VEF AB (VEFAB) Fair Value & Analysis
Financial Services · SE · Market cap 2.1B SEK
Fair value as of: Jul 18, 2026
From 2 valuation models · updated 23 days ago
Share price +1.6% over the past month.
A strong business, but screening 22% overvalued on our models.
What matters now
- A high-quality business (quality 77/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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 1.53 – kr 6.30 · fair‑value band kr 1.07 – kr 1.79 · the kr 1.82 price screens above the kr 1.43 fair value. Dashed = 300-day average. As of Jul 18, 2026.
Analysis
VEF AB (VEFAB) currently trades at kr 1.82, while our model-based Fair Value estimate is kr 1.43, implying the stock looks roughly 21.6% overvalued today. The Quality Score stands at 77/100 (high quality), in the Financial Services 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, VEF AB generated revenue of 70.7M SEK at a net margin of 79.5%. Revenue declined 19.3% year over year. It earns a return on equity of 14.7%. Net debt stands at 15.1M SEK. Fundamentals as of Jul 18, 2026
Our scenario range runs from kr 1.07 (bear case) to kr 1.79 (bull case); at kr 1.82, the current price sits above 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 27% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at -22%, VEFAB screens richer 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 2 models by family
Widest divergence: Multiples (kr 0.3600) versus Asset-Based (kr 0.2900). Highest evidence: P/B Multiple (55).
Notify me when VEFAB reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
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 72 · Market factors (momentum, volatility) 37
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
VEF AB (publ) is a venture capital firm specializing in early venture, emerging growth and growth capital investments. The firm primarily invests in modern financial services and fintech sector. The financial services sector includes payments providers, Credit, mobile money and all forms of financial marketplaces.
Full company description
VEF AB (publ) is a venture capital firm specializing in early venture, emerging growth and growth capital investments. The firm primarily invests in modern financial services and fintech sector. The financial services sector includes payments providers, Credit, mobile money and all forms of financial marketplaces. It seeks to invest in Asia/Pacific, Africa/Middle East, European Emerging Market, Mexico, Brazil and Colombia. It typically invests in the emerging and frontier markets. It prefers to take a minority stakes and board representation. VEF AB (publ) was founded in 2015 and is based in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
VEF AB reported revenue of kr 394K in FY2025 versus −kr 33.6M in FY2021. Reported net income was kr 85.4M in FY2025, compounding −25.4%/yr from FY2021.
of which total revenue +4.3 pp · buybacks/dilution −10.3 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
VEFAB screens 22% overvalued. Compare with Fondul Proprietatea SA →
Peer Group
Asset Management · 971 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 Asset Management 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.
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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Fondul Proprietatea SA FP | $0.0420 | $0.0800 | +90% |
| BlackRock, Inc BLK | $1,136 | $465.75 | -59% |
| Blackstone Inc BX | $124.56 | $16.35 | -87% |
| Investor AB INVEB | kr 423.70 | kr 847.40 | +100% |
| Brookfield Corporation BN | C$62.45 | C$10.12 | -84% |
| KKR & Co KKR | $100.94 | $44.88 | -56% |
| AB Industrivärden INDUA | kr 532.50 | kr 1,065 | +100% |
| Jio Financial Services Limited JIOFIN | ₹242.98 | ₹40.19 | -83% |
| Hedef Holding HEDEF | 267.25 TRY | 320.98 TRY | +20% |
| Bajaj Holdings BAJAJHLDNG | ₹10,398 | ₹9,202 | -12% |
Compare VEF AB with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Financial Services stocks →
Frequently asked questions
Is VEF AB (VEFAB) overvalued or undervalued?
What is the fair value of VEFAB?
What is the quality score of VEFAB?
What is the revenue of VEF AB (VEFAB)?
What is the net profit margin of VEFAB?
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.
Track VEF AB and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.