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Panostaja Oyj (PNA1V) Fair Value & Analysis

Industrials · FI · Market cap €15.6M

PO Panostaja Oyj PNA1V · HE
Price€0.2760
Fair Value€0.8280
Upside+200.0%
Quality46/100
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Strengths

Trades 67% below our fair value of €0.8280
Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +2.0 %/yr)
!Loss-making · -2.8% net margin
!Trails peers (5/14)
!Narrow moat 19/100
Mixed Growth (revenue 5y +2.0 %/yr)
Loss-making · -2.8% net margin
Moderate debt · generates free cash flow
Trails peers (5/14)
Narrow moat 19/100
Evidence: Medium Range €0.5244 – €1.39 Share as image

Fair value as of: Aug 13, 2026

From 13 valuation models · updated 13 days ago

Fair value updated Aug 13, 2026, revised from €1.61 to €0.8280 (−48.6%) since Jul 17, 2026. Share price −5.2% over the past month.

Below-average quality, trading 67% below our fair value.

What runs behind every stock

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

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What matters now

  • The price is below even our cautious bear case (€0.5244). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (€0.5244 to €1.39). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€0.6900 €0.2650 Fair Value €0.8280 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range €0.2650 – €0.6900 · fair‑value band €0.5244 – €1.39 · the €0.2760 price screens below the €0.8280 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Panostaja Oyj (PNA1V) currently trades at €0.2760, while our model-based Fair Value estimate is €0.8280, implying the stock looks roughly 200.0% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Panostaja Oyj generated revenue of €133M at a net margin of -1.9%. Revenue declined 4.5% year over year. It earns a return on equity of -0.2%. Net debt stands at €41.3M. Fundamentals as of Aug 13, 2026

Our scenario range runs from €0.5244 (bear case) to €1.39 (bull case); at €0.2760, the current price sits below 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 37% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -22% fair-value upside, at 200%, PNA1V screens cheaper 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 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
Growth DCF €0.4800 €0.7100 €1.06 80
Rev-Margin DCF €0.5300 €1.02 €1.63 74
Gordon GGM €0.0400 €0.0500 €0.0600 70
All 13 models by family
DCF Models
FCF DCF €0.4600 €0.7100 €1.10 38
Owner Earnings €0.2300 €0.4200 €0.7300 31
5Y Revenue Exit €0.5300 €1.00 €1.68 39
5Y EBITDA Exit €0.9300 €1.68 €2.66 41
10Y Revenue Exit €0.4600 €0.8300 €1.24 36
10Y EBITDA Exit €0.7000 €1.21 €1.80 37
Dividend Discount
Gordon GGM €0.0400 €0.0500 €0.0600 70
DDM Multi-Stage €0.0400 €0.0600 €0.0700 61
Multiples
EV/EBITDA €1.63 €2.37 €3.11 54
EV/Revenue €0.6800 €1.23 €1.77 43
Asset-Based
NCAV (Graham) €0.2600 €0.3500 €0.5200 50
Growth DCF
Growth DCF €0.4800 €0.7100 €1.06 80
Rev-Margin DCF €0.5300 €1.02 €1.63 74

Widest divergence: Multiples (€1.23) versus Dividend Discount (€0.0500). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/S ratio 0.12 TTM
Net margin -2.8% TTM
Return on equity -0.2% TTM
Return on assets 0.9% TTM
Operating margin -4.9% TTM
EPS (TTM) €-0.0200
More key figures
Growth
Revenue (TTM) €130M TTM
Revenue growth (YoY) -7.9% 3y avg +2.0%
Balance sheet & cash flow
Free cash flow €7.4M FY2025
Net debt €41.3M FY2025 · ≈ 5.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 43 · Market factors (momentum, volatility) 30

Profitability 24
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 79
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

Panostaja Oyj is a private equity firm specializing in investments through corporate acquisitions, industry consolidations, buyout, growth capital and in small and medium-sized companies through acquisitions in sectors undergoing growth. The firm invests in diverse sectors with a focus on software and services and communications services sectors.

Full company description

Panostaja Oyj is a private equity firm specializing in investments through corporate acquisitions, industry consolidations, buyout, growth capital and in small and medium-sized companies through acquisitions in sectors undergoing growth. The firm invests in diverse sectors with a focus on software and services and communications services sectors. The firm invests in the development of operating models that strengthen competitive advantage. The firm prefers to invest in Finnish service and software companies or SMEs in Finland. It invests in companies with enterprise values between "5 million ($5.53 million) and "25 million ($27.65 million) and net sales between and "5 million ($5.75 million) and and "50 million ($57.53 million). The firm takes majority stakes in companies. Panostaja Oyj was founded in 1984 and is based in Tampere, Finland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Panostaja Oyj reported revenue of €146M in FY2025 versus €133M in FY2021, a compound +2.4%/yr. Reported net income was −€3.0M in FY2025.

Growth Quality 34/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€146M
Latest YoY
+9.2%
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.
+2.0%
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.
+2.0%
Avg. revenue growth/yr (25Y) 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.
−2.0%
Value creation/yr 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
Revenue +2.4%/yr
FY21 €133M
FY22 €138M
FY23 €136M
FY24 €134M
FY25 €146M
Net income
FY21 −€1.7M
FY22 €1.3M
FY23 −€2.9M
FY24 −€4.0M
FY25 −€3.0M

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Cite: Fair Value Calculator (2026). "Panostaja Oyj Fair Value". https://www.fairvalue-calculator.com/stock/PNA1V

Peer Group

Specialty Business Services · 257 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 46 · Below median
Fair Value upside +200% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) -5% · Bottom 25%
Revenue growth -8% · Bottom 25%
Dividend yield (TTM) 2.1% · Below median
Debt / equity 1.33× · Higher than 75% of peers

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/B 0.66× · Cheaper than 75% of peers
P/S (TTM) 0.14× · Cheaper than 75% of peers
P/FCF 2.4× · Cheaper than median
EV/EBITDA 4.7× · Cheaper than 75% of peers
PEG 3.22× · Pricier than 75% of peers

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
VALUE100 · sector 25
FUTURE0 · sector 27
PAST0 · sector 33
HEALTH34 · sector 91
DIVIDEND43 · sector 46

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

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10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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RB Global, Inc RBA C$120.52 C$49.14 -59%
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UL Solutions Inc ULS $76.68 $33.62 -56%
Wolters Kluwer N.V WKL €68.88 €101.27 +47%
Aramark ARMK $59.08 $13.18 -78%

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Frequently asked questions

Is Panostaja Oyj (PNA1V) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €0.8280 versus a price of €0.2760, about +200% (undervalued).
What is the fair value of PNA1V?
Our model-based fair value for Panostaja Oyj is €0.8280 (as of Aug 13, 2026), built from audited fundamentals. The current price: €0.2760.
What is the quality score of PNA1V?
Panostaja Oyj has a Quality Score of 46/100. 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 Panostaja Oyj (PNA1V)?
Panostaja Oyj reported trailing-twelve-month revenue of about €133M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of PNA1V?
The net profit margin of Panostaja Oyj is about -1.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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