IRLAB Therapeutics Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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 IRLAB A when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate IRLAB A's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate IRLAB A's fair value for valuation analysis.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for IRLAB A. This is calculated by dividing IRLAB A's market cap by their current revenue.
What is IRLAB A's PS Ratio?
PS Ratio	11x
Sales	SEK 50.62m
Market Cap	SEK 557.59m

IRLAB A 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	10.4x
Enterprise Value/EBITDA	-5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does IRLAB A's PS Ratio compare to its peers?

The above table shows the PS ratio for IRLAB A 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	19.5x
MOB Moberg Pharma	54.1x	105.0%	SEK 474.9m
ORX Orexo	1.1x	7.6%	SEK 629.4m
ENZY Enzymatica	8x	43.9%	SEK 353.9m
ERMA Enorama Pharma	15x	n/a	SEK 199.6m
IRLAB A IRLAB Therapeutics	11x	31.3%	SEK 555.0m

Price-To-Sales vs Peers: IRLAB A is good value based on its Price-To-Sales Ratio (11x) compared to the peer average (19.5x).

Price to Sales Ratio vs Industry

How does IRLAB A's PS Ratio compare vs other companies in the SE Pharmaceuticals Industry?

12 Companies	Price / Sales	Estimated Growth	Market Cap
KARO Karo Pharma	4.8x	n/a	US$1.59b
SECARE Swedencare	3.1x	12.0%	US$687.00m
ORX Orexo	1.1x	7.6%	US$56.47m
INDEX InDex Pharmaceuticals Holding	2.7x	n/a	US$27.34m

12 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: IRLAB A is good value based on its Price-To-Sales Ratio (11x) compared to the Swedish Pharmaceuticals industry average (12.9x).

Price to Sales Ratio vs Fair Ratio

What is IRLAB A'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.

IRLAB A PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	11x
Fair PS Ratio	1.1x

Price-To-Sales vs Fair Ratio: IRLAB A is expensive based on its Price-To-Sales Ratio (11x) compared to the estimated Fair Price-To-Sales Ratio (1.1x).

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 IRLAB A 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 10.70	SEK 56.07 +424.0%	38.0%	SEK 86.20	SEK 40.00	n/a	3
Dec ’25	SEK 12.85	SEK 56.07 +336.3%	38.0%	SEK 86.20	SEK 40.00	n/a	3
Nov ’25	SEK 14.10	SEK 56.07 +297.6%	38.0%	SEK 86.20	SEK 40.00	n/a	3
Oct ’25	SEK 12.95	SEK 56.07 +332.9%	38.0%	SEK 86.20	SEK 40.00	n/a	3
Sep ’25	SEK 14.40	SEK 56.07 +289.4%	38.0%	SEK 86.20	SEK 40.00	n/a	3
Aug ’25	SEK 17.25	SEK 56.07 +225.0%	38.0%	SEK 86.20	SEK 40.00	n/a	3
Jul ’25	SEK 13.00	SEK 56.63 +335.6%	39.1%	SEK 87.90	SEK 40.00	n/a	3
Jun ’25	SEK 15.60	SEK 60.95 +290.7%	34.4%	SEK 81.90	SEK 40.00	n/a	2
May ’25	SEK 11.40	SEK 56.45 +395.2%	38.0%	SEK 77.90	SEK 35.00	n/a	2
Apr ’25	SEK 15.60	SEK 61.00 +291.0%	42.6%	SEK 87.00	SEK 35.00	n/a	2
Mar ’25	SEK 14.65	SEK 59.00 +302.7%	47.5%	SEK 87.00	SEK 31.00	n/a	2
Feb ’25	SEK 16.05	SEK 59.00 +267.6%	47.5%	SEK 87.00	SEK 31.00	n/a	2
Jan ’25	SEK 7.50	SEK 59.00 +686.7%	47.5%	SEK 87.00	SEK 31.00	SEK 10.75	2
Dec ’24	SEK 6.76	SEK 59.00 +772.8%	47.5%	SEK 87.00	SEK 31.00	SEK 12.85	2
Nov ’24	SEK 6.52	SEK 59.00 +804.9%	47.5%	SEK 87.00	SEK 31.00	SEK 14.10	2
Oct ’24	SEK 7.38	SEK 59.05 +700.1%	45.8%	SEK 86.10	SEK 32.00	SEK 12.95	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/02 20:57
End of Day Share Price	2025/01/02 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

IRLAB Therapeutics AB (publ) is covered by 4 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Gonzalo Artiach Castanon	ABG Sundal Collier Sponsored
null null	ABG Sundal Collier Sponsored
Soo Romanoff	Edison Investment Research