SSH Communications Security Oyj (SSH1V) fair value: what the stock is really worth
As of Nov 11, 2026: fair value (intrinsic value) of SSH Communications Security Oyj stock €0.42, price €1.87, that is 77.7% below the price, quality 22 out of 100. Rating: strongly overvalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
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SSH Communications Security Oyj
SSH1V · HEOur calculation puts a fair price 78% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.
How to read this chart
60‑month range €0.9680 – €5.10 · fair‑value band €0.3315 – €0.5015 · the €1.87 price screens above the €0.4165 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 11, 2026.
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Company profile
SSH Communications Security Oyj operates as a cybersecurity company for humans, systems, and networks in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.
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The company offers secure business communication products comprising SalaX Secure Mail, a secure email encryption solution to protect confidential email communications; SalaX Secure Messaging, a communications platform for chats, audio, and video calls; Secure Sign, a secure electronic signature to documents or other assets; and SalaX Secure Collaboration, all in one solution that includes secure messaging and secure mail.
It also provides secure access and secret management products, including PrivX Hybrid PAM Solution, an automated privileged access management solution for hybrid and multi-cloud environments; PrivX OT Edition, an on and off-site secure access management to any ICS/OT/IT target; and PrivX Key Management, a zero-trust encryption key management solution.
In addition, the company offers secure file transfer and encryption products, such as Tectia SSH Client/Server for secure file transfer, remote access, and tunneling; Tectia SSH Server for z/OS, a secure file transfer protocol server software; NQX quantum safe encryptor, a quantum-safe solution that transmits large-scale data using future-proof quantum-safe algorithms.
Further, it provides risk assessment services and discovery and audit self-services, as well as professional services. SSH Communications Security Oyj was incorporated in 1995 and is headquartered in Helsinki, Finland.
Stock analysis
SSH Communications Security Oyj (SSH1V) currently trades at €1.87, while our model-based Fair Value estimate is €0.4165, 78% 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 €0.5000 per share, and 0 of the 9 models we run sit above the €1.87 price.
Bear case: the Multiples group reads lowest at €0.2300, and 9 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: €0.3315 (bear) to €0.5015 (bull), the price of €1.87 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 22/100 (below-average quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
SSH Communications Security Oyj reported revenue of €21.6M in FY2025 versus €15.9M in FY2021, a compound +7.9%/yr. Reported net income was −€2.3M in FY2025.
Key figures
Market cap €131M Micro · P/S ratio 4.62 · EPS (TTM) €−0.0500 · Net margin −12.6% · Return on equity −21.0% · Return on assets (EBIT) −4.1% (5-year average) · Operating margin 8.8% · Revenue (TTM) €22.1M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −14% fair-value upside, at −78%, SSH1V screens richer than that median.
Fair Value models
All 9 models by family
The fair value above starts from this blend and is adjusted for dilution from new shares.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
SSH1V screens overvalued: fair value 78% below the price. Compare with Microsoft Corporation →
Compare SSH Communications Security Oyj with another stock
Price, fair value, quality and upside side by side.
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 - Infrastructure · 408 stocks
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Information Technology sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Return on equity by industry
- Quality Score by industry
- PEG screener for stocks with fair value
- Valuation of the Finland market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Microsoft Corporation MSFT | $521.13 | $599.70 | +15% | vs SSH1V |
| Fortinet, Inc FTNT | $128.10 | $135.93 | +6% | vs SSH1V |
| Block, Inc XYZ | $85.72 | $76.43 | −11% | vs SSH1V |
| Oracle Corporation ORCL | $128.38 | $111.97 | −13% | vs SSH1V |
| NetApp, Inc NTAP | $183.12 | $156.80 | −14% | vs SSH1V |
| Synopsys, Inc SNPS | $462.12 | $288.23 | −38% | vs SSH1V |
| Zscaler, Inc ZS | $193.80 | $101.45 | −48% | vs SSH1V |
| Palantir Technologies Inc PLTR | $172.40 | $42.20 | −76% | vs SSH1V |
| CrowdStrike Holdings CRWD | $229.06 | $37.97 | −83% | vs SSH1V |
| Palo Alto Networks, Inc PANW | $334.47 | $39.54 | −88% | vs SSH1V |
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