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Gofore Oyj (GOFORE) Fair Value & Analysis

Technology · FI · Market cap €163M

GO Gofore Oyj GOFORE · HE
Price€10.48
Fair Value€11.39
Upside+8.7%
Quality57/100
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Healthy Growth
Thin margins · 3.9% net margin
Low debt · generates free cash flow
4.86% dividend yield
Mixed vs. peers (7/15)
Narrow moat 37/100
Evidence: High Range €8.54 – €14.24 Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 22 days ago

Share price +7.9% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from €8.54 (bear) to €14.24 (bull), base €11.39. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 57/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€25.00 €9.68 Fair Value €11.39 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €9.68 – €25.00 · fair‑value band €8.54 – €14.24 · the €10.48 price screens below the €11.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Gofore Oyj (GOFORE) currently trades at €10.48, while our model-based Fair Value estimate is €11.39, implying the stock looks roughly 8.7% fairly valued today. The Quality Score stands at 57/100 (solid 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: high), always confirm before acting.

Over the trailing twelve months, Gofore Oyj generated revenue of €209M at a net margin of 3.9%. Revenue grew 29.7% year over year. It earns a return on equity of 7.6%. Net debt stands at €22.8M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €8.54 (bear case) to €14.24 (bull case); at €10.48, the current price sits within 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 46% below its 52-week high and 1% 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 9%, GOFORE 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
Growth DCF €15.93 €24.38 €39.41 80
Residual Income €5.23 €5.49 €5.63 76
Rev-Margin DCF €18.22 €35.32 €66.76 74
All 26 models by family
DCF Models
FCF DCF €16.94 €23.33 €42.00 38
Owner Earnings €13.13 €24.82 €45.20 31
5Y Revenue Exit €18.22 €31.03 €57.76 39
5Y EBITDA Exit €21.57 €37.81 €69.55 41
5Y P/E Exit €12.17 €22.75 €36.61 38
10Y Revenue Exit €17.11 €35.80 €47.97 36
10Y EBITDA Exit €19.76 €41.93 €81.02 37
10Y P/E Exit €13.89 €24.75 €41.70 35
Earnings-Based
Graham-Dodd €3.87 €27.01 €37.90 54
Lynch FV €9.90 €14.14 €18.38 50
PEG = 1.0 €9.90 €14.14 €18.38 46
EPV €12.84 €14.26 €15.41 59
Dividend Discount
Gordon GGM €3.24 €5.43 €7.04 70
DDM Multi-Stage €3.24 €5.15 €5.84 61
Multiples
P/E Multiple €8.54 €11.39 €14.24 63
P/S Multiple €7.26 €9.68 €12.10 58
P/B Multiple €7.26 €9.68 €12.10 55
EV/EBIT €25.85 €34.12 €42.40 53
EV/EBITDA €24.15 €31.86 €39.57 54
EV/Revenue €17.75 €24.93 €32.10 43
Asset-Based
NCAV (Graham) €3.40 €4.55 €6.80 50
Growth DCF
Growth DCF €15.93 €24.38 €39.41 80
Rev-Margin DCF €18.22 €35.32 €66.76 74
Economic Profit
Residual Income €5.23 €5.49 €5.63 76
ROIC Compounder €15.29 €20.10 €26.14 72
Growth Earnings
Growth-Adj P/E €12.49 €17.85 €23.20 68

Widest divergence: DCF Models (€24.82) versus Asset-Based (€4.55). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €209M
Revenue growth (YoY) +29.7%
Net margin 3.9%
Return on equity 7.6%
Free cash flow €21.8M FY2025
P/E ratio 21.3
More key figures
Operating margin 4.2%
EPS (TTM) €0.5100
Dividend yield 4.5%
EPS growth (YoY) -63.6%
Net debt €22.8M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 60 · Market factors (momentum, volatility) 34

Profitability 39
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 75
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

Gofore Oyj provides digital transformation consultancy services for private and public sectors in Finland and internationally. It is involved in the management of digital change, service design, and software development and testing; and provision of cloud services utilization consulting and cloud capacity services.

Full company description

Gofore Oyj provides digital transformation consultancy services for private and public sectors in Finland and internationally. It is involved in the management of digital change, service design, and software development and testing; and provision of cloud services utilization consulting and cloud capacity services. The company was incorporated in 2001 and is headquartered in Tampere, Finland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Gofore Oyj reported revenue of €191M in FY2025 versus €105M in FY2021, a compound +16.3%/yr. Reported net income was €9.2M in FY2025, compounding +0.5%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€191M
Latest YoY
+2.8%
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.
+8.5%
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.
+19.7%
Avg. growth/yr (11Y) 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.
+31.8%
Revenue +16.3%/yr
FY21 €105M
FY22 €150M
FY23 €189M
FY24 €186M
FY25 €191M
Net income +0.5%/yr
FY21 €9.1M
FY22 €12.0M
FY23 €17.9M
FY24 €16.3M
FY25 €9.2M
Character of growth · EPS growth decomposed (2014-2025) +26.7 % p.a.
Revenue per share +29.8 pp

of which total revenue +32.7 pp · buybacks/dilution −2.9 pp

EBIT margin −4.0 pp
Tax rate +0.3 pp
Residual (interest, one-offs) +0.6 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).

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

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 57 · Above median
Fair Value upside +9% · Above median
Return on equity (TTM) 8% · Below median
Return on assets 4% · Above median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 30% · Top 25%
Dividend yield (TTM) 4.9% · Top 25%
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 19.7× · Pricier than median
P/B 1.71× · Cheaper than median
P/S (TTM) 0.90× · Pricier than median
P/FCF 8.6× · Pricier than median
EV/EBITDA 9.3× · Cheaper than median
PEG 1.71× · 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 45 · sector 21
FUTURE 100 · sector 30
PAST 30 · sector 36
HEALTH 88 · sector 97
DIVIDEND 97 · 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 19, 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 Gofore Oyj (GOFORE) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €11.39 versus a price of €10.48, about +9% (fairly valued).
What is the fair value of GOFORE?
Our model-based fair value for Gofore Oyj is €11.39 (as of Jul 19, 2026), built from audited fundamentals. The current price is €10.48.
What is the quality score of GOFORE?
Gofore Oyj has a Quality Score of 57/100. 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 Gofore Oyj (GOFORE)?
Gofore Oyj reported trailing-twelve-month revenue of about €209M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of GOFORE?
The net profit margin of Gofore Oyj is about 3.9%, meaning it keeps roughly 3.9% of revenue as net income. Based on the latest reported figures.
Does Gofore Oyj pay a dividend?
Gofore Oyj currently shows a dividend yield of about 4.45% relative to its recent price (as of Jul 19, 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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