Truecaller AB (TRUE-B) Fair Value & Analysis
Technology · SE · Market cap 5.1B SEK (≈ $536M) · ISIN SE0016787071
What is Truecaller AB really worth?
A strong business, trading 39% below our fair value of kr 38.87.
Strengths
Risks
For context
Fair value as of: Aug 25, 2026
From 24 valuation models · updated 11 days ago
Share price +27.5% over the past month.
What runs behind every stock
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What matters now
- The rarer combination: high quality (85/100) AND below fair value. That earns a closer look rather than a quick verdict.
- The price is below even our cautious bear case (kr 29.22). The market is more pessimistic than our downside scenario.
- A fairly wide model range (kr 29.22 to kr 59.45) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 25, 2026.
How to read this chart
59‑month range kr 9.75 – kr 126.20 · fair‑value band kr 29.22 – kr 59.45 · the kr 23.72 price screens below the kr 38.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 25, 2026.
Analysis
Truecaller AB (TRUE-B) currently trades at kr 23.72, while our model-based Fair Value estimate is kr 38.87, implying the stock looks roughly 39.0% undervalued today. The Quality Score stands at 85/100 (high quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of kr 53.89 per share, and 20 of the 24 models we run sit above the kr 23.72 price. Bear case: the Economic Profit group reads lowest at kr 13.32, and 4 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Truecaller AB generated revenue of 1.8B SEK at a net margin of 17.6%. Revenue declined 26.5% year over year. It earns a return on equity of 22.8%. The balance sheet holds a net cash position of 250M SEK. Fundamentals as of Aug 25, 2026
Our scenario range runs from kr 29.22 (bear case) to kr 59.45 (bull case); at kr 23.72, the current price sits below 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 65% below its 52-week high and 161% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −38% fair-value upside, at 64%, TRUE-B screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 0.4348 per share, which is 1.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models (kr 53.89) versus Asset-Based (kr 3.03). Highest evidence: FCF DCF (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 25, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 83 · Market factors (momentum, volatility) 41
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Truecaller AB (publ), together with its subsidiaries, develops and publishes mobile caller ID applications for individuals and business in India, the Middle East, Africa, and internationally. The company operates a platform for verifying contacts and blocking unwanted communication under the Truecaller brand.
Full company description
Truecaller AB (publ), together with its subsidiaries, develops and publishes mobile caller ID applications for individuals and business in India, the Middle East, Africa, and internationally. The company operates a platform for verifying contacts and blocking unwanted communication under the Truecaller brand. Its software also offers Caller ID that helps prevent scams and allows users to avoid junk calls and text by verifying the caller's identity. The company was founded in 2009 and is based in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Truecaller AB reported revenue of 1.9B SEK in FY2025 versus 1.1B SEK in FY2021, a compound +14.1%/yr. Reported net income was 389M SEK in FY2025, compounding +10.8%/yr from FY2021.
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- The Board of Directors of Truecaller AB proposes reduction of the share capital through cancellation of repurchased shares
- Repurchase Truecaller B shares in week 30, 2026 and exceeding threshold for holding of own shares
- Truecaller AB (FRA:49X0) Q2 2026 Earnings Call Highlights: User Growth and Strategic ...
- Truecaller enters into an agreement to acquire US-based TextPlus Inc.
Peer Group
Software - Application · 691 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.
Valuation Multiples vs Software - Application median · lower = cheaper
Strength profile in five axes (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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 25, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAP | €191.32 | €169.59 | −11% |
| Shopify Inc SHOP | C$209.78 | C$28.76 | −86% |
| Uber Technologies, Inc UBER | $78.82 | $43.66 | −45% |
| Salesforce, Inc CRM | $252.05 | $249.28 | −1% |
| ServiceNow, Inc NOW | $138.43 | $43.73 | −68% |
| Cadence Design Systems, Inc CDNS | $340.39 | $112.57 | −67% |
| Snowflake Inc SNOW | $329.11 | $42.27 | −87% |
| Adobe Inc ADBE | $289.15 | $454.04 | +57% |
| Automatic Data Processing, Inc ADP | $284.68 | $177.51 | −38% |
| Intuit Inc INTU | $348.00 | $363.46 | +4% |
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