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Nord Insuretech Group AB (NORDIG) fair value: what the stock is really worth

We calculate from audited financials what Nord Insuretech Group AB is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Jul 12, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? No
  2. Good quality? No
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Technology · SE · ISIN SE0013486255

NI Thin data Jul 12, 2026

Nord Insuretech Group AB

NORDIG · ST

Weakest SetupStrongly overvalued and low quality.

!Fair value kr 0.3315 · Strongly overvalued (−49%)
!Quality 40/100
!Weak Growth (revenue 3y −27.0 %/yr)
!Low debt · negative free cash flow
!Trails peers (3/8)
!Narrow moat 3/100
!Evidence only low, so the estimate is less certain
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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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 1.20 kr 0.1500 Fair Value kr 0.3315 Feb 2021 Sep 2026

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 0.1500 – kr 1.20 · fair‑value band kr 0.2465 – kr 0.4930 · the kr 0.6450 price screens above the kr 0.3315 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Company profile

Nord Insuretech Group AB (publ) operates a digital platform that allows partners to sell various insurance products in Norway. Its platform operates as an intermediary that delivers digital and white-label solutions to consumers. The company also offers insurance-as-a service and software-as-a-service solutions.

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Nord Insuretech Group AB (publ) operates a digital platform that allows partners to sell various insurance products in Norway. Its platform operates as an intermediary that delivers digital and white-label solutions to consumers. The company also offers insurance-as-a service and software-as-a-service solutions. The company was formerly known as Hudya AB (publ) and changed its name to Nord Insuretech Group AB (publ) in January 2021. Nord Insuretech Group AB (publ) was founded in 2016 and is headquartered in Stockholm, Sweden.

Stock analysis

Nord Insuretech Group AB (NORDIG) currently trades at kr 0.6450, while our model-based Fair Value estimate is kr 0.3315, implying the stock looks roughly 94.6% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: kr 0.2465 (bear) to kr 0.4930 (bull), the price of kr 0.6450 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 40/100 (below-average quality), in the Technology sector.

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

Nord Insuretech Group AB reported revenue of 4.3M SEK in FY2025 versus 8.0M SEK in FY2021, a compound −14.6%/yr. Reported net income was −35.6M SEK in FY2025.

Key figures

Market cap 318M SEK (≈ $32.0M) · P/S ratio 74.3 · EPS (TTM) kr −0.1000 · Return on equity −257% · Return on assets (EBIT) −56.1% · Operating margin −1,204% · Revenue (TTM) 4.3M SEK · Revenue growth (YoY) +91.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).

What moves the price

The share trades about 22% below its 52-week high and 95% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at −49%, NORDIG screens richer than that median.

Fair Value models

Bear kr 0.2465 Fair Value kr 0.3315 Bull kr 0.4930
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. 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
NCAV (Graham) kr 0.0300 kr 0.0400 kr 0.0600 54
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.0300 kr 0.0400 kr 0.0600 54

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Quality Score breakdown

Overall quality 40/100

Of which business quality 42 · Market factors (momentum, volatility) 63

Profitability 0
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 85
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

Open the full quality analysis →

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. 0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+31.4%
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.
−27.0%
Revenue growth 7 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.
−41.1%
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.
−71,517.8% (2020) → −809.9% (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

NORDIG screens 95% overvalued. Compare with SAP SE →

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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.Software - Application · 720 stocks

Beats the industry median on 1/5 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside −49% · Below median
Profitability
Return on assets −44% · Bottom 25%
Growth and dividend
Revenue growth 91% · Top 25%

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 1.53× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM) 7.48× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 25
FUTURE (revenue growth)100 · sector 38
PAST (return on equity)0 · sector 16
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 30

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €184.18 €172.46 −6%
Salesforce, Inc CRM $238.22 $342.73 +44%
Shopify Inc SHOP $145.16 $64.36 −56%
ServiceNow, Inc NOW $137.78 $151.56 +10%
Uber Technologies, Inc UBER $69.22 $103.69 +50%
Cadence Design Systems, Inc CDNS $309.09 $225.14 −27%
Snowflake Inc SNOW $334.81 $75.08 −78%
Datadog, Inc DDOG $251.49 $32.92 −87%
Adobe Inc ADBE $238.25 $454.04 +91%
Automatic Data Processing, Inc ADP $263.68 $177.51 −33%

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kr 0.3315 −95%Fair Value
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Cite: Fair Value Calculator (2026). "Nord Insuretech Group AB Fair Value". https://www.fairvalue-calculator.com/stock/NORDIG

