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Digital Workforce Services Oyj (DWF) Fair Value & Analysis

Technology · FI · Market cap €30.6M

DW Digital Workforce Services Oyj DWF · HE
Price€2.60
Fair Value€4.46
Upside+71.5%
Quality42/100
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Expensive Growth
Loss-making · -3.0% net margin
Low debt · negative free cash flow
Trails peers (2/11)
Narrow moat 16/100
Evidence: Medium Range €3.39 – €5.53 Share as image

Fair value as of: Jul 18, 2026

From 8 valuation models · updated 23 days ago

Share price +1.2% over the past month.

Below-average quality, screening 72% undervalued on our models.

What matters 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 (€3.39). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

€6.04 €2.16 Fair Value €4.46 Dec 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

56‑month range €2.16 – €6.04 · fair‑value band €3.39 – €5.53 · the €2.60 price screens below the €4.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Digital Workforce Services Oyj (DWF) currently trades at €2.60, while our model-based Fair Value estimate is €4.46, implying the stock looks roughly 71.5% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Technology 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, Digital Workforce Services Oyj generated revenue of €28.7M at a net margin of -3.0%. Revenue grew 9.9% year over year. It earns a return on equity of -5.9%. The balance sheet holds a net cash position of €2.1M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €3.39 (bear case) to €5.53 (bull case); at €2.60, the current price sits below 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 31% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 72%, DWF 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
ROIC Compounder €2.14 €2.52 €2.95 72
Gordon GGM €0.6100 €1.02 €1.33 70
DDM Multi-Stage €0.6100 €0.9700 €1.10 61
All 8 models by family
Earnings-Based
EPV €2.01 €2.22 €2.39 59
Dividend Discount
Gordon GGM €0.6100 €1.02 €1.33 70
DDM Multi-Stage €0.6100 €0.9700 €1.10 61
Multiples
EV/EBIT €3.92 €5.13 €6.35 53
EV/EBITDA €3.49 €4.56 €5.63 54
EV/Revenue €2.73 €3.78 €4.84 43
Asset-Based
NCAV (Graham) €0.6200 €0.8300 €1.23 50
Economic Profit
ROIC Compounder €2.14 €2.52 €2.95 72

Widest divergence: Multiples (€4.56) versus Asset-Based (€0.8300). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) €28.7M
Revenue growth (YoY) +9.9%
Net margin -3.0%
Return on equity -5.9%
Free cash flow −€3.4M FY2025
Operating margin 2.4%
More key figures
EPS (TTM) €-0.0700
Dividend yield 3.6%
EPS growth (YoY) -11.0%
Net cash €2.1M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 43 · Market factors (momentum, volatility) 42

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 76
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 68
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

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

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 31/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€28.7M
Latest YoY
+5.1%
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.
+4.0%
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.
+8.5%
Avg. growth/yr (7Y) 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.
+13.6%
Revenue +6.4%/yr
FY21 €22.4M
FY22 €25.5M
FY23 €24.9M
FY24 €27.3M
FY25 €28.7M
Net income
FY21 −€3.6M
FY22 −€3.0M
FY23 −€697K
FY24 €590K
FY25 −€851K

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Cite: Fair Value Calculator (2026). "Digital Workforce Services Oyj Fair Value". https://www.fairvalue-calculator.com/stock/DWF

Peer Group

Information Technology Services · 476 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 42 · Bottom 25%
Fair Value upside +72% · Top 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) 2% · Below median
Revenue growth 10% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.28× · Higher than median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/B 2.51× · Pricier than median
P/S (TTM) 1.23× · 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 100 · sector 21
FUTURE 50 · sector 30
PAST 0 · sector 36
HEALTH 86 · sector 97
DIVIDEND 0 · sector 37

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 18, 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 Digital Workforce Services Oyj (DWF) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €4.46 versus a price of €2.60, about +72% (undervalued).
What is the fair value of DWF?
Our model-based fair value for Digital Workforce Services Oyj is €4.46 (as of Jul 18, 2026), built from audited fundamentals. The current price is €2.60.
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 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 Jul 18, 2026).
What is the net profit margin of DWF?
The net profit margin of Digital Workforce Services Oyj is about -3.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Digital Workforce Services Oyj pay a dividend?
Digital Workforce Services Oyj currently shows a dividend yield of about 3.60% relative to its recent price (as of Jul 18, 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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