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CapMan

1.75 EUR-2.99 %6.8, 17.29
13,144 following

CAPMAN

NASDAQ Helsinki

Investment

Financials

Overview
Financials & Estimates
Dividend
Compare
-2.99 %
-0.45 %
+3.18 %
-7.30 %
-8.94 %
-11.07 %
-30.06 %
-42.37 %
-20.36 %

CapMan is an investment company. The vision is to be a long-term owner and create added value for the shareholders in the long term. CapMan mainly invests in medium-sized unlisted companies, properties and infrastructure facilities around the Nordic market. Furthermore, the company offers asset management, purchasing activities as well as analysis, reporting and back office services. CapMan was founded in 1989 and its headquarters are in Helsinki, Finland.

Read more
Market cap
310.46M EUR
Turnover
751.34K EUR
P/E (adj.) (26e)
15.37
EV/EBIT (adj.) (26e)
10.44
P/B (26e)
1.68
EV/S (26e)
4.37
Dividend yield-% (26e)
7.42 %
Coverage
Recommendation
Buy
Target price
2.10 EUR
Updated
06.08.2026
Disclaimer
Sauli Vilén
Sauli Vilén

Analyst

Latest research

Latest analysis report

Released: 06.08.2026

Latest extensive report

Released: 29.05.2026

Revenue and EBIT-%
EPS and dividend
Financial calendar
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Business risk
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Forum discussions
Tomorrow, for the first time in a while, there’s a suuuper interesting report coming from CapMan! Sales have been picking up well in Q2, and that super-fast first closing for Infra, in particular, is excellent news. Getting the real estate fund off the ground is also critical. As...
yesterday
by Sauli Vilen
36
When you own Capman, the feeling year after year is this: Today’s interim report wasn’t exactly miserable, but it doesn’t provide much comfort when you’re just getting “defensive victories” year after year. Things are moving in the right direction, so to speak, but very slowly. And...
12 hours ago
by Ummon
21
Here is Pia’s interview. 00:00 Q2 01:05 Profitability 03:05 Infrastructure 04:03 Nordic Real Estate 06:25 Caeros 08:02 Headcount 10:28 Carried interest income
11 hours ago
by Verneri Pulkkinen
12
In the long run, this is probably true. But unfortunately, it still looks like costs are increasing and the value created is trickling down to the management and other key personnel operating within it.
15 hours ago
by lokomotiivi
9
”The risk to earnings growth in the coming years has clearly diminished” Typo
3 hours ago
by Loue
5
So, the cost trend was precisely the positive surprise this quarter. Personnel costs and headcount are clearly on the decline.
14 hours ago
by Caravellix
5
Sauli’s updated comments. Why do I get the feeling that this is in the same vein as Rapala? Good on paper, and that’s about it. Inderes CapMan Q2'26: Kriittinen askel tulosparannuksen polulla - Inderes CapManin Q2-numerot olivat vaisut, mutta reippaasti edennyt varainkeruu oli kriittinen...
3 hours ago
by M
4
Read more on our forum
Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
6.8
2026

Interim report Q2'26

5.11
2026

Interim report Q3'26

11.2
2027

Annual report '26

CapMan Q2'26: Et kritisk skridt på vejen mod resultatforbedring
Research06.08.2026, 19.22 by
Sauli Vilén

CapMan Q2'26: Et kritisk skridt på vejen mod resultatforbedring

CapMans regnskabsmeddelelse for 2. kvartal var svag, men den hurtige kapitalrejsning var afgørende for at forbedre indtjeningen i de kommende år. Hvis resultatforbedringen realiseres som estimeret, er aktien billig.

CapMan
Third party research06.08.2026, 08.43

CapMan: Q2 fee income and profit softer than expected - Nordea

CapMan’s Q2 fee income of EUR 15.2m grew 9% y/y but was 14% below our estimate of EUR 17.7m. Fee profit of EUR 1.3m grew by 5% y/y, but came clearly below our estimate of EUR 3.2m, while the fee profit margin (8.8%) declined by 40 bp y/y. Driven by lower...

CapMan
CapMan, Webcast, Q2'26
Webcast06.08.2026, 08.30

CapMan, Webcast, Q2'26

CapMan

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CapMan Q2'26 flash comment: Not as bad as the weak numbers would suggest
Analyst Comment06.08.2026, 10.30 by
Sauli Vilén

CapMan Q2'26 flash comment: Not as bad as the weak numbers would suggest

The company's numbers were clearly below our expectations due to lower-than-expected revenue and weak investment income.

