Sectra AB (publ) (SECT-B) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of Sectra AB (publ) stock SEK 134, price SEK 320, upside -58.2%, quality 72 out of 100. Rating: strongly 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 14, 2026.
How to read this chart
60‑month range kr 107.56 – kr 370.75 · fair‑value band kr 103.62 – kr 162.20 · the kr 319.80 price screens above the kr 133.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 14, 2026.
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Sectra AB (publ) provides solutions for medical IT and cybersecurity sectors in Sweden, the United Kingdom, the Netherlands, and rest of Europe. The company operates through Imaging IT Solutions, Secure Communications, and Business Innovation segments.
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The Imaging IT Solutions segment develops and sells medical IT systems and services for managing, archiving, and presenting various types of medical images and patient information, as well as for operational follow-up and radiation dose monitoring; and maintenance and consulting services.
The Secure Communications segment develops and sells products and services for secure voice and data communications, and project-based development, as well as security and threat analyses, and system monitoring services for control systems.
The Business Innovation segment develops and sells IT systems for planning and monitoring orthopedic surgery; products for medical education and research projects; and IT support services for precision diagnostics in cancer care. It serves hospitals and private clinic chains.
Sectra AB (publ) was incorporated in 1957 and is headquartered in Linköping, Sweden.
Stock analysis
Sectra AB (publ) (SECT-B) currently trades at kr 319.80, while our model-based Fair Value estimate is kr 133.62, 58.2% 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 95.51 per share, and 0 of the 24 models we run sit above the kr 319.80 price.
Bear case: the Economic Profit group reads lowest at kr 25.67, and 24 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 103.62 (bear) to kr 162.20 (bull), the price of kr 319.80 sits above 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 72/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Sectra AB (publ) reported revenue of 3.5B SEK in FY2026 versus 1.9B SEK in FY2022, a compound +16.1%/yr. Reported net income was 564M SEK in FY2026, compounding +15.7%/yr from FY2022.
Key figures
Market cap 61.6B SEK (≈ $6.2B) Mid · P/E ratio 88.3 · P/S ratio 16.5 · EPS (TTM) kr 3.23 · Dividend yield 0.4% · Net margin 16.5% · Return on equity 28.3% · Return on assets (EBIT) 15.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 76 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 81% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 7% fair-value upside, at −58%, SECT-B screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (kr 6.82 to kr 130.87). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bearkr 103.62Fair Value kr 133.62Bullkr 162.20
Price kr 319.80 · Upside -58.2%
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 2026 figures (about 6 months old). Earnings retained since then (kr 0.9148 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
+9.3%
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.
+14.6%
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.
+16.8%
Start year 2021 (pandemic). Over 10 years: +12.7% a year
Revenue growth 24 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.
+9.4%
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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.
+15.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.4%
Dividend (yield on the price)0.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.15.4% vs 16.0%, steady
Profit margin 2021 to 2026 ⓘ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.21% → 19%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+28.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+14.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +26.3% a year for the price and +12.4% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The business shows solid returns on equity and cash generation as its main strength, yet limited public signals leave insufficient data for moat assessment across most factors.
Main risk: Execution hurdles from entering unfamiliar regions such as Brazil would hit scaling of the enterprise imaging platform's recurring revenue model.
Sectra's cloud recurring revenue has passed one billion SEK on a rolling twelve-month basis for the first time, fueled by recent contract wins and go-lives. International expansion into markets such as Brazil adds new growth avenues for the enterprise imaging platform. Does this recurring revenue shift strengthen long-term resilience or introduce execution hurdles in unfamiliar regions?
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.Medical Devices · 326 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside−58.2% · Below median
Profitability
Return on equity (12 months)28.3% · Top 25%
Return on assets12.6% · Top 25%
Net margin (12 months)16.5% · Top 25%
Operating margin (12 months)19.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)25.8% · Top 25%
Dividend yield (12 months)0.4% · Bottom 25%
Valuation Multiplesvs Medical Devices median · lower = cheaper
P/E (12 months)88.3× · Priciest 25%
P/B28.81× · Priciest 25%
P/S (12 months)16.46× · Priciest 25%
Price / free cash flow60.9× · Priciest 25%
EV/EBITDA73.6× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 10
FUTURE (revenue growth)100· sector 33
PAST (return on equity)100· sector 16
HEALTH (low debt)100· sector 98
DIVIDEND (yield)8· sector 37
VALUE 0: the price sits above our fair-value range.
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). "Sectra AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/SECT-B
Frequently asked questions
Is Sectra AB (publ) (SECT-B) overvalued or undervalued?
As of Oct 14, 2026, our model estimates a fair value of kr 133.62 versus a price of kr 319.80, about −58% upside (overvalued).
What is the fair value of SECT-B?
Our model-based fair value for Sectra AB (publ) is kr 133.62 (as of Oct 14, 2026), built from audited fundamentals. The current price: kr 319.80.
What is the quality score of SECT-B?
Sectra AB (publ) has a Quality Score of 72/100. 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 Sectra AB (publ) (SECT-B)?
Our model-based price target is the fair value of kr 133.62 (as of Oct 14, 2026) from 24 valuation models. Cautious scenario kr 103.62, optimistic scenario kr 162.20. It is a calculation from audited fundamentals, not an analyst target.
What is the Sectra AB (publ) stock forecast for 2026?
Our models put fair value at kr 133.62, about −58% upside versus a price of kr 319.80 (overvalued). Cautious scenario kr 103.62, optimistic scenario kr 162.20. The calculation is refreshed regularly with new filings.
