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EcoUp Oyj (ECOUP) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of EcoUp Oyj stock €0.33, price €0.96, that is 65.5% below the price, quality 30 out of 100. Rating: strongly overvalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials FI

EO EcoUp Oyj logo Thin data Nov 4, 2026

EcoUp Oyj

ECOUP · HE
Very expensive, weak quality

Our calculation puts a fair price 65% below what the stock costs today.

Low debt
Revenue last quarter 15% below a year ago.
Fair value €0.3315 · Strongly overvalued
Quality 30/100
Weak Growth (revenue 3y −6.3 %/yr in EUR)
Loss-making · -13.0% net margin (TTM)
Negative free cash flow
Trails peers (3/11)
Narrow moat 8/100 · thin data
Thin data
⚠ Dilution
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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

€7.16 €0.9000 Fair Value €0.3315 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.

How to read this chart

60‑month range €0.9000 – €7.16 · fair‑value band €0.1530 – €0.5100 · the €0.9600 price screens above the €0.3315 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.

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Company profile

EcoUp Oyj, together with its subsidiaries, develops, manufactures, and sells construction products and raw materials in Finland, EU Countries, and internationally.

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The company offers thermal insulation products for new construction and renovation projects, as well as for additional insulation; air barrier products; and asphalt fiber products.

It also provides WasteX-technologies for processing demolition waste and industrial side streams, such as slag, into raw materials; material services; low-carbon end products; technology for grinding slag; and design services. EcoUp Oyj was incorporated in 1979 and is based in Oulu, Finland.

Stock analysis

EcoUp Oyj (ECOUP) currently trades at €0.9600, while our model-based Fair Value estimate is €0.3315, 65% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: €0.1530 (bear) to €0.5100 (bull), the price of €0.9600 sits above 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 30/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

EcoUp Oyj reported revenue of €29.3M in FY2025 versus €31.4M in FY2021, a compound −1.7%/yr. Reported net income was −€3.0M in FY2025.

Key figures

Market cap €10.7M Micro · P/S ratio 0.40 · EPS (TTM) €−0.3500 · Net margin −13.0% · Return on equity −24.4% · Return on assets (EBIT) −3.8% (5-year average) · Operating margin −21.8% · Revenue (TTM) €27.4M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (low confidence).

What moves the price

The share trades about 36% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −25% fair-value upside, at −65%, ECOUP screens richer than that median.

Fair Value models

Bear €0.1530 Fair Value €0.3315 Bull €0.5100
Price €0.9600 · Downside -65.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = 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.
Best data coverage
EV/EBITDA €0.1800 €0.3900 €0.6000 63
NCAV (Graham) €0.3600 €0.4800 €0.7100 54
All 2 models by family
Multiples
EV/EBITDA €0.1800 €0.3900 €0.6000 63
Asset-Based
NCAV (Graham) €0.3600 €0.4800 €0.7100 54

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 30/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 37
How much profit the company makes from its sales and capital
Quality Growth 27
Are margins and returns getting better?
Cashflow 2
Do the profits arrive as real cash?
Financial strength 45
Debt, balance sheet and risk of trouble
Investment 83
Does it invest with discipline instead of growing at any price?
Low Volatility 55
How calm the share price moves, does not count
Price momentum 25
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 5
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

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. 10/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−4.4%
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.
−6.3%
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.
+2.3%
Start year 2020 (pandemic)
Revenue growth 6 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.
+1.1%
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.
8.1% (2020) → −10.3% (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

ECOUP screens overvalued: fair value 65% below the price. Compare with Waste Management, Inc →

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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.Waste Management · 155 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 30 · Bottom 25%
Fair Value upside −65.5% · Bottom 25%
Profitability
Return on assets −11.3% · Bottom 25%
Net margin (12 months) −13.0% · Bottom 25%
Operating margin (12 months) −21.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −14.6% · Bottom 25%
Balance sheet
Debt / equity 0.33× · Below median

Valuation Multiplesvs Waste Management median · lower = cheaper

P/B 0.75× · Cheapest 25%
P/S (12 months) 0.39× · Cheapest 25%
EV/EBITDA 21.3× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 35
FUTURE (revenue growth)0 · sector 37
PAST (return on equity)0 · sector 23
HEALTH (low debt)84 · sector 83
DIVIDEND (yield)0 · sector 52

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

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 Waste Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Waste Management, Inc WM $236.26 $259.89 +10% vs ECOUP
Waste Connections, Inc WCN $189.07 $199.18 +5% vs ECOUP
Fomento de Construcciones y Contratas, S.A FCC €10.42 €9.99 −4% vs ECOUP
GEM Co 002340 ¥5.81 ¥5.27 −9% vs ECOUP
GFL Environmental Inc GFL $46.32 $34.54 −25% vs ECOUP
Veolia Environnement SA VIE €33.78 €20.39 −40% vs ECOUP
Clean Harbors, Inc CLH $284.10 $155.54 −45% vs ECOUP
Republic Services, Inc RSG $246.85 $129.29 −48% vs ECOUP
Cleanaway Waste Management Limited CWY A$3.01 A$1.25 −58% vs ECOUP
Casella Waste Systems, Inc CWST $98.21 $14.30 −85% vs ECOUP

