Lumi Gruppen AS (LUMI) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Lumi Gruppen AS stock NOK 11.17, price NOK 13.40, that is 16.6% below the price, quality 52 out of 100. Rating: overvalued. Calculated from audited financials with 21 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.
How to read this chart
60‑month range kr 6.95 – kr 66.29 · fair‑value band kr 9.62 – kr 13.67 · the kr 13.40 price screens above the kr 11.17 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 2, 2026.
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Lumi Gruppen AS operates as an education provider in Norway. The company operates through three segments: Oslo Nye Høyskole, Oslo Nye Fagskole, and Sonans.
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The company provides bachelor programmes, annual programmes, master's programmes, and single-subject courses in psychology, health, social sciences, and business and administration, as well as practical and online programmes in technology, design, and digital innovation services.
The company also operates private candidate schools; facilitates the transfer of students to partner universities abroad; and offers tutoring and academic support in STEM subjects. In addition, it offers courses on campus, as well as online.
Lumi Gruppen AS was founded in 1989 and is headquartered in Oslo, Norway.
Stock analysis
Lumi Gruppen AS (LUMI) currently trades at kr 13.40, while our model-based Fair Value estimate is kr 11.17, 17% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 14.00 per share, and 10 of the 21 models we run sit above the kr 13.40 price.
Bear case: the Economic Profit group reads lowest at kr 6.65, and 11 of the 21 models stay below the price. Data coverage for this calculation is medium.
Scenario range: kr 9.62 (bear) to kr 13.67 (bull), the price of kr 13.40 sits inside 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 52/100 (solid quality), in the Consumer Defensive sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Lumi Gruppen AS reported revenue of 505M NOK in FY2025 versus 530M NOK in FY2021, a compound −1.2%/yr. Reported net income was 28.7M NOK in FY2025, compounding −16.5%/yr from FY2021.
Key figures
Market cap 914M NOK (≈ $98.0M) Micro · P/E ratio 17.9 · P/S ratio 1.67 · EPS (TTM) kr 0.7500 · Net margin 7.9% · Return on equity 8.4% · Return on assets (EBIT) 0.8% · Operating margin 15.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 28% fair-value upside, at −17%, LUMI screens richer than that median.
Fair Value models
Bearkr 9.62Fair Value kr 11.17Bullkr 13.67
Price kr 13.40 · Downside -16.6%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 0.6370 per share) are deliberately not added.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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+12.6%
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.
−0.4%
Revenue growth 5 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.
−0.5%
Start year 2020 (pandemic)
Revenue growth 7 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.
+0.3%
’18
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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.
−17.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−17.8%
Dividend (yield on the price)0.0%
Profit margin 2020 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.25% → 14%
⚠ Revenue per share shrinking 9.4%/yr over ~5Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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).
+13.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about +11.1% 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.Education & Training Services · 103 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−16.6% · Below median
Profitability
Return on equity (12 months)8.4% · Above median
Return on assets2.7% · Below median
Net margin (12 months)7.9% · Above median
Operating margin (12 months)15.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)17.7% · Top 25%
Valuation Multiplesvs Education & Training Services median · lower = cheaper
P/E (12 months)17.9× · Pricier than median
P/B1.76× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)1.67× · Pricier than median
Price / free cash flow (fiscal year)20.2× · Pricier than median
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Cite: Fair Value Calculator (2026). "Lumi Gruppen AS Fair Value". https://www.fairvalue-calculator.com/stock/LUMI
Frequently asked questions
Is Lumi Gruppen AS (LUMI) overvalued or undervalued?
As of Nov 2, 2026, our model estimates a fair value of kr 11.17 versus a price of kr 13.40, about 17% lower (overvalued).
What is the fair value of LUMI?
Our model-based fair value for Lumi Gruppen AS is kr 11.17 (as of Nov 2, 2026), built from audited fundamentals. The current price: kr 13.40.
What is the quality score of LUMI?
Lumi Gruppen AS has a Quality Score of 52/100. 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 Lumi Gruppen AS (LUMI)?
Our model-based price target is the fair value of kr 11.17 (as of Nov 2, 2026) from 21 valuation models. Cautious scenario kr 9.62, optimistic scenario kr 13.67. It is a calculation from audited fundamentals, not an analyst target.
What is the Lumi Gruppen AS stock forecast for 2026?
Our models put fair value at kr 11.17, about 17% lower versus a price of kr 13.40 (overvalued). Cautious scenario kr 9.62, optimistic scenario kr 13.67. The calculation is refreshed regularly with new filings.
What is the revenue of Lumi Gruppen AS (LUMI)?
Lumi Gruppen AS reported trailing-twelve-month revenue of about 548M NOK (latest available figure, as of Nov 2, 2026).
