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Adyen N.V (1N8) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Adyen N.V €957, price €861, upside +11.1%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Broad data
Oct 3, 2026
Adyen N.V
1N8 · XETRAUndervaluedThe stock appears undervalued with acceptable quality.
✓Fair value €956.70 · Undervalued (+11.1%)
✓Quality 66/100
✓Healthy Growth (revenue 5y +31.3 %/yr)
✓Highly profitable · 44.7% net margin (TTM)
✓generates free cash flow
✓Wide moat 82/100
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range €629.90 – €2,754 · fair‑value band €711.83 – €1,408 · the €861.00 price screens below the €956.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
Company profile
Adyen N.V. operates a payments platform in Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America. Its platform integrates payments stack, including gateway, risk management, processing, acquiring, and settlement services. The company offers a back-end infrastructure for authorizing.
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Adyen N.V. operates a payments platform in Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America. Its platform integrates payments stack, including gateway, risk management, processing, acquiring, and settlement services. The company offers a back-end infrastructure for authorizing. It accepts payment through online, in-person payments, cross channel, and Adyen for Platforms. The company also provides optimization services, including Adyen Uplift, protect, authenticate and tokenize. In addition, it offers financial products, such as accounts, capital, issuing, and payouts. It serves digital, mobility, SaaS platforms, retail, food and beverages, subscription, and travel and hospitality businesses. The company was incorporated in 2006 and is based in Amsterdam, the Netherlands.
Stock analysis
Adyen N.V (1N8) currently trades at €861.00, while our model-based Fair Value estimate is €956.70, implying the stock looks roughly 10.0% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €1,195 per share, and 13 of the 24 models we run sit above the €861.00 price.
Bear case: the Asset-Based group reads lowest at €112.29, and 11 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: €711.83 (bear) to €1,408 (bull), the price of €861.00 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 66/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Adyen N.V reported revenue of €2.7B in FY2025 versus €1.0B in FY2021, a compound +27.8%/yr. Reported net income was €1.1B in FY2025, compounding +22.6%/yr from FY2021.
Key figures
Market cap €27.2B · P/E ratio 25.6 · P/S ratio 10.2 · EPS (TTM) €33.60 · Net margin 39.8% · Return on equity 22.3% · Return on assets (EBIT) 9.2% · Operating margin 49.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −23% fair-value upside, at 11%, 1N8 screens cheaper than that median.
Fair Value models
Bear €711.83
Fair Value €956.70
Bull €1,408
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€25.41 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.
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.
Highest evidence
FCF DCF
€827.98
€1,106
€1,993
76
Growth DCF
€799.12
€1,192
€1,986
74
5Y EBITDA Exit
€743.80
€1,042
€1,626
72
All 24 models by family
DCF Models
FCF DCF
€827.98
€1,106
€1,993
76
Owner Earnings
€878.89
€1,563
€3,000
70
5Y Revenue Exit
€619.32
€790.21
€1,145
70
5Y EBITDA Exit
€743.80
€1,042
€1,626
72
5Y P/E Exit
€895.15
€1,603
€2,572
66
10Y Revenue Exit
€676.77
€1,003
€1,188
66
10Y EBITDA Exit
€775.69
€1,271
€2,124
64
10Y P/E Exit
€886.12
€1,597
€2,777
59
Earnings-Based
Graham-Dodd
€229.10
€1,598
€2,242
63
Lynch FV
€657.76
€939.66
€1,222
61
PEG = 1.0
€657.76
€939.66
€1,222
57
EPV
€577.46
€616.64
€650.92
70
Multiples
P/E Multiple
€555.91
€741.22
€926.52
63
P/S Multiple
€222.47
€296.62
€370.78
58
P/B Multiple
€429.57
€572.76
€715.95
55
EV/EBIT
€764.70
€905.48
€1,046
63
EV/EBITDA
€697.89
€816.40
€934.90
64
EV/Revenue
€520.35
€596.62
€672.90
52
Asset-Based
NCAV (Graham)
€83.80
€112.29
€167.60
51
Growth DCF
Growth DCF
€799.12
€1,192
€1,986
74
Rev-Margin DCF
€628.41
€855.20
€1,295
70
Economic Profit
Residual Income
€222.19
€296.77
€542.06
67
ROIC Compounder
€577.46
€616.64
€650.92
70
Growth Earnings
Growth-Adj P/E
€836.36
€1,195
€1,553
67
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Set up alert →Quality Score breakdown
Overall quality
66/100
Of which business quality 66 · Market factors (momentum, volatility) 19
Profitability
54
Margins and returns on capital today
Quality Growth
43
Are margins and returns improving?
Cashflow
80
Earnings quality: real cash, not paper profit
Fin. Strength
92
Balance sheet, leverage, solvency risk
Investment
33
Disciplined investing over empire-building
Low Volatility
14
Calm price path (market factor)
Momentum
31
Price trend over the last 3–12 months (market factor)
52W Momentum
5
Distance to the 52-week high (market factor)
Net Issuance
73
Share count: buybacks or dilution?
Revenue & earnings trend
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.
100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+20.1%
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.
+26.2%
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.
+31.3%
Start year 2020 (pandemic). Over 10 years: +23.2% a year
Revenue growth 11 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.
+29.6%
’14
’15
’16
’17
’18
’19
’20
’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. Basis: EBIT basis.
