Ambu (CPSE:AMBU B) Reports Mixed Q3 Results, Is The Stock Still Undervalued?

Quarterly earnings shift focus to Ambu stock

Ambu (CPSE:AMBU B) has drawn fresh attention after reporting third quarter 2026 sales of DKK 1,640 million and net income of DKK 156 million, alongside softer net income for the nine month period.

The mixed earnings picture appears to be feeding into Ambu stock’s choppy trading pattern, with the share price at DKK 70.5 after a 1 day share price return of 0.5%, a 90 day share price return of 9.22% and a 1 year total shareholder return that declined 26.44%, suggesting some recent momentum against a weaker longer term record.

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After Ambu’s recent bounce and its still weak multi year record, the key issue now is whether most of the re rating has already happened or if the current valuation still leaves meaningful upside on the table.

Most Popular Narrative: 20.6% Undervalued

Ambu’s most followed valuation narrative points to a fair value of DKK 88.8 per share, compared with the latest close at DKK 70.5. The gap between those two figures is built on detailed assumptions about growth, profitability and risk, rather than short term trading swings.

Ongoing portfolio expansion and first-mover advantages in new segments (e.g., urology, pediatric blades, and complex endoscopy procedures) enable continued penetration of under-served clinical areas. These advances should drive both higher average selling prices and top-line revenue growth over the medium-to-long term.

Read the complete narrative.

Want to see what is baked into that DKK 88.8 fair value for Ambu? The narrative leans on ambitious revenue expansion, higher margins and a future earnings multiple that assumes the business matures into a very different profit profile. Curious which specific growth and profitability targets support that view?

Result: Fair Value of DKK 88.8 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, Ambu’s reliance on single use endoscopes and exposure to currency and tariff pressures could quickly challenge the optimistic fair value narrative if conditions shift.

Find out about the key risks to this Ambu narrative.

Another view on Ambu’s valuation

While the Ambu narrative points to a DKK 88.8 fair value using future earnings and a target P/E, the current P/E of 36.5x is higher than the European Medical Equipment industry at 25.9x, the peer average at 27.8x and the fair ratio of 32x. That premium raises the question of how much good news is already priced in.

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

Next Steps

With mixed signals around Ambu and its valuation, it helps to move fast, review the underlying data, and reach your own stance. To weigh both the potential upside and the areas of concern, check the 3 key rewards and 1 important warning sign.

Looking for more investment ideas beyond Ambu?

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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.

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