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Honkarakenne Oyj (HONBS) Fair Value & Analysis

Consumer Cyclical · FI · Market cap €15.8M

HO Honkarakenne Oyj HONBS · HE
Price€2.68
Fair Value€1.15
Upside-57.1%
Quality44/100
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Weak Growth
Loss-making · -11.1% net margin
Low debt · negative free cash flow
Trails peers (2/10)
Narrow moat 8/100
Evidence: Low Range €0.8600 – €1.72 Share as image

Fair value as of: Jul 19, 2026

From 1 valuation models · updated 22 days ago

Share price +5.9% over the past month.

Below-average quality, and screening another 57% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€1.72). The favourable scenario is already priced in.
  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (€0.8600 to €1.72) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€6.81 €2.20 Fair Value €1.15 Apr 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 €2.20 – €6.81 · fair‑value band €0.8600 – €1.72 · the €2.68 price screens above the €1.15 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

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Analysis

Honkarakenne Oyj (HONBS) currently trades at €2.68, while our model-based Fair Value estimate is €1.15, implying the stock looks roughly 57.1% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Consumer Cyclical 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: low).

Over the trailing twelve months, Honkarakenne Oyj generated revenue of €37.2M at a net margin of -11.1%. Revenue declined 7.9% year over year. It earns a return on equity of -35.5%. Fundamentals as of Jul 19, 2026

Our scenario range runs from €0.8600 (bear case) to €1.72 (bull case); at €2.68, 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 24% below its 52-week high and 22% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 44% fair-value upside, at -57%, HONBS 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
NCAV (Graham) €0.8600 €1.15 €1.72 50
All 1 models by family
Asset-Based
NCAV (Graham) €0.8600 €1.15 €1.72 50

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Key figures & financial health

Revenue (TTM) €37.2M
Revenue growth (YoY) -7.9%
Net margin -11.1%
Return on equity -35.5%
Free cash flow −€400K FY2025
Operating margin -5.8%
More key figures
EPS (TTM) €-0.7000
EPS growth (YoY) +123%
Net debt €965K FY2025

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

Quality Score breakdown

Overall quality 44/100

Of which business quality 43 · Market factors (momentum, volatility) 39

Profitability 21
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 45
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 81
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

Honkarakenne Oyj designs, manufactures, and sells log and solid-wood house packages in Finland. The company offers Honka log home kits, such as contemporary log homes, log cabins and holiday lodges, and traditional log homes; custom log homes; and fusion log homes, as well as massive and insulated walls, doors, corner types, roofs, interior wall, windows, …

Full company description

Honkarakenne Oyj designs, manufactures, and sells log and solid-wood house packages in Finland. The company offers Honka log home kits, such as contemporary log homes, log cabins and holiday lodges, and traditional log homes; custom log homes; and fusion log homes, as well as massive and insulated walls, doors, corner types, roofs, interior wall, windows, and sliding doors. It also provides design and construction services; and log billets and process by-products. The company sells its houses under the Honka brand name. It also exports its products. Honkarakenne Oyj was founded in 1958 and is headquartered in Karstula, Finland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Honkarakenne Oyj reported revenue of €37.2M in FY2025 versus €69.7M in FY2021, a compound −14.5%/yr. Reported net income was −€4.1M in FY2025.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€37.2M
Latest YoY
+1.3%
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.
−20.4%
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.
−6.8%
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.
−9.9%
Revenue −14.5%/yr
FY21 €69.7M
FY22 €73.7M
FY23 €46.3M
FY24 €36.7M
FY25 €37.2M
Net income
FY21 €3.3M
FY22 €2.8M
FY23 −€239K
FY24 −€2.2M
FY25 −€4.1M

HONBS screens 57% overvalued. Compare with D.R. Horton, Inc →

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

Peer Group

Residential Construction · 65 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 43 · Below median
Fair Value upside −57% · Bottom 25%
Return on assets -10% · Bottom 25%
Net margin (TTM) -11% · Bottom 25%
Operating margin (TTM) -6% · Bottom 25%
Revenue growth -8% · Below median
Debt / equity 0.12× · Lower than median

Valuation Multiples vs Residential Construction median · lower = cheaper

P/B 1.90× · Pricier than 75% of peers
P/S (TTM) 0.49× · Cheaper 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 51
FUTURE 0 · sector 0
PAST 0 · sector 33
HEALTH 94 · sector 88
DIVIDEND 0 · sector 54

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

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 Residential Construction stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
D.R. Horton, Inc DHI $149.39 $214.93 +44%
PulteGroup, Inc PHM $124.75 $193.56 +55%
Lennar Corporation LEN $83.89 $146.58 +75%
NVR, Inc NVR $6,479 $7,821 +21%
Toll Brothers, Inc TOL $150.76 $225.76 +50%
Taylor Morrison Home Corporation TMHC $72.13 $144.47 +100%
Installed Building Products, Inc IBP $228.65 $209.51 -8%
Meritage Homes Corporation MTH $73.83 $104.26 +41%
Champion Homes, Inc SKY $82.70 $75.12 -9%
Cavco Industries, Inc CVCO $569.16 $421.10 -26%

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Frequently asked questions

Is Honkarakenne Oyj (HONBS) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €1.15 versus a price of €2.68, about −57% (overvalued).
What is the fair value of HONBS?
Our model-based fair value for Honkarakenne Oyj is €1.15 (as of Jul 19, 2026), built from audited fundamentals. The current price is €2.68.
What is the quality score of HONBS?
Honkarakenne Oyj has a Quality Score of 44/100. 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 Honkarakenne Oyj (HONBS)?
Honkarakenne Oyj reported trailing-twelve-month revenue of about €37.2M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of HONBS?
The net profit margin of Honkarakenne Oyj is about -11.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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