Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Morning Review
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
    • Insider Transactions
    • Transcripts
    • AGM Invitations
  • inderesTV
  • Portfolio
  • Forum
  • Premium
  • Femme
  • Nora AI
  • Learn
    • Investing School
    • Q&A
    • Analysis School
  • About Us
    • Our Coverage
    • Team
Research

Digital Workforce: Slight profit warning raised uncertainty for next year

By Joni GrönqvistAnalyst
Digital Workforce
Download report (PDF)

Digital Workforce’s profit warning on Friday for 2023 was quite light. At the same time, the growth and profitability outlook for 2024 weakened. We believe new customer acquisition and project starts have progressed slower than expected, which depressed development. We now expect more moderate growth in the coming years than before but expect profitability to improve driven by revenue structure and more prudent investments. With our lowered estimates, the valuation (2023e EV/S 0.9x, sum of the parts EUR 4.5 and DCF EUR 6.0) is still attractive.

Login required

This content is only available for logged in users

Create account

Digital Workforce is a service provider specializing in industrial-scale process automation services. The company's service offering covers the entire intelligent automation lifecycle: design and consulting, development and deployment, cloud-based platform, support and maintenance, and further development. The company offers services and solutions to customers in various industries, including finance, healthcare, industry, logistics, and various public actors.

Read more on company page

Key Estimate Figures26.11.2023

202223e24e
Revenue25.524.425.7
growth-%13.9 %-4.3 %5.5 %
EBIT (adj.)-1.30.31.0
EBIT-% (adj.)-5.0 %1.1 %3.8 %
EPS (adj.)-0.150.030.08
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.79.830.9
EV/EBITDAneg.40.68.9

Forum discussions

It’s good that DWF is shaking up and educating the market. Digital Workforce Services Plc is organizing an investor day on March 19, 2026, from...
3/5/2026, 6:49 AM
by Sheikki
6
Digital Workforce’s number of NHS trust customers seems to be growing at a brisk pace. In the 2025 financial results release on February 18,...
3/4/2026, 11:39 AM
by Sheikki
6
I wonder if it is possible to deduce from these recent deals whether these agent-based implementations were built on UiPath’s platform or something...
2/24/2026, 7:35 AM
by sillinkutoja
0
A reference for the insurance sector. sttinfo.fi Suuri vakuutusyhtiö ottaa käyttöön Digital Workforcen toimittaman... Lehdistötiedote — 24.2...
2/24/2026, 7:02 AM
by Mainari
14
Bro, I was just about to come and wonder if this wasn’t a wildly good investment, but I’m not wondering so much anymore, thanks to your post...
2/20/2026, 7:43 PM
by Sijoittaja-alokas
7
I’ve been following DWF with half an eye for a while, as this activity raises so many questions about what the goal is. A while ago, ambitious...
2/20/2026, 8:07 AM
by Karhu Hylje
10
New strategic partnership for the insurance sector: Inderes Sisäpiiritieto: Digital Workforce ja Davies ovat solmineet strategisen... 20.2.2026...
2/20/2026, 7:48 AM
by Karhu Hylje
10
Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • Instagram
  • X (Twitter)
  • Tiktok
  • Linkedin
Get in touch
  • info@inderes.fi
  • +358 10 219 4690
  • Porkkalankatu 5
    00180 Helsinki
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.