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Tekova Oy (TEKOVA) Fair Value & Analysis

Industrials · FI · Market cap €52.9M

TO Tekova Oy TEKOVA · HE
Price€1.24
Fair Value€3.52
Upside+183.9%
Quality71/100
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Mixed Growth
Thin margins · 0.0% net margin
generates free cash flow
Trails peers (4/12)
Wide moat 67/100
Evidence: High Range €1.99 – €6.96 Share as image

Fair value as of: Jul 19, 2026

From 25 valuation models · updated 22 days ago

Share price +3.3% over the past month.

A solid business, screening 184% undervalued on our models.

What matters now

  • The rarer combination: high quality (71/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (€1.99). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (€1.99 to €6.96). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (20 months)

€1.61 €0.6871 Fair Value €3.52 Dec 2024 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

20‑month range €0.6871 – €1.61 · fair‑value band €1.99 – €6.96 · the €1.24 price screens below the €3.52 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Tekova Oy (TEKOVA) currently trades at €1.24, while our model-based Fair Value estimate is €3.52, implying the stock looks roughly 183.9% undervalued today. The Quality Score stands at 71/100 (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.

The stock trades on a trailing P/E of 6.7. Fundamentals as of Jul 19, 2026

Our scenario range runs from €1.99 (bear case) to €6.96 (bull case); at €1.24, 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 25% below its 52-week high and 60% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 184%, TEKOVA 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
Residual Income €1.33 €2.26 €39.72 76
Growth DCF €1.02 €1.40 €2.00 72
Gordon GGM €0.3000 €0.5000 €0.6500 70
All 25 models by family
DCF Models
FCF DCF €1.07 €1.33 €2.10 38
5Y Revenue Exit €2.13 €3.68 €6.96 39
5Y EBITDA Exit €2.15 €3.73 €6.83 41
5Y P/E Exit €2.55 €5.63 €9.89 38
10Y Revenue Exit €1.66 €3.71 €5.18 36
10Y EBITDA Exit €1.74 €3.75 €7.36 37
10Y P/E Exit €1.99 €4.48 €8.71 35
Earnings-Based
Graham-Dodd €1.28 €8.91 €12.51 54
Lynch FV €4.61 €6.58 €8.55 50
PEG = 1.0 €4.61 €6.58 €8.55 46
EPV €1.74 €1.90 €2.03 59
Dividend Discount
Gordon GGM €0.3000 €0.5000 €0.6500 70
DDM Multi-Stage €0.3000 €0.4700 €0.5400 61
Multiples
P/E Multiple €2.96 €3.95 €4.93 63
P/S Multiple €2.40 €3.20 €3.99 58
P/B Multiple €1.20 €1.60 €1.99 55
EV/EBIT €3.42 €4.42 €5.43 53
EV/EBITDA €2.74 €3.52 €4.30 54
EV/Revenue €2.56 €3.48 €4.40 43
Asset-Based
NCAV (Graham) €0.1800 €0.2400 €0.3500 50
Growth DCF
Growth DCF €1.02 €1.40 €2.00 72
Rev-Margin DCF €2.33 €4.15 €7.94 67
Economic Profit
Residual Income €1.33 €2.26 €39.72 76
ROIC Compounder €1.74 €1.90 €2.03 67
Growth Earnings
Growth-Adj P/E €6.02 €8.60 €11.19 68

Widest divergence: Growth Earnings (€8.60) versus Asset-Based (€0.2400). Highest evidence: Residual Income (76).

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Key figures & financial health

Free cash flow €2.4M FY2025
P/E ratio 6.7
EPS (TTM) €0.1900

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

Quality Score breakdown

Overall quality 71/100

Of which business quality 70 · Market factors (momentum, volatility) 53

Profitability 87
Margins and returns on capital today
Quality Growth 81
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 57
Distance to the 52-week high (market factor)
Net Issuance 82
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

Tekova Oy engages in the construction of commercial, office, logistics, production, and sports facilities in Finland. The company was incorporated in 2018 and is headquartered in Vantaa, Finland.

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

Revenue & earnings trend

FY2020 – FY2025 · reported fiscal years

Tekova Oy reported revenue of €111M in FY2025 versus €34.5M in FY2020, a compound +26.3%/yr. Reported net income was €8.2M in FY2025, compounding +35.6%/yr from FY2020.

Growth Quality 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€111M
Latest YoY
+68.9%
Avg. 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.
+26.3%
Revenue +26.3%/yr
FY20 €34.5M
FY23 €55.9M
FY24 €65.5M
FY25 €111M
Net income +35.6%/yr
FY20 €1.8M
FY23 €2.5M
FY24 €5.0M
FY25 €8.2M

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Cite: Fair Value Calculator (2026). "Tekova Oy Fair Value". https://www.fairvalue-calculator.com/stock/TEKOVA

Peer Group

Engineering & Construction · 839 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 71 · Top 25%
Fair Value upside +184% · Top 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) 0% · Below median
Revenue growth 0% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 6.4× · Cheaper than 75% of peers
P/B 3.94× · Pricier than 75% of peers
P/FCF 25.2× · Pricier than 75% of peers
PEG 0.26× · Cheaper 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 100 · sector 16
FUTURE 0 · sector 17
PAST 0 · sector 26
HEALTH 0 · sector 94
DIVIDEND 0 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Tekova Oy (TEKOVA) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €3.52 versus a price of €1.24, about +184% (undervalued).
What is the fair value of TEKOVA?
Our model-based fair value for Tekova Oy is €3.52 (as of Jul 19, 2026), built from audited fundamentals. The current price is €1.24.
What is the quality score of TEKOVA?
Tekova Oy has a Quality Score of 71/100. 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 net profit margin of TEKOVA?
The net profit margin of Tekova Oy is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. 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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