Solid foundation for future growth
To our minds, F-Secure offers a well-managed and run combination of investment-phase business seeking strong growth (corporate security) and stable business built on a solid foundation. During the past 5 years, the company has undergone a significant transformation from a consumer-driven endpoint protection company into a corporate cybersecurity company. During the last year, the transformation has now clearly progressed to a phase of acceleration, with F-Secure finding an acquisition target matching its strategy and the new product areas key to the strategy are beginning to be visible in the form of accelerating growth. With the strategy proceeding on the current path, we find the risk/reward ratio of the share attractive.
WithSecure
WithSecure operates in the IT sector. The company specializes in cyber security solutions. Today, the company provides IT solutions that are used to manage computer viruses and other potential IT threats within data, mobile and cloud services. The company's services are mainly offered to business customers and larger institutions. Operations are held around the Nordic and European markets. The head office is in Helsinki.
Read more on company pageKey Estimate Figures19.07.2019
2018 | 19e | 20e | |
---|---|---|---|
Revenue | 190.7 | 221.0 | 238.3 |
growth-% | 12.36 % | 15.89 % | 7.80 % |
EBIT (adj.) | 10.6 | 9.2 | 17.4 |
EBIT-% (adj.) | 5.58 % | 4.16 % | 7.32 % |
EPS (adj.) | 0.04 | 0.04 | 0.08 |
Dividend | 0.00 | 0.00 | 0.03 |
Dividend % | 2.86 % | ||
P/E (adj.) | 21.21 | 29.63 | 13.58 |
EV/EBITDA | 11.33 | 5.61 | 5.80 |