Incap: Cylinders are hot
Incap's H1 was strong and a similar beat seems to have continued in H2. The company's operational performance is astonishing and a strong balance sheet provides plenty of leeway for acquisitions that fit into the strategy. Share valuation has risen but we feel the excellent earnings growth outlook speaks for owning the company that has proven its quality.
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.
Read more on company pageKey Estimate Figures16.09.2021
| 2020 | 21e | 22e | |
|---|---|---|---|
| Revenue | 106.5 | 150.2 | 175.7 |
| growth-% | 49.9 % | 41.0 % | 17.0 % |
| EBIT (adj.) | 14.6 | 21.5 | 25.8 |
| EBIT-% (adj.) | 13.8 % | 14.3 % | 14.7 % |
| EPS (adj.) | 0.37 | 0.59 | 0.69 |
| Dividend | 0.00 | 0.12 | 0.13 |
| Dividend % | 1.7 % | 1.8 % | |
| P/E (adj.) | 9.8 | 12.4 | 10.5 |
| EV/EBITDA | 7.1 | 8.7 | 7.2 |
Forum discussions
