CapMan Oyj (CAPMAN) Fair Value & Analysis
Financial Services · FI · Market cap €308M
Fair value as of: Jul 16, 2026
From 9 valuation models · updated 25 days ago
Share price +3.2% over the past month.
Below-average quality, and screening another 30% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€1.58). The favourable scenario is already priced in.
- Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
60‑month range €1.50 – €2.54 · fair‑value band €0.9500 – €1.58 · the €1.81 price screens above the €1.27 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
CapMan Oyj (CAPMAN) currently trades at €1.81, while our model-based Fair Value estimate is €1.27, implying the stock looks roughly 29.8% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, CapMan Oyj generated revenue of €66.3M at a net margin of 18.7%. Revenue grew 25.2% year over year. It earns a return on equity of 8.0%. Net debt stands at €45.2M. Fundamentals as of Jul 16, 2026
Our scenario range runs from €0.9500 (bear case) to €1.58 (bull case); at €1.81, the current price sits above 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 6% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at -30%, CAPMAN screens richer 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.
All 9 models by family
Widest divergence: DCF Models (€2.17) versus Asset-Based (€0.7100). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 44 · Market factors (momentum, volatility) 56
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
CapMan Oyj is a leading Nordic private assets management and investment firm with an active approach to value creation and private equity and venture capital firm specializing in growth capital investments, industry consolidation, special situations, turnaround, recapitalization, middle market buyouts, credit and mezzanine financing in unquoted companies, …
Full company description
CapMan Oyj is a leading Nordic private assets management and investment firm with an active approach to value creation and private equity and venture capital firm specializing in growth capital investments, industry consolidation, special situations, turnaround, recapitalization, middle market buyouts, credit and mezzanine financing in unquoted companies, investments in value-add and income focused real estate, transportation, infrastructure assets, real asset debt, natural capital, telecommunications infrastructure and investments in small and mid-cap companies. The firm manages typically closed-end funds that invest in companies and assets based in the Nordic countries in accordance with the fund's strategy. Within private equity firm invest between 15 million ($17.46 million) and 75 million ($87.33 million). Within private equity it seeks to take both minority and majority stakes in its investment portfolios. The funds typically exit their investments in three to six years through trade sales and IPOs. The firm also manages some open-ended funds. CapMan Oyj was founded in 1989 and is based in Helsinki, Finland with additional offices in Europe. CapMan Oyj is listed on Nasdaq Helsinki since 2001 and is a signatory of the UN Principles for Responsible Investment (PRI) since 2012.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
CapMan Oyj reported revenue of €63.1M in FY2025 versus €52.8M in FY2021, a compound +4.5%/yr. Reported net income was €13.2M in FY2025, compounding −21.3%/yr from FY2021.
of which total revenue +6.7 pp · buybacks/dilution −7.5 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
CAPMAN screens 30% overvalued. Compare with Fondul Proprietatea SA →
Peer Group
Asset Management · 971 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.
Valuation Multiples vs Asset Management median · lower = cheaper
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 0: the price sits above our fair-value range.
Insider activity: 48/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Fondul Proprietatea SA FP | $0.0420 | $0.0800 | +90% |
| BlackRock, Inc BLK | $1,136 | $465.75 | -59% |
| Blackstone Inc BX | $124.56 | $16.35 | -87% |
| Investor AB INVEB | kr 423.70 | kr 847.40 | +100% |
| Brookfield Corporation BN | C$62.45 | C$10.12 | -84% |
| KKR & Co KKR | $100.94 | $44.88 | -56% |
| AB Industrivärden INDUA | kr 532.50 | kr 1,065 | +100% |
| Jio Financial Services Limited JIOFIN | ₹242.98 | ₹40.19 | -83% |
| Hedef Holding HEDEF | 267.25 TRY | 320.98 TRY | +20% |
| Bajaj Holdings BAJAJHLDNG | ₹10,398 | ₹9,202 | -12% |
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Frequently asked questions
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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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