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Honkarakenne Oyj B (HONBS) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Honkarakenne Oyj B €1.07, price €2.40, upside -55.4%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Consumer Cyclical · FI · ISIN FI0009900104

HO Thin data Sep 23, 2026

Honkarakenne Oyj B

HONBS · HE

Weakest SetupStrongly overvalued and low quality.

!Fair value €1.07 · Strongly overvalued (−55%)
!Quality 44/100
!Weak Growth (revenue 5y −6.8 %/yr)
!Loss-making · -11.1% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (2/10)
!Narrow moat 8/100
!Evidence only low, so the estimate is less certain
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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

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Price vs Fair Value

€6.75 €2.20 Fair Value €1.07 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range €2.20 – €6.75 · fair‑value band €0.8000 – €1.59 · the €2.40 price screens above the €1.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Honkarakenne Oyj designs, manufactures, and sells log and solid-wood house packages in Finland.

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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.

Stock analysis

Honkarakenne Oyj B (HONBS) currently trades at €2.40, while our model-based Fair Value estimate is €1.07, implying the stock looks roughly 124.3% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 94/100, which puts the evidence level at low.

Scenario range: €0.8000 (bear) to €1.59 (bull), the price of €2.40 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 44/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Honkarakenne Oyj B 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.

Key figures

Market cap €15.8M · P/S ratio 0.42 · EPS (TTM) €−0.7000 · Net margin −11.0% · Return on equity −35.5% · Return on assets (EBIT) −1.4% · Operating margin −5.8% · Revenue (TTM) €37.2M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).

What moves the price

The share trades about 24% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 44% fair-value upside, at −55%, HONBS screens richer than that median.

Fair Value models

Bear €0.8000 Fair Value €1.07 Bull €1.59
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. 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.
Highest evidence
NCAV (Graham) €0.8600 €1.15 €1.72 54
All 1 models by family
Asset-Based
NCAV (Graham) €0.8600 €1.15 €1.72 54

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Quality Score breakdown

Overall quality 44/100

Of which business quality 43 · Market factors (momentum, volatility) 33

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 44
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 81
Share count: buybacks or dilution?

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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. 6/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+1.3%
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.
−20.4%
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.
−6.8%
Start year 2020 (pandemic). Over 10 years: −0.5% 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.
−9.9%
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.
5.8% (2020) → −10.8% (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

HONBS screens 124% overvalued. Compare with D.R. Horton, 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.Residential Construction · 65 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Below median
Fair Value upside −55% · Bottom 25%
Profitability
Return on assets −10% · Bottom 25%
Net margin (TTM) −11% · Bottom 25%
Operating margin (TTM) −6% · Bottom 25%
Growth and dividend
Revenue growth −8% · Below median
Balance sheet
Debt / equity 0.12× · Below median

Valuation Multiplesvs Residential Construction median · lower = cheaper

P/B 1.87× · Priciest 25%
P/S (TTM) 0.48× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 80
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 33
HEALTH (low debt)94 · sector 88
DIVIDEND (yield)0 · sector 71

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 Residential Construction stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
D.R. Horton, Inc DHI $140.17 $238.11 +70%
PulteGroup, Inc PHM $118.71 $190.19 +60%
Lennar Corporation LEN $81.52 $117.15 +44%
NVR, Inc NVR $6,242 $8,059 +29%
Toll Brothers, Inc TOL $135.27 $230.52 +70%
Installed Building Products, Inc IBP $211.94 $233.13 +10%
Meritage Homes Corporation MTH $66.40 $103.12 +55%
Champion Homes, Inc SKY $88.84 $97.72 +10%
Cavco Industries, Inc CVCO $558.39 $614.23 +10%
M/I Homes, Inc MHO $142.67 $180.03 +26%

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Honkarakenne Oyj B · Fair Value
€1.07 −124%Fair Value
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Cite: Fair Value Calculator (2026). "Honkarakenne Oyj B Fair Value". https://www.fairvalue-calculator.com/stock/HONBS

