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
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      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
    }
  }
}


tekova-high-dividend-yield-supports-while-we-wait-for-profitability-to-settle-evli

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Tekova is a construction company in Finland, specializing in the construction of business premises, offices, logistics, production and sports facilities. The projects are tailored to the needs of the customers. The regional companies include Tekova Länsi-Suomi Oy in Tampere and Tekova Pohjois-Suomi Oy in Kempele. Tekova was founded in 2018 and has its headquarters in Vantaa.

Also an updated report from Juho Tilli at Evli:   Tekova - High dividend yield supports while we wait for profitability to settle Very much in line with Inderes. However, a slightly larger cut to the target price and the recommendation changed: buy → accumulate. Evidence of the profitability of self-developed projects is expected this year.  We lower our target price to EUR 1.45 (EUR 1.7) and change rating ACCUMULATE (BUY).   Tekova’s Q4 was strong but EBIT guidance for 2026 was wide. Current year is likely to be a gap year after very strong 2025, but it will reveal the profitability of real estate development. A high dividend yield of almost 7% supports positive rating, but we cut profitability estimates for the coming years.   Valuation is still low but wide guidance leaves question marks for 2026. With current EPS estimates P/E ratio for 2026 and 2027 is 8.4 and 7.3. We see P/E of 8 as a fair level until profitability of real estate development is proven. Current dividend yield of 6.7 % contributes meaningfully to expected return while we wait to see how profitability for 2026 unfolds.

Atte has published a new company report on Tekova following the release of the Q4 results.  Tekova’s revenue grew even more strongly than our forecasts in Q4 as the company’s massive data center project progressed faster than we expected. Reflecting the order backlog recognized at a high pace last year and the company’s guidance, we have lowered our forecasts for the current year. Despite the changes, the valuation remains at a modest level, and the expected return consequently stays attractive. In addition to the modest valuation, the expected return is supported by a strong dividend yield. Following the forecast changes, we are lowering our target price to EUR 1.50 (previously EUR 1.65); our recommendation remains at Accumulate. Quoted from the report: Valuation does not require miracles. Despite the negative forecast changes, the stock’s pricing still appears attractive in our view. Based on our 2026 forecast, Tekova’s stock is valued at a P/E ratio of 8x, while the EV/EBIT multiple, which takes into account the significant net cash, is around 4x. Based on the current year’s forecast and our acceptable valuation (P/E: 8–10x, EV/EBIT: 6–8x), the stock still has upside potential. However, in our view, a more significant upside from current levels would require earnings growth to accelerate more strongly than we expect. On the other hand, a dividend yield of approximately 7% also supports the stock’s expected return in the coming years.                   Inderes              Tekova Q4'25: Hengähdys vahvan kasvuvuoden jälkeen - Inderes    Viime vuonna vauhdilla tuloutunutta tilauskantaa sekä yhtiön ohjeistusta peilaten olemme laskeneet ennusteitamme kuluvalle vuodelle.

Heikkilä actually says in the interview that the lower bound of that EUR 6.5 million EBIT guidance is a worst-case scenario. Word for word: “we want to be cautious … and go by the worst possible alternative at that lower end.” So, should this be interpreted a bit differently than corporate guidance usually is? And in practice, in a normally good year, there would be a couple of positive profit warnings? Since the market is currently pricing in that Tekova will perform worse in the future than it has so far, it will be interesting to see when (if ever) the undervaluation starts to unwind, provided the company succeeds in generating steadily growing operating profit in line with its targets for, say, a few years. In the current situation, Tekova ranks reasonably well on “best dividend stocks” lists (of course, one has to look under First North); we’ll see if this affects, for example, retail investor interest or the number of shareholders.

Atte interviewed Tekova’s CEO Jaakko Heikkilä                    Inderes              Tekova Q4'25: Hyvin menee mutta menkööt - Inderes    Aika: 12.02.2026 klo 11.33 Tekovan vuoden 2025 viimeinen neljännes oli operatiivisesti erittäin vahva: Q4:n liikevaihto kasvoi 41,9 prosenttia. Myös kannattavuus säilyi hyvällä tasolla. Tekovan hallitus ehdottaa tilikaudelta 2025 maksettavaksi...                             Topics: 00:00 Introduction  00:11 Tekova’s year 2025  00:52 Project highlights  01:15 Guidance  02:32 Financial targets  02:55 Self-developed projects  03:56 Contracting market  05:06 Data center construction  06:04 New regional company  06:45 Impact of Indoor’s bankruptcy on demand  08:34 Dividend

Here are Atte’s quick comments on this morning’s results.  Tekova announced fourth-quarter figures on Thursday that were stronger than our expectations. The company’s revenue growth accelerated more than anticipated toward the end of the year, and profitability also remained at a good level. We believe the company’s data center project continued to support growth more significantly than we expected. The 2026 guidance reflects a stabilization following an exceptionally strong year of growth.                   Inderes              Tekova Q4’25 -pikakommentti: Kasvu tasoittuu kuluvana vuonna - Inderes    Vuoden 2026 ohjeistus heijastelee poikkeuksellisen vahvan kasvuvuoden jälkeistä tasaantumista.

The guidance for this year is indeed exceptionally soft. This was, however, already foreshadowed by the notes in yesterday’s target update. Management has mentioned before that profitability is more important than (rapid) growth, and a suitable scale for Tekova in its current form could be somewhere around—was it €150M in annual revenue? It’s also worth remembering that last year, the guidance was raised throughout the year as growth exceeded expectations. On the other hand, management’s performance across various forums has been so confident that I would consider declining revenue in 2026 a clear flop, regardless of profitability. I must also say right away that the profitability guidance is an even bigger disappointment than the growth guidance. The lower bound of the profitability guidance is so soft that if they end up there by the end of 2026 by “prioritizing profitability over growth,” then business must have gone quite poorly. The multiples aren’t extreme, even if revenue and profitability were to dip slightly. Based on realized figures, EV/EBIT is under 4 and P/E is under eight. But if the business metrics trend in the wrong direction, then it’s probably not worth paying any more than this.

Inderes              Tekova Oyj:n tilinpäätöstiedote 2025: Kasvu ylitti odotukset, kannattavuus...    Tekova Oyj, yhtiötiedote 12.2.2026, klo 08.00Tekova Oyj:n tilinpäätöstiedote 2025: Kasvu ylitti odotukset, kannattavuus erinomaisella tasollaTärkeimmät tapahtumat tammi-joulukuussa 2025Liikevaihto...                             Here’s the report to dig into. At a quick glance, the guidance looks very cautious and the dividend proposal is one cent above expectations.

Tekova

Tekova’s Q4 was strong but EBIT guidance for 2026 was wide. Current year is likely to be a gap year after very strong 2025, but it will reveal the profitability of real estate development. A...

Tekova’s Q4 was strong but EBIT guidance for 2026 was wide. Current year is likely to be a gap year after very strong 2025, but it will reveal the profitability of real estate development. A high dividend yield of almost 7% supports positive rating, but we cut profitability estimates for the coming years.