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
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      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
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Mikael Rautanen

Head of Nordic ER Development, Analyst

Antti Luiro

QT Group operates in the IT sector. The group develops various development tools for the global market. The technology is based on QT technology and is used to develop multi-platform interfaces and associated applications. The services are used in, among other things, industrial robots, entertainment systems, and vehicle systems. Operations are conducted on a global level and customers are found in the automotive and aerospace industries.

That’s what I believe too, and on the other hand, there’s hardly even a need for meticulous analysis; most things are already known by December.

Personally, I don’t believe in a negative profit warning, and certainly not a positive one either. Following the last profit warning, the guidance was adjusted enough that they should reach it. And a positive warning would surely require some major new partnership, and that would definitely be reported.

But isn’t this ultimately a question of how quickly the year-end sales data can be collected and analyzed?

On the other hand, last year the negative profit warning came on Friday, Jan 3, 2025, and the Q4 report was on Feb 13, 2025. The year before last, the negative profit warning was given on Friday, Jan 5, 2024, and the Q4 report was on Feb 16, 2024. This year, the quarterly report is 2 weeks later, i.e., not until Feb 26, 2026. Previously, about 1 month and 10 days have passed between the negative profit warning and the report. If the same pattern continues, I wouldn’t be surprised if a profit warning announcement comes next Friday, Jan 16, 2026.

Just as a reminder, last year the profit warning was issued on January 3rd. So, we can probably forget about a profit warning this time around.

Neither a profit warning nor a positive profit warning has been issued yet! I’m sure the orders for the rest of the year are already well known to the company. Current guidance: "We estimate that full-year 2025 net sales will grow by 3-10 percent in constant currencies from the previous year and that the operating profit margin (EBITA %) will be 20-30 percent in 2025. The profit guidance includes the estimated impact of the IAR Systems Group acquisition on Qt Group’s net sales and operating profit for the remainder of the year."

My doubts regarding competitors are largely based on speculation, so it’s perfectly fine to disagree with me on that. I think @Antti_Luiro provides an interesting assessment of Qt’s competitive landscape in the attached InderesTV video, which was published a couple of months ago. Of course, Luiro’s views aren’t nearly as pessimistic as mine, but my suspicions stem partly from my own caution, which then reflects on a company like Qt in such a way that my portfolio remains closed to the company. @Vilu already wrote well about what the core problem for Qt is from an investor’s perspective right now.

Qt Group

Qt’s operational performance continues as strong, the outlook is good, and the company progresses in line with its strategy in expanding to new areas. The share’s valuation is still tight, and...

<p>Qt’s operational performance continues as strong, the outlook is good, and the company progresses in line with its strategy in expanding to new areas. The share’s valuation is still tight, and we see no room to stretch the multiples, but if the strong performance continues as we predict time will adjust the valuation.</p> 

	2020	21e	22e
Revenue	79.4	113.5	149.0
growth-%	36.1 %	42.9 %	31.2 %
EBIT (adj.)	17.0	25.9	49.4
EBIT-% (adj.)	21.4 %	22.8 %	33.1 %
EPS (adj.)	0.53	0.86	1.55
Dividend	0.00	0.51	0.55
Dividend %	0.0 %	1.5 %	1.7 %
P/E (adj.)	108.8	38.6	21.4
EV/EBITDA	70.7	27.8	15.4

Qt: Tolerance level of valuation tested

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Key Estimate Figures23.04.2021

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