Röko (ROKO-B) fair value: what the stock is really worth
As of Oct 20, 2026: fair value (intrinsic value) of Röko stock SEK 1,693, price SEK 1,904, upside -11.1%, quality 66 out of 100. Rating: overvalued. 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, dashed = 300-day average. As of Oct 13, 2026.
How to read this chart
19‑month range kr 1,453 – kr 3,000 · fair‑value band kr 892.01 – kr 2,943 · the kr 1,904 price screens above the kr 1,693 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 13, 2026.
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Röko AB (publ) is a private equity firm specializing in lower middle market, small- and medium-sized businesses. The firm prefers to invest in B2B and B2C markets. The firm typically invests in European region.
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It typically invests in companies with EBITDA between EUR 2 million ($2.31 million) and EUR 15 million ($17.44 million), along with a margin of at least 15% and EBITDA (A) between $3 million and $15 million and revenue between $15 million and $150 million. The firm only seeks minority stakes.
Roko AB (publ) was founded in 2019 and is based in Stockholm, Sweden.
Stock analysis
Röko (ROKO-B) currently trades at kr 1,904, while our model-based Fair Value estimate is kr 1,693, 11.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 1,693 per share, and 3 of the 9 models we run sit above the kr 1,904 price.
Bear case: the Economic Profit group reads lowest at kr 445.06, and 6 of the 9 models stay below the price. Data coverage for this calculation is medium.
Scenario range: kr 892.01 (bear) to kr 2,943 (bull), the price of kr 1,904 sits inside 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 66/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Röko reported revenue of 6.5B SEK in FY2025 versus 2.1B SEK in FY2021, a compound +32.7%/yr. Reported net income was 755M SEK in FY2025, compounding +36.6%/yr from FY2021.
Key figures
Market cap 27.8B SEK (≈ $2.8B) Mid · P/E ratio 34.8 · P/S ratio 3.93 · EPS (TTM) kr 53.63 · Net margin 11.0% · Return on equity 13.4% · Return on assets (EBIT) 7.6% · Operating margin 16.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 31% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −12% fair-value upside, at −11%, ROKO-B screens cheaper than that median.
Fair Value models
Bearkr 892.01Fair Value kr 1,693Bullkr 2,943
Price kr 1,904 · Upside -11.1%
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 43.05 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.4%
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.
+14.3%
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.
+60.1%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 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 5 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.
+38.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+38.5%
Dividend (yield on the price)0.0%
Profit margin 2020 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.15% → 18%
Growth Forecast
Little optimism in the price
The price assumes less growth than 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).
+15.0%
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 +12.8% a year for the price.
AI conclusion: Moderate returns with clean cash conversion form the main strength, while limited public signals and lack of brand scale or process evidence constitute the main weak point.
Main risk: A slowdown in the stream of suitable targets or in smooth integrations would directly impair the serial acquirer's EBITA growth.
Röko has stepped up its acquisition pace in 2026, adding deals like the Italian Cytech. SEB analysts now see the serial acquirer surpassing its own target of more than 15 percent EBITA growth in both 2026 and 2027. Will the stream of suitable targets and smooth integrations continue to fuel that outperformance, or will the pace eventually slow?
Price, fair value, quality and upside side by side.
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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.Asset Management · 664 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score66 · Above median
Fair Value upside−11.1% · Below median
Profitability
Return on equity (12 months)13.4% · Above median
Return on assets6.5% · Above median
Net margin (12 months)11.0% · Below median
Operating margin (12 months)16.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)30.9% · Above median
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (12 months)34.8× · Priciest 25%
P/B5.05× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
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). "Röko Fair Value". https://www.fairvalue-calculator.com/stock/ROKO-B
Frequently asked questions
Is Röko (ROKO-B) overvalued or undervalued?
As of Oct 13, 2026, our model estimates a fair value of kr 1,693 versus a price of kr 1,904, about −11% upside (overvalued).
What is the fair value of ROKO-B?
Our model-based fair value for Röko is kr 1,693 (as of Oct 13, 2026), built from audited fundamentals. The current price: kr 1,904.
What is the quality score of ROKO-B?
Röko has a Quality Score of 66/100. 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 Röko (ROKO-B)?
Our model-based price target is the fair value of kr 1,693 (as of Oct 13, 2026) from 9 valuation models. Cautious scenario kr 892.01, optimistic scenario kr 2,943. It is a calculation from audited fundamentals, not an analyst target.
What is the Röko stock forecast for 2026?