Frequently asked questions

Is Nord Insuretech Group AB (NORDIG) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 0.3315 versus a price of kr 0.6450, about −49% upside (overvalued).
What is the fair value of NORDIG?
Our model-based fair value for Nord Insuretech Group AB is kr 0.3315 (as of Jul 12, 2026), built from audited fundamentals. The current price: kr 0.6450.
What is the quality score of NORDIG?
Nord Insuretech Group AB has a Quality Score of 40/100. 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 Nord Insuretech Group AB (NORDIG)?
Our model-based price target is the fair value of kr 0.3315 (as of Jul 12, 2026) from 1 valuation models. Cautious scenario kr 0.2465, optimistic scenario kr 0.4930. It is a calculation from audited fundamentals, not an analyst target.
What is the Nord Insuretech Group AB stock forecast for 2026?
Our models put fair value at kr 0.3315, about −49% upside versus a price of kr 0.6450 (overvalued). Cautious scenario kr 0.2465, optimistic scenario kr 0.4930. The calculation is refreshed regularly with new filings.
What is the revenue of Nord Insuretech Group AB (NORDIG)?
Nord Insuretech Group AB reported trailing-twelve-month revenue of about 4.3M SEK (latest available figure, as of Jul 12, 2026).
What is the intrinsic value of Nord Insuretech Group AB (NORDIG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nord Insuretech Group AB it is kr 0.3315 per share (as of Jul 12, 2026), against a price of kr 0.6450. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Nord Insuretech Group AB stock overvalued or undervalued in 2026?
As of Jul 12, 2026, NORDIG trades above its calculated fair value: price kr 0.6450, fair value kr 0.3315, a gap of about −49% (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 NORDIG?
No. The price is what the market pays today (kr 0.6450); the fair value is what the company's own numbers justify (kr 0.3315). For Nord Insuretech Group AB the two are kr 0.3135 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nord Insuretech Group AB worth?
The market values Nord Insuretech Group AB at about 318M SEK (market capitalisation, as of Jul 12, 2026). Per share that is kr 0.6450; our models calculate a fair value of kr 0.3315 per share.
What do the bullish and bearish scenarios say about NORDIG?
Our models span a range for Nord Insuretech Group AB: cautious scenario kr 0.2465, base kr 0.3315, optimistic kr 0.4930 per share (as of Jul 12, 2026, price kr 0.6450). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Nord Insuretech Group AB (NORDIG)?
Balance-sheet figures for Nord Insuretech Group AB (as of Jul 12, 2026): return on equity −257.0%. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is NORDIG from its 52-week high?
Nord Insuretech Group AB trades at kr 0.6450, about 22% below its 52-week high of kr 0.8300 and 95% above the low of kr 0.3300 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.3315 is for.
Which stocks are comparable to Nord Insuretech Group AB?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, 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 Nord Insuretech Group AB stock attractive at the current price?
The data as of Jul 12, 2026: price kr 0.6450, calculated fair value kr 0.3315 (−49%), Quality Score 40/100, from 1 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 NORDIG calculated?
We run Nord Insuretech Group AB through 1 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 kr 0.3315, 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 13.0 % above its aggregate fair value. Nord Insuretech Group AB 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 Nord Insuretech Group AB (NORDIG)?
The closing price on Sep 24, 2026 was kr 0.6450. Our model-based fair value is kr 0.3315, about −49% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nord Insuretech Group AB right now?
The price sits above even our optimistic bull case (kr 0.4930). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (kr 0.2465 to kr 0.4930) leaves room in how you read the outcome.

Key figures of Nord Insuretech Group AB

How large is the market capitalisation of Nord Insuretech Group AB (NORDIG)?
The market capitalisation of Nord Insuretech Group AB is 318M SEK (≈ $32.0M). 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 Nord Insuretech Group AB (NORDIG)?
The price-to-sales ratio of Nord Insuretech Group AB is 74.3 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nord Insuretech Group AB (NORDIG)?
Earnings per share at Nord Insuretech Group AB are kr −0.1000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Nord Insuretech Group AB (NORDIG)?
The return on equity (ROE) of Nord Insuretech Group AB is −257% (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 Nord Insuretech Group AB (NORDIG)?
On an EBIT basis the return on assets of Nord Insuretech Group AB is −56.1% (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 Nord Insuretech Group AB (NORDIG)?
The operating margin of Nord Insuretech Group AB is −1,204% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nord Insuretech Group AB (NORDIG)?
Revenue at Nord Insuretech Group AB is growing +91.0% versus a year earlier (3y avg −27.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Nord Insuretech Group AB (NORDIG) generate?
The free cash flow of Nord Insuretech Group AB is −63.2M SEK (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 Nord Insuretech Group AB (NORDIG) carry?
The net debt of Nord Insuretech Group AB is 1.8M SEK (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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