Incap: Share price already attractive if the problems are temporary
Following the company's Q1 report, we made only very minor changes to our near-term earnings estimates. In the short term, there are few positive drivers for the stock, as the inventory adjustment related to the largest customer will push growth and earnings growth into a clear downward spiral, at least for the rest of the year.
Incap
10.36
12
Accumulate
Accumulate
Incap operates in the industrial sector. The company supplies equipment and associated services for industrial companies, where the range includes PCB assembly, system integrations, box building integration, design validation, and inspection methods. The largest operations are in the Nordic countries, the Baltics, and Asia. The company was originally established in 1985 and is headquartered in Helsinki.
Read more on company pageKey Estimate Figures2023-04-26
| 2022 | 23e | 24e | |
|---|---|---|---|
| Revenue | 263.8 | 236.7 | 265.2 |
| growth-% | 55.36 % | -10.28 % | 12.05 % |
| EBIT (adj.) | 40.0 | 31.1 | 38.3 |
| EBIT-% (adj.) | 15.16 % | 13.14 % | 14.45 % |
| EPS (adj.) | 0.98 | 0.79 | 0.99 |
| Dividend | 0.00 | 0.15 | 0.20 |
| Dividend % | 1.47 % | 1.96 % | |
| P/E (adj.) | 17.53 | 12.98 | 10.28 |
| EV/EBITDA | 12.01 | 7.74 | 5.92 |
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