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Orion Oyj ADR (ORINY) Fair Value & Analysis

Healthcare · US · Market cap $10.7B · ISIN US68628Y1047

What is Orion Oyj ADR really worth?

OO Orion Oyj ADR logo Orion Oyj ADR ORINY · US
Price$45.77
Fair Value$34.21
Upside−25.2%
Quality63/100

A solid business, but trading 34% above our fair value of $34.21.

As of Aug 21, 2026, the fair value of Orion Oyj ADR is $34.21 per share against a price of $45.77, so the fair value sits 25% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Highly profitable · 27.1% net margin
Low debt · generates free cash flow
Ranks above peers (10/14)
Wide moat 89/100

Risks

!Mixed Growth (revenue 5y +11.9 %/yr)

For context

·3.93% dividend yield
Evidence: High Range $19.98 – $53.95

Fair value as of: Aug 21, 2026

From 26 valuation models · updated 16 days ago

Share price +6.4% over the past month.

What runs behind every stock

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

What matters now

  • The model range is unusually wide ($19.98 to $53.95). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

$45.82 $10.00 Fair Value $34.21 Jul 2015 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range $10.00 – $45.82 · fair‑value band $19.98 – $53.95 · the $45.77 price screens above the $34.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Orion Oyj ADR (ORINY) currently trades at $45.77, while our model-based Fair Value estimate is $34.21, implying the stock looks roughly 33.8% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of $41.82 per share, and 2 of the 26 models we run sit above the $45.77 price. Bear case: the Asset-Based group reads lowest at $3.94, and 24 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Orion Oyj ADR generated revenue of $2.0B at a net margin of 27.1%. Revenue grew 17.8% year over year. It earns a return on equity of 48.4%. Net debt stands at $144M. Fundamentals as of Aug 21, 2026

Our scenario range runs from $19.98 (bear case) to $53.95 (bull case); at $45.77, 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 near its 52-week high and 50% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −18% fair-value upside, at −25%, ORINY screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.2592 per share, which is 0.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF best evidence $11.47 $17.42 $26.38 80
Growth DCF $11.69 $17.02 $24.57 78
Owner Earnings $22.75 $34.70 $52.65 76
All 26 models by family
DCF Models
FCF DCF best evidence $11.47 $17.42 $26.38 80
Owner Earnings $22.75 $34.70 $52.65 76
5Y Revenue Exit $15.37 $25.31 $37.99 72
5Y EBITDA Exit $23.20 $39.78 $59.09 74
5Y P/E Exit $25.04 $43.19 $62.15 70
10Y Revenue Exit $13.30 $22.01 $33.66 66
10Y EBITDA Exit $18.81 $32.00 $49.60 67
10Y P/E Exit $19.98 $34.35 $51.91 63
Earnings-Based
Graham-Dodd $14.94 $43.92 $58.07 65
Lynch FV $9.18 $13.12 $17.05 61
PEG = 1.0 $9.18 $13.12 $17.05 57
EPV $22.21 $25.86 $29.07 74
Dividend Discount
Gordon GGM $9.70 $20.17 $32.01 66
DDM Multi-Stage $9.70 $15.65 $21.17 66
Multiples
P/E Multiple $36.26 $48.34 $60.43 63
P/S Multiple $22.68 $30.24 $37.80 58
P/B Multiple $19.82 $26.43 $33.04 55
EV/EBIT $37.08 $49.35 $61.63 66
EV/EBITDA $33.30 $44.32 $55.33 67
EV/Revenue $18.40 $26.17 $33.95 53
Asset-Based
NCAV (Graham) $2.94 $3.94 $5.87 54
Growth DCF
Growth DCF $11.69 $17.02 $24.57 78
Rev-Margin DCF $15.37 $25.23 $36.34 72
Economic Profit
Residual Income $14.66 $19.59 $137.55 64
ROIC Compounder $23.30 $28.48 $33.98 72
Growth Earnings
Growth-Adj P/E $29.27 $41.82 $54.36 67

Widest divergence: Growth Earnings ($41.82) versus Asset-Based ($3.94). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 17.4 as of Jun 22, 2026
P/S ratio 4.41 P/E × margin
EPS (TTM) $2.18 price ÷ EPS = P/E 17.4
Dividend yield 3.9% payout 82.6%
Net margin 25.4% FY2025
Return on equity 48.4% TTM
More key figures
Profitability
Return on assets (EBIT) 25.4% avg 5y
Operating margin 27.5% TTM
Growth
Revenue (TTM) $2.0B TTM
Revenue growth (YoY) +17.8% 3y avg +12.1%
EPS growth (YoY) +46.7%
Balance sheet & cash flow
Free cash flow $219M FY2025
Net debt $144M FY2025 · ≈ 0.7 yrs of FCF

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 62 · Market factors (momentum, volatility) 79

Profitability 94
Margins and returns on capital today
Quality Growth 74
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 0
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Orion Oyj develops, manufactures, and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients (APIs) in Finland, Scandinavia, rest of Europe, North America, and internationally.

