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Research

Digital Workforce: A clear turn is expected compared to H2

By Joni GrönqvistAnalyst
Digital Workforce
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The big picture of Digital Workforce's H2 was already known and revenue decreased clearly and the result was slightly in the red. However, the company was confident in the current year and guided that revenue and earnings would grow. In our view, however, the challenging market brings clear uncertainty to the turnaround. In addition, the company’s strategically important OutSmart platform and growth markets are still in a relatively early stage and require more proof to rely more on the attractive long-term growth story. With our forecasts, the stock's valuation picture (2024e EV/S 0.8x, SOTP EUR 3.6) supports caution in the short term.

Digital Workforce is a service provider specializing in industrial-scale process automation services. The company's service offering covers the entire intelligent automation lifecycle: design and consulting, development and deployment, cloud-based platform, support and maintenance, and further development. The company offers services and solutions to customers in various industries, including finance, healthcare, industry, logistics, and various public actors.

Read more on company page

Key Estimate Figures28.02.2024

202324e25e
Revenue24.925.627.8
growth-%-2.2 %2.9 %8.5 %
EBIT (adj.)-0.00.51.7
EBIT-% (adj.)-0.2 %2.1 %5.9 %
EPS (adj.)0.010.060.15
Dividend0.000.000.00
Dividend %
P/E (adj.)375.042.417.4
EV/EBITDAneg.19.97.0

Forum discussions

Bro, I was just about to come and wonder if this wasn’t a wildly good investment, but I’m not wondering so much anymore, thanks to your post...
yesterday
by Sijoittaja-alokas
5
I’ve been following DWF with half an eye for a while, as this activity raises so many questions about what the goal is. A while ago, ambitious...
yesterday
by Karhu Hylje
8
New strategic partnership for the insurance sector: Inderes Sisäpiiritieto: Digital Workforce ja Davies ovat solmineet strategisen... 20.2.2026...
yesterday
by Karhu Hylje
9
A fresh report from Joni regarding the financial results: We reiterate our Add rating for the share and a target price of EUR 3.2. Digital Workforce...
2/19/2026, 8:15 AM
by Karhu Hylje
10
Joni interviewed Digital Workforce CEO Jussi Vasama regarding Q4 Inderes Digital Workforce Q4'25: Kannattava kasvu jatkui - Inderes Aika: 18...
2/18/2026, 12:53 PM
by Sijoittaja-alokas
10
By the way, they could have used the dividend amount to buy out the shares of the weak hands. A share buyback via a tender offer would have ...
2/18/2026, 10:41 AM
by Mainari
4
Here are Joni’s quick comments on the Q4 results. Digital Workforce announced its 2025 financial statements this morning. Revenue grew strongly...
2/18/2026, 9:56 AM
by Sijoittaja-alokas
1
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