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Nurminen Logistics Oyj (NLG1V) Fair Value & Analysis

Industrials · FI · Market cap €56.2M

NL Nurminen Logistics Oyj NLG1V · HE
Price€0.6340
Fair Value€0.8000
Upside+26.2%
Quality43/100
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Expensive Growth
Thin margins · 2.0% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (6/14)
Narrow moat 44/100
Evidence: Medium Range €0.6000 – €1.00 Share as image

Fair value as of: Jul 11, 2026

From 25 valuation models · updated 30 days ago

Share price −8.9% over the past month.

Below-average quality, screening 26% undervalued on our models.

What matters now

  • Our model range runs from €0.6000 (bear) to €1.00 (bull), base €0.8000. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 43/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

€2.27 €0.5260 Fair Value €0.8000 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range €0.5260 – €2.27 · fair‑value band €0.6000 – €1.00 · the €0.6340 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 Jul 11, 2026.

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Analysis

Nurminen Logistics Oyj (NLG1V) currently trades at €0.6340, while our model-based Fair Value estimate is €0.8000, implying the stock looks roughly 26.2% undervalued today. The Quality Score stands at 43/100 (below-average quality), in the Industrials 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: medium), always confirm before acting.

Over the trailing twelve months, Nurminen Logistics Oyj generated revenue of €102M at a net margin of 2.0%. Revenue declined 21.2% year over year. It earns a return on equity of 11.0%. Net debt stands at €33.4M. Fundamentals as of Jul 11, 2026

Our scenario range runs from €0.6000 (bear case) to €1.00 (bull case); at €0.6340, the current price sits within 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 46% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -28% fair-value upside, at 26%, NLG1V 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 €2.20 €3.19 €4.46 80
Residual Income €0.3300 €0.3500 €0.3700 76
Rev-Margin DCF €1.85 €2.90 €4.19 74
All 25 models by family
DCF Models
FCF DCF €2.22 €3.34 €4.85 38
5Y Revenue Exit €1.85 €2.89 €4.23 39
5Y EBITDA Exit €2.48 €4.13 €6.12 41
5Y P/E Exit €1.25 €1.70 €2.16 38
10Y Revenue Exit €1.94 €2.87 €4.15 36
10Y EBITDA Exit €2.33 €3.63 €5.46 37
10Y P/E Exit €1.65 €2.14 €2.73 35
Earnings-Based
Graham-Dodd €0.2600 €1.04 €1.42 54
Lynch FV €0.2600 €0.3700 €0.4800 50
PEG = 1.0 €0.2600 €0.3700 €0.4800 46
EPV €1.02 €1.14 €1.24 59
Dividend Discount
Gordon GGM €0.3200 €0.5300 €0.6900 70
DDM Multi-Stage €0.3200 €0.5100 €0.5800 61
Multiples
P/E Multiple €0.6000 €0.8000 €1.00 63
P/S Multiple €0.4900 €0.6500 €0.8100 58
P/B Multiple €0.4900 €0.6500 €0.8100 55
EV/EBIT €2.32 €3.08 €3.85 53
EV/EBITDA €2.98 €3.97 €4.96 54
EV/Revenue €1.66 €2.36 €3.07 43
Asset-Based
NCAV (Graham) €0.2100 €0.2900 €0.4300 50
Growth DCF
Growth DCF €2.20 €3.19 €4.46 80
Rev-Margin DCF €1.85 €2.90 €4.19 74
Economic Profit
Residual Income €0.3300 €0.3500 €0.3700 76
ROIC Compounder €1.10 €1.31 €1.55 72
Growth Earnings
Growth-Adj P/E €0.4600 €0.6500 €0.8500 68

Widest divergence: Growth DCF (€2.90) versus Asset-Based (€0.2900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €102M
Revenue growth (YoY) -21.2%
Net margin 2.0%
Return on equity 11.0%
Free cash flow €20.1M FY2025
P/E ratio 28.3
More key figures
Operating margin 9.7%
EPS (TTM) €0.0300
Net debt €33.4M FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 46 · Market factors (momentum, volatility) 28

Profitability 46
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 17
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 48
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€109M
Latest YoY
+4.4%
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.
−3.7%
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.
+6.3%
Avg. growth/yr (25Y) 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.
+0.0%
Revenue −6.2%/yr
FY21 €141M
FY22 €123M
FY23 €128M
FY24 €105M
FY25 €109M
Net income −28.5%/yr
FY21 €11.8M
FY22 €1.5M
FY23 €14.3M
FY24 €7.1M
FY25 €3.1M

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Cite: Fair Value Calculator (2026). "Nurminen Logistics Oyj Fair Value". https://www.fairvalue-calculator.com/stock/NLG1V

Peer Group

Railroads · 112 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 43 · Bottom 25%
Fair Value upside +26% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 8% · Top 25%
Net margin (TTM) 2% · Bottom 25%
Operating margin (TTM) 10% · Above median
Revenue growth -21% · Bottom 25%
Debt / equity 0.56× · Higher than median

Valuation Multiples vs Railroads median · lower = cheaper

P/E (TTM) 23.2× · Pricier than median
P/B 1.89× · Pricier than median
P/S (TTM) 0.63× · Cheaper than median
P/FCF 3.2× · Pricier than median
EV/EBITDA 3.7× · Cheaper than 75% of peers
PEG 16.00× · 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 68 · sector 27
FUTURE 0 · sector 19
PAST 44 · sector 31
HEALTH 72 · sector 88
DIVIDEND 0 · sector 41

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 Railroads stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Union Pacific Corporation UNP $301.75 $144.60 -52%
CSX Corporation CSX $49.41 $12.85 -74%
Canadian Pacific Kansas City Limited CP $92.91 $35.00 -62%
Canadian National Railway Company CNI $128.22 $92.63 -28%
Norfolk Southern Corporation NSC $327.47 $117.90 -64%
Westinghouse Air Brake Technologies Corporation WAB $259.71 $144.80 -44%
Beijing-Shanghai High-Speed Railway Co 601816 ¥4.82 ¥5.65 +17%
CRRC Corporation 601766 ¥5.65 ¥9.53 +69%
Daqin Railway Co 601006 ¥4.85 ¥6.24 +29%
Hyundai Rotem Company 064350 167,700 KRW 125,182 KRW -25%

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Frequently asked questions

Is Nurminen Logistics Oyj (NLG1V) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of €0.8000 versus a price of €0.6340, about +26% (undervalued).
What is the fair value of NLG1V?
Our model-based fair value for Nurminen Logistics Oyj is €0.8000 (as of Jul 11, 2026), built from audited fundamentals. The current price is €0.6340.
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 revenue of Nurminen Logistics Oyj (NLG1V)?
Nurminen Logistics Oyj reported trailing-twelve-month revenue of about €102M (latest available figure, as of Jul 11, 2026).
What is the net profit margin of NLG1V?
The net profit margin of Nurminen Logistics Oyj is about 2.0%, meaning it keeps roughly 2.0% 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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