Fragbite Group AB (publ) (FRAG.ST)

Fragbite Group AB (publ) (FRAG.ST) — VMCI valuation read

Headline read on FRAG.ST: VMCI of 52/100 versus a Technology sector median of 50. The 2-point above-median position is what makes Fragbite Group AB (publ) a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on FRAG.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 FRAG.ST: value (FRAG.ST trades at 15.0x earnings, 17% below the Technology median of 18.0x), quality (ROIC of 15.0% sits 5.0pp above the Technology median (10.0%)), and risk (net debt to EBITDA of 1.3x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Technology 12.0x baseline.

FRAG.ST fell 3.7% over the trailing 7 days, with a -14.1% read on a 30-day basis.