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eQ Oyj (EQV1V) Fair Value & Analysis

Financial Services · FI · Market cap €402M

EO eQ Oyj EQV1V · HE
Price€9.52
Fair Value€2.33
Upside-75.5%
Quality77/100
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Weak Growth
Highly profitable · 36.3% net margin
Low debt · generates free cash flow
5.38% dividend yield
Mixed vs. peers (7/14)
Wide moat 90/100
Evidence: High Range €1.75 – €2.92 Share as image

Fair value as of: Jul 17, 2026

From 13 valuation models · updated 24 days ago

Share price −2.9% over the past month.

A strong business, but screening 76% overvalued on our models.

What matters now

  • A high-quality business (quality 77/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (€2.92). The favourable scenario is already priced in.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

€26.49 €9.10 Fair Value €2.33 May 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 €9.10 – €26.49 · fair‑value band €1.75 – €2.92 · the €9.52 price screens above the €2.33 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

eQ Oyj (EQV1V) currently trades at €9.52, while our model-based Fair Value estimate is €2.33, implying the stock looks roughly 75.5% overvalued today. The Quality Score stands at 77/100 (high quality), in the Financial Services 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, eQ Oyj generated revenue of €59.1M at a net margin of 36.3%. Revenue grew 1.2% year over year. It earns a return on equity of 41.5%. The balance sheet holds a net cash position of €5.8M. Fundamentals as of Jul 17, 2026

Our scenario range runs from €1.75 (bear case) to €2.92 (bull case); at €9.52, 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 27% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at -76%, EQV1V 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 €8.43 €13.86 €23.85 80
Residual Income €2.69 €3.22 €8.76 76
Rev-Margin DCF €4.65 €7.51 €13.02 74
All 13 models by family
DCF Models
Owner Earnings €7.13 €14.56 €28.34 31
5Y P/E Exit €6.53 €13.05 €21.71 38
10Y P/E Exit €7.39 €14.19 €24.86 35
Earnings-Based
Graham-Dodd €3.55 €24.73 €34.71 54
Lynch FV €10.02 €14.32 €18.62 50
Dividend Discount
Gordon GGM €5.13 €9.24 €12.72 70
DDM Multi-Stage €5.13 €8.44 €9.87 61
Multiples
P/E Multiple €5.08 €6.78 €8.47 63
P/B Multiple €1.75 €2.33 €2.92 55
Asset-Based
NCAV (Graham) €0.8300 €1.12 €1.67 50
Growth DCF
Growth DCF €8.43 €13.86 €23.85 80
Rev-Margin DCF €4.65 €7.51 €13.02 74
Economic Profit
Residual Income €2.69 €3.22 €8.76 76

Widest divergence: Earnings-Based (€14.32) versus Asset-Based (€1.12). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €59.1M
Revenue growth (YoY) +1.2%
Net margin 36.3%
Return on equity 41.5%
Free cash flow €26.7M FY2025
P/E ratio 18.7
More key figures
Operating margin 39.0%
EPS (TTM) €0.5200
Dividend yield 5.4%
Net cash €5.8M FY2025

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

Quality Score breakdown

Overall quality 77/100

Of which business quality 75 · Market factors (momentum, volatility) 43

Profitability 89
Margins and returns on capital today
Quality Growth 12
Are margins and returns improving?
Cashflow 88
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 65
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

eQ Oyj is a publicly owned investment manager. The firm through its subsidiaries provides asset management, corporate finance and investments. The firm specializing in fund of funds investments and secondary transactions. It seeks to make primary investments to funds being raised and to acquire commitments in the secondary market.

