Tandem Group (TND) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Tandem Group stock £2.81, price £1.70, upside +65.3%, quality 66 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 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 4, 2026.
How to read this chart
60‑month range £1.13 – £6.09 · fair‑value band £2.02 – £3.60 · the £1.70 price screens below the £2.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 4, 2026.
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Tandem Group plc designs, develops, distributes, and retails of sports, leisure, and mobility products in the United Kingdom. It operates in four segments: Toy, Sports & Leisure, Bicycles, and Home & Garden.
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The company offers bicycles and accessories under the Amflow, Boss, Claud Butler, Dashel, Dawes, Elswick, Falcon, Gocycle, Hoy, Orbea, Pure, Swytch, Squish, Tern, Trek, Whyte, VanMoof, and Zombie brands; football training products under the Kickmaster name; golf products under the Ben Sayers and Pro Rider brands; and garden and homewares products under the Airwave, Airwave Four Seasons, Garden Trading, Greenhurts, and Jack Stonehouse brand names.
It also provides outdoor play products under the Airwave and Hedstrom brands; and snooker, pool, and table sports products under the Pot Black brand.
In addition, the company offers wheeled toys under the Barbie, Batman, Bing, Bluey, CoComelon, Disney Frozen, Disney Junior Mickey, Disney Junior Minnie, Disney Moana, Disney Princes, Disney Stitch, Disney Winnie the Pooh, Dora, Gabby's Dollhouse, Hey Duggee, Jurassic World, Li-Fe, L.O.L. Surprise!, Marvel Avengers, Marvel Spider-Man, Marvel Spidey and His Amazing Friends, Minions, Monster High, MoVe, MoVe Squishles, MoVe Pet2go, Nerf, Paw Patrol, Peppa Pig, Star Wars, Superman, Sonic The Hedgehog, SpongeBob SquarePants, Stunted, Teenage Mutant Ninja Turtles, Thomas & Friends, Transformers, Unicorn Academy, Wired, and Wicked brand names.
The company was incorporated in 1958 and is headquartered in Birmingham, the United Kingdom.
Stock analysis
Tandem Group (TND) currently trades at £1.70, while our model-based Fair Value estimate is £2.81, implying the stock looks roughly 40% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of £4.42 per share, and 18 of the 24 models we run sit above the £1.70 price.
Bear case: the Asset-Based group reads lowest at £0.6600, and 6 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: £2.02 (bear) to £3.60 (bull), the price of £1.70 sits below 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 66/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Tandem Group reported revenue of £26.2M in FY2025 versus £40.9M in FY2021, a compound −10.6%/yr. Reported net income was £850K in FY2025, compounding −31.3%/yr from FY2021.
Key figures
Market cap £9.4M Micro · P/E ratio 7.1 · P/S ratio 0.35 · EPS (TTM) £0.2400 · Dividend yield 1.8% · Net margin 4.8% · Return on equity 5.3% · Return on assets (EBIT) 3.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 65%, TND screens cheaper than that median.
Fair Value models
Bear£2.02Fair Value £2.81Bull£3.60
Price £1.70 · Upside +65.3%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (£0.1801 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 inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+6.2%
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.
−0.7%
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.
−6.7%
Start year 2020 (pandemic). Over 10 years: −2.7% a year
Revenue growth 40 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.
−0.7%
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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.
−23.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−25.0%
Dividend (yield on the price)1.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−25.0% vs −2.7%, slowing
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.11% → 4%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 3.7%/yr over ~10Y (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
Little optimism in the price
The price assumes less 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).
−16.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about −18.4% 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.Leisure · 170 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside+65.3% · Top 25%
Profitability
Return on equity (12 months)5.3% · Below median
Return on assets2.4% · Below median
Net margin (12 months)4.8% · Below median
Operating margin (12 months)1.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)6.7% · Above median
Dividend yield (12 months)1.8% · Below median
Balance sheet
Debt / equity0.12× · Above median
Valuation Multiplesvs Leisure 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). "Tandem Group Fair Value". https://www.fairvalue-calculator.com/stock/TND
Frequently asked questions
Is Tandem Group (TND) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of £2.81 versus a price of £1.70, about +65% upside (undervalued).
What is the fair value of TND?
Our model-based fair value for Tandem Group is £2.81 (as of Nov 4, 2026), built from audited fundamentals. The current price: £1.70.
What is the quality score of TND?
Tandem Group has a Quality Score of 66/100. 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 Tandem Group (TND)?
Our model-based price target is the fair value of £2.81 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario £2.02, optimistic scenario £3.60. It is a calculation from audited fundamentals, not an analyst target.
What is the Tandem Group stock forecast for 2026?
Our models put fair value at £2.81, about +65% upside versus a price of £1.70 (undervalued). Cautious scenario £2.02, optimistic scenario £3.60. The calculation is refreshed regularly with new filings.
