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Stille AB (STIL) Fair Value & Analysis

Healthcare · SE · Market cap 2.2B SEK

SA Stille AB STIL · ST
Pricekr 240.00
Fair Valuekr 136.38
Upside-43.2%
Quality39/100
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Expensive Growth
Solidly profitable · 10.0% net margin
Low debt · generates free cash flow
Trails peers (5/13)
Moderate moat 51/100
Evidence: High Range kr 70.80 – kr 170.47 Share as image

Fair value as of: Jul 19, 2026

From 24 valuation models · updated 21 days ago

Share price −11.3% over the past month.

Below-average quality, and screening another 43% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 170.47). The favourable scenario is already priced in.
  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (kr 70.80 to kr 170.47) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 276.00 kr 94.20 Fair Value kr 136.38 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range kr 94.20 – kr 276.00 · fair‑value band kr 70.80 – kr 170.47 · the kr 240.00 price screens above the kr 136.38 fair value. Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Stille AB (STIL) currently trades at kr 240.00, while our model-based Fair Value estimate is kr 136.38, implying the stock looks roughly 43.2% overvalued today. The Quality Score stands at 39/100 (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: high).

Over the trailing twelve months, Stille AB generated revenue of 617M SEK at a net margin of 10.0%. Revenue grew 38.5% year over year. It earns a return on equity of 8.8%. Net debt stands at 4.6M SEK. Fundamentals as of Jul 19, 2026

Our scenario range runs from kr 70.80 (bear case) to kr 170.47 (bull case); at kr 240.00, the current price sits above 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 15% below its 52-week high and 68% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -43%, STIL 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
Growth DCF kr 29.42 kr 52.48 kr 91.98 80
Residual Income kr 64.43 kr 68.48 kr 75.32 76
Rev-Margin DCF kr 65.95 kr 131.16 kr 225.19 74
All 24 models by family
DCF Models
FCF DCF kr 30.34 kr 48.38 kr 94.82 38
Owner Earnings kr 118.08 kr 239.91 kr 474.36 31
5Y Revenue Exit kr 65.95 kr 132.92 kr 239.30 39
5Y EBITDA Exit kr 98.32 kr 205.32 kr 363.14 41
5Y P/E Exit kr 81.57 kr 171.18 kr 284.64 38
10Y Revenue Exit kr 51.53 kr 114.48 kr 215.59 36
10Y EBITDA Exit kr 76.19 kr 170.73 kr 342.10 37
10Y P/E Exit kr 64.85 kr 141.62 kr 270.97 35
Earnings-Based
Graham-Dodd kr 42.15 kr 267.42 kr 373.71 54
Lynch FV kr 77.28 kr 110.40 kr 143.52 50
PEG = 1.0 kr 77.28 kr 110.40 kr 143.52 46
EPV kr 59.52 kr 67.99 kr 75.30 59
Multiples
P/E Multiple kr 102.28 kr 136.38 kr 170.47 63
P/S Multiple kr 79.04 kr 105.38 kr 131.73 58
P/B Multiple kr 79.04 kr 105.38 kr 131.73 55
EV/EBIT kr 109.04 kr 143.42 kr 177.80 53
EV/EBITDA kr 133.27 kr 175.74 kr 218.20 54
EV/Revenue kr 79.51 kr 111.06 kr 142.61 43
Asset-Based
NCAV (Graham) kr 39.44 kr 52.85 kr 78.87 50
Growth DCF
Growth DCF kr 29.42 kr 52.48 kr 91.98 80
Rev-Margin DCF kr 65.95 kr 131.16 kr 225.19 74
Economic Profit
Residual Income kr 64.43 kr 68.48 kr 75.32 76
ROIC Compounder kr 59.52 kr 67.99 kr 75.30 72
Growth Earnings
Growth-Adj P/E kr 112.07 kr 160.10 kr 208.12 68

Widest divergence: Growth Earnings (kr 160.10) versus Growth DCF (kr 52.48). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 617M SEK
Revenue growth (YoY) +38.5%
Net margin 10.0%
Return on equity 8.8%
Free cash flow 15.6M SEK FY2025
P/E ratio 36.5
More key figures
Operating margin 16.7%
EPS (TTM) kr 6.89
EPS growth (YoY) +43.0%
Net debt 4.6M SEK FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 41 · Market factors (momentum, volatility) 63

Profitability 42
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 20
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 30
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 40
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

Stille AB develops, manufactures, and distributes medtech products in Sweden, Germany, the United Kingdom, Switzerland, North America, the United States, and internationally. It operates through the Surgical Instruments and Surgical Tables segments.

