Incap

9,95EUR -0,5 %
5.487 investorer følger denne virksomhed

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.

P/E (23e)
12,67
EV/EBIT (23e)
8,67
P/B (23e)
2,64
Udbytteafkast, % (23e)
1,51 %
Kursmål
12.00 EUR
Anbefaling
Akkumulér
Opdateret
26.4.2023
NASDAQ Helsinki
ICP1V
Daglig lav / høj pris
9,91 / 10,08 EUR
Markedsværdi
291,38 mio. EUR
Aktieomsætning
472,87 t EUR
Volumen
47 t
Risiko og anbefaling
HøjRisikoLav
SælgAnbefalingKøb

Resultatopgørelse

20192020202120222023e2024e2025e2026e
Omsætning71,02106,49169,79263,79236,67265,19291,71315,05
vækst-%20,46 %49,95 %59,43 %55,36 %-10,28 %12,05 %10,00 %8,00 %
EBITDA11,4715,9229,2642,8035,3642,8647,3153,36
EBIT (adj.)10,0914,6526,7740,0031,1038,3242,8548,92
EBIT10,0912,5925,9739,0030,7738,0242,5548,62
Overskud før skat9,6611,5125,7236,6829,8238,0542,8749,25
Netto indkomst6,279,2521,0627,6122,7128,9132,5837,43
EPS (adj.)0,290,370,740,980,790,991,121,29
vækst-%7,32 %30,50 %97,95 %31,49 %-19,48 %26,26 %13,14 %14,67 %
Udbytte0,000,000,000,000,150,200,250,30
Udbytte ratio19,32 %20,24 %22,45 %23,45 %

Profitability and return on capital

20192020202120222023e2024e2025e2026e
EBITDA-%16,15 %14,95 %17,23 %16,23 %14,94 %16,16 %16,22 %16,94 %
EBIT-% (adj.)14,20 %13,76 %15,77 %15,16 %13,14 %14,45 %14,69 %15,53 %
EBIT-%14,20 %11,83 %15,30 %14,78 %13,00 %14,34 %14,59 %15,43 %
ROE33,34 %30,62 %41,53 %36,74 %22,99 %23,62 %22,01 %21,21 %
ROI40,52 %32,98 %42,42 %42,69 %26,53 %28,41 %26,89 %26,23 %

Værdiansættelse

20192020202120222023e2024e2025e2026e
Share price (EUR)2,903,6915,7017,109,959,959,959,95
Aktier21,8529,1029,2529,2529,2529,2529,2529,25
Markedsværdi63,26107,38459,17500,26291,09291,09291,09291,09
Enterprise value62,78113,27461,20513,86266,71246,88227,60204,44
EV/S0,881,062,721,951,130,930,780,65
EV/EBITDA5,477,1115,7612,017,545,764,813,83
EV/EBIT (adj.)6,227,7317,2312,858,586,445,314,18
EV/EBIT6,228,9917,7613,188,676,495,354,20
P/E (adj.)10,089,8521,1717,5312,6710,038,877,73
P/E10,0811,6121,8018,1212,8210,078,937,78
P/B2,892,797,305,722,642,161,801,52
P/S0,891,012,701,901,231,101,000,92
Udbytteprocent1,51 %2,01 %2,51 %3,02 %
Equity ratio59,99 %50,44 %51,93 %51,93 %59,09 %61,76 %64,20 %67,39 %
Gearing ratio-2,18 %15,29 %3,23 %15,56 %-22,14 %-32,83 %-39,34 %-45,25 %

Kvartalsdata

Q2/22Q3/22Q4/222022Q1/23Q2/23eQ3/23eQ4/23e2023e
Omsætning61,2370,5778,69263,7972,6757,0052,0055,00236,67
EBITDA9,5211,9413,6742,8012,397,037,438,5335,36
EBIT8,6510,9412,6739,0011,305,936,237,3330,77
Overskud før skat7,869,9312,1536,6810,945,636,037,2329,82
Netto indkomst5,787,668,7227,618,374,284,585,4922,71
Publisher
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.

Analyse27.04.2023 af Antti Viljakainen
Publisher
Incap Q1'23: Is Pukk sleeping well?

Incap’s Q1 was solid, but focus lies on the profit warning issued in April. The biggest customer is applying the brakes and wants to lower its inventories. Is this a structural problem or a temporary setback? What will happen with profitability, the released capacity and the new factory in India? What does the future guidance look like and how is CEO Otto Pukk sleeping?

Video26.04.2023 af Isa Hudd
Publisher
Incap: The market verdict seems slightly exaggerated

Yesterday, Incap issued a profit warning for the current year after the company's largest customer decided to lower its inventory levels due to the normalization of the component situation and a slowing growth outlook. In the short term, there are few positive drivers for the stock, but we don’t see the problems associated with the largest client as structural.

Analyse19.04.2023 af Antti Viljakainen
Publisher
Incap: Good outlook with risks priced in a balanced manner

We made only minor changes to our earnings estimates following the company's Q4 report. In our view, the Incap share is still not unreasonably expensive given the overall positive outlook for the company.

Analyse23.02.2023 af Antti Viljakainen