Eniro AB (ENRO) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Eniro AB SEK 65.18, price SEK 28.75, upside +126.8%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Eniro AB for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range kr 16.27 – kr 72.63 · fair‑value band kr 51.17 – kr 79.19 · the kr 28.75 price screens below the kr 65.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
Follow Eniro in your weekly email
Every Wednesday you see whether Eniro is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Eniro Group AB (publ) operates as a software-as-a-service company in Sweden, Norway, Denmark, and Finland. The company offers a range of digital marketing services to micro, small and medium-sized enterprises through partnership, as well as through search engines, such as eniro.se, gulesider.no, krak.dk, degulesider.dk, and 0100100.fi.
Show more
Eniro Group AB (publ) operates as a software-as-a-service company in Sweden, Norway, Denmark, and Finland. The company offers a range of digital marketing services to micro, small and medium-sized enterprises through partnership, as well as through search engines, such as eniro.se, gulesider.no, krak.dk, degulesider.dk, and 0100100.fi. It also provides customer service and answering services to companies, as well as directory assistance services. In addition, the company operates mobile apps, such as Eniro's Online Search app, Eniro Navigation, and Eniro På Sjön. The company was formerly known as Eniro AB (publ) and changed its name to Eniro Group AB (publ) in July 2021. Eniro Group AB (publ) was incorporated in 2000 and is headquartered in Solna, Sweden.
Stock analysis
Eniro AB (ENRO) currently trades at kr 28.75, while our model-based Fair Value estimate is kr 65.18, implying the stock looks roughly 55.9% undervalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of kr 83.63 per share, and 19 of the 22 models we run sit above the kr 28.75 price.
Bear case: the Asset-Based group reads lowest at kr 15.83, and 3 of the 22 models stay below the price. Evidence for this calculation is medium.
Scenario range: kr 51.17 (bear) to kr 79.19 (bull), the price of kr 28.75 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 48/100 (below-average quality), in the Communication Services sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Eniro AB reported revenue of 955M SEK in FY2025 versus 828M SEK in FY2021, a compound +3.6%/yr. Reported net income was 46.0M SEK in FY2025.
Key figures
Market cap 390M SEK (≈ $39.4M) · P/E ratio 958.2 · P/S ratio 46.2 · EPS (TTM) kr 0.0300 · Dividend yield 8.7% · Net margin 4.8% · Return on equity 7.0% · Return on assets (EBIT) 1.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 77% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at 127%, ENRO screens cheaper than that median.
Fair Value models
Bear kr 51.17Fair Value kr 65.18Bull kr 79.19
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. 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.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.
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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+0.4%
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.
+0.9%
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.
+1.6%
Start year 2020 (pandemic). Over 10 years: −8.9% a year
Revenue growth 25 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.
−4.5%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+3.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.1%
Dividend (yield on the price)8.7%
Profit margin 2019 to 2025 ⓘ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.−7% → 5%
⚠ Revenue per share shrinking 45.2%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+58.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +55.7% a year for the price.
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Internet Content & Information · 144 stocks
Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside+126.8% · Top 25%
Profitability
Return on equity (TTM)7.0% · Above median
Return on assets2.0% · Above median
Net margin (TTM)2.3% · Below median
Operating margin (TTM)−0.4% · Below median
Growth and dividend
Revenue growth0.4% · Below median
Dividend yield (TTM)8.7% · Top 25%
Valuation Multiplesvs Internet Content & Information median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Eniro AB Fair Value". https://www.fairvalue-calculator.com/stock/ENRO
Frequently asked questions
Is Eniro AB (ENRO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 65.18 versus a price of kr 28.75, about +127% upside (undervalued).
What is the fair value of ENRO?
Our model-based fair value for Eniro AB is kr 65.18 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 28.75.
What is the quality score of ENRO?
Eniro AB has a Quality Score of 48/100. 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 Eniro AB (ENRO)?
Our model-based price target is the fair value of kr 65.18 (as of Sep 24, 2026) from 22 valuation models. Cautious scenario kr 51.17, optimistic scenario kr 79.19. It is a calculation from audited fundamentals, not an analyst target.
What is the Eniro AB stock forecast for 2026?
Our models put fair value at kr 65.18, about +127% upside versus a price of kr 28.75 (undervalued). Cautious scenario kr 51.17, optimistic scenario kr 79.19. The calculation is refreshed regularly with new filings.
