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Zinzino AB (ZZ-B) Fair Value & Analysis

Consumer Defensive · SE · Market cap 5.2B SEK (≈ $546M) · ISIN SE0002480442

What is Zinzino AB really worth?

ZA Zinzino AB ZZ-B · ST
Pricekr 138.80
Fair Valuekr 143.60
Upside+3.5%
Quality67/100

A solid business, currently priced close to our fair value of kr 143.60.

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Strengths

Healthy Growth (revenue 5y +22.7 %/yr)
Solidly profitable · 10.6% net margin
Low debt · generates free cash flow
Ranks above peers (11/14)
Wide moat 75/100

Risks

!The models disagree: range kr 111.79 to kr 407.42

For context

·8.65% dividend yield
Evidence: High Range kr 111.79 – kr 407.42

Fair value as of: Aug 19, 2026

From 24 valuation models · updated 16 days ago

Share price +5.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The model range is unusually wide (kr 111.79 to kr 407.42). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.

Price vs Fair Value (5 years)

kr 276.35 kr 21.66 Fair Value kr 143.60 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range kr 21.66 – kr 276.35 · fair‑value band kr 111.79 – kr 407.42 · the kr 138.80 price screens below the kr 143.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Zinzino AB (ZZ-B) currently trades at kr 138.80, while our model-based Fair Value estimate is kr 143.60, implying the stock looks roughly 3.3% fairly valued today. The Quality Score stands at 67/100 (solid quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of kr 332.54 per share, and 17 of the 24 models we run sit above the kr 138.80 price. Bear case: the Economic Profit group reads lowest at kr 68.81, and 7 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Zinzino AB generated revenue of 3.5B SEK at a net margin of 10.6%. Revenue grew 27.4% year over year. It earns a return on equity of 45.6%. The balance sheet holds a net cash position of 729M SEK. Fundamentals as of Aug 19, 2026

Our scenario range runs from kr 111.79 (bear case) to kr 407.42 (bull case); at kr 138.80, 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 51% below its 52-week high and 32% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −27% fair-value upside, at 3%, ZZ-B screens cheaper than that median.

Fair Value models

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.

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
FCF DCF kr 272.60 kr 407.64 kr 828.69 76
Growth DCF kr 257.36 kr 444.83 kr 811.71 75
5Y EBITDA Exit kr 152.68 kr 225.43 kr 367.04 74
All 24 models by family
DCF Models
FCF DCF kr 272.60 kr 407.64 kr 828.69 76
Owner Earnings kr 175.65 kr 362.09 kr 739.10 71
5Y Revenue Exit kr 145.63 kr 211.18 kr 346.34 71
5Y EBITDA Exit kr 152.68 kr 225.43 kr 367.04 74
5Y P/E Exit kr 204.64 kr 404.59 kr 672.77 68
10Y Revenue Exit kr 182.94 kr 317.71 kr 385.76 67
10Y EBITDA Exit kr 190.80 kr 332.54 kr 559.03 66
10Y P/E Exit kr 227.88 kr 441.87 kr 783.66 61
Earnings-Based
Graham-Dodd kr 64.76 kr 451.65 kr 633.83 63
Lynch FV kr 172.34 kr 246.20 kr 320.06 61
PEG = 1.0 kr 172.34 kr 246.20 kr 320.06 57
EPV kr 62.47 kr 68.81 kr 74.28 74
Multiples
P/E Multiple kr 150.00 kr 200.01 kr 250.01 63
P/S Multiple kr 111.79 kr 149.05 kr 186.31 58
P/B Multiple kr 85.67 kr 114.22 kr 142.78 55
EV/EBIT kr 113.99 kr 144.54 kr 175.09 66
EV/EBITDA kr 101.98 kr 128.52 kr 155.06 67
EV/Revenue kr 87.76 kr 115.79 kr 143.82 54
Asset-Based
NCAV (Graham) kr 10.38 kr 13.91 kr 20.77 54
Growth DCF
Growth DCF kr 257.36 kr 444.83 kr 811.71 75
Rev-Margin DCF kr 146.74 kr 238.74 kr 411.74 70
Economic Profit
Residual Income kr 76.32 kr 118.04 kr 1,760 64
ROIC Compounder kr 62.47 kr 68.81 kr 74.28 72
Growth Earnings
Growth-Adj P/E kr 219.38 kr 313.40 kr 407.42 67

Widest divergence: DCF Models (kr 332.54) versus Asset-Based (kr 13.91). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 13.5 as of Jul 11, 2026
P/S ratio 1.38 P/E × margin
EPS (TTM) kr 9.85 price ÷ EPS = P/E 13.5
Dividend yield 8.6% payout 122%
Net margin 10.2% FY2025
Return on equity 45.6% TTM
More key figures
Profitability
Return on assets (EBIT) 15.8% avg 5y
Operating margin 14.2% TTM
Growth
Revenue (TTM) 3.5B SEK TTM
Revenue growth (YoY) +27.4% 3y avg +30.0%
EPS growth (YoY) +81.2%
Balance sheet & cash flow
Free cash flow 536M SEK FY2025
Net cash 729M SEK FY2025

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 69 · Market factors (momentum, volatility) 27

Profitability 75
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 33
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 57
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.

