Nurminen Logistics Oyj (NLG1V) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Nurminen Logistics Oyj €0.80, price €0.59, upside +35.6%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range €0.5260 – €2.27 · fair‑value band €0.6000 – €1.00 · the €0.5900 price screens below the €0.8000 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Nurminen Logistics Oyj provides logistics services in Finland, Sweden, and Baltic countries. The company offers rail transport, handling hall for heavy goods, terminal, and forwarding and customs clearance services, as well as multimodal transport services. It also provides warehousing and transport of dangerous substances.
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Nurminen Logistics Oyj provides logistics services in Finland, Sweden, and Baltic countries. The company offers rail transport, handling hall for heavy goods, terminal, and forwarding and customs clearance services, as well as multimodal transport services. It also provides warehousing and transport of dangerous substances. Nurminen Logistics Oyj was founded in 1886 and is headquartered in Helsinki, Finland.
Stock analysis
Nurminen Logistics Oyj (NLG1V) currently trades at €0.5900, while our model-based Fair Value estimate is €0.8000, implying the stock looks roughly 26.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €3.21 per share, and 19 of the 25 models we run sit above the €0.5900 price.
Bear case: the Asset-Based group reads lowest at €0.2900, and 6 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: €0.6000 (bear) to €1.00 (bull), the price of €0.5900 sits below 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 43/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Nurminen Logistics Oyj reported revenue of €109M in FY2025 versus €141M in FY2021, a compound −6.2%/yr. Reported net income was €3.1M in FY2025, compounding −28.5%/yr from FY2021.
Key figures
Market cap €56.2M · P/E ratio 19.7 · P/S ratio 0.56 · EPS (TTM) €0.0300 · Dividend yield 6.6% · Net margin 2.8% · Return on equity 11.0% · Return on assets (EBIT) 16.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 45% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 0% fair-value upside, at 36%, NLG1V screens cheaper than that median.
Fair Value models
Bear €0.6000Fair Value €0.8000Bull €1.00
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€0.0220 per share) are deliberately not added.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 ⓘ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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+4.4%
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.
−3.7%
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.
+6.3%
Start year 2020 (pandemic). Over 10 years: +9.8% 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.
+0.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+14.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.5%
Dividend (yield on the price)6.6%
Profit margin 2020 to 2025 ⓘ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.−1% → 13%
⚠ Revenue per share shrinking 5.1%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−18.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −20.0% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Railroads · 115 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside+36% · Top 25%
Profitability
Return on equity (TTM)11% · Top 25%
Return on assets8% · Top 25%
Net margin (TTM)2% · Bottom 25%
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth−21% · Bottom 25%
Dividend yield (TTM)6.6% · Top 25%
Balance sheet
Debt / equity0.56× · Above median
Valuation Multiplesvs Railroads median · lower = cheaper
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Is Nurminen Logistics Oyj (NLG1V) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €0.8000 versus a price of €0.5900, about +36% upside (undervalued).
What is the fair value of NLG1V?
Our model-based fair value for Nurminen Logistics Oyj is €0.8000 (as of Sep 23, 2026), built from audited fundamentals. The current price: €0.5900.
What is the quality score of NLG1V?
Nurminen Logistics Oyj has a Quality Score of 43/100. 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 Nurminen Logistics Oyj (NLG1V)?
Our model-based price target is the fair value of €0.8000 (as of Sep 23, 2026) from 25 valuation models. Cautious scenario €0.6000, optimistic scenario €1.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Nurminen Logistics Oyj stock forecast for 2026?
Our models put fair value at €0.8000, about +36% upside versus a price of €0.5900 (undervalued). Cautious scenario €0.6000, optimistic scenario €1.00. The calculation is refreshed regularly with new filings.
What is the revenue of Nurminen Logistics Oyj (NLG1V)?
Nurminen Logistics Oyj reported trailing-twelve-month revenue of about €102M (latest available figure, as of Sep 23, 2026).
Does Nurminen Logistics Oyj pay a dividend?
Nurminen Logistics Oyj currently shows a dividend yield of about 6.59% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Nurminen Logistics Oyj (NLG1V)?
For today's price to be fair in a discounted-cash-flow model, Nurminen Logistics Oyj would have to grow free cash flow by -18.2 % per year for five years (discount rate 12.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.3 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of NLG1V use?
Our models discount Nurminen Logistics Oyj at 12.9 %: a base by market capitalisation (micro), country premium for Finland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Nurminen Logistics Oyj that is -18.2 % per year a year over ten years, using the same discount rate (12.9 %) and the same formula as our fair value.
How much growth has Nurminen Logistics Oyj (NLG1V) delivered so far?
