CapMan

1.93 EUR

-0.62 %

13,123 following

CAPMAN

NASDAQ Helsinki

Investment

Financials

Overview

Financials & Estimates

-0.62 %

+0.21 %

-0.10 %

+5.01 %

-1.13 %

+10.42 %

-31.75 %

-20.33 %

-12.36 %

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.

Market cap

341.02M EUR

Turnover

228.91K EUR

P/E (adj.) (25e)

18.17

EV/EBIT (adj.) (25e)

12.31

P/B (25e)

1.79

EV/S (25e)

5.76

Dividend yield-% (25e)

7.78 %

Coverage

Recommendation

Accumulate

Target price

2.10 EUR

Updated

06.11.2025

Sauli Vilén

Analyst

Latest research

Latest analysis report

Released: 07.11.2025

Latest extensive report

Released: 21.10.2024

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar

12.2

2026

Annual report '25

25.3

2026

General meeting '26

6.5

2026

Interim report Q1'26

Risk

Business risk

Valuation risk

Low

High

All

Research

Webcasts

Press releases

3rd party

ShowingAll content types

Third party researchyesterday

CapMan: Exit conditions improving - Nordea

Ahead of CapMan's Q4 2025 results on 12 February, we make estimate revisions to reflect completed and upcoming exits, the first close of European Forest Fund IV and fair value changes. For Q4, we estimate continued year-on-year improvements in fee profit...

Regulatory press release1/15/2026, 9:00 AM

CapMan Oyj: Proposals by CapMan`s Shareholders' Nomination Board to the 2026 Annual General Meeting

CapMan, Webcast, Q4'25

Webcast2/12/2026, 7:30 AM

CapMan, Webcast, Q4'25

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Press release1/9/2026, 8:00 AM

CapMan Oyj: CapMan Buyout exits Forenom to a consortium led by Bravedo

Regulatory press release12/30/2025, 1:00 PM

CapMan Oyj: CapMan Plc Managers' Transactions - Frimodig

Analyst Comment12/29/2025, 11:40 AM by

Sauli Vilén, Kasper Mellas

2025 has been a year of ups and downs for asset managers

For asset managers on Nasdaq Helsinki, the trend has been mixed. The market situation has been very challenging for operators focusing on alternative investments, particularly real estate, while traditional asset management has continued to grow strongly.

Alexandria Group eQ Aktia Pankki Evli Titanium United Bankers Taaleri CapMan Mandatum

CapMan completes first close of new forest fund

Analyst Comment12/23/2025, 7:22 AM by

CapMan completes first close of new forest fund

However, CapMan did not disclose the size of the first closing, so it is not possible to assess the company's success at this point.

Regulatory press release12/23/2025, 6:00 AM

CapMan Oyj: CapMan Natural Capital announces first close of European Forest Fund IV

Analyst Comment12/10/2025, 8:29 AM by

Sauli Vilén, Kasper Mellas

The financial sector will rank top positions on dividend lists also next spring

For financial companies, 2025 has been very positive in terms of the operating environment, with strong capital market development and stabilized interest rates. However, the performance of the companies has been varying, and many companies we follow have suffered particularly from the subdued development of alternative investment returns (new sales and performance fees).

Aktia Pankki Oma Säästöpankki Alisa Pankki Nordea Bank Sampo Mandatum Alexandria Group Taaleri Evli eQ United Bankers CapMan Titanium

Regulatory press release12/3/2025, 11:00 AM

CapMan Oyj: CapMan Natural Capital exits forest assets to Inter IKEA Group

Regulatory press release11/20/2025, 10:05 AM

CapMan Oyj: CapMan Buyout exits DEN Group to Metric Capital Partners

CapMan Q3’25: Light at the end of the tunnel in the fundraising market

10:56

Video11/13/2025, 11:41 AM by

Sauli Vilén, Isa Hudd

CapMan Q3’25: Light at the end of the tunnel in the fundraising market

CapMan’s Q3 was slightly better than expected. Q3 revenue grew clearly due to the acquisitions completed earlier in the year.

Press release11/10/2025, 10:00 AM

CapMan Oyj: CapMan Natural Capital joins global initiative to integrate nature's value into investment decisions

CapMan Q3'25: Light at the end of the tunnel in the fundraising market

Research11/7/2025, 8:56 AM by

CapMan Q3'25: Light at the end of the tunnel in the fundraising market

Overall, the Q3 report was good and in line with our expectations. New sales are still cumbersome, but there is finally light at the end of the tunnel for the market. Our forecasts still expect significant earnings growth, and this is subject to success in new sales.

