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

As of Nov 9, 2026: fair value (intrinsic value) of Nord Insuretech Group AB stock SEK 0.37, price SEK 0.70, that is 47.5% below the price, quality 45 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Technology SE · ISIN SE0013486255

NI Nord Insuretech Group AB logo Thin data Nov 10, 2026

Nord Insuretech Group AB

NORDIG · ST
Very expensive, weak quality

Our calculation puts a fair price 48% below what the stock costs today.

Low debt
Revenue last quarter +49% vs. a year ago.
Quality 45/100
Fair value kr 0.3675 · Strongly overvalued
Weak Growth (revenue 3y −27.0 %/yr in SEK)
Negative free cash flow
Trails peers (2/7)
Narrow moat 3/100 · thin data
Thin data
Estimate⚠ Thinly traded
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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 0.3675 Mar 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range kr 0.1500 – kr 1.20 · fair‑value band kr 0.2756 – kr 0.4594 · the kr 0.7000 price screens above the kr 0.3675 fair value. As of Nov 10, 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.

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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 0.7000, while our estimate is kr 0.3675, 48% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: kr 0.2756 (bear) to kr 0.4594 (bull), the price of kr 0.7000 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 45/100 (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 (≈ $32.2M) Micro · P/S ratio 58.0 · EPS (TTM) kr −0.0900 · Return on equity −196% · Return on assets (EBIT) −56.1% (5-year average) · Operating margin −412% · Revenue (TTM) 5.5M SEK · Revenue growth (YoY) +48.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 3 out of 100 (low confidence).

What moves the price

The share trades about 16% below its 52-week high and 112% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at 13% fair-value upside, at −48%, NORDIG screens richer than that median.

Fair Value

Bear kr 0.2756 Fair Value kr 0.3675 Bull kr 0.4594
Price kr 0.7000 · Downside -47.5%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 45/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 77
Are margins and returns getting better?
Cashflow 46
Do the profits arrive as real cash?
Financial strength 52
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 65
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 87
Distance to the 52-week high, does not count
New shares 26
Buys back shares or issues new ones?

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 overvalued: fair value 48% below the price. 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 · 723 stocks

Beats the industry median on 1/5 measures
Overall it trails its industry peers.
Valuation
Quality Score 45 · Below median
Fair Value upside −47.5% · Bottom 25%
Profitability
Return on assets −98.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 48.7% · Top 25%

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 15.15× · 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 (12 months) 57.97× · 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 40
PAST (return on equity)0 · sector 9
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)0 · sector 28

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 Compare
Adobe Inc ADBE $236.70 $463.72 +96% vs NORDIG
Salesforce, Inc CRM $213.48 $342.73 +61% vs NORDIG
Uber Technologies, Inc UBER $70.05 $101.28 +45% vs NORDIG
Intuit Inc INTU $340.44 $459.14 +35% vs NORDIG
ServiceNow, Inc NOW $99.61 $112.17 +13% vs NORDIG
SAP SE SAP €209.95 €173.59 −17% vs NORDIG
Cadence Design Systems, Inc CDNS $331.64 $225.48 −32% vs NORDIG
Automatic Data Processing, Inc ADP $305.44 $150.40 −51% vs NORDIG
Shopify Inc SHOP $146.61 $64.96 −56% vs NORDIG
Snowflake Inc SNOW $295.76 $73.81 −75% vs NORDIG

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Nord Insuretech Group AB: fair value per Fair Value Calculator

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 Nov 10, 2026, our estimate of fair value is kr 0.3675 versus a price of kr 0.7000, about 48% lower (overvalued).
What is the fair value of NORDIG?
Our estimate for Nord Insuretech Group AB is kr 0.3675 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 0.7000.
What is the quality score of NORDIG?
Nord Insuretech Group AB has a Quality Score of 45/100. 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 calculated price target is the estimate of kr 0.3675 (as of Nov 10, 2026). Cautious scenario kr 0.2756, optimistic scenario kr 0.4594. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Nord Insuretech Group AB stock forecast for 2026?
Our estimate puts fair value at kr 0.3675, about 48% lower versus a price of kr 0.7000 (overvalued). Cautious scenario kr 0.2756, optimistic scenario kr 0.4594. 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 5.5M SEK (latest available figure, as of Nov 10, 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 0.3675 per share (as of Nov 10, 2026), against a price of kr 0.7000.
Is Nord Insuretech Group AB stock overvalued or undervalued in 2026?
As of Nov 10, 2026, NORDIG trades above its calculated fair value: price kr 0.7000, fair value kr 0.3675, a gap of about −48% (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 0.7000); the fair value is what the company's own numbers justify (kr 0.3675). For Nord Insuretech Group AB the two are kr 0.3325 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 Nov 10, 2026). Per share that is kr 0.7000; our models calculate a fair value of kr 0.3675 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 0.2756, base kr 0.3675, optimistic kr 0.4594 per share (as of Nov 10, 2026, price kr 0.7000). 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 Nov 10, 2026): return on equity −195.9%. They feed the Quality Score of 45/100, 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 0.7000, about 16% below its 52-week high of kr 0.8300 and 112% above the low of kr 0.3300 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.3675 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 Nov 10, 2026: price kr 0.7000, calculated fair value kr 0.3675 (−48%), Quality Score 45/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% 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 Nov 9, 2026 was kr 0.7000. Our estimate is kr 0.3675, about 48% lower (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 0.4594). The favourable scenario is already priced in. Weak quality (45/100) 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.

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 (≈ $32.2M). 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 Nord Insuretech Group AB (NORDIG)?
The price-to-sales ratio of Nord Insuretech Group AB is 58.0 (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 −0.0900. 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 −196% (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 −412% (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 +48.7% 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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