Nordhealth AS (NORDH) Fair Value & Analysis
Healthcare · NO · Market cap 1.8B NOK
Fair value as of: Jul 12, 2026
From 1 valuation models · updated 29 days ago
Fair value updated Jul 12, 2026, revised from kr 0.1500 to kr 5.84 (+3,793.3%) since Jul 5, 2026. Share price −0.9% over the past month.
Below-average quality, and screening another 74% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 8.72). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (kr 4.36 to kr 8.72) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.
How to read this chart
60‑month range kr 16.10 – kr 46.00 · fair‑value band kr 4.36 – kr 8.72 · the kr 22.80 price screens above the kr 5.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Nordhealth AS (NORDH) currently trades at kr 22.80, while our model-based Fair Value estimate is kr 5.84, implying the stock looks roughly 74.4% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Healthcare 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: low).
Over the trailing twelve months, Nordhealth AS generated revenue of 51.8M NOK at a net margin of -29.3%. Revenue grew 7.9% year over year. It earns a return on equity of -23.3%. Fundamentals as of Jul 12, 2026
Our scenario range runs from kr 4.36 (bear case) to kr 8.72 (bull case); at kr 22.80, 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 44% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -53% fair-value upside, at -74%, NORDH 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.
All 1 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 21
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
Nordhealth AS provides healthcare software solutions in Norway, Finland, Sweden, the United Kingdom, Denmark, DACH, and internationally.
Full company description
Nordhealth AS provides healthcare software solutions in Norway, Finland, Sweden, the United Kingdom, Denmark, DACH, and internationally. Its products include Provet, a practice management software platform for veterinary clinics and enterprise groups, providing appointment scheduling, patient management, electronic health records, billing and invoicing, reporting and analytics, government compliance tools, communication features, inventory management, and workflow automation; Diarium, a PMS for therapists that streamlines therapy sessions, booking, and invoicing; Physica, a PMS for physiotherapists; Psykbase, a PMS for psychologists and psychiatrists; EasyPractice, a PMS for therapists; and various PMS for veterinarians under the Vetserve, Sanimalis, Vetvision, and Vetera names. The company's products comprise Nordhealth Connect, a communication platform for patients and healthcare professionals; and Navisec, a digital learning environment for training and orientation. In addition, it offers services related to the implementation of SaaS systems, such as consultancy services, education, and data conversion. Further, the company provides nordhealth.fi, a consumer booking portal. Nordhealth AS was founded in 2001 and is based in Oslo, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Nordhealth AS reported revenue of kr 50.8M in FY2025 versus kr 20.3M in FY2021, a compound +25.8%/yr. Reported net income was −kr 12.7M in FY2025.
NORDH screens 74% overvalued. Compare with Veeva Systems Inc →
Peer Group
Health Information Services · 126 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.
Valuation Multiples vs Health Information Services median · lower = cheaper
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: the price sits above our fair-value range.
Insider activity: 42/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veeva Systems Inc VEEV | $190.12 | $95.12 | -50% |
| Pro Medicus Limited PME | A$194.84 | A$23.74 | -88% |
| BrightSpring Health Services, Inc BTSG | $68.16 | $21.31 | -69% |
| HealthEquity, Inc HQY | $97.67 | $56.63 | -42% |
| Hinge Health, Inc HNGE | $88.80 | $24.03 | -73% |
| 10x Genomics, Inc TXG | $45.75 | $17.18 | -62% |
| Waystar Holding WAY | $22.69 | $12.86 | -43% |
| Doximity, Inc DOCS | $22.21 | $17.18 | -23% |
| Privia Health Group PRVA | $28.10 | $5.30 | -81% |
| Inventurus Knowledge Solutions Limited IKS | ₹1,846 | ₹860.28 | -53% |
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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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