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.
NoHo Partners Oyj is a Finnish hospitality group established in 1996, specializing in restaurant services and operating as a leading player in Northern Europe. Formerly known as Restamax Oyj, it rebranded in 2018 and became the first Finnish restaurant company listed on Nasdaq Helsinki in 2013. The company manages approximately 300 restaurants, bars, pubs, nightclubs, and entertainment venues under renowned concepts such as Elite, Savoy, Teatteri, Sea Horse, Stefan’s Steakhouse, Palace, Löyly, Friends & Brgrs, Campingen, Cock’s & Cows, and Holy Cow!. With around 2,500 employees, NoHo Partners Oyj generates significant revenue primarily from Finland, alongside growing international operations in Denmark, Norway, and Switzerland, where sales reached 129 million euros in 2024. Headquartered in Tampere, the group focuses on innovative hospitality solutions, driving expansion in the restaurants and bars sector within consumer cyclicals. Its vision positions it as a dominant force in Northern European dining and entertainment markets.
€7.42
+€0.03 (+0.41%)
EOD Jul 2, 2026
Operating margin is thin at 8.63%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 16.2% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 11% versus the prior year, cash generation momentum has weakened. Net debt of €318M represents 5.7x FCF, leverage limits flexibility.
4.8x earnings, 2.8x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€358M
▼ -16.2% YoY
Net Income (TTM)
€35M
▲ +137.6% YoY
Op. Margin
8.63%
▼ -0.8pp YoY
ROIC
5.58%
▼ -1.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€55M
▼ -11.4% YoY
Op. Cash Flow (TTM)
€66M
▼ -12.0% YoY
Net Debt
€318M
Cash & Equiv.
€4M
3Y CAGR: +4.6%
3Y CAGR: +0.2%
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At a P/E of 4.8 and a price-to-free-cash-flow of 2.8, NoHo Partners Oyj (NOHO.XHEL) trades below a two-stage DCF intrinsic value of about €54.92 per share, so at €7.42 the stock looks undervalued (640.2% below 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, NoHo Partners Oyj scores 39/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 6.9%; see dividend safety for coverage and history. 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 €54.92 per share for NOHO.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 €41.19. At today's €7.42, that puts the stock about 640.2% below 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.
NoHo Partners Oyj scores 39 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 8.6% operating margin and a 5.6% 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.
Yes, NoHo Partners Oyj pays a regular dividend of about €0.51 per share per year (typically in quarterly installments), a yield of roughly 6.9% at the current price. That is a payout ratio of about 30.5% of earnings, so the dividend is amply covered by earnings. NoHo Partners Oyj has grown the dividend at roughly 98.2% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For NOHO.XHEL's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. NOHO.XHEL currently trades below its estimated intrinsic value and scores 39/100 on quality (lower-quality). It also yields about 6.9%. 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.