Copyright © 2021. Inderes Oyj. All rights reserved.

Talenom

Analyst

Juha Kinnunen

Juha Kinnunen

Osakestrategi, analyytikko

Read more

Latest insider trading

Net impact profile

Third party research
9.2.
2021

Talenom’s Q4 was rather well in line with our expectations and with our 2021 estimates corresponding well with the guidance our estimates remain largely intact. Preparations for continued growth remain on the agenda. Our target price remains unchanged at EUR 11.5, our rating is now HOLD (SELL).

Third party research
2.2.
2021

Talenom’s shares have performed well (+32% in 3M) and a lot of the long-term growth potential is already priced in at 2021E EV/EBIT of 37x, in our view. We expect Talenom to continue growing at double-digits in the coming years, but in 2021 a potential rise in Finnish bankruptcies represents a risk to our estimates.

We increase our 12M fair value range to EUR10-12 (EUR9-11).

Third party research
10.12.
2020

Third party research
27.10.
2020

Third party research
26.10.
2020

Talenom's net sales grew 10.0% in Q3 to EUR 14.8m, slightly below our and consensus estimates (EUR 15.3/15.2m Evli/cons.). EBIT amounted to EUR 3.1m, above our and consensus estimates (EUR 2.6m/2.8m Evli/cons.). Guidance remains intact, net sales for 2020 are expected to amount to EUR 64-68m and operating profit to EUR 12-14m.
Third party research
22.10.
2020

Inderes Q&A
26.2.
2018

Hei, Kuten todettu tilitoimistomarkkina on hyvin fragmentoitunut ja edessä näyttää olevan paljon konsolidaatiota. Talenom on perinteisesti nähty orgaanisena kasvuyhtiönä, vaikka on on jonkun yritysoston tehnytkin. Vaikka Talenom on Suomen markkinalla yksi isoimmista pelureista, voisiko se olla myös ostokohteena esimerkiksi Accountorin tai Rantalaisen suunnasta? Molemmat talot ovat orientoituneet yritysostoilla kasvuun, ja Accountor erityisesti isomman mittaluokan yritysostoihin.

Inderes Q&A
13.2.
2018

Kiitos hyvin pureskellusta Talenom-analyysista!

Talenom

Eesti keel translation unavailable for Talenom.