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Research

Incap: Into the eye of the storm

By Antti ViljakainenHead of Research
Incap
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Incap's Q3 report was mixed, as against a much better-than-expected Q3, guidance indicates a very poor Q4 and the significant uncertainties surrounding the near-term sales to the largest customer are largely unchanged.

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 page

Key Estimate Figures25.10.2023

202223e24e
Revenue263.8216.7236.1
growth-%55.4 %-17.9 %9.0 %
EBIT (adj.)40.028.328.8
EBIT-% (adj.)15.2 %13.1 %12.2 %
EPS (adj.)0.980.720.71
Dividend0.000.000.00
Dividend %
P/E (adj.)17.513.513.7
EV/EBITDA12.08.87.4

Forum discussions

The Norwegian guy has snapped up some more shares for his portfolio again, 130,000 shares this time. Seems like a pretty smart guy based on ...
2 hours ago
by Sateenkaarimursu
13
@Isa_Hudd and Antti discussed Incap. Inderes Incap: The Lacon acquisition - Inderes Time: 29.01.2026 klo 10.14 In December, Incap announced ...
1/29/2026, 8:44 AM
by Sijoittaja-alokas
7
Free trade is definitely positive for export companies like Incap, especially in the long run. In the short term, however, there may not necessarily...
1/27/2026, 11:41 AM
by Antti Viljakainen
24
Regarding Incap, it would be interesting to hear how the free trade agreement between India and the EU affects Incap. As I understand it, volumes...
1/27/2026, 6:22 AM
16
Inderes Incap: Taseen työ tukee osakkeen nousuvaraa - Inderes Näemme Lacon- yritysostossa strategista logiikkaa, mutta lähtötason korkeintaan...
1/7/2026, 5:44 AM
by Jamppa
21
Today, so far, 2.9 MEUR turnover (>300k shares). edit: As an interesting detail, a new name has appeared on the shareholder list: 4.12.2025:...
12/18/2025, 12:09 PM
by slipslop
16
Over 2 million euros worth of trade was done at Incap today. This is not unique, but it is rare. Edit. By the end of the day, the trade was ...
12/15/2025, 3:39 PM
by Belfastinbingviini
9
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