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Tieto Oyj (TIETOS) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Tieto Oyj SEK 124, price SEK 211, upside -41.3%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Some data
Sep 28, 2026
Tieto Oyj
TIETOS · STStretched ValuationStrong overvaluation with only moderate quality.
!Fair value kr 123.82 · Strongly overvalued (−41.3%)
!Quality 53/100
!Mixed Growth (revenue 5y +10.1 %/yr)
!Loss-making · -7.6% net margin (FY2025)
✓Moderate debt · generates free cash flow
✓0.4% dividend yield · Cash covered
!Moderate moat 49/100
!Evidence only medium, so the estimate is less certain
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.
How to read this chart
60‑month range kr 150.86 – kr 277.96 · fair‑value band kr 78.95 – kr 168.69 · the kr 211.00 price screens above the kr 123.82 fair value. Dashed = 300-day average. As of Sep 28, 2026.
Company profile
Tieto Oyj operates as a software and digital engineering company in Norway, Sweden, Finland, and internationally. It operates through four segments: Tieto Tech Consulting, Tieto Banktech, Tieto Caretech, and Tieto Indtech Services.
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Tieto Oyj operates as a software and digital engineering company in Norway, Sweden, Finland, and internationally. It operates through four segments: Tieto Tech Consulting, Tieto Banktech, Tieto Caretech, and Tieto Indtech Services. The Tieto Tech Consulting segment provides business advisory and design, data engineering, and other software research and development services. The Tieto Banktech segment offers Banking-as-a-Service platform and software products for payments, cards, wealth management, financial crime prevention, and credit domains. The Tieto Caretech segment provides modular, open, and interoperable software for customers in the health and social care sectors. The Tieto Indtech segment offers software and services to various industries, such as case management, pulp, paper, and fiber; and supports processes, including billing and invoicing and industry messaging, as well as purchase-to-pay process automation. It serves automotive, banking and financial services, education, energy and utilities, healthcare and welfare, manufacturing, public sector, pulp, paper, fibre, packaging and tissue, and telecom sectors. The company was formerly known as TietoEVRY Oyj and changed its name to Tieto Oyj in March 2026. Tieto Oyj was incorporated in 1968 and is headquartered in Espoo, Finland.
Stock analysis
Tieto Oyj (TIETOS) currently trades at kr 211.00, while our model-based Fair Value estimate is kr 123.82, 41.3% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 156.29 per share, and 5 of the 14 models we run sit above the kr 211.00 price.
Bear case: the Earnings-Based group reads lowest at kr 15.93, and 9 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: kr 78.95 (bear) to kr 168.69 (bull), the price of kr 211.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Tieto Oyj reported revenue of €1.9B in FY2025 versus €2.8B in FY2021, a compound −10.0%/yr. Reported net income was −€141M in FY2025.
Key figures
Market cap 25.0B SEK (≈ $2.5B) · P/E ratio 30.1 · P/S ratio 12.0 · EPS (TTM) kr 7.00 · Dividend yield 0.4% · Net margin −7.6% · Return on equity 6.9% · Return on assets (EBIT) 5.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 28% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 44% fair-value upside, at −41%, TIETOS screens richer than that median.
Fair Value models
Bear kr 78.95
Fair Value kr 123.82
Bull kr 168.69
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 4.63 per share) are deliberately not added.
