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Incap

8.64 EUR-0.69 %10.7, 17.29
6,377 following

ICP1V

NASDAQ Helsinki

Electrical Equipment

Industrials

Overview
Financials & Estimates
Dividend
Investor consensus
Compare
-0.69 %
-4.64 %
-11.11 %
-14.46 %
-12.02 %
-28.00 %
-18.49 %
+15.51 %
-80.62 %

Incap operates in the industrial sector. The company supplies equipment and services for industrial players, where the range includes PCB assembly, system integration, box building integration, design validation, and inspection methods. The largest operations are found in the Nordic, Baltic and Asian regions. The company was originally established in 1985 and is headquartered in Helsinki.

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Market cap
254.43M EUR
Turnover
240.12K EUR
P/E (adj.) (26e)
11.14
EV/EBIT (adj.) (26e)
7.44
P/B (26e)
1.63
EV/S (26e)
0.83
Dividend yield-% (26e)
-
Coverage
Recommendation
Accumulate
Target price
12.00 EUR
Updated
03.05.2026
Disclaimer
Antti Viljakainen
Antti Viljakainen

Head of Research

Latest research

Latest analysis report

Released: 04.05.2026

Latest extensive report

Released: 23.06.2025

Revenue and EBIT-%
EPS and dividend
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Forum discussions
Inderes Incap Saksalle KNDS:ltä vahvat puolustussektorin tilaukset... Incap Oyj | Lehdistötiedote | 08.07.2026 klo 09:00:00 EESTKNDS, johtava eurooppalainen puolustusjärjestelmien valmistaja, on tilannut Incapiltä yli 11 miljoonan euron arvosta kaapelisarjoja ...
7/8/2026, 6:01 AM
by Tuuukka
29
The newest client, KNDS, generated €4.4 billion in revenue in 2025 (+16%), is targeting ~30% growth in 2026, and has a record order backlog of €33.1 billion (as of Dec 31, 2025), with a mid-term revenue target of €11–12 billion. The signaling value is therefore more significant than...
7/8/2026, 7:01 AM
by Thiebault
28
I’m sure more of these will follow if and when things just work out. From the press release: KNDS, a leading European manufacturer of defense systems, has ordered cable harnesses and electromechanical assemblies for Leopard tanks from Incap, valued at over 11 million euros. The products...
7/8/2026, 6:31 AM
by yellowbeak
24
Here are Petri’s comments on this recent 11 million order On Wednesday, Incap announced that it had received an order worth over EUR 11 million from the European defense systems manufacturer KNDS for cable harnesses and electromechanical assemblies for Leopard tanks. We consider ...
yesterday
by Sijoittaja-alokas
13
This is an important development and certainly must have been known already when the Laco deal was being finalized. We now hope that this customer relationship will serve as a positive example for other companies operating in the defense sector. Hopefully, there are other projects...
7/8/2026, 6:11 AM
13
Here are Markus’s thoughts on that new order, as well as a few other things. https://x.com/ValueByMarkus/status/2075311337501086097 In this recent tweet, he has “quoted” his tweet from December 2025:
9 hours ago
by Sijoittaja-alokas
12
I don’t know if Vikram Solar still plays as significant a role as a customer, but the fiscal year ending 3/2026 seemed to go very well for Vikram. This is old news already, but it didn’t come up in the thread at a quick glance: Vikram Solar Reports Record FY26 Revenue Growth | Sangita...
7/8/2026, 7:03 AM
by yellowbeak
12
Read more on our forum
Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
30.7
2026

Interim report Q2'26

29.10
2026

Interim report Q3'26

Incap receives an order exceeding 11 MEUR from the defense sector
Analyst Comment09.07.2026, 07.42 by
Petri Gostowski

Incap receives an order exceeding 11 MEUR from the defense sector

Incap announced on Wednesday that it had received an order from the European defense systems manufacturer KNDS.

Incap
Third party research08.07.2026, 09.29

Incap: Received EUR 11m order from KNDS - Nordea

Incap delivers cable harnesses and electromechanical assemblies for the Leopard tank under a three-year contract. The EUR 11m order from KNDS represents 1.2% increase in annual net sales. Incap also expects the order volumes to be extended for additional...

Incap
Press release08.07.2026, 08.00

Incap Germany receives strong defence orders from KNDS for Leopard tank programme

Incap

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Press release06.07.2026, 12.30

Incap Germany’s Karlsfeld factory achieves ISO/IEC 27001:2022 certification covering information security management

Incap
Incap's German Factory Managing Director of Operations Interviewed9:39
Video06.07.2026, 10.18 by
Antti Viljakainen

Incap's German Factory Managing Director of Operations Interviewed

We visited Incap's factory in Karlsfeld, Germany, and got a look at the operations and production at the plant. Antti Viljakainen interviews Afrem Alfia, Managing Director of Operations at Incap's German factory.

Incap
Press release26.06.2026, 09.00

Incap Slovakia invests in cleanroom capability to support semiconductor manufacturing requirements

Incap
Visiting Incap’s factory in Germany, interview with CEO Otto Pukk10:57
Video25.06.2026, 14.28 by
Antti Viljakainen

Visiting Incap’s factory in Germany, interview with CEO Otto Pukk

We visited Incap’s factory in Karlsfeld, Germany. CEO Otto Pukk interviewed by analyst Antti Viljakainen.

Incap
Press release22.06.2026, 08.00

Save the date: Incap’s Capital Markets Day on 17 November 2026

Incap
Press release17.06.2026, 11.45

Adam Ryder appointed as Managing Director of Incap UK

Incap
Press release10.06.2026, 14.45

Incap’s US factory resumes production after power outage

Incap
Regulatory press release10.06.2026, 08.00

Changes in Incap’s Management Team: Incap updates its leadership model to support its growth strategy

Incap
The temporary shutdown of the US factory due to the storm has no significant financial impact on Incap
Analyst Comment10.06.2026, 08.18 by
Antti Viljakainen

The temporary shutdown of the US factory due to the storm has no significant financial impact on Incap

Incap estimates that the temporary shutdown currently has no significant financial impact on the company.

Incap
Press release09.06.2026, 11.30

Incap’s US factory in Pennsylvania closed due to power outage following severe storms

Incap
We visited Incap's factory in Karlsfeld, Germany
Analyst Comment09.06.2026, 08.42 by
Antti Viljakainen

We visited Incap's factory in Karlsfeld, Germany

The Karlsfeld factory became part of Incap in the Lacon acquisition, which was completed in February.

Incap
Press release01.06.2026, 08.00

Incap India receives Leading Importer award from Central Warehousing Corporation

Incap
Press release28.05.2026, 12.00

Incap Slovakia joins Slovak Security and Defence Industry Association

Incap
Regulatory press release26.05.2026, 17.15

Incap Corporation: Managers' Transactions – Ralf Hasler

Incap
Regulatory press release20.05.2026, 15.30

Incap Corporation: Resolutions of Annual General Meeting and the constitutive meeting of the Board of Directors

Incap
Press release12.05.2026, 08.00

Incap India invests in testing and SMT upgrades to scale production

Incap
Third party research04.05.2026, 07.10

Incap: Risks related to revenue volatility have not abated - Nordea

We expected positive organic revenue growth for Q1, but organic growth was flat. A weaker-than-expected EBITA margin also indicates an unfavourable sales mix in the quarter. Moreover, the integration of Lacon in February could have affected profitability...

Incap