United Bankers
17.4
EUR
-0.85 %
UNITED
NASDAQ Helsinki
Banks
Financials
4,372 following
www.unitedbankers.fi/fi/oyj/konserni
United Bankers operates in the financial industry. The bank offers a wide range of financial services in asset and fund management, as well as structured investment and corporate loans. The advice covers a large part of the major financial markets on a global level and includes both listed and unlisted companies, as well as a selection of listed funds and derivatives. The bank was founded in 1986 and is headquartered in Helsinki.
P/E (adj.) (24e)
11.78
EV/EBIT (adj.) (24e)
7.87
P/B (24e)
3.34
Dividend yield-% (24e)
6.32 %
Target price
19.00 EUR
Recommendation
Reduce
Updated
26.8.2024
NASDAQ Helsinki
UNITED
Daily low / high price
17.4 / 19.05
EUR
Market cap
190.76M EUR
Turnover
45.65K EUR
Volume
2.6K
Business risk
Valuation risk
Current
Previous
Latest research
Extensive report
Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the reportAnalyst
Kasper Mellas
Analyst
Latest videos
Financial calendar
Annual report
2025-02-13
General meeting
2025-03-21
Interim report
2025-08-21
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 34.4 | 43.8 | 48.6 | 52.1 | 59.5 | 60.1 | 61.9 | 67.0 |
| growth-% | 5.7 % | 27.5 % | 10.9 % | 7.5 % | 14.1 % | 0.9 % | 3.1 % | 8.2 % |
| EBITDA | 10.1 | 15.9 | 18.4 | 19.2 | 23.9 | 22.1 | 21.9 | 24.5 |
| EBIT (adj.) | 8.6 | 14.4 | 16.5 | 16.9 | 21.5 | 19.5 | 19.2 | 21.7 |
| EBIT | 8.4 | 14.3 | 16.5 | 17.0 | 21.5 | 19.5 | 19.2 | 21.7 |
| Profit before taxes | 8.4 | 14.3 | 16.5 | 17.0 | 21.5 | 19.5 | 19.2 | 21.7 |
| Net income | 6.2 | 10.3 | 12.5 | 13.3 | 16.0 | 14.6 | 14.3 | 16.3 |
| EPS (adj.) | 0.62 | 1.01 | 1.18 | 1.22 | 1.48 | 1.34 | 1.31 | 1.49 |
| growth-% | 23.6 % | 62.2 % | 17.4 % | 3.6 % | 20.6 % | -9.1 % | -2.2 % | 13.2 % |
| Dividend | 0.51 | 0.80 | 0.90 | 1.00 | 1.10 | 1.15 | 1.20 | 1.25 |
| Dividend ratio | 85.4 % | 80.3 % | 76.4 % | 81.1 % | 74.5 % | 85.7 % | 91.4 % | 84.1 % |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 29.3 % | 36.3 % | 37.9 % | 36.8 % | 40.1 % | 36.7 % | 35.3 % | 36.6 % |
| EBIT-% (adj.) | 25.0 % | 33.0 % | 34.0 % | 32.4 % | 36.1 % | 32.5 % | 31.0 % | 32.4 % |
| EBIT-% | 24.3 % | 32.7 % | 34.0 % | 32.6 % | 36.1 % | 32.5 % | 31.0 % | 32.4 % |
| ROE | 16.4 % | 25.1 % | 27.5 % | 26.9 % | 29.7 % | 25.3 % | 23.9 % | 26.1 % |
| ROI | 20.6 % | 32.8 % | 35.0 % | 34.1 % | 39.3 % | 32.9 % | 30.7 % | 33.0 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 10.70 | 13.60 | 14.20 | 14.40 | 17.40 | 17.40 | 17.40 | 17.40 |
| Shares | 10.4 | 10.4 | 10.6 | 10.8 | 10.8 | 10.9 | 10.9 | 11.0 |
| Market cap | 111.7 | 141.2 | 150.9 | 155.1 | 188.3 | 189.2 | 190.1 | 190.9 |
| Enterprise value | 102.4 | 129.0 | 142.2 | 146.6 | 169.0 | 162.2 | 160.9 | 157.9 |
| EV/S | 3.0 | 2.9 | 2.9 | 2.8 | 2.8 | 2.7 | 2.6 | 2.4 |
| EV/EBITDA | 10.2 | 8.1 | 7.7 | 7.6 | 7.1 | 7.4 | 7.4 | 6.4 |
| EV/EBIT (adj.) | 11.9 | 8.9 | 8.6 | 8.7 | 7.9 | 8.3 | 8.4 | 7.3 |
| EV/EBIT | 12.3 | 9.0 | 8.6 | 8.6 | 7.9 | 8.3 | 8.4 | 7.3 |
| P/E (adj.) | 17.3 | 13.5 | 12.0 | 11.8 | 11.8 | 13.0 | 13.3 | 11.7 |
| P/E | 17.9 | 13.7 | 12.0 | 11.7 | 11.8 | 13.0 | 13.3 | 11.7 |
| P/B | 2.9 | 3.2 | 3.2 | 3.0 | 3.3 | 3.2 | 3.1 | 3.0 |
| P/S | 3.3 | 3.2 | 3.1 | 3.0 | 3.2 | 3.2 | 3.1 | 2.8 |
| Dividend yield | 4.8 % | 5.9 % | 6.3 % | 6.9 % | 6.3 % | 6.6 % | 6.9 % | 7.2 % |
| Equity ratio | 66.8 % | 56.7 % | 67.1 % | 67.8 % | 69.4 % | 70.6 % | 71.2 % | 71.9 % |
| Gearing ratio | -24.7 % | -29.5 % | -19.8 % | -18.1 % | -34.9 % | -45.5 % | -47.0 % | -49.9 % |
Quarter data
| Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24e | Q4/24e | 2024e | Q1/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 27.5 | 52.1 | 33.0 | 26.5 | 59.5 | ||||
| EBITDA | 11.2 | 19.2 | 14.7 | 9.1 | 23.9 | ||||
| EBIT | 10.0 | 17.0 | 13.5 | 7.9 | 21.5 | ||||
| Profit before taxes | 10.0 | 17.0 | 13.5 | 7.9 | 21.5 | ||||
| Net income | 7.9 | 13.3 | 10.3 | 5.7 | 16.0 |
ShowingAll content types
UNITED BANKERS PLC: ACQUISITION OF OWN SHARES 12.11.2024
United Bankers Plc: Notification of Manager’s Transactions – Jarafi Oy
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