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF
kr 191.46
kr 270.66
kr 423.24
80
Growth DCF
kr 200.46
kr 277.39
kr 413.07
78
Owner Earnings
kr 64.12
kr 100.99
kr 172.01
74
All 14 models by family
DCF Models
FCF DCF
kr 191.46
kr 270.66
kr 423.24
80
Owner Earnings
kr 64.12
kr 100.99
kr 172.01
74
5Y Revenue Exit
kr 84.93
kr 117.25
kr 165.81
73
5Y EBITDA Exit
kr 311.13
kr 502.53
kr 762.68
74
10Y Revenue Exit
kr 124.05
kr 156.29
kr 189.50
68
10Y EBITDA Exit
kr 261.12
kr 400.61
kr 557.45
68
Earnings-Based
EPV
kr 7.38
kr 15.93
kr 23.31
70
Multiples
EV/EBIT
kr 87.84
kr 132.71
kr 177.57
65
EV/EBITDA
kr 458.95
kr 627.52
kr 796.09
67
EV/Revenue
kr 21.28
kr 50.44
kr 79.61
50
Asset-Based
NCAV (Graham)
kr 53.89
kr 72.21
kr 107.78
54
Growth DCF
Growth DCF
kr 200.46
kr 277.39
kr 413.07
78
Rev-Margin DCF
kr 84.93
kr 122.88
kr 173.90
73
Economic Profit
ROIC Compounder
kr 7.38
kr 15.93
kr 23.31
69
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Set up alert →Quality Score breakdown
Overall quality
53/100
Of which business quality 50 · Market factors (momentum, volatility) 62
Profitability
19
Margins and returns on capital today
Quality Growth
3
Are margins and returns improving?
Cashflow
62
Earnings quality: real cash, not paper profit
Fin. Strength
54
Balance sheet, leverage, solvency risk
Investment
97
Disciplined investing over empire-building
Low Volatility
71
Calm price path (market factor)
Momentum
55
Price trend over the last 3–12 months (market factor)
52W Momentum
66
Distance to the 52-week high (market factor)
Net Issuance
82
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−0.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+10.1%
Revenue growth 22 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+3.7%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
5.3% (2020) → 4.1% (2025)
What shareholders gained per year ⓘ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
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−2.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −4.1% a year for the price and −1.3% for the forecasts.
Forecast 2026 (sales)−4.6%
Forecast 2027 (sales)+2.4%
Projected 2028 (sales)+2.3%
Projected 2029 (sales)+2.3%
Projected 2030 (sales)+2.2%
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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
Similar stocks
10 more Information Technology Services stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| International Business Machines Corporation IBM | $219.93 | $186.56 | −15% |
| Accenture plc ACN | $183.37 | $305.06 | +66% |
| Tata Consultancy Services Limited TCS | ₹2,082 | ₹2,993 | +44% |
| Infosys Limited INFY | ₹994.10 | ₹1,691 | +70% |
| HCL Technologies Limited HCLTECH | ₹1,243 | ₹1,926 | +55% |
| Cognizant Technology Solutions Corporation CTSH | $56.84 | $138.62 | +144% |
| Amadeus IT Group AMS | €52.80 | €65.98 | +25% |
| Broadridge Financial Solutions, Inc BR | $161.15 | $159.88 | −1% |
| Fidelity National Information Services, Inc FIS | $33.35 | $32.72 | −2% |
| CDW Corporation CDW | $129.71 | $165.54 | +28% |
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Frequently asked questions
Is Tieto Oyj (TIETOS) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of kr 123.82 versus a price of kr 211.00, about −41% upside (overvalued).
What is the fair value of TIETOS?
Our model-based fair value for Tieto Oyj is kr 123.82 (as of Sep 28, 2026), built from audited fundamentals. The current price: kr 211.00.
What is the quality score of TIETOS?
Tieto Oyj 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 price target for Tieto Oyj (TIETOS)?
Our model-based price target is the fair value of kr 123.82 (as of Sep 28, 2026) from 14 valuation models. Cautious scenario kr 78.95, optimistic scenario kr 168.69. It is a calculation from audited fundamentals, not an analyst target.
What is the Tieto Oyj stock forecast for 2026?
Our models put fair value at kr 123.82, about −41% upside versus a price of kr 211.00 (overvalued). Cautious scenario kr 78.95, optimistic scenario kr 168.69. The calculation is refreshed regularly with new filings.
What is the revenue of Tieto Oyj (TIETOS)?
Tieto Oyj reported trailing-twelve-month revenue of about €1.8B (latest available figure, as of Sep 28, 2026).
Does Tieto Oyj pay a dividend?
Tieto Oyj currently shows a dividend yield of about 0.42% relative to its recent price (as of Sep 28, 2026).
What growth is priced into Tieto Oyj (TIETOS)?
For today's price to be fair in a discounted-cash-flow model, Tieto Oyj would have to grow free cash flow by -2.0 % per year for five years (discount rate 8.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -7.8 % per year. As of Sep 28, 2026.
