Wärtsilä
19.76 EUR +4.91%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.
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Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Invaw Invest AB | 17.7 % | 17.7 % |
Varma Mutual Pension Insurance Company | 5.4 % | 5.4 % |
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Insider Transactions
Insider | Date | Total value |
---|---|---|
Håkan Agnevall | 13.11.2023 | 174,833EUR |
Håkan Agnevall | 13.11.2023 | 4,228EUR |
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Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 4,604.0 | 4,778.0 | 5,843.0 | 6,014.0 | 7,105.4 | 7,471.1 | 7,883.9 | 8,211.9 |
growth-% | -10.9 % | 3.8 % | 22.3 % | 2.9 % | 18.1 % | 5.1 % | 5.5 % | 4.2 % |
EBITDA | 408.0 | 476.0 | 240.0 | 595.0 | 857.8 | 958.8 | 1,026.5 | 1,073.9 |
EBIT (adj.) | 308.0 | 388.0 | 328.0 | 497.0 | 721.8 | 799.3 | 862.8 | 910.4 |
EBIT | 234.0 | 314.0 | -23.0 | 402.0 | 708.8 | 799.3 | 862.8 | 910.4 |
Profit before taxes | 191.0 | 296.0 | -30.0 | 365.0 | 678.2 | 788.9 | 862.4 | 919.0 |
Net income | 134.0 | 193.0 | -63.0 | 258.0 | 475.0 | 547.9 | 599.3 | 639.0 |
EPS (adj.) | 0.33 | 0.44 | 0.48 | 0.56 | 0.82 | 0.93 | 1.02 | 1.08 |
growth-% | -41.7 % | 30.5 % | 9.3 % | 16.8 % | 47.9 % | 12.9 % | 9.4 % | 6.6 % |
Dividend | 0.20 | 0.24 | 0.26 | 0.32 | 0.40 | 0.50 | 0.60 | 0.65 |
Dividend ratio | 88.3 % | 73.4 % | -243.5 % | 73.1 % | 49.6 % | 53.8 % | 59.0 % | 59.9 % |
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Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 8.9 % | 10.0 % | 4.1 % | 9.9 % | 12.1 % | 12.8 % | 13.0 % | 13.1 % |
EBIT-% (adj.) | 6.7 % | 8.1 % | 5.6 % | 8.3 % | 10.2 % | 10.7 % | 10.9 % | 11.1 % |
EBIT-% | 5.1 % | 6.6 % | -0.4 % | 6.7 % | 10.0 % | 10.7 % | 10.9 % | 11.1 % |
ROE | 5.9 % | 8.6 % | -2.8 % | 11.8 % | 20.1 % | 20.5 % | 20.1 % | 19.5 % |
ROI | 6.7 % | 9.5 % | 0.2 % | 13.2 % | 23.0 % | 25.2 % | 26.5 % | 27.2 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 8.15 | 12.36 | 7.87 | 13.13 | 19.76 | 19.76 | 19.76 | 19.76 |
Shares | 591.7 | 590.0 | 590.0 | 589.0 | 589.0 | 589.0 | 589.0 | 589.0 |
Market cap | 4,822.5 | 7,292.7 | 4,643.5 | 7,733.9 | 11,639.1 | 11,639.1 | 11,639.1 | 11,639.1 |
Enterprise value | 5,230.5 | 7,300.7 | 5,131.5 | 7,775.9 | 11,770.6 | 11,503.1 | 11,251.8 | 11,003.2 |
EV/S | 1.1 | 1.5 | 0.9 | 1.3 | 1.7 | 1.5 | 1.4 | 1.3 |
EV/EBITDA | 12.8 | 15.3 | 21.4 | 13.1 | 13.7 | 12.0 | 11.0 | 10.2 |
EV/EBIT (adj.) | 17.0 | 18.8 | 15.6 | 15.6 | 16.3 | 14.4 | 13.0 | 12.1 |
EV/EBIT | 22.4 | 23.3 | - | 19.3 | 16.6 | 14.4 | 13.0 | 12.1 |
P/E (adj.) | 24.3 | 28.3 | 16.5 | 23.6 | 24.0 | 21.2 | 19.4 | 18.2 |
P/E | 36.0 | 37.8 | - | 30.0 | 24.5 | 21.2 | 19.4 | 18.2 |
P/B | 2.2 | 3.2 | 2.2 | 3.5 | 4.6 | 4.1 | 3.7 | 3.4 |
P/S | 1.0 | 1.5 | 0.8 | 1.3 | 1.6 | 1.6 | 1.5 | 1.4 |
Dividend yield | 2.5 % | 1.9 % | 3.3 % | 2.4 % | 2.0 % | 2.5 % | 3.0 % | 3.3 % |
Equity ratio | 37.8 % | 38.6 % | 35.8 % | 36.2 % | 38.3 % | 41.7 % | 44.6 % | 47.1 % |
Gearing ratio | 18.7 % | 0.3 % | 22.7 % | 1.9 % | 5.2 % | -4.8 % | -12.3 % | -18.6 % |
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Quarter data
Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24e | Q4/24e | 2024e | Q1/25e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 1,452.0 | 1,643.0 | 6,014.0 | 1,322.0 | 1,556.0 | 1,879.5 | 2,347.9 | 7,105.4 | |
EBITDA | 150.0 | 173.0 | 595.0 | 162.0 | 205.0 | 204.0 | 286.8 | 857.8 | |
EBIT | 116.0 | 128.0 | 402.0 | 127.0 | 168.0 | 166.0 | 247.8 | 708.8 | |
Profit before taxes | 107.0 | 121.0 | 365.0 | 118.0 | 160.4 | 159.0 | 240.8 | 678.2 | |
Net income | 81.0 | 95.0 | 258.0 | 85.0 | 116.4 | 111.3 | 162.3 | 475.0 |
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Wärtsilä Q2'24: Good outlook already priced into the stock
Wärtsilä Q2'24: Impressive Results
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