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Shape Robotics AS (SHAPE) Fair Value & Analysis

Technology · DK · Market cap 95.8M DKK (≈ $14.9M) · ISIN DK0061273125

What is Shape Robotics AS really worth?

SR Shape Robotics AS SHAPE · CO
Price from Aug 21, 2026kr 5.03
Fair Valuekr 7.61
Upside+51.2%
Quality22/100

Below-average quality, trading 34% below our fair value of kr 7.61.

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Strengths

Ranks above peers (8/11)

Risks

!Mixed Growth (revenue 5y +106.4 %/yr)
!Thin margins · 4.2% net margin
!Low debt · negative free cash flow
!Narrow moat 39/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range kr 4.19 – kr 11.02

Fair value as of: Aug 20, 2026

From 3 valuation models · updated 12 days ago

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (22/100). That raises the risk this is a value trap rather than a bargain.
  • The model range is unusually wide (kr 4.19 to kr 11.02). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

kr 45.50 kr 1.90 Fair Value kr 7.61 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range kr 1.90 – kr 45.50 · fair‑value band kr 4.19 – kr 11.02 · the kr 5.03 price screens below the kr 7.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

Shape Robotics AS (SHAPE) currently trades at kr 5.03, while our model-based Fair Value estimate is kr 7.61, implying the stock looks roughly 33.9% undervalued today. The Quality Score stands at 22/100 (below-average quality), in the Technology sector. How firm this estimate is: it rests on 6 models at a data quality of 91/100, which puts the evidence level at low.

Over the trailing twelve months, Shape Robotics AS generated revenue of 325M DKK at a net margin of 4.2%. Revenue declined 15.8% year over year. It earns a return on equity of 7.4%. Net debt stands at 136M DKK. Fundamentals as of Aug 20, 2026

Our scenario range runs from kr 4.19 (bear case) to kr 11.02 (bull case); at kr 5.03, the current price sits within 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 77% below its 52-week high and 218% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −38% fair-value upside, at 51%, SHAPE screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2024 figures, and about 12 months have passed since. In that time the company retained roughly kr 0.9200 per share, which is 12.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
EV/EBITDA best evidence kr 11.92 kr 15.94 kr 19.96 67
EV/EBIT kr 0.0200 61
NCAV (Graham) kr 4.05 kr 5.43 kr 8.10 54
All 3 models by family
Multiples
EV/EBIT kr 0.0200 61
EV/EBITDA best evidence kr 11.92 kr 15.94 kr 19.96 67
Asset-Based
NCAV (Graham) kr 4.05 kr 5.43 kr 8.10 54

Widest divergence: Multiples (kr 15.94) versus Asset-Based (kr 5.43). Highest evidence: EV/EBITDA (67).

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Key figures & financial health

P/E ratio 5.5
P/S ratio 0.29 TTM
EPS (TTM) kr 0.9200 price ÷ EPS = P/E 5.5
Net margin −4.7% FY2024
Return on equity 7.4% TTM
Return on assets (EBIT) −23.2% avg 5y
More key figures
Profitability
Operating margin 17.5% TTM
Growth
Revenue (TTM) 325M DKK TTM
Revenue growth (YoY) −15.8% 3y avg +155%
EPS growth (YoY) −55.1%
Balance sheet & cash flow
Free cash flow −90.5M DKK FY2024
Net debt 136M DKK FY2024

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 22/100

Of which business quality 24 · Market factors (momentum, volatility) 17

Profitability 18
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 25
Balance sheet, leverage, solvency risk
Investment 6
Disciplined investing over empire-building
Low Volatility 3
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 10
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Shape Robotics A/S, an educational technology company, engages in the provision of intelligent classroom solutions, educational robots, software, and specific services primarily to educational institutions.

Full company description

Shape Robotics A/S, an educational technology company, engages in the provision of intelligent classroom solutions, educational robots, software, and specific services primarily to educational institutions. The company offers Thinken, a mobile science, technology, engineering, arts, and mathematics (STEAM) lab; Smart Classrooms that provide a suite of hardware and software tools, such as multifunctional robots, interactive displays, VR headsets, 3D printers, scanners, laser cutters, and drones; and Techducator, an educational platform tool that provides video resources for Smart Classrooms and Thinken. It also provides Fable, a modular educational robot that includes Skribot, an educational robotics kit that comprises a hands-on learning experience in mechanics, electronics, and programming; and SkriKit, an educational building set with construction plates, connectors, brackets, and stabilizing nuts. It serves public entities and educational institutions through its distributor network. It operates in Denmark, Romania, Poland, the United States, the United Kingdom, Moldova, and internationally. Shape Robotics A/S was founded in 2017 and is headquartered in Herlev, Denmark.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Shape Robotics AS reported revenue of 302M DKK in FY2024 versus 6.0M DKK in FY2020, a compound +165.8%/yr. Reported net income was −14.3M DKK in FY2024.

Growth Quality 50/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
302M DKK
Latest YoY
+76.3%
Avg. revenue 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.
+154.9%
Avg. revenue 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.
+106.4%
Avg. revenue growth/yr (6Y) 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.
+108.4%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2024 is a loss year, no rate is defined from a loss
not computed
Revenue +165.8%/yr
FY20 6.0M DKK
FY21 18.2M DKK
FY22 88.0M DKK
FY23 171M DKK
FY24 302M DKK
Net income
FY20 −12.7M DKK
FY21 −16.3M DKK
FY22 −4.4M DKK
FY23 2.6M DKK
FY24 −14.3M DKK

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Cite: Fair Value Calculator (2026). "Shape Robotics AS Fair Value". https://www.fairvalue-calculator.com/stock/SHAPE

Peer Group

Software - Application · 721 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 22 · Bottom 25%
Fair Value upside +51% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 5% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 17% · Top 25%
Revenue growth −16% · Bottom 25%
Debt / equity 0.05× · Higher than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 5.5× · Cheaper than 75% of peers
P/B 0.10× · Cheaper than 75% of peers
P/S (TTM) 0.05× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 0
FUTURE0 · sector 38
PAST30 · sector 11
HEALTH98 · sector 98
DIVIDEND0 · sector 30

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

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAP €191.32 €169.59 −11%
Shopify Inc SHOP C$209.78 C$28.76 −86%
Uber Technologies, Inc UBER $78.82 $43.66 −45%
Salesforce, Inc CRM $252.05 $249.28 −1%
ServiceNow, Inc NOW $138.43 $43.73 −68%
Cadence Design Systems, Inc CDNS $340.39 $112.57 −67%
Snowflake Inc SNOW $329.11 $42.27 −87%
Adobe Inc ADBE $289.15 $454.04 +57%
Automatic Data Processing, Inc ADP $284.68 $177.51 −38%
Intuit Inc INTU $348.00 $363.46 +4%

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Frequently asked questions

Is Shape Robotics AS (SHAPE) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of kr 7.61 versus the last price from Aug 21, 2026 of kr 5.03, about +51% upside (undervalued).
What is the fair value of SHAPE?
Our model-based fair value for Shape Robotics AS is kr 7.61 (as of Aug 20, 2026), built from audited fundamentals. Last price (from Aug 21, 2026): kr 5.03.
What is the quality score of SHAPE?
Shape Robotics AS has a Quality Score of 22/100. 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 Shape Robotics AS (SHAPE)?
Shape Robotics AS reported trailing-twelve-month revenue of about 325M DKK (latest available figure, as of Aug 20, 2026).
What is the net profit margin of SHAPE?
The net profit margin of Shape Robotics AS is about 4.2%, meaning it keeps roughly 4.2% of revenue as net income. Based on the latest reported figures.
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