contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


talenom-international-recipe-tested-next-few-years

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Juha Kinnunen

Talenom is an accounting firm that offers a wide range of services within accounting, invoice management and payroll. In addition to the main business, financial analysis and the possibility of real-time control via the company's web services are offered. The largest proportion of customers are found among small and medium-sized corporate customers in the Nordic market. The company was founded in 1972 and has its headquarters in Oulu.

Well, the tax-loss selling has now been completed. This outfit is certainly one of the worst investments in a long time. Lesson learned: one shouldn’t believe the CEO’s spin in interim reports for too long if promises don’t start to materialize. I spent a long time considering whether to stay and see how Easor fares, but I don’t believe in it. Huhtala is at the helm and Fennoa is taking over the Finnish market. In Sweden, Fortnox has cemented its position. Spain was the only temptation to stay and follow the story, but I’ve taken such a beating that it’s time to move on to the next challenges.

Insider buying continues:                   Inderes              Talenom Oyj: Johdon liiketoimet - Inderes    Talenom Oyj: Johdon liiketoimet Talenom Oyj, johtohenkilöiden liiketoimet, 22.12.2025 klo 13.00____________________________________________IlmoitusvelvollinenNimi: Katriina TahkolaAsema: Lähipiiriin...                             Position: Person closely associated Volume: 16000 Average price: 2.99827 EUR

Harri reached into his pocket                   Inderes              Talenom Oyj: Johdon liiketoimet – Harri Tahkola - Inderes    Talenom Oyj: Johdon liiketoimet – Harri TahkolaTalenom Oyj, johtohenkilöiden liiketoimet, 19.12.2025 klo 12.00____________________________________________IlmoitusvelvollinenNimi: Hacap OyAsema...                             Volume: 20,000 Average price: 2.9538 EUR Not a huge addition to the existing stake, but wanted to support the share price.

A funny little mistake in the summary: “Talenom lowered its recommendation to the Add level and its target price to 3.4 euros due to a negative profit warning and weakened outlook.”

Juha has written a new company report on Talenom after all these events  We are lowering Talenom’s recommendation to Accumulate (prev. Buy) and our target price to EUR 3.4 (prev. EUR 3.8). This week, Talenom has issued a negative profit warning, published Easor’s listing prospectus, acquired three small accounting firms in Spain, provided guidance for both businesses for next year, and organized an investor webcast. The analysis of the whole is ongoing, but the outlook for next year in both businesses is not as good as we previously estimated. In Easor’s case, this was also affected by the one-year postponement of the Verifactu reform in Spain. When the demerger occurs, the current group’s forecasts will have little significance, but our sum-of-the-parts calculation ultimately decreased significantly.                   Inderes              Talenom: Paljon tapahtumia viikossa  - Inderes    Talenom on tällä viikolla antanut negatiivisen tulosvaroituksen, julkaissut Easorin listautumisesitteen, ostanut kolme pientä tilitoimistoa Espanjasta, antanut ohjeistukset molemmille liiketoiminnoille ensi vuodelle ja järjestänyt...

Here are the guidance comments. Interpreting this, Talenom’s accounting firm’s EBITDA profitability is weaker than expected. In a demerger, administration tends to, if not double, then grow proportionally. One can well agree with the aforementioned weakness when looking at yesterday’s guidances, i.e., adjusted EBITDA accumulated for 1-9/2025 was 16+ MEUR, meaning a run-rate of just under 22 MEUR.  And now guidance for 2026 is in the range of 18-22 MEUR, meaning at the upper end, the 2025 level is reached. So, in my opinion, the guidance is a bit lenient…  => The risk, of course, is that things will be taken too easily instead of pushing harder, anticipating, and ensuring. Perhaps the company is thinking too much that the finish line is in sight now that the long-term project has progressed almost to the demerger.                   Inderes              Talenomilta ohjeistus vuodelle 2026 - Inderes    Jakautumista tekevä Talenom julkaisi eilen yhtiöön jäävälle tilitoimistoliiketoiminnalle ohjeistuksen vuodelle 2026 (liikevaihto 110–120 MEUR ja vertailukelpoinen käyttökate 18–22 MEUR). Ohjeistus oli liikevaihdon osalta odotettu, mutta...

Here are Juha’s comments on Talenom’s recent acquisitions.  Talenom continued its acquisitions in Spain by acquiring three small accounting firms in the Spanish Basque Country. Their combined annual revenue is approximately EUR 1.9 million annually, and the companies will become part of the group at the turn of the year. The acquisitions expand Talenom’s operations in Spain into a new and strategically important market area. Strengthening the network in Spain’s evolving accounting market is, in our opinion, strategically important for the potential of both the accounting business and Easor’s software business.                   Inderes              Talenomilta uusia yritysostoja Espanjasta - Inderes    Talenom jatkoi yritysostoja Espanjassa hankkiessaan itselleen kolme pientä tilitoimistoa Espanjan Baskimaassa. Kaikkien yhteenlaskettu liikevaihto on noin 1,9 MEUR vuositasolla.

Talenom

Talenom’s earnings growth story will get back on track in the next few years as the company moves from aggressive growth to reviving profitability. The company is facing critical years for internationalization, as Sweden seeks efficiency from its own accounting system and Spain is being ramped up.

<p>Talenom’s earnings growth story will get back on track in the next few years as the company moves from aggressive growth to reviving profitability. The company is facing critical years for internationalization, as Sweden seeks efficiency from its own accounting system and Spain is being ramped up. After a strong price rise, the stock is no longer in the bargain bin, but if Finland’s success story can be transferred abroad, the stock is still cheap. The track record is still weak outside Finland, but the ingredients for a recipe for success are present. </p> <p> </p> 

	2022	23e	24e
Revenue	102.1	121.4	136.8
growth-%	23.3 %	18.9 %	12.6 %
EBIT (adj.)	15.3	11.4	15.8
EBIT-% (adj.)	15.0 %	9.4 %	11.6 %
EPS (adj.)	0.27	0.14	0.20
Dividend	0.18	0.18	0.19
Dividend %	2.0 %	6.1 %	6.4 %
P/E (adj.)	34.3	21.2	15.0
EV/EBITDA	14.2	6.4	5.5

Talenom: International recipe tested in the next few years

Key Estimate Figures27.12.2023

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