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Inderes Oyj (INDERES) Fair Value & Analysis

Financial Services · FI · Market cap €28.8M

IO Inderes Oyj INDERES · HE
Price€17.10
Fair Value€2.12
Upside-87.6%
Quality63/100
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Healthy Growth
Thin margins · 0.0% net margin
Low debt · generates free cash flow
Trails peers (0/13)
Moderate moat 51/100
Evidence: High Range €2.11 – €2.12 Share as image

Fair value as of: Jul 20, 2026

From 13 valuation models · updated 21 days ago

Fair value updated Jul 20, 2026, revised from €2.16 to €2.12 (−1.9%) since Jun 26, 2026. Share price +3.3% over the past month.

A solid business, but screening 88% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€2.12). The favourable scenario is already priced in.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (€2.11 to €2.12), unusually little disagreement for a valuation.
  • 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)

€41.24 €14.44 Fair Value €2.12 Oct 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

58‑month range €14.44 – €41.24 · fair‑value band €2.11 – €2.12 · the €17.10 price screens above the €2.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

Full chart & analysis →

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Analysis

Inderes Oyj (INDERES) currently trades at €17.10, while our model-based Fair Value estimate is €2.12, implying the stock looks roughly 87.6% overvalued today. The Quality Score stands at 63/100 (solid 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).

The stock trades on a trailing P/E of 120.4. Fundamentals as of Jul 20, 2026

Our scenario range runs from €2.11 (bear case) to €2.12 (bull case); at €17.10, 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 6% below its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -53% fair-value upside, at -88%, INDERES 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 €7.78 €11.88 €17.51 80
Residual Income €1.94 €1.90 €1.56 76
Rev-Margin DCF €5.82 €9.00 €13.23 74
All 13 models by family
DCF Models
Owner Earnings €3.92 €6.13 €9.44 31
5Y P/E Exit €4.12 €5.41 €6.76 38
10Y P/E Exit €5.63 €7.31 €9.45 35
Earnings-Based
Graham-Dodd €0.8000 €4.07 €5.62 54
Lynch FV €1.10 €1.58 €2.05 50
Dividend Discount
Gordon GGM €6.06 €10.15 €13.18 70
DDM Multi-Stage €6.06 €9.63 €10.92 61
Multiples
P/E Multiple €1.15 €1.53 €1.92 63
P/B Multiple €1.50 €2.01 €2.51 55
Asset-Based
NCAV (Graham) €1.42 €1.90 €2.84 50
Growth DCF
Growth DCF €7.78 €11.88 €17.51 80
Rev-Margin DCF €5.82 €9.00 €13.23 74
Economic Profit
Residual Income €1.94 €1.90 €1.56 76

Widest divergence: Dividend Discount (€9.63) versus Multiples (€1.53). Highest evidence: Growth DCF (80).

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Key figures & financial health

Free cash flow €1.4M FY2025
P/E ratio 120.4
EPS (TTM) €0.1400
Net cash €482K FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 59 · Market factors (momentum, volatility) 60

Profitability 54
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 63
Distance to the 52-week high (market factor)
Net Issuance 63
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

Inderes Oyj provides investor communication services in Finland. It builds solutions for the needs of listed companies that enable investor communication that reaches the right target groups. The company's products include commissioned research, virtual event solutions, and technology and IR solutions.

Full company description

Inderes Oyj provides investor communication services in Finland. It builds solutions for the needs of listed companies that enable investor communication that reaches the right target groups. The company's products include commissioned research, virtual event solutions, and technology and IR solutions. It also provides services that enable investment community members to develop into better investors, network with other investors, and receive up-to-date information to support investment decisions. The company was founded in 2009 and is based in Helsinki, Finland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Inderes Oyj reported revenue of €19.1M in FY2025 versus €11.8M in FY2021, a compound +12.8%/yr. Reported net income was €208K in FY2025, compounding −36.7%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€19.1M
Latest YoY
+3.9%
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.
+12.3%
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.
+17.0%
Avg. growth/yr (6Y) 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.
+25.2%
Revenue +12.8%/yr
FY21 €11.8M
FY22 €13.5M
FY23 €17.2M
FY24 €18.4M
FY25 €19.1M
Net income −36.7%/yr
FY21 €1.3M
FY22 €385K
FY23 €84.8K
FY24 €441K
FY25 €208K

INDERES screens 88% overvalued. Compare with S&P Global Inc →

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

Peer Group

Financial Data & Stock Exchanges · 54 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 62 · Below median
Fair Value upside −88% · Bottom 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 0% · Bottom 25%
Operating margin (TTM) 0% · Bottom 25%
Revenue growth 0% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Financial Data & Stock Exchanges median · lower = cheaper

P/E (TTM) 116.4× · Pricier than 75% of peers
P/B 6.64× · Pricier than 75% of peers
P/FCF 24.3× · Pricier than 75% of peers
EV/EBITDA 18.5× · 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 0
FUTURE 0 · sector 69
PAST 0 · sector 77
HEALTH 91 · sector 94
DIVIDEND 0 · sector 32

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 Financial Data & Stock Exchanges stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
S&P Global Inc SPGI $450.84 $196.36 -56%
CME Group CME $245.05 $145.51 -41%
Moody's Corporation MCO $504.46 $194.82 -61%
Intercontinental Exchange, Inc ICE $139.65 $75.95 -46%
Deutsche Börse AG DB1 €260.90 €142.42 -45%
Nasdaq, Inc NDAQ $88.08 $41.12 -53%
MSCI Inc MSCI $604.71 $214.91 -64%
Coinbase Global, Inc COIN $160.49 $57.05 -64%
Cboe Global Markets, Inc CBOE $273.41 $136.64 -50%
Hithink RoyalFlush Information Network Co 300033 ¥215.56 ¥55.36 -74%

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Frequently asked questions

Is Inderes Oyj (INDERES) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of €2.12 versus a price of €17.10, about −88% (overvalued).
What is the fair value of INDERES?
Our model-based fair value for Inderes Oyj is €2.12 (as of Jul 20, 2026), built from audited fundamentals. The current price is €17.10.
What is the quality score of INDERES?
Inderes Oyj has a Quality Score of 63/100. 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 net profit margin of INDERES?
The net profit margin of Inderes Oyj 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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