What discount rate (WACC) does the fair value of TIETOS use?
Our models discount Tieto Oyj at 8.8 %: a base by market capitalisation (mid), damped by beta 0.70, country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Tieto Oyj that is -2.0 % per year a year over ten years, using the same discount rate (8.8 %) and the same formula as our fair value.
How much growth has Tieto Oyj (TIETOS) delivered so far?
Over the past 5 years revenue at Tieto Oyj grew -7.8 % a year. The price currently implies -2.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Tieto Oyj (TIETOS) growing?
The median revenue growth in the sector is +9.9 % a year. That is the yardstick for the growth priced into Tieto Oyj (-2.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tieto Oyj (TIETOS)?
The free-cash-flow yield on the price is 10.19 %: that much free cash flow Tieto Oyj produces per unit of market value. When it exceeds the discount rate of our models (8.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tieto Oyj (TIETOS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tieto Oyj it is kr 123.82 per share (as of Sep 28, 2026), against a price of kr 211.00. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Tieto Oyj stock overvalued or undervalued in 2026?
As of Sep 28, 2026, TIETOS trades above its calculated fair value: price kr 211.00, fair value kr 123.82, a gap of about −41% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TIETOS?
No. The price is what the market pays today (kr 211.00); the fair value is what the company's own numbers justify (kr 123.82). For Tieto Oyj the two are kr 87.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tieto Oyj worth?
The market values Tieto Oyj at about 25.0B SEK (market capitalisation, as of Sep 28, 2026). Per share that is kr 211.00; our models calculate a fair value of kr 123.82 per share.
What do the bullish and bearish scenarios say about TIETOS?
Our models span a range for Tieto Oyj: cautious scenario kr 78.95, base kr 123.82, optimistic kr 168.69 per share (as of Sep 28, 2026, price kr 211.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is TIETOS from its 52-week high?
Tieto Oyj trades at kr 211.00, about 9% below its 52-week high of kr 232.20 and 28% above the low of kr 164.56 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 123.82 is for.
Which stocks are comparable to Tieto Oyj?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Tieto Oyj stock attractive at the current price?
The data as of Sep 28, 2026: price kr 211.00, calculated fair value kr 123.82 (−41%), Quality Score 53/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TIETOS calculated?
We run Tieto Oyj through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 123.82, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Tieto Oyj itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Tieto Oyj (TIETOS)?
The closing price on Oct 2, 2026 was kr 211.00. Our model-based fair value is kr 123.82, about −41% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tieto Oyj right now?
The price sits above even our optimistic bull case (kr 168.69). The favourable scenario is already priced in. Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 78.95 to kr 168.69) leaves room in how you read the outcome.
Key figures of Tieto Oyj
How large is the market capitalisation of Tieto Oyj (TIETOS)?
The market capitalisation of Tieto Oyj is 25.0B SEK (≈ $2.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Tieto Oyj (TIETOS)?
The price-to-earnings ratio of Tieto Oyj is 30.1. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Tieto Oyj (TIETOS)?
The price-to-sales ratio of Tieto Oyj is 12.0 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Tieto Oyj (TIETOS)?
Earnings per share at Tieto Oyj are kr 7.00 (price ÷ EPS = P/E 30.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tieto Oyj (TIETOS)?
The dividend yield of Tieto Oyj is 0.4% (payout 12.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Tieto Oyj (TIETOS)?
The net margin of Tieto Oyj is −7.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Tieto Oyj (TIETOS)?
The return on equity (ROE) of Tieto Oyj is 6.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Tieto Oyj (TIETOS)?
On an EBIT basis the return on assets of Tieto Oyj is 5.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Tieto Oyj (TIETOS)?
The operating margin of Tieto Oyj is 17.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tieto Oyj (TIETOS)?
Revenue at Tieto Oyj is growing −4.8% versus a year earlier (3y avg −14.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Tieto Oyj (TIETOS)?
Earnings per share at Tieto Oyj are growing −12.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tieto Oyj (TIETOS) carry?
The net debt of Tieto Oyj is €560M (fiscal year 2025, ≈ 2.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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