Third party research11/7/2025, 8:50 AM

CapMan: Heading in the right direction - Nordea

CapMan posted a strong set of Q3 2025 numbers, with profitability coming in above our expectation. Adjusted EBIT was EUR 8.5m, higher than our estimate of EUR 5.6m, supported by EUR 4.8m of positive fair value changes. Fee income increased to EUR 15....

Third party research11/6/2025, 8:23 AM

CapMan: A quarter of strong profitability - Nordea

CapMan’s Q3 fee income of EUR 15.2m grew 19% y/y and was slightly ahead with our estimate of EUR 14.6m. Fee profit of EUR 3.7m grew by 29% y/y and also beat our estimate of EUR 2.4m. Driven by better-than-expected fair value changes (EUR 4.8m vs. NDAe...

CapMan Q3’25 flash comment: Slightly better report than expected

Analyst Comment11/6/2025, 7:45 AM by

CapMan Q3’25 flash comment: Slightly better report than expected

CapMan released slightly better-than-expected Q3 results this morning. The earnings were in line with expectations, and the important management fees grew slightly more than we expected.

CapMan, Webcast, Q3'25

Webcast11/6/2025, 7:30 AM

CapMan, Webcast, Q3'25

Regulatory press release11/6/2025, 6:00 AM

CapMan Oyj: CapMan Plc 1-9 2025 Interim Report

CapMan Q3'25 preview: New sales remain sluggish

Analyst Comment11/3/2025, 8:22 AM by

CapMan Q3'25 preview: New sales remain sluggish

We expect the company to post good earnings in a seasonally strong quarter. However, fundraising remains gloomy, and the fundraising outlook is by far the most important aspect of the report.

Forum discussions

Forenom was one of those exits we were waiting for, as at least in my own books, there was a scenario where Buyout X would have reached profit sharing. This clearly didn’t happen, however, as the return remained below the hurdle rate (otherwise, this would have certainly been mentioned...

1/12/2026, 7:33 AM

by Sauli Vilen

42

News Powered by Cision CapMan Buyout myy Forenomin Bravedon johtamalle sijoittajaryhmälle CapMan Buyout tiedote 9. tammikuuta 2026 klo 10.00 CapMan Buyout X -rahasto on sopinut CapMan Buyout X fund has agreed to sell Forenom Group Oy, the leading provider of furnished apartments ...

1/9/2026, 8:24 AM

by Cadel

28

Arvopaperi’s Advent Calendar, Door 3: Three Cheap Growth Companies from the Helsinki Stock Exchange 3. Capman The asset management company Capman is forecast to grow its revenue by 22.6 percent in 2026. Its profit is estimated to grow by 52.6 percent. Based on 2026 forecasts, the...

12/3/2025, 2:30 PM

by Dissidentti

20

News Powered by Cision CapMan Real Estate ja Holiday Club solmivat 20 vuoden vuokrasopimuksen Oulun... CapMan Real Estate ja Holiday Club Resorts -tiedote 21.1.2026 klo 9.00 CapMan Real Estaten CapMan Hotels II, a fund managed by CapMan Real Estate, and Holiday Club Resorts have ...

1/21/2026, 7:04 AM

by Cadel

19

As far as I know, Frimodig still has ownership through Silvertärnan AB as well? This is an investment company that is Capman’s largest shareholder. Frimodig thus owns a part of this company through his own investment company, Boldhold. Here is an Inderes article from 2019: CapManissa...

12/30/2025, 9:19 PM

by Big Lynx

14

Chairman of the Board Frimodig sold 94,000 shares (~8.5% of holding): Inderes CapMan Oyj: Johdon liiketoimet - Frimodig - Inderes CapMan Oyj Pörssitiedote / Johtohenkilöiden liiketoimet 30.12.2025 klo 15.00CapMan Oyj: Johdon liiketoimet - FrimodigCapMan Oyj on vastaanottanut seuraavan...

12/30/2025, 1:25 PM

by Ilkka

13

Here are Kassu’s comments on CapMan completing the first closing of its new forest fund. Inderes CapMan toteutti uuden metsärahastonsa ensimmäisen sulkemisen - Inderes CapMan ei kuitenkaan kertonut ensimmäisen sulkemisen kokoa, joten yhtiön onnistumista ei tässä kohtaa ole mahdollista...

12/23/2025, 7:04 AM

by Sijoittaja-alokas

10

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