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Columbus A/S (COLUM) Fair Value & Analysis

Technology · DK · Market cap 1.3B DKK

CA Columbus A/S COLUM · CO
Pricekr 9.94
Fair Valuekr 3.37
Upside-66.1%
Quality58/100
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Weak Growth
Loss-making · -0.1% net margin
Low debt · generates free cash flow
1.25% dividend yield
Trails peers (5/15)
Narrow moat 28/100
Evidence: High Range kr 2.53 – kr 4.21 Share as image

Fair value as of: Jul 17, 2026

From 25 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from kr 3.36 to kr 3.37 (+0.3%) since Jul 15, 2026. Share price +0.2% over the past month.

A solid business, but screening 66% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 4.21). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 12.70 kr 5.50 Fair Value kr 3.37 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range kr 5.50 – kr 12.70 · fair‑value band kr 2.53 – kr 4.21 · the kr 9.94 price screens above the kr 3.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Columbus A/S (COLUM) currently trades at kr 9.94, while our model-based Fair Value estimate is kr 3.37, implying the stock looks roughly 66.1% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Technology 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, Columbus A/S generated revenue of 1.6B DKK at a net margin of -0.1%. Revenue declined 3.7% year over year. It earns a return on equity of 0.8%. Net debt stands at 144M DKK. Fundamentals as of Jul 17, 2026

Our scenario range runs from kr 2.53 (bear case) to kr 4.21 (bull case); at kr 9.94, 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 8% below its 52-week high and 9% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at -66%, COLUM 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.

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 kr 5.08 kr 6.67 kr 8.55 80
Residual Income kr 4.01 kr 3.87 kr 3.05 76
Rev-Margin DCF kr 4.57 kr 6.78 kr 9.16 74
All 25 models by family
DCF Models
FCF DCF kr 4.99 kr 6.74 kr 8.89 38
Owner Earnings kr 4.93 kr 6.65 kr 8.78 31
5Y Revenue Exit kr 4.57 kr 6.71 kr 9.31 39
5Y EBITDA Exit kr 6.70 kr 10.48 kr 14.69 41
5Y P/E Exit kr 3.33 kr 4.50 kr 5.64 38
10Y Revenue Exit kr 4.59 kr 6.42 kr 8.62 36
10Y EBITDA Exit kr 5.92 kr 8.74 kr 12.20 37
10Y P/E Exit kr 3.99 kr 5.05 kr 6.18 35
Earnings-Based
Graham-Dodd kr 1.15 kr 2.66 kr 3.42 54
PEG = 1.0 kr 0.4500 kr 0.6500 kr 0.8400 46
EPV kr 2.43 kr 2.77 kr 3.05 59
Dividend Discount
Gordon GGM kr 0.9900 kr 1.52 kr 2.04 70
DDM Multi-Stage kr 0.9900 kr 1.37 kr 1.75 61
Multiples
P/E Multiple kr 2.53 kr 3.37 kr 4.21 63
P/S Multiple kr 2.15 kr 2.87 kr 3.58 58
P/B Multiple kr 2.15 kr 2.87 kr 3.58 55
EV/EBIT kr 6.82 kr 9.12 kr 11.42 53
EV/EBITDA kr 9.09 kr 12.14 kr 15.19 54
EV/Revenue kr 4.58 kr 6.57 kr 8.56 43
Asset-Based
NCAV (Graham) kr 2.93 kr 3.92 kr 5.85 50
Growth DCF
Growth DCF kr 5.08 kr 6.67 kr 8.55 80
Rev-Margin DCF kr 4.57 kr 6.78 kr 9.16 74
Economic Profit
Residual Income kr 4.01 kr 3.87 kr 3.05 76
ROIC Compounder kr 2.43 kr 2.77 kr 3.05 72
Growth Earnings
Growth-Adj P/E kr 1.91 kr 2.73 kr 3.55 68

Widest divergence: Growth DCF (kr 6.67) versus Dividend Discount (kr 1.37). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.6B DKK
Revenue growth (YoY) -3.7%
Net margin -0.1%
Return on equity 0.8%
Free cash flow 72.9M DKK FY2025
P/E ratio 166.3
More key figures
Operating margin 2.9%
EPS (TTM) kr 0.0600
Dividend yield 1.2%
EPS growth (YoY) -63.5%
Net debt 144M DKK FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 59 · Market factors (momentum, volatility) 60

Profitability 38
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 82
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

Columbus A/S, a digital advisory and IT services consultancy company, provides digital transformation solutions for the manufacturing, retail and distribution, food and beverage, and life science industries.