Full company description

eQ Oyj is a publicly owned investment manager. The firm through its subsidiaries provides asset management, corporate finance and investments. The firm specializing in fund of funds investments and secondary transactions. It seeks to make primary investments to funds being raised and to acquire commitments in the secondary market. The firm invests in venture capital and middle market funds, buyout funds, and private equity funds in the technology sector. It seeks to invest in funds based in Baltic States, Northern Europe, North America, South America, Southern Europe, CEE/SEE, Africa, United States, Western Europe, EU, Finland, Benelux, Asia, Germany, Switzerland, United Kingdom, France, Russia/CIS, Nordic Region, the former Soviet republics, and Eastern Europe. In its own funds, it invests predominantly in Northern European and North-American funds that are in the size bracket of "50 and "500 million. In its client mandates, it invests in European buyout funds of any size. Typically the funds we invest in acquire majority positions in target companies. The firm was formerly known as Amanda Capital Oyj. eQ Oyj was founded in 2000 and is based in Helsinki, Finland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

eQ Oyj reported revenue of €60.7M in FY2025 versus €75.4M in FY2021, a compound −5.3%/yr. Reported net income was €21.6M in FY2025, compounding −13.2%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€60.7M
Latest YoY
−8.7%
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.
−8.7%
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.
+1.1%
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.
+29.4%
Revenue −5.3%/yr
FY21 €75.4M
FY22 €79.7M
FY23 €72.3M
FY24 €66.5M
FY25 €60.7M
Net income −13.2%/yr
FY21 €38.1M
FY22 €36.3M
FY23 €31.5M
FY24 €27.4M
FY25 €21.6M
Character of growth · EPS growth decomposed (2014-2025) +10.0 % p.a.
Revenue per share +7.8 pp

of which total revenue +9.2 pp · buybacks/dilution −1.4 pp

EBIT margin +2.0 pp
Tax rate +0.0 pp
Residual (interest, one-offs) +0.2 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).

EQV1V screens 76% overvalued. Compare with Fondul Proprietatea SA →

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Cite: Fair Value Calculator (2026). "eQ Oyj Fair Value". https://www.fairvalue-calculator.com/stock/EQV1V

Peer Group

Asset Management · 971 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 76 · Top 25%
Fair Value upside −76% · Bottom 25%
Return on equity (TTM) 41% · Top 25%
Return on assets 18% · Top 25%
Net margin (TTM) 36% · Above median
Operating margin (TTM) 39% · Below median
Revenue growth 1% · Above median
Dividend yield (TTM) 5.4% · Above median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 18.7× · Pricier than median
P/B 6.72× · Pricier than 75% of peers
P/S (TTM) 7.86× · Pricier than median
P/FCF 17.4× · Pricier than median
EV/EBITDA 16.4× · 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 37
FUTURE 6 · sector 6
PAST 100 · sector 26
HEALTH 98 · sector 95
DIVIDEND 100 · sector 69

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

Insider activity: 30/100

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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
BlackRock, Inc BLK $1,136 $465.75 -59%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 423.70 kr 847.40 +100%
Brookfield Corporation BN C$62.45 C$10.12 -84%
KKR & Co KKR $100.94 $44.88 -56%
AB Industrivärden INDUA kr 532.50 kr 1,065 +100%
Jio Financial Services Limited JIOFIN ₹242.98 ₹40.19 -83%
Hedef Holding HEDEF 267.25 TRY 320.98 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%

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Frequently asked questions

Is eQ Oyj (EQV1V) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of €2.33 versus a price of €9.52, about −76% (overvalued).
What is the fair value of EQV1V?
Our model-based fair value for eQ Oyj is €2.33 (as of Jul 17, 2026), built from audited fundamentals. The current price is €9.52.
What is the quality score of EQV1V?
eQ Oyj has a Quality Score of 77/100. 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 eQ Oyj (EQV1V)?
eQ Oyj reported trailing-twelve-month revenue of about €59.1M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of EQV1V?
The net profit margin of eQ Oyj is about 36.3%, meaning it keeps roughly 36.3% of revenue as net income. Based on the latest reported figures.
Does eQ Oyj pay a dividend?
eQ Oyj currently shows a dividend yield of about 5.46% 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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