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Digital Workforce

3.68

 

EUR

 

-0.54 %

DWF

First North Finland

IT Services

Technology

1,189 following
-0.54%
-3.66%
-5.15%
-8%
-7.54%
+21.85%
+5.75%
-
-
-41.49%
digitalworkforce.com/investors

Digital Workforce is a service provider that specializes in process automation services on an industrial scale. The company's service offering covers the entire life cycle of intelligent automation: design and consulting, development and deployment, cloud-based platform, support and maintenance, and further development. The company offers services and solutions to a wide range of customers in various industries, including finance, healthcare, industry, logistics, and various public actors.

P/E (adj.) (24e)
47.02
EV/EBIT (adj.) (24e)
31.23
EV/S (24e)
0.97
Dividend yield-% (24e)
-
Target price
4.70 EUR
Recommendation
Accumulate
Updated
3.11.2024
First North Finland
DWF
Daily low / high price
3.3 / 3.72 EUR
Market cap
41.52M EUR
Turnover
6.58K EUR
Volume
1.8K
Business risk
Valuation risk
Current
Previous

Latest research

Digital Workforce Q3'24: On a good growth track
2024-11-04
Digital Workforce Q2'24: Improved growth prospects
2024-08-26
Good start and prospects for the current year
2024-05-06

Extensive report

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The latest extensive report was released
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Analyst

Joni Grönqvist
Joni Grönqvist
Analyst

Latest videos

Helsingforsbörsens IT-konsulter bromsar in - i övriga Norden tuffar det på
2023-09-06
inderesPodcast: 2.En djupdykning i Helsingforsbörsens IT-tjänstesektor
2022-10-05
Digital Workforce Q2’22: Satsningar på tillväxt och lönsamhet
2022-08-23

Forum updates

Stay up-to-date with the latest talk about Digital Workforce
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Ny analys efter Q2 rapporten: Inderes Digital Workforce Q2'24: Improved growth prospects - Inderes Digital Workforce performed better than expected in Q2, with a significant acceleration in growth driven by strategically important Continuous Services. In addition, comments on sales and growth for the rest of the year were cautiously positive. At...
Jesper Hagman
8/26/2024, 8:14 AM💙 2
Analytikerkommentar inför rapporten som kommer imorgon fredag. Inderes Digital Workforce Q2’24 earnings preview: We expect growth to have... Digital Workforce, the software robotics automation pioneer, will publish its half-year results on Friday morning. We expect the positive revenue and profitability trends seen at the beginning of the year to have continued in the second quarter.
Jesper Hagman
8/22/2024, 8:44 AM💙 2
Här är en ny analys av detta intressanta företag. Good start and prospects for the current year Inderes Good start and prospects for the current year - Inderes Digital Workforce's Q1 was better than expected, and the company's early year orders and comments boost confidence for the rest of the year. So, the turnaround seems to be progressing well, although it is still in its early stages. We expect growth... Digital Workforce’s Q1 was better than expected, and the company’s early year orders and comments boost confidence for the rest of the year. So, the turnaround seems to be progressing well, although it is still in its early stages. We expect growth to pick up slightly in the coming years, but to remain below target and historical levels. We also expect growth to scale well into profitability. Our outlook for the stock’s valuation profile (2024e EV/S 0.9x, SOTP EUR 4.2) and slightly lower risk profile remain positive.
börsen84
5/6/2024, 4:05 PM💙 1
Här är det bästa sättet att lära känna detta företag som en investering, nämligen genom en utmärkt analytikers högkvalitativa, lättlästa och omfattande 60-sidiga analys av företaget. Inderes Digital Workforce: Strategy refined around strengths - Inderes Digital Workforce automates customers' knowledge work processes by utilizing software robotics. In recent years, the focus of the strategy has been on selected industries, in selected growth markets, and on a new platform, which is natural. Focusing... Digital Workforce automates customers’ knowledge work processes by utilizing software robotics. In recent years, the focus of the strategy has been on selected industries, in selected growth markets, and on a new platform, which is natural. Focusing on competitive advantages makes earnings growth more credible, but still requires evidence of a stronger breakthrough. In the short term, our forecasts reflect the shift in the company’s focus from growth to profitability. The stock’s valuation picture has become attractive with the price drop.
börsen84
4/11/2024, 6:44 PM💙 1
Här är en gratis och högkvalitativ analys av ett intressant företag. Analysen är gjord i slutet av november. Inderes Digital Workforce: Slight profit warning raised uncertainty for next year -... Digital Workforce’s profit warning on Friday for 2023 was quite light. At the same time, the growth and profitability outlook for 2024 weakened. We believe new customer acquisition and project starts have progressed slower than expected, which... Digital Workforce’s profit warning on Friday for 2023 was quite light. At the same time, the growth and profitability outlook for 2024 weakened. We believe new customer acquisition and project starts have progressed slower than expected, which depressed development. We now expect more moderate growth in the coming years than before but expect profitability to improve driven by revenue structure and more prudent investments. With our lowered estimates, the valuation (2023e EV/S 0.9x, sum of the parts EUR 4.5 and DCF EUR 6.0) is still attractive.
börsen84
12/26/2023, 5:54 PM💙 1
Här ännu en direktlänk till artikeln på samma ämne. Inderes — Connecting Investors and Companies IT service sector: Fast deceleration in figures in Q2 in Finland, better in... Uncertainty in customer demand was realized more widely in Q2, but development was even more mixed than before. Companies with a high weight of tailored software development and the private sector suffered more in relative terms. Reported figures... Bra sammanfattning över sektorn av @joni.gronqvist och @Frans-Mikael_Rostedt !
Isa Hudd
9/6/2023, 1:36 PM💙 1
Här en överblick över sektorn + specifika kommentarer på Digital Workforce av @joni.gronqvist !
Isa Hudd
9/6/2023, 1:31 PM💙 1

