Merus Power
3.92
EUR
-3.21 %
MERUS
First North Finland
Electrical Equipment
Industrials
2,126 following
-3.21%
-2.49%
-6.67%
-16.6%
-9.47%
-2.97%
-6.44%
-52.48%
-
-42.7%
sijoittajat.meruspower.fi
Merus Power is active in the industrial sector. The company specializes in electrical engineering where the company designs technology for energy efficiency and operational and environmental performance. The company delivers dynamic compensation solutions, power electronics, software technology, and services in electrical engineering. The customer base consists of customers in the industry, power production, and renewable energy sector. The company operates on a global level with headquarters in Nokia.
Read moreP/E (adj.) (24e)
-10.93
EV/EBIT (adj.) (24e)
-15.77
P/B (24e)
3.2
Dividend yield-% (24e)
-
Target price
4.00 EUR
Recommendation
Reduce
Updated
22.8.2024
First North Finland
MERUS
Daily low / high price
3.91 / 3.92
EUR
Market cap
30.08M EUR
Turnover
90.05 EUR
Volume
23
Business risk
Valuation risk
Current
Previous
Analyst
Pauli Lohi
Analyst
Financial calendar
Annual report
2025-02-06
General meeting
2025-03-17
Interim report
2025-08-21
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6.5 | 14.8 | 16.2 | 29.0 | 30.2 | 39.2 | 50.2 | 57.8 |
| growth-% | -36.9 % | 127.2 % | 9.7 % | 79.2 % | 4.0 % | 30.0 % | 28.0 % | 15.0 % |
| EBITDA | 0.0 | 0.8 | 0.6 | 0.2 | -1.0 | 1.4 | 3.6 | 4.5 |
| EBIT (adj.) | -0.4 | 0.3 | 0.1 | -0.5 | -2.2 | -0.0 | 2.0 | 2.6 |
| EBIT | -0.4 | 0.3 | 0.1 | -0.5 | -2.2 | -0.0 | 2.0 | 2.6 |
| Profit before taxes | -0.5 | -1.0 | -0.1 | -0.8 | -2.7 | -0.5 | 1.5 | 2.2 |
| Net income | -0.5 | -1.0 | -0.1 | -0.8 | -2.7 | -0.5 | 1.5 | 2.2 |
| EPS (adj.) | -0.09 | -0.15 | -0.01 | -0.10 | -0.36 | -0.07 | 0.20 | 0.29 |
| growth-% | -404.0 % | 48.1 % | ||||||
| Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend ratio |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 0.6 % | 5.6 % | 3.6 % | 0.6 % | -3.1 % | 3.6 % | 7.3 % | 7.7 % |
| EBIT-% (adj.) | -5.5 % | 2.3 % | 0.7 % | -1.8 % | -7.3 % | -0.0 % | 4.0 % | 4.5 % |
| EBIT-% | -5.5 % | 2.3 % | 0.7 % | -1.8 % | -7.3 % | -0.0 % | 4.0 % | 4.5 % |
| ROE | -23.3 % | -12.9 % | -0.8 % | -6.4 % | -25.6 % | -5.5 % | 15.7 % | 19.4 % |
| ROI | -7.4 % | 3.1 % | 0.6 % | -3.1 % | -13.4 % | -0.0 % | 9.3 % | 11.0 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 7.70 | 4.77 | 3.82 | 3.92 | 3.92 | 3.92 | 3.92 | |
| Shares | 5.4 | 7.6 | 7.6 | 7.6 | 7.6 | 7.6 | 7.6 | 7.6 |
| Market cap | 58.9 | 36.5 | 29.2 | 30.0 | 30.0 | 30.0 | 30.0 | |
| Enterprise value | 51.7 | 35.0 | 30.6 | 34.6 | 37.9 | 38.6 | 37.5 | |
| EV/S | - | 3.5 | 2.2 | 1.1 | 1.1 | 1.0 | 0.8 | 0.6 |
| EV/EBITDA | - | 62.4 | 59.3 | 164.5 | - | 26.6 | 10.6 | 8.4 |
| EV/EBIT (adj.) | - | 155.2 | 330.4 | - | - | - | 19.3 | 14.3 |
| EV/EBIT | - | 155.2 | 330.4 | - | - | - | 19.3 | 14.3 |
| P/E (adj.) | - | - | - | - | - | - | 19.9 | 13.5 |
| P/E | - | - | - | - | - | - | 19.9 | 13.5 |
| P/B | - | 4.5 | 2.8 | 2.4 | 3.2 | 3.4 | 2.9 | 2.4 |
| P/S | - | 4.0 | 2.3 | 1.0 | 1.0 | 0.8 | 0.6 | 0.5 |
| Dividend yield | ||||||||
| Equity ratio | 32.3 % | 64.0 % | 52.5 % | 57.1 % | 43.5 % | 34.0 % | 34.2 % | 38.7 % |
| Gearing ratio | 105.1 % | -55.2 % | -11.2 % | 11.6 % | 49.0 % | 89.5 % | 83.2 % | 60.3 % |
Quarter data
| Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24e | Q4/24e | 2024e | Q1/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 15.5 | 29.0 | 6.7 | 23.5 | 30.2 | ||||
| EBITDA | 0.6 | 0.2 | -3.4 | 2.5 | -1.0 | ||||
| EBIT | 0.2 | -0.5 | -4.0 | 1.8 | -2.2 | ||||
| Profit before taxes | 0.0 | -0.8 | -4.3 | 1.6 | -2.7 | ||||
| Net income | 0.0 | -0.8 | -4.3 | 1.6 | -2.7 |
ShowingAll content types
Merus Power Oyj: Insider information, negative profit warning: Merus Power lowers its guidance on EBITDA
Merus Power Oyj: Merus Power delivers two compensators to support rail traffic in Estonia
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