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CHEF.ST

Cheffelo AB (publ) (CHEF.ST) fair value

Consumer Defensive · Food Distribution · Nasdaq Stockholm · Sweden
kr 96.10+0.95%
Market cap kr 1.3BUpdated Oct 22, 2026
Our verdict
Trades 23% above our fair value
Price
kr 96.10
Model fair valueConfidence: good
kr 78.41
Model range
kr 51.90 to kr 129
Fair value kr 78.41
Price kr 96.10
5 models fit Cheffelo AB (publ) and they disagree: 0 of 5 land within 15% of the average.
Two or more of our models back this value.
Premium(i)
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionCheffelo AB (publ) (CHEF.ST)
Fair value (5 models)
kr 78.41
ACCE price target
kr 105
Rating
Overvalued
Horizon
12 months
Fair value published on 22 Oct 2026, 14:04 CEST.
ACCE price target published on 23 Oct 2026, 01:52 CEST.
Rating published on 22 Oct 2026, 14:04 CEST.
Price used: kr 96.10 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
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
Price vs fair value
22.6% above
-18.4% to fair value
ACCE score
71
out of 100
P/E
14.7x
forward 35.7x
1-year return
+19.5%
Dividend yield
7.41%

Cheffelo AB (publ) in four questions

Plain answers, details below
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OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Cheffelo is a Swedish meal kit and prepared-food business, selling subscription boxes and ready-made meals direct to households through its own online channels. Revenue is growing at 26.8%, and a 24.1% gross margin with a 13.3% operating margin suggests the subscription model is starting to earn its keep at scale. The trailing P/E of 14.6 against a forward P/E of 35.4 is the number to check first: the market is either pricing a sharp earnings decline or the forward estimates are not yet reflecting what the trailing figures imply. With a market cap of 1.2 billion SEK and no index membership, this is a small, under-followed name where a deeper look at the earnings bridge and customer retention data is worth the time.

AI-assisted·How I use AIWritten Oct 23, 2026

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Valuation

INVESTOR
Where CHEF.ST's valuation models land
Price
kr 96.10
Model fair value
kr 78.41
Model range
kr 51.90 to kr 129
Fair value kr 78.41
Price kr 96.10
The price sits inside the model range.
Model
Fair value
Upside
Discounted cash flow
Dividend discount
EV/EBITDA comparison
Graham number
P/E comparison
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Quality

INVESTOR
Quality and conviction INVESTOR FEATURE

The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.

  • +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

No analyst coverage yet.
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

Trades are only made public after a delay. We show the delay so you know how old the news is.

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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Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

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  • +Every insider and Congress trade, with how late it was disclosed
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Compare

Where it sits vs peers

News and Record

Recent performance

1 week
-3.9%
1 month
-15.6%
3 months
-23.2%
6 months
-11.3%
YTD
+20.6%
1 year
+19.5%

Recommendation history, last 12 months

DateTypeNewPreviousPrice
23 Oct 2026, 01:52 CESTACCE price targetkr 105first publicationkr 95.20
22 Oct 2026, 14:04 CESTFair valuekr 78.41first publicationkr 96.70
22 Oct 2026, 14:04 CESTRatingOvervaluedfirst publicationkr 96.70

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

Growth88Value87Quality69Momentum39Total71
Valuation
Trailing P/E
14.7x
Forward P/E
35.7x
PEG
0.14
P/B
3.38x
EV / Revenue
1.1x
Book value/sh
kr 33.68
Enterprise value
kr 1.4B
Profitability
ROE
19.7%
FCF yield
9.94%
ROIC
9.0%
Health and risk
Debt / equity
0.19
Dividend yield
7.41%
Beta
0.64

Price

+15.0% · 1Y

Ask anything about CHEF.ST

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

This stock Peer Peer median weaker → stronger
P/Ebetter than 40% of peers
low 11.4x14.7xhigh 305.0x
ROEbetter than 100% of peers
low -15%20%high 20%
Div yieldbetter than 100% of peers
low 0.0%7.4%high 7.4%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
CHEF.ST Cheffelo AB (publ)kr 96.10kr 7823% above14.7x19.7%6971
HFFG HF Foods Group Inc. Common Stock$1.47----15.3%2640
ALODC.PA Omer-Decugis & Cie SA€7.06€72% above11.4x14.0%4444
WILC G. Willi-Food International Ltd. Ordinary Shares$27.75$3317% below14.6x12.2%6235
SLIGR.AS Sligro Food Group N.V.€9.07€1328% below15.1x5.7%3849
MLSRP.PA Speed Rabbit Pizza SA€12.20--305.0x0.8%4118
ACOMO.AS Acomo N.V.€23.00€4144% below11.7x13.8%4839

Sector report card

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

Computing percentiles…