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Lumi Gruppen AS (LUMI) Fair Value & Analysis

Consumer Defensive · NO · Market cap 1.1B NOK

LG Lumi Gruppen AS LUMI · OL
Pricekr 18.20
Fair Valuekr 10.93
Upside-40.0%
Quality53/100
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Weak Growth
Thin margins · 5.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/13)
Moderate moat 45/100
Evidence: High Range kr 8.14 – kr 13.67 Share as image

Fair value as of: Jul 18, 2026

From 23 valuation models · updated 20 days ago

Share price −0.5% over the past month.

A solid business, but screening 40% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 13.67). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 67.23 kr 6.95 Fair Value kr 10.93 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range kr 6.95 – kr 67.23 · fair‑value band kr 8.14 – kr 13.67 · the kr 18.20 price screens above the kr 10.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

Full chart & analysis →

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Analysis

Lumi Gruppen AS (LUMI) currently trades at kr 18.20, while our model-based Fair Value estimate is kr 10.93, implying the stock looks roughly 40.0% overvalued today. We read business quality at 53/100 (solid quality), in the Consumer Defensive 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).

Over the trailing twelve months, Lumi Gruppen AS generated revenue of 507M NOK at a net margin of 5.7%. Revenue grew 13.8% year over year. It earns a return on equity of 5.7%. Net debt stands at 180M NOK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 8.14 (bear case) to kr 13.67 (bull case); at kr 18.20, 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 19% below its 52-week high and 38% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 17% fair-value upside, at -40%, LUMI 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 BearBaseBull Evidence
Highest evidence
Growth DCF kr 7.66 kr 9.77 kr 12.24 80
Residual Income kr 6.58 kr 6.56 kr 5.99 76
Rev-Margin DCF kr 9.64 kr 14.60 kr 19.85 74
All 23 models by family
DCF Models
FCF DCF kr 7.53 kr 9.84 kr 12.66 38
Owner Earnings kr 9.75 kr 12.80 kr 16.54 31
5Y Revenue Exit kr 9.64 kr 14.54 kr 20.56 39
5Y EBITDA Exit kr 13.73 kr 21.75 kr 30.70 41
5Y P/E Exit kr 7.32 kr 10.44 kr 13.50 38
10Y Revenue Exit kr 8.40 kr 12.32 kr 17.15 36
10Y EBITDA Exit kr 11.00 kr 16.76 kr 23.85 37
10Y P/E Exit kr 7.34 kr 9.80 kr 12.48 35
Earnings-Based
Graham-Dodd kr 3.38 kr 7.60 kr 9.72 54
PEG = 1.0 kr 1.24 kr 1.77 kr 2.31 46
EPV kr 9.56 kr 10.77 kr 11.78 59
Multiples
P/E Multiple kr 7.45 kr 9.94 kr 12.42 63
P/S Multiple kr 6.34 kr 8.45 kr 10.56 58
P/B Multiple kr 6.34 kr 8.45 kr 10.56 55
EV/EBIT kr 17.33 kr 22.89 kr 28.44 53
EV/EBITDA kr 20.76 kr 27.45 kr 34.15 54
EV/Revenue kr 11.90 kr 16.72 kr 21.53 43
Asset-Based
NCAV (Graham) kr 4.50 kr 6.03 kr 9.00 50
Growth DCF
Growth DCF kr 7.66 kr 9.77 kr 12.24 80
Rev-Margin DCF kr 9.64 kr 14.60 kr 19.85 74
Economic Profit
Residual Income kr 6.58 kr 6.56 kr 5.99 76
ROIC Compounder kr 9.62 kr 11.17 kr 12.77 72
Growth Earnings
Growth-Adj P/E kr 5.59 kr 7.99 kr 10.38 68

Widest divergence: DCF Models (kr 12.32) versus Asset-Based (kr 6.03). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 507M NOK
Revenue growth (YoY) +13.8%
Net margin 5.7%
Return on equity 5.7%
Free cash flow 45.2M NOK FY2025
P/E ratio 38.4
More key figures
Operating margin 16.1%
EPS (TTM) kr 0.5000
EPS growth (YoY) +98.4%
Net debt 180M NOK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 51 · Market factors (momentum, volatility) 52

Profitability 30
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 43
Distance to the 52-week high (market factor)
Net Issuance 32
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

Lumi Gruppen AS operates as an education provider in Norway. The company operates through three segments: Oslo Nye Høyskole, Oslo Nye Fagskole, and Sonans.

