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Digital Workforce Services Oyj (DWF) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Digital Workforce Services Oyj €3.52, price €2.57, upside +37.0%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Technology · FI

DW Some data Sep 23, 2026

Digital Workforce Services Oyj

DWF · HE

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value €3.52 · Undervalued (+37%)
!Quality 42/100
!Expensive Growth (revenue 5y +8.5 %/yr)
!Loss-making · -3.0% net margin (TTM)
!Low debt · negative free cash flow
·3.50% dividend yield
!Trails peers (3/11)
!Narrow moat 16/100
!Evidence only medium, so the estimate is less certain
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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

€6.04 €2.16 Fair Value €3.52 Dec 2021 Sep 2026

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

58‑month range €2.16 – €6.04 · fair‑value band €2.79 – €4.40 · the €2.57 price screens below the €3.52 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Digital Workforce Services Oyj, together with its subsidiaries, provides business process automation services and technology solutions in Finland, Sweden, the United Kingdom, and internationally.

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Digital Workforce Services Oyj, together with its subsidiaries, provides business process automation services and technology solutions in Finland, Sweden, the United Kingdom, and internationally. The company offers design services, including business process study, process redesign for automation, and advisory services; automated delivery services, such as IA talent acquisition, implementation projects, and training and mentoring; and managed services comprising run management and Outsmart, a business process automation platform and managed service. It serves the health and social care, insurance, public sector, banking, manufacturing and logistics, and services industries. The company was incorporated in 2015 and is headquartered in Helsinki, Finland.

Stock analysis

Digital Workforce Services Oyj (DWF) currently trades at €2.57, while our model-based Fair Value estimate is €3.52, implying the stock looks roughly 27.0% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of €6.20 per share, and 5 of the 8 models we run sit above the €2.57 price.

Bear case: the Asset-Based group reads lowest at €0.8300, and 3 of the 8 models stay below the price. Evidence for this calculation is medium.

Scenario range: €2.79 (bear) to €4.40 (bull), the price of €2.57 sits below 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 42/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Digital Workforce Services Oyj reported revenue of €28.7M in FY2025 versus €22.4M in FY2021, a compound +6.4%/yr. Reported net income was −€851K in FY2025.

Key figures

Market cap €29.5M · P/S ratio 1.07 · EPS (TTM) €−0.0700 · Dividend yield 3.5% · Net margin −3.0% · Return on equity −5.9% · Return on assets (EBIT) 2.2% · Operating margin 2.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 22% below its 52-week high and 19% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at 66% fair-value upside, at 37%, DWF screens richer than that median.

Fair Value models

Bear €2.79 Fair Value €3.52 Bull €4.40
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. 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
EPV €2.49 €2.83 €3.13 74
ROIC Compounder €2.70 €3.38 €4.19 72
Gordon GGM €0.7700 €1.54 €2.33 67
All 8 models by family
Earnings-Based
EPV €2.49 €2.83 €3.13 74
Dividend Discount
Gordon GGM €0.7700 €1.54 €2.33 67
DDM Multi-Stage €0.7700 €1.33 €1.62 67
Multiples
EV/EBIT €5.13 €6.75 €8.37 66
EV/EBITDA €4.72 €6.20 €7.68 67
EV/Revenue €2.73 €3.78 €4.84 54
Asset-Based
NCAV (Graham) €0.6200 €0.8300 €1.23 54
Economic Profit
ROIC Compounder €2.70 €3.38 €4.19 72

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Quality Score breakdown

Overall quality 42/100

Of which business quality 43 · Market factors (momentum, volatility) 47

Profitability 15
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 68
Share count: buybacks or dilution?

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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. 31/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.1%
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.
+4.0%
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.
+8.5%
Start year 2020 (pandemic)
Revenue growth 7 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.
+13.6%
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.
−3.1% (2020) → 10.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Information Technology Services · 490 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside +37% · Above median
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −3% · Bottom 25%
Operating margin (TTM) 2% · Below median
Growth and dividend
Revenue growth 10% · Above median
Dividend yield (TTM) 3.5% · Above median
Balance sheet
Debt / equity 0.28× · Above median

Valuation Multiplesvs Information Technology Services median · lower = cheaper

P/B 2.38× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM) 1.17× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)83 · sector 44
FUTURE (revenue growth)50 · sector 31
PAST (return on equity)0 · sector 36
HEALTH (low debt)86 · sector 97
DIVIDEND (yield)70 · sector 43

Context: sector, industry, 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

Similar stocks

10 more Information Technology Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $231.38 $188.22 −19%
Accenture plc ACN $183.72 $305.06 +66%
Tata Consultancy Services Limited TCS ₹2,090 ₹2,993 +43%
Infosys Limited INFY ₹1,021 ₹1,690 +66%
HCL Technologies Limited HCLTECH ₹1,257 ₹1,926 +53%
Fidelity National Information Services, Inc FIS $34.96 $32.47 −7%
Cognizant Technology Solutions Corporation CTSH $58.68 $132.01 +125%
Wipro Limited WIPRO ₹164.90 ₹287.90 +75%
Capgemini SE CAP €106.30 €223.90 +111%
CDW Corporation CDW $147.43 $162.00 +10%

