Talenom Oyj (TNOM) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Talenom Oyj €1.12, price €1.17, upside -4.4%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range €1.12 – €15.16 · the €1.17 price screens above the €1.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Talenom Oyj provides accounting and other services for small and medium-sized enterprises in Finland, Sweden, Spain, and internationally.
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Talenom Oyj provides accounting and other services for small and medium-sized enterprises in Finland, Sweden, Spain, and internationally. The company provides financial management software that automates reporting, integrates with banking systems, and provides real-time visibility into financial performance; bookkeeping, financial reporting, tax advisory, labor, and payroll services; and specialized tax advisory service. The company also provides accounting, sales invoicing, invoice payments, payroll, performance monitoring, care, financial management software, and enterprise report planning and reporting solutions. The company was founded in 1972 and is based in Oulu, Finland.
Stock analysis
Talenom Oyj (TNOM) currently trades at €1.17, while our model-based Fair Value estimate is €1.12, implying the stock looks roughly 4.6% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €3.56 per share, and 13 of the 23 models we run sit above the €1.17 price.
Bear case: the Earnings-Based group reads lowest at €0.1200, and 10 of the 23 models stay below the price. Evidence for this calculation is medium.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Talenom Oyj reported revenue of €109M in FY2025 versus €82.8M in FY2021, a compound +7.1%/yr. Reported net income was €464K in FY2025, compounding −54.5%/yr from FY2021.
Key figures
Market cap €54.4M · P/E ratio 29.3 · P/S ratio 0.12 · EPS (TTM) €0.0400 · Dividend yield 4.3% · Net margin 0.4% · Return on equity 4.4% · Return on assets (EBIT) 7.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 67% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 0% fair-value upside, at −4%, TNOM screens richer than that median.
Fair Value models
Bear €1.12Fair Value €1.12Bull €1.12
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.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 ⓘ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.
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.82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−13.6%
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.
+2.2%
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.
+10.9%
Start year 2020 (pandemic). Over 10 years: +12.7% a year
Revenue growth 12 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.
+12.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−41.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−46.2%
Dividend (yield on the price)4.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−46% vs 2%, slowing
Profit margin 2020 to 2025 ⓘ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.20% → 6%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−7.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −9.9% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Specialty Business Services · 249 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−6% · Below median
Profitability
Return on equity (TTM)4% · Below median
Return on assets3% · Below median
Net margin (TTM)25% · Top 25%
Operating margin (TTM)6% · Below median
Growth and dividend
Revenue growth−1% · Below median
Dividend yield (TTM)4.3% · Above median
Balance sheet
Debt / equity1.93× · Highest 25%
Valuation Multiplesvs Specialty Business Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Talenom Oyj Fair Value". https://www.fairvalue-calculator.com/stock/TNOM
Frequently asked questions
Is Talenom Oyj (TNOM) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €1.12 versus a price of €1.17, about −4% upside (fairly valued).
What is the fair value of TNOM?
Our model-based fair value for Talenom Oyj is €1.12 (as of Sep 23, 2026), built from audited fundamentals. The current price: €1.17.
What is the quality score of TNOM?
Talenom Oyj has a Quality Score of 47/100. 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 Talenom Oyj (TNOM)?
Our model-based price target is the fair value of €1.12 (as of Sep 23, 2026) from 24 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Talenom Oyj stock forecast for 2026?
Our models put fair value at €1.12, about −4% upside versus a price of €1.17 (fairly valued). The calculation is refreshed regularly with new filings.
What is the revenue of Talenom Oyj (TNOM)?
Talenom Oyj reported trailing-twelve-month revenue of about €109M (latest available figure, as of Sep 23, 2026).
Does Talenom Oyj pay a dividend?
Talenom Oyj currently shows a dividend yield of about 4.27% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Talenom Oyj (TNOM)?
For today's price to be fair in a discounted-cash-flow model, Talenom Oyj would have to grow free cash flow by -7.9 % per year for five years (discount rate 13.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.9 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of TNOM use?
Our models discount Talenom Oyj at 13.7 %: a base by market capitalisation (micro), damped by beta 1.27, country premium for Finland. 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 Talenom Oyj that is -7.9 % per year a year over ten years, using the same discount rate (13.7 %) and the same formula as our fair value.