Full company description

Columbus A/S, a digital advisory and IT services consultancy company, provides digital transformation solutions for the manufacturing, retail and distribution, food and beverage, and life science industries. The company offers cloud services; data and AI solutions; sales, marketing, and customer and field services; digital commerce; managed services; intelligent business process automation and apps; finance and supply chain; enterprise information management; cybersecurity; strategy and growth; transformation strategy; and sustainability solutions. It also provides end-to-end data solutions, including data strategy development, modern data platform design, and artificial intelligence (AI), machine learning (ML), and Generative AI (GenAI) solutions; and enterprise resource planning (ERP) services and spanning services for supply chain, production, finance, project control, human resource and robotics and automation services, Microsoft Copilot and AI Modern Work offerings. The company operates in Denmark, Chile, Czech Republic, Germany, India, Norway, Poland, Sweden, United Kingdom, the United States. Columbus A/S was formerly known as Columbus IT Partner A/S and changed its name to Columbus A/S in April 2012. The company was incorporated in 1989 and is headquartered in Ballerup, Denmark.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Columbus A/S reported revenue of kr 1.6B in FY2025 versus kr 1.5B in FY2021, a compound +1.6%/yr. Reported net income was kr 21.5M in FY2025, compounding −23.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.6B DKK
Latest YoY
−5.0%
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.
+4.3%
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.
−1.0%
Avg. growth/yr (25Y) 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.
+4.2%
Revenue +1.6%/yr
FY21 kr 1.5B
FY22 kr 1.4B
FY23 kr 1.5B
FY24 kr 1.7B
FY25 kr 1.6B
Net income −23.0%/yr
FY21 kr 61.1M
FY22 kr 29.9M
FY23 kr 26.9M
FY24 kr 54.4M
FY25 kr 21.5M
Character of growth · EPS growth decomposed (2014-2025) −8.1 % p.a.
Revenue per share +3.3 pp

of which total revenue +4.6 pp · buybacks/dilution −1.3 pp

EBIT margin −6.3 pp
Tax rate −1.2 pp
Residual (interest, one-offs) −3.8 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).

COLUM screens 66% overvalued. Compare with International Business Machines Corporation →

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Cite: Fair Value Calculator (2026). "Columbus A/S Fair Value". https://www.fairvalue-calculator.com/stock/COLUM

Peer Group

Information Technology Services · 475 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 58 · Above median
Fair Value upside −66% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 2% · Below median
Net margin (TTM) -0% · Bottom 25%
Operating margin (TTM) 3% · Below median
Revenue growth -4% · Bottom 25%
Dividend yield (TTM) 1.3% · Below median
Debt / equity 0.10× · Higher than median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 165.3× · Pricier than 75% of peers
P/B 0.26× · Cheaper than 75% of peers
P/S (TTM) 0.13× · Cheaper than 75% of peers
P/FCF 2.7× · Cheaper than median
EV/EBITDA 3.9× · Cheaper than 75% of peers
PEG 1.73× · Pricier 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 0 · sector 21
FUTURE 0 · sector 31
PAST 3 · sector 37
HEALTH 95 · sector 97
DIVIDEND 25 · sector 37

VALUE 0: the price sits above our fair-value range.

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.

Similar stocks

10 more Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is Columbus A/S (COLUM) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of kr 3.37 versus a price of kr 9.94, about −66% (overvalued).
What is the fair value of COLUM?
Our model-based fair value for Columbus A/S is kr 3.37 (as of Jul 17, 2026), built from audited fundamentals. The current price is kr 9.94.
What is the quality score of COLUM?
Columbus A/S has a Quality Score of 58/100. 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 Columbus A/S (COLUM)?
Columbus A/S reported trailing-twelve-month revenue of about 1.6B DKK (latest available figure, as of Jul 17, 2026).
What is the net profit margin of COLUM?
The net profit margin of Columbus A/S is about -0.1%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Columbus A/S pay a dividend?
Columbus A/S currently shows a dividend yield of about 1.24% relative to its recent price (as of Jul 17, 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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