What growth is priced into Lumi Gruppen AS (LUMI)?
For today's price to be fair in a discounted-cash-flow model, Lumi Gruppen AS would have to grow free cash flow by +13.8 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.5 % per year. As of Nov 2, 2026.
What discount rate (WACC) does the fair value of LUMI use?
Our models discount Lumi Gruppen AS at 11.0 %: a base by market capitalisation (micro), damped by beta 0.36, 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 Lumi Gruppen AS that is +13.8 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Lumi Gruppen AS (LUMI) delivered so far?
Over the past 5 years revenue at Lumi Gruppen AS grew -0.5 % a year. The price currently implies +13.8 % per year free-cash-flow growth a 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 Lumi Gruppen AS (LUMI) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Lumi Gruppen AS (+13.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Lumi Gruppen AS (LUMI)?
The free-cash-flow yield on the price is 5.83 %: that much free cash flow Lumi Gruppen AS produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Lumi Gruppen AS (LUMI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lumi Gruppen AS it is kr 11.17 per share (as of Nov 2, 2026), against a price of kr 13.40. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is Lumi Gruppen AS stock overvalued or undervalued in 2026?
As of Nov 2, 2026, LUMI trades above its calculated fair value: price kr 13.40, fair value kr 11.17, a gap of about −17% (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 LUMI?
No. The price is what the market pays today (kr 13.40); the fair value is what the company's own numbers justify (kr 11.17). For Lumi Gruppen AS the two are kr 2.23 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lumi Gruppen AS worth?
The market values Lumi Gruppen AS at about 914M NOK (market capitalisation, as of Nov 2, 2026). Per share that is kr 13.40; our models calculate a fair value of kr 11.17 per share.
What do the bullish and bearish scenarios say about LUMI?
Our models span a range for Lumi Gruppen AS: cautious scenario kr 9.62, base kr 11.17, optimistic kr 13.67 per share (as of Nov 2, 2026, price kr 13.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LUMI?
Lumi Gruppen AS trades at a price-to-earnings ratio of 17.9 (as of Nov 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 11.17 is built from several models across several years. Other multiples: P/B 1.8, P/S 1.7, EV/EBITDA 8.8.
How solid is the balance sheet of Lumi Gruppen AS (LUMI)?
Balance-sheet figures for Lumi Gruppen AS (as of Nov 2, 2026): return on equity 8.4%. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is LUMI from its 52-week high?
Lumi Gruppen AS trades at kr 13.40, about 34% below its 52-week high of kr 20.40 and at the low of kr 13.40 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of kr 11.17 is for.
Which stocks are comparable to Lumi Gruppen AS?
From the same area (Consumer Defensive) we also value New Oriental Education & Technology Group, Laureate Education, Inc, Covista Inc, Physicswallah Limited, 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 Lumi Gruppen AS stock attractive at the current price?
The data as of Nov 2, 2026: price kr 13.40, calculated fair value kr 11.17 (−17%), Quality Score 52/100, from 21 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 LUMI calculated?
We run Lumi Gruppen AS through 21 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 11.17, 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 15.5% above its aggregate fair value. Lumi Gruppen AS 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 Lumi Gruppen AS (LUMI)?
The closing price on Nov 5, 2026 was kr 13.40. Our model-based fair value is kr 11.17, about 17% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lumi Gruppen AS right now?
Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Lumi Gruppen AS
How large is the market capitalisation of Lumi Gruppen AS (LUMI)?
The market capitalisation of Lumi Gruppen AS is 914M NOK (≈ $98.0M). 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 Lumi Gruppen AS (LUMI)?
The price-to-sales ratio of Lumi Gruppen AS is 1.67 (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 Lumi Gruppen AS (LUMI)?
Earnings per share at Lumi Gruppen AS are kr 0.7500 (price ÷ EPS = P/E 17.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Lumi Gruppen AS (LUMI)?
The net margin of Lumi Gruppen AS is 7.9% (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 Lumi Gruppen AS (LUMI)?
The return on equity (ROE) of Lumi Gruppen AS is 8.4% (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 Lumi Gruppen AS (LUMI)?
On an EBIT basis the return on assets of Lumi Gruppen AS is 0.8% (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.
What is the operating margin of Lumi Gruppen AS (LUMI)?
The operating margin of Lumi Gruppen AS is 15.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lumi Gruppen AS (LUMI)?
Revenue at Lumi Gruppen AS is growing +17.7% versus a year earlier (3y avg −0.4%). 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 Lumi Gruppen AS (LUMI)?
Earnings per share at Lumi Gruppen AS are growing +224% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Lumi Gruppen AS (LUMI) carry?
The net debt of Lumi Gruppen AS is 180M NOK (fiscal year 2025, ≈ 4.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 2, 2026