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AS Tallink Grupp, (TALLINK) Fair Value & Analysis

Industrials · FI · Market cap €454M

AT AS Tallink Grupp, TALLINK · HE
Price€0.6220
Fair Value€0.9304
Upside+49.6%
Quality53/100
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Mixed Growth
Thin margins · 3.7% net margin
Low debt · generates free cash flow
9.74% dividend yield
Trails peers (5/14)
Narrow moat 29/100
Evidence: High Range €0.5643 – €0.9304 Share as image

Fair value as of: Jul 13, 2026

From 24 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from €0.6100 to €0.9304 (+52.5%) since Jun 24, 2026. Share price +1.0% over the past month.

A solid business, screening 50% undervalued on our models.

What matters now

  • Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from €0.5643 (bear) to €0.9304 (bull), base €0.9304. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 53/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€0.6400 €0.3520 Fair Value €0.9304 May 2021 Aug 2026

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

How to read this chart

60‑month range €0.3520 – €0.6400 · fair‑value band €0.5643 – €0.9304 · the €0.6220 price screens below the €0.9304 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

AS Tallink Grupp, (TALLINK) currently trades at €0.6220, while our model-based Fair Value estimate is €0.9304, implying the stock looks roughly 49.6% undervalued today. The Quality Score stands at 53/100 (solid 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: high), always confirm before acting.

Over the trailing twelve months, AS Tallink Grupp, generated revenue of €777M at a net margin of 3.7%. Revenue grew 8.8% year over year. It earns a return on equity of 3.9%. Net debt stands at €432M. Fundamentals as of Jul 13, 2026

Our scenario range runs from €0.5643 (bear case) to €0.9304 (bull case); at €0.6220, 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 about 6% below its 52-week high and 11% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 67% fair-value upside, at 50%, TALLINK 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 €0.4600 €0.6900 €1.01 80
Residual Income €0.6800 €0.6500 €0.4900 76
Rev-Margin DCF €0.2600 €0.5200 €0.8300 74
All 24 models by family
DCF Models
FCF DCF €0.4400 €0.6800 €1.05 38
Owner Earnings €0.3300 €0.5400 €0.8600 31
5Y Revenue Exit €0.2600 €0.5000 €0.8300 39
5Y EBITDA Exit €0.7800 €1.40 €2.15 41
5Y P/E Exit €0.1300 €0.2900 €0.4600 38
10Y Revenue Exit €0.3200 €0.5300 €0.7700 36
10Y EBITDA Exit €0.6200 €1.07 €1.59 37
10Y P/E Exit €0.2600 €0.4000 €0.5400 35
Earnings-Based
Graham-Dodd €0.1600 €0.2900 €0.3700 54
EPV €0.0200 €0.0700 59
Dividend Discount
Gordon GGM €0.4700 €0.6000 €0.7200 70
DDM Multi-Stage €0.4700 €0.6100 €0.7600 61
Multiples
P/E Multiple €0.3700 €0.4900 €0.6100 63
P/S Multiple €0.3000 €0.3900 €0.4900 58
P/B Multiple €0.3000 €0.3900 €0.4900 55
EV/EBIT €0.4000 €0.6600 €0.9300 53
EV/EBITDA €1.25 €1.81 €2.36 54
EV/Revenue €0.1700 €0.4100 €0.6600 43
Asset-Based
NCAV (Graham) €0.5000 €0.6800 €1.01 50
Growth DCF
Growth DCF €0.4600 €0.6900 €1.01 80
Rev-Margin DCF €0.2600 €0.5200 €0.8300 74
Economic Profit
Residual Income €0.6800 €0.6500 €0.4900 76
ROIC Compounder €0.0200 €0.0700 72
Growth Earnings
Growth-Adj P/E €0.2600 €0.3700 €0.4800 68

Widest divergence: Asset-Based (€0.6800) versus Earnings-Based (€0.0200). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €777M
Revenue growth (YoY) +8.8%
Net margin 3.7%
Return on equity 3.9%
Free cash flow €73.7M FY2025
P/E ratio 15.3
More key figures
Operating margin -11.5%
EPS (TTM) €0.0400
Dividend yield 9.7%
EPS growth (YoY) +10.2%
Net debt €432M FY2025

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

Quality Score breakdown

Overall quality 53/100

Of which business quality 52 · Market factors (momentum, volatility) 64

Profitability 25
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 80
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

AS Tallink Grupp, together with its subsidiaries, provides marine transportation services in the Baltic Sea. The company operates through Estonia-Finland Routes, Estonia-Sweden Routes, Finland-Sweden Routes, and Other segments.

