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Wärtsilä: Easing off the gas in the price rally

WRT1VResearch15.11.2022 klo 10.10

Erkki VesolaAnalyst

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Yesterday, Wärtsilä hosted a mid-Q4 conference that had a positive tone in terms of key demand and profitability drivers. At this stage, our estimates remain unchanged.

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Wärtsilä specializes in power solutions for the marine and energy sectors. The business is managed based on several business segments and the range includes integrated system solutions, spare parts, and associated service functions during the installation cycle, but also complete operation and optimization services. The company was originally founded in 1834 and is headquartered in Helsinki, Finland.

Key Estimate Figures14.11.2022

	2021	22e	23e
Revenue	4,778.0	5,851.7	6,232.0
growth-%	3.8 %	22.5 %	6.5 %
EBIT (adj.)	357.0	369.0	471.9
EBIT-% (adj.)	7.5 %	6.3 %	7.6 %
EPS (adj.)	0.40	0.50	0.52
Dividend	0.24	0.35	0.40
Dividend %	1.9 %	1.2 %	1.3 %
P/E (adj.)	31.0	60.0	57.4
EV/EBITDA	16.8	62.6	30.4

Forum discussions

That news article mentions €28.5 million in development cooperation funding. The total value of the project is stated as €46.5 million in the...

8/13/2026, 1:19 PM

by Hermot Lehman

Wärtsilä to supply power plants to Ukraine from Vaasa | Ostrobothnia | Yle Financially, this isn’t exactly moving from land to sea, but I’ll...

8/13/2026, 10:59 AM

by Jukka

Here is a historical piece regarding Wärtsilä Word spread about Wärtsilä’s new miracle engine, but at first, customers were skeptical. “Many...

8/7/2026, 7:14 PM

by Sijoittaja-alokas

Ilkka Sinervä has been writing about Wärtsilä and has quoted Hannu Angervuo in his article Asset management stock market veteran Hannu Angervuo...

7/29/2026, 9:28 AM

by Sijoittaja-alokas

Miksu and Pauli discussed Wärtsilä inspired by the Q2 results. Topics: (00:00) Introduction (00:16) Positive recommendation (01:35) Smaller ...

7/24/2026, 11:52 AM

by Sijoittaja-alokas

Inderes Wärtsilä Oyj Abp - Johdon liiketoimet: Agnevall, Håkan - Inderes Wärtsilä Oyj Abp, Johdon liiketoimet, 22.7.2026 klo 15:00Wärtsilä Oyj...

7/22/2026, 12:12 PM

by Tunturisusi

I couldn’t figure out how to translate the message in a meaningful way, so I’m posting a copy from the “Stock Hype” (Kurssien hehkuttelu) thread...

7/22/2026, 11:32 AM

by Thiebault

Wärtsilä: Easing off the gas in the price rally

WRT1VResearch15.11.2022 klo 10.10

Erkki VesolaAnalyst

Discuss

Download report (PDF)

Yesterday, Wärtsilä hosted a mid-Q4 conference that had a positive tone in terms of key demand and profitability drivers. At this stage, our estimates remain unchanged.

Login required

This content is only available for logged in users

Create account

Key Estimate Figures14.11.2022

	2021	22e	23e
Revenue	4,778.0	5,851.7	6,232.0
growth-%	3.8 %	22.5 %	6.5 %
EBIT (adj.)	357.0	369.0	471.9
EBIT-% (adj.)	7.5 %	6.3 %	7.6 %
EPS (adj.)	0.40	0.50	0.52
Dividend	0.24	0.35	0.40
Dividend %	1.9 %	1.2 %	1.3 %
P/E (adj.)	31.0	60.0	57.4
EV/EBITDA	16.8	62.6	30.4