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Uswe Sports AB (USWE) Fair Value & Analysis

Consumer Cyclical · SE · Market cap 78.5M SEK

US Uswe Sports AB USWE · ST
Pricekr 7.80
Fair Valuekr 11.91
Upside+52.7%
Quality56/100
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Mixed Growth
Loss-making · -1.8% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/12)
Narrow moat 17/100
Evidence: Medium Range kr 8.89 – kr 14.93 Share as image

Fair value as of: Jul 13, 2026

From 11 valuation models · updated 28 days ago

Share price −29.1% over the past month.

A solid business, screening 53% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (kr 8.89). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

kr 77.80 kr 6.60 Fair Value kr 11.91 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range kr 6.60 – kr 77.80 · fair‑value band kr 8.89 – kr 14.93 · the kr 7.80 price screens below the kr 11.91 fair value. Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Uswe Sports AB (USWE) currently trades at kr 7.80, while our model-based Fair Value estimate is kr 11.91, implying the stock looks roughly 52.7% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Cyclical 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: medium), always confirm before acting.

Over the trailing twelve months, Uswe Sports AB generated revenue of 140M SEK at a net margin of -8.5%. Revenue grew 1.6% year over year. It earns a return on equity of -16.9%. Net debt stands at 1.2M SEK. Fundamentals as of Jul 13, 2026

Our scenario range runs from kr 8.89 (bear case) to kr 14.93 (bull case); at kr 7.80, 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 58% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at 53%, USWE 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 26.41 kr 42.62 kr 70.06 80
Rev-Margin DCF kr 20.43 kr 37.48 kr 63.17 74
EV/EBITDA kr 9.04 kr 12.06 kr 15.08 54
All 11 models by family
DCF Models
FCF DCF kr 27.99 kr 40.72 kr 74.78 38
Owner Earnings kr 4.91 kr 9.66 kr 17.95 31
5Y Revenue Exit kr 20.43 kr 34.30 kr 61.28 39
5Y EBITDA Exit kr 15.54 kr 23.89 kr 38.89 41
10Y Revenue Exit kr 22.33 kr 40.14 kr 57.21 36
10Y EBITDA Exit kr 19.85 kr 32.02 kr 51.86 37
Multiples
EV/EBITDA kr 9.04 kr 12.06 kr 15.08 54
EV/Revenue kr 15.89 kr 22.71 kr 29.53 43
Asset-Based
NCAV (Graham) kr 4.72 kr 6.33 kr 9.44 50
Growth DCF
Growth DCF kr 26.41 kr 42.62 kr 70.06 80
Rev-Margin DCF kr 20.43 kr 37.48 kr 63.17 74

Widest divergence: Growth DCF (kr 37.48) versus Asset-Based (kr 6.33). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 138M SEK
Revenue growth (YoY) -13.6%
Net margin -1.8%
Return on equity -3.5%
Free cash flow 17.5M SEK FY2026
Operating margin -1.8%
More key figures
EPS (TTM) kr -0.3400
EPS growth (YoY) -58.8%
Net debt 1.2M SEK FY2026

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 59 · Market factors (momentum, volatility) 18

Profitability 43
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 4
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 11
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

Uswe Sports AB (publ) engages in the develops and produces outdoor equipment for the sports and outdoor market in North America, rest of Europe, Sweden, and internationally.

Full company description

Uswe Sports AB (publ) engages in the develops and produces outdoor equipment for the sports and outdoor market in North America, rest of Europe, Sweden, and internationally. The company offers hydration packs, daypacks, vests, protector packs, waist packs, bikepacking bags, and hydration accessories, as well as accessories; jerseys, bibs and shorts, pants, jackets, vests, and gloves and socks; gear packs and trolleys; and merch and body products. It also provides clothing products, including shirts, shorts, and sleeves. The company offers its products for various sports activities, such as mountain biking, motorsport, skiing, and trail running. It sells its products through its website and amazon. Uswe Sports AB (publ) was incorporated in 1999 and is headquartered in Malmö, Sweden.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Uswe Sports AB reported revenue of kr 135M in FY2026 versus kr 82.8M in FY2022, a compound +13.0%/yr. Reported net income was −kr 2.4M in FY2026.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
135M SEK
Latest YoY
+8.9%
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.
+12.6%
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.
+25.2%
Avg. growth/yr (7Y) 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.
+35.5%
Revenue +13.0%/yr
FY22 kr 82.8M
FY23 kr 94.6M
FY24 kr 114M
FY25 kr 124M
FY26 kr 135M
Net income
FY22 kr 4.5M
FY23 −kr 16.7M
FY24 −kr 7.9M
FY25 −kr 14.4M
FY26 −kr 2.4M

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Cite: Fair Value Calculator (2026). "Uswe Sports AB Fair Value". https://www.fairvalue-calculator.com/stock/USWE

Peer Group

Leisure · 190 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 56 · Above median
Fair Value upside +53% · Top 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -2% · Below median
Operating margin (TTM) -2% · Below median
Revenue growth -14% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Leisure median · lower = cheaper

P/B 0.12× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers
P/FCF 0.5× · Cheaper than median
EV/EBITDA 1.5× · 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 100 · sector 14
FUTURE 0 · sector 18
PAST 0 · sector 19
HEALTH 98 · sector 94
DIVIDEND 0 · sector 51

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 Leisure stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
ANTA Sports Products Limited 2020 HK$74.15 HK$119.29 +61%
Pop Mart International Group 9992 HK$160.20 HK$227.30 +42%
Amer Sports, Inc AS $36.44 $16.16 -56%
Hasbro, Inc HAS $81.55 $83.38 +2%
Life Time Group LTH $42.15 $16.15 -62%
Acushnet Holdings GOLF $114.78 $37.79 -67%
Li Ning Company 2331 HK$14.80 HK$29.26 +98%
Benefit Systems S.A BFT 5,255 PLN 3,714 PLN -29%
Ninebot Limited 689009 ¥37.82 ¥39.17 +4%
Asmodee Group ASMDEEB kr 145.70 kr 41.90 -71%

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Frequently asked questions

Is Uswe Sports AB (USWE) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of kr 11.91 versus a price of kr 7.80, about +53% (undervalued).
What is the fair value of USWE?
Our model-based fair value for Uswe Sports AB is kr 11.91 (as of Jul 13, 2026), built from audited fundamentals. The current price is kr 7.80.
What is the quality score of USWE?
Uswe Sports AB has a Quality Score of 56/100. 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 Uswe Sports AB (USWE)?
Uswe Sports AB reported trailing-twelve-month revenue of about 140M SEK (latest available figure, as of Jul 13, 2026).
What is the net profit margin of USWE?
The net profit margin of Uswe Sports AB is about -8.5%, meaning it is currently running at a net loss. 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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