Full company description

AS Tallink Grupp, together with its subsidiaries, provides marine transportation services in the Baltic Sea. The company operates through Estonia-Finland Routes, Estonia-Sweden Routes, Finland-Sweden Routes, and Other segments. It offers mini-cruise, passenger transport, and ro-ro cargo services on routes between Estonia, Finland, and Sweden under the Tallink Silja Line brand. The company also operates hotels in Tallinn and Riga; Burger King franchise in the Baltics and restaurants of the fast-food chain in Estonia, Latvia, and Lithuania; and international travel retail business with various retail outlets on board its vessels and on shore. In addition, it operates a fleet of 11 vessels that include cruise ferries and ro-pax ferries. The company was founded in 1989 and is based in Tallinn, Estonia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AS Tallink Grupp, reported revenue of €765M in FY2025 versus €477M in FY2021, a compound +12.5%/yr. Reported net income was €17.3M in FY2025.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€765M
Latest YoY
−2.6%
Avg. growth/yr (3Y)
−0.3%
Avg. growth/yr (5Y)
+11.6%
Avg. growth/yr (23Y)
+6.5%
Revenue +12.5%/yr
FY21 €477M
FY22 €771M
FY23 €835M
FY24 €786M
FY25 €765M
Net income
FY21 −€56.6M
FY22 €13.9M
FY23 €78.9M
FY24 €40.3M
FY25 €17.3M

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Cite: Fair Value Calculator (2026). "AS Tallink Grupp, Fair Value". https://www.fairvalue-calculator.com/stock/TALLINK

Peer Group

Marine Shipping · 231 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 53 · Below median
Fair Value upside +50% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 3% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) -12% · Bottom 25%
Revenue growth 9% · Above median
Dividend yield (TTM) 9.7% · Top 25%
Debt / equity 0.42× · Higher than median

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 15.3× · Pricier than median
P/B 0.70× · Cheaper than median
P/S (TTM) 0.68× · Cheaper than 75% of peers
P/FCF 7.1× · Pricier than median
EV/EBITDA 7.0× · Pricier 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 99 · sector 29
FUTURE 44 · sector 18
PAST 15 · sector 27
HEALTH 79 · sector 88
DIVIDEND 100 · sector 47

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 Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,828 ₹1,041 -43%
A.P. Møller - Mærsk A/S MAERSKA kr 16,520 kr 3,033 -82%
COSCO SHIPPING Holdings 601919 ¥13.98 ¥40.37 +189%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.57 +27%
HMM Co 011200 20,050 KRW 33,855 KRW +69%
Ningbo Zhoushan Port Company 601018 ¥3.35 ¥5.58 +67%
Qingdao Port International Co 601298 ¥8.88 ¥15.97 +80%
JSW Infrastructure Limited JSWINFRA ₹330.05 ₹126.31 -62%
Wan Hai Lines Ltd 2615 80.70 TWD 212.79 TWD +164%
Wallenius Wilhelmsen ASA WAWI kr 137.70 kr 50.56 -63%

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Frequently asked questions

Is AS Tallink Grupp, (TALLINK) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of €0.9304 versus a price of €0.6220, about +50% (undervalued).
What is the fair value of TALLINK?
Our model-based fair value for AS Tallink Grupp, is €0.9304 (as of Jul 13, 2026), built from audited fundamentals. The current price is €0.6220.
What is the quality score of TALLINK?
AS Tallink Grupp, has a Quality Score of 53/100. 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 AS Tallink Grupp, (TALLINK)?
AS Tallink Grupp, reported trailing-twelve-month revenue of about €777M (latest available figure, as of Jul 13, 2026).
What is the net profit margin of TALLINK?
The net profit margin of AS Tallink Grupp, is about 3.7%, meaning it keeps roughly 3.7% of revenue as net income. Based on the latest reported figures.
Does AS Tallink Grupp, pay a dividend?
AS Tallink Grupp, currently shows a dividend yield of about 9.12% relative to its recent price (as of Jul 13, 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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