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ACAST.ST

Acast AB (publ) (ACAST.ST) fair value

Communication Services · Entertainment · Nasdaq Stockholm · Sweden
kr 32.40-0.77%
Market cap kr 6.0BNext earnings 2025-07-25Updated Oct 22, 2026
Our verdict
Trades 141% above our fair value
Price
kr 32.40
Model fair valueConfidence: medium
kr 13.44
Only one of our models could value this stock with confidence, so use it as a guide.
Not used by alerts or posts.
Valued as a growth company: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
ACCE opinionAcast AB (publ) (ACAST.ST)
Fair value
Not available
ACCE price target
kr 33.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 23 Oct 2026, 01:52 CEST.
Price used: kr 32.40 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, EV/EBITDA comparison, and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
49
out of 100
P/E
60.0x
forward -180.0x
1-year return
+50.7%
Dividend yield
0.00%

Acast AB (publ) in four questions

Plain answers, details below
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OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Acast (ACAST.ST) runs a podcast hosting and monetisation platform, selling dynamically inserted advertising across a large network of shows and offering subscription and creator tools on top. Its structural case rests on being one of the few scaled, independent intermediaries between podcast creators and advertisers, with the ad-tech and hosting infrastructure to match. Revenue growth of 27.8% is the headline, and the growth driver is the continued shift of audio advertising budgets toward podcasts, which the company can monetise through its own sales stack. The reason to look now is the gap between that growth and profitability: a 39.0% gross margin but only a 4.1% operating margin and an 8.8% ROE mean the investment case depends on operating leverage actually arriving, while a trailing P/E of 60.5 leaves little room for the margin expansion to disappoint. Worth a deeper look to test whether margins are inflecting or whether growth is being bought at the expense of profit.

AI-assisted·How I use AIWritten Oct 23, 2026
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
  • high
    Negative free cash flow
    Free cash flow is $-4,062,000 despite revenue growing 27.8%, so growth is not yet converting into cash generation.
  • high
    Earnings collapse against revenue growth
    Earnings fell 60.4% year on year while revenue rose 27.8%, and the P/E of 60.0 leaves little room for further disappointment.
  • moderate
    Rich valuation on thin margins
    EV/EBITDA of 41.8 sits on a net margin of just 3.7% and an operating margin of 4.1%, so the price depends heavily on margin expansion.

AI research notes

AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
  • Revenue grew 27.8% over the past year, and the company has averaged 32.5% annual growth over five years.
  • Analysts' mean price target of SEK 45.33 sits 38.6% above the current share price.
  • The diluted share count fell 3.3% last fiscal year, so each share now represents a slightly larger slice of the business.
Why it could disappoint
  • Free cash flow over the last twelve months was negative at -SEK 4M, so the business is not yet generating cash.
  • At a trailing P/E of 60.0x, the shares look expensive against a sector median forward P/E of 16.5x.
  • Return on invested capital is -7.0%, meaning the money put into the business is not yet earning a return.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Walk me through this stock

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Valuation

INVESTOR
Where ACAST.ST's valuation models land
Price
kr 32.40
Model fair valueConfidence: medium
kr 13.44
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
P/E comparison
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Quality

INVESTOR
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  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

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Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

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Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
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Where it sits vs peers

News and Record

Recent performance

1 week
-0.8%
1 month
-1.7%
3 months
-11.2%
6 months
+5.0%
YTD
-5.7%
1 year
+50.7%

Recommendation history, last 12 months

DateTypeNewPreviousPrice
23 Oct 2026, 01:52 CESTACCE price targetkr 33.00first publicationkr 32.65

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

This security trades in SEK. Exchange-rate movements can increase or reduce the result in your own currency.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth52Value20Quality56Momentum68Total49
Valuation
Trailing P/E
60.0x
Forward P/E
-180.0x
PEG
no data
P/B
4.82x
EV / Revenue
2.0x
Book value/sh
kr 6.83
Enterprise value
kr 5.5B
Profitability
ROE
8.8%
FCF yield
-0.07%
ROIC
-7.0%
Health and risk
Debt / equity
0.11
Dividend yield
0.00%
Beta
0.45

Price

+51.4% · 1Y

Ask anything about ACAST.ST

Answered from Acast AB (publ) fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 25% of peers
low 0.0x60.0xhigh 73.1x
ROEbetter than 83% of peers
low -53%9%high 11%
Div yieldbetter than 83% of peers
low 0.0%0.0%high 4.8%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
ACAST.ST Acast AB (publ)kr 32.40--60.0x8.8%5649
1970.HK IMAX China Holding, Inc.HK$8.40HK$1334% below17.7x6.9%7757
VPLAY-A.ST Viaplay Group AB (publ)kr 2.14----52.9%2240
GCLA.BA Grupo Clarin S.A.ARS 2565.00--9.0x5.9%6449
AMC AMC Entertainment Holdings Inc. Class A Common Stock$2.93---0.0%2942
IMAX Imax Corporation Common Stock$52.31$23125% above73.1x11.0%6268
BATRK Atlanta Braves Holdings Inc. Series C Common Stock$49.71----12.0%2138

Sector report card

Where ACAST.ST ranks against its sector peers on each metric.

Computing percentiles…