Upsales Technology AB (UPSALE) Fair Value & Analysis
Technology · SE · Market cap 461M SEK
Fair value as of: Jul 18, 2026
From 24 valuation models · updated 23 days ago
Share price +7.4% over the past month.
A strong business, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- Our model range runs from kr 20.00 (bear) to kr 34.43 (bull), base kr 26.67. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 81/100 (high quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range kr 20.30 – kr 99.63 · fair‑value band kr 20.00 – kr 34.43 · the kr 29.20 price screens above the kr 26.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Upsales Technology AB (UPSALE) currently trades at kr 29.20, while our model-based Fair Value estimate is kr 26.67, implying the stock looks roughly 8.7% fairly valued today. The Quality Score stands at 81/100 (high quality), in the Technology 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, Upsales Technology AB generated revenue of 175M SEK at a net margin of 12.8%. Revenue grew 15.5% year over year. It earns a return on equity of 96.6%. The balance sheet holds a net cash position of 31.4M SEK. Fundamentals as of Jul 18, 2026
Our scenario range runs from kr 20.00 (bear case) to kr 34.43 (bull case); at kr 29.20, 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 32% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -9%, UPSALE 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.
All 24 models by family
Widest divergence: DCF Models (kr 36.33) versus Asset-Based (kr 0.7300). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 80 · 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.
About the company
Upsales Technology AB (publ) operates as a software-as-a-service company that develops and sells web-based business systems with a focus on sales, marketing, and analysis in Sweden and internationally.
Full company description
Upsales Technology AB (publ) operates as a software-as-a-service company that develops and sells web-based business systems with a focus on sales, marketing, and analysis in Sweden and internationally. It provides Upsales platform, which provides database and analyzes sales history and gives suggestions on actions to win more deals; AI-based lead recommendations; helps discover untapped companies in customers' corporate networks; sets data-driven targets with AI-based accuracy, as well as provides automated forecasts and alerts for tracking pipeline activity; identifies customers on multiple boards for new sales opportunities; analyzes complex sales targets, including revenue recognition, subscription ARR/MRR, and profit margin; upsell and cross-sell alerts; identifies customers on multiple boards for new sales opportunities; and syncs financial data and comes to data-driven conclusions. The company also offers sales and marketing suite, an end-to-end revenue engine with everything from professional pipeline management to recommendations on new business opportunities; access to financial and contact data of companies; and revenue analytics. Upsales Technology AB (publ) was founded in 2003 and is based in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Upsales Technology AB reported revenue of kr 152M in FY2025 versus kr 93.1M in FY2021, a compound +13.0%/yr. Reported net income was kr 22.5M in FY2025, compounding +23.3%/yr from FY2021.
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Peer Group
Software - Application · 709 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
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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.69 | C$16.26 | +28% |
| Shopify Inc SHOP | C$173.23 | C$20.54 | -88% |
| Uber Technologies, Inc UBER | $72.67 | $51.11 | -30% |
| Salesforce, Inc CRM | $170.77 | $182.10 | +7% |
| ServiceNow, Inc NOW | $107.71 | $33.12 | -69% |
| Cadence Design Systems, Inc CDNS | $384.17 | $80.41 | -79% |
| Snowflake Inc SNOW | $271.87 | $34.04 | -87% |
| Adobe Inc ADBE | $230.61 | $379.48 | +65% |
| Automatic Data Processing, Inc ADP | $241.92 | $177.51 | -27% |
| Intuit Inc INTU | $291.09 | $258.69 | -11% |
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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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