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

Zinzino AB (publ), a direct sales company, provides dietary supplements and skincare products in Sweden and internationally. The company operates through two segments, Zinzino and Faun. It offers skincare products including cleansers, face creams, serums, and masks.

Full company description

Zinzino AB (publ), a direct sales company, provides dietary supplements and skincare products in Sweden and internationally. The company operates through two segments, Zinzino and Faun. It offers skincare products including cleansers, face creams, serums, and masks. The company provides coffee, coffee machines, accessories, and cups; immune, omega, and restored supplements; weight management products; gut health supplements; and home health test products. It also sells its products online. The company was founded in 2005 and is based in Västra Frölunda, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zinzino AB reported revenue of 3.2B SEK in FY2025 versus 1.4B SEK in FY2021, a compound +23.3%/yr. Reported net income was 324M SEK in FY2025, compounding +39.3%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.2B SEK
Latest YoY
+43.8%
Avg. revenue 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.
+30.0%
Avg. revenue 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.
+22.7%
Avg. revenue growth/yr (16Y) 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.
+30.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+44.3% (35.7 + 8.6)
Revenue +23.3%/yr
FY21 1.4B SEK
FY22 1.4B SEK
FY23 1.8B SEK
FY24 2.2B SEK
FY25 3.2B SEK
Net income +39.3%/yr
FY21 86.2M SEK
FY22 67.7M SEK
FY23 164M SEK
FY24 169M SEK
FY25 324M SEK
Character of growth · EPS growth decomposed (2014-2025) +32.6 % p.a.
Revenue per share +19.5 %

of which total revenue +20.9 % · buybacks/dilution −1.1 %

EBIT margin +8.4 %
Tax rate −3.3 %
Residual (interest, one-offs) +5.8 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Zinzino AB Fair Value". https://www.fairvalue-calculator.com/stock/ZZ-B

Peer Group

Packaged Foods · 649 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 67 · Top 25%
Fair Value upside +4% · Above median
Return on equity (TTM) 46% · Top 25%
Return on assets 16% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 27% · Top 25%
Dividend yield (TTM) 8.6% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 13.5× · Cheaper than median
P/B 7.37× · Pricier than 75% of peers
P/S (TTM) 1.48× · Pricier than median
P/FCF 1.0× · Cheaper than median
EV/EBITDA 9.2× · Pricier than median

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE38 · sector 26
FUTURE100 · sector 21
PAST100 · sector 28
HEALTH99 · sector 96
DIVIDEND100 · sector 54

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

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Nestlé S.A NESN CHF 78.62 CHF 57.26 −27%
Danone S.A BN €64.28 €48.41 −25%
Nestlé India Limited NESTLEIND ₹1,478 ₹251.94 −83%
The Kraft Heinz Company KHC $25.13 $24.59 −2%
Foshan Haitian Flavouring and Food Company 603288 ¥35.05 ¥21.93 −37%
Inner Mongolia Yili Industrial Group 600887 ¥25.51 ¥32.50 +27%
Yihai Kerry Arawana Holdings 300999 ¥25.28 ¥9.89 −61%
General Mills, Inc GIS $40.44 $28.32 −30%
Wilmar International Limited F34 3.64 SGD 3.89 SGD +7%
Britannia Industries Limited BRITANNIA ₹5,511 ₹1,765 −68%

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Frequently asked questions

Is Zinzino AB (ZZ-B) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of kr 143.60 versus a price of kr 138.80, about +3% upside (fairly valued).
What is the fair value of ZZ-B?
Our model-based fair value for Zinzino AB is kr 143.60 (as of Aug 19, 2026), built from audited fundamentals. The current price: kr 138.80.
What is the quality score of ZZ-B?
Zinzino AB has a Quality Score of 67/100. 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 Zinzino AB (ZZ-B)?
Zinzino AB reported trailing-twelve-month revenue of about 3.5B SEK (latest available figure, as of Aug 19, 2026).
What is the net profit margin of ZZ-B?
The net profit margin of Zinzino AB is about 10.6%, meaning it keeps roughly 10.6% of revenue as net income. Based on the latest reported figures.
Does Zinzino AB pay a dividend?
Zinzino AB currently shows a dividend yield of about 8.65% relative to its recent price (as of Aug 19, 2026).
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