Full company description

Stille AB develops, manufactures, and distributes medtech products in Sweden, Germany, the United Kingdom, Switzerland, North America, the United States, and internationally. It operates through the Surgical Instruments and Surgical Tables segments. The Surgical Instruments segment offers surgical scissors, including SuperCut, eye, blepharoplasty, operating, vascular, tenotomy, and face-lift scissors; colon, gall duct, multi-purpose, tangential occlusion, peripheral vascular, and anastomosis clamps; skin and nerve hooks, retractors, rib spreaders, self-retaining and trachea retractors, and nasal specula; and dressing, diathermy, knot-holding, tissue, iris, dura, and vascular forceps under the STILLE, Fehling, S&T, and Surgical Holdings brands. Its Surgical Tables segment provides C-arm tables, which are surgical tables used in advanced imaging, cardiac electrophysiology, cardiovascular and vascular, gastrointestinal and abdominal, interventional radiology, neuro/spine, pain management, and pulmonary under the imagiQ and MedStone brands. The company also offers instrument care education, repair and maintenance, and inspection services. Stille AB was founded in 1841 and is headquartered in Torshälla, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Stille AB reported revenue of kr 568M in FY2025 versus kr 187M in FY2021, a compound +32.0%/yr. Reported net income was kr 55.7M in FY2025, compounding +36.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
568M SEK
Latest YoY
−0.4%
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.
+32.1%
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.
+31.8%
Avg. growth/yr (17Y) 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.
+11.0%
Revenue +32.0%/yr
FY21 kr 187M
FY22 kr 246M
FY23 kr 295M
FY24 kr 570M
FY25 kr 568M
Net income +36.4%/yr
FY21 kr 16.1M
FY22 kr 27.3M
FY23 kr 26.6M
FY24 kr 58.2M
FY25 kr 55.7M
Character of growth · EPS growth decomposed (2014-2025) +13.1 % p.a.
Revenue per share +14.8 pp

of which total revenue +20.8 pp · buybacks/dilution −6.0 pp

EBIT margin +4.9 pp
Tax rate −1.8 pp
Residual (interest, one-offs) −4.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

STIL screens 43% overvalued. Compare with Intuitive Surgical, Inc →

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

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 39 · Bottom 25%
Fair Value upside −43% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 6% · Above median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 17% · Above median
Revenue growth 39% · Top 25%
Debt / equity 0.09× · Higher than median

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

P/E (TTM) 35.0× · Pricier than median
P/B 3.06× · Pricier than median
P/S (TTM) 3.51× · Pricier than median
P/FCF 14.6× · Pricier than median
EV/EBITDA 19.0× · Pricier than median

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 0 · sector 0
FUTURE 100 · sector 27
PAST 35 · sector 25
HEALTH 95 · sector 96
DIVIDEND 0 · sector 32

VALUE 0: the price sits above our fair-value range.

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 19, 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 Stille AB (STIL) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of kr 136.38 versus a price of kr 240.00, about −43% (overvalued).
What is the fair value of STIL?
Our model-based fair value for Stille AB is kr 136.38 (as of Jul 19, 2026), built from audited fundamentals. The current price is kr 240.00.
What is the quality score of STIL?
Stille AB has a Quality Score of 39/100. 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 Stille AB (STIL)?
Stille AB reported trailing-twelve-month revenue of about 617M SEK (latest available figure, as of Jul 19, 2026).
What is the net profit margin of STIL?
The net profit margin of Stille AB is about 10.0%, meaning it keeps roughly 10.0% of revenue as net income. 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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