Data sourced from SEC EDGAR 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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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Yubico AB is a Swedish cybersecurity company founded in 2007, specializing in hardware-based authentication solutions to enhance secure access to computers, mobile devices, servers, browsers, and internet accounts. The company's flagship product, the YubiKey, is a USB and NFC-enabled hardware device that delivers phishing-resistant multi-factor authentication (MFA) and supports passwordless logins via passkey technology, aligning with open standards like FIDO2, WebAuthn, and FIDO U2F. Yubico AB serves customers in over 160 countries across industries such as finance, technology, healthcare, and government, offering products through perpetual sales and subscription models where hardware is provided as a service. As a pioneer in identity and access management, it contributes to global standards through alliances like the FIDO Alliance and initiatives like Secure it Forward, donating keys to support at-risk individuals. Headquartered in Stockholm with around 528-536 employees, Yubico AB operates in the technology sector's software infrastructure industry, playing a vital role in combating credential theft and promoting safer digital ecosystems worldwide.
kr 5.28
+kr 0.34 (+6.84%)
Live · 10:02 PM · Twelve Data
Operating margin is thin at 8.42%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 4.7% YoY. Margins deteriorated 10.2pp alongside, both lines moving the wrong way.
Free cash flow declined 26% versus the prior year, cash generation momentum has weakened. ROIC dropped from 24.93% to 8.64%, capital efficiency is deteriorating.
4.7x earnings, 1.5x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
kr 2.07B
▼ -4.7% YoY
Net Income (TTM)
kr 98M
▼ -65.5% YoY
Op. Margin
5.55%
▼ -10.2pp YoY
ROIC
8.64%
▼ -16.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
kr 297M
▼ -26.2% YoY
Op. Cash Flow (TTM)
kr 319M
▼ -26.6% YoY
Net Debt
-kr 856M
Net Cash Position
Cash & Equiv.
kr 895M
3Y CAGR: +12.4%
3Y CAGR: +146.7%
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At a P/E of 4.7 and a price-to-free-cash-flow of 1.5, Yubico AB (YUBICO.XSTO) trades below a two-stage DCF intrinsic value of about SEK 183.87 per share, so at SEK 5.28 the stock looks undervalued (3,382.4% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Yubico AB scores 65/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about SEK 183.87 per share for YUBICO.XSTO, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around SEK 137.90. At today's SEK 5.28, that puts the stock about 3,382.4% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Yubico AB scores 65 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a solid business on these measures. Recent fundamentals include a 5.5% operating margin and a 8.6% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
That depends on valuation and quality together, not either alone. YUBICO.XSTO currently trades below its estimated intrinsic value and scores 65/100 on quality (solid). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.