Synsam AB (SYNSAM) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Synsam AB SEK 63.38, price SEK 53.60, upside +18.3%, quality 66 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 Sep 23, 2026.
How to read this chart
59‑month range kr 30.11 – kr 67.96 · fair‑value band kr 41.61 – kr 119.38 · the kr 53.60 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 Sep 23, 2026.
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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.
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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.
Stock analysis
Synsam AB (SYNSAM) currently trades at kr 53.60, while our model-based Fair Value estimate is kr 63.38, implying the stock looks roughly 15.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 115.33 per share, and 17 of the 24 models we run sit above the kr 53.60 price.
Bear case: the Asset-Based group reads lowest at kr 11.50, and 7 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 41.61 (bear) to kr 119.38 (bull), the price of kr 53.60 sits inside 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 66/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Synsam AB reported revenue of 7.1B SEK in FY2025 versus 4.7B SEK in FY2021, a compound +10.6%/yr. Reported net income was 454M SEK in FY2025, compounding +72.7%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 7.7B SEK (≈ $783M) · P/E ratio 15.5 · P/S ratio 1.00 · EPS (TTM) kr 3.46 · Dividend yield 3.4% · Net margin 6.4% · Return on equity 19.6% · Return on assets (EBIT) 8.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −12% fair-value upside, at 18%, SYNSAM screens cheaper than that median.
Fair Value models
Bear kr 41.61Fair Value kr 63.38Bull kr 119.38
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 1.21 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.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.93/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+9.8%
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%
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.
+12.8%
Start year 2020 (pandemic)
Revenue growth 7 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.
+11.0%
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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. Basis: EBIT basis.
+18.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.3%
Dividend (yield on the price)3.4%
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.10% → 10%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−6.3%
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.
+6.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about −8.1% a year for the price and +4.8% 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.Medical Instruments & Supplies · 204 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside+16% · Above median
Profitability
Return on equity (TTM)20% · Top 25%
Return on assets7% · Above median
Net margin (TTM)7% · Above median
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth4% · Below median
Dividend yield (TTM)3.4% · Top 25%
Balance sheet
Debt / equity1.13× · Highest 25%
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
P/E (TTM)15.5× · Cheapest 25%
P/B3.23× · 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). "Synsam AB Fair Value". https://www.fairvalue-calculator.com/stock/SYNSAM
Frequently asked questions
Is Synsam AB (SYNSAM) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of kr 63.38 versus a price of kr 53.60, about +18% upside (undervalued).
What is the fair value of SYNSAM?
Our model-based fair value for Synsam AB is kr 63.38 (as of Sep 23, 2026), built from audited fundamentals. The current price: kr 53.60.
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 price target for Synsam AB (SYNSAM)?
Our model-based price target is the fair value of kr 63.38 (as of Sep 23, 2026) from 24 valuation models. Cautious scenario kr 41.61, optimistic scenario kr 119.38. It is a calculation from audited fundamentals, not an analyst target.
What is the Synsam AB stock forecast for 2026?
Our models put fair value at kr 63.38, about +18% upside versus a price of kr 53.60 (undervalued). Cautious scenario kr 41.61, optimistic scenario kr 119.38. The calculation is refreshed regularly with new filings.
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 Sep 23, 2026).
Does Synsam AB pay a dividend?
Synsam AB currently shows a dividend yield of about 3.36% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Synsam AB (SYNSAM)?
For today's price to be fair in a discounted-cash-flow model, Synsam AB would have to grow free cash flow by -6.3 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.9 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of SYNSAM use?
Our models discount Synsam AB at 8.3 %: a base by market capitalisation (mid), damped by beta 0.33, country premium for Sweden. 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 Synsam AB that is -6.3 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Synsam AB (SYNSAM) delivered so far?
Over the past 5 years revenue at Synsam AB grew +12.9 % a year. The price currently implies -6.3 % 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 Synsam AB (SYNSAM) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into Synsam AB (-6.3 % 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 Synsam AB (SYNSAM)?
The free-cash-flow yield on the price is 12.80 %: that much free cash flow Synsam AB produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Synsam AB (SYNSAM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Synsam AB it is kr 63.38 per share (as of Sep 23, 2026), against a price of kr 53.60. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Synsam AB stock overvalued or undervalued in 2026?
As of Sep 23, 2026, SYNSAM trades below its calculated fair value: price kr 53.60, fair value kr 63.38, a gap of about +18% (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 SYNSAM?
No. The price is what the market pays today (kr 53.60); the fair value is what the company's own numbers justify (kr 63.38). For Synsam AB the two are kr 9.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is Synsam AB worth?
The market values Synsam AB at about 7.7B SEK (market capitalisation, as of Sep 23, 2026). Per share that is kr 53.60; our models calculate a fair value of kr 63.38 per share.
What do the bullish and bearish scenarios say about SYNSAM?
Our models span a range for Synsam AB: cautious scenario kr 41.61, base kr 63.38, optimistic kr 119.38 per share (as of Sep 23, 2026, price kr 53.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SYNSAM?
Synsam AB trades at a price-to-earnings ratio of 15.5 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 63.38 is built from several models across several years. Other multiples: P/B 3.2, P/S 1.1, EV/EBITDA 8.0.
How solid is the balance sheet of Synsam AB (SYNSAM)?
Balance-sheet figures for Synsam AB (as of Sep 23, 2026): return on equity 19.6%, debt of 1.13 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is SYNSAM from its 52-week high?
Synsam AB trades at kr 53.60, about 21% below its 52-week high of kr 67.96 and 4% above the low of kr 51.50 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 63.38 is for.
Which stocks are comparable to Synsam AB?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Medline Inc, Becton, Dickinson and Company, 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 Synsam AB stock attractive at the current price?
The data as of Sep 23, 2026: price kr 53.60, calculated fair value kr 63.38 (+18%), Quality Score 66/100, 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 SYNSAM calculated?
We run Synsam AB 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 63.38, 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 14.1 % above its aggregate fair value. Synsam AB currently trades 18 % 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 Synsam AB (SYNSAM)?
The closing price on Sep 23, 2026 was kr 53.60. Our model-based fair value is kr 63.38, about +18% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Synsam AB right now?
The model range is unusually wide (kr 41.61 to kr 119.38). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Synsam AB
How large is the market capitalisation of Synsam AB (SYNSAM)?
The market capitalisation of Synsam AB is 7.7B SEK (≈ $783M). 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 Synsam AB (SYNSAM)?
The price-to-sales ratio of Synsam AB is 1.00 (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 Synsam AB (SYNSAM)?
Earnings per share at Synsam AB are kr 3.46 (price ÷ EPS = P/E 15.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Synsam AB (SYNSAM)?
The dividend yield of Synsam AB is 3.4% (payout 52.0%). 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 Synsam AB (SYNSAM)?
The net margin of Synsam AB is 6.4% (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 Synsam AB (SYNSAM)?
The return on equity (ROE) of Synsam AB is 19.6% (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 Synsam AB (SYNSAM)?
On an EBIT basis the return on assets of Synsam AB is 8.6% (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 Synsam AB (SYNSAM)?
The operating margin of Synsam AB is 10.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Synsam AB (SYNSAM)?
Revenue at Synsam AB is growing +3.8% versus a year earlier (3y avg +9.7%). 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 Synsam AB (SYNSAM)?
Earnings per share at Synsam AB are growing +54.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Synsam AB (SYNSAM) carry?
The net debt of Synsam AB is 3.4B SEK (fiscal year 2025, ≈ 3.4 yrs of FCF). 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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