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Hynion AS, (HYN) Fair Value & Analysis

Consumer Cyclical · NO · Market cap 14.7M NOK

HA Hynion AS, HYN · OL
Pricekr 0.0196
Fair Valuekr 0.0177
Upside-9.7%
Quality22/100
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Mixed Growth
Thin margins · 0.0% net margin
negative free cash flow
Mixed vs. peers (4/8)
Narrow moat 3/100
Evidence: Low Range kr 0.0177 – kr 0.0177 Share as image

Fair value as of: Jul 12, 2026

From 1 valuation models · updated 29 days ago

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits above even our optimistic bull case (kr 0.0177). The favourable scenario is already priced in.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

kr 5.89 kr 0.0162 Fair Value kr 0.0177 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range kr 0.0162 – kr 5.89 · the kr 0.0196 price screens above the kr 0.0177 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

Hynion AS, (HYN) currently trades at kr 0.0196, while our model-based Fair Value estimate is kr 0.0177, implying the stock looks roughly 9.7% fairly valued today. The Quality Score stands at 22/100 (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).

Trailing-twelve-month revenue stands at 6.3M NOK. Revenue grew 75.5% year over year. It earns a return on equity of -83.7%. Fundamentals as of Jul 12, 2026

For context, the median of 10 Consumer Cyclical peers we cover trades at -24% fair-value upside, at -10%, HYN 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
NCAV (Graham) kr 0.0200 kr 0.0200 kr 0.0300 50
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.0200 kr 0.0200 kr 0.0300 50

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Key figures & financial health

Revenue (TTM) 6.3M NOK
Revenue growth (YoY) +75.5%
Return on equity -83.7%
Free cash flow −23.4M NOK FY2023
Operating margin -219%
EPS (TTM) kr -0.2200

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 22/100

Of which business quality 28 · Market factors (momentum, volatility) 21

Profitability 0
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 26
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 36
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

Hynion AS, together with its subsidiaries, operates as a hydrogen fuel company in Norway and Sweden. It sells hydrogen fuels to personal vehicles, taxis, busses, and trucks through hydrogen refueling stations; and sells turn-key hydrogen refueling station. The company was formerly known as Hydrogenisk AS and changed its name to Hynion AS in September 2019.

Full company description

Hynion AS, together with its subsidiaries, operates as a hydrogen fuel company in Norway and Sweden. It sells hydrogen fuels to personal vehicles, taxis, busses, and trucks through hydrogen refueling stations; and sells turn-key hydrogen refueling station. The company was formerly known as Hydrogenisk AS and changed its name to Hynion AS in September 2019. Hynion AS was incorporated in 2019 and is based in Høvik, Norway.

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

Revenue & earnings trend

FY2019 – FY2023 · reported fiscal years

Hynion AS, reported revenue of kr 4.6M in FY2023 versus kr 223K in FY2019, a compound +113.6%/yr. Reported net income was −kr 32.2M in FY2023.

Growth Quality 30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2023)
4.6M NOK
Latest YoY
+11.4%
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.
+75.6%
Revenue +113.6%/yr
FY19 kr 223K
FY20 kr 855K
FY21 kr 1.7M
FY22 kr 4.2M
FY23 kr 4.6M
Net income
FY19 −kr 3.0M
FY20 −kr 6.1M
FY21 −kr 16.8M
FY22 −kr 29.2M
FY23 −kr 32.2M

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Cite: Fair Value Calculator (2026). "Hynion AS, Fair Value". https://www.fairvalue-calculator.com/stock/HYN

Peer Group

Specialty Retail · 221 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 28 · Bottom 25%
Fair Value upside +2% · Above median
Return on assets -23% · Bottom 25%
Net margin (TTM) 0% · Below median
Revenue growth 76% · Top 25%

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.24× · 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 36 · sector 29
FUTURE 100 · sector 23
PAST 0 · sector 27
HEALTH 0 · sector 94
DIVIDEND 0 · sector 51

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 Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Casey's General Stores, Inc CASY $827.04 $405.44 -51%
Williams-Sonoma, Inc WSM $222.84 $164.16 -26%
Ulta Beauty, Inc ULTA $479.57 $488.39 +2%
DICK'S Sporting Goods, Inc DKS $208.89 $181.10 -13%
Best Buy Co BBY $83.98 $109.12 +30%
China Tourism Group 601888 ¥52.90 ¥40.40 -24%
Tractor Supply Company TSCO $31.01 $35.52 +15%
Murphy USA Inc MUSA $618.57 $423.35 -32%
Five Below, Inc FIVE $197.71 $117.29 -41%
Taiwan Mobile Co 3045 110.50 TWD 80.98 TWD -27%

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Frequently asked questions

Is Hynion AS, (HYN) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 0.0177 versus a price of kr 0.0196, about −10% (fairly valued).
What is the fair value of HYN?
Our model-based fair value for Hynion AS, is kr 0.0177 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 0.0196.
What is the quality score of HYN?
Hynion AS, has a Quality Score of 22/100. 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 Hynion AS, (HYN)?
Hynion AS, reported trailing-twelve-month revenue of about 6.3M NOK (latest available figure, as of Jul 12, 2026).
What is the net profit margin of HYN?
The net profit margin of Hynion AS, is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. 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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