Financials F-Secure Oyj

Equities

FSECURE

FI4000519236

Software

Market Closed - Nasdaq Helsinki 11:29:48 2024-04-26 am EDT 5-day change 1st Jan Change
2.08 EUR +7.77% Intraday chart for F-Secure Oyj +10.99% +2.21%

Valuation

Fiscal Period: December 2022 2023 2024 2025 2026
Capitalization 1 493.9 355.5 363.3 - -
Enterprise Value (EV) 1 474.6 532.9 524.2 503.9 486.8
P/E ratio 16.6 x 15.7 x 15.3 x 12.8 x 10.8 x
Yield 2.47% 3.44% 3.73% 4.81% 5.53%
Capitalization / Revenue 4.45 x 2.73 x 2.45 x 2.37 x 2.28 x
EV / Revenue 4.28 x 4.09 x 3.54 x 3.28 x 3.06 x
EV / EBITDA 10.7 x 11.7 x 9.98 x 8.88 x 7.85 x
EV / FCF 14.9 x -2.87 x 16.4 x 14.3 x 12.5 x
FCF Yield 6.69% -34.8% 6.1% 6.99% 8.03%
Price to Book 20.2 x 10.7 x 8.13 x 6.11 x 4.53 x
Nbr of stocks (in thousands) 174,527 174,673 174,673 - -
Reference price 2 2.830 2.035 2.080 2.080 2.080
Announcement Date 2/17/23 2/16/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Net sales 1 106.3 111 130.4 148 153.5 159.3
EBITDA 1 - 44.51 45.65 52.54 56.72 62
EBIT 1 - 42.53 37.45 40.86 44.97 49.7
Operating Margin - 38.31% 28.73% 27.61% 29.3% 31.19%
Earnings before Tax (EBT) 1 - 38.56 27.68 29.79 36.09 42.53
Net income 1 -25.5 30.15 22.36 23.33 28.29 33.29
Net margin -23.99% 27.16% 17.15% 15.76% 18.43% 20.9%
EPS 2 - 0.1700 0.1300 0.1359 0.1622 0.1920
Free Cash Flow 1 - 31.75 -185.6 31.97 35.2 39.1
FCF margin - 28.6% -142.34% 21.6% 22.93% 24.54%
FCF Conversion (EBITDA) - 71.33% - 60.84% 62.06% 63.06%
FCF Conversion (Net income) - 105.29% - 137.01% 124.43% 117.44%
Dividend per Share 2 - 0.0700 0.0700 0.0775 0.1000 0.1150
Announcement Date 5/16/22 2/17/23 2/16/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q2 2022 Q3 2022 Q4 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 26.3 27.9 28.25 30.52 35.13 36.91 36.27 37.43 36.57 37.9
EBITDA 1 10.1 11.7 10.02 10.16 13.06 11.96 12.35 12.6 14.05 13.65
EBIT 1 9.7 11.1 9.405 9.4 9.988 7.061 9.767 9.767 11.1 10.7
Operating Margin 36.88% 39.78% 33.29% 30.8% 28.43% 19.13% 26.93% 26.09% 30.36% 28.23%
Earnings before Tax (EBT) 1 6.8 11.2 8.898 8.461 7.161 3.63 6.2 6.55 8.45 8.1
Net income 1 5.3 8.7 6.888 6.978 5.408 3.207 4.8 5.1 6.55 6.3
Net margin 20.15% 31.18% 24.38% 22.86% 15.39% 8.69% 13.24% 13.62% 17.91% 16.62%
EPS 2 0.0300 0.0500 0.0400 0.0400 0.0300 0.0200 0.0300 0.0300 0.0400 0.0367
Dividend per Share - - - - - - - - - -
Announcement Date 7/20/22 10/31/22 2/17/23 7/20/23 10/25/23 2/16/24 - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 177 161 141 124
Net Cash position 1 - 19.3 - - - -
Leverage (Debt/EBITDA) - - 3.886 x 3.062 x 2.479 x 1.992 x
Free Cash Flow 1 - 31.7 -186 32 35.2 39.1
ROE (net income / shareholders' equity) - 176% 38.6% 60.4% 54.7% 50.1%
ROA (Net income/ Total Assets) - 59.3% 6.62% 8.32% 10% 11.6%
Assets 1 - 50.81 337.9 280.6 282 287.9
Book Value Per Share 2 - 0.1400 0.1900 0.2600 0.3400 0.4600
Cash Flow per Share 2 - 0.2100 0.1700 0.2500 0.2400 0.3000
Capex 1 - 4.63 7.92 8.27 8.48 8.72
Capex / Sales - 4.17% 6.07% 5.59% 5.52% 5.47%
Announcement Date 5/16/22 2/17/23 2/16/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
2.08 EUR
Average target price
2.533 EUR
Spread / Average Target
+21.79%
Consensus