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Tulikivi

0.57 EUR

0.00 %

4,210 following

TULAV

NASDAQ Helsinki

Home Products

Consumer Goods & Services

Overview
Financials & Estimates
Ownership
Dividend
Investor consensus
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0.00 %
+1.79 %
+16.56 %
+15.62 %
+22.06 %
+17.77 %
+13.55 %
+66.67 %
+41.21 %

Tulikivi is a manufacturer of wood-burning stoves. The product range is wide and includes stoves made of soapstone. In addition to the main business, the company also offers sauna heaters adapted for both electric and wood-fired saunas, as well as interior stones for kitchens, bathrooms and saunas. The largest operations are in the Nordic region, where the products are sold through external retailers. The head office is located in Juuka.

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Market cap
34.13M EUR
Turnover
910.57 EUR
P/E (adj.) (26e)
EV/EBIT (adj.) (26e)
P/B (26e)
EV/S (26e)
Dividend yield-% (26e)
Coverage
Recommendation
Sell
Target price
Updated
11.05.2026
Disclaimer
Revenue and EBIT-%
EPS and dividend
Financial calendar
Risk
Business risk
Valuation risk
Low
High
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Press releases
ShowingAll content types

Forum discussions
Thanks @ Blackparta, this really warmed my heart ahead of the earnings season! I must admit I’m pleased with my own track record with Tulikivi (dangerous to say that out loud, as things often go south immediately after). The only dull thing about succeeding with a negative recommendation...
3/3/2026, 9:09 AM
by Thomas Westerholm
10
It is bulk sales of slowly renewable or non-renewable raw materials. It is not innovative value creation, which the company has not been able to achieve effectively. By the way, where is the internet’s Tulikivi spammer?
5/11/2026, 7:57 AM
by Totuuden ääni
3
Here is Tulikivi’s 2020s post-COVID era well-summarized: “In our view, the stock’s valuation looks challenging due to the pressured earnings performance, leaving significant expectations reliant on the speculative realization of the talc project’s value” In plain English and layman...
5/11/2026, 7:32 AM
by Totuuden ääni
3
Here is a company report from Thomas following Tulikivi’s Q1 report Tulikivi’s revenue exceeded our expectations, driven by export revenue turning back to growth. Despite the recovery in exports, the order intake contracted from the previous year, leaving work to be done to reach...
5/11/2026, 6:02 AM
by Sijoittaja-alokas
3
One would assume that domestic sales took at least a slight hit due to the news coverage regarding the Russian business operations. Based on my understanding, official permits for electric heaters in the USA and Japan are still pending, so there won’t be any help for revenue from...
5/7/2026, 6:21 AM
by Jopinaattori
2
Here is Thomas’s pre-report on Tulikivi with negative tones. Tulikivi will publish its Q4 report on Friday, March 6, 2026. Following yesterday’s profit warning, expectations for the final quarter of the year have decreased significantly, and 2025 was a disappointment compared to ...
2/25/2026, 6:19 AM
by Sijoittaja-alokas
2
I personally do not believe in significant (over 20%) growth in the fireplace business over the next 3 years. In contrast, there is substantial growth potential in the sauna business, though it will require work and time. The products are good, and there is a solvent customer base...
5/11/2026, 7:53 AM
by Jopinaattori
1
Read more on our forum
Thomas Westerholm
Thomas Westerholm

Analyst

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
14.8.
2026

Interim report Q2'26

6.11.
2026

Interim report Q3'26

Regulatory press release5/8/2026, 10:00 AM

Tulikivi Corporation Interim Report 1-3/2026: Strategic projects making good progress and laying the foundations for future growth

Tulikivi
Regulatory press release4/22/2026, 2:00 PM

RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF TULIKIVI CORPORATION

Tulikivi
Regulatory press release3/27/2026, 11:00 AM

Tulikivi Corporation’s annual report for 2025 has been published

Tulikivi

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Regulatory press release3/25/2026, 11:00 AM

NOTICE TO THE ANNUAL GENERAL MEETING OF TULIKIVI CORPORATION 2026

Tulikivi
Regulatory press release3/6/2026, 11:00 AM

Tulikivi Corporation Financial statements release 1–12/2025: Investments in strategic projects continued despite challenging market conditions.

Tulikivi
Regulatory press release2/23/2026, 8:30 PM

Tulikivi lowers its earnings guidance for 2025: Net sales are estimated to be approximately EUR 29.5 million and the comparable operating profit is estimated to be around EUR -0.1 million.

Tulikivi
Regulatory press release11/27/2025, 11:00 AM

Tulikivi Corporation financial reporting in 2026

Tulikivi
Regulatory press release11/7/2025, 11:00 AM

Tulikivi Corporation Interim report 1–9/2025: Despite the challenging market, investments continued in strategic projects.

Tulikivi
Regulatory press release9/17/2025, 1:00 PM

Tulikivi Corporation: Decision of the Board on capital repayment

Tulikivi
Regulatory press release9/17/2025, 1:00 PM

Tulikivi is revising downward and focusing its guidance for 2025: Net sales are expected to be EUR 29 to 33 million and comparable operating profit is expected to be EUR 1 to 2 million

Tulikivi
Regulatory press release8/15/2025, 10:00 AM

Tulikivi Corporation half year financial report 1–6/2025: Order intake continued to grow

Tulikivi
What to look for in a Consumer Goods Company? | Consumer Goods Night June 9, 202513:20
Video6/16/2025, 11:30 AM

What to look for in a Consumer Goods Company? | Consumer Goods Night June 9, 2025

The operating environment has been challenging for Consumer Goods Companies.

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Regulatory press release6/16/2025, 6:30 AM

Tulikivi Corporation - Managers' Transactions: Jaakko Aspara

Tulikivi
Regulatory press release5/23/2025, 3:00 PM

Tulikivi Corporation - Managers' Transactions: Jaakko Aspara

Tulikivi
Regulatory press release5/9/2025, 10:00 AM

Tulikivi Corporation Interim report 1–3/2025: Difficult operating environment, increasing order flow

Tulikivi
Press release5/9/2025, 7:30 AM

Environmental permit application for the Suomussalmi talc project submitted to the Regional State Administrative Agency of Northern Finland

Tulikivi
Regulatory press release4/24/2025, 11:00 AM

RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF TULIKIVI CORPORATION

Tulikivi
Regulatory press release3/28/2025, 11:00 AM

Tulikivi Corporation’s annual report for 2024 has been published

Tulikivi
Regulatory press release3/27/2025, 11:00 AM

NOTICE TO THE ANNUAL GENERAL MEETING OF TULIKIVI CORPORATION 2025

Tulikivi
Regulatory press release3/7/2025, 11:00 AM

Tulikivi Corporation financial statements release 1–12/2024: Stronger balance sheet position, equity ratio 51.9%

Tulikivi