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Sanoma Oyj (SANOMA) Fair Value & Analysis

Consumer Defensive · FI · Market cap €1.4B

SO Sanoma Oyj SANOMA · HE
Price€9.13
Fair Value€3.12
Upside-65.8%
Quality58/100
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Mixed Growth
Thin margins · 1.9% net margin
Low debt · generates free cash flow
4.76% dividend yield
Trails peers (3/15)
Narrow moat 28/100
Evidence: High Range €3.12 – €3.37 Share as image

Fair value as of: Jul 19, 2026

From 24 valuation models · updated 22 days ago

Share price +7.7% over the past month.

A solid business, but screening 66% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€3.37). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (€3.12 to €3.37), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

€12.97 €5.30 Fair Value €3.12 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €5.30 – €12.97 · fair‑value band €3.12 – €3.37 · the €9.13 price screens above the €3.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

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Analysis

Sanoma Oyj (SANOMA) currently trades at €9.13, while our model-based Fair Value estimate is €3.12, implying the stock looks roughly 65.8% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Consumer Defensive 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, Sanoma Oyj generated revenue of €1.3B at a net margin of 1.9%. It earns a return on equity of 3.8%. Net debt stands at €486M. The stock trades on a trailing P/E of 61.7. Fundamentals as of Jul 19, 2026

Our scenario range runs from €3.12 (bear case) to €3.37 (bull case); at €9.13, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 16% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 17% fair-value upside, at -66%, SANOMA 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 €5.60 €7.75 €11.07 80
Residual Income €3.07 €2.96 €2.31 76
Rev-Margin DCF €4.60 €7.52 €11.13 74
All 24 models by family
DCF Models
FCF DCF €5.36 €7.62 €11.42 38
Owner Earnings €11.24 €15.28 €22.07 31
5Y Revenue Exit €4.60 €7.32 €11.27 39
5Y EBITDA Exit €11.96 €20.04 €30.74 41
5Y P/E Exit €2.15 €3.08 €4.22 38
10Y Revenue Exit €4.75 €6.66 €8.68 36
10Y EBITDA Exit €8.98 €13.84 €19.11 37
10Y P/E Exit €3.53 €4.27 €4.90 35
Earnings-Based
Graham-Dodd €0.8300 €1.02 €1.15 54
EPV €3.17 €3.89 €4.48 59
Dividend Discount
Gordon GGM €3.04 €3.28 €3.63 70
DDM Multi-Stage €3.04 €3.62 €4.37 61
Multiples
P/E Multiple €2.02 €2.69 €3.37 63
P/S Multiple €1.56 €2.08 €2.60 58
P/B Multiple €1.56 €2.08 €2.60 55
EV/EBIT €6.68 €9.60 €12.52 53
EV/EBITDA €20.33 €27.80 €35.27 54
EV/Revenue €4.56 €7.41 €10.26 43
Asset-Based
NCAV (Graham) €2.25 €3.01 €4.49 50
Growth DCF
Growth DCF €5.60 €7.75 €11.07 80
Rev-Margin DCF €4.60 €7.52 €11.13 74
Economic Profit
Residual Income €3.07 €2.96 €2.31 76
ROIC Compounder €3.17 €3.89 €4.48 72
Growth Earnings
Growth-Adj P/E €1.42 €2.04 €2.65 68

Widest divergence: Growth DCF (€7.52) versus Earnings-Based (€1.02). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €1.3B
Net margin 1.9%
Return on equity 3.8%
Free cash flow €149M FY2025
P/E ratio 58.9
Operating margin -13.2%
More key figures
EPS (TTM) €0.1500
Dividend yield 4.8%
EPS growth (YoY) -32.1%
Net debt €486M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 51

Profitability 31
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 85
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

Sanoma Oyj operates as a media and learning company in Finland, the Netherlands, Poland, Spain, Belgium, Italy, and internationally. It operates in two segments: Sanoma Learning and Sanoma Media Finland.