Income statement

20202021202220232024e2025e2026e2027e
Revenue19.122.425.524.927.431.035.540.5
growth-%11.3 %17.1 %13.9 %-2.2 %9.8 %13.3 %14.5 %14.1 %
EBITDA-0.4-1.0-1.7-0.61.02.44.35.3
EBIT (adj.)-0.6-0.8-1.3-0.00.82.24.04.9
EBIT-0.6-1.2-2.6-0.80.62.13.94.9
Profit before taxes-0.8-3.5-3.0-0.70.82.44.05.1
Net income-0.9-3.6-3.0-0.70.72.03.44.3
EPS (adj.)-1.82-0.25-0.150.010.080.190.320.38
growth-%872.0 %146.8 %65.8 %19.2 %
Dividend0.000.000.000.000.000.000.000.19
Dividend ratio50.0 %

Profitability and return on capital

20202021202220232024e2025e2026e2027e
EBITDA-%-2.1 %-4.3 %-6.7 %-2.6 %3.7 %7.9 %12.0 %13.2 %
EBIT-% (adj.)-3.1 %-3.8 %-5.0 %-0.2 %3.1 %7.2 %11.4 %12.1 %
EBIT-%-3.1 %-5.5 %-10.2 %-3.4 %2.3 %6.6 %10.9 %12.1 %
ROE454.8 %-40.5 %-17.8 %-4.6 %4.7 %12.2 %17.7 %18.5 %
ROI-33.9 %-11.5 %-13.8 %-5.0 %5.7 %13.7 %20.6 %22.3 %

Valuation

20202021202220232024e2025e2026e2027e
Share price (EUR)6.583.943.023.683.683.683.68
Shares0.511.011.211.311.111.111.111.1
Market cap72.544.134.041.041.041.041.0
Enterprise value54.228.421.726.524.320.716.2
EV/S-2.41.10.91.00.80.60.4
EV/EBITDA----26.410.04.83.0
EV/EBIT (adj.)----31.210.95.13.3
EV/EBIT----41.711.95.43.3
P/E (adj.)---375.047.019.011.59.6
P/E----57.420.412.19.6
P/B-4.02.92.32.72.32.01.6
P/S-3.21.71.41.51.31.21.0
Dividend yield5.2 %
Equity ratio-6.5 %69.0 %55.4 %70.8 %63.4 %63.6 %67.0 %68.1 %
Gearing ratio156.2 %-100.0 %-101.2 %-83.1 %-93.7 %-95.5 %-97.4 %-98.8 %

Quarter data

Q4/232023Q1/24Q2/24Q3/24Q4/24e2024eQ1/25eQ2/25e
Revenue6.424.96.77.06.67.227.4
EBITDA-0.8-0.60.30.20.20.31.0
EBIT-0.9-0.80.20.10.10.20.6
Profit before taxes-0.9-0.70.20.10.20.30.8
Net income-0.9-0.70.20.10.20.20.7
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Research by
Joni Grönqvist

Digital Workforce Q3'24: On a good growth track

Digital Workforce's Q3 was positive overall. Revenue grew well in line with our expectations but did not quite scale to profitability as expected as the company stepped up its investments. Growth was particularly good in the strategically important Continuous Services. The company also commented that sales were good in Q3 and the sales pipeline remains good, giving confidence for continued growth. We expect the company to grow well ahead of the IT services market in the coming years and to scale this growth to profitability. Relative to the company's earnings growth prospects, the valuation picture (2025e EV/EBIT 12x and SOTP EUR 4.6, DCF EUR 5.7) supports a positive view on the stock.

Digital Workforce

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IT service sector: Market performance in Denmark and Norway better than in Finland and Sweden
Analyst Comment by
Frans-Mikael Rostedt, Joni Grönqvist

IT service sector: Market performance in Denmark and Norway better than in Finland and Sweden

In the rest of the Nordic countries, organic revenue development turned upwards and profitability was at a reasonably good level in Q2.

DigiaDigital WorkforceGoforeInnofactorLoihdeNetum GroupSiili SolutionsSolteqTietoevryVincitWitted MegacorpAvensiaBouvetB3 Consulting GroupColumbusCombinedXKnowitNetcompany GroupNNITProact IT GroupWebstep
IT services sector 2024 expectations fell slightly in Q2, but H2 looks a little better
Analyst Comment by
Joni Grönqvist, Frans-Mikael Rostedt

IT services sector 2024 expectations fell slightly in Q2, but H2 looks a little better

With the Q2 reports and subsequent earnings warnings, our revenue and profitability expectations have declined slightly. The expected strengthening of the general economic development in Finland and Europe and the interest rate cuts provide some light at the end of the tunnel and create the conditions for a gradually improving demand outlook also for the IT services sector next year.

DigiaDigital WorkforceGoforeInnofactorLoihdeNetum GroupSiili SolutionsSolteqTietoevryVincitWitted Megacorp
Research by
Joni Grönqvist

Digital Workforce Q2'24: Improved growth prospects

Digital Workforce performed better than expected in Q2, with a significant acceleration in growth driven by strategically important Continuous Services. In addition, comments on sales and growth for the rest of the year were cautiously positive. At the same time, however, the company has invested more than expected in growth, and we believe the near-term outlook remains a cautious balancing act between scaling growth and investments.

Digital Workforce