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Sectra AB (SECT-B) Fair Value & Analysis

Healthcare · SE · Market cap 53.0B SEK

SA Sectra AB SECT-B · ST
Pricekr 278.40
Fair Valuekr 66.81
Upside-76.0%
Quality72/100
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Healthy Growth
Solidly profitable · 15.5% net margin
Low debt · generates free cash flow
0.47% dividend yield
Mixed vs. peers (8/14)
Wide moat 73/100
Evidence: High Range kr 51.81 – kr 81.10 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Share price −2.3% over the past month.

A solid business, but screening 76% overvalued on our models.

What matters now

  • A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (kr 81.10). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

kr 370.75 kr 104.06 Fair Value kr 66.81 May 2021 Aug 2026

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

How to read this chart

60‑month range kr 104.06 – kr 370.75 · fair‑value band kr 51.81 – kr 81.10 · the kr 278.40 price screens above the kr 66.81 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Sectra AB (SECT-B) currently trades at kr 278.40, while our model-based Fair Value estimate is kr 66.81, implying the stock looks roughly 76.0% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Healthcare 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, Sectra AB generated revenue of 3.6B SEK at a net margin of 15.5%. Revenue grew 13.0% year over year. It earns a return on equity of 27.8%. The balance sheet holds a net cash position of 1.7B SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 51.81 (bear case) to kr 81.10 (bull case); at kr 278.40, 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 26% below its 52-week high and 61% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -33% fair-value upside, at -76%, SECT-B 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (kr 7.98 to kr 134.70). Read the values as a conservative anchor, not as a price target.
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 80.78 kr 131.03 kr 214.61 80
Residual Income kr 21.21 kr 28.84 kr 174.24 76
Rev-Margin DCF kr 55.40 kr 82.21 kr 116.28 74
All 24 models by family
DCF Models
FCF DCF kr 80.96 kr 134.70 kr 225.91 38
Owner Earnings kr 48.50 kr 77.64 kr 127.08 31
5Y Revenue Exit kr 55.40 kr 82.16 kr 117.09 39
5Y EBITDA Exit kr 59.64 kr 90.75 kr 128.46 41
5Y P/E Exit kr 65.16 kr 101.92 kr 142.85 38
10Y Revenue Exit kr 62.40 kr 90.39 kr 130.60 36
10Y EBITDA Exit kr 66.31 kr 96.62 kr 139.95 37
10Y P/E Exit kr 69.95 kr 104.72 kr 151.78 35
Earnings-Based
Graham-Dodd kr 21.35 kr 92.71 kr 126.78 54
Lynch FV kr 23.85 kr 34.07 kr 44.29 50
PEG = 1.0 kr 23.85 kr 34.07 kr 44.29 46
EPV kr 36.47 kr 40.87 kr 44.72 59
Multiples
P/E Multiple kr 51.81 kr 69.07 kr 86.34 63
P/S Multiple kr 40.03 kr 53.37 kr 66.72 58
P/B Multiple kr 40.03 kr 53.37 kr 66.72 55
EV/EBIT kr 57.14 kr 72.83 kr 88.52 53
EV/EBITDA kr 52.95 kr 67.23 kr 81.52 54
EV/Revenue kr 43.67 kr 58.07 kr 72.46 43
Asset-Based
NCAV (Graham) kr 5.95 kr 7.98 kr 11.91 50
Growth DCF
Growth DCF kr 80.78 kr 131.03 kr 214.61 80
Rev-Margin DCF kr 55.40 kr 82.21 kr 116.28 74
Economic Profit
Residual Income kr 21.21 kr 28.84 kr 174.24 76
ROIC Compounder kr 37.34 kr 42.90 kr 48.48 72
Growth Earnings
Growth-Adj P/E kr 40.71 kr 58.15 kr 75.60 68

Widest divergence: DCF Models (kr 90.75) versus Asset-Based (kr 7.98). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.6B SEK
Revenue growth (YoY) +13.1%
Net margin 15.5%
Return on equity 27.8%
Free cash flow 1.0B SEK FY2026
P/E ratio 93.9 as of Jul 17, 2026
More key figures
Operating margin 18.6%
EPS (TTM) kr 2.93
Dividend yield 0.5%
EPS growth (YoY) +20.0%
Net cash 1.7B SEK FY2026

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

Quality Score breakdown

Overall quality 72/100

Of which business quality 73 · Market factors (momentum, volatility) 51

Profitability 64
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 98
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 39
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 82
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

Sectra AB (publ) provides solutions for medical IT and cybersecurity sectors in Sweden, the United Kingdom, the Netherlands, and rest of Europe. The company operates through Imaging IT Solutions, Secure Communications, and Business Innovation segments.

