Cheffelo AB (publ) (CHEF.ST)

Cheffelo AB (publ) (CHEF.ST) — VMCI valuation read

Headline read on CHEF.ST: VMCI of 57/100 versus a Consumer Defensive sector median of 50. The 7-point above-median position is what makes Cheffelo AB (publ) a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on CHEF.ST: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on CHEF.ST: value (CHEF.ST trades at 25.0x earnings, 39% above the Consumer Defensive median of 18.0x), quality (ROIC of 15.0% sits 5.0pp above the Consumer Defensive median (10.0%)), and risk (net debt to EBITDA of 2.5x is the rate-sensitivity line to watch). The value read also implies an EV/EBITDA gap of +4.0x against the Consumer Defensive 12.0x baseline.

CHEF.ST fell 2.1% over the trailing 7 days, with a +5.9% read on a 30-day basis.