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Swedish Orphan Biovitrum AB (publ) (SOBI) Fair Value & Analysis

Healthcare · SE · Market cap 164B SEK (≈ $17.1B) · ISIN SE0000872095

What is Swedish Orphan Biovitrum AB (publ) really worth?

SO Swedish Orphan Biovitrum AB (publ) SOBI · ST
Pricekr 454.80
Fair Valuekr 213.97
Upside−53.0%
Quality57/100

A solid business, but trading 113% above our fair value of kr 213.97.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +13.1 %/yr)
!Thin margins · 3.2% net margin
!Mixed vs. peers (6/14)
!Moderate moat 50/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 9 out of 100
Evidence: Medium Range kr 140.49 – kr 287.46

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from kr 62.98 to kr 213.97 (+239.7%) since Jul 13, 2026. Share price +3.2% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (kr 287.46). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 140.49 to kr 287.46) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

kr 480.00 kr 139.60 Fair Value kr 213.97 Jun 2021 Sep 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 139.60 – kr 480.00 · fair‑value band kr 140.49 – kr 287.46 · the kr 454.80 price screens above the kr 213.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Swedish Orphan Biovitrum AB (publ) (SOBI) currently trades at kr 454.80, while our model-based Fair Value estimate is kr 213.97, implying the stock looks roughly 112.5% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of kr 480.10 per share, and 7 of the 24 models we run sit above the kr 454.80 price. Bear case: the Earnings-Based group reads lowest at kr 26.33, and 17 of the 24 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Swedish Orphan Biovitrum AB (publ) generated revenue of 29.0B SEK at a net margin of 3.2%. Revenue grew 11.1% year over year. It earns a return on equity of 2.3%. Net debt stands at 10.7B SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 140.49 (bear case) to kr 287.46 (bull case); at kr 454.80, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 74% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at −53%, SOBI screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 1.79 per share, which is 0.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

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 366.08 kr 640.77 kr 1,398 75
EPV kr 187.49 kr 220.74 kr 249.83 74
Growth DCF kr 350.50 kr 713.80 kr 1,392 74
All 24 models by family
DCF Models
FCF DCF kr 366.08 kr 640.77 kr 1,398 75
Owner Earnings kr 455.23 kr 1,023 kr 2,191 70
5Y Revenue Exit kr 223.75 kr 402.39 kr 712.79 70
5Y EBITDA Exit kr 478.77 kr 963.10 kr 1,768 71
5Y P/E Exit kr 111.99 kr 163.73 kr 219.00 71
10Y Revenue Exit kr 258.53 kr 480.10 kr 762.43 65
10Y EBITDA Exit kr 443.60 kr 949.14 kr 1,863 64
10Y P/E Exit kr 187.29 kr 274.54 kr 395.27 64
Earnings-Based
Graham-Dodd kr 9.40 kr 62.98 kr 88.22 63
Lynch FV kr 18.43 kr 26.33 kr 34.23 61
PEG = 1.0 kr 18.43 kr 26.33 kr 34.23 57
EPV kr 187.49 kr 220.74 kr 249.83 74
Multiples
P/E Multiple kr 22.81 kr 30.41 kr 38.01 63
P/S Multiple kr 17.62 kr 23.50 kr 29.37 58
P/B Multiple kr 17.62 kr 23.50 kr 29.37 55
EV/EBIT kr 284.73 kr 383.63 kr 482.53 66
EV/EBITDA kr 538.89 kr 722.51 kr 906.13 67
EV/Revenue kr 159.50 kr 232.98 kr 306.46 53
Asset-Based
NCAV (Graham) kr 54.53 kr 73.07 kr 109.06 54
Growth DCF
Growth DCF kr 350.50 kr 713.80 kr 1,392 74
Rev-Margin DCF kr 223.75 kr 416.89 kr 699.53 70
Economic Profit
Residual Income kr 75.05 kr 70.00 kr 52.17 71
ROIC Compounder kr 232.83 kr 351.50 kr 475.05 71
Growth Earnings
Growth-Adj P/E kr 26.13 kr 37.33 kr 48.53 67

Widest divergence: DCF Models (kr 480.10) versus Earnings-Based (kr 26.33). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/E ratio 172.2
P/S ratio 2.92 P/E × margin
EPS (TTM) kr 2.63 price ÷ EPS = P/E 172.2
Net margin 1.7% FY2025
Return on equity 2.3% TTM
Return on assets (EBIT) 8.0% avg 5y
More key figures
Profitability
Operating margin 26.6% TTM
Growth
Revenue (TTM) 29.0B SEK TTM
Revenue growth (YoY) +11.1% 3y avg +14.5%
EPS growth (YoY) +49.6%
Balance sheet & cash flow
Free cash flow 8.5B SEK FY2025
Net debt 10.7B SEK FY2025 · ≈ 1.3 yrs of FCF

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

Quality Score breakdown

Overall quality 57/100

Of which business quality 60 · Market factors (momentum, volatility) 81

Profitability 23
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 93
Distance to the 52-week high (market factor)
Net Issuance 60
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

Swedish Orphan Biovitrum AB (publ), a biopharma company, provides medicines in the areas of haematology, immunology, and specialty care in Europe, North America, the Middle East, Asia, and Australia. The company operates through three segments: Haematology, Immunology, and Specialty Care.