CapMan
Regulatory press release06.08.2026, 08.00

CapMan Oyj: CapMan Plc's financial reporting and Annual General Meeting in 2027

CapMan
Regulatory press release06.08.2026, 07.00

CapMan Plc 1-6 2026 Half-Year Report: Record capital intake and first closes in flagship funds

CapMan
CapMan Q2'26 preview: Critical successes in fundraising
Analyst Comment05.08.2026, 09.30 by
Sauli Vilén

CapMan Q2'26 preview: Critical successes in fundraising

We expect strong earnings improvement from the company, driven by previous new sales and good investment income.

CapMan
Press release30.07.2026, 08.00

CapMan Oyj: CapMan to publish its 1-6 2026 Half-Year Report on Thursday 6 August 2026

CapMan
Third party research14.07.2026, 08.27

Capman: Moving in the right direction - Nordea

Ahead of CapMan's Q2 2026 results on 8 August, we make slight revisions to our estimates, mainly to reflect the fist closes in two flagship funds. Supported by two new funds, we expect AuM to grow to EUR ~7.7bn (Q1: EUR 7.2bn). We model fee income of...

CapMan
Strong start of CapMan's infrastructure fund lowers fundraising risk profile
Analyst Comment26.06.2026, 07.47 by
Kasper Mellas

Strong start of CapMan's infrastructure fund lowers fundraising risk profile

The progress in fundraising provides strong support for our growth expectations for 2026–2027.

CapMan
Press release25.06.2026, 13.00

CapMan Oyj: CapMan Real Estate completes Scandinavia's largest integrated solar roof at Stationsparken, Glostrup

CapMan
CapMan completes first close of new real estate fund
Analyst Comment22.06.2026, 07.41 by
Sauli Vilén

CapMan completes first close of new real estate fund

Concrete progress in fundraising is an important step in this year's fundraising effort.

CapMan
Regulatory press release15.06.2026, 10.00

CapMan Oyj: CapMan Infra invests in Hansabuss to support the development of public transportation in the Baltics

CapMan
Regulatory press release12.06.2026, 07.00

CapMan Oyj: Composition of CapMan's Shareholders' Nomination Board

CapMan
Analyst Comment04.06.2026, 12.14 by
Sauli Vilén

Update on consolidation prospects in the asset management sector

Consolidation in the Finnish asset management sector has continued in recent years, and we expect this trend to persist.

TaaleriAlexandria GroupAktia PankkiTitaniumUnited BankerseQEvliCapManMandatum
CapMan extensive report: Scale-up time
Extensive research29.05.2026, 07.36 by
Sauli Vilén

CapMan extensive report: Scale-up time

CapMan is currently in the midst of the largest fundraising cycle in its history, and the success of this effort will largely determine the stock’s trajectory in the coming years. If the fundraising is successful, the share valuation is favorable.

CapMan
Third party research07.05.2026, 07.08

CapMan: Strong growth with improved clarity - Nordea

CapMan's Q1 top-line figures and profitability both came in above our expectations. Adjusted EBIT was EUR 6.1m (our estimate: EUR 4.8m) and revenues reached EUR 16.3m (our estimate: EUR 15.9m). Relative to our estimates, the profitability beat was mainly...

CapMan
CapMan Q1'26: Eyes still firmly on fundraising
Research07.05.2026, 08.56 by
Sauli Vilén

CapMan Q1'26: Eyes still firmly on fundraising

CapMan's Q1 went well, and the fundraising efforts, critical for the strategy, seem to be moving in the right direction.

CapMan
CapMan, Webcast, Q1'26
Webcast06.05.2026, 08.30

CapMan, Webcast, Q1'26

CapMan
Third party research06.05.2026, 08.17

CapMan: Fee income and profit acceleration - Nordea

CapMan’s Q1 fee income of EUR 15.9m grew 22% y/y and was 7% ahead of our estimate of EUR 14.9m. Fee profit of EUR 2.2m grew clearly and was up by 48% y/y, although still slightly below our estimate of EUR 2.8m. Driven by higher-than-expected positive...

CapMan