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Nokian Renkaat Oyj (NKRKF) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Nokian Renkaat Oyj $12.22, price $17.50, upside -30.2%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Consumer Cyclical · US · ISIN FI0009005318

NR Nokian Renkaat Oyj logo Some data Sep 24, 2026

Nokian Renkaat Oyj

NKRKF · US

Weak valuationQuality is weak on top of the rich price.

!Fair value $12.22 · Overvalued (−30.2%)
!Quality 49/100
!Weak Growth (revenue 5y +0.9 %/yr)
!Thin margins · 0.0% net margin (TTM)
!Moderate debt · negative free cash flow
!1.4% dividend yield · Watch coverage
!Narrow moat 26/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

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

$30.15 $5.98 Fair Value $12.22 Jul 2015 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.

How to read this chart

60‑month range $5.98 – $30.15 · fair‑value band $7.79 – $16.66 · the $17.50 price screens above the $12.22 fair value. As of Sep 24, 2026.

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Company profile

Nokian Renkaat Oyj develops and manufactures tires for passenger cars, trucks, and heavy machineries in Nordics, Central Europe, North America, and internationally. It operates through Passenger Car Tyres; Heavy Tyres; and Vianor segments.

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Nokian Renkaat Oyj develops and manufactures tires for passenger cars, trucks, and heavy machineries in Nordics, Central Europe, North America, and internationally. It operates through Passenger Car Tyres; Heavy Tyres; and Vianor segments. The company develops and produces winter, summer, and all-season tires for passenger cars, SUVs, and vans; tires for forestry machinery; tires for ports and terminals, mining, agriculture, trucks and buses, earthmoving, and road maintenance. It also sells car, truck, buse, and van tires under the Nokian Tyres and other tire brands; other automotive products and services; provide car maintenance and tire service; and operates Vianor service centers. The company distributes its products through Vianor chain, Vianor Partner chain, Nokian Tyres Authorized Dealers network, as well as through tire dealers, car dealerships, and vehicle manufacturers, and online stores. Nokian Renkaat Oyj was founded in 1898 and is headquartered in Nokia, Finland.

Stock analysis

Nokian Renkaat Oyj (NKRKF) currently trades at $17.50, while our model-based Fair Value estimate is $12.22, 30.2% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of $6.37 per share, and 0 of the 5 models we run sit above the $17.50 price.

Bear case: the Dividend Discount group reads lowest at $3.29, and 5 of the 5 models stay below the price. Evidence for this calculation is medium.

Scenario range: $7.79 (bear) to $16.66 (bull), the price of $17.50 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 49/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Nokian Renkaat Oyj reported revenue of €1.4B in FY2025 versus €1.7B in FY2021, a compound −5.4%/yr. Reported net income was −€15.0M in FY2025.

Key figures

Market cap $2.4B · P/S ratio 1.20 · Dividend yield 1.4% · Net margin −1.1% · Return on equity 0.1% · Return on assets (EBIT) 1.8% · Operating margin −6.4% · Revenue (TTM) €1.4B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).

What moves the price

The share trades about 9% below its 52-week high and 72% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −27% fair-value upside, at −30%, NKRKF screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely ($1.20 to $13.38). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear $7.79 Fair Value $12.22 Bull $16.66
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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
Gordon GGM $2.43 $3.45 $4.39 69
DDM Multi-Stage $2.43 $3.29 $4.15 67
EV/EBITDA $9.02 $13.38 $17.74 66
All 6 models by family
Dividend Discount
Gordon GGM $2.43 $3.45 $4.39 69
DDM Multi-Stage $2.43 $3.29 $4.15 67
Multiples
EV/EBIT n/a $1.20 $2.51 61
EV/EBITDA $9.02 $13.38 $17.74 66
EV/Revenue n/a n/a $0.8800 50
Asset-Based
NCAV (Graham) $4.75 $6.37 $9.51 54

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Quality Score breakdown

Overall quality 49/100

Of which business quality 46 · Market factors (momentum, volatility) 59

Profitability 19
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 22
Calm price path (market factor)
Momentum 95
Price trend over the last 3–12 months (market factor)
52W Momentum 43
Distance to the 52-week high (market factor)
Net Issuance 82
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. 27/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+6.5%
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.
−8.2%
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.
+0.9%
Start year 2020 (pandemic). Over 10 years: +0.1% 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.
+5.1%
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.
9.1% (2020) → 2.6% (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

NKRKF screens overvalued: fair value 30% below the price. Compare with O'Reilly Automotive, Inc →

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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

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$12.22 −30%Fair Value
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Cite: Fair Value Calculator (2026). "Nokian Renkaat Oyj Fair Value". https://www.fairvalue-calculator.com/stock/NKRKF

