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Pexip Holding (PEXIP) Fair Value & Analysis

Technology · NO · Market cap 8.6B NOK

PH Pexip Holding PEXIP · OL
Pricekr 81.50
Fair Valuekr 39.81
Upside-51.2%
Quality83/100
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Healthy Growth
Highly profitable · 21.1% net margin
Low debt · generates free cash flow
0.36% dividend yield
Ranks above peers (10/14)
Wide moat 79/100
Evidence: High Range kr 29.86 – kr 49.76 Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 25 days ago

Share price −3.0% over the past month.

A strong business, but screening 51% overvalued on our models.

What matters now

  • A high-quality business (quality 83/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (kr 49.76). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

kr 84.60 kr 6.96 Fair Value kr 39.81 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range kr 6.96 – kr 84.60 · fair‑value band kr 29.86 – kr 49.76 · the kr 81.50 price screens above the kr 39.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Pexip Holding (PEXIP) currently trades at kr 81.50, while our model-based Fair Value estimate is kr 39.81, implying the stock looks roughly 51.2% overvalued today. The Quality Score stands at 83/100 (high quality), in the Technology 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: high).

Over the trailing twelve months, Pexip Holding generated revenue of 135M NOK at a net margin of 21.1%. Revenue grew 29.6% year over year. It earns a return on equity of 17.5%. The balance sheet holds a net cash position of 677M NOK. Fundamentals as of Jul 15, 2026

Our scenario range runs from kr 29.86 (bear case) to kr 49.76 (bull case); at kr 81.50, 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 2% below its 52-week high and 59% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -51%, PEXIP 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF kr 49.27 kr 94.06 kr 162.67 80
Residual Income kr 14.11 kr 16.64 kr 28.47 76
Rev-Margin DCF kr 32.74 kr 53.78 kr 83.37 74
All 26 models by family
DCF Models
FCF DCF kr 50.76 kr 87.88 kr 179.89 38
Owner Earnings kr 32.68 kr 62.20 kr 117.48 31
5Y Revenue Exit kr 32.74 kr 54.30 kr 84.22 39
5Y EBITDA Exit kr 37.33 kr 64.57 kr 100.17 41
5Y P/E Exit kr 37.86 kr 65.74 kr 99.38 38
10Y Revenue Exit kr 37.55 kr 60.96 kr 98.96 36
10Y EBITDA Exit kr 41.37 kr 68.67 kr 113.12 37
10Y P/E Exit kr 41.73 kr 69.56 kr 112.42 35
Earnings-Based
Graham-Dodd kr 13.54 kr 81.23 kr 113.22 54
Lynch FV kr 23.16 kr 33.08 kr 43.01 50
PEG = 1.0 kr 23.16 kr 33.08 kr 43.01 46
EPV kr 23.94 kr 27.14 kr 29.90 59
Dividend Discount
Gordon GGM kr 21.86 kr 43.56 kr 65.96 70
DDM Multi-Stage kr 21.86 kr 37.64 kr 45.98 61
Multiples
P/E Multiple kr 29.86 kr 39.81 kr 49.76 63
P/S Multiple kr 22.06 kr 29.42 kr 36.77 58
P/B Multiple kr 25.38 kr 33.84 kr 42.30 55
EV/EBIT kr 37.12 kr 48.26 kr 59.41 53
EV/EBITDA kr 32.74 kr 42.42 kr 52.11 54
EV/Revenue kr 24.27 kr 33.10 kr 41.92 43
Asset-Based
NCAV (Graham) kr 7.43 kr 9.96 kr 14.86 50
Growth DCF
Growth DCF kr 49.27 kr 94.06 kr 162.67 80
Rev-Margin DCF kr 32.74 kr 53.78 kr 83.37 74
Economic Profit
Residual Income kr 14.11 kr 16.64 kr 28.47 76
ROIC Compounder kr 27.83 kr 37.68 kr 51.23 72
Growth Earnings
Growth-Adj P/E kr 32.91 kr 47.02 kr 61.13 68