What is the revenue of Eniro AB (ENRO)?
Eniro AB reported trailing-twelve-month revenue of about 956M SEK (latest available figure, as of Sep 24, 2026).
Does Eniro AB pay a dividend?
Eniro AB currently shows a dividend yield of about 8.70% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Eniro AB (ENRO)?
For today's price to be fair in a discounted-cash-flow model, Eniro AB would have to grow free cash flow by +58.8 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ENRO use?
Our models discount Eniro AB at 8.3 %: a base by market capitalisation (nano), damped by beta 0.24, country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Eniro AB that is +58.8 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Eniro AB (ENRO) delivered so far?
Over the past 5 years revenue at Eniro AB grew +1.6 % a year. The price currently implies +58.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Eniro AB (ENRO) growing?
The median revenue growth in the sector is +1.7 % a year. That is the yardstick for the growth priced into Eniro AB (+58.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Eniro AB (ENRO)?
The free-cash-flow yield on the price is 0.34 %: that much free cash flow Eniro AB produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Eniro AB (ENRO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Eniro AB it is kr 65.18 per share (as of Sep 24, 2026), against a price of kr 28.75. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Eniro AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ENRO trades below its calculated fair value: price kr 28.75, fair value kr 65.18, a gap of about +127% (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 ENRO?
No. The price is what the market pays today (kr 28.75); the fair value is what the company's own numbers justify (kr 65.18). For Eniro AB the two are kr 36.44 per share apart. That gap is exactly why we show both numbers side by side.
How much is Eniro AB worth?
The market values Eniro AB at about 390M SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 28.75; our models calculate a fair value of kr 65.18 per share.
What do the bullish and bearish scenarios say about ENRO?
Our models span a range for Eniro AB: cautious scenario kr 51.17, base kr 65.18, optimistic kr 79.19 per share (as of Sep 24, 2026, price kr 28.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of ENRO?
The PEG ratio of Eniro AB is 1.33 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Eniro AB (ENRO)?
Balance-sheet figures for Eniro AB (as of Sep 24, 2026): return on equity 7.0%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is ENRO from its 52-week high?
Eniro AB trades at kr 28.75, about 18% below its 52-week high of kr 34.99 and 77% above the low of kr 16.27 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of kr 65.18 is for.
Which stocks are comparable to Eniro AB?
From the same area (Communication Services) we also value Alphabet Inc, Meta Platforms, Inc, Tencent Holdings, Spotify Technology S.A, 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 Eniro AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 28.75, calculated fair value kr 65.18 (+127%), Quality Score 48/100, from 22 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 ENRO calculated?
We run Eniro AB through 22 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 kr 65.18, 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 13.9 % above its aggregate fair value. Eniro AB currently trades 127 % 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 Eniro AB (ENRO)?
The closing price on Sep 25, 2026 was kr 28.75. Our model-based fair value is kr 65.18, about +127% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Eniro AB right now?
The price is below even our cautious bear case (kr 51.17). The market is more pessimistic than our downside scenario. Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Eniro AB
How large is the market capitalisation of Eniro AB (ENRO)?
The market capitalisation of Eniro AB is 390M SEK (≈ $39.4M). 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/E ratio of Eniro AB (ENRO)?
The price-to-earnings ratio of Eniro AB is 958.2. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Eniro AB (ENRO)?
The price-to-sales ratio of Eniro AB is 46.2 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Eniro AB (ENRO)?
Earnings per share at Eniro AB are kr 0.0300 (price ÷ EPS = P/E 958.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Eniro AB (ENRO)?
The dividend yield of Eniro AB is 8.7%. 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 Eniro AB (ENRO)?
The net margin of Eniro AB is 4.8% (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 Eniro AB (ENRO)?
The return on equity (ROE) of Eniro AB is 7.0% (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 Eniro AB (ENRO)?
On an EBIT basis the return on assets of Eniro AB is 1.6% (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 Eniro AB (ENRO)?
The operating margin of Eniro AB is −0.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Eniro AB (ENRO)?
Revenue at Eniro AB is growing +0.4% versus a year earlier (3y avg +0.9%). 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 Eniro AB (ENRO)?
Earnings per share at Eniro AB are growing −76.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Eniro AB (ENRO) hold?
Eniro AB holds more cash than debt, 133M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Eniro AB in the live analysis
One click puts Eniro AB on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
