VEND MARKETPLACES ASA (VEND) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of VEND MARKETPLACES ASA stock NOK 77.59, price NOK 230, that is 66.3% below the price, quality 57 out of 100. Rating: strongly overvalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range kr 100.26 – kr 389.59 · fair‑value band kr 60.58 – kr 98.28 · the kr 230.40 price screens above the kr 77.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 5, 2026.
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Vend Marketplaces ASA, together with its subsidiaries, develops and operates various marketplaces in Norway, Sweden, Finland, and Denmark. The company operates through Mobility, Real Estate, Jobs, and Recommerce segments.
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Its marketplaces operations include online classified operations through FINN.no, blocket.se, tori.fi and oikotie.fi, and bilbasen.dk and dba.dk., which provide technology-based services to connect buyers and sellers and facilitate transactions, such as job offers, real estate, cars, travel, and consumer goods.
The company's marketplaces operations also comprise adjacent businesses, including Nettbil, Qasa, AutoVex, and HomeQ. The company was formerly known as Schibsted ASA and changed its name to Vend Marketplaces ASA in May 2025. Vend Marketplaces ASA was founded in 1839 and is based in Oslo, Norway.
Stock analysis
VEND MARKETPLACES ASA (VEND) currently trades at kr 230.40, while our model-based Fair Value estimate is kr 77.59, 66% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 88.63 per share, and 0 of the 7 models we run sit above the kr 230.40 price.
Bear case: the Asset-Based group reads lowest at kr 41.15, and 7 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 60.58 (bear) to kr 98.28 (bull), the price of kr 230.40 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Communication Services sector.
Mixed Growth: Spin-off in 2023: revenue and profit before it include the divested business. Growth is measured afresh from 2023.
VEND MARKETPLACES ASA reported revenue of 6.3B NOK in FY2025 versus 14.6B NOK in FY2021, a compound −18.8%/yr. Reported net income was −184M NOK in FY2025.
Key figures
Market cap 49.8B NOK (≈ $5.3B) Mid · P/S ratio 6.77 · EPS (TTM) kr −15.85 · Dividend yield 1.1% · Net margin −2.9% · Return on equity −14.2% · Return on assets (EBIT) 1.8% (5-year average) · Revenue (TTM) 6.3B NOK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 18 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 11% fair-value upside, at −66%, VEND screens richer than that median.
Fair Value models
Bearkr 60.58Fair Value kr 77.59Bullkr 98.28
Price kr 230.40 · Downside -66.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2023: revenue and profit before it include the divested business. Growth is measured afresh from 2023.
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
7.3% (2019) → −10.2% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+20.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about +17.6% a year for the price and +5.2% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (7 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: High gross margins indicate pricing strength in the marketplaces, yet negative net income and low returns on equity and assets limit evidence of any durable advantage.
Main risk: Continued buybacks risk masking slower underlying expansion in mobility and verticals, ultimately weighing on margins and returns.
Vend Marketplaces keeps buying back shares in the second tranche of its NOK 2 billion program, pushing treasury holdings above 5 percent and trimming free float. The four core verticals delivered double-digit constant-currency growth and wider margins through cost control, while Mobility stays in single-digit territory. Will the capital return mainly reward patient owners or mask slower underlying expansion?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Internet Content & Information · 122 stocks
Beats the industry median on 0/12 measures
Overall it trails its industry peers.
Valuation
Quality Score57 · Below median
Fair Value upside−66.3% · Bottom 25%
Profitability
Return on assets−0.6% · Below median
Net margin (12 months)−38.5% · Bottom 25%
Operating margin (12 months)0.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)2.9% · Below median
Dividend yield (12 months)1.1% · Below median
Balance sheet
Debt / equity0.08× · Above median
Valuation Multiplesvs Internet Content & Information median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is VEND MARKETPLACES ASA (VEND) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of kr 77.59 versus a price of kr 230.40, about 66% lower (overvalued).
What is the fair value of VEND?
Our model-based fair value for VEND MARKETPLACES ASA is kr 77.59 (as of Nov 5, 2026), built from audited fundamentals. The current price: kr 230.40.
What is the quality score of VEND?
VEND MARKETPLACES ASA has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for VEND MARKETPLACES ASA (VEND)?
Our model-based price target is the fair value of kr 77.59 (as of Nov 5, 2026) from 7 valuation models. Cautious scenario kr 60.58, optimistic scenario kr 98.28. It is a calculation from audited fundamentals, not an analyst target.
What is the VEND MARKETPLACES ASA stock forecast for 2026?
Our models put fair value at kr 77.59, about 66% lower versus a price of kr 230.40 (overvalued). Cautious scenario kr 60.58, optimistic scenario kr 98.28. The calculation is refreshed regularly with new filings.
What is the revenue of VEND MARKETPLACES ASA (VEND)?
VEND MARKETPLACES ASA reported trailing-twelve-month revenue of about 6.3B NOK (latest available figure, as of Nov 5, 2026).
Does VEND MARKETPLACES ASA pay a dividend?
VEND MARKETPLACES ASA currently shows a dividend yield of 1.09% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of VEND MARKETPLACES ASA (VEND) and when is the ex-dividend date?