What is the revenue of Sectra AB (publ) (SECT-B)?
Sectra AB (publ) reported trailing-twelve-month revenue of about 3.7B SEK (latest available figure, as of Oct 14, 2026).
Does Sectra AB (publ) pay a dividend?
Sectra AB (publ) currently shows a dividend yield of 0.41% relative to its recent price (as of Oct 14, 2026).
What growth is priced into Sectra AB (publ) (SECT-B)?
For today's price to be fair in a discounted-cash-flow model, Sectra AB (publ) would have to grow free cash flow by +28.8 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.8 % per year. As of Oct 14, 2026.
What discount rate (WACC) does the fair value of SECT-B use?
Our models discount Sectra AB (publ) at 9.2 %: a base by market capitalisation (mid), damped by beta 0.89, 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 Sectra AB (publ) that is +28.8 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has Sectra AB (publ) (SECT-B) delivered so far?
Over the past 5 years revenue at Sectra AB (publ) grew +16.8 % a year. The price currently implies +28.8 % 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 Sectra AB (publ) (SECT-B) growing?
The median revenue growth in the sector is +5.6 % a year. That is the yardstick for the growth priced into Sectra AB (publ) (+28.8 % 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 Sectra AB (publ) (SECT-B)?
The free-cash-flow yield on the price is 1.64 %: that much free cash flow Sectra AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sectra AB (publ) (SECT-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sectra AB (publ) it is kr 133.62 per share (as of Oct 14, 2026), against a price of kr 319.80. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Sectra AB (publ) stock overvalued or undervalued in 2026?
As of Oct 14, 2026, SECT-B trades above its calculated fair value: price kr 319.80, fair value kr 133.62, a gap of about −58% (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 SECT-B?
No. The price is what the market pays today (kr 319.80); the fair value is what the company's own numbers justify (kr 133.62). For Sectra AB (publ) the two are kr 186.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sectra AB (publ) worth?
The market values Sectra AB (publ) at about 61.6B SEK (market capitalisation, as of Oct 14, 2026). Per share that is kr 319.80; our models calculate a fair value of kr 133.62 per share.
What do the bullish and bearish scenarios say about SECT-B?
Our models span a range for Sectra AB (publ): cautious scenario kr 103.62, base kr 133.62, optimistic kr 162.20 per share (as of Oct 14, 2026, price kr 319.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SECT-B?
Sectra AB (publ) trades at a price-to-earnings ratio of 88.3 (as of Oct 14, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 133.62 is built from several models across several years. Excluding one-off items of fiscal year 2026 it is 109.2 (reported for FY2026: 103.3). Other multiples: P/B 28.8, P/S 16.5, EV/EBITDA 73.6.
How solid is the balance sheet of Sectra AB (publ) (SECT-B)?
Balance-sheet figures for Sectra AB (publ) (as of Oct 14, 2026): return on equity 28.3%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is SECT-B from its 52-week high?
Sectra AB (publ) trades at kr 319.80, at its 52-week high of kr 319.80 and 81% above the low of kr 176.20 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of kr 133.62 is for.
Which stocks are comparable to Sectra AB (publ)?
From the same area (Healthcare) we also value Abbott Laboratories,, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, 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 Sectra AB (publ) stock attractive at the current price?
The data as of Oct 14, 2026: price kr 319.80, calculated fair value kr 133.62 (−58%), Quality Score 72/100, from 24 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 SECT-B calculated?
We run Sectra AB (publ) through 24 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 133.62, 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. Sectra AB (publ) 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 Sectra AB (publ) (SECT-B)?
The closing price on Oct 19, 2026 was kr 319.80. Our model-based fair value is kr 133.62, about −58% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sectra AB (publ) right now?
A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (kr 162.20). The favourable scenario is already priced in.
Where does the earnings growth of Sectra AB (publ) (SECT-B) come from?
Earnings per share at Sectra AB (publ) grew +16.1 % a year from 2015 to 2026. Broken into its drivers: revenue per share +13.2 %, EBIT margin +0.6 %, tax rate −0.1 %, residual (interest, one-offs) +2.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Sectra AB (publ)
How large is the market capitalisation of Sectra AB (publ) (SECT-B)?
The market capitalisation of Sectra AB (publ) is 61.6B SEK (≈ $6.2B). 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 Sectra AB (publ) (SECT-B)?
The price-to-sales ratio of Sectra AB (publ) is 16.5 (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 Sectra AB (publ) (SECT-B)?
Earnings per share at Sectra AB (publ) are kr 3.23 (price ÷ EPS = P/E 88.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sectra AB (publ) (SECT-B)?
The dividend yield of Sectra AB (publ) is 0.4% (payout 42.5%, on adjusted earnings, reported 40.2%). 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 Sectra AB (publ) (SECT-B)?
The net margin of Sectra AB (publ) is 16.5% (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 Sectra AB (publ) (SECT-B)?
The return on equity (ROE) of Sectra AB (publ) is 28.3% (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 Sectra AB (publ) (SECT-B)?
On an EBIT basis the return on assets of Sectra AB (publ) is 15.7% (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 Sectra AB (publ) (SECT-B)?
The operating margin of Sectra AB (publ) is 19.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sectra AB (publ) (SECT-B)?
Revenue at Sectra AB (publ) is growing +25.8% versus a year earlier (3y avg +14.6%). 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 Sectra AB (publ) (SECT-B)?
Earnings per share at Sectra AB (publ) are growing +53.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Sectra AB (publ) (SECT-B) hold?
Sectra AB (publ) holds more cash than debt, 1.7B SEK net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 14, 2026