How much growth has Talenom Oyj (TNOM) delivered so far?
Over the past 5 years revenue at Talenom Oyj grew +10.9 % a year. The price currently implies -7.9 % 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 Talenom Oyj (TNOM) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Talenom Oyj (-7.9 % 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 Talenom Oyj (TNOM)?
The free-cash-flow yield on the price is 48.07 %: that much free cash flow Talenom Oyj produces per unit of market value. When it exceeds the discount rate of our models (13.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Talenom Oyj (TNOM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Talenom Oyj it is €1.12 per share (as of Sep 23, 2026), against a price of €1.17. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Talenom Oyj stock overvalued or undervalued in 2026?
As of Sep 23, 2026, TNOM trades above its calculated fair value: price €1.17, fair value €1.12, a gap of about −4% (fairly valued). 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 TNOM?
No. The price is what the market pays today (€1.17); the fair value is what the company's own numbers justify (€1.12). For Talenom Oyj the two are €0.0520 per share apart. That gap is exactly why we show both numbers side by side.
How much is Talenom Oyj worth?
The market values Talenom Oyj at about €54.4M (market capitalisation, as of Sep 23, 2026). Per share that is €1.17; our models calculate a fair value of €1.12 per share.
What is the P/E ratio of TNOM?
Talenom Oyj trades at a price-to-earnings ratio of 29.3 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €1.12 is built from several models across several years. Other multiples: PEG 1.8.
What is the PEG ratio of TNOM?
The PEG ratio of Talenom Oyj is 1.84 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Talenom Oyj (TNOM)?
Balance-sheet figures for Talenom Oyj (as of Sep 23, 2026): return on equity 4.4%, debt of 1.93 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is TNOM from its 52-week high?
Talenom Oyj trades at €1.17, about 67% below its 52-week high of €3.54 and 4% above the low of €1.12 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €1.12 is for.
Which stocks are comparable to Talenom Oyj?
From the same area (Industrials) we also value Cintas Corporation, Thomson Reuters Corporation, Copart, Inc, Global Payments Inc, 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 Talenom Oyj stock attractive at the current price?
The data as of Sep 23, 2026: price €1.17, calculated fair value €1.12 (−4%), Quality Score 47/100, from 24 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 TNOM calculated?
We run Talenom Oyj through 24 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 €1.12, 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 13.2 % above its aggregate fair value. Talenom 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 Talenom Oyj (TNOM)?
The closing price on Sep 24, 2026 was €1.17. Our model-based fair value is €1.12, about −4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Talenom Oyj right now?
The price sits above even our optimistic bull case (€1.12). The favourable scenario is already priced in. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Where does the earnings growth of Talenom Oyj (TNOM) come from?
Earnings per share at Talenom Oyj grew +25.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.2 %, EBIT margin +4.7 %, tax rate +5.9 %, residual (interest, one-offs) +0.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Talenom Oyj
How large is the market capitalisation of Talenom Oyj (TNOM)?
The market capitalisation of Talenom Oyj is €54.4M. 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/S ratio of Talenom Oyj (TNOM)?
The price-to-sales ratio of Talenom Oyj is 0.12 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Talenom Oyj (TNOM)?
Earnings per share at Talenom Oyj are €0.0400 (price ÷ EPS = P/E 29.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Talenom Oyj (TNOM)?
The dividend yield of Talenom Oyj is 4.3% (payout 125%). 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 Talenom Oyj (TNOM)?
The net margin of Talenom Oyj is 0.4% (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 Talenom Oyj (TNOM)?
The return on equity (ROE) of Talenom Oyj is 4.4% (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 Talenom Oyj (TNOM)?
On an EBIT basis the return on assets of Talenom Oyj is 7.3% (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 Talenom Oyj (TNOM)?
The operating margin of Talenom Oyj is 5.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Talenom Oyj (TNOM)?
Revenue at Talenom Oyj is growing −0.6% versus a year earlier (3y avg +2.2%). 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 Talenom Oyj (TNOM)?
Earnings per share at Talenom Oyj are growing +10.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Talenom Oyj (TNOM) carry?
The net debt of Talenom Oyj is €97.3M (fiscal year 2025, ≈ 3.7 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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