eQ

12.85 EUR

-0.77 %

EQV1V

NASDAQ Helsinki

Financial Services

Financials

7,535 following

-0.77%

-1.15%

-6.2%

-14.62%

-17.52%

-13.18%

-53.86%

+2.39%

+576.32%

www.eq.fi

eQ operates in the financial industry. The company acts as a stockbroker and has a wide range of financial services in corporate finance and asset management. Financial services include a range of structured products, insurance, private-equity funds, and other investment options. Investments are found worldwide around the financial market and in a number of sectors. The company is headquartered in Helsinki.

P/E (adj.) (24e)

18.2

EV/EBIT (adj.) (24e)

13.68

P/B (24e)

7.37

Dividend yield-% (24e)

5.73 %

Target price

14.00 EUR

Recommendation

Reduce

Updated

23.10.2024

NASDAQ Helsinki

EQV1V

Daily low / high price

12.7 / 12.9 EUR

Market cap

532.08M EUR

Turnover

53.05K EUR

Volume

4.2K

Business risk

Valuation risk

Current

Latest research

eQ: Quality simply costs too much

2021-04-28

Analyst

Kasper Mellas

Analyst

Financial calendar

Annual report

2025-02-04

General meeting

2025-03-25

Interim report

2025-04-29

Interim report

2025-08-05

Interim report

2025-10-21

Income statement

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
Revenue	56.7	78.9	77.8	70.9	68.4	78.3	87.6	92.2
growth-%	11.9 %	39.3 %	-1.4 %	-8.9 %	-3.5 %	14.5 %	11.9 %	5.3 %
EBITDA	31.9	48.7	46.9	41.0	37.9	45.9	52.4	55.5
EBIT (adj.)	30.8	47.7	45.7	39.8	36.7	44.7	51.1	54.2
EBIT	30.8	47.7	45.7	39.8	36.7	44.7	51.1	54.2
Profit before taxes	30.8	47.7	45.7	39.8	36.7	44.7	51.1	54.2
Net income	24.6	38.1	36.3	31.6	29.1	35.6	40.8	43.2
EPS (adj.)	0.63	0.97	0.91	0.77	0.71	0.85	0.97	1.02
growth-%	15.4 %	53.3 %	-6.3 %	-14.9 %	-8.9 %	21.1 %	13.7 %	5.2 %
Dividend	0.70	1.00	1.00	0.80	0.74	0.88	1.00	1.02
Dividend ratio	110.5 %	104.1 %	110.5 %	103.2 %	104.3 %	103.5 %	103.1 %	100.0 %

Profitability and return on capital

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
EBITDA-%	56.2 %	61.7 %	60.3 %	57.9 %	55.5 %	58.7 %	59.9 %	60.2 %
EBIT-% (adj.)	54.3 %	60.4 %	58.8 %	56.1 %	53.6 %	57.1 %	58.4 %	58.8 %
EBIT-%	54.3 %	60.4 %	58.8 %	56.1 %	53.6 %	57.1 %	58.4 %	58.8 %
ROE	37.1 %	51.6 %	44.9 %	40.2 %	39.5 %	47.7 %	51.5 %	52.9 %
ROI	46.4 %	64.6 %	56.6 %	50.6 %	47.9 %	57.7 %	64.6 %	66.3 %

Valuation

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
Share price (EUR)	16.75	25.75	25.45	15.58	12.85	12.85	12.85	12.85
Shares	38.9	39.6	40.1	40.7	41.2	41.6	41.9	42.2
Market cap	651.1	1,020.5	1,021.4	634.8	530.0	535.1	539.0	542.9
Enterprise value	614.7	964.4	977.6	601.4	501.6	493.8	490.4	492.9
EV/S	10.9	12.2	12.6	8.5	7.3	6.3	5.6	5.3
EV/EBITDA	19.3	19.8	20.8	14.6	13.2	10.8	9.4	8.9
EV/EBIT (adj.)	20.0	20.2	21.4	15.1	13.7	11.1	9.6	9.1
EV/EBIT	20.0	20.2	21.4	15.1	13.7	11.1	9.6	9.1
P/E (adj.)	26.4	26.5	28.0	20.1	18.2	15.0	13.2	12.6
P/E	26.4	26.5	28.0	20.1	18.2	15.0	13.2	12.6
P/B	9.6	12.8	12.5	8.4	7.4	6.9	6.6	6.6
P/S	11.5	12.9	13.1	9.0	7.8	6.8	6.2	5.9
Dividend yield	4.2 %	3.9 %	3.9 %	5.1 %	5.7 %	6.9 %	7.8 %	8.0 %
Equity ratio	73.8 %	72.2 %	73.8 %	75.2 %	70.7 %	74.2 %	73.3 %	72.8 %
Gearing ratio	-53.8 %	-70.1 %	-53.6 %	-44.4 %	-39.5 %	-53.6 %	-59.9 %	-60.7 %

Quarter data

	Q4/23	2023	Q1/24	Q2/24	Q3/24	Q4/24e	2024e
Revenue	18.6	70.9	16.5	17.7	16.7	17.5	68.4
EBITDA	10.1	41.0	9.1	9.6	9.9	9.4	37.9
EBIT	9.8	39.8	8.8	9.3	9.6	9.0	36.7
Profit before taxes	9.8	39.8	8.8	9.3	9.6	9.0	36.7
Net income	7.8	31.6	7.0	7.4	7.6	7.2	29.1