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S2Medical AB (S2M) Fair Value & Analysis

Healthcare · SE · Market cap 4.9M SEK

SA S2Medical AB S2M · ST
Pricekr 0.0060
Fair Valuekr 0.0046
Upside-23.3%
Quality23/100
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Weak Growth
Loss-making · -62.6% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/10)
Narrow moat 12/100
Evidence: Low Range kr 0.0046 – kr 0.0046 Share as image

Fair value as of: Jul 17, 2026

From 1 valuation models · updated 24 days ago

Share price +15.4% over the past month.

Below-average quality, and screening another 23% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 0.0046). The favourable scenario is already priced in.
  • Weak quality (23/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

kr 1.80 kr 0.0044 Fair Value kr 0.0046 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range kr 0.0044 – kr 1.80 · the kr 0.0060 price screens above the kr 0.0046 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

Full chart & analysis →

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Analysis

S2Medical AB (S2M) currently trades at kr 0.0060, while our model-based Fair Value estimate is kr 0.0046, implying the stock looks roughly 23.3% overvalued today. The Quality Score stands at 23/100 (below-average quality), in the Healthcare 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).

Over the trailing twelve months, S2Medical AB generated revenue of 16.1M SEK at a net margin of -62.6%. Revenue grew 8.5% year over year. It earns a return on equity of -70.6%. Fundamentals as of Jul 17, 2026

The share trades about 73% below its 52-week high and 43% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -23%, S2M 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 0.0100 kr 0.0100 kr 0.0100 50
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.0100 kr 0.0100 kr 0.0100 50

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Key figures & financial health

Revenue (TTM) 16.1M SEK
Revenue growth (YoY) +8.5%
Net margin -62.6%
Return on equity -70.6%
Free cash flow −1.3M SEK FY2025
Operating margin -25.5%
More key figures
EPS (TTM) kr -0.0200
EPS growth (YoY) -99.6%
Net cash 907K SEK FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 23/100

Of which business quality 25 · Market factors (momentum, volatility) 7

Profitability 12
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 0
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

S2Medical AB (publ) develops products for wound healing, infection control, and cosmeceuticals spectrum in Sweden. The company offers odor eliminator under the YNOLENS brand; IvaQ, a negative pressure wound therapy (NPWT) system; Instagraft, a technology designed to make skin transplantation even in non-specialist healthcare setting; ADMERCIN, a solution …

Full company description

S2Medical AB (publ) develops products for wound healing, infection control, and cosmeceuticals spectrum in Sweden. The company offers odor eliminator under the YNOLENS brand; IvaQ, a negative pressure wound therapy (NPWT) system; Instagraft, a technology designed to make skin transplantation even in non-specialist healthcare setting; ADMERCIN, a solution against antibiotic-resistant bacteria; and Epiprotect, a technology designed to protect and support wound healing by creating an environment for tissue recovery. It also provides Symbiovance, a peptide-based functional skincare; Eyracure, a light-activated peptide technology that repairs damaged hair at the molecular level; and Eiratex, a biosynthetic polymer for wound healing applications. In addition, the company distributes instaQrett; skin substitutes under the EPIPROTECT brand; and BIOPAD, an ivory-white soft sponge. The company was incorporated in 2013 and is headquartered in Linköping, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

S2Medical AB reported revenue of kr 14.4M in FY2025 versus kr 7.7M in FY2021, a compound +16.9%/yr. Reported net income was −kr 10.1M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
14.4M SEK
Latest YoY
−3.7%
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.
+45.4%
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.
−10.9%
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.
+25.1%
Revenue +16.9%/yr
FY21 kr 7.7M
FY22 kr 4.7M
FY23 kr 7.0M
FY24 kr 14.9M
FY25 kr 14.4M
Net income
FY21 −kr 20.1M
FY22 −kr 29.5M
FY23 −kr 22.7M
FY24 kr 5.8M
FY25 −kr 10.1M

S2M screens 23% overvalued. Compare with Intuitive Surgical, Inc →

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Cite: Fair Value Calculator (2026). "S2Medical AB Fair Value". https://www.fairvalue-calculator.com/stock/S2M

Peer Group

Medical Instruments & Supplies · 203 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 25 · Bottom 25%
Fair Value upside −23% · Above median
Return on assets -8% · Bottom 25%
Net margin (TTM) -63% · Bottom 25%
Operating margin (TTM) -25% · Bottom 25%
Revenue growth 9% · Above median

Valuation Multiples vs Medical Instruments & Supplies median · lower = cheaper

P/B 0.05× · Cheaper than 75% of peers
P/S (TTM) 0.03× · 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 2 · sector 0
FUTURE 43 · sector 27
PAST 0 · sector 25
HEALTH 100 · sector 96
DIVIDEND 0 · sector 32

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 Medical Instruments & Supplies stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Intuitive Surgical, Inc ISRG $402.33 $150.04 -63%
EssilorLuxottica Société anonyme 1EL €172.45 €68.55 -60%
Medline Inc MDLN $41.11 $30.15 -27%
Becton, Dickinson and Company BDX $150.65 $103.53 -31%
Alcon Inc ALC $70.26 $39.78 -43%
ResMed Inc RMD $203.87 $187.89 -8%
West Pharmaceutical Services, Inc WST $353.71 $143.97 -59%
Straumann Holding STMN CHF 106.00 CHF 47.31 -55%
Sartorius Stedim Biotech S.A DIM €188.50 €51.16 -73%
Coloplast A/S COLOB kr 414.00 kr 382.22 -8%

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Frequently asked questions

Is S2Medical AB (S2M) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of kr 0.0046 versus a price of kr 0.0060, about −23% (overvalued).
What is the fair value of S2M?
Our model-based fair value for S2Medical AB is kr 0.0046 (as of Jul 17, 2026), built from audited fundamentals. The current price is kr 0.0060.
What is the quality score of S2M?
S2Medical AB has a Quality Score of 23/100. 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 S2Medical AB (S2M)?
S2Medical AB reported trailing-twelve-month revenue of about 16.1M SEK (latest available figure, as of Jul 17, 2026).
What is the net profit margin of S2M?
The net profit margin of S2Medical AB is about -62.6%, meaning it is currently running at a net loss. 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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