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

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

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

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

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 Ratio5.8x
SalesSEK 355.05m
Market CapSEK 2.06b

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 Average2.9x
PRIC B Pricer
0.5x10.7%SEK 1.4b
FIRE Firefly
2.1xn/aSEK 1.1b
EPEN Ependion
1.7x10.7%SEK 3.8b
INT Intellego Technologies
7.2xn/aSEK 1.9b
SEYE Smart Eye
5.8x39.8%SEK 2.1b

Price-To-Sales vs Peers: SEYE is expensive based on its Price-To-Sales Ratio (5.8x) compared to the peer average (2.9x).

Price to Sales Ratio vs Industry

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

12 CompaniesPrice / SalesEstimated GrowthMarket Cap
DUST Dustin Group
0.08x4.3%US$165.23m
ALCA Alcadon Group
0.3xn/aUS$53.10m
FING B Fingerprint Cards
0.5xn/aUS$19.72m
LEVEL Nordic LEVEL Group AB (publ.)
0.3x12.8%US$12.24m
SEYE 5.8xIndustry Avg. 2.1xNo. of Companies12PS0246810+
12 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: SEYE is expensive based on its Price-To-Sales Ratio (5.8x) compared to the Swedish Electronic industry average (2.1x).

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 Ratio5.8x
Fair PS Ratio10.4x

Price-To-Sales vs Fair Ratio: SEYE is good value based on its Price-To-Sales Ratio (5.8x) compared to the estimated Fair Price-To-Sales Ratio (10.4x).

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 55.55
SEK 124.00
+123.2%
3.2%SEK 128.00SEK 120.00n/a2
Apr ’26SEK 46.65
SEK 124.00
+165.8%
3.2%SEK 128.00SEK 120.00n/a2
Nov ’25SEK 64.20
SEK 132.50
+106.4%
5.7%SEK 140.00SEK 125.00n/a2
Oct ’25SEK 66.20
SEK 132.50
+100.2%
5.7%SEK 140.00SEK 125.00n/a2
Sep ’25SEK 86.20
SEK 135.00
+56.6%
3.7%SEK 140.00SEK 130.00n/a2
Aug ’25SEK 99.50
SEK 142.50
+43.2%
8.8%SEK 155.00SEK 130.00n/a2
Jul ’25SEK 101.80
SEK 142.50
+40.0%
8.8%SEK 155.00SEK 130.00n/a2
Jun ’25SEK 106.00
SEK 142.50
+34.4%
8.8%SEK 155.00SEK 130.00n/a2
May ’25SEK 81.20
SEK 139.00
+71.2%
6.5%SEK 148.00SEK 130.00n/a2
Apr ’25SEK 83.90
SEK 141.50
+68.7%
4.6%SEK 148.00SEK 135.00SEK 46.652
Mar ’25SEK 91.20
SEK 140.00
+53.5%
3.6%SEK 145.00SEK 135.00SEK 58.502
Feb ’25SEK 76.40
SEK 140.00
+83.2%
3.6%SEK 145.00SEK 135.00SEK 46.402
Jan ’25SEK 88.80
SEK 140.00
+57.7%
3.6%SEK 145.00SEK 135.00SEK 61.302
Dec ’24SEK 64.80
SEK 140.00
+116.0%
3.6%SEK 145.00SEK 135.00SEK 62.502
Nov ’24SEK 45.72
SEK 142.50
+211.7%
5.3%SEK 150.00SEK 135.00SEK 64.202
Oct ’24SEK 48.52
SEK 142.50
+193.7%
5.3%SEK 150.00SEK 135.00SEK 66.202
Sep ’24SEK 48.42
SEK 142.50
+194.3%
5.3%SEK 150.00SEK 135.00SEK 86.202
Aug ’24SEK 48.72
SEK 140.00
+187.4%
3.6%SEK 145.00SEK 135.00SEK 99.502
Jul ’24SEK 42.18
SEK 140.00
+231.9%
3.6%SEK 145.00SEK 135.00SEK 101.802
Jun ’24SEK 43.48
SEK 140.00
+222.0%
3.6%SEK 145.00SEK 135.00SEK 106.002
AnalystConsensusTarget
Consensus Narrative from 2 Analysts
SEK 124.00
Fair Value
55.2% 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 Analysis2025/04/23 09:12
End of Day Share Price 2025/04/23 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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 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 Github.

Analyst Sources

Smart Eye AB (publ) is covered by 3 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
Ole-Andreas KrohnDNB Markets
Martin WahlstromRedeye
Jacob BenonRedeye