Full company description

Sectra AB (publ) provides solutions for medical IT and cybersecurity sectors in Sweden, the United Kingdom, the Netherlands, and rest of Europe. The company operates through Imaging IT Solutions, Secure Communications, and Business Innovation segments. The Imaging IT Solutions segment develops and sells medical IT systems and services for managing, archiving, and presenting various types of medical images and patient information, as well as for operational follow-up and radiation dose monitoring; and maintenance and consulting services. The Secure Communications segment develops and sells products and services for secure voice and data communications, and project-based development, as well as security and threat analyses, and system monitoring services for control systems. The Business Innovation segment develops and sells IT systems for planning and monitoring orthopedic surgery; products for medical education and research projects; and IT support services for precision diagnostics in cancer care. It serves hospitals and private clinic chains. Sectra AB (publ) was incorporated in 1957 and is headquartered in Linköping, Sweden.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Sectra AB reported revenue of kr 3.5B in FY2026 versus kr 1.9B in FY2022, a compound +16.1%/yr. Reported net income was kr 564M in FY2026, compounding +15.7%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
3.5B SEK
Latest YoY
+9.3%
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.
+14.6%
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.
+16.8%
Avg. growth/yr (24Y) 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.
+9.4%
Revenue +16.1%/yr
FY22 kr 1.9B
FY23 kr 2.4B
FY24 kr 3.0B
FY25 kr 3.2B
FY26 kr 3.5B
Net income +15.7%/yr
FY22 kr 315M
FY23 kr 375M
FY24 kr 428M
FY25 kr 563M
FY26 kr 564M
Character of growth · EPS growth decomposed (2015-2026) +16.1 % p.a.
Revenue per share +13.2 pp

of which total revenue +13.3 pp · buybacks/dilution −0.1 pp

EBIT margin +0.6 pp
Tax rate −0.1 pp
Residual (interest, one-offs) +2.3 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).

SECT-B screens 76% overvalued. Compare with Abbott Laboratories, →

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

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Medical Devices · 349 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 72 · Top 25%
Fair Value upside −76% · Bottom 25%
Return on equity (TTM) 28% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth 13% · Above median
Dividend yield (TTM) 0.5% · Bottom 25%

Valuation Multiples vs Medical Devices median · lower = cheaper

P/E (TTM) 93.9× · Pricier than 75% of peers
P/B 24.78× · Pricier than 75% of peers
P/S (TTM) 14.53× · Pricier than 75% of peers
P/FCF 5.5× · Cheaper than median
EV/EBITDA 69.6× · Pricier 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 0 · sector 0
FUTURE 66 · sector 31
PAST 100 · sector 8
HEALTH 100 · sector 97
DIVIDEND 9 · sector 39

VALUE 0: the price sits above our fair-value range.

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 Medical Devices stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $110.91 $74.79 -33%
Stryker Corporation SYK $347.21 $186.28 -46%
Medtronic plc MDT $90.76 $65.57 -28%
Boston Scientific Corporation BSX $51.42 $38.44 -25%
Edwards Lifesciences Corporation EW $93.05 $41.02 -56%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥153.60 ¥147.63 -4%
Shanghai United Imaging Healthcare Co 688271 ¥110.50 ¥43.60 -61%
Demant A/S DEMANT kr 289.60 kr 161.17 -44%
Getinge AB GETIB kr 239.30 kr 192.14 -20%
CLASSYS Inc 214150 39,700 KRW 20,415 KRW -49%

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Frequently asked questions

Is Sectra AB (SECT-B) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 66.81 versus a price of kr 278.40, about −76% (overvalued).
What is the fair value of SECT-B?
Our model-based fair value for Sectra AB is kr 66.81 (as of Aug 13, 2026), built from audited fundamentals. The current price is kr 278.40.
What is the quality score of SECT-B?
Sectra AB has a Quality Score of 72/100. 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 Sectra AB (SECT-B)?
Sectra AB reported trailing-twelve-month revenue of about 3.6B SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SECT-B?
The net profit margin of Sectra AB is about 15.5%, meaning it keeps roughly 15.5% of revenue as net income. Based on the latest reported figures.
Does Sectra AB pay a dividend?
Sectra AB currently shows a dividend yield of about 0.44% relative to its recent price (as of Aug 13, 2026).

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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