Adyen NV (ADYEN) Fair Value & Analysis
Technology · NL · Market cap €26.3B · ISIN NL0012969182
What is Adyen NV really worth?
A solid business, trading 16% below our fair value of €1,224.
Strengths
Risks
Fair value as of: Sep 2, 2026
From 24 valuation models · updated 2 days ago
Fair value updated Sep 2, 2026, revised from €707.53 to €1,224 (+73.0%) since Aug 27, 2026. Share price +8.8% over the past month.
What runs behind every stock
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What matters now
- The price sits in the lower half of our model range, the side with the larger margin of safety.
- Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 2, 2026.
How to read this chart
60‑month range €630.80 – €2,766 · fair‑value band €935.31 – €1,530 · the €1,027 price screens below the €1,224 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 2, 2026.
Analysis
Adyen NV (ADYEN) currently trades at €1,027, while our model-based Fair Value estimate is €1,224, implying the stock looks roughly 16.1% undervalued today. The Quality Score stands at 72/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of €1,537 per share, and 11 of the 24 models we run sit above the €1,027 price. Bear case: the Economic Profit group reads lowest at €300.39, and 13 of the 24 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Adyen NV generated revenue of €2.4B at a net margin of 44.7%. Revenue grew 16.9% year over year. It earns a return on equity of 22.3%. The balance sheet holds a net cash position of €10.5B. Fundamentals as of Sep 2, 2026
Our scenario range runs from €935.31 (bear case) to €1,530 (bull case); at €1,027, the current price sits within 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 41% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −32% fair-value upside, at 19%, ADYEN screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €22.72 per share, which is 1.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Growth Earnings (€1,537) versus Asset-Based (€112.29). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 72 · Market factors (momentum, volatility) 28
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Adyen N.V. operates a payments platform in Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America. Its platform integrates payments stack, including gateway, risk management, processing, acquiring, and settlement services. The company offers a back-end infrastructure for authorizing.
Full company description
Adyen N.V. operates a payments platform in Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America. Its platform integrates payments stack, including gateway, risk management, processing, acquiring, and settlement services. The company offers a back-end infrastructure for authorizing. It accepts payment through online, in-person payments, cross channel, and Adyen for Platforms. The company also provides optimization services, including Adyen Uplift, protect, authenticate and tokenize. In addition, it offers financial products, such as accounts, capital, issuing, and payouts. It serves digital, mobility, SaaS platforms, retail, food and beverages, subscription, and travel and hospitality businesses. The company was incorporated in 2006 and is based in Amsterdam, the Netherlands.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Adyen NV reported revenue of €2.7B in FY2025 versus €1.0B in FY2021, a compound +27.8%/yr. Reported net income was €1.1B in FY2025, compounding +22.6%/yr from FY2021.
of which total revenue +39.7 % · buybacks/dilution −0.5 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Can Adyen (ENXTAM:ADYEN) Justify Its Premium After Raised Growth Guidance?
- Adyen (ENXTAM:ADYEN) Could Be 23% Undervalued Following Results And Two Acquisitions
- Adyen NV (ADYYF) (H1 2026) Earnings Call Highlights: Strong Revenue Growth and Strategic ...
- Adyen Stock Jumps 11% as Acquisitions Lift Revenue Target
Peer Group
Software - Infrastructure · 369 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.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
Strength profile in five axes (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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Sep 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $480.35 | $365.74 | −24% |
| Oracle Corporation ORCL | $151.94 | $117.84 | −22% |
| Fortinet, Inc FTNT | $166.00 | $61.46 | −63% |
| Synopsys, Inc SNPS | $442.61 | $101.19 | −77% |
| Block, Inc XYZ | A$111.01 | A$70.69 | −36% |
| CoreWeave, Inc CRWV | $105.26 | $71.79 | −32% |
| NetApp, Inc NTAP | $190.64 | $154.83 | −19% |
| MongoDB, Inc MDB | $440.58 | $93.91 | −79% |
| Okta, Inc OKTA | $166.23 | $30.50 | −82% |
| VeriSign, Inc VRSN | $273.03 | $208.59 | −24% |
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