contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


gofore-first-class-profitability-management

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Joni Grönqvist

Gofore operates in the IT sector. The company specializes in offering digital solutions and consulting in lead and process design, as well as cloud-based solutions. The greatest knowledge is found in the construction and development of software systems and associated project management. The company's customers are found among corporate customers and institutions. The largest operations are found around the European market.

There was a very good piece in Pörssihaukka about SaaS companies and the energy needs of AI companies. Energy consumption is going to be a big problem. It supports the need for SaaS companies, and in the end, AI won’t be able to do it automatically. Companies are also transforming, and software companies are utilizing AI. It raises the question of whether these will actually be the biggest beneficiaries in the end. In a way, I’m tempted to add Gofore to my portfolio, but I already have a bit too much of it. I’m not selling, either.

Joni has proactively prepared a Q4 pre-report for Gofore, which will publish its results on Wednesday, Feb 25.  We are upgrading our recommendation for Gofore shares to Add (prev. Reduce) ahead of the Q4 report, driven by the decline in the share price. At the same time, we are lowering the target price to EUR 13.0 (prev. EUR 15.5), reflecting increased operational risk and valuation-related risk levels due to the threat of AI disruption. Gofore’s revenue grew driven by an acquisition, and we estimate that profitability improved clearly from previous quarters in Q4. However, uncertainty remains regarding Gofore’s development in 2026, particularly concerning profitability. Nevertheless, the stock’s risk-reward ratio has already turned attractive before the report. Gofore will publish its financial statements on Wednesday, and the company’s results presentation can be followed here at 1:00 PM. Additionally, our live results broadcast can be followed here starting at 8:55 AM. Quote from the report: At the beginning of the year, a major concern for investors, especially when discussing SaaS software companies and also IT service companies, has been the threat of disruption created by AI. This has weighed on the sector’s valuation levels. The general economic situation has remained in a fairly sensitive state due to geopolitical tensions, but at the same time, some fledgling positive signals have also been received, with the generally strong performance of the stock markets being one example.                   Inderes              Gofore Q4'25 -ennakko: Arvostus houkuttelee disruptiopelkojen keskellä - Inderes    Goforen liikevaihto kasvoi yritysoston vetämänä, ja arvioimme kannattavuuden parantuneen selvästi edellisistä neljänneksistä Q4:llä. Goforen vuoden 2026 kehitykseen liittyy kuitenkin edelleen epävarmuutta, erityisesti kannattavuuden osalta. Osakkeen...

Gofore will publish its 2025 financial statements bulletin on Wednesday, 25 February 2026, at approximately 9.00 a.m. CEO Mikael Nylund will present the results in a live webcast on the same day at 1.00 p.m. The broadcast will also feature Gofore’s new CFO Saara Ukkonen, as well as Gofore’s AI expert and Director of Management Consulting Tommi Rasinmäki, and Osmo Haapaniemi, CEO of Valimo, Gofore’s new AI consulting associate company. Rasinmäki and Haapaniemi will also participate in the Q&A session and answer AI-related questions. The broadcast will be held in English and can be followed live or later as a recording at https://gofore.events.inderes.com/q4-2025 Welcome!

Welcome as a shareholder and to join us in Tampere on April 17!

It’s surprising that even this analysis hasn’t made its way into the thread yet; I guess everyone is already feeling the burn from the share price decline​:SEB Research I wouldn’t necessarily have noticed this myself either, but today I decided to join the honorable ranks of Gofore shareholders, with one important purchase criterion being that the annual general meeting is held in Tampere; it’s always fun to travel there​. Thanks @Emmi_Berlin1

Since I have criticized Joni’s analysis before and wondered about the multiples accepted for Gofore and the comparisons to international peers, it’s probably only fair to also point out now that Gofore’s share is approaching neutral pricing, i.e., €12/share.  Add a little margin of safety to this, and it would start to get interesting again.

Analyst comments regarding Gofore’s December results.                    Inderes              Goforen joulukuu oli varovaisia odotuksiamme parempi - Inderes    Goforen joulukuun liikevaihto ylitti varovaisen ennusteemme, mutta kokonaiskapasiteetti taas laski jonkin verran odotuksiamme enemmän.

Gofore

Gofore's revenue growth slowed organically in Q4, as expected, but profitability was well ahead of our expectations. Overall, Gofore's strong performance in a challenging year demonstrates the company's ability to adapt quickly to change and manage critical billing rates and profitability. We expect the company to continue to grow faster and more profitably than the sector in the coming years, even if the weak economy slows things down somewhat. The valuation picture (2024e adj. EV/EBIT 12x and expected return ~20%) is attractive.

<p>Gofore's revenue growth slowed organically in Q4, as expected, but profitability was well ahead of our expectations. Overall, Gofore's strong performance in a challenging year demonstrates the company's ability to adapt quickly to change and manage critical billing rates and profitability. We expect the company to continue to grow faster and more profitably than the sector in the coming years, even if the weak economy slows things down somewhat. The valuation picture (2024e adj. EV/EBIT 12x and expected return ~20%) is attractive.</p> 

	2022	23e	24e
Revenue	149.9	188.7	203.3
growth-%	43.5 %	25.9 %	7.7 %
EBIT (adj.)	22.0	25.1	26.4
EBIT-% (adj.)	14.7 %	13.3 %	13.0 %
EPS (adj.)	1.13	1.28	1.35
Dividend	0.34	0.44	0.50
Dividend %	1.5 %	3.9 %	4.5 %
P/E (adj.)	19.6	8.7	8.3
EV/EBITDA	14.1	5.5	4.7

Gofore: First-class profitability management

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Key Estimate Figures14.12.2023

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