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Note AB (publ)
STO:NOTE

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Note AB (publ)
STO:NOTE
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Price: 192.8 SEK 2.55%
Market Cap: kr5.5B

P/S

1.4
Current
19%
More Expensive
vs 3-y average of 1.2

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
1.4
=
Market Cap
kr5.4B
/
Revenue
kr3.8B

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
1.4
=
Market Cap
kr5.4B
/
Revenue
kr3.8B

Valuation Scenarios

Note AB (publ) is trading above its 3-year average

If P/S returns to its 3-Year Average (1.2), the stock would be worth kr162.01 (16% downside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-16%
Maximum Upside
+69%
Average Upside
21%
Scenario P/S Value Implied Price Upside/Downside
Current Multiple 1.4 kr192.8
0%
3-Year Average 1.2 kr162.01
-16%
5-Year Average 1.3 kr178.68
-7%
Industry Average 2.4 kr326.38
+69%
Country Average 2 kr263.99
+37%

Forward P/S
Today’s price vs future revenue

Today's Market Cap Revenue Forward P/S
kr5.4B
/
Jan 2026
kr3.8B
=
1.4
Current
kr5.4B
/
Dec 2026
kr4.8B
=
1.1
Forward
kr5.4B
/
Dec 2027
kr5.4B
=
1
Forward
kr5.4B
/
Dec 2028
kr5.8B
=
0.9
Forward

Forward P/S shows whether today’s P/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
P/S
P/E
All Countries
Close
Market Cap P/S P/E
SE
Note AB (publ)
STO:NOTE
5.5B SEK 1.4 19.5
CN
Foxconn Industrial Internet Co Ltd
SSE:601138
1.3T CNY 1.4 36.1
TW
Hon Hai Precision Industry Co Ltd
TWSE:2317
3.1T TWD 0.4 16.4
CH
TE Connectivity Ltd
NYSE:TEL
62.7B USD 3.3 21.4
CA
Celestica Inc
TSX:CLS
61.8B CAD 3.7 55.6
US
Jabil Inc
NYSE:JBL
36.2B USD 1.1 44
SG
Flex Ltd
NASDAQ:FLEX
34.5B USD 1.3 40.5
KY
Fabrinet
NYSE:FN
25.8B USD 6.3 65
US
TTM Technologies Inc
NASDAQ:TTMI
15.4B USD 5 81.8
TW
FIH Mobile Ltd
F:FW3
11.5B EUR 2 252.8
US
Sollensys Corp
OTC:SOLS
12.9B USD 3.3 53.7

Market Distribution

In line with most companies in Sweden
Percentile
39th
Based on 1 386 companies
39th percentile
1.4
Low
0.1 — 1.2
Typical Range
1.2 — 4.4
High
4.4 —
Distribution Statistics
Sweden
Min 0.1
30th Percentile 1.2
Median 2
70th Percentile 4.4
Max 13 940.4

Note AB (publ)
Glance View

Note AB engages in the electronics manufacturing services. The company is headquartered in Stockholm, Stockholm and currently employs 1,346 full-time employees. The company went IPO on 2004-06-23. The Company’s operational segments are divided into two categories: Nearsourcing Centres and Industrial Plants. The Nearsourcing Centres segment comprises selling facilities in Sweden, Norway, Finland and the United Kingdom (UK), which provide development-oriented work in relationship with customers. The Industrial Plants area includes manufacturing units in Estonia and China. The firm specializes in the production of printed circuit board assemblies (PCBAs), sub-assemblies and box build products, as well as in the delivery of product and test management, end of life management, and spare parts, among others. Furthermore, It operates through a number of subsidiaries, such as NOTE Components AB, NOTE International AB, NOTE UK Ltd, NOTE Norge AS, NOTE Hyvinkaa Oy and IONOTE Electronics (Dongguan) Ltd.

NOTE Intrinsic Value
146.82 SEK
Overvaluation 24%
Intrinsic Value
Price kr192.8
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