Orion Oyj B (ORNBV) Fair Value & Analysis
Healthcare · FI · Market cap €10.9B · ISIN FI0009014377
What is Orion Oyj B really worth?
A strong business, but trading 53% above our fair value of €52.28.
Strengths
Risks
For context
Fair value as of: Sep 5, 2026
From 26 valuation models · updated today
Share price −2.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 76/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The model range is unusually wide (€30.80 to €84.60). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range €28.67 – €82.25 · fair‑value band €30.80 – €84.60 · the €79.80 price screens above the €52.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.
Analysis
Orion Oyj B (ORNBV) currently trades at €79.80, while our model-based Fair Value estimate is €52.28, implying the stock looks roughly 52.6% overvalued today. The Quality Score stands at 76/100 (high quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of €66.82 per share, and 0 of the 26 models we run sit above the €79.80 price. Bear case: the Asset-Based group reads lowest at €6.12, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Orion Oyj B generated revenue of €2.0B at a net margin of 27.1%. Revenue grew 17.8% year over year. It earns a return on equity of 48.4%. Net debt stands at €145M. Fundamentals as of Sep 5, 2026
Our scenario range runs from €30.80 (bear case) to €84.60 (bull case); at €79.80, 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 near its 52-week high and 43% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −18% fair-value upside, at −34%, ORNBV screens richer 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 €1.62 per share, which is 3.1 % 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 26 models by family
Widest divergence: Growth Earnings (€66.82) versus Asset-Based (€6.12). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 73 · Market factors (momentum, volatility) 73
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
Orion Oyj develops, manufactures, and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients (APIs) in Finland, Scandinavia, rest of Europe, North America, and internationally.
Full company description
Orion Oyj develops, manufactures, and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients (APIs) in Finland, Scandinavia, rest of Europe, North America, and internationally. It offers pharmaceutical products, which includes Nubeqa for the treatment of prostate cancer; Entacapone, Stalevo, Comtess, and Comtan to treat Parkinson's disease; Burana for inflammatory pain; Divina series for menopausal symptoms; Simdax for acute decompensated heart failure; Fareston for breast cancer; Quetiapine products for antipsychotic; Trexan for rheumatoid arthritis and cancer; Easyhaler product portfolio for asthma and COPD; and Dexdor, Precedex, and Dexmedetomidine products for human use. The company also provides Salmeterol/fluticasone Easyhaler, Budesonide/formoterol Easyhaler, Formoterol Easyhaler, Budesonide Easyhaler, Beclomet Easyhaler, and Buventol Easyhaler drugs for the treatment of asthma and chronic obstructive pulmonary disease. In addition, it offers veterinary drugs comprising Bonqat, Clevor, Domosedan, Domitor, Antisedan, Dexdomitor, Domosedan Gel, Sileo, and Tessie; APIs for generic compounds and proprietary products, as well as contract manufacturing services; and markets and sells drugs and products manufactured by other companies. Additionally, the company provides self-care products, including non-prescription medicines, cosmetics, dietary supplements, vitamins, and skincare products. It also offers its products online. The company has a licensing agreement with Tenax Therapeutics, Inc. to develop oral levosimendan (TNX-103) for pulmonary hypertension in heart failure with preserved ejection fraction (PH-HFpEF); and Bayer for the development and commercialisation of darolutamide Nubeqa. Orion Oyj was founded in 1917 and is headquartered in Espo, Finland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Orion Oyj B reported revenue of €1.9B in FY2025 versus €1.0B in FY2021, a compound +16.1%/yr. Reported net income was €500M in FY2025, compounding +26.8%/yr from FY2021.
of which total revenue +4.5 % · buybacks/dilution +0.0 %
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).
ORNBV screens 53% overvalued. Compare with Eli Lilly and Company →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Orion Corporation to commence acquisition of own shares for its share-based incentive plans
- Orion Group Half-Year Financial Report January–June 2026
- Orion Corporation’s financial reporting and Annual General Meeting in 2027
- 45,611 Orion Corporation A shares converted into B shares
Peer Group
Drug Manufacturers - General · 75 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 Drug Manufacturers - General 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.
VALUE 0: the price sits above our fair-value range.
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 Drug Manufacturers - General stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Eli Lilly and Company LLY | $1,176 | $389.47 | −67% |
| Johnson & Johnson, JNJ | $265.77 | $169.04 | −36% |
| AbbVie Inc ABBV | $258.15 | $67.72 | −74% |
| Roche Holding RO | CHF 374.60 | CHF 306.54 | −18% |
| Merck & Co MRK | €131.98 | €101.38 | −23% |
| Novartis AG NOVN | CHF 123.74 | CHF 114.90 | −7% |
| Novo Nordisk A/S NOVOB | kr 295.50 | kr 409.46 | +39% |
| Amgen Inc AMGN | $436.99 | $252.02 | −42% |
| Gilead Sciences, Inc GILD | $148.86 | $146.50 | −2% |
| Pfizer Inc PFE | $28.02 | $24.87 | −11% |
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