Smartoptics Group AS (SMOP) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Smartoptics Group AS NOK 9.41, price NOK 49.90, upside -81.1%, quality 73 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range kr 8.58 – kr 64.00 · fair‑value band kr 6.76 – kr 12.45 · the kr 49.90 price screens above the kr 9.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Smartoptics Group ASA provides optical networking solutions and devices in the Americas, Europe, the Middle East, Africa, and the Asia"Pacific.
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Smartoptics Group ASA provides optical networking solutions and devices in the Americas, Europe, the Middle East, Africa, and the Asia"Pacific. Its products include flexible open-line systems; multiplexers and optical add/drop multiplexers; modular transponders and muxponders; optical transceivers; active and passive systems; and optical transceivers datasheets, as well as Sosmart software suite. Its solutions are used in metro and regional network applications, as well as in metro access networks. The company serves enterprises, governments, cloud providers, Internet exchanges, and cable and telecom operators through its sales force; and business partners, which include distributors, OEMs, and VARs. The company was founded in 1990 and is headquartered in Oslo, Norway.
Stock analysis
Smartoptics Group AS (SMOP) currently trades at kr 49.90, while our model-based Fair Value estimate is kr 9.41, 81.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 9.64 per share, and 0 of the 24 models we run sit above the kr 49.90 price.
Bear case: the Asset-Based group reads lowest at kr 1.99, and 24 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: kr 6.76 (bear) to kr 12.45 (bull), the price of kr 49.90 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 73/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Smartoptics Group AS reported revenue of $75.3M in FY2025 versus $394M in FY2021, a compound −33.9%/yr. Reported net income was $4.7M in FY2025, compounding −37.4%/yr from FY2021.
Key figures
Market cap 4.9B NOK (≈ $509M) · P/E ratio 71.3 · P/S ratio 4.44 · EPS (TTM) kr 0.7000 · Dividend yield 1.2% · Net margin 6.2% · Return on equity 26.5% · Return on assets (EBIT) 13.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 146% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −62% fair-value upside, at −81%, SMOP 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 1.99 to kr 17.87). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear kr 6.76Fair Value kr 9.41Bull kr 12.45
Price kr 49.90 · Upside -81.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 0.0759 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.Evidence ⓘEvidence = 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+35.6%
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.
+9.5%
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.
−25.5%
Start year 2020 (pandemic)
Revenue growth 17 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.
+14.7%
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’19
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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.
−18.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−19.3%
Dividend (yield on the price)1.2%
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.5% → 9%
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).
+38.4%
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.
+33.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +35.2% a year for the price and +30.4% for the forecasts.
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.Communication Equipment · 295 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside−81.1% · Bottom 25%
Profitability
Return on equity (TTM)26.5% · Top 25%
Return on assets10.5% · Top 25%
Net margin (TTM)7.7% · Above median
Operating margin (TTM)12.5% · Above median
Growth and dividend
Revenue growth54.6% · Top 25%
Dividend yield (TTM)1.2% · Above median
Valuation Multiplesvs Communication Equipment median · lower = cheaper
P/E (TTM)71.3× · Pricier than median
P/B16.82× · Priciest 25%
P/S (TTM)5.41× · Priciest 25%
P/FCF90.8× · Priciest 25%
EV/EBITDA43.1× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 54
PAST (return on equity)100· sector 20
HEALTH (low debt)100· sector 98
DIVIDEND (yield)24· sector 24
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). "Smartoptics Group AS Fair Value". https://www.fairvalue-calculator.com/stock/SMOP
Frequently asked questions
Is Smartoptics Group AS (SMOP) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of kr 9.41 versus a price of kr 49.90, about −81% upside (overvalued).
What is the fair value of SMOP?
Our model-based fair value for Smartoptics Group AS is kr 9.41 (as of Oct 2, 2026), built from audited fundamentals. The current price: kr 49.90.
What is the quality score of SMOP?
Smartoptics Group AS has a Quality Score of 73/100. 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 Smartoptics Group AS (SMOP)?
Our model-based price target is the fair value of kr 9.41 (as of Oct 2, 2026) from 24 valuation models. Cautious scenario kr 6.76, optimistic scenario kr 12.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Smartoptics Group AS stock forecast for 2026?
Our models put fair value at kr 9.41, about −81% upside versus a price of kr 49.90 (overvalued). Cautious scenario kr 6.76, optimistic scenario kr 12.45. The calculation is refreshed regularly with new filings.
What is the revenue of Smartoptics Group AS (SMOP)?
Smartoptics Group AS reported trailing-twelve-month revenue of about $94.0M (latest available figure, as of Oct 2, 2026).
Does Smartoptics Group AS pay a dividend?
Smartoptics Group AS currently shows a dividend yield of about 1.20% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Smartoptics Group AS (SMOP)?
For today's price to be fair in a discounted-cash-flow model, Smartoptics Group AS would have to grow free cash flow by +38.4 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -25.5 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of SMOP use?
