Vincit
2.76 EUR +4.94%Vincit provides services in design and software development. The services include, for example, software for e-commerce and web applications, cloud platforms, mobile applications and IoT solutions. The services are used by both small and medium-sized corporate customers. The main operations are in Europe and North America. Vincit was founded in 2007 and is headquartered in Finland.
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Analyst
Financial calendar
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Kuitunen Mikko Antti Mikael | 7.7 % | 7.7 % |
Bcore Oy | 7.1 % | 7.1 % |
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Insider Transactions
Insider | Date | Total value |
---|---|---|
Julius Manni | 12.12.2023 | 21,331EUR |
Kimmo Kärkkäinen | 12.12.2023 | 59,600EUR |
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Forum updates
Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 52.4 | 61.5 | 84.8 | 98.1 | 94.4 | 100.5 | 108.2 | 114.7 |
growth-% | 8.7 % | 17.4 % | 37.9 % | 15.7 % | -3.7 % | 6.4 % | 7.7 % | 6.0 % |
EBITDA | 8.2 | 6.5 | 3.6 | 2.0 | 5.3 | 6.9 | 8.4 | 9.1 |
EBIT (adj.) | 7.6 | 5.1 | 5.2 | 3.4 | 4.3 | 6.2 | 7.5 | 8.0 |
EBIT | 6.0 | 4.1 | 0.2 | -2.2 | 1.1 | 3.0 | 4.3 | 4.8 |
Profit before taxes | 5.8 | 4.8 | 0.2 | -2.5 | 0.9 | 3.0 | 4.3 | 4.8 |
Net income | 4.4 | 3.5 | -0.3 | -2.9 | -0.1 | 1.5 | 2.6 | 3.0 |
EPS (adj.) | 0.50 | 0.40 | 0.32 | 0.16 | 0.19 | 0.29 | 0.35 | 0.37 |
growth-% | 131.6 % | -19.7 % | -20.7 % | -49.4 % | 16.9 % | 53.1 % | 22.0 % | 6.9 % |
Dividend | 0.18 | 0.20 | 0.15 | 0.10 | 0.15 | 0.17 | 0.20 | 0.22 |
Dividend ratio | 49.7 % | 70.4 % | -893.7 % | -57.8 % | -2,415.8 % | 182.4 % | 128.1 % | 122.0 % |
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Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 15.6 % | 10.5 % | 4.3 % | 2.0 % | 5.6 % | 6.9 % | 7.8 % | 7.9 % |
EBIT-% (adj.) | 14.5 % | 8.3 % | 6.1 % | 3.4 % | 4.6 % | 6.2 % | 6.9 % | 7.0 % |
EBIT-% | 11.4 % | 6.7 % | 0.3 % | -2.3 % | 1.2 % | 3.0 % | 4.0 % | 4.2 % |
ROE | 19.0 % | 13.6 % | -0.8 % | -7.4 % | -0.3 % | 4.6 % | 7.8 % | 9.0 % |
ROI | 24.3 % | 15.4 % | 0.7 % | -5.7 % | 3.1 % | 8.8 % | 12.9 % | 14.3 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 7.18 | 8.02 | 4.16 | 3.23 | 2.76 | 2.76 | 2.76 | 2.76 |
Shares | 12.1 | 12.2 | 16.5 | 16.6 | 16.6 | 16.6 | 16.6 | 16.6 |
Market cap | 86.7 | 98.1 | 68.7 | 53.5 | 45.7 | 45.7 | 45.7 | 45.7 |
Enterprise value | 77.0 | 89.5 | 58.5 | 41.4 | 34.3 | 32.9 | 30.7 | 28.5 |
EV/S | 1.5 | 1.5 | 0.7 | 0.4 | 0.4 | 0.3 | 0.3 | 0.2 |
EV/EBITDA | 9.4 | 13.9 | 16.2 | 21.2 | 6.5 | 4.7 | 3.7 | 3.1 |
EV/EBIT (adj.) | 10.2 | 17.5 | 11.3 | 12.3 | 8.0 | 5.3 | 4.1 | 3.5 |
EV/EBIT | 12.9 | 21.8 | 248.9 | - | 30.9 | 11.0 | 7.1 | 5.9 |
P/E (adj.) | 14.5 | 20.1 | 13.2 | 20.2 | 14.8 | 9.6 | 7.9 | 7.4 |
P/E | 19.8 | 28.2 | - | - | - | 29.6 | 17.7 | 15.3 |
P/B | 3.5 | 3.7 | 1.7 | 1.5 | 1.3 | 1.4 | 1.4 | 1.4 |
P/S | 1.7 | 1.6 | 0.8 | 0.5 | 0.5 | 0.5 | 0.4 | 0.4 |
Dividend yield | 2.5 % | 2.5 % | 3.6 % | 3.1 % | 5.4 % | 6.2 % | 7.2 % | 8.0 % |
Equity ratio | 72.6 % | 70.2 % | 67.0 % | 63.4 % | 64.5 % | 62.4 % | 60.5 % | 56.9 % |
Gearing ratio | -38.3 % | -31.6 % | -24.5 % | -33.4 % | -33.2 % | -38.3 % | -45.1 % | -52.4 % |
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Quarter data
Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24e | Q2/24e | Q3/24e | Q4/24e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 52.8 | 45.3 | 98.1 | 48.0 | 46.4 | ||||
EBITDA | 2.3 | -0.4 | 2.0 | 2.1 | 3.2 | ||||
EBIT | 0.3 | -2.5 | -2.2 | -0.0 | 1.1 | ||||
Profit before taxes | 0.1 | -2.6 | -2.5 | -0.1 | 1.0 | ||||
Net income | -0.3 | -2.6 | -2.9 | -0.5 | 0.4 |
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IT service sector valuation levels at the bottom of our 7-year monitoring history, justifiably?
We expect the IT services sector to grow moderately and profitability to increase slightly in 2024
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