Over the past 5 years revenue at Nurminen Logistics Oyj grew +6.3 % a year. The price currently implies -18.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Nurminen Logistics Oyj (NLG1V) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Nurminen Logistics Oyj (-18.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Nurminen Logistics Oyj (NLG1V)?
The free-cash-flow yield on the price is 41.51 %: that much free cash flow Nurminen Logistics Oyj produces per unit of market value. When it exceeds the discount rate of our models (12.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nurminen Logistics Oyj (NLG1V)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nurminen Logistics Oyj it is €0.8000 per share (as of Sep 23, 2026), against a price of €0.5900. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Nurminen Logistics Oyj stock overvalued or undervalued in 2026?
As of Sep 23, 2026, NLG1V trades below its calculated fair value: price €0.5900, fair value €0.8000, a gap of about +36% (undervalued). 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 NLG1V?
No. The price is what the market pays today (€0.5900); the fair value is what the company's own numbers justify (€0.8000). For Nurminen Logistics Oyj the two are €0.2100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nurminen Logistics Oyj worth?
The market values Nurminen Logistics Oyj at about €56.2M (market capitalisation, as of Sep 23, 2026). Per share that is €0.5900; our models calculate a fair value of €0.8000 per share.
What do the bullish and bearish scenarios say about NLG1V?
Our models span a range for Nurminen Logistics Oyj: cautious scenario €0.6000, base €0.8000, optimistic €1.00 per share (as of Sep 23, 2026, price €0.5900). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NLG1V?
Nurminen Logistics Oyj trades at a price-to-earnings ratio of 19.7 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €0.8000 is built from several models across several years. Other multiples: PEG 16.0, P/B 1.9, P/S 0.6, EV/EBITDA 3.7.
What is the PEG ratio of NLG1V?
The PEG ratio of Nurminen Logistics Oyj is 16.00 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Nurminen Logistics Oyj (NLG1V)?
Balance-sheet figures for Nurminen Logistics Oyj (as of Sep 23, 2026): return on equity 11.0%, debt of 0.56 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is NLG1V from its 52-week high?
Nurminen Logistics Oyj trades at €0.5900, about 45% below its 52-week high of €1.08 and 1% above the low of €0.5820 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €0.8000 is for.
Which stocks are comparable to Nurminen Logistics Oyj?
From the same area (Industrials) we also value Union Pacific Corporation, CSX Corporation, Canadian Pacific Kansas City Limited, Norfolk Southern Corporation, 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 Nurminen Logistics Oyj stock attractive at the current price?
The data as of Sep 23, 2026: price €0.5900, calculated fair value €0.8000 (+36%), Quality Score 43/100, from 25 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 NLG1V calculated?
We run Nurminen Logistics Oyj through 25 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 €0.8000, 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 14.0 % above its aggregate fair value. Nurminen Logistics Oyj currently trades 36 % below its own fair value, and the market average says nothing about that. 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 Nurminen Logistics Oyj (NLG1V)?
The closing price on Sep 24, 2026 was €0.5900. Our model-based fair value is €0.8000, about +36% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nurminen Logistics Oyj right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Nurminen Logistics Oyj
How large is the market capitalisation of Nurminen Logistics Oyj (NLG1V)?
The market capitalisation of Nurminen Logistics Oyj is €56.2M. 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 Nurminen Logistics Oyj (NLG1V)?
The price-to-sales ratio of Nurminen Logistics Oyj is 0.56 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nurminen Logistics Oyj (NLG1V)?
Earnings per share at Nurminen Logistics Oyj are €0.0300 (price ÷ EPS = P/E 19.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nurminen Logistics Oyj (NLG1V)?
The dividend yield of Nurminen Logistics Oyj is 6.6% (payout 130%). 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 Nurminen Logistics Oyj (NLG1V)?
The net margin of Nurminen Logistics Oyj is 2.8% (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 Nurminen Logistics Oyj (NLG1V)?
The return on equity (ROE) of Nurminen Logistics Oyj is 11.0% (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 Nurminen Logistics Oyj (NLG1V)?
On an EBIT basis the return on assets of Nurminen Logistics Oyj is 16.0% (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 Nurminen Logistics Oyj (NLG1V)?
The operating margin of Nurminen Logistics Oyj is 9.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nurminen Logistics Oyj (NLG1V)?
Revenue at Nurminen Logistics Oyj is growing −21.2% versus a year earlier (3y avg −3.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Nurminen Logistics Oyj (NLG1V) carry?
The net debt of Nurminen Logistics Oyj is €33.4M (fiscal year 2025, ≈ 1.7 yrs of FCF). 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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