Full company description

Lumi Gruppen AS operates as an education provider in Norway. The company operates through three segments: Oslo Nye Høyskole, Oslo Nye Fagskole, and Sonans. The company provides bachelor programmes, annual programmes, master's programmes, and single-subject courses in psychology, health, social sciences, and business and administration, as well as practical and online programmes in technology, design, and digital innovation services. The company also operates private candidate schools; facilitates the transfer of students to partner universities abroad; and offers tutoring and academic support in STEM subjects. In addition, it offers courses on campus, as well as online. Lumi Gruppen AS was founded in 1989 and is headquartered in Oslo, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lumi Gruppen AS reported revenue of kr 505M in FY2025 versus kr 530M in FY2021, a compound −1.2%/yr. Reported net income was kr 28.7M in FY2025, compounding −16.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
505M NOK
Latest YoY
+12.6%
Avg. growth/yr (3Y)
−0.4%
Avg. growth/yr (5Y)
−0.5%
Avg. growth/yr (7Y)
+0.3%
Revenue −1.2%/yr
FY21 kr 530M
FY22 kr 512M
FY23 kr 421M
FY24 kr 449M
FY25 kr 505M
Net income −16.5%/yr
FY21 kr 59.1M
FY22 kr 40.7M
FY23 −kr 276M
FY24 kr 14.0M
FY25 kr 28.7M

LUMI screens 40% overvalued. Compare with New Oriental Education & Technology Group →

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Cite: Fair Value Calculator (2026). "Lumi Gruppen AS Fair Value". https://www.fairvalue-calculator.com/stock/LUMI

Peer Group

Education & Training Services · 148 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 53 · Above median
Fair Value upside −40% · Bottom 25%
Return on equity (TTM) 6% · Above median
Return on assets 4% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 16% · Above median
Revenue growth 14% · Above median

Valuation Multiples vs Education & Training Services median · lower = cheaper

P/E (TTM) 37.6× · Pricier than 75% of peers
P/B 2.09× · Pricier than median
P/S (TTM) 2.15× · Pricier than 75% of peers
P/FCF 2.5× · Pricier than median
EV/EBITDA 13.8× · Pricier than 75% of peers

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 37
FUTURE 69 · sector 24
PAST 23 · sector 18
HEALTH 100 · sector 95
DIVIDEND 0 · sector 66

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 Education & Training Services stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
New Oriental Education & Technology Group EDUN 966.48 MXN 897.37 MXN -7%
TAL Education Group TAL $10.24 $15.60 +52%
Laureate Education, Inc LAUR $36.45 $41.45 +14%
Physicswallah Limited PWL ₹130.16 ₹14.81 -89%
Grand Canyon Education, Inc LOPE $149.00 $152.01 +2%
Covista Inc CVSA $116.22 $135.45 +17%
Stride, Inc LRN $83.39 $139.45 +67%
Universal Technical Institute, Inc UTI $40.33 $21.35 -47%
Perdoceo Education Corporation PRDO $31.66 $41.45 +31%
Strategic Education, Inc STRA $84.18 $105.48 +25%

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Frequently asked questions

Is Lumi Gruppen AS (LUMI) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 10.93 versus a price of kr 18.20, about −40% (overvalued).
What is the fair value of LUMI?
Our model-based fair value for Lumi Gruppen AS is kr 10.93 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 18.20.
What is the quality score of LUMI?
Lumi Gruppen AS has a Quality Score of 53/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Lumi Gruppen AS (LUMI)?
Lumi Gruppen AS reported trailing-twelve-month revenue of about 507M NOK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of LUMI?
The net profit margin of Lumi Gruppen AS is about 5.7%, meaning it keeps roughly 5.7% 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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