Full company description

Swedish Orphan Biovitrum AB (publ), a biopharma company, provides medicines in the areas of haematology, immunology, and specialty care in Europe, North America, the Middle East, Asia, and Australia. The company operates through three segments: Haematology, Immunology, and Specialty Care. It offers Alprolix for haemophilia B; ALTUVOCT for the treatment and prophylaxis of bleeding in patients with haemophilia A; Aspaveli/Empaveli for treating adult patients with paroxysmal nocturnal haemoglobinuria; Doptelet for the treatment of immune thrombocytopenia and thrombocytopenia; Elocta/Eloctate for the treatment and prophylaxis of bleeding in patients with haemophilia A; Gamifant for treating hemophagocytic lymphohistiocytosis; Kineret for the treatment of cryopyrin-associated periodic syndrome, rheumatoid arthritis, familial Mediterranean fever, deficiency of interleukin-1 receptor antagonist, and systemic juvenile idiopathic arthritis; Orfadin for hereditary tyrosinemia type 1 and alkaptonuria; Synagis for the prevention of serious lower respiratory tract infection caused by respiratory syncytial virus in infants and young children; VONJO, a kinase inhibitor indicated for the treatment of post-polycythemia vera or post-essential thrombocythemia myelofibrosis; and Zynlonta for treating adult patients with relapsed or refractory diffuse large and high grade B-cell lymphoma. The company also provides other medicines, such as Akynzeo, Jyseleca, Tegsedi, and Waylivra, as well as develops drug substances for ReFacto AF/Xyntha for Pfizer. The company has collaboration agreements with Sanofi, Apellis Pharmaceuticals, Inc., ADC Therapeutics SA, and Cartesian Therapeutics, Inc. The company was incorporated in 1939 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Swedish Orphan Biovitrum AB (publ) reported revenue of 28.2B SEK in FY2025 versus 15.5B SEK in FY2021, a compound +16.1%/yr. Reported net income was 478M SEK in FY2025, compounding −35.0%/yr from FY2021.

Growth Quality 88/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
28.2B SEK
Latest YoY
+8.5%
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.
+14.5%
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.
+13.1%
Avg. revenue growth/yr (23Y) 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.
+14.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−33.3% (−33.3 + 0.0)
Revenue +16.1%/yr
FY21 15.5B SEK
FY22 18.8B SEK
FY23 22.1B SEK
FY24 26.0B SEK
FY25 28.2B SEK
Net income −35.0%/yr
FY21 2.7B SEK
FY22 2.6B SEK
FY23 2.4B SEK
FY24 3.9B SEK
FY25 478M SEK
Character of growth · EPS growth decomposed (2015-2025) +17.9 % p.a.
Revenue per share +20.2 %

of which total revenue +23.6 % · buybacks/dilution −2.7 %

EBIT margin +5.1 %
Tax rate +2.0 %
Residual (interest, one-offs) −8.5 %

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).

SOBI screens 113% overvalued. Compare with Merck KGaA →

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Cite: Fair Value Calculator (2026). "Swedish Orphan Biovitrum AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/SOBI

Earlier news

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

Peer Group

Drug Manufacturers - Specialty & Generic · 608 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 57 · Above median
Fair Value upside −53% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 7% · Top 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 27% · Top 25%
Revenue growth 11% · Above median
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 172.2× · Pricier than 75% of peers
P/B 4.34× · Pricier than 75% of peers
P/S (TTM) 5.65× · Pricier than 75% of peers
P/FCF 2.0× · Cheaper than median
EV/EBITDA 14.4× · Pricier than median
PEG 0.34× · Cheaper than 75% of peers

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
VALUE0 · sector 2
FUTURE56 · sector 22
PAST9 · sector 26
HEALTH93 · sector 97
DIVIDEND0 · sector 29

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

Insider activity: 30/100

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €140.25 €106.48 −24%
Takeda Pharmaceutical Company TAK $18.03 $11.11 −38%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.76 ¥25.94 −52%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 −49%
Galderma Group GALD CHF 178.55 CHF 55.07 −69%
Haleon plc HLN $10.11 $7.64 −24%
Teva Pharmaceutical Industries Limited TEVA $36.05 $15.33 −57%
Sandoz Group SDZ CHF 70.66 CHF 39.21 −45%
Zoetis Inc ZTS $77.10 $104.88 +36%
Hansoh Pharmaceutical Group 3692 HK$35.12 HK$16.18 −54%

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Frequently asked questions

Is Swedish Orphan Biovitrum AB (publ) (SOBI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 213.97 versus a price of kr 454.80, about −53% upside (overvalued).
What is the fair value of SOBI?
Our model-based fair value for Swedish Orphan Biovitrum AB (publ) is kr 213.97 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 454.80.
What is the quality score of SOBI?
Swedish Orphan Biovitrum AB (publ) has a Quality Score of 57/100. 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 Swedish Orphan Biovitrum AB (publ) (SOBI)?
Swedish Orphan Biovitrum AB (publ) reported trailing-twelve-month revenue of about 29.0B SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SOBI?
The net profit margin of Swedish Orphan Biovitrum AB (publ) is about 3.2%, meaning it keeps roughly 3.2% of revenue as net income. Based on the latest reported figures.
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