What is the revenue of Tandem Group (TND)?
Tandem Group reported trailing-twelve-month revenue of about £26.9M (latest available figure, as of Nov 4, 2026).
Does Tandem Group pay a dividend?
Tandem Group currently shows a dividend yield of 1.76% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Tandem Group (TND) and when is the ex-dividend date?
Tandem Group pays a dividend of £0.03 per share a year, a dividend yield of 1.8%. The last ex-dividend date was Jun 4, 2026. The payout ratio is 12.5% of earnings. Free cash flow covers the dividend 14.57 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Tandem Group (TND)?
For today's price to be fair in a discounted-cash-flow model, Tandem Group would have to grow free cash flow by -16.5 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.7 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of TND use?
Our models discount Tandem Group at 9.9 %: a base by market capitalisation (nano), damped by beta 0.83, country premium for United Kingdom. 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 Tandem Group that is -16.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has Tandem Group (TND) delivered so far?
Over the past 5 years revenue at Tandem Group grew -6.7 % a year. The price currently implies free-cash-flow growth of -16.5 % 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 Tandem Group (TND) growing?
The median revenue growth in the sector is +4.8 % a year. That is the yardstick for the growth priced into Tandem Group (-16.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tandem Group (TND)?
The free-cash-flow yield on the price is 25.67 %: that much free cash flow Tandem Group produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tandem Group (TND)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tandem Group it is £2.81 per share (as of Nov 4, 2026), against a price of £1.70. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Tandem Group stock overvalued or undervalued in 2026?
As of Nov 4, 2026, TND trades below its calculated fair value: price £1.70, fair value £2.81, a gap of about +65% (undervalued). 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 TND?
No. The price is what the market pays today (£1.70); the fair value is what the company's own numbers justify (£2.81). For Tandem Group the two are £1.11 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tandem Group worth?
The market values Tandem Group at about £9.4M (market capitalisation, as of Nov 4, 2026). Per share that is £1.70; our models calculate a fair value of £2.81 per share.
What do the bullish and bearish scenarios say about TND?
Our models span a range for Tandem Group: cautious scenario £2.02, base £2.81, optimistic £3.60 per share (as of Nov 4, 2026, price £1.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TND?
Tandem Group trades at a price-to-earnings ratio of 7.1 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £2.81 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings: 7.2. Other multiples: PEG 0.0, P/B 0.4, P/S 0.3, EV/EBITDA 7.2.
What is the PEG ratio of TND?
The PEG ratio of Tandem Group is 0.03 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Tandem Group (TND)?
Balance-sheet figures for Tandem Group (as of Nov 4, 2026): return on equity 5.3%, debt of 0.12 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is TND from its 52-week high?
Tandem Group trades at £1.70, about 15% below its 52-week high of £2.00 and 6% above the low of £1.60 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of £2.81 is for.
Which stocks are comparable to Tandem Group?
From the same area (Consumer Cyclical) we also value Pop Mart International Group, Amer Sports, Inc, Hasbro, Inc, Life Time Group, 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 Tandem Group stock attractive at the current price?
The data as of Nov 4, 2026: price £1.70, calculated fair value £2.81 (+65%), Quality Score 66/100, from 24 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 TND calculated?
We run Tandem Group through 24 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 £2.81 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. Tandem Group currently trades 40% below its own fair value, and the market average says nothing about that. 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 Tandem Group (TND)?
The closing price on Nov 9, 2026 was £1.70. Our model-based fair value is £2.81, about +65% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tandem Group right now?
The price is below even our cautious bear case (£2.02). The market is more pessimistic than our downside scenario. Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Tandem Group
How large is the market capitalisation of Tandem Group (TND)?
The market capitalisation of Tandem Group is £9.4M. 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 Tandem Group (TND)?
The price-to-sales ratio of Tandem Group is 0.35 (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 Tandem Group (TND)?
Earnings per share at Tandem Group are £0.2400 (price ÷ EPS = P/E 7.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tandem Group (TND)?
The dividend yield of Tandem Group is 1.8% (payout 12.5%). 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 Tandem Group (TND)?
The net margin of Tandem Group is 4.8% (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 Tandem Group (TND)?
The return on equity (ROE) of Tandem Group is 5.3% (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 Tandem Group (TND)?
On an EBIT basis the return on assets of Tandem Group is 3.5% (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 Tandem Group (TND)?
The operating margin of Tandem Group is 1.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tandem Group (TND)?
Revenue at Tandem Group is growing +6.7% versus a year earlier (3y avg −0.7%). 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 Tandem Group (TND)?
Earnings per share at Tandem Group are growing +124% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tandem Group (TND) carry?
The net debt of Tandem Group is £1.9M (fiscal year 2025, ≈ 0.8 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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Broad data
Nov 4, 2026