Our models put fair value at kr 1,693, about −11% upside versus a price of kr 1,904 (overvalued). Cautious scenario kr 892.01, optimistic scenario kr 2,943. The calculation is refreshed regularly with new filings.
What is the revenue of Röko (ROKO-B)?
Röko reported trailing-twelve-month revenue of about 7.1B SEK (latest available figure, as of Oct 13, 2026).
What growth is priced into Röko (ROKO-B)?
For today's price to be fair in a discounted-cash-flow model, Röko would have to grow free cash flow by +15.0 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +60.1 % per year. As of Oct 13, 2026.
What discount rate (WACC) does the fair value of ROKO-B use?
Our models discount Röko at 9.5 %: a base by market capitalisation (mid), 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 Röko that is +15.0 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Röko (ROKO-B) delivered so far?
Over the past 5 years revenue at Röko grew +60.1 % a year. The price currently implies +15.0 % per year free-cash-flow growth a 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 Röko (ROKO-B) growing?
The median revenue growth in the sector is +6.9 % a year. That is the yardstick for the growth priced into Röko (+15.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Röko (ROKO-B)?
The free-cash-flow yield on the price is 3.67 %: that much free cash flow Röko 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 Röko (ROKO-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Röko it is kr 1,693 per share (as of Oct 13, 2026), against a price of kr 1,904. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Röko stock overvalued or undervalued in 2026?
As of Oct 13, 2026, ROKO-B trades above its calculated fair value: price kr 1,904, fair value kr 1,693, a gap of about −11% (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 ROKO-B?
No. The price is what the market pays today (kr 1,904); the fair value is what the company's own numbers justify (kr 1,693). For Röko the two are kr 210.64 per share apart. That gap is exactly why we show both numbers side by side.
How much is Röko worth?
The market values Röko at about 27.8B SEK (market capitalisation, as of Oct 13, 2026). Per share that is kr 1,904; our models calculate a fair value of kr 1,693 per share.
What do the bullish and bearish scenarios say about ROKO-B?
Our models span a range for Röko: cautious scenario kr 892.01, base kr 1,693, optimistic kr 2,943 per share (as of Oct 13, 2026, price kr 1,904). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ROKO-B?
Röko trades at a price-to-earnings ratio of 34.8 (as of Oct 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 1,693 is built from several models across several years. Other multiples: P/B 5.1, P/S 3.9, EV/EBITDA 17.6.
How solid is the balance sheet of Röko (ROKO-B)?
Balance-sheet figures for Röko (as of Oct 13, 2026): return on equity 13.4%, debt of 0.00 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is ROKO-B from its 52-week high?
Röko trades at kr 1,904, about 5% below its 52-week high of kr 2,010 and 31% above the low of kr 1,453 (as of Oct 20, 2026). Distance from the high says nothing about value: that is what the fair value of kr 1,693 is for.
Which stocks are comparable to Röko?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Corporation, Apollo Global Management, Inc, 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 Röko stock attractive at the current price?
The data as of Oct 13, 2026: price kr 1,904, calculated fair value kr 1,693 (−11%), Quality Score 66/100, from 9 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 ROKO-B calculated?
We run Röko through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 1,693, 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 13.9 % above its aggregate fair value. Röko 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 Röko (ROKO-B)?
The closing price on Oct 20, 2026 was kr 1,904. Our model-based fair value is kr 1,693, about −11% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Röko right now?
The model range is unusually wide (kr 892.01 to kr 2,943). The outcome hinges heavily on assumptions, so read the point estimate with caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Röko
How large is the market capitalisation of Röko (ROKO-B)?
The market capitalisation of Röko is 27.8B SEK (≈ $2.8B). 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 Röko (ROKO-B)?
The price-to-sales ratio of Röko is 3.93 (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 Röko (ROKO-B)?
Earnings per share at Röko are kr 53.63 (price ÷ EPS = P/E 34.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Röko (ROKO-B)?
The net margin of Röko is 11.0% (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 Röko (ROKO-B)?
The return on equity (ROE) of Röko is 13.4% (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 Röko (ROKO-B)?
On an EBIT basis the return on assets of Röko is 7.6% (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 Röko (ROKO-B)?
The operating margin of Röko is 16.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Röko (ROKO-B)?
Revenue at Röko is growing +30.9% versus a year earlier (3y avg +14.3%). 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 Röko (ROKO-B)?
Earnings per share at Röko are growing +15.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Röko (ROKO-B) carry?
The net debt of Röko is 1.0B SEK (fiscal year 2025, ≈ 1.0 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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Oct 13, 2026