OptiCept Technologies Valuation

Q: What is the Fair Price of OPTI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

OPTI (SEK5.07) is trading below our estimate of [[fair value]] (SEK6.09)

Is OPTI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of OPTI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: OPTI (SEK5.07) is trading below our estimate of fair value (SEK6.09)

Significantly Below Fair Value: OPTI is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for OPTI?

Key metric: As OPTI is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for OPTI. This is calculated by dividing OPTI's market cap by their current revenue.
What is OPTI's PS Ratio?
PS Ratio	19.8x
Sales	SEK 13.16m
Market Cap	SEK 261.09m

OPTI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	21.1x
Enterprise Value/EBITDA	-4.1x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does OPTI's PS Ratio compare to its peers?

The above table shows the PS ratio for OPTI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	2.4x
ENVI B Envirologic	2.4x	n/a	SEK 151.5m
AGES B AGES Industri	0.3x	n/a	SEK 465.8m
IMPC Impact Coatings	3x	28.1%	SEK 380.6m
ENRAD Enrad	3.9x	35.0%	SEK 186.8m
OPTI OptiCept Technologies	19.8x	55.0%	SEK 261.1m

Price-To-Sales vs Peers: OPTI is expensive based on its Price-To-Sales Ratio (19.8x) compared to the peer average (2.4x).

Price to Sales Ratio vs Industry

How does OPTI's PS Ratio compare vs other companies in the SE Machinery Industry?

6 Companies	Price / Sales	Estimated Growth	Market Cap
AGES B AGES Industri	0.3x	n/a	US$42.37m
LYGRD Lyckegård Group	0.4x	n/a	US$5.97m
EASY B EasyFill AB (publ.)	0.4x	n/a	US$3.09m
NFGAB Nordic Flanges Group	0.1x	n/a	US$2.82m

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: OPTI is expensive based on its Price-To-Sales Ratio (19.8x) compared to the Swedish Machinery industry average (1.5x).

Price to Sales Ratio vs Fair Ratio

What is OPTI's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OPTI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	19.8x
Fair PS Ratio	13.7x

Price-To-Sales vs Fair Ratio: OPTI is expensive based on its Price-To-Sales Ratio (19.8x) compared to the estimated Fair Price-To-Sales Ratio (13.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst OPTI forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	SEK 5.07	SEK 7.15 +41.0%	25.9%	SEK 9.00	SEK 5.30	n/a	2
Nov ’25	SEK 5.28	SEK 7.15 +35.4%	25.9%	SEK 9.00	SEK 5.30	n/a	2
Oct ’25	SEK 6.00	SEK 7.15 +19.2%	25.9%	SEK 9.00	SEK 5.30	n/a	2
Sep ’25	SEK 5.97	SEK 7.15 +19.8%	25.9%	SEK 9.00	SEK 5.30	n/a	2
Aug ’25	SEK 6.78	SEK 6.65 -1.9%	20.3%	SEK 8.00	SEK 5.30	n/a	2
Jul ’25	SEK 5.49	SEK 6.65 +21.1%	20.3%	SEK 8.00	SEK 5.30	n/a	2
Jun ’25	SEK 4.28	SEK 4.60 +7.5%	52.2%	SEK 7.00	SEK 2.20	n/a	2
May ’25	SEK 2.50	SEK 4.60 +84.0%	52.2%	SEK 7.00	SEK 2.20	n/a	2
Apr ’25	SEK 3.30	SEK 4.60 +39.4%	52.2%	SEK 7.00	SEK 2.20	n/a	2
Mar ’25	SEK 3.00	SEK 4.60 +53.3%	52.2%	SEK 7.00	SEK 2.20	n/a	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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