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    Mips (OM:MIPS) Posted Stronger Q3 Results, Is It Still A Bargain?

    Simply Wall St·10/28/2026 06:19:30
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    Mips stock after Q3 earnings

    Mips (OM:MIPS) just released third quarter and nine month figures, giving investors a fresh look at how the helmet safety specialist is performing as of September 30, 2026.

    The group reported Q3 sales of SEK 215 million and net income of SEK 39 million, with basic earnings per share from continuing operations at SEK 1.48. For the first nine months, sales reached SEK 598 million and net income SEK 136 million, with basic earnings per share at SEK 5.12.

    Mips shares have been choppy in recent months, with a 1-day share price return of 2.14% and a 30-day gain of 4.65%, while the 90-day move is down 9%. Even so, the year-to-date share price return of 17.71% and a 3-year total shareholder return of 51.98% show longer term holders have still seen meaningful value creation, despite a 5-year total shareholder return that is down 61.40%.

    Scan beyond Mips and see how other helmet, sports gear, and consumer safety specialists are priced and growing in our hand picked screener of 610 high quality undiscovered gems.

    Mips is back on many watchlists after the recent swing, which leaves you weighing a fresh entry at SEK 400.2 against waiting for a better gap. So what does the current valuation actually suggest?

    Most Popular Narrative: 25% Undervalued

    Mips last closed at SEK 400.2, while the most followed narrative anchors fair value at SEK 534, which points to a valuation gap based on those assumptions and a 5.45% discount rate.

    Mips is experiencing strong organic growth, particularly in Europe, which may lead to an increase in revenue. As European consumer markets continue improving, Mips has the potential to boost its market share and sales volume in this region.

    See why 20 investors see Mips as 25% undervalued.

    Result: Fair Value of SEK 534 (UNDERVALUED)

    Still, the bullish Mips narrative leans on shaky ground if U.S. tariff uncertainty drags on or legal related costs eat into those SEK 171 million of annual profits.

    Find out about the key risks to this Mips narrative.

    Another View: What Mips’ P/E Is Telling You

    Mips might look cheap against a SEK 534 fair value, yet its P/E tells a different story. The shares trade on 62x earnings, compared with a 44.9x fair ratio, a 56.9x peer average and 16.5x for the European Leisure group. This points to valuation risk if growth expectations slip.

    See what the numbers say about this price in our valuation breakdown, then decide which signal you trust more: the narrative fair value or the current earnings multiple.See what the numbers say about this price — find out in our valuation breakdown.

    OM:MIPS P/E Ratio as at Oct 2026
    OM:MIPS P/E Ratio as at Oct 2026

    Next Steps

    If this mix of caution and optimism around Mips feels familiar, use it as a prompt to stress test the numbers yourself and move fast while sentiment is still settling. To see what investors view as the main positives, start with the 4 key rewards.

    Looking for more Mips-sized investment ideas?

    If you stop with Mips, you risk missing out on other stocks that fit your style just as well. Use the Simply Wall Street Screener to pressure test fresh ideas, compare quality, and keep your watchlist stacked with candidates ready for your next move.