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Administer Oyj (ADMIN) Fair Value & Analysis

Industrials · FI · Market cap €37.5M

AO Administer Oyj ADMIN · HE
Price€2.20
Fair Value€2.44
Upside+10.9%
Quality51/100
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Mixed Growth
Loss-making · -2.2% net margin
Low debt · generates free cash flow
2.29% dividend yield
Trails peers (5/13)
Narrow moat 20/100
Evidence: Medium Range €1.59 – €3.77 Share as image

Fair value as of: Jul 19, 2026

From 13 valuation models · updated 22 days ago

Fair value updated Jul 19, 2026, revised from €2.74 to €2.44 (−10.9%) since Jul 14, 2026.

A solid business, screening 11% undervalued on our models.

What matters now

  • A fairly wide model range (€1.59 to €3.77) leaves room in how you read the outcome.
  • Our model range runs from €1.59 (bear) to €3.77 (bull), base €2.44. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 51/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

€4.53 €1.93 Fair Value €2.44 Dec 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

56‑month range €1.93 – €4.53 · fair‑value band €1.59 – €3.77 · the €2.20 price screens below the €2.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Administer Oyj (ADMIN) currently trades at €2.20, while our model-based Fair Value estimate is €2.44, implying the stock looks roughly 10.9% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Administer Oyj generated revenue of €73.3M at a net margin of -2.2%. Revenue declined 4.3% year over year. It earns a return on equity of -6.5%. Net debt stands at €7.7M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €1.59 (bear case) to €3.77 (bull case); at €2.20, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 23% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -15% fair-value upside, at 11%, ADMIN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
Growth DCF €1.12 €1.51 €1.96 80
Rev-Margin DCF €1.14 €1.81 €2.57 74
Gordon GGM €0.3100 €0.5200 €0.6700 70
All 13 models by family
DCF Models
FCF DCF €1.11 €1.56 €2.12 38
Owner Earnings €1.04 €1.46 €1.98 31
5Y Revenue Exit €1.14 €1.80 €2.63 39
5Y EBITDA Exit €2.09 €3.55 €5.25 41
10Y Revenue Exit €1.08 €1.62 €2.32 36
10Y EBITDA Exit €1.63 €2.65 €4.01 37
Dividend Discount
Gordon GGM €0.3100 €0.5200 €0.6700 70
DDM Multi-Stage €0.3100 €0.4500 €0.5600 61
Multiples
EV/EBITDA €3.26 €4.38 €5.51 54
EV/Revenue €1.24 €1.82 €2.40 43
Asset-Based
NCAV (Graham) €0.7200 €0.9700 €1.44 50
Growth DCF
Growth DCF €1.12 €1.51 €1.96 80
Rev-Margin DCF €1.14 €1.81 €2.57 74

Widest divergence: Multiples (€1.82) versus Dividend Discount (€0.4500). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €73.3M
Revenue growth (YoY) -4.3%
Net margin -2.2%
Return on equity -6.5%
Free cash flow €2.5M FY2025
Operating margin 0.5%
More key figures
EPS (TTM) €-0.1100
Dividend yield 2.3%
Net debt €7.7M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 40

Profitability 42
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 55
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Administer Oyj provides human resources and financial services in Finland and internationally. It offers Sarastia, a product for financial and payroll services, and software solutions for municipalities and cities; Silta for HR services and payroll administration; econia, a product for financial and HR administration; Administer for financial management and …

Full company description

Administer Oyj provides human resources and financial services in Finland and internationally. It offers Sarastia, a product for financial and payroll services, and software solutions for municipalities and cities; Silta for HR services and payroll administration; econia, a product for financial and HR administration; Administer for financial management and payroll administration; and emcee, a software that connects people and business processes. The company also provides work permits, payroll, employee services, establishment services, grey economy prevention, taxation, and accounting services. It serves small and medium-sized enterprises, large companies, municipalities, and other public sectors. Administer Oyj was founded in 1985 and is headquartered in Helsinki, Finland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Administer Oyj reported revenue of €73.3M in FY2025 versus €41.9M in FY2021, a compound +15.0%/yr. Reported net income was −€1.6M in FY2025.

Growth Quality 49/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€73.3M
Latest YoY
−1.9%
Avg. growth/yr (3Y) 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.
+11.6%
Avg. growth/yr (5Y) 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.
+10.9%
Avg. growth/yr (6Y) 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.
+8.4%
Revenue +15.0%/yr
FY21 €41.9M
FY22 €52.8M
FY23 €75.9M
FY24 €74.7M
FY25 €73.3M
Net income
FY21 −€1.8M
FY22 −€703K
FY23 −€3.9M
FY24 −€2.3M
FY25 −€1.6M

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Cite: Fair Value Calculator (2026). "Administer Oyj Fair Value". https://www.fairvalue-calculator.com/stock/ADMIN

Peer Group

Consulting Services · 82 stocks

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.

Quality Score 51 · Below median
Fair Value upside +11% · Above median
Return on assets -0% · Bottom 25%
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) 1% · Below median
Revenue growth -4% · Below median
Dividend yield (TTM) 2.3% · Below median
Debt / equity 0.18× · Lower than median

Valuation Multiples vs Consulting Services median · lower = cheaper

P/B 1.78× · Cheaper than median
P/S (TTM) 0.59× · Cheaper than median
P/FCF 17.4× · Pricier than 75% of peers
EV/EBITDA 9.9× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 48 · sector 20
FUTURE 0 · sector 14
PAST 0 · sector 40
HEALTH 91 · sector 89
DIVIDEND 46 · sector 49

Insider activity: 45/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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FTI Consulting, Inc FCN $156.86 $171.64 +9%
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Frequently asked questions

Is Administer Oyj (ADMIN) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €2.44 versus a price of €2.20, about +11% (undervalued).
What is the fair value of ADMIN?
Our model-based fair value for Administer Oyj is €2.44 (as of Jul 19, 2026), built from audited fundamentals. The current price is €2.20.
What is the quality score of ADMIN?
Administer Oyj has a Quality Score of 51/100. 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 revenue of Administer Oyj (ADMIN)?
Administer Oyj reported trailing-twelve-month revenue of about €73.3M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of ADMIN?
The net profit margin of Administer Oyj is about -2.2%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Administer Oyj pay a dividend?
Administer Oyj currently shows a dividend yield of about 2.27% relative to its recent price (as of Jul 19, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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