VEND MARKETPLACES ASA pays a dividend of kr 2.50 per share a year, a dividend yield of 1.1%. The last ex-dividend date was May 4, 2026. A dividend has been paid every year since 2021. Free cash flow covers the dividend 2.54 times. Our assessment: Cash covered. The dividend is fully funded by free cash flow. The payout ratio on earnings is not available for this company.
What growth is priced into VEND MARKETPLACES ASA (VEND)?
For today's price to be fair in a discounted-cash-flow model, VEND MARKETPLACES ASA would have to grow free cash flow by +20.5 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -13.3 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of VEND use?
Our models discount VEND MARKETPLACES ASA at 9.0 %: a base by market capitalisation (mid), damped by beta 0.80, country premium for Norway. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For VEND MARKETPLACES ASA that is +20.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has VEND MARKETPLACES ASA (VEND) delivered so far?
Over the past 5 years revenue at VEND MARKETPLACES ASA grew -13.3 % a year. The price currently implies free-cash-flow growth of +20.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of VEND MARKETPLACES ASA (VEND) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into VEND MARKETPLACES ASA (+20.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of VEND MARKETPLACES ASA (VEND)?
The free-cash-flow yield on the price is 2.50 %: that much free cash flow VEND MARKETPLACES ASA produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of VEND MARKETPLACES ASA (VEND)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For VEND MARKETPLACES ASA it is kr 77.59 per share (as of Nov 5, 2026), against a price of kr 230.40. It is the blended result of 7 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is VEND MARKETPLACES ASA stock overvalued or undervalued in 2026?
As of Nov 5, 2026, VEND trades above its calculated fair value: price kr 230.40, fair value kr 77.59, a gap of about −66% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of VEND?
No. The price is what the market pays today (kr 230.40); the fair value is what the company's own numbers justify (kr 77.59). For VEND MARKETPLACES ASA the two are kr 152.81 per share apart. That gap is exactly why we show both numbers side by side.
How much is VEND MARKETPLACES ASA worth?
The market values VEND MARKETPLACES ASA at about 49.8B NOK (market capitalisation, as of Nov 5, 2026). Per share that is kr 230.40; our models calculate a fair value of kr 77.59 per share.
What do the bullish and bearish scenarios say about VEND?
Our models span a range for VEND MARKETPLACES ASA: cautious scenario kr 60.58, base kr 77.59, optimistic kr 98.28 per share (as of Nov 5, 2026, price kr 230.40). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of VEND MARKETPLACES ASA (VEND)?
Balance-sheet figures for VEND MARKETPLACES ASA (as of Nov 5, 2026): return on equity −14.2%, debt of 0.08 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is VEND from its 52-week high?
VEND MARKETPLACES ASA trades at kr 230.40, about 31% below its 52-week high of kr 332.94 and 23% above the low of kr 187.90 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 77.59 is for.
Which stocks are comparable to VEND MARKETPLACES ASA?
From the same area (Communication Services) we also value Alphabet Inc, Meta Platforms, Inc, Tencent Holdings, Spotify Technology S.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is VEND MARKETPLACES ASA stock attractive at the current price?
The data as of Nov 5, 2026: price kr 230.40, calculated fair value kr 77.59 (−66%), Quality Score 57/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of VEND calculated?
We run VEND MARKETPLACES ASA through 7 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of kr 77.59 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. VEND MARKETPLACES ASA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of VEND MARKETPLACES ASA (VEND)?
The closing price on Nov 6, 2026 was kr 230.40. Our model-based fair value is kr 77.59, about 66% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with VEND MARKETPLACES ASA right now?
The price sits above even our optimistic bull case (kr 98.28). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of VEND MARKETPLACES ASA
How large is the market capitalisation of VEND MARKETPLACES ASA (VEND)?
The market capitalisation of VEND MARKETPLACES ASA is 49.8B NOK (≈ $5.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of VEND MARKETPLACES ASA (VEND)?
The price-to-sales ratio of VEND MARKETPLACES ASA is 6.77 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of VEND MARKETPLACES ASA (VEND)?
Earnings per share at VEND MARKETPLACES ASA are kr −15.85. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of VEND MARKETPLACES ASA (VEND)?
The dividend yield of VEND MARKETPLACES ASA is 1.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of VEND MARKETPLACES ASA (VEND)?
The net margin of VEND MARKETPLACES ASA is −2.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of VEND MARKETPLACES ASA (VEND)?
The return on equity (ROE) of VEND MARKETPLACES ASA is −14.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of VEND MARKETPLACES ASA (VEND)?
On an EBIT basis the return on assets of VEND MARKETPLACES ASA is 1.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How fast is revenue growing at VEND MARKETPLACES ASA (VEND)?
Revenue at VEND MARKETPLACES ASA is growing +2.9% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at VEND MARKETPLACES ASA (VEND)?
Earnings per share at VEND MARKETPLACES ASA are growing −91.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does VEND MARKETPLACES ASA (VEND) hold?
VEND MARKETPLACES ASA holds more cash than debt, 1.7B NOK net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Nov 5, 2026