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Talenom Oyj (TNOM) Fair Value & Analysis

Industrials · FI · Market cap €53.3M

TO Talenom Oyj TNOM · HE
Price€1.48
Fair Value€0.1900
Upside-87.1%
Quality47/100
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Mixed Growth
Highly profitable · 25.4% net margin
High debt · generates free cash flow
4.20% dividend yield
Trails peers (3/12)
Moderate moat 45/100
Evidence: High Range €0.1600 – €0.2700 Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from €0.2100 to €0.1900 (−9.5%) since Jun 24, 2026. Share price +26.5% over the past month.

Below-average quality, and screening another 87% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€0.2700). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

€15.16 €1.12 Fair Value €0.1900 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €1.12 – €15.16 · fair‑value band €0.1600 – €0.2700 · the €1.48 price screens above the €0.1900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Talenom Oyj (TNOM) currently trades at €1.48, while our model-based Fair Value estimate is €0.1900, implying the stock looks roughly 87.1% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Industrials 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, Talenom Oyj generated revenue of €109M at a net margin of 0.4%. Revenue grew 2.4% year over year. It earns a return on equity of 5.6%. Net debt stands at €97.3M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €0.1600 (bear case) to €0.2700 (bull case); at €1.48, 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 share trades about 62% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at -87%, TNOM 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 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
Growth DCF €3.37 €6.03 €9.57 80
Residual Income €0.6400 €0.5800 €0.3600 76
Rev-Margin DCF €1.03 €2.22 €3.77 74
All 24 models by family
DCF Models
FCF DCF €3.47 €6.55 €10.95 38
Owner Earnings €0.8400 €2.39 €4.61 31
5Y Revenue Exit €1.03 €2.16 €3.52 39
5Y EBITDA Exit €2.68 €5.53 €9.01 41
5Y P/E Exit €0.4100 €0.8900 €1.32 38
10Y Revenue Exit €1.97 €3.28 €5.02 36
10Y EBITDA Exit €2.93 €5.38 €8.92 37
10Y P/E Exit €1.65 €2.49 €3.45 35
Earnings-Based
Graham-Dodd €0.0700 €0.3200 €0.4300 54
Lynch FV €0.0800 €0.1200 €0.1500 50
PEG = 1.0 €0.0800 €0.1200 €0.1500 46
Dividend Discount
Gordon GGM €1.39 €2.32 €3.02 70
DDM Multi-Stage €1.39 €2.20 €2.50 61
Multiples
P/E Multiple €0.1600 €0.2100 €0.2700 63
P/S Multiple €0.1300 €0.1700 €0.2200 58
P/B Multiple €0.1300 €0.1700 €0.2200 55
EV/EBIT €0.4600 €1.04 53
EV/EBITDA €2.56 €4.03 €5.50 54
EV/Revenue €0.4500 43
Asset-Based
NCAV (Graham) €0.5200 €0.6900 €1.03 50
Growth DCF
Growth DCF €3.37 €6.03 €9.57 80
Rev-Margin DCF €1.03 €2.22 €3.77 74
Economic Profit
Residual Income €0.6400 €0.5800 €0.3600 76
Growth Earnings
Growth-Adj P/E €0.1300 €0.1900 €0.2500 68

Widest divergence: DCF Models (€2.49) versus Earnings-Based (€0.1200). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €109M
Revenue growth (YoY) -0.6%
Net margin 25.4%
Return on equity 4.4%
Free cash flow €26.1M FY2025
P/E ratio 29.2
More key figures
Operating margin 5.9%
EPS (TTM) €0.0400
Dividend yield 4.2%
EPS growth (YoY) +1,082%
Net debt €97.3M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 45 · Market factors (momentum, volatility) 20

Profitability 23
Margins and returns on capital today
Quality Growth 4
Are margins and returns improving?
Cashflow 96
Earnings quality: real cash, not paper profit
Fin. Strength 11
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 27
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 61
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

Talenom Oyj provides accounting and other services for small and medium-sized enterprises in Finland, Sweden, Spain, and internationally.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€109M
Latest YoY
−13.6%
Avg. growth/yr (3Y) 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.
+2.2%
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.
+10.9%
Avg. growth/yr (12Y) 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.
+12.7%
Revenue +7.1%/yr
FY21 €82.8M
FY22 €102M
FY23 €122M
FY24 €126M
FY25 €109M
Net income −54.5%/yr
FY21 €10.8M
FY22 €11.8M
FY23 €3.4M
FY24 €6.1M
FY25 €464K
Character of growth · EPS growth decomposed (2014-2025) +25.3 % p.a.
Revenue per share +12.2 pp

of which total revenue +15.2 pp · buybacks/dilution −3.0 pp

EBIT margin +4.7 pp
Tax rate +5.9 pp
Residual (interest, one-offs) +2.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

TNOM screens 87% overvalued. Compare with Cintas Corporation →

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

Peer Group

Specialty Business Services · 253 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 47 · Below median
Fair Value upside −87% · Bottom 25%
Return on equity (TTM) 4% · Below median
Return on assets 3% · Below median
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 6% · Below median
Revenue growth -1% · Below median
Dividend yield (TTM) 4.2% · Above median
Debt / equity 1.93× · Higher than 75% of peers

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 29.2× · Pricier than median
P/FCF 2.4× · Cheaper than median
PEG 1.84× · 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 0 · sector 24
FUTURE 0 · sector 27
PAST 17 · sector 33
HEALTH 3 · sector 92
DIVIDEND 84 · sector 54

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 Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $206.25 $95.30 -54%
RELX PLC RELX $33.70 $32.49 -4%
Thomson Reuters Corporation TRI C$133.87 C$70.40 -47%
Copart, Inc CPRT $27.61 $28.59 +4%
Global Payments Inc GPN $80.49 $69.67 -13%
RB Global, Inc RBA C$156.43 C$49.14 -69%
Brambles Limited BXB A$18.79 A$12.28 -35%
UL Solutions Inc ULS $87.76 $33.62 -62%
Wolters Kluwer N.V WKL €62.56 €103.99 +66%
Aramark ARMK $56.74 $13.73 -76%

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Frequently asked questions

Is Talenom Oyj (TNOM) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €0.1900 versus a price of €1.48, about −87% (overvalued).
What is the fair value of TNOM?
Our model-based fair value for Talenom Oyj is €0.1900 (as of Jul 18, 2026), built from audited fundamentals. The current price is €1.48.
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 revenue of Talenom Oyj (TNOM)?
Talenom Oyj reported trailing-twelve-month revenue of about €109M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of TNOM?
The net profit margin of Talenom Oyj is about 0.4%, meaning it keeps roughly 0.4% of revenue as net income. Based on the latest reported figures.
Does Talenom Oyj pay a dividend?
Talenom Oyj currently shows a dividend yield of about 3.82% relative to its recent price (as of Jul 18, 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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