Stockholm Treasury AB (STHLM) fair value: what the stock is really worth
As of Oct 16, 2026: fair value (intrinsic value) of Stockholm Treasury AB stock SEK 0.36, price SEK 0.19, upside +85.6%, quality 40 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Stockholm Treasury AB (publ) provides platform for companies and investors. The company was formerly known as Bodyflight Sweden AB (publ) and changed its name to Stockholm Treasury AB (publ) in December 2025. The company was incorporated in 2018 and is based in Uppsala, Sweden.
Stock analysis
Stockholm Treasury AB (STHLM) currently trades at kr 0.1940, while our model-based Fair Value estimate is kr 0.3600, implying the stock looks roughly 46.1% undervalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 92/100, which puts the data coverage at low.
Scenario range: kr 0.2700 (bear) to kr 0.4500 (bull), the price of kr 0.1940 sits below 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 40/100 (below-average quality), in the Financial Services sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Stockholm Treasury AB reported revenue of 21.5M SEK in FY2025 versus 29.1M SEK in FY2022, a compound −9.7%/yr. Reported net income was −5.5M SEK in FY2025.
Key figures
Market cap 6.4M SEK (≈ $642K) Micro · P/S ratio 0.53 · EPS (TTM) kr −0.1100 · Net margin −41.2% · Return on equity −16.3% · Return on assets (EBIT) −27.7% · Operating margin −1,023% · Revenue (TTM) 10.6M SEK.
What moves the price
The share trades about 79% below its 52-week high and 85% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −12% fair-value upside, at 86%, STHLM screens cheaper than that median.
Fair Value models
Bearkr 0.2700Fair Value kr 0.3600Bullkr 0.4500
Price kr 0.1940 · Upside +85.6%
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.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.0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−30.3%
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.
−9.7%
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
13.6% (2022) → −16.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
Free, no sign-up
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 · 663 stocks
Beats the industry median on 2/5 measures
A mixed picture versus its industry peers.
Valuation
Quality Score40 · Bottom 25%
Fair Value upside+85.6% · Top 25%
Profitability
Return on assets−177.8% · Bottom 25%
Net margin (12 months)−41.2% · Bottom 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
P/B2.29× · 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). "Stockholm Treasury AB Fair Value". https://www.fairvalue-calculator.com/stock/STHLM
Frequently asked questions
Is Stockholm Treasury AB (STHLM) overvalued or undervalued?
As of Oct 20, 2026, our model estimates a fair value of kr 0.3600 versus a price of kr 0.1940, about +86% upside (undervalued).
What is the fair value of STHLM?
Our model-based fair value for Stockholm Treasury AB is kr 0.3600 (as of Oct 20, 2026), built from audited fundamentals. The current price: kr 0.1940.
What is the quality score of STHLM?
Stockholm Treasury AB has a Quality Score of 40/100. 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 Stockholm Treasury AB (STHLM)?
Our model-based price target is the fair value of kr 0.3600 (as of Oct 20, 2026) from 1 valuation models. Cautious scenario kr 0.2700, optimistic scenario kr 0.4500. It is a calculation from audited fundamentals, not an analyst target.
What is the Stockholm Treasury AB stock forecast for 2026?
Our models put fair value at kr 0.3600, about +86% upside versus a price of kr 0.1940 (undervalued). Cautious scenario kr 0.2700, optimistic scenario kr 0.4500. The calculation is refreshed regularly with new filings.
What is the revenue of Stockholm Treasury AB (STHLM)?
Stockholm Treasury AB reported trailing-twelve-month revenue of about 10.6M SEK (latest available figure, as of Oct 20, 2026).
What is the intrinsic value of Stockholm Treasury AB (STHLM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Stockholm Treasury AB it is kr 0.3600 per share (as of Oct 20, 2026), against a price of kr 0.1940. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Stockholm Treasury AB stock overvalued or undervalued in 2026?
As of Oct 20, 2026, STHLM trades below its calculated fair value: price kr 0.1940, fair value kr 0.3600, a gap of about +86% (undervalued). 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 STHLM?
No. The price is what the market pays today (kr 0.1940); the fair value is what the company's own numbers justify (kr 0.3600). For Stockholm Treasury AB the two are kr 0.1660 per share apart. That gap is exactly why we show both numbers side by side.
How much is Stockholm Treasury AB worth?
The market values Stockholm Treasury AB at about 6.4M SEK (market capitalisation, as of Oct 20, 2026). Per share that is kr 0.1940; our models calculate a fair value of kr 0.3600 per share.
What do the bullish and bearish scenarios say about STHLM?
Our models span a range for Stockholm Treasury AB: cautious scenario kr 0.2700, base kr 0.3600, optimistic kr 0.4500 per share (as of Oct 20, 2026, price kr 0.1940). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Stockholm Treasury AB (STHLM)?
Balance-sheet figures for Stockholm Treasury AB (as of Oct 20, 2026): return on equity −16.3%. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is STHLM from its 52-week high?
Stockholm Treasury AB trades at kr 0.1940, about 79% below its 52-week high of kr 0.9250 and 85% above the low of kr 0.1050 (as of Oct 16, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.3600 is for.
Which stocks are comparable to Stockholm Treasury AB?
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 Stockholm Treasury AB stock attractive at the current price?
The data as of Oct 20, 2026: price kr 0.1940, calculated fair value kr 0.3600 (+86%), Quality Score 40/100, from 1 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 STHLM calculated?
We run Stockholm Treasury AB through 1 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 0.3600, 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. Stockholm Treasury AB currently trades 46 % below its own fair value, and the market average says nothing about that. 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 Stockholm Treasury AB (STHLM)?
The closing price on Oct 16, 2026 was kr 0.1940. Our model-based fair value is kr 0.3600, about +86% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Stockholm Treasury AB right now?
The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 0.2700). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra 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 Stockholm Treasury AB
How large is the market capitalisation of Stockholm Treasury AB (STHLM)?
The market capitalisation of Stockholm Treasury AB is 6.4M SEK (≈ $642K). 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 Stockholm Treasury AB (STHLM)?
The price-to-sales ratio of Stockholm Treasury AB is 0.53 (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 Stockholm Treasury AB (STHLM)?
Earnings per share at Stockholm Treasury AB are kr −0.1100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Stockholm Treasury AB (STHLM)?
The net margin of Stockholm Treasury AB is −41.2% (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 Stockholm Treasury AB (STHLM)?
The return on equity (ROE) of Stockholm Treasury AB is −16.3% (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 Stockholm Treasury AB (STHLM)?
On an EBIT basis the return on assets of Stockholm Treasury AB is −27.7% (avg 4y). 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 Stockholm Treasury AB (STHLM)?
The operating margin of Stockholm Treasury AB is −1,023% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much free cash flow does Stockholm Treasury AB (STHLM) generate?
The free cash flow of Stockholm Treasury AB is −1.9M SEK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Stockholm Treasury AB (STHLM) carry?
The net debt of Stockholm Treasury AB is 8.2M SEK (fiscal year 2024). 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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