Financials Admicom Oyj

Equities

ADMCM

FI4000251830

Software

Market Closed - Nasdaq Helsinki Other stock markets 08:53:01 03/05/2024 pm IST			5-day change	1st Jan Change
43 ^EUR	0.00%		-0.58%	-0.58%

19/01	Admicom Oyj Reports Earnings Results for the Full Year Ended December 31, 2023	CI
19/01	Admicom Oyj acquired Trackinno Oy.	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	99.65	314.5	664.9	416.2	231.9	214.4	214.4	-
Enterprise Value (EV) ¹	88.88	298.2	651.1	398.1	231.9	209.8	203.7	197.6
P/E ratio	29 x	59.1 x	99.3 x	51.8 x	29.1 x	34.1 x	36 x	28.4 x
Yield	-	1.12%	0.67%	1.78%	2.8%	2.57%	1.75%	1.94%
Capitalization / Revenue	8.7 x	20.1 x	30.3 x	16.7 x	7.33 x	6.28 x	6.01 x	5.53 x
EV / Revenue	7.76 x	19.1 x	29.7 x	16 x	7.33 x	6.11 x	5.71 x	5.1 x
EV / EBITDA	18.5 x	41.7 x	65.4 x	33.6 x	16.4 x	16.4 x	16.8 x	14.3 x
EV / FCF	22.8 x	51 x	87.7 x	35.6 x	20.7 x	21 x	23 x	20 x
FCF Yield	4.39%	1.96%	1.14%	2.81%	4.83%	4.76%	4.35%	5.01%
Price to Book	8.79 x	19.3 x	29.5 x	13.4 x	7.89 x	7.38 x	6.71 x	5.99 x
Nbr of stocks (in thousands)	4,838	4,883	4,925	4,925	4,986	4,986	4,986	-
Reference price ²	20.60	64.40	135.0	84.50	46.50	43.00	43.00	43.00
Announcement Date	11/01/19	10/01/20	15/01/21	21/01/22	13/01/23	19/01/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	11.46	15.64	21.92	24.86	31.62	34.32	35.65	38.76
EBITDA ¹	4.796	7.155	9.954	11.86	14.12	12.8	12.11	13.81
EBIT ¹	4.291	6.613	8.618	10.37	10.81	8.823	8.343	10.11
Operating Margin	37.46%	42.28%	39.32%	41.73%	34.2%	25.71%	23.4%	26.08%
Earnings before Tax (EBT) ¹	4.076	6.629	8.609	10.33	10.62	8.329	8.067	9.992
Net income ¹	3.252	5.291	6.699	8.054	7.975	6.317	5.95	7.554
Net margin	28.39%	33.83%	30.57%	32.4%	25.23%	18.41%	16.69%	19.49%
EPS ²	0.7100	1.090	1.360	1.630	1.600	1.270	1.195	1.514
Free Cash Flow ¹	3.902	5.852	7.424	11.17	11.19	9.984	8.867	9.9
FCF margin	34.06%	37.41%	33.87%	44.94%	35.39%	29.09%	24.87%	25.54%
FCF Conversion (EBITDA)	81.36%	81.79%	74.59%	94.17%	79.27%	78%	73.2%	71.71%
FCF Conversion (Net income)	119.99%	110.6%	110.83%	138.69%	140.3%	158.05%	149.02%	131.06%
Dividend per Share ²	-	0.7200	0.9100	1.500	1.300	1.105	0.7525	0.8350
Announcement Date	11/01/19	10/01/20	15/01/21	21/01/22	13/01/23	19/01/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S1	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2021 S2	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3
Net sales ¹	7.664	6.18	6.471	6.164	6.329	12.49	8.214	15.54	8.039	8.04	16.08	8.208	9.417	8.502	8.427	8.6	9.033	8.91
EBITDA ¹	3.512	2.96	2.96	3.275	2.665	5.94	4.068	7.36	3.806	2.949	6.775	3.009	3.586	3.762	2.9	-	3	3.67
EBIT ¹	3.228	2.6	2.886	2.895	2.28	5.174	3.367	6.096	2.925	1.79	4.715	2.263	2.836	3.004	2.133	1.6	2.067	2.733
Operating Margin	42.12%	42.07%	44.6%	46.97%	36.02%	41.42%	40.99%	39.24%	36.39%	22.26%	29.32%	27.57%	30.12%	35.33%	25.32%	18.6%	22.88%	30.68%
Earnings before Tax (EBT) ¹	-	2.6	2.88	2.895	2.237	6.315	3.01	6.026	2.3	-	-	-	-	2.5	2.3	-	1.8	2.5
Net income ¹	-	2.02	2.25	2.251	1.759	4.01	2.538	4.597	2.139	1.239	3.378	1.595	2.073	2.194	1.7	1.1	1.5	2
Net margin	-	32.69%	34.77%	36.52%	27.79%	32.1%	30.9%	29.59%	26.61%	15.41%	21.01%	19.43%	22.01%	25.81%	20.17%	12.79%	16.61%	22.45%
EPS ²	0.5300	0.4100	0.4600	0.4600	0.3500	0.8100	0.5100	0.9200	0.4300	0.2500	-	0.3200	0.4200	0.4400	0.3333	0.2100	0.3100	0.4033
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	05/07/19	06/07/22	02/07/21	04/10/21	21/01/22	21/01/22	06/07/22	06/07/22	03/10/22	13/01/23	13/01/23	05/04/23	05/07/23	05/10/23	-	-	-	-

¹EUR in Million²EUR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	10.8	16.3	13.8	18.1	-	5.85	10.7	16.8
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	3.9	5.85	7.42	11.2	11.2	9.98	8.87	9.9
ROE (net income / shareholders' equity)	45%	38%	34.5%	29.8%	26.3%	21.7%	22.3%	24.7%
ROA (Net income/ Total Assets)	-	-	-	25.1%	18.2%	14%	15.2%	16.5%
Assets ¹	-	-	-	32.13	43.77	45.1	39.25	45.68
Book Value Per Share ²	2.340	3.340	4.570	6.300	5.900	5.860	6.410	7.170
Cash Flow per Share ²	0.8300	1.250	1.520	2.250	2.250	2.080	1.950	2.430
Capex ¹	0.11	0.25	6.49	0.06	0.01	0.37	0.87	0.59
Capex / Sales	0.94%	1.63%	29.63%	0.24%	0.03%	1.07%	2.45%	1.53%
Announcement Date	11/01/19	10/01/20	15/01/21	21/01/22	13/01/23	19/01/24	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Admicom Oyj

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

43 EUR

Average target price

46.67 EUR

Spread / Average Target

+8.53%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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