Our models discount Smartoptics Group AS at 9.6 %: a base by market capitalisation (small), damped by beta 0.25, country premium for Norway. 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 Smartoptics Group AS that is +38.4 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Smartoptics Group AS (SMOP) delivered so far?
Over the past 5 years revenue at Smartoptics Group AS grew -25.5 % a year. The price currently implies +38.4 % 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 Smartoptics Group AS (SMOP) growing?
The median revenue growth in the sector is +10.5 % a year. That is the yardstick for the growth priced into Smartoptics Group AS (+38.4 % 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 Smartoptics Group AS (SMOP)?
The free-cash-flow yield on the price is 1.10 %: that much free cash flow Smartoptics Group AS produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Smartoptics Group AS (SMOP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Smartoptics Group AS it is kr 9.41 per share (as of Oct 2, 2026), against a price of kr 49.90. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Smartoptics Group AS stock overvalued or undervalued in 2026?
As of Oct 2, 2026, SMOP trades above its calculated fair value: price kr 49.90, fair value kr 9.41, a gap of about −81% (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 SMOP?
No. The price is what the market pays today (kr 49.90); the fair value is what the company's own numbers justify (kr 9.41). For Smartoptics Group AS the two are kr 40.49 per share apart. That gap is exactly why we show both numbers side by side.
How much is Smartoptics Group AS worth?
The market values Smartoptics Group AS at about 4.9B NOK (market capitalisation, as of Oct 2, 2026). Per share that is kr 49.90; our models calculate a fair value of kr 9.41 per share.
What do the bullish and bearish scenarios say about SMOP?
Our models span a range for Smartoptics Group AS: cautious scenario kr 6.76, base kr 9.41, optimistic kr 12.45 per share (as of Oct 2, 2026, price kr 49.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SMOP?
Smartoptics Group AS trades at a price-to-earnings ratio of 71.3 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 9.41 is built from several models across several years. Other multiples: P/B 16.8, P/S 5.4, EV/EBITDA 43.1.
How solid is the balance sheet of Smartoptics Group AS (SMOP)?
Balance-sheet figures for Smartoptics Group AS (as of Oct 2, 2026): return on equity 26.5%. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is SMOP from its 52-week high?
Smartoptics Group AS trades at kr 49.90, about 22% below its 52-week high of kr 64.00 and 146% above the low of kr 20.26 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 9.41 is for.
Which stocks are comparable to Smartoptics Group AS?
From the same area (Technology) we also value Cisco Systems, Inc, Foxconn Industrial Internet Co, Zhongji Innolight Co, Eoptolink Technology 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 Smartoptics Group AS stock attractive at the current price?
The data as of Oct 2, 2026: price kr 49.90, calculated fair value kr 9.41 (−81%), Quality Score 73/100, 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 SMOP calculated?
We run Smartoptics Group AS 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 9.41, 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 14.9 % above its aggregate fair value. Smartoptics Group AS 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 Smartoptics Group AS (SMOP)?
The closing price on Oct 2, 2026 was kr 49.90. Our model-based fair value is kr 9.41, about −81% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Smartoptics Group AS right now?
A high-quality business (quality 73/100), 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 12.45). The favourable scenario is already priced in. 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 6.76 to kr 12.45) leaves room in how you read the outcome.
Key figures of Smartoptics Group AS
How large is the market capitalisation of Smartoptics Group AS (SMOP)?
The market capitalisation of Smartoptics Group AS is 4.9B NOK (≈ $509M). 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 Smartoptics Group AS (SMOP)?
The price-to-sales ratio of Smartoptics Group AS is 4.44 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Smartoptics Group AS (SMOP)?
Earnings per share at Smartoptics Group AS are kr 0.7000 (price ÷ EPS = P/E 71.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Smartoptics Group AS (SMOP)?
The dividend yield of Smartoptics Group AS is 1.2% (payout 85.7%). 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 Smartoptics Group AS (SMOP)?
The net margin of Smartoptics Group AS is 6.2% (fiscal year 2025). 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 Smartoptics Group AS (SMOP)?
The return on equity (ROE) of Smartoptics Group AS is 26.5% (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 Smartoptics Group AS (SMOP)?
On an EBIT basis the return on assets of Smartoptics Group AS is 13.9% (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 Smartoptics Group AS (SMOP)?
The operating margin of Smartoptics Group AS is 12.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Smartoptics Group AS (SMOP)?
Revenue at Smartoptics Group AS is growing +54.6% versus a year earlier (3y avg +9.5%). 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 Smartoptics Group AS (SMOP)?
Earnings per share at Smartoptics Group AS are growing +600% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Smartoptics Group AS (SMOP) hold?
Smartoptics Group AS holds more cash than debt, $46.4M net (fiscal year 2021). The company holds more cash than debt, a safety cushion.
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