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Sealsq Corp

LAES

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Sealsq Corp is a technology company specializing in secure semiconductors and digital security solutions for connected devices. The company focuses on secure microcontrollers, post-quantum cryptography chips, and IoT trust services designed to protect data, identities, and communications across modern digital infrastructures. Its products are used in applications such as multifactor authentication, home automation, IT networks, automotive systems, and industrial control environments, where robust hardware-based security is critical. Sealsq Corp offers an integrated architecture combining secure elements, RISC-V–based platforms, and public key infrastructure services to enable device authentication, secure provisioning, and lifecycle management at scale. Headquartered in Cointrin, Switzerland, the company serves customers in multiple regions, with a significant share of its business in North America. Through its focus on quantum-resistant security and embedded trust, Sealsq Corp plays a specialized role in the information technology and semiconductor industry, supporting manufacturers, service providers, and infrastructure operators that require high-assurance security components.

Valuation & Multiples

Based on TTM earnings · Diluted shares

Market Cap$204M
EPS-$0.24
P/E-5.96
P/FCF-6.27
EV/EBITDA5.43
FCF Yield–
Div. Yield–
Net Debt/FCF12.9x
Sealsq Corp intrinsic value
52-Week Range
$1.36$4.29

Profitability & Returns

Revenue (TTM)

$18M

▲ +66.2% YoY

Net Income (TTM)

-$34M

▼ -61.3% YoY

Op. Margin

-218.08%

▼ -61.5pp YoY

ROIC

-11.33%

▲ +14.3pp YoY

Cash Flow & Balance Sheet

FCF (TTM)

-$33M

▼ -203.9% YoY

Op. Cash Flow (TTM)

-$19M

▼ -185.5% YoY

Net Debt

-$420M

Net Cash Position

Cash & Equiv.

$428M

3Y CAGR: -7.7%

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Held by ETFs

LAES is in 2 US ETFs. The largest of them, with LAES's weight in each:

Sealsq (LAES) in four numbers

Fair value (revenue)
$0.64
Price $1.43 is 125% above it.
Intrinsic Value
Quality score
10/100
Best check: net debt, -$420M. Weakest: return on capital, -11.3%.
Quality
Dividend
None
No dividend in the company filings we hold.
Dividends
P/E
-5.96
Negative: a loss over the last twelve months. Price to free cash flow -6.27.
Financials

Questions about Sealsq

Is Sealsq (LAES) overvalued?

At $1.43, Sealsq's price is 125% above the $0.64 a share fair value that Intrinsiqq's calculator gets from its revenue. The growth behind that figure is yours to set on the Intrinsic Value tab. See how to tell if a stock is overvalued.

What is Sealsq's fair value?

Intrinsiqq's calculator puts Sealsq's fair value at $0.64 a share. It grows revenue per share 0% a year for 5 years, applies an exit P/S of 8, and works back at a 10% yearly return. A 25% margin of safety gives a buy-below price of $0.48. Every input can be changed on the Intrinsic Value tab.

Is Sealsq a high-quality business?

Sealsq scores 10 out of 100 on Intrinsiqq's quality score, which makes it a lower-quality business on these measures. The score blends 6 checks computed from company filings. Its best check is net debt at -$420M, and its weakest is return on capital at -11.3%. The Quality tab shows every check against its target.

Does Sealsq (LAES) pay a dividend?

No. Sealsq (LAES) does not pay a dividend, and no dividend payment appears anywhere in the filing history we hold. Nor has its share count fallen meaningfully over the last twelve months, so cash is kept in the business. The Dividends tab shows its cash returns.

Source: company filings. Price: last close 4 Nov 2026. How this is calculated. Sector medians are approximate S&P 500 benchmarks and update periodically. Analysis, not investment advice.

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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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Not financial advice. Analytical data for research only.

Intrinsiqq is a Netherlands-based company operating in Rotterdam, KvK 73238007.