Full company description

Orion Oyj develops, manufactures, and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients (APIs) in Finland, Scandinavia, rest of Europe, North America, and internationally. It offers pharmaceutical products, which includes Nubeqa for the treatment of prostate cancer; Entacapone, Stalevo, Comtess, and Comtan to treat Parkinson's disease; Burana for inflammatory pain; Divina series for menopausal symptoms; Simdax for acute decompensated heart failure; Fareston for breast cancer; Quetiapine products for antipsychotic; Trexan for rheumatoid arthritis and cancer; Easyhaler product portfolio for asthma and COPD; and Dexdor, Precedex, and Dexmedetomidine products for human use. The company also provides Salmeterol/fluticasone Easyhaler, Budesonide/formoterol Easyhaler, Formoterol Easyhaler, Budesonide Easyhaler, Beclomet Easyhaler, and Buventol Easyhaler drugs for the treatment of asthma and chronic obstructive pulmonary disease. In addition, it offers veterinary drugs comprising Bonqat, Clevor, Domosedan, Domitor, Antisedan, Dexdomitor, Domosedan Gel, Sileo, and Tessie; APIs for generic compounds and proprietary products, as well as contract manufacturing services; and markets and sells drugs and products manufactured by other companies. Additionally, the company provides self-care products, including non-prescription medicines, cosmetics, dietary supplements, vitamins, and skincare products. It also offers its products online. The company has a licensing agreement with Tenax Therapeutics, Inc. to develop oral levosimendan (TNX-103) for pulmonary hypertension in heart failure with preserved ejection fraction (PH-HFpEF); and Bayer for the development and commercialisation of darolutamide Nubeqa. Orion Oyj was founded in 1917 and is headquartered in Espo, Finland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Orion Oyj ADR reported revenue of €1.9B in FY2025 versus €1.0B in FY2021, a compound +16.1%/yr. Reported net income was €481M in FY2025, compounding +25.5%/yr from FY2021.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$1.9B
Latest YoY
+22.5%
Avg. revenue 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.
+12.1%
Avg. revenue 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.
+11.9%
Avg. revenue growth/yr (21Y) 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.
−0.1%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+7.6% · in USD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+3.7%
Dividend yield3.9%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 3.7% vs 10Y 1.3%, steady
Operating margin (EBIT) 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.26.0% (2020) → 33.4% (2025) · rising
Worst earnings drop39% (2019) · in USD
Revenue +16.1%/yr
FY21 €1.0B
FY22 €1.3B
FY23 €1.2B
FY24 €1.5B
FY25 €1.9B
Net income +25.5%/yr
FY21 €194M
FY22 €350M
FY23 €217M
FY24 €330M
FY25 €481M
Character of growth · EPS growth decomposed (2014-2025) +1.6 % p.a.
Revenue per share +1.2 %

of which total revenue +4.5 % · buybacks/dilution −3.1 %

EBIT margin +0.4 %
Tax rate +0.0 %
Residual (interest, one-offs) −0.1 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

ORINY screens 34% overvalued. Compare with Eli Lilly and Company →

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Cite: Fair Value Calculator (2026). "Orion Oyj ADR Fair Value". https://www.fairvalue-calculator.com/stock/ORINY

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Drug Manufacturers - General · 75 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 63 · Above median
Fair Value upside −25% · Above median
Return on equity (TTM) 48% · Top 25%
Return on assets 22% · Top 25%
Net margin (TTM) 27% · Top 25%
Operating margin (TTM) 27% · Above median
Revenue growth 18% · Top 25%
Dividend yield (TTM) 3.9% · Top 25%
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Drug Manufacturers - General median · lower = cheaper

P/E (TTM) 17.4× · Cheaper than median
P/B 8.30× · Pricier than 75% of peers
P/S (TTM) 5.46× · Pricier than median
P/FCF 48.6× · Pricier than 75% of peers
EV/EBITDA 14.7× · Pricier than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE89 · sector 29
PAST100 · sector 49
HEALTH96 · sector 94
DIVIDEND79 · sector 42

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

Insider activity: 45/100

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 Drug Manufacturers - General stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
Eli Lilly and Company LLY $1,176 $389.47 −67%
Johnson & Johnson, JNJ $275.23 $169.04 −39%
AbbVie Inc ABBV $256.46 $67.72 −74%
Roche Holding RO CHF 374.60 CHF 306.54 −18%
Merck & Co MRK €131.98 €101.38 −23%
Novartis AG NOVN CHF 123.74 CHF 114.90 −7%
Novo Nordisk A/S NOVOB kr 295.50 kr 409.46 +39%
Amgen Inc AMGN $437.23 $252.02 −42%
Gilead Sciences, Inc GILD $151.00 $146.50 −3%
Pfizer Inc PFE $28.02 $24.87 −11%

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Frequently asked questions

Is Orion Oyj ADR (ORINY) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of $34.21 versus a price of $45.77, about −25% upside (overvalued).
What is the fair value of ORINY?
Our model-based fair value for Orion Oyj ADR is $34.21 (as of Aug 21, 2026), built from audited fundamentals. The current price: $45.77.
What is the quality score of ORINY?
Orion Oyj ADR has a Quality Score of 63/100. 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 Orion Oyj ADR (ORINY)?
Our model-based price target is the fair value of $34.21 (as of Aug 21, 2026) from 26 valuation models. Cautious scenario $19.98, optimistic scenario $53.95. It is a calculation from audited fundamentals, not an analyst target.
What is the Orion Oyj ADR stock forecast for 2026?
Our models put fair value at $34.21, about −25% upside versus a price of $45.77 (overvalued). Cautious scenario $19.98, optimistic scenario $53.95. The calculation is refreshed regularly with new filings.
What is the revenue of Orion Oyj ADR (ORINY)?
Orion Oyj ADR reported trailing-twelve-month revenue of about $2.0B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of ORINY?
The net profit margin of Orion Oyj ADR is about 27.1%, meaning it keeps roughly 27.1% of revenue as net income. Based on the latest reported figures.
Does Orion Oyj ADR pay a dividend?
Orion Oyj ADR currently shows a dividend yield of about 3.93% relative to its recent price (as of Aug 21, 2026).
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