CapMan: After earnings improvement the focus is on earnings mix
The Q3 report was very strong in terms of figures but estimate changes have remained moderate as the earnings overshoot largely come from investments. The company's earnings improvement continues materializing strongly and the earnings outlook for the next few years is good. Relative to estimates, the share isn’t particularly expensive and this together with a strong dividend yield keeps the share’s return/risk ratio sufficient.
CapMan
CapMan is an investment company. The vision is to be a long-term owner and create added value for the shareholders in the long term. CapMan mainly invests in medium-sized unlisted companies, properties and infrastructure facilities around the Nordic market. Furthermore, the company offers asset management, purchasing activities as well as analysis, reporting and back office services. CapMan was founded in 1989 and its headquarters are in Helsinki.
Read more on company pageKey Estimate Figures27.10.2021
2020 | 21e | 22e | |
---|---|---|---|
Revenue | 43.0 | 58.1 | 74.4 |
growth-% | -12.22 % | 35.16 % | 28.02 % |
EBIT (adj.) | 12.3 | 46.4 | 45.3 |
EBIT-% (adj.) | 28.70 % | 79.83 % | 60.84 % |
EPS (adj.) | 0.03 | 0.23 | 0.22 |
Dividend | 0.14 | 0.15 | 0.16 |
Dividend % | 6.05 % | 7.61 % | 8.12 % |
P/E (adj.) | 70.13 | 8.56 | 9.03 |
EV/EBITDA | 28.69 | 7.18 | 7.21 |