Added to YB: 2026-01-13
Pitch date: 2026-01-10
KLAR [bullish]
Klarna Group plc
-5.2%
current return
Author Info
P14 Capital is a former buy-side research analyst who uncovers undervalued opportunities in SMID-cap equities. Long-biased and generalist. Sign up for the newsletter.
Company Info
Klarna Group plc operates as a digital bank and flexible payments provider in the United Kingdom, the United States, Germany, Sweden, and internationally.
Market Cap
$11.9B
Pitch Price
$32.28
Price Target
48.18 (+57%)
Dividend
N/A
EV/EBITDA
16.05
P/E
-4.73
EV/Sales
1.99
Sector
Financial Services
Category
growth
LONG $KLAR - Klarna, the BNPL winner
KLAR: BNPL market leader at 6.3x FY26E TMD vs AFRM's 13.8x despite 3x larger GMV, 30% projected '26 revenue growth vs 24% for AFRM. Fair Financing scaling (244% US growth Q3), Walmart deal adding $3B GMV, default-on PSP strategy with Stripe/JPM. Transaction margins expanding 460bps in '26 to 40.5%. Risks: March '26 lockup (11x float), consumer weakness, provisioning volatility. $48 target (53% upside).
Read full article (34 min)