Full company description

Sanoma Oyj operates as a media and learning company in Finland, the Netherlands, Poland, Spain, Belgium, Italy, and internationally. It operates in two segments: Sanoma Learning and Sanoma Media Finland. The Sanoma Learning segment offers printed and digital learning content, as well as digital learning and teaching platforms for K12, such as primary, secondary, and vocational education. The Sanoma Media Finland segment provides information, experiences, inspiration, and entertainment services through multiple media platforms, such as newspapers, TV, radio, events, and magazines, online, and mobile channels. This segment offers its products under the Helsingin Sanomat, Ilta-Sanomat, Aamulehti, Me Naiset, Aku Ankka, Nelonen, Ruutu, Supla, and Radio Suomipop brand names. It provides festivals and events, marketing, event marketing, digital subscription services, video and audio-on-demand, custom publishing, books, film distribution, and printing services. The company was founded in 1889 and is headquartered in Helsinki, Finland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sanoma Oyj reported revenue of €1.3B in FY2025 versus €1.3B in FY2021, a compound +1.0%/yr. Reported net income was €19.9M in FY2025, compounding −33.2%/yr from FY2021.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€1.3B
Latest YoY
−3.1%
Avg. growth/yr (3Y)
+0.1%
Avg. growth/yr (5Y)
+4.2%
Avg. growth/yr (25Y)
−7.3%
Revenue +1.0%/yr
FY21 €1.3B
FY22 €1.3B
FY23 €1.4B
FY24 €1.3B
FY25 €1.3B
Net income −33.2%/yr
FY21 €100M
FY22 €76.2M
FY23 −€4.3M
FY24 €40.5M
FY25 €19.9M

SANOMA screens 66% overvalued. Compare with New Oriental Education & Technology Group →

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

Peer Group

Education & Training Services · 148 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 58 · Above median
Fair Value upside −66% · Bottom 25%
Return on equity (TTM) 4% · Below median
Return on assets 4% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) -13% · Bottom 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 4.8% · Top 25%
Debt / equity 0.49× · Higher than 75% of peers

Valuation Multiples vs Education & Training Services median · lower = cheaper

P/E (TTM) 58.9× · Pricier than 75% of peers
P/B 2.27× · Pricier than median
P/S (TTM) 1.27× · Pricier than median
P/FCF 11.1× · Pricier than 75% of peers
EV/EBITDA 8.1× · Pricier than median
PEG 5.19× · 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.

VALUE 0 · sector 37
FUTURE 0 · sector 24
PAST 15 · sector 18
HEALTH 75 · sector 95
DIVIDEND 95 · sector 66

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

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 Education & Training Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
New Oriental Education & Technology Group EDUN 966.48 MXN 897.37 MXN -7%
TAL Education Group TAL $10.24 $15.60 +52%
Laureate Education, Inc LAUR $36.45 $41.45 +14%
Physicswallah Limited PWL ₹131.59 ₹14.81 -89%
Grand Canyon Education, Inc LOPE $149.00 $152.01 +2%
Covista Inc CVSA $116.22 $135.45 +17%
Stride, Inc LRN $83.39 $139.45 +67%
Universal Technical Institute, Inc UTI $40.33 $21.35 -47%
Perdoceo Education Corporation PRDO $31.66 $41.45 +31%
Strategic Education, Inc STRA $84.18 $105.48 +25%

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Frequently asked questions

Is Sanoma Oyj (SANOMA) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €3.12 versus a price of €9.13, about −66% (overvalued).
What is the fair value of SANOMA?
Our model-based fair value for Sanoma Oyj is €3.12 (as of Jul 19, 2026), built from audited fundamentals. The current price is €9.13.
What is the quality score of SANOMA?
Sanoma Oyj has a Quality Score of 58/100. 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 Sanoma Oyj (SANOMA)?
Sanoma Oyj reported trailing-twelve-month revenue of about €1.3B (latest available figure, as of Jul 19, 2026).
What is the net profit margin of SANOMA?
The net profit margin of Sanoma Oyj is about 1.9%, meaning it keeps roughly 1.9% of revenue as net income. Based on the latest reported figures.
Does Sanoma Oyj pay a dividend?
Sanoma Oyj currently shows a dividend yield of about 4.58% relative to its recent price (as of Jul 19, 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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