Flowsparks NV (FLSP) fair value: what the stock is really worth
As of Oct 16, 2026: fair value (intrinsic value) of Flowsparks NV stock €11.86, price €21.60, that is 45.1% below the price, quality 78 out of 100. Rating: strongly overvalued. Calculated from audited financials with 25 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 €14.80 – €26.29 · fair‑value band €7.81 – €16.96 · the €21.60 price screens above the €11.86 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Flowsparks NV provides e-learning solutions in Belgium and internationally.
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The company's learning platforms include Authoring tool, which uses didactic flow formats and templates to create e-learning; and Learning Management System for the distribution, reporting, and administration of e-Learning users.
Its platforms comprise FastPass, which manage access to digital modules. In addition, the company develops e-learning solution of choice which offers expertise in range of topics and sectors including co-production, outsourcing, and advice services.
Flowsparks NV was founded in 1993 and is headquartered in Gent, Belgium.
Stock analysis
Flowsparks NV (FLSP) currently trades at €21.60, while our model-based Fair Value estimate is €11.86, 45% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €17.29 per share, and 1 of the 25 models we run sit above the €21.60 price.
Bear case: the Earnings-Based group reads lowest at €5.72, and 24 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: €7.81 (bear) to €16.96 (bull), the price of €21.60 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 78/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Flowsparks NV reported revenue of €10.2M in FY2025 versus €7.8M in FY2021, a compound +7.0%/yr. Reported net income was €1.6M in FY2025, compounding +4.0%/yr from FY2021.
Key figures
Market cap €46.5M Micro · P/E ratio 30.0 · P/S ratio 4.58 · EPS (TTM) €0.7200 · Dividend yield 4.6% · Net margin 15.3% · Return on equity 25.5% · Return on assets (EBIT) 17.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 76 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −45%, FLSP screens richer than that median.
Fair Value models
Bear€7.81Fair Value €11.86Bull€16.96
Price €21.60 · Downside -45.1%
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.88/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.7%
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+7.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.2%
Dividend (yield on the price)4.6%
Profit margin 2021 to 2025 ⓘ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.22% → 21%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+31.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +28.8% a year for the price.
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.Software - Application · 621 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score78 · Top 25%
Fair Value upside−45.1% · Below median
Profitability
Return on equity (12 months)25.5% · Top 25%
Return on assets14.3% · Top 25%
Net margin (12 months)15.3% · Top 25%
Operating margin (12 months)21.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)0.0% · Below median
Dividend yield (12 months)4.6% · Top 25%
Valuation Multiplesvs Software - Application 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.
Cite: Fair Value Calculator (2026). "Flowsparks NV Fair Value". https://www.fairvalue-calculator.com/stock/FLSP
Frequently asked questions
Is Flowsparks NV (FLSP) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of €11.86 versus the last price from Oct 16, 2026 of €21.60, about 45% lower (overvalued).
What is the fair value of FLSP?
Our model-based fair value for Flowsparks NV is €11.86 (as of Nov 5, 2026), built from audited fundamentals. Last price (from Oct 16, 2026): €21.60.
What is the quality score of FLSP?
Flowsparks NV has a Quality Score of 78/100. 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 Flowsparks NV (FLSP)?
Our model-based price target is the fair value of €11.86 (as of Nov 5, 2026) from 25 valuation models. Cautious scenario €7.81, optimistic scenario €16.96. It is a calculation from audited fundamentals, not an analyst target.
What is the Flowsparks NV stock forecast for 2026?
Our models put fair value at €11.86, about 45% lower versus the last price from Oct 16, 2026 of €21.60 (overvalued). Cautious scenario €7.81, optimistic scenario €16.96. The calculation is refreshed regularly with new filings.
What is the revenue of Flowsparks NV (FLSP)?
Flowsparks NV reported trailing-twelve-month revenue of about €10.2M (latest available figure, as of Nov 5, 2026).
Does Flowsparks NV pay a dividend?
Flowsparks NV currently shows a dividend yield of 4.63% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Flowsparks NV (FLSP) and when is the ex-dividend date?
Flowsparks NV pays a dividend of €1.00 per share a year, a dividend yield of 4.6%. The last ex-dividend date was Sep 29, 2026. The payout ratio is 139% of earnings. Free cash flow covers the dividend 0.52 times. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What growth is priced into Flowsparks NV (FLSP)?
