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Synsam AB (SYNSAM) Fair Value & Analysis

Healthcare · SE · Market cap 7.9B SEK

SA Synsam AB SYNSAM · ST
Pricekr 55.70
Fair Valuekr 63.38
Upside+13.8%
Quality66/100
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Healthy Growth
Thin margins · 7.0% net margin
Moderate debt · generates free cash flow
3.24% dividend yield
Ranks above peers (10/14)
Moderate moat 53/100
Evidence: High Range kr 41.61 – kr 85.15 Share as image

Fair value as of: Jul 16, 2026

From 24 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from kr 70.36 to kr 63.38 (−9.9%) since Jun 24, 2026.

A solid business, screening 14% undervalued on our models.

What matters now

  • A fairly wide model range (kr 41.61 to kr 85.15) leaves room in how you read the outcome.
  • Our model range runs from kr 41.61 (bear) to kr 85.15 (bull), base kr 63.38. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 66/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

kr 67.96 kr 30.11 Fair Value kr 63.38 Oct 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

57‑month range kr 30.11 – kr 67.96 · fair‑value band kr 41.61 – kr 85.15 · the kr 55.70 price screens below the kr 63.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Synsam AB (SYNSAM) currently trades at kr 55.70, while our model-based Fair Value estimate is kr 63.38, implying the stock looks roughly 13.8% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Synsam AB generated revenue of 7.1B SEK at a net margin of 7.0%. Revenue grew 3.8% year over year. It earns a return on equity of 19.6%. Net debt stands at 3.4B SEK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 41.61 (bear case) to kr 85.15 (bull case); at kr 55.70, 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 20% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at 14%, SYNSAM 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 BearBaseBull Evidence
Highest evidence
Growth DCF kr 67.37 kr 121.48 kr 206.47 80
Residual Income kr 20.21 kr 26.70 kr 91.66 76
Rev-Margin DCF kr 43.08 kr 78.29 kr 122.75 74
All 24 models by family
DCF Models
FCF DCF kr 67.71 kr 126.18 kr 220.98 38
Owner Earnings kr 68.80 kr 128.04 kr 224.08 31
5Y Revenue Exit kr 43.08 kr 78.33 kr 124.46 39
5Y EBITDA Exit kr 82.15 kr 157.03 kr 249.49 41
5Y P/E Exit kr 44.79 kr 81.77 kr 122.55 38
10Y Revenue Exit kr 49.57 kr 84.99 kr 135.89 36
10Y EBITDA Exit kr 76.14 kr 140.62 kr 235.92 37
10Y P/E Exit kr 52.15 kr 87.42 kr 134.36 35
Earnings-Based
Graham-Dodd kr 21.76 kr 92.91 kr 126.90 54
Lynch FV kr 23.74 kr 33.91 kr 44.09 50
PEG = 1.0 kr 23.74 kr 33.91 kr 44.09 46
EPV kr 22.70 kr 28.68 kr 33.84 59
Multiples
P/E Multiple kr 52.79 kr 70.39 kr 87.98 63
P/S Multiple kr 40.79 kr 54.39 kr 67.99 58
P/B Multiple kr 40.79 kr 54.39 kr 67.99 55
EV/EBIT kr 50.16 kr 71.94 kr 93.71 53
EV/EBITDA kr 99.75 kr 138.06 kr 176.36 54
EV/Revenue kr 31.46 kr 51.44 kr 71.42 43
Asset-Based
NCAV (Graham) kr 8.58 kr 11.50 kr 17.17 50
Growth DCF
Growth DCF kr 67.37 kr 121.48 kr 206.47 80
Rev-Margin DCF kr 43.08 kr 78.29 kr 122.75 74
Economic Profit
Residual Income kr 20.21 kr 26.70 kr 91.66 76
ROIC Compounder kr 24.90 kr 37.68 kr 55.04 72
Growth Earnings
Growth-Adj P/E kr 40.98 kr 58.54 kr 76.10 68

