Titanium
9.68
EUR
+1.47 %
TITAN
First North Finland
Financial Services
Financials
6,508 following
+1.47%
-1.43%
-3.68%
-15.09%
-26.39%
-43.72%
-40.43%
-37.55%
+2.98%
+38.88%
www.titanium.fi/sijoittajille
Titanium is active in the financial industry. The Group currently offers a wide range of financial services mainly in asset management, loan financing, and pensions. The Group also manages a number of investment funds and structured financial products. The company was originally founded in 2009 and is headquartered in Helsinki.
P/E (adj.) (24e)
13.29
EV/EBIT (adj.) (24e)
9.12
P/B (24e)
5.64
Dividend yield-% (24e)
8.37 %
Target price
11.00 EUR
Recommendation
Reduce
Updated
22.8.2024
First North Finland
TITAN
Daily low / high price
9.66 / 9.8
EUR
Market cap
100.39M EUR
Turnover
15.56K EUR
Volume
1.6K
Business risk
Valuation risk
Current
Previous
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 20.2 | 23.5 | 27.9 | 26.2 | 22.6 | 23.5 | 26.5 | 28.7 |
| growth-% | 9.6 % | 16.3 % | 18.8 % | -6.0 % | -14.0 % | 4.0 % | 13.0 % | 8.1 % |
| EBITDA | 12.1 | 14.2 | 17.3 | 14.3 | 10.2 | 10.5 | 12.8 | 13.9 |
| EBIT (adj.) | 11.5 | 13.8 | 16.9 | 13.7 | 9.6 | 9.6 | 11.9 | 13.1 |
| EBIT | 9.8 | 12.0 | 15.1 | 12.6 | 9.6 | 9.6 | 11.9 | 13.1 |
| Profit before taxes | 9.9 | 12.0 | 15.1 | 12.6 | 9.6 | 9.6 | 11.9 | 13.1 |
| Net income | 7.6 | 9.3 | 11.7 | 9.7 | 7.6 | 7.6 | 9.5 | 10.4 |
| EPS (adj.) | 0.91 | 1.08 | 1.30 | 1.05 | 0.73 | 0.73 | 0.90 | 0.98 |
| growth-% | 14.3 % | 19.1 % | 20.4 % | -19.4 % | -30.5 % | 0.2 % | 23.1 % | 9.3 % |
| Dividend | 0.81 | 0.91 | 1.36 | 1.16 | 0.81 | 0.81 | 0.98 | 0.88 |
| Dividend ratio | 109.6 % | 100.1 % | 119.8 % | 124.0 % | 111.2 % | 111.1 % | 109.0 % | 90.0 % |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 59.7 % | 60.4 % | 62.2 % | 54.7 % | 45.3 % | 44.7 % | 48.1 % | 48.6 % |
| EBIT-% (adj.) | 56.9 % | 58.6 % | 60.4 % | 52.3 % | 42.5 % | 41.1 % | 45.0 % | 45.7 % |
| EBIT-% | 48.5 % | 51.2 % | 54.2 % | 47.9 % | 42.5 % | 41.1 % | 45.0 % | 45.7 % |
| ROE | 33.7 % | 40.0 % | 46.4 % | 39.8 % | 37.7 % | 43.7 % | 53.8 % | 57.3 % |
| ROI | 45.1 % | 52.7 % | 61.0 % | 51.5 % | 45.7 % | 48.3 % | 55.3 % | 55.4 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 12.95 | 15.00 | 15.55 | 17.20 | 9.68 | 9.68 | 9.68 | 9.68 |
| Shares | 10.2 | 10.2 | 10.3 | 10.4 | 10.4 | 10.5 | 10.5 | 10.6 |
| Market cap | 132.4 | 153.3 | 160.1 | 178.4 | 100.9 | 101.4 | 101.8 | 102.3 |
| Enterprise value | 118.3 | 136.7 | 139.4 | 160.7 | 87.4 | 88.8 | 88.7 | 89.3 |
| EV/S | 5.9 | 5.8 | 5.0 | 6.1 | 3.9 | 3.8 | 3.3 | 3.1 |
| EV/EBITDA | 9.8 | 9.6 | 8.0 | 11.2 | 8.5 | 8.5 | 6.9 | 6.4 |
| EV/EBIT (adj.) | 10.3 | 9.9 | 8.3 | 11.7 | 9.1 | 9.2 | 7.4 | 6.8 |
| EV/EBIT | 12.1 | 11.4 | 9.2 | 12.8 | 9.1 | 9.2 | 7.4 | 6.8 |
| P/E (adj.) | 14.3 | 13.9 | 12.0 | 16.4 | 13.3 | 13.3 | 10.8 | 9.9 |
| P/E | 17.5 | 16.5 | 13.7 | 18.4 | 13.3 | 13.3 | 10.8 | 9.9 |
| P/B | 5.8 | 6.4 | 6.1 | 8.0 | 5.6 | 5.9 | 5.6 | 5.6 |
| P/S | 6.6 | 6.5 | 5.7 | 6.8 | 4.5 | 4.3 | 3.8 | 3.6 |
| Dividend yield | 6.3 % | 6.1 % | 8.7 % | 6.7 % | 8.4 % | 8.4 % | 10.1 % | 9.1 % |
| Equity ratio | 88.0 % | 82.3 % | 83.7 % | 81.5 % | 72.5 % | 67.2 % | 64.8 % | 61.4 % |
| Gearing ratio | -62.0 % | -69.7 % | -78.2 % | -79.3 % | -75.5 % | -73.5 % | -73.0 % | -71.7 % |
Quarter data
| Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24e | Q4/24e | 2024e | Q1/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 12.6 | 26.2 | 11.5 | 11.0 | 22.6 | ||||
| EBITDA | 6.4 | 14.3 | 5.7 | 4.6 | 10.2 | ||||
| EBIT | 5.8 | 12.6 | 5.3 | 4.3 | 9.6 | ||||
| Profit before taxes | 5.8 | 12.6 | 5.3 | 4.3 | 9.6 | ||||
| Net income | 4.5 | 9.7 | 4.2 | 3.4 | 7.6 |
ShowingAll content types
Titanium: Potential weighs more than the risks
Titanium: Everything set for accelerated earnings growth
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