, includes functionality for real-time streaming of skeletons, 3D marker data, rigid body objects, gaze vectors, and analog data; QTM Connect for Maya, includes functionality for real-time streaming of skeletons, 3D marker data, and rigid bodies; QTM Connect for MotionBuilder, a plugin for MotionBuilder that enables streaming real-time skeletal and optical data; Project Automation Framework, a framework used to create QTM projects with analysis modules; and real-time SDK. In addition, the company offers analysis products, including online reporting, baseball analysis, cycling analysis, functional assessment, gait analysis, golf analysis, and running analysis.
Its products are used in human biomechanics, sports research, equine lameness, sound and motion, animal biomechanics, MRI, swimming, automotive, OEM, robotics and UAV, marine vessels and structures, wind power, virtual reality, and animation and VFX applications.
The company was founded in 1989 and is headquartered in Gothenburg, Sweden. Qualisys Holding AB (publ) is a subsidiary of Vätterledens Invest AB.
Stock analysis
Qualisys Holding AB (publ) (QSYS) currently trades at kr 35.00, while our model-based Fair Value estimate is kr 71.05, implying the stock looks roughly 51% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 84.68 per share, and 22 of the 26 models we run sit above the kr 35.00 price.
Bear case: the Asset-Based group reads lowest at kr 7.95, and 4 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 45.34 (bear) to kr 104.40 (bull), the price of kr 35.00 sits below 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 69/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Qualisys Holding AB (publ) reported revenue of 269M SEK in FY2025 versus 233M SEK in FY2022, a compound +4.9%/yr. Reported net income was 36.6M SEK in FY2025, compounding −6.5%/yr from FY2022.
Key figures
Market cap 350M SEK (≈ $35.4M) Micro · P/E ratio 11.1 · P/S ratio 1.41 · EPS (TTM) kr 3.15 · Dividend yield 8.6% · Net margin 13.3% · Return on equity 22.9% · Return on assets (EBIT) 19.3% (4-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −45% fair-value upside, at 103%, QSYS screens cheaper than that median.
Fair Value models
Bearkr 45.34Fair Value kr 71.05Bullkr 104.40
Price kr 35.00 · Upside +103.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 0.1286 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
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.65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.9%
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.
+4.9%
’22
’23
’24
’25
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+4.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.4%
Dividend (yield on the price)8.6%
Profit margin 2022 to 2025 ⓘ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.22% → 16%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +1.3% a year for the price.
Compare Qualisys Holding AB (publ) 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.Scientific & Technical Instruments · 160 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Qualisys Holding AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/QSYS
Frequently asked questions
Is Qualisys Holding AB (publ) (QSYS) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of kr 71.05 versus a price of kr 35.00, about +103% upside (undervalued).
What is the fair value of QSYS?
Our model-based fair value for Qualisys Holding AB (publ) is kr 71.05 (as of Nov 3, 2026), built from audited fundamentals. The current price: kr 35.00.
What is the quality score of QSYS?
Qualisys Holding AB (publ) has a Quality Score of 69/100. 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 Qualisys Holding AB (publ) (QSYS)?
Our model-based price target is the fair value of kr 71.05 (as of Nov 3, 2026) from 26 valuation models. Cautious scenario kr 45.34, optimistic scenario kr 104.40. It is a calculation from audited fundamentals, not an analyst target.
What is the Qualisys Holding AB (publ) stock forecast for 2026?
Our models put fair value at kr 71.05, about +103% upside versus a price of kr 35.00 (undervalued). Cautious scenario kr 45.34, optimistic scenario kr 104.40. The calculation is refreshed regularly with new filings.
What is the revenue of Qualisys Holding AB (publ) (QSYS)?
Qualisys Holding AB (publ) reported trailing-twelve-month revenue of about 249M SEK (latest available figure, as of Nov 3, 2026).
Does Qualisys Holding AB (publ) pay a dividend?
Qualisys Holding AB (publ) currently shows a dividend yield of 8.57% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Qualisys Holding AB (publ) (QSYS) and when is the ex-dividend date?
Qualisys Holding AB (publ) pays a dividend of kr 3.00 per share a year, a dividend yield of 8.6%. The next ex-dividend date is Nov 20, 2026. The payout ratio is 95.2% of earnings. Free cash flow covers the dividend 0.66 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Qualisys Holding AB (publ) (QSYS)?
For today's price to be fair in a discounted-cash-flow model, Qualisys Holding AB (publ) would have to grow free cash flow by +3.3 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +4.9 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of QSYS use?
Our models discount Qualisys Holding AB (publ) at 9.5 %: a base by market capitalisation (nano), country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Qualisys Holding AB (publ) that is +3.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Qualisys Holding AB (publ) (QSYS) delivered so far?