Frequently asked questions

Is Honkarakenne Oyj B (HONBS) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €1.07 versus a price of €2.40, about −55% upside (overvalued).
What is the fair value of HONBS?
Our model-based fair value for Honkarakenne Oyj B is €1.07 (as of Sep 23, 2026), built from audited fundamentals. The current price: €2.40.
What is the quality score of HONBS?
Honkarakenne Oyj B 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 price target for Honkarakenne Oyj B (HONBS)?
Our model-based price target is the fair value of €1.07 (as of Sep 23, 2026) from 1 valuation models. Cautious scenario €0.8000, optimistic scenario €1.59. It is a calculation from audited fundamentals, not an analyst target.
What is the Honkarakenne Oyj B stock forecast for 2026?
Our models put fair value at €1.07, about −55% upside versus a price of €2.40 (overvalued). Cautious scenario €0.8000, optimistic scenario €1.59. The calculation is refreshed regularly with new filings.
What is the revenue of Honkarakenne Oyj B (HONBS)?
Honkarakenne Oyj B reported trailing-twelve-month revenue of about €37.2M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Honkarakenne Oyj B (HONBS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Honkarakenne Oyj B it is €1.07 per share (as of Sep 23, 2026), against a price of €2.40. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Honkarakenne Oyj B stock overvalued or undervalued in 2026?
As of Sep 23, 2026, HONBS trades above its calculated fair value: price €2.40, fair value €1.07, a gap of about −55% (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 HONBS?
No. The price is what the market pays today (€2.40); the fair value is what the company's own numbers justify (€1.07). For Honkarakenne Oyj B the two are €1.33 per share apart. That gap is exactly why we show both numbers side by side.
How much is Honkarakenne Oyj B worth?
The market values Honkarakenne Oyj B at about €15.8M (market capitalisation, as of Sep 23, 2026). Per share that is €2.40; our models calculate a fair value of €1.07 per share.
What do the bullish and bearish scenarios say about HONBS?
Our models span a range for Honkarakenne Oyj B: cautious scenario €0.8000, base €1.07, optimistic €1.59 per share (as of Sep 23, 2026, price €2.40). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Honkarakenne Oyj B (HONBS)?
Balance-sheet figures for Honkarakenne Oyj B (as of Sep 23, 2026): return on equity −35.5%, debt of 0.12 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is HONBS from its 52-week high?
Honkarakenne Oyj B trades at €2.40, about 24% below its 52-week high of €3.15 and 9% above the low of €2.20 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €1.07 is for.
Which stocks are comparable to Honkarakenne Oyj B?
From the same area (Consumer Cyclical) we also value D.R. Horton, Inc, PulteGroup, Inc, Lennar Corporation, NVR, Inc, 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 Honkarakenne Oyj B stock attractive at the current price?
The data as of Sep 23, 2026: price €2.40, calculated fair value €1.07 (−55%), Quality Score 44/100, from 1 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 HONBS calculated?
We run Honkarakenne Oyj B through 1 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 €1.07, 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 14.0 % above its aggregate fair value. Honkarakenne Oyj B 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 Honkarakenne Oyj B (HONBS)?
The closing price on Sep 24, 2026 was €2.40. Our model-based fair value is €1.07, about −55% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Honkarakenne Oyj B right now?
The price sits above even our optimistic bull case (€1.59). 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 (€0.8000 to €1.59) leaves room in how you read the outcome.

Key figures of Honkarakenne Oyj B

How large is the market capitalisation of Honkarakenne Oyj B (HONBS)?
The market capitalisation of Honkarakenne Oyj B is €15.8M. 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 Honkarakenne Oyj B (HONBS)?
The price-to-sales ratio of Honkarakenne Oyj B is 0.42 (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 Honkarakenne Oyj B (HONBS)?
Earnings per share at Honkarakenne Oyj B are €−0.7000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Honkarakenne Oyj B (HONBS)?
The net margin of Honkarakenne Oyj B is −11.0% (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 Honkarakenne Oyj B (HONBS)?
The return on equity (ROE) of Honkarakenne Oyj B is −35.5% (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 Honkarakenne Oyj B (HONBS)?
On an EBIT basis the return on assets of Honkarakenne Oyj B is −1.4% (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 Honkarakenne Oyj B (HONBS)?
The operating margin of Honkarakenne Oyj B is −5.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Honkarakenne Oyj B (HONBS)?
Revenue at Honkarakenne Oyj B is growing −7.9% versus a year earlier (3y avg −20.4%). 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 Honkarakenne Oyj B (HONBS)?
Earnings per share at Honkarakenne Oyj B are growing +123% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Honkarakenne Oyj B (HONBS) generate?
The free cash flow of Honkarakenne Oyj B is −€400K (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 Honkarakenne Oyj B (HONBS) carry?
The net debt of Honkarakenne Oyj B is €965K (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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