Harvia

40.95 EUR

+1.24 %

15,080 following

HARVIA

NASDAQ Helsinki

Home Products

Consumer Goods & Services

+1.24 %
+15.35 %
+10.68 %
-4.55 %
-1.33 %
-14.86 %
+84.96 %
-11.07 %
+719.00 %

Harvia is a manufacturer of sauna systems. The product range consists of complete solutions that include ready-made sauna and spa systems, as well as electric sauna heaters, wood-burning sauna stoves and related furnishings. In addition, the company manufactures infrared sauna systems. Operations are held on a global level, where the company's products are found through partners. The company was founded in 1950 and has its headquarters in Muurame.

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Market cap
765.53M EUR
Turnover
1.09M EUR
P/E (adj.) (26e)
23.69
EV/EBIT (adj.) (26e)
18.21
P/B (26e)
5.23
EV/S (26e)
3.68
Dividend yield-% (26e)
2 %
Coverage
Recommendation
Accumulate
Target price
44.00 EUR
Updated
07.05.2026
Disclaimer
Rauli Juva
Rauli Juva

Analyst

Latest research

Latest analysis report

Released: 08.05.2026

Latest extensive report

Released: 08.10.2025

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
6.8
2026

Interim report Q2'26

16.10
2026

Half year dividend

29.10
2026

Interim report Q3'26

Risk
Business risk
Valuation risk
Low
High
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Forum discussions
Target price increases: OP: €38 → €43 (“strong growth will continue in the coming years”), recommendation ACCUMULATE. Danske: €47 → €49 Nordea: €49 → €52
5/8/2026, 12:11 PM
by HH82
55
Matias went through the impacts of the IT reforms in the webcast. I will directly quote a couple of points from the webcast transcript here. Matias: "Now, this is quite a significant piece of work for us, and it will have an impact on our deliveries during Quarter Two. It will include...
5/7/2026, 5:50 PM
by Von Vetelä
51
I can’t say for sure; there might be some residual tails from the Thermasol integration, but other things are perhaps more likely. It’s no secret that Harvia is constantly scouting for new acquisitions. In connection with the Q4 results, the commentary sounded to me like something...
5/8/2026, 6:09 AM
by Rauli_Juva
44
Almanakka has written about Harvia once again Valuation: Harvia is valued at ~16x the next 12-month forward EBIT. In my opinion, this is closer to a buying level than a trimming level. If Harvia weren’t already the largest holding in my portfolio, I would certainly be adding at prices...
5/15/2026, 11:32 AM
by Sijoittaja-alokas
41
An interview with the well-spoken CEO, Järnefelt. Harvia Q1’26: The year began with record-breaking heat Harvia’s revenue rose to a record level driven by strong organic growth, and the gross margin remained high. Particularly positive was the broad-based nature of the growth across...
5/7/2026, 12:09 PM
40
The sauna folk of the North are starting to wake up from their hibernation and the US continues to roll forward excellently; this is a joy to own. It would be interesting to hear how the revenue is distributed between the APAC & MEA countries—which Asian countries are seen as having...
5/7/2026, 10:06 AM
by Löylykauha
38
Yeah, after Friday’s share price drop, the gap to the target prices just keeps growing… Rauli remains on a cautious stance…
5/10/2026, 9:34 AM
by Kunhalvallasaa
12
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