Frequently asked questions

Is Nokian Renkaat Oyj (NKRKF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $12.22 versus a price of $17.50, about −30% upside (overvalued).
What is the fair value of NKRKF?
Our model-based fair value for Nokian Renkaat Oyj is $12.22 (as of Sep 24, 2026), built from audited fundamentals. The current price: $17.50.
What is the quality score of NKRKF?
Nokian Renkaat Oyj has a Quality Score of 49/100. 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 Nokian Renkaat Oyj (NKRKF)?
Our model-based price target is the fair value of $12.22 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario $7.79, optimistic scenario $16.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Nokian Renkaat Oyj stock forecast for 2026?
Our models put fair value at $12.22, about −30% upside versus a price of $17.50 (overvalued). Cautious scenario $7.79, optimistic scenario $16.66. The calculation is refreshed regularly with new filings.
What is the revenue of Nokian Renkaat Oyj (NKRKF)?
Nokian Renkaat Oyj reported trailing-twelve-month revenue of about €1.4B (latest available figure, as of Sep 24, 2026).
Does Nokian Renkaat Oyj pay a dividend?
Nokian Renkaat Oyj currently shows a dividend yield of about 1.43% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Nokian Renkaat Oyj (NKRKF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nokian Renkaat Oyj it is $12.22 per share (as of Sep 24, 2026), against a price of $17.50. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Nokian Renkaat Oyj stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NKRKF trades above its calculated fair value: price $17.50, fair value $12.22, a gap of about −30% (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 NKRKF?
No. The price is what the market pays today ($17.50); the fair value is what the company's own numbers justify ($12.22). For Nokian Renkaat Oyj the two are $5.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nokian Renkaat Oyj worth?
The market values Nokian Renkaat Oyj at about $2.4B (market capitalisation, as of Sep 24, 2026). Per share that is $17.50; our models calculate a fair value of $12.22 per share.
What do the bullish and bearish scenarios say about NKRKF?
Our models span a range for Nokian Renkaat Oyj: cautious scenario $7.79, base $12.22, optimistic $16.66 per share (as of Sep 24, 2026, price $17.50). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is NKRKF from its 52-week high?
Nokian Renkaat Oyj trades at $17.50, about 9% below its 52-week high of $19.26 and 72% above the low of $10.18 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $12.22 is for.
Which stocks are comparable to Nokian Renkaat Oyj?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Nokian Renkaat Oyj stock attractive at the current price?
The data as of Sep 24, 2026: price $17.50, calculated fair value $12.22 (−30%), Quality Score 49/100, from 6 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 NKRKF calculated?
We run Nokian Renkaat Oyj through 6 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 $12.22, 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 14.5 % above its aggregate fair value. Nokian Renkaat Oyj 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 Nokian Renkaat Oyj (NKRKF)?
The closing price on Oct 2, 2026 was $17.50. Our model-based fair value is $12.22, about −30% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nokian Renkaat Oyj right now?
The price sits above even our optimistic bull case ($16.66). The favourable scenario is already priced in. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($7.79 to $16.66) leaves room in how you read the outcome.

Key figures of Nokian Renkaat Oyj

How large is the market capitalisation of Nokian Renkaat Oyj (NKRKF)?
The market capitalisation of Nokian Renkaat Oyj is $2.4B. 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 Nokian Renkaat Oyj (NKRKF)?
The price-to-sales ratio of Nokian Renkaat Oyj is 1.20 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Nokian Renkaat Oyj (NKRKF)?
The dividend yield of Nokian Renkaat Oyj is 1.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Nokian Renkaat Oyj (NKRKF)?
The net margin of Nokian Renkaat Oyj is −1.1% (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 Nokian Renkaat Oyj (NKRKF)?
The return on equity (ROE) of Nokian Renkaat Oyj is 0.1% (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 Nokian Renkaat Oyj (NKRKF)?
On an EBIT basis the return on assets of Nokian Renkaat Oyj is 1.8% (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 Nokian Renkaat Oyj (NKRKF)?
The operating margin of Nokian Renkaat Oyj is −6.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nokian Renkaat Oyj (NKRKF)?
Revenue at Nokian Renkaat Oyj is growing +3.7% versus a year earlier (3y avg −8.2%). 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 Nokian Renkaat Oyj (NKRKF)?
Earnings per share at Nokian Renkaat Oyj are growing +197% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Nokian Renkaat Oyj (NKRKF) generate?
The free cash flow of Nokian Renkaat Oyj is −€13.3M (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 Nokian Renkaat Oyj (NKRKF) carry?
The net debt of Nokian Renkaat Oyj is €664M (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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