For today's price to be fair in a discounted-cash-flow model, Flowsparks NV would have to grow free cash flow by +31.6 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +7.0 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of FLSP use?
Our models discount Flowsparks NV at 13.3 %: a base by market capitalisation (micro), country premium for Belgium. 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 Flowsparks NV that is +31.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has Flowsparks NV (FLSP) delivered so far?
Over the past 4 years revenue at Flowsparks NV grew +7.0 % a year. The price currently implies free-cash-flow growth of +31.6 % 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 Flowsparks NV (FLSP) growing?
The median revenue growth in the sector is +16.8 % a year. That is the yardstick for the growth priced into Flowsparks NV (+31.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Flowsparks NV (FLSP)?
The free-cash-flow yield on the price is 2.39 %: that much free cash flow Flowsparks NV produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Flowsparks NV (FLSP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Flowsparks NV it is €11.86 per share (as of Nov 5, 2026), against a price of €21.60. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Flowsparks NV stock overvalued or undervalued in 2026?
As of Nov 5, 2026, FLSP trades above its calculated fair value: price €21.60, fair value €11.86, a gap of about −45% (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 FLSP?
No. The price is what the market pays today (€21.60); the fair value is what the company's own numbers justify (€11.86). For Flowsparks NV the two are €9.74 per share apart. That gap is exactly why we show both numbers side by side.
How much is Flowsparks NV worth?
The market values Flowsparks NV at about €46.5M (market capitalisation, as of Nov 5, 2026). Per share that is €21.60; our models calculate a fair value of €11.86 per share.
What do the bullish and bearish scenarios say about FLSP?
Our models span a range for Flowsparks NV: cautious scenario €7.81, base €11.86, optimistic €16.96 per share (as of Nov 5, 2026, price €21.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FLSP?
Flowsparks NV trades at a price-to-earnings ratio of 30.0 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €11.86 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings: 36.3. Other multiples: P/B 8.0, P/S 4.6, EV/EBITDA 19.1.
How solid is the balance sheet of Flowsparks NV (FLSP)?
Balance-sheet figures for Flowsparks NV (as of Nov 5, 2026): return on equity 25.5%. They feed the Quality Score of 78/100, which measures business quality independently of the share price.
How far is FLSP from its 52-week high?
Flowsparks NV trades at €21.60, about 18% below its 52-week high of €26.29 and 38% above the low of €15.62 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of €11.86 is for.
Which stocks are comparable to Flowsparks NV?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, 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 Flowsparks NV stock attractive at the current price?
The data as of Nov 5, 2026: price €21.60, calculated fair value €11.86 (−45%), Quality Score 78/100, from 25 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 FLSP calculated?
We run Flowsparks NV through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €11.86 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. Flowsparks NV 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 Flowsparks NV (FLSP)?
The latest price we hold is from Oct 16, 2026 and stands at €21.60. Our model-based fair value is €11.86, about 45% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Flowsparks NV right now?
A high-quality business (quality 78/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (€16.96). The favourable scenario is already priced in. A fairly wide model range (€7.81 to €16.96) leaves room in how you read the outcome.
Key figures of Flowsparks NV
How large is the market capitalisation of Flowsparks NV (FLSP)?
The market capitalisation of Flowsparks NV is €46.5M. 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 Flowsparks NV (FLSP)?
The price-to-sales ratio of Flowsparks NV is 4.58 (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 Flowsparks NV (FLSP)?
Earnings per share at Flowsparks NV are €0.7200 (price ÷ EPS = P/E 30.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Flowsparks NV (FLSP)?
The dividend yield of Flowsparks NV is 4.6% (payout 139%). 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 Flowsparks NV (FLSP)?
The net margin of Flowsparks NV is 15.3% (last twelve months). 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 Flowsparks NV (FLSP)?
The return on equity (ROE) of Flowsparks NV is 25.5% (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 Flowsparks NV (FLSP)?
On an EBIT basis the return on assets of Flowsparks NV is 17.7% (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.
What is the operating margin of Flowsparks NV (FLSP)?
The operating margin of Flowsparks NV is 21.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
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Broad data
Nov 5, 2026