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Incap

10.62 EUR

-0.19 %

6,345 following
Corporate customer

ICP1V

NASDAQ Helsinki

Electrical Equipment

Industrials

-0.19 %
+11.44 %
+6.84 %
+8.15 %
+12.86 %
-2.21 %
+4.94 %
+68.30 %
-76.18 %

Incap operates in the industrial sector. The company supplies equipment and services for industrial players, where the range includes PCB assembly, system integration, box building integration, design validation, and inspection methods. The largest operations are found in the Nordic, Baltic and Asian regions. The company was originally established in 1985 and is headquartered in Helsinki.

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Market cap
312.73M EUR
Turnover
346.31K EUR
P/E (adj.) (26e)
EV/EBIT (adj.) (26e)
P/B (26e)
EV/S (26e)
Dividend yield-% (26e)
Coverage
Recommendation
Buy
Target price
Updated
27.02.2026
Disclaimer
Antti Viljakainen
Antti Viljakainen

Head of Research

Latest research

Latest analysis report

Released: 27.02.2026

Latest extensive report

Released: 23.06.2025

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
30.4.
2026

Interim report Q1'26

20.5.
2026

General meeting '26

30.7.
2026

Interim report Q2'26

Risk
Business risk
Valuation risk
Low
High
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Third party research

Incap: Organic growth could return in 2026 - Nordea

Incap's Q4 net sales missed market consensus (LSEG Data & Analytics), but profitability was better than expected. Organic growth was not strong, and revenue growth was -7% y/y in 2025. However, organic growth in 2026 could exceed 10% if the US tariffs...

Incap
Third party research

Incap: Reducing volatility is key - Nordea

Recent years have been quite volatile for Incap. Quarterly revenue growth fluctuated between +40% and -30% during 2024-25. The most recent headwinds were related to US tariffs imposed on India. Growth was -16% y/y in Q3 2025, but revenue growth could...

Incap
Third party research

Incap: We expect ~40% y/y revenue growth in 2026 - Nordea

Incap has agreed to acquire Lacon for an equity value of EUR 50m. Lacon has customers in the railway, medical and defence sectors. The acquisition could take revenue growth close to 40% in 2026, but the company expects the transaction to have only a ...

Incap
Forum discussions
Hello Everyone here at Incap forum! Thank you very much for the interest in Incap, excellent questions during the Q4 Webcast and the general activity here! Please find below summary of the Q&A: Q: Incap has a good situation with regards to its balance sheet, so why are you taking...
2/27/2026, 2:09 PM
by Antti Pynnönen
52
Incap states it will be exhibiting for the first time in Germany. I particularly like the angle of “Incap Defence”
3/26/2026, 12:20 PM
by S_Nyyssonen
26
Have I interpreted this correctly, but wasn’t Incap actually a beneficiary back when energy prices rose due to Russia’s invasion of Ukraine? A comprehensive report states the following about Incap’s largest customer (currently 30%): “The company’s products include inverters, chargers...
3/27/2026, 8:24 AM
by Karhu Hylje
19
Antti Viljakainen has written a new company report on Incap regarding Q4 The overall picture of Incap’s Q4 report was positive thanks to strong profitability and cash flow. Guidance for the current year also met our expectations, and we did not make significant forecast changes following...
2/27/2026, 5:58 AM
by Sijoittaja-alokas
18
Incap Group’s business review for January–March 2026 will be published on Thursday, 30 April 2026, at approximately 9:00 a.m. Reporting materials in Finnish and English will be available at that time on the company’s website at https://incapcorp.com/fi/raportit-ja-esitykset/. Webcast...
4/20/2026, 9:11 AM
by Pauliina Tennilä
14
Electronics contract manufacturing - is it the best sector on the Helsinki Stock Exchange? Lead Analyst @Antti_Viljakainen answers this question at the beginning of the video. Historical returns have at least been among the elite of the Helsinki Stock Exchange. Inderes Incap ja Scanfil...
3/26/2026, 3:19 PM
by Iikka Numminen
12
From personal experience, most deals, especially b2b deals at scale, get done without the branding or website playing any role in it. While it definitely contributes to potential new leads. I do think that maintaining a level of standard that is expected from the industry would definitely...
3/24/2026, 7:40 AM
by grandmaster
10
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