Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Kojamo Oyj is Finland's largest private residential real estate company, measured by the fair value of its investment properties, operating as a leading housing investment firm. It primarily rents apartments and provides comprehensive housing services under the prominent Lumo brand, focusing on urban growth centers across Finland. Notable features include broadband internet connections, car sharing, and innovative value-added services that enhance tenant experiences, alongside repurposing old office and industrial buildings into modern urban homes. Founded in 1969 as VVO Group plc and renamed Kojamo Oyj in March 2017, the company is headquartered in Helsinki and employs around 245 professionals dedicated to housing, investments, property development, data technology, and sustainability. With a mission to create better urban living, Kojamo Oyj plays a pivotal role in the real estate sector by addressing rising rental housing demand amid urbanization trends, while prioritizing customer-centric digital solutions and responsible practices. Its operations significantly contribute to the Finnish real estate market's evolution toward innovative, tenant-focused rental solutions.
€7.77
+€0.18 (+2.37%)
EOD Jul 2, 2026
59.18% operating margin is above average. ROIC at 2.90%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue growth slowed to 0.6%, essentially flat. This is a business that needs a catalyst.
At 97x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Net debt of €3.15B represents 21.0x FCF, leverage limits flexibility.
97.1x earnings, 12.7x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€455M
▲ +0.6% YoY
Net Income (TTM)
€21M
▼ -1.9% YoY
Op. Margin
59.18%
▲ +0.6pp YoY
ROIC
2.90%
Cash Flow & Balance Sheet
FCF (TTM)
€150M
▼ -5.0% YoY
Op. Cash Flow (TTM)
€150M
▼ -5.1% YoY
Net Debt
€3.15B
Cash & Equiv.
€239M
3Y CAGR: +3.3%
3Y CAGR: -1.8%
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At a P/E of 97.1 and a price-to-free-cash-flow of 12.7, Kojamo Oyj (KOJAMO.XHEL) trades above a two-stage DCF intrinsic value of about €-2.23 per share, so at €7.77 the stock looks overvalued (128.7% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Kojamo Oyj scores 47/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about €-2.23 per share for KOJAMO.XHEL, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around €-1.67. At today's €7.77, that puts the stock about 128.7% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Kojamo Oyj scores 47 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 59.2% operating margin and a 2.9% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
That depends on valuation and quality together, not either alone. KOJAMO.XHEL currently trades above its estimated intrinsic value and scores 47/100 on quality (mixed). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.