Widest divergence: DCF Models (kr 87.42) versus Asset-Based (kr 11.50). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 7.1B SEK
Revenue growth (YoY) +3.8%
Net margin 7.0%
Return on equity 19.6%
Free cash flow 991M SEK FY2025
P/E ratio 16.2
More key figures
Operating margin 10.5%
EPS (TTM) kr 3.46
Dividend yield 3.2%
EPS growth (YoY) +54.0%
Net debt 3.4B SEK FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 62 · Market factors (momentum, volatility) 52

Profitability 46
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 98
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

Synsam AB (publ), together with its subsidiaries, operates in the optical retail and eye health sector in the Nordic Region. The company offers lenses, frames, sunglasses, sports spectacles, contact lenses, eye care accessories, and hearing aids.

Full company description

Synsam AB (publ), together with its subsidiaries, operates in the optical retail and eye health sector in the Nordic Region. The company offers lenses, frames, sunglasses, sports spectacles, contact lenses, eye care accessories, and hearing aids. It also provides eye health services, hearing tests, lifestyle subscriptions, contact lens subscriptions, personal style advice services, and eye examination services, including physical and online examination services. The company offers its products and services through directly owned and franchised stores, as well as through e-commerce warehouses in Sweden, Denmark, Norway, Iceland, Faroe Islands, and Finland under the Synsam, Profil Optik, Fellepini, Oscar Eide, EyeQ , Jämtö, and Index brands. Synsam AB (publ) was founded in 1968 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Synsam AB reported revenue of kr 7.1B in FY2025 versus kr 4.7B in FY2021, a compound +10.6%/yr. Reported net income was kr 454M in FY2025, compounding +72.7%/yr from FY2021.

Growth Quality 93/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
7.1B SEK
Latest YoY
+9.8%
Avg. growth/yr (3Y)
+9.7%
Avg. growth/yr (5Y)
+12.8%
Avg. growth/yr (7Y)
+11.0%
Revenue +10.6%/yr
FY21 kr 4.7B
FY22 kr 5.3B
FY23 kr 5.9B
FY24 kr 6.4B
FY25 kr 7.1B
Net income +72.7%/yr
FY21 kr 51.0M
FY22 kr 328M
FY23 kr 311M
FY24 kr 366M
FY25 kr 454M

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

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 66 · Above median
Fair Value upside +14% · Top 25%
Return on equity (TTM) 20% · Top 25%
Return on assets 7% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 10% · Below median
Revenue growth 4% · Below median
Dividend yield (TTM) 3.2% · Above median
Debt / equity 1.13× · Higher than 75% of peers

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

P/E (TTM) 16.2× · Cheaper than median
P/B 3.26× · Pricier than median
P/S (TTM) 1.11× · Cheaper than median
P/FCF 0.8× · Cheaper than 75% of peers
EV/EBITDA 8.1× · Cheaper than 75% of peers

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 52 · sector 0
FUTURE 19 · sector 27
PAST 78 · sector 25
HEALTH 44 · sector 96
DIVIDEND 65 · sector 32

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 16, 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 Synsam AB (SYNSAM) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 63.38 versus a price of kr 55.70, about +14% (undervalued).
What is the fair value of SYNSAM?
Our model-based fair value for Synsam AB is kr 63.38 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 55.70.
What is the quality score of SYNSAM?
Synsam AB has a Quality Score of 66/100. 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 Synsam AB (SYNSAM)?
Synsam AB reported trailing-twelve-month revenue of about 7.1B SEK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of SYNSAM?
The net profit margin of Synsam AB is about 7.0%, meaning it keeps roughly 7.0% of revenue as net income. Based on the latest reported figures.
Does Synsam AB pay a dividend?
Synsam AB currently shows a dividend yield of about 3.25% relative to its recent price (as of Jul 16, 2026).

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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