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Realfiction Holding (REALFI) Fair Value & Analysis

Technology · SE · Market cap 57.3M SEK

RH Realfiction Holding REALFI · ST
Pricekr 2.52
Fair Valuekr 1.35
Upside-46.4%
Quality26/100
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Weak Growth
Thin margins · 0.0% net margin
Low debt · negative free cash flow
Trails peers (1/9)
Narrow moat 12/100
Evidence: Low Range kr 1.01 – kr 2.02 Share as image

Fair value as of: Jul 16, 2026

From 1 valuation models · updated 25 days ago

Share price +6.8% over the past month.

Below-average quality, and screening another 46% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 2.02). The favourable scenario is already priced in.
  • Weak quality (26/100) 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 1.01 to kr 2.02) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 25.00 kr 2.24 Fair Value kr 1.35 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 2.24 – kr 25.00 · fair‑value band kr 1.01 – kr 2.02 · the kr 2.52 price screens above the kr 1.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

Realfiction Holding (REALFI) currently trades at kr 2.52, while our model-based Fair Value estimate is kr 1.35, implying the stock looks roughly 46.4% overvalued today. The Quality Score stands at 26/100 (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 4.2M SEK. Revenue declined 7.2% year over year. It earns a return on equity of -56.7%. The balance sheet holds a net cash position of 1.9M SEK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 1.01 (bear case) to kr 2.02 (bull case); at kr 2.52, 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 72% below its 52-week high and 51% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at -46%, REALFI screens cheaper 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 1.01 kr 1.35 kr 2.02 50
All 1 models by family
Asset-Based
NCAV (Graham) kr 1.01 kr 1.35 kr 2.02 50

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Key figures & financial health

Revenue (TTM) 4.2M SEK
Revenue growth (YoY) -7.2%
Return on equity -56.7%
Free cash flow −19.7M SEK FY2025
Operating margin -659%
EPS (TTM) kr -1.03
More key figures
Net cash 1.9M SEK FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 26/100

Of which business quality 28 · Market factors (momentum, volatility) 18

Profitability 0
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 30
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

Realfiction Holding AB (publ) manufactures and sells mixed reality solutions worldwide. The company offers DeepFrame, a mixed-reality display system that merges the real and virtual world; Dreamoc POP3, a display to create attention around a campaign or product launch; Dreamoc HD3.2, a platform for grabbing attention in commercial setting; and Dreamoc XL5, …

Full company description

Realfiction Holding AB (publ) manufactures and sells mixed reality solutions worldwide. The company offers DeepFrame, a mixed-reality display system that merges the real and virtual world; Dreamoc POP3, a display to create attention around a campaign or product launch; Dreamoc HD3.2, a platform for grabbing attention in commercial setting; and Dreamoc XL5, a high-quality 3D holographic display that creates an eye-catching visual experience. It also provides Dreamoc XXL3, a mixed reality display to create attention for large objects at airports or in shopping malls; and Dreamoc Diamond, a display solution for events and brand activations in shopping malls, trade fairs, and other traffic locations. Realfiction Holding AB (publ) was founded in 2008 and is based in Helsingborg, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Realfiction Holding reported revenue of kr 4.3M in FY2025 versus kr 12.6M in FY2021, a compound −23.7%/yr. Reported net income was −kr 25.3M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
4.3M SEK
Latest YoY
−77.1%
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.
−33.0%
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.
−14.8%
Avg. growth/yr (10Y) 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.
−15.2%
Revenue −23.7%/yr
FY21 kr 12.6M
FY22 kr 14.2M
FY23 kr 9.9M
FY24 kr 18.6M
FY25 kr 4.3M
Net income
FY21 −kr 970K
FY22 −kr 1.4M
FY23 −kr 6.1M
FY24 −kr 18.4M
FY25 −kr 25.3M

REALFI screens 46% overvalued. Compare with Compal Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Realfiction Holding Fair Value". https://www.fairvalue-calculator.com/stock/REALFI

Peer Group

Computer Hardware · 215 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 28 · Bottom 25%
Fair Value upside −46% · Below median
Return on assets -21% · Bottom 25%
Net margin (TTM) 0% · Below median
Revenue growth -7% · Bottom 25%
Debt / equity 0.25× · Higher than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/B 0.12× · Cheaper than 75% of peers
P/S (TTM) 1.44× · Pricier than median

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 0
FUTURE 0 · sector 57
PAST 0 · sector 26
HEALTH 88 · sector 97
DIVIDEND 0 · sector 44

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 Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Compal Electronics, Inc CEIR $0.0310 $0.0276 -11%
Dell Technologies Inc DELL $434.97 $163.87 -62%
Arista Networks, Inc ANET $168.56 $43.74 -74%
Western Digital Corporation WDC $513.84 $74.05 -86%
Wiwynn Corporation 6669 4,685 TWD 1,559 TWD -67%
Hangzhou Hikvision Digital Technology Co 002415 ¥34.12 ¥30.11 -12%
Quanta Computer Inc 2382 373.50 TWD 297.22 TWD -20%
Shenzhen Longsys Electronics Co 301308 ¥587.60 ¥60.86 -90%
Lenovo Group 0992 HK$23.16 HK$3.07 -87%
Dawning Information Industry Co 603019 ¥106.13 ¥28.88 -73%

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Frequently asked questions

Is Realfiction Holding (REALFI) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 1.35 versus a price of kr 2.52, about −46% (overvalued).
What is the fair value of REALFI?
Our model-based fair value for Realfiction Holding is kr 1.35 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 2.52.
What is the quality score of REALFI?
Realfiction Holding has a Quality Score of 26/100. 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 Realfiction Holding (REALFI)?
Realfiction Holding reported trailing-twelve-month revenue of about 4.2M SEK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of REALFI?
The net profit margin of Realfiction Holding is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

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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