Smart Eye AB (publ)

OM:SEYE Stock Report

Market Cap: SEK 2.1b

Smart Eye Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow 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 SEYE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: SEYE (SEK53.05) is trading below our estimate of future cash flow value (SEK166.43)

Significantly Below Future Cash Flow Value: SEYE is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for SEYE. This is calculated by dividing SEYE's market cap by their current revenue.
What is SEYE's PS Ratio?
PS Ratio4.3x
SalesSEK 488.83m
Market CapSEK 2.08b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for SEYE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.8x
FIRE Firefly
1.9xn/aSEK 1.0b
EPEN Ependion
2x-10.65%SEK 4.8b
UNIBAP Unibap Space Solutions
6.4xn/aSEK 683.9m
SGG Sensys Gatso Group
0.7x11.34%SEK 484.3m
SEYE Smart Eye
4.3x32.08%SEK 2.1b

Price-To-Sales vs Peers: SEYE is expensive based on its Price-To-Sales Ratio (4.3x) compared to the peer average (2.8x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does SEYE's PS Ratio compare vs other companies in the SE Electronic Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
DUST Dustin Group
0.1x3.20%US$231.74m
PRIC B Pricer
0.3x2.08%US$68.78m
DIST DistIT
0.1xn/aUS$11.40m
LEVEL Nordic LEVEL Group AB (publ.)
0.2x15.96%US$6.76m
SEYE 4.3xIndustry Avg. 2.0xNo. of Companies9PS01.63.24.86.48+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: SEYE is expensive based on its Price-To-Sales Ratio (4.3x) compared to the Swedish Electronic industry average (2x).

Price to Sales Ratio vs Fair Ratio

What is SEYE'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.

SEYE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.3x
Fair PS Ratio8.8x

Price-To-Sales vs Fair Ratio: SEYE is good value based on its Price-To-Sales Ratio (4.3x) compared to the estimated Fair Price-To-Sales Ratio (8.8x).

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 SEYE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 53.05
SEK 98.00
+84.73%
10.20%SEK 108.00SEK 88.00n/a2
Sep ’27SEK 56.55
SEK 98.00
+73.30%
10.20%SEK 108.00SEK 88.00n/a2
Aug ’27SEK 83.00
SEK 114.00
+37.35%
5.26%SEK 120.00SEK 108.00n/a2
Jul ’27SEK 92.80
SEK 114.00
+22.84%
5.26%SEK 120.00SEK 108.00n/a2
Jun ’27SEK 93.70
SEK 114.00
+21.66%
5.26%SEK 120.00SEK 108.00n/a2
May ’27SEK 64.35
SEK 110.00
+70.94%
9.09%SEK 120.00SEK 100.00n/a2
Apr ’27SEK 54.65
SEK 110.00
+101.28%
9.09%SEK 120.00SEK 100.00n/a2
Mar ’27SEK 60.10
SEK 110.00
+83.03%
9.09%SEK 120.00SEK 100.00n/a2
Feb ’27SEK 81.75
SEK 111.50
+36.39%
3.14%SEK 115.00SEK 108.00n/a2
Jan ’27SEK 78.75
SEK 111.50
+41.59%
3.14%SEK 115.00SEK 108.00n/a2
Dec ’26SEK 71.70
SEK 111.50
+55.51%
3.14%SEK 115.00SEK 108.00n/a2
Nov ’26SEK 85.85
SEK 110.00
+28.13%
4.55%SEK 115.00SEK 105.00n/a2
Oct ’26SEK 83.20
SEK 110.00
+32.21%
4.55%SEK 115.00SEK 105.00n/a2
Sep ’26SEK 82.90
SEK 110.00
+32.69%
4.55%SEK 115.00SEK 105.00SEK 56.552
Aug ’26SEK 66.10
SEK 111.00
+67.93%
3.60%SEK 115.00SEK 107.00SEK 83.002
Jul ’26SEK 64.50
SEK 111.00
+72.09%
3.60%SEK 115.00SEK 107.00SEK 92.802
Jun ’26SEK 69.00
SEK 111.00
+60.87%
3.60%SEK 115.00SEK 107.00SEK 93.702
May ’26SEK 57.50
SEK 124.00
+115.65%
3.23%SEK 128.00SEK 120.00SEK 64.352
Apr ’26SEK 46.65
SEK 124.00
+165.81%
3.23%SEK 128.00SEK 120.00SEK 54.652
Nov ’25SEK 64.20
SEK 132.50
+106.39%
5.66%SEK 140.00SEK 125.00SEK 85.852
Oct ’25SEK 66.20
SEK 132.50
+100.15%
5.66%SEK 140.00SEK 125.00SEK 83.202
Sep ’25SEK 86.20
SEK 135.00
+56.61%
3.70%SEK 140.00SEK 130.00SEK 82.902
SEK 98
Fair Value
45.9% undervalued intrinsic discount
2
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/16 23:50
End of Day Share Price 2026/09/16 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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.

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 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 Github.

Analyst Sources

Smart Eye AB (publ) is covered by 2 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.

AnalystInstitution
Mikael LaséenDNB Carnegie
Jacob BenonRedeye