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    SEALSQ (LAES) Valuation Check After Quantum-Ready IoT Partnership and Geneva Quantum Center Leadership Move

    Simply Wall St·12/25/2025 19:20:28
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    SEALSQ (LAES) just teamed up with Airmod on an open source enabled middleware stack built around its secure DevKits, aiming to cut quantum resistant IoT device deployment timelines roughly in half.

    See our latest analysis for SEALSQ.

    Those moves land at an interesting moment for investors, with SEALSQ’s share price last closing at $4.16 and showing a 7 day share price return of 7.77 percent, but a year to date share price return of minus 52.02 percent and a 1 year total shareholder return of minus 23.95 percent. This suggests recent momentum is improving from a still bruised longer term picture as the market reassesses both its growth potential and execution risk around quantum ready security.

    If this kind of quantum security story has your attention, it could be a good time to see what other high growth tech and AI names are setting up interesting risk reward profiles via high growth tech and AI stocks.

    With revenue growing more than 60 percent but losses still deep and the stock trading well below its analyst target, is SEALSQ quietly undervalued here, or is the market already discounting all that future quantum growth?

    Price to Book of 6.5x: Is it justified?

    SEALSQ shares last changed hands at $4.16, and the stock trades on a rich price to book ratio of 6.5 times versus peers.

    The price to book multiple compares the company’s market value to the accounting value of its net assets. It is a common yardstick for hardware heavy semiconductor and chip related businesses where tangible assets still matter.

    In SEALSQ’s case, paying 6.5 times book value while the company remains loss making with a negative return on equity suggests investors are already pricing in substantial future growth and margin improvement that has yet to appear in reported earnings.

    That premium looks even starker against the benchmarks. SEALSQ is valued at 6.5 times book compared to 3.8 times for the broader US semiconductor industry and 4.9 times across its closest peers, which underscores how aggressively the market is discounting its quantum security potential today.

    See what the numbers say about this price — find out in our valuation breakdown.

    Result: Price to Book of 6.5x (OVERVALUED).

    However, investors still face execution risk around scaling revenue sustainably, as well as the possibility that quantum security adoption proves slower or more competitive than expected.

    Find out about the key risks to this SEALSQ narrative.

    Build Your Own SEALSQ Narrative

    If you see the story differently or want to dig into the numbers yourself, you can build a custom view in just a few minutes: Do it your way.

    A great starting point for your SEALSQ research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.