FormPipe Software AB (FPIP) Fair Value & Analysis
Information Technology · SE · Market cap 1.6B SEK (≈ $168M) · ISIN SE0001338039
What is FormPipe Software AB really worth?
A solid business, but trading 21% above our fair value of kr 24.73.
Strengths
Risks
Fair value as of: Sep 5, 2026
From 22 valuation models · updated today
Share price +0.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range kr 18.60 – kr 42.49 · fair‑value band kr 18.55 – kr 30.92 · the kr 29.90 price screens above the kr 24.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.
Analysis
FormPipe Software AB (FPIP) currently trades at kr 29.90, while our model-based Fair Value estimate is kr 24.73, implying the stock looks roughly 20.9% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Information Technology sector. Bull case: the Growth Earnings group reads highest at a median of kr 198.64 per share, and 8 of the 22 models we run sit above the kr 29.90 price. Bear case: the Growth DCF group reads lowest at kr 5.30, and 14 of the 22 models stay below the price. Evidence for this calculation is low.
Trailing-twelve-month revenue stands at 243M SEK. Revenue declined 0.2% year over year. It earns a return on equity of −6.6%. The balance sheet holds a net cash position of 18.0M SEK. Fundamentals as of Sep 5, 2026
Our scenario range runs from kr 18.55 (bear case) to kr 30.92 (bull case); at kr 29.90, 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 4% below its 52-week high and 70% above its 52-week low, currently above its 200-day average. For context, the median of 10 Information Technology peers we cover trades at −26% fair-value upside, at −17%, FPIP 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.
All 22 models by family
Widest divergence: Growth Earnings (kr 198.64) versus Earnings-Based (kr 1.76). Highest evidence: FCF DCF (82).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 59
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
Formpipe Software AB (publ) provides software and consulting services for capturing, managing, and distributing information in Sweden, Denmark, rest of Nordic countries, the United Kingdom, Germany, rest of Europe, North America, and internationally.
Full company description
Formpipe Software AB (publ) provides software and consulting services for capturing, managing, and distributing information in Sweden, Denmark, rest of Nordic countries, the United Kingdom, Germany, rest of Europe, North America, and internationally. The company offers products that are used to create, store, distribute, automate, relocate, archive, and manage information, data, and metadata. Its products include Lasernet that allows user to create and distribute documents for various ERP and bank; Autoform DM, a digital archive solution; Formpipe Cloud for document generation, delivery, and archiving through the cloud; Autoform DM for Dynamics 365; Lasernet for Business Central to create, manage, and distribute branded and formatted documentation; Lasernet for Document Input Management; Lasernet for Dynamics 365; Lasernet Vault365, a solution that supports data migration and Microsoft Dynamics 365 implementation; and X-docs, a SaaS-based quality management system solution. The company also provides Acarde, a case and document management platform; Adoxa, an application that automates scanning and deviation management; Long-Term Archive, a solution for long-term digital preservation; Meeting Management solutions; TAS for grants management platform; TAP, a business platform that supports and automates business processes; platform for document and cash management under the Platina and W3D3 names; Meetings Live to manage meetings; Meetings Plus, a digital meeting management solution; Portal Bas to design and publish e-services; Trustee Management solution; ATOM, a technical solution for municipalities' technical and environmental projects; and The Signing Portal, a solution for managing electronic signatures. It serves retail, manufacturing, banking, life sciences, and utilities, as well as municipalities and governments. Formpipe Software AB (publ) was incorporated in 2004 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
FormPipe Software AB reported revenue of 242M SEK in FY2025 versus 473M SEK in FY2021, a compound −15.4%/yr. Reported net income was 495M SEK in FY2025, compounding +77.0%/yr from FY2021.
of which total revenue +2.2 % · buybacks/dilution −0.8 %
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).
FPIP screens 21% overvalued. Compare with 526544 →
Peer Group
Information Technology · 3640 stocks
How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Application Software” was too small, so the broader sector is used.)
Valuation Multiples vs Information Technology 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.
Insider activity: 42/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Application Software stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| 526544 526544 | ₹2.62 | ₹0.8600 | −67% |
| Spenda Limited CROTD | $0.0070 | $0.0072 | +3% |
| B2BSOFT B2BSOFT | ₹23.75 | ₹29.56 | +24% |
| The fund FLXI | $49.00 | $132.63 | +171% |
| SCANPGEOM SCANPGEOM | ₹2.51 | ₹1.85 | −26% |
| FIRSTFIN FIRSTFIN | ₹6.51 | ₹1.72 | −74% |
| Xiaomi Corporation 81810 | HK$24.16 | HK$38.03 | +57% |
| 532755 532755 | ₹1,586 | ₹922.45 | −42% |
| Lenovo Group 80992 | HK$30.00 | HK$6.62 | −78% |
| CEINSYSTECH CEINSYSTECH | ₹796.45 | ₹586.06 | −26% |
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