Widest divergence: DCF Models (kr 64.57) versus Asset-Based (kr 9.96). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 135M NOK
Revenue growth (YoY) +29.6%
Net margin 21.1%
Return on equity 17.5%
Free cash flow 359M NOK FY2025
P/E ratio 32.2
More key figures
Operating margin 42.4%
EPS (TTM) kr 2.55
Dividend yield 0.4%
EPS growth (YoY) +110%
Net cash 677M NOK FY2021

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 83/100

Of which business quality 81 · Market factors (momentum, volatility) 59

Profitability 64
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 96
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 77
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

Pexip Holding ASA, a video technology company, offers end-to-end video conferencing platform and digital infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It provides self-hosted software application and as-a-service deployment options for enterprise video conferencing, built on its proprietary Infinity technology.

Full company description

Pexip Holding ASA, a video technology company, offers end-to-end video conferencing platform and digital infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It provides self-hosted software application and as-a-service deployment options for enterprise video conferencing, built on its proprietary Infinity technology. The company also offers Pexip Secure and Custom Spaces platform, a video meetings that are self-hosted on-premises or in a private cloud, such as Pexip Secure Meetings for national security and defense, government, justice, and healthcare; Pexip Private AI platform, an AI powered captions and translations in secure and custom meetings; Pexip Secure Scheduler which offers secure scheduling for secure meetings; and Pexip Video Platform, a video platform designed for secure and custom environments demanding for strict control and regulatory compliance. In addition, the company provides Pexip Connected Spaces platform that connects any video meeting room device to any meeting platform, including Connect for Microsoft Teams and Teams Rooms; Connect for Google Meet and Google Meet Rooms; Connect for U.S. Government; and Connect for Zoom Rooms. Pexip Holding ASA was founded in 2011 and is headquartered in Oslo, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Pexip Holding reported revenue of kr 1.2B in FY2025 versus kr 806M in FY2021, a compound +11.1%/yr. Reported net income was kr 208M in FY2025.

Growth Quality 97/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.2B NOK
Latest YoY
+9.8%
Avg. growth/yr (3Y)
+12.3%
Avg. growth/yr (5Y)
+12.6%
Avg. growth/yr (7Y)
+28.3%
Revenue +11.1%/yr
FY21 kr 806M
FY22 kr 867M
FY23 kr 994M
FY24 kr 1.1B
FY25 kr 1.2B
Net income
FY21 −kr 157M
FY22 −kr 262M
FY23 −kr 79.8M
FY24 kr 118M
FY25 kr 208M

PEXIP screens 51% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "Pexip Holding Fair Value". https://www.fairvalue-calculator.com/stock/PEXIP

Peer Group

Software - Application · 709 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 83 · Top 25%
Fair Value upside −51% · Below median
Return on equity (TTM) 17% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 21% · Top 25%
Operating margin (TTM) 42% · Top 25%
Revenue growth 30% · Top 25%
Dividend yield (TTM) 0.4% · Below median

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 32.2× · Pricier than median
P/B 0.58× · Cheaper than 75% of peers
P/S (TTM) 6.65× · Pricier than 75% of peers
P/FCF 2.5× · Cheaper than median
EV/EBITDA 14.0× · Cheaper than median

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 · sector 0
FUTURE 100 · sector 38
PAST 70 · sector 13
HEALTH 100 · sector 98
DIVIDEND 7 · sector 28

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

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Pexip Holding (PEXIP) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of kr 39.81 versus a price of kr 81.50, about −51% (overvalued).
What is the fair value of PEXIP?
Our model-based fair value for Pexip Holding is kr 39.81 (as of Jul 15, 2026), built from audited fundamentals. The current price is kr 81.50.
What is the quality score of PEXIP?
Pexip Holding has a Quality Score of 83/100. 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 Pexip Holding (PEXIP)?
Pexip Holding reported trailing-twelve-month revenue of about 135M NOK (latest available figure, as of Jul 15, 2026).
What is the net profit margin of PEXIP?
The net profit margin of Pexip Holding is about 21.1%, meaning it keeps roughly 21.1% of revenue as net income. Based on the latest reported figures.
Does Pexip Holding pay a dividend?
Pexip Holding currently shows a dividend yield of about 0.40% relative to its recent price (as of Jul 15, 2026).

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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