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Research

Tietoevry: Stable return potential at a discount

By Joni GrönqvistAnalyst
Tietoevry
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Tietoevry's Q3 was well in line with our expectations in terms of operational activities and comments. We made only minor adjustments to our forecasts and expect moderate earnings growth from the company driven by revenue and profitability. Tietoevry's good track record maintain confidence in continued positive development in the coming years, although our estimates are clearly below the company's target level. The share's valuation picture is still attractive from several angles (2023e P/E 13x, adj. P/E 10x, DCF EUR 30, SOTP EUR 31 and expected return over 15%) and business areas to be separated provide drivers to dismantle the undervaluation.

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Tieto is a Nordic provider of digital services and software founded in 1968. The company is headquartered in Finland and employs experts worldwide. It serves thousands of private and public sector customers in nearly 100 countries.

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Forum discussions

Is Tieto being groomed for sale, as it feels like they are streamlining quite commendably now?
2/18/2026, 9:39 AM
8
News Powered by Cision Tieto myy kaksi Tieto Indtechin ohjelmistoliiketoimintaa EG:lle Tietoevry Oyj LEHDISTÖTIEDOTE 18.2.2026 klo 9.30 Tieto...
2/18/2026, 7:31 AM
by Cadel
25
News Powered by Cision Tieto ja Orange Business puitesopimukseen kapasiteetti- ja jatkuvien... Tietoevry Oyj LEHDISTÖTIEDOTE 17.2.2026 klo 10...
2/17/2026, 8:05 AM
by Cadel
17
Message merged into thread: Inderes.fi content development ideas
2/14/2026, 10:17 AM
by Sijoittaja-alokas
0
I support company-paid analysis. Company-paid analysis makes the existence of the coverage itself possible. As for Premium, I pay for the tool...
2/13/2026, 8:05 PM
by Pati_
6
Yep. Back when I was working at Tieto, as soon as Alkio arrived, everything started going downhill. I don’t know if it has anything to do with...
2/13/2026, 7:27 PM
by Pietu
6
At Tieto, things finally seem to be heading in a better direction after a long time. Replacing Alkio with a Norwegian was clearly a good move...
2/13/2026, 6:31 PM
by Hege_
10
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