≈ +23.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.6%
Dividend (yield on the price)0.0%
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.31.6% vs 40.3%, 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.55% → 42%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 50% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
+10.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+14.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +8.4% a year for the price and +12.4% for the forecasts.
Forecast 2026 (sales)+5.9%
Forecast 2027 (sales)+20.8%
Projected 2028 (sales)+18.5%
Projected 2029 (sales)+16.1%
Projected 2030 (sales)+13.8%
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: German Stocks
- Valuation of the Germany market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
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Frequently asked questions
Is Adyen N.V (1N8) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of €956.70 versus a price of €861.00, about +11% upside (undervalued).
What is the fair value of 1N8?
Our model-based fair value for Adyen N.V is €956.70 (as of Oct 3, 2026), built from audited fundamentals. The current price: €861.00.
What is the quality score of 1N8?
Adyen N.V 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 Adyen N.V (1N8)?
Our model-based price target is the fair value of €956.70 (as of Oct 3, 2026) from 24 valuation models. Cautious scenario €711.83, optimistic scenario €1,408. It is a calculation from audited fundamentals, not an analyst target.
What is the Adyen N.V stock forecast for 2026?
Our models put fair value at €956.70, about +11% upside versus a price of €861.00 (undervalued). Cautious scenario €711.83, optimistic scenario €1,408. The calculation is refreshed regularly with new filings.
What is the revenue of Adyen N.V (1N8)?
Adyen N.V reported trailing-twelve-month revenue of about €2.4B (latest available figure, as of Oct 3, 2026).
What growth is priced into Adyen N.V (1N8)?
For today's price to be fair in a discounted-cash-flow model, Adyen N.V would have to grow free cash flow by +10.7 % 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 +31.3 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of 1N8 use?
Our models discount Adyen N.V at 11.0 %: a base by market capitalisation (large), damped by beta 1.87, country premium for Germany. 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 Adyen N.V that is +10.7 % 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 Adyen N.V (1N8) delivered so far?
Over the past 5 years revenue at Adyen N.V grew +31.3 % a year. The price currently implies +10.7 % 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 Adyen N.V (1N8) growing?
The median revenue growth in the sector is +15.0 % a year. That is the yardstick for the growth priced into Adyen N.V (+10.7 % 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 Adyen N.V (1N8)?
The free-cash-flow yield on the price is 3.32 %: that much free cash flow Adyen N.V 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 Adyen N.V (1N8)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Adyen N.V it is €956.70 per share (as of Oct 3, 2026), against a price of €861.00. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Adyen N.V stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 1N8 trades below its calculated fair value: price €861.00, fair value €956.70, a gap of about +11% (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 1N8?
No. The price is what the market pays today (€861.00); the fair value is what the company's own numbers justify (€956.70). For Adyen N.V the two are €95.70 per share apart. That gap is exactly why we show both numbers side by side.
How much is Adyen N.V worth?
The market values Adyen N.V at about €27.2B (market capitalisation, as of Oct 3, 2026). Per share that is €861.00; our models calculate a fair value of €956.70 per share.
What do the bullish and bearish scenarios say about 1N8?
Our models span a range for Adyen N.V: cautious scenario €711.83, base €956.70, optimistic €1,408 per share (as of Oct 3, 2026, price €861.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 1N8 from its 52-week high?
Adyen N.V trades at €861.00, about 43% below its 52-week high of €1,517 and 9% above the low of €786.80 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €956.70 is for.
Which stocks are comparable to Adyen N.V?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, CrowdStrike Holdings, 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 Adyen N.V stock attractive at the current price?
The data as of Oct 3, 2026: price €861.00, calculated fair value €956.70 (+11%), 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 1N8 calculated?
We run Adyen N.V through 24 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 €956.70, 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. Adyen N.V currently trades 10 % 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 Adyen N.V (1N8)?
The closing price on Oct 2, 2026 was €861.00. Our model-based fair value is €956.70, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Adyen N.V right now?
A fairly wide model range (€711.83 to €1,408) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Adyen N.V (1N8) come from?
Earnings per share at Adyen N.V grew +37.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +21.2 %, EBIT margin +15.9 %, tax rate −0.8 %, residual (interest, one-offs) −1.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Adyen N.V
How large is the market capitalisation of Adyen N.V (1N8)?
The market capitalisation of Adyen N.V is €27.2B. 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/E ratio of Adyen N.V (1N8)?
The price-to-earnings ratio of Adyen N.V is 25.6. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Adyen N.V (1N8)?
The price-to-sales ratio of Adyen N.V is 10.2 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Adyen N.V (1N8)?
Earnings per share at Adyen N.V are €33.60 (price ÷ EPS = P/E 25.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Adyen N.V (1N8)?
The net margin of Adyen N.V is 39.8% (fiscal year 2025). 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 Adyen N.V (1N8)?
The return on equity (ROE) of Adyen N.V is 22.3% (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 Adyen N.V (1N8)?
On an EBIT basis the return on assets of Adyen N.V is 9.2% (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 Adyen N.V (1N8)?
The operating margin of Adyen N.V is 49.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Adyen N.V (1N8)?
Revenue at Adyen N.V is growing +16.9% versus a year earlier (3y avg +26.2%). 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 Adyen N.V (1N8)?
Earnings per share at Adyen N.V are growing +11.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Adyen N.V (1N8) hold?
Adyen N.V holds more cash than debt, €10.4B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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