Tulikivi
0.46 EUR -1.5%4,177 investors are following this company
Tulikivi is a manufacturer of wood burning stoves. The product range is wide and the ovens are made of soapstone. In addition to the main business, sauna heaters adapted for both electric saunas and wood-fired saunas are also offered, as well as furnishing stones for kitchens, bathrooms, and saunas. The largest operations are in the Nordic region, where the products are sold through external resellers.
P/E (24e)
10.81
EV/EBIT (adj.) (24e)
8.62
P/B (24e)
1.37
Dividend yield-% (24e)
4.35 %
Target price
0.40 EUR
Recommendation
Reduce
Updated
29.4.2024
NASDAQ Helsinki
TULAV
Daily low / high price
0.4 / 0.488
EUR
Market cap
27.54M EUR
Turnover
93.8K EUR
Volume
210K
Business risk
Valuation risk
Current
Previous
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Vauhkonen Matti Heikki | 10.8 % | 10.8 % |
Ilmarinen Mutual Pension Insurance Company | 5.7 % | 5.7 % |
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Insider Transactions
Insider | Date | Total value |
---|---|---|
Jaakko Aspara | 29.01.2024 | 12,374EUR |
Jouko Toivanen | 27.06.2023 | 15,536EUR |
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This content is for our Premium customers only.
Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 29.2 | 33.5 | 44.3 | 45.4 | 37.2 | 34.6 | 35.2 | 36.1 |
growth-% | 1.6 % | 14.9 % | 32.1 % | 2.4 % | -18.0 % | -6.8 % | 1.6 % | 2.7 % |
EBITDA | 3.6 | 5.1 | 7.2 | 8.6 | 6.5 | 5.7 | 6.0 | 5.7 |
EBIT (adj.) | 1.2 | 2.7 | 4.7 | 5.5 | 3.7 | 3.2 | 3.5 | 3.3 |
EBIT | 1.2 | 2.7 | 4.7 | 5.5 | 3.7 | 3.2 | 3.5 | 3.3 |
Profit before taxes | 0.4 | 2.1 | 4.1 | 4.9 | 3.2 | 2.8 | 3.2 | 3.2 |
Net income | 0.2 | 1.7 | 4.9 | 3.8 | 2.5 | 2.2 | 2.6 | 2.6 |
EPS (adj.) | 0.00 | 0.03 | 0.08 | 0.06 | 0.04 | 0.04 | 0.04 | 0.04 |
growth-% | 616.9 % | 189.2 % | -23.5 % | -32.8 % | -11.7 % | 14.7 % | -0.1 % | |
Dividend | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.02 | 0.03 | 0.03 |
Dividend ratio | 47.0 % | 55.6 % | 60.3 % | 60.0 % |
Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 12.4 % | 15.3 % | 16.3 % | 18.9 % | 17.4 % | 16.5 % | 17.0 % | 15.8 % |
EBIT-% (adj.) | 4.0 % | 8.1 % | 10.7 % | 12.0 % | 9.9 % | 9.3 % | 10.1 % | 9.0 % |
EBIT-% | 4.0 % | 8.1 % | 10.7 % | 12.0 % | 9.9 % | 9.3 % | 10.1 % | 9.0 % |
ROE | 3.1 % | 19.6 % | 41.2 % | 23.3 % | 13.3 % | 10.9 % | 11.8 % | 11.0 % |
ROI | 4.9 % | 11.4 % | 17.9 % | 18.2 % | 12.9 % | 12.9 % | 14.8 % | 13.7 % |
Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 0.39 | 0.48 | 0.60 | 0.47 | 0.46 | 0.46 | 0.46 | 0.46 |
Shares | 59.7 | 59.7 | 59.7 | 59.7 | 59.7 | 59.7 | 59.7 | 59.7 |
Market cap | 23.0 | 28.6 | 35.8 | 28.3 | 27.5 | 27.5 | 27.5 | 27.5 |
Enterprise value | 36.9 | 42.2 | 46.3 | 38.9 | 31.7 | 29.4 | 27.4 | 25.5 |
EV/S | 1.3 | 1.3 | 1.0 | 0.9 | 0.9 | 0.8 | 0.8 | 0.7 |
EV/EBITDA | 10.2 | 8.3 | 6.4 | 4.5 | 4.9 | 5.1 | 4.6 | 4.5 |
EV/EBIT (adj.) | 31.4 | 15.6 | 9.8 | 7.1 | 8.6 | 9.1 | 7.7 | 7.8 |
EV/EBIT | 31.4 | 15.6 | 9.8 | 7.1 | 8.6 | 9.1 | 7.7 | 7.8 |
P/E (adj.) | 96.5 | 16.7 | 7.3 | 7.5 | 10.8 | 12.2 | 10.7 | 10.7 |
P/E | 96.5 | 16.7 | 7.3 | 7.5 | 10.8 | 12.2 | 10.7 | 10.7 |
P/B | 2.9 | 3.0 | 2.5 | 1.6 | 1.4 | 1.3 | 1.2 | 1.1 |
P/S | 0.8 | 0.9 | 0.8 | 0.6 | 0.7 | 0.8 | 0.8 | 0.8 |
Dividend yield | 2.1 % | 4.4 % | 4.6 % | 5.7 % | 5.6 % | |||
Equity ratio | 24.6 % | 29.4 % | 39.0 % | 49.8 % | 61.4 % | 67.6 % | 73.1 % | 76.8 % |
Gearing ratio | 175.3 % | 142.9 % | 72.7 % | 58.4 % | 21.1 % | 9.2 % | -0.2 % | -8.3 % |
Quarter data
Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24e | Q2/24e | Q3/24e | Q4/24e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 13.0 | 13.3 | 9.1 | 9.9 | 45.4 | 8.3 | 8.6 | 9.8 | 10.6 |
EBITDA | 1.9 | 3.1 | 2.0 | 1.5 | 8.6 | 1.2 | 1.6 | 1.8 | 1.9 |
EBIT | 1.3 | 2.3 | 1.3 | 0.6 | 5.5 | 0.5 | 0.9 | 1.1 | 1.2 |
Profit before taxes | 1.1 | 2.2 | 1.1 | 0.5 | 4.9 | 0.4 | 0.7 | 1.0 | 1.1 |
Net income | 0.8 | 1.7 | 1.0 | 0.3 | 3.8 | 0.3 | 0.6 | 0.8 | 0.9 |
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RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF TULIKIVI CORPORATION
Notification in accordance with Chapter 9, section 5, of the Securities Markets Act
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