Kesko Oyj (0BNT) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Kesko Oyj €23.79, price €22.92, upside +3.8%, quality 63 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range €13.07 – €29.13 · fair‑value band €17.09 – €29.74 · the €22.92 price screens below the €23.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
Kesko Oyj engages in the chain operations in Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Denmark, and Poland. The company operates through Grocery Trade, Building and Technical Trade, and Car Trade divisions.
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Kesko Oyj engages in the chain operations in Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Denmark, and Poland. The company operates through Grocery Trade, Building and Technical Trade, and Car Trade divisions. The Grocery Trade division is involved in the wholesale and B2B trade of groceries, and retail of home and specialty goods under the K-retailer brand; offer online grocery services; and operates as a foodservice provider and wholesaler, as well as store retail chains under the K-Citymarket, K-Supermarket, K-Market, and Kespro. The Building and Technical Trade division engages in the wholesale, retail, and B2B trade of building and home improvement, and HEPAC and electrical products and services; and operates retail stores chain under the K-Rauta, K-Bygg, Byggmakker, and Davidsen, as well as serves technical trade customers under Onninen brand names. The Car Trade division is involved in the import, market, and retail of Volkswagen, Audi, SEAT, CUPRA, Bentley, and Porsche passenger cars, as well as Volkswagen commercial vehicles under K-Auto brand name; purchase and retail of used cars; operation of leasing business for private and corporate customers; and other services, including repair and maintenance, as well as sale of spare parts and accessories; charging network for electric vehicles under the K- Lataus name; and sports trade comprising Intersport and budget sport chains. Kesko Oyj was founded in 1940 and is headquartered in Helsinki, Finland.
Stock analysis
Kesko Oyj (0BNT) currently trades at €22.92, while our model-based Fair Value estimate is €23.79, so the stock looks roughly fairly valued today (gap 3.7%).
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Valuation
Bull case: the DCF Models group reads highest at a median of €27.12 per share, and 12 of the 23 models we run sit above the €22.92 price.
Bear case: the Asset-Based group reads lowest at €3.66, and 11 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: €17.09 (bear) to €29.74 (bull), the price of €22.92 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 63/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Kesko Oyj reported revenue of €11.3B in FY2021 versus €10.5B in FY2017, a compound +1.9%/yr. Reported net income was €577M in FY2021, compounding +22.4%/yr from FY2017.
Key figures
Market cap €10.6B · P/S ratio 0.83 · Dividend yield 3.9% · Net margin 5.1% · Return on equity 16.1% · Return on assets (EBIT) 8.1% · Operating margin 5.5% · Revenue (TTM) €12.9B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 8% fair-value upside, at 4%, 0BNT screens richer than that median.
Fair Value models
Bear €17.09Fair Value €23.79Bull €29.74
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.9%
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.
+2.9%
’17
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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.
3.2% (2017) → 6.9% (2021)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
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.Grocery Stores · 71 stocks
Beats the industry median on 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Above median
Fair Value upside+11.5% · Above median
Profitability
Return on equity (TTM)16.1% · Above median
Return on assets4.3% · Above median
Net margin (TTM)3.3% · Above median
Operating margin (TTM)5.5% · Above median
Growth and dividend
Revenue growth6.0% · Above median
Dividend yield (TTM)3.9% · Above median
Balance sheet
Debt / equity0.08× · Below median
Valuation Multiplesvs Grocery Stores median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kesko Oyj Fair Value". https://www.fairvalue-calculator.com/stock/0BNT
Frequently asked questions
Is Kesko Oyj (0BNT) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €23.79 versus a price of €22.92, about +4% upside (fairly valued).
What is the fair value of 0BNT?
Our model-based fair value for Kesko Oyj is €23.79 (as of Sep 23, 2026), built from audited fundamentals. The current price: €22.92.
What is the quality score of 0BNT?
Kesko Oyj has a Quality Score of 63/100. 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 Kesko Oyj (0BNT)?
Our model-based price target is the fair value of €23.79 (as of Sep 23, 2026) from 23 valuation models. Cautious scenario €17.09, optimistic scenario €29.74. It is a calculation from audited fundamentals, not an analyst target.
What is the Kesko Oyj stock forecast for 2026?
Our models put fair value at €23.79, about +4% upside versus a price of €22.92 (fairly valued). Cautious scenario €17.09, optimistic scenario €29.74. The calculation is refreshed regularly with new filings.
What is the revenue of Kesko Oyj (0BNT)?
Kesko Oyj reported trailing-twelve-month revenue of about €12.9B (latest available figure, as of Sep 23, 2026).
Does Kesko Oyj pay a dividend?
Kesko Oyj currently shows a dividend yield of about 3.93% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Kesko Oyj (0BNT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kesko Oyj it is €23.79 per share (as of Sep 23, 2026), against a price of €22.92. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Kesko Oyj stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 0BNT trades below its calculated fair value: price €22.92, fair value €23.79, a gap of about +4% (fairly valued). 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 0BNT?
No. The price is what the market pays today (€22.92); the fair value is what the company's own numbers justify (€23.79). For Kesko Oyj the two are €0.8700 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kesko Oyj worth?
The market values Kesko Oyj at about €10.6B (market capitalisation, as of Sep 23, 2026). Per share that is €22.92; our models calculate a fair value of €23.79 per share.
What do the bullish and bearish scenarios say about 0BNT?
Our models span a range for Kesko Oyj: cautious scenario €17.09, base €23.79, optimistic €29.74 per share (as of Sep 23, 2026, price €22.92). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kesko Oyj (0BNT)?
Balance-sheet figures for Kesko Oyj (as of Sep 23, 2026): return on equity 16.1%, debt of 0.08 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 0BNT from its 52-week high?
Kesko Oyj trades at €22.92, about 1% below its 52-week high of €23.21 and 34% above the low of €17.05 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €23.79 is for.
Which stocks are comparable to Kesko Oyj?
From the same area (Consumer Defensive) we also value Loblaw Companies Limited, The Kroger Co, Woolworths Group, Koninklijke Ahold Delhaize N.V, 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 Kesko Oyj stock attractive at the current price?
The data as of Sep 23, 2026: price €22.92, calculated fair value €23.79 (+4%), Quality Score 63/100, from 23 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 0BNT calculated?
We run Kesko Oyj through 23 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 €23.79, 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 14.5 % above its aggregate fair value. Kesko Oyj currently trades 4 % 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 Kesko Oyj (0BNT)?
The closing price on Oct 2, 2026 was €22.92. Our model-based fair value is €23.79, about +4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kesko Oyj right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Kesko Oyj
How large is the market capitalisation of Kesko Oyj (0BNT)?
The market capitalisation of Kesko Oyj is €10.6B. 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 Kesko Oyj (0BNT)?
The price-to-sales ratio of Kesko Oyj is 0.83 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Kesko Oyj (0BNT)?
The dividend yield of Kesko Oyj is 3.9%. 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 Kesko Oyj (0BNT)?
The net margin of Kesko Oyj is 5.1% (fiscal year 2021). 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 Kesko Oyj (0BNT)?
The return on equity (ROE) of Kesko Oyj is 16.1% (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 Kesko Oyj (0BNT)?
On an EBIT basis the return on assets of Kesko Oyj is 8.1% (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 Kesko Oyj (0BNT)?
The operating margin of Kesko Oyj is 5.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kesko Oyj (0BNT)?
Revenue at Kesko Oyj is growing +6.0% versus a year earlier (3y avg +2.9%). 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 Kesko Oyj (0BNT)?
Earnings per share at Kesko Oyj are growing +10.3% versus a year earlier. How much earnings per share grew versus a year earlier.
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