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Investors House Oyj (INVEST) Fair Value & Analysis

Real Estate · FI · Market cap €21.5M

IH Investors House Oyj INVEST · HE
Price€3.46
Fair Value€5.39
Upside+55.8%
Quality58/100
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Weak Growth
Highly profitable · 54.8% net margin
Moderate debt · generates free cash flow
11.01% dividend yield
Mixed vs. peers (6/14)
Moderate moat 46/100
Evidence: High Range €4.32 – €8.43 Share as image

Fair value as of: Jul 19, 2026

From 14 valuation models · updated 22 days ago

Share price −2.8% over the past month.

A solid business, screening 56% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€4.32). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€4.32 to €8.43) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

€4.60 €2.07 Fair Value €5.39 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 €2.07 – €4.60 · fair‑value band €4.32 – €8.43 · the €3.46 price screens below the €5.39 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

Investors House Oyj (INVEST) currently trades at €3.46, while our model-based Fair Value estimate is €5.39, implying the stock looks roughly 55.8% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Real Estate 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, Investors House Oyj generated revenue of €7.2M at a net margin of 54.8%. Revenue declined 45.3% year over year. It earns a return on equity of 11.9%. Net debt stands at €9.6M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €4.32 (bear case) to €8.43 (bull case); at €3.46, the current price sits below 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 28% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at 56%, INVEST 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 €0.1100 €0.8900 €1.93 80
Rev-Margin DCF €1.66 €4.24 €7.56 74
Residual Income €3.50 €4.65 €13.63 61
All 14 models by family
DCF Models
FCF DCF €0.1400 €1.04 €2.35 38
5Y Revenue Exit €1.66 €4.35 €8.05 39
5Y EBITDA Exit €2.44 €5.95 €10.41 41
10Y Revenue Exit €0.8700 €2.96 €6.24 36
10Y EBITDA Exit €1.42 €3.96 €7.93 37
Multiples
P/S Multiple €6.42 €8.56 €10.70 58
P/B Multiple €4.81 €6.42 €8.02 55
EV/EBIT €6.25 €8.80 €11.34 53
EV/EBITDA €4.58 €6.57 €8.55 54
EV/Revenue €2.83 €4.64 €6.44 43
Asset-Based
NCAV (Graham) €1.60 €2.15 €3.21 50
Growth DCF
Growth DCF €0.1100 €0.8900 €1.93 80
Rev-Margin DCF €1.66 €4.24 €7.56 74
Economic Profit
Residual Income €3.50 €4.65 €13.63 61

Widest divergence: Multiples (€6.57) versus Growth DCF (€0.8900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €7.2M
Revenue growth (YoY) -45.3%
Net margin 54.8%
Return on equity 11.9%
Free cash flow €1.0M FY2025
P/E ratio 6.0
More key figures
Operating margin -7.7%
EPS (TTM) €0.6200
Dividend yield 10.2%
EPS growth (YoY) -57.1%
Net debt €9.6M FY2025

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 55 · Market factors (momentum, volatility) 43

Profitability 53
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 100
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

Investors House Oyj operates as a real estate investment company in Finland and Estonia. The company operates in two segments, Investments in Real Estate and Business Service. It owns, operates, leases, and manages university town and provincial center properties in 11 locations.

Full company description

Investors House Oyj operates as a real estate investment company in Finland and Estonia. The company operates in two segments, Investments in Real Estate and Business Service. It owns, operates, leases, and manages university town and provincial center properties in 11 locations. The company was formerly known as SSK Suomen Saastajien Kiinteistot Oyj and changed its name to Investors House Oyj in April 2015. Investors House Oyj was founded in 1988 and is based in Helsinki, Finland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Investors House Oyj reported revenue of €8.4M in FY2025 versus €9.8M in FY2021, a compound −3.7%/yr. Reported net income was €4.3M in FY2025.

Growth Quality 36/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€8.4M
Latest YoY
−15.9%
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.
+3.3%
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.
−2.4%
Avg. growth/yr (24Y) 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.
+12.1%
Revenue −3.7%/yr
FY21 €9.8M
FY22 €7.6M
FY23 €6.9M
FY24 €10.0M
FY25 €8.4M
Net income
FY21 −€769K
FY22 €3.2M
FY23 €3.6M
FY24 €6.9M
FY25 €4.3M
Character of growth · EPS growth decomposed (2015-2025) −3.8 % p.a.
Revenue per share +8.5 pp

of which total revenue +16.9 pp · buybacks/dilution −8.4 pp

EBIT margin −13.1 pp
Tax rate +0.7 pp
Residual (interest, one-offs) +0.1 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). "Investors House Oyj Fair Value". https://www.fairvalue-calculator.com/stock/INVEST

Peer Group

Real Estate Services · 520 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 58 · Above median
Fair Value upside +56% · Above median
Return on equity (TTM) 12% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) 55% · Top 25%
Operating margin (TTM) -8% · Bottom 25%
Revenue growth -45% · Bottom 25%
Dividend yield (TTM) 11.0% · Top 25%
Debt / equity 0.67× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 5.5× · Cheaper than 75% of peers
P/B 1.22× · Pricier than median
P/S (TTM) 3.48× · Pricier than median
P/FCF 24.0× · Pricier than 75% of peers
EV/EBITDA 19.7× · 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 100 · sector 37
FUTURE 0 · sector 10
PAST 48 · sector 16
HEALTH 67 · sector 85
DIVIDEND 100 · sector 49

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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
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KE Holdings 2423 HK$44.76 HK$18.03 -60%
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Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Investors House Oyj (INVEST) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €5.39 versus a price of €3.46, about +56% (undervalued).
What is the fair value of INVEST?
Our model-based fair value for Investors House Oyj is €5.39 (as of Jul 19, 2026), built from audited fundamentals. The current price is €3.46.
What is the quality score of INVEST?
Investors House Oyj has a Quality Score of 58/100. 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 Investors House Oyj (INVEST)?
Investors House Oyj reported trailing-twelve-month revenue of about €7.2M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of INVEST?
The net profit margin of Investors House Oyj is about 54.8%, meaning it keeps roughly 54.8% of revenue as net income. Based on the latest reported figures.
Does Investors House Oyj pay a dividend?
Investors House Oyj currently shows a dividend yield of about 10.19% 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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