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EcoUp Oyj: fair value per Fair Value Calculator

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

Frequently asked questions

Is EcoUp Oyj (ECOUP) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of €0.3315 versus a price of €0.9600, about 65% lower (overvalued).
What is the fair value of ECOUP?
Our model-based fair value for EcoUp Oyj is €0.3315 (as of Nov 4, 2026), built from audited fundamentals. The current price: €0.9600.
What is the quality score of ECOUP?
EcoUp Oyj has a Quality Score of 30/100. 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 EcoUp Oyj (ECOUP)?
Our model-based price target is the fair value of €0.3315 (as of Nov 4, 2026) from 2 valuation models. Cautious scenario €0.1530, optimistic scenario €0.5100. It is a calculation from audited fundamentals, not an analyst target.
What is the EcoUp Oyj stock forecast for 2026?
Our models put fair value at €0.3315, about 65% lower versus a price of €0.9600 (overvalued). Cautious scenario €0.1530, optimistic scenario €0.5100. The calculation is refreshed regularly with new filings.
What is the revenue of EcoUp Oyj (ECOUP)?
EcoUp Oyj reported trailing-twelve-month revenue of about €27.4M (latest available figure, as of Nov 4, 2026).
What is the intrinsic value of EcoUp Oyj (ECOUP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EcoUp Oyj it is €0.3315 per share (as of Nov 4, 2026), against a price of €0.9600. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is EcoUp Oyj stock overvalued or undervalued in 2026?
As of Nov 4, 2026, ECOUP trades above its calculated fair value: price €0.9600, fair value €0.3315, a gap of about −65% (overvalued). 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 ECOUP?
No. The price is what the market pays today (€0.9600); the fair value is what the company's own numbers justify (€0.3315). For EcoUp Oyj the two are €0.6285 per share apart. That gap is exactly why we show both numbers side by side.
How much is EcoUp Oyj worth?
The market values EcoUp Oyj at about €10.7M (market capitalisation, as of Nov 4, 2026). Per share that is €0.9600; our models calculate a fair value of €0.3315 per share.
What do the bullish and bearish scenarios say about ECOUP?
Our models span a range for EcoUp Oyj: cautious scenario €0.1530, base €0.3315, optimistic €0.5100 per share (as of Nov 4, 2026, price €0.9600). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of EcoUp Oyj (ECOUP)?
Balance-sheet figures for EcoUp Oyj (as of Nov 4, 2026): return on equity −24.4%, debt of 0.33 per unit of equity. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is ECOUP from its 52-week high?
EcoUp Oyj trades at €0.9600, about 36% below its 52-week high of €1.49 and 7% above the low of €0.9000 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €0.3315 is for.
Which stocks are comparable to EcoUp Oyj?
From the same area (Industrials) we also value Waste Management, Inc, Republic Services, Inc, Waste Connections, Inc, Veolia Environnement SA, 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 EcoUp Oyj stock attractive at the current price?
The data as of Nov 4, 2026: price €0.9600, calculated fair value €0.3315 (−65%), Quality Score 30/100, from 2 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 ECOUP calculated?
We run EcoUp Oyj through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of €0.3315 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. EcoUp Oyj itself currently trades above fair value. 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 EcoUp Oyj (ECOUP)?
The closing price on Nov 6, 2026 was €0.9600. Our model-based fair value is €0.3315, about 65% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EcoUp Oyj right now?
The price sits above even our optimistic bull case (€0.5100). The favourable scenario is already priced in. Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (€0.1530 to €0.5100). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of EcoUp Oyj

How large is the market capitalisation of EcoUp Oyj (ECOUP)?
The market capitalisation of EcoUp Oyj is €10.7M. 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 EcoUp Oyj (ECOUP)?
The price-to-sales ratio of EcoUp Oyj is 0.40 (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 EcoUp Oyj (ECOUP)?
Earnings per share at EcoUp Oyj are €−0.3500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of EcoUp Oyj (ECOUP)?
The net margin of EcoUp Oyj is −13.0% (last twelve months). 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 EcoUp Oyj (ECOUP)?
The return on equity (ROE) of EcoUp Oyj is −24.4% (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 EcoUp Oyj (ECOUP)?
On an EBIT basis the return on assets of EcoUp Oyj is −3.8% (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 EcoUp Oyj (ECOUP)?
The operating margin of EcoUp Oyj is −21.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EcoUp Oyj (ECOUP)?
Revenue at EcoUp Oyj is growing −14.6% versus a year earlier (3y avg −6.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does EcoUp Oyj (ECOUP) generate?
The free cash flow of EcoUp Oyj is −€4.1M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does EcoUp Oyj (ECOUP) carry?
The net debt of EcoUp Oyj is €4.9M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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