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Tulikivi

0.46 EUR

+1.10 %

4,174 following

TULAV

NASDAQ Helsinki

Home Products

Consumer Goods & Services

+1.10 %
+2.91 %
+1.10 %
-5.15 %
+14.43 %
+10.84 %
-23.59 %
+195.82 %
+13.96 %

Tulikivi is a manufacturer of wood-burning stoves. The product range is wide and includes stoves made of soapstone. In addition to the main business, the company also offers sauna heaters adapted for both electric and wood-fired saunas, as well as interior stones for kitchens, bathrooms and saunas. The largest operations are in the Nordic region, where the products are sold through external retailers. The head office is located in Juuka.

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Market cap
27.54M EUR
Turnover
40.87K EUR
P/E (adj.) (25e)
521.22
EV/EBIT (adj.) (25e)
40.33
P/B (25e)
1.51
EV/S (25e)
1.19
Dividend yield-% (25e)
1.89 %
Coverage
Recommendation
Sell
Target price
0.38 EUR
Updated
10.11.2025
Disclaimer
Thomas Westerholm
Thomas Westerholm

Analyst

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
6.3
2026

Annual report '25

22.4
2026

General meeting '26

8.5
2026

Interim report Q1'26

Risk
Business risk
Valuation risk
Low
High
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Forum discussions
So we published the news directly from ChatGPT.
10/22/2025, 5:45 PM
by Puutaheinää
9
NIBE published its Q3 report on Friday, which at the group level showed cautious revenue growth and significantly improving relative profitability. However, the most challenging segment for the company was Stoves, which competes with Tulikivi. For this segment, comments indicate ...
11/17/2025, 8:41 AM
by Thomas Westerholm
6
The following news update is from Nordic Talc Oy’s website. Our Talc Project is Advancing Strongly – Responsibly and Diversely The project is progressing as planned in several areas: permit processes, technical design, utilization of by-products, and sustainability goals support ...
10/22/2025, 2:58 PM
by Jopinaattori
4
Perhaps the real market area for Tulikivi’s raw material would be Finland, which limits its commercial significance. If Polar Night’s solution became truly popular, it would certainly have economic significance for Tulikivi as well. I myself don’t believe this has very great economic...
10/21/2025, 1:27 PM
by Jopinaattori
3
Thomas has made a new company report after Tulikivi’s negative outlook. Tulikivi’s negative profit warning was not a significant surprise, but it makes the recovery of demand seem shakier than before. We have lowered our forecasts, especially for the current year. We still assume...
9/19/2025, 5:58 AM
by Sijoittaja-alokas
2
Here are also Thomas’s comments on Tulikivi’s negative profit warning. Tulikivi’s negative profit warning was not a significant surprise, as after a weaker start to the year compared to the reference period, achieving the guidance would have required a really strong end of the year...
9/18/2025, 5:13 AM
by Sijoittaja-alokas
2
Here is a new company report from Thomas on Tulikivi after Q3. Tulikivi’s Q3 report fell short of our expectations due to weakened order intake. Looking further ahead, we see the company having the prerequisites for strong earnings growth, supported by an expanded distribution network...
11/10/2025, 6:53 AM
by Sijoittaja-alokas
1
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