Over the past 3 years revenue at Qualisys Holding AB (publ) grew +4.9 % a year. The price currently implies free-cash-flow growth of +3.3 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Qualisys Holding AB (publ) (QSYS) growing?
The median revenue growth in the sector is +16.8 % a year. That is the yardstick for the growth priced into Qualisys Holding AB (publ) (+3.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Qualisys Holding AB (publ) (QSYS)?
The free-cash-flow yield on the price is 5.62 %: that much free cash flow Qualisys Holding AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Qualisys Holding AB (publ) (QSYS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Qualisys Holding AB (publ) it is kr 71.05 per share (as of Nov 3, 2026), against a price of kr 35.00. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Qualisys Holding AB (publ) stock overvalued or undervalued in 2026?
As of Nov 3, 2026, QSYS trades below its calculated fair value: price kr 35.00, fair value kr 71.05, a gap of about +103% (undervalued). 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 QSYS?
No. The price is what the market pays today (kr 35.00); the fair value is what the company's own numbers justify (kr 71.05). For Qualisys Holding AB (publ) the two are kr 36.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Qualisys Holding AB (publ) worth?
The market values Qualisys Holding AB (publ) at about 350M SEK (market capitalisation, as of Nov 3, 2026). Per share that is kr 35.00; our models calculate a fair value of kr 71.05 per share.
What do the bullish and bearish scenarios say about QSYS?
Our models span a range for Qualisys Holding AB (publ): cautious scenario kr 45.34, base kr 71.05, optimistic kr 104.40 per share (as of Nov 3, 2026, price kr 35.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of QSYS?
Qualisys Holding AB (publ) trades at a price-to-earnings ratio of 11.1 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 71.05 is built from several models across several years. Other multiples: P/B 2.1, P/S 1.4, EV/EBITDA 7.7.
How solid is the balance sheet of Qualisys Holding AB (publ) (QSYS)?
Balance-sheet figures for Qualisys Holding AB (publ) (as of Nov 3, 2026): return on equity 22.9%. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is QSYS from its 52-week high?
Qualisys Holding AB (publ) trades at kr 35.00, about 43% below its 52-week high of kr 61.00 and 1% above the low of kr 34.55 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 71.05 is for.
Which stocks are comparable to Qualisys Holding AB (publ)?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Coherent Corp, Teledyne Technologies Incorporated, 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 Qualisys Holding AB (publ) stock attractive at the current price?
The data as of Nov 3, 2026: price kr 35.00, calculated fair value kr 71.05 (+103%), Quality Score 69/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of QSYS calculated?
We run Qualisys Holding AB (publ) through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 71.05 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Qualisys Holding AB (publ) currently trades 51% below its own fair value, and the market average says nothing about that. 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 Qualisys Holding AB (publ) (QSYS)?
The closing price on Nov 6, 2026 was kr 35.00. Our model-based fair value is kr 71.05, about +103% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Qualisys Holding AB (publ) right now?
The price is below even our cautious bear case (kr 45.34). The market is more pessimistic than our downside scenario. Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (kr 45.34 to kr 104.40) leaves room in how you read the outcome.
Key figures of Qualisys Holding AB (publ)
How large is the market capitalisation of Qualisys Holding AB (publ) (QSYS)?
The market capitalisation of Qualisys Holding AB (publ) is 350M SEK (≈ $35.4M). 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 Qualisys Holding AB (publ) (QSYS)?
The price-to-sales ratio of Qualisys Holding AB (publ) is 1.41 (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 Qualisys Holding AB (publ) (QSYS)?
Earnings per share at Qualisys Holding AB (publ) are kr 3.15 (price ÷ EPS = P/E 11.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Qualisys Holding AB (publ) (QSYS)?
The dividend yield of Qualisys Holding AB (publ) is 8.6% (payout 95.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Qualisys Holding AB (publ) (QSYS)?
The net margin of Qualisys Holding AB (publ) is 13.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Qualisys Holding AB (publ) (QSYS)?
The return on equity (ROE) of Qualisys Holding AB (publ) is 22.9% (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 Qualisys Holding AB (publ) (QSYS)?
On an EBIT basis the return on assets of Qualisys Holding AB (publ) is 19.3% (avg 4y). 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 Qualisys Holding AB (publ) (QSYS)?
The operating margin of Qualisys Holding AB (publ) is 3.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Qualisys Holding AB (publ) (QSYS)?
Revenue at Qualisys Holding AB (publ) is growing −2.4% versus a year earlier (3y avg +4.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Qualisys Holding AB (publ) (QSYS)?
Earnings per share at Qualisys Holding AB (publ) are growing +45.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Qualisys Holding AB (publ) (QSYS) carry?
The net debt of Qualisys Holding AB (publ) is 13.7M SEK (fiscal year 2022, ≈ 0.7 yrs of FCF). 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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Broad data
Nov 3, 2026