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Digital Workforce Services Oyj · Fair Value
€3.52 +27%Fair Value
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Cite: Fair Value Calculator (2026). "Digital Workforce Services Oyj Fair Value". https://www.fairvalue-calculator.com/stock/DWF

Frequently asked questions

Is Digital Workforce Services Oyj (DWF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €3.52 versus a price of €2.57, about +37% upside (undervalued).
What is the fair value of DWF?
Our model-based fair value for Digital Workforce Services Oyj is €3.52 (as of Sep 23, 2026), built from audited fundamentals. The current price: €2.57.
What is the quality score of DWF?
Digital Workforce Services Oyj has a Quality Score of 42/100. 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 Digital Workforce Services Oyj (DWF)?
Our model-based price target is the fair value of €3.52 (as of Sep 23, 2026) from 8 valuation models. Cautious scenario €2.79, optimistic scenario €4.40. It is a calculation from audited fundamentals, not an analyst target.
What is the Digital Workforce Services Oyj stock forecast for 2026?
Our models put fair value at €3.52, about +37% upside versus a price of €2.57 (undervalued). Cautious scenario €2.79, optimistic scenario €4.40. The calculation is refreshed regularly with new filings.
What is the revenue of Digital Workforce Services Oyj (DWF)?
Digital Workforce Services Oyj reported trailing-twelve-month revenue of about €28.7M (latest available figure, as of Sep 23, 2026).
Does Digital Workforce Services Oyj pay a dividend?
Digital Workforce Services Oyj currently shows a dividend yield of about 3.50% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Digital Workforce Services Oyj (DWF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Digital Workforce Services Oyj it is €3.52 per share (as of Sep 23, 2026), against a price of €2.57. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Digital Workforce Services Oyj stock overvalued or undervalued in 2026?
As of Sep 23, 2026, DWF trades below its calculated fair value: price €2.57, fair value €3.52, a gap of about +37% (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 DWF?
No. The price is what the market pays today (€2.57); the fair value is what the company's own numbers justify (€3.52). For Digital Workforce Services Oyj the two are €0.9500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Digital Workforce Services Oyj worth?
The market values Digital Workforce Services Oyj at about €29.5M (market capitalisation, as of Sep 23, 2026). Per share that is €2.57; our models calculate a fair value of €3.52 per share.
What do the bullish and bearish scenarios say about DWF?
Our models span a range for Digital Workforce Services Oyj: cautious scenario €2.79, base €3.52, optimistic €4.40 per share (as of Sep 23, 2026, price €2.57). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Digital Workforce Services Oyj (DWF)?
Balance-sheet figures for Digital Workforce Services Oyj (as of Sep 23, 2026): return on equity −5.9%, debt of 0.28 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is DWF from its 52-week high?
Digital Workforce Services Oyj trades at €2.57, about 22% below its 52-week high of €3.29 and 19% above the low of €2.16 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €3.52 is for.
Which stocks are comparable to Digital Workforce Services Oyj?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, 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 Digital Workforce Services Oyj stock attractive at the current price?
The data as of Sep 23, 2026: price €2.57, calculated fair value €3.52 (+37%), Quality Score 42/100, from 8 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 DWF calculated?
We run Digital Workforce Services Oyj through 8 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 €3.52, 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 14.1 % above its aggregate fair value. Digital Workforce Services Oyj currently trades 37 % 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 Digital Workforce Services Oyj (DWF)?
The closing price on Sep 23, 2026 was €2.57. Our model-based fair value is €3.52, about +37% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Digital Workforce Services Oyj right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€2.79). The market is more pessimistic than our downside scenario.

Key figures of Digital Workforce Services Oyj

How large is the market capitalisation of Digital Workforce Services Oyj (DWF)?
The market capitalisation of Digital Workforce Services Oyj is €29.5M. 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 Digital Workforce Services Oyj (DWF)?
The price-to-sales ratio of Digital Workforce Services Oyj is 1.07 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Digital Workforce Services Oyj (DWF)?
Earnings per share at Digital Workforce Services Oyj are €−0.0700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Digital Workforce Services Oyj (DWF)?
The dividend yield of Digital Workforce Services Oyj is 3.5%. 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 Digital Workforce Services Oyj (DWF)?
The net margin of Digital Workforce Services Oyj is −3.0% (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 Digital Workforce Services Oyj (DWF)?
The return on equity (ROE) of Digital Workforce Services Oyj is −5.9% (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 Digital Workforce Services Oyj (DWF)?
On an EBIT basis the return on assets of Digital Workforce Services Oyj is 2.2% (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 Digital Workforce Services Oyj (DWF)?
The operating margin of Digital Workforce Services Oyj is 2.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Digital Workforce Services Oyj (DWF)?
Revenue at Digital Workforce Services Oyj is growing +9.9% versus a year earlier (3y avg +4.0%). 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 Digital Workforce Services Oyj (DWF)?
Earnings per share at Digital Workforce Services Oyj are growing −11.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Digital Workforce Services Oyj (DWF) generate?
The free cash flow of Digital Workforce Services Oyj is −€3.4M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Digital Workforce Services Oyj (DWF) hold?
Digital Workforce Services Oyj holds more cash than debt, €2.1M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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