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Vincit Oyj (VINCIT) Fair Value & Analysis

Technology · FI · Market cap €14.5M

VO Vincit Oyj VINCIT · HE
Price€0.9500
Fair Value€1.98
Upside+108.4%
Quality50/100
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Mixed Growth
Loss-making · -2.1% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/11)
Narrow moat 17/100
Evidence: Medium Range €1.43 – €2.53 Share as image

Fair value as of: Jul 17, 2026

From 13 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from €2.00 to €1.98 (−1.0%) since Jun 25, 2026. Share price +3.9% over the past month.

A solid business, screening 108% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€1.43). The market is more pessimistic than our downside scenario.
  • Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€9.43 €0.8260 Fair Value €1.98 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range €0.8260 – €9.43 · fair‑value band €1.43 – €2.53 · the €0.9500 price screens below the €1.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Vincit Oyj (VINCIT) currently trades at €0.9500, while our model-based Fair Value estimate is €1.98, implying the stock looks roughly 108.4% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Technology 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: medium), always confirm before acting.

Over the trailing twelve months, Vincit Oyj generated revenue of €66.1M at a net margin of -3.9%. Revenue declined 15.2% year over year. It earns a return on equity of -9.1%. Net debt stands at €3.4M. Fundamentals as of Jul 17, 2026

Our scenario range runs from €1.43 (bear case) to €2.53 (bull case); at €0.9500, 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 45% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 108%, VINCIT 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
Growth DCF €1.58 €2.20 €3.01 80
Rev-Margin DCF €1.57 €2.37 €3.41 74
Gordon GGM €0.6900 €1.15 €1.49 70
All 13 models by family
DCF Models
FCF DCF €1.60 €2.31 €3.32 38
Owner Earnings €0.7100 €0.9100 €1.20 31
5Y Revenue Exit €1.57 €2.39 €3.48 39
5Y EBITDA Exit €1.73 €2.72 €3.95 41
10Y Revenue Exit €1.53 €2.24 €3.28 36
10Y EBITDA Exit €1.65 €2.45 €3.61 37
Dividend Discount
Gordon GGM €0.6900 €1.15 €1.49 70
DDM Multi-Stage €0.6900 €1.09 €1.23 61
Multiples
EV/EBITDA €1.99 €2.53 €3.08 54
EV/Revenue €1.59 €2.12 €2.65 43
Asset-Based
NCAV (Graham) €0.9400 €1.26 €1.89 50
Growth DCF
Growth DCF €1.58 €2.20 €3.01 80
Rev-Margin DCF €1.57 €2.37 €3.41 74

Widest divergence: DCF Models (€2.31) versus Dividend Discount (€1.09). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €66.1M
Revenue growth (YoY) -15.2%
Net margin -3.9%
Return on equity -9.1%
Free cash flow €2.3M FY2025
Operating margin -2.3%
More key figures
EPS (TTM) €-0.1500
EPS growth (YoY) -41.2%
Net debt €3.4M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 52 · Market factors (momentum, volatility) 30

Profitability 26
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 66
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

Vincit Oyj provides service design and software development services in Finland, and internationally. The company offers Data and artificial intelligence advisory, data foundation, analytics and insights, and AI solutions; commerce consulting, omnichannel commerce, commercial data, and customer engagement; SAP cloud ERPs, business applications, extensions, …

Full company description

Vincit Oyj provides service design and software development services in Finland, and internationally. The company offers Data and artificial intelligence advisory, data foundation, analytics and insights, and AI solutions; commerce consulting, omnichannel commerce, commercial data, and customer engagement; SAP cloud ERPs, business applications, extensions, and integrations; and digital products and services. The company serves wholesale and retail, manufacturing, public sector, energy and utilities, digital platform economy, banking, finance, and insurance, and medical device industries. The company was formerly known as Vincit Group Oyj and changed its name to Vincit Oyj in May 2018. Vincit Oyj was incorporated in 2007 and is based in Tampere, Finland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vincit Oyj reported revenue of €69.1M in FY2025 versus €61.5M in FY2021, a compound +2.9%/yr. Reported net income was −€2.8M in FY2025.

Growth Quality 36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€69.1M
Latest YoY
−18.4%
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.
−6.6%
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.
+5.7%
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.
+23.6%
Revenue +2.9%/yr
FY21 €61.5M
FY22 €84.8M
FY23 €98.1M
FY24 €84.6M
FY25 €69.1M
Net income
FY21 €3.5M
FY22 −€277K
FY23 −€2.9M
FY24 −€3.6M
FY25 −€2.8M

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

Peer Group

Software - Application · 709 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 50 · Below median
Fair Value upside +108% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) -2% · Below median
Operating margin (TTM) -2% · Below median
Revenue growth -16% · Bottom 25%
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/B 0.53× · Cheaper than 75% of peers
P/S (TTM) 0.26× · Cheaper than 75% of peers
P/FCF 7.3× · Cheaper 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 100 · sector 0
FUTURE 0 · sector 38
PAST 0 · sector 13
HEALTH 100 · sector 98
DIVIDEND 0 · sector 28

Insider activity: 30/100

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Vincit Oyj (VINCIT) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of €1.98 versus a price of €0.9500, about +108% (undervalued).
What is the fair value of VINCIT?
Our model-based fair value for Vincit Oyj is €1.98 (as of Jul 17, 2026), built from audited fundamentals. The current price is €0.9500.
What is the quality score of VINCIT?
Vincit Oyj has a Quality Score of 50/100. 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 Vincit Oyj (VINCIT)?
Vincit Oyj reported trailing-twelve-month revenue of about €66.1M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of VINCIT?
The net profit margin of Vincit Oyj is about -3.9%, meaning it is currently running at a net loss. 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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