Mandatum
4.199
EUR
+0.21 %
MANTA
NASDAQ Helsinki
Financial Services
Financials
6,141 following
+0.21%
-1.32%
-2.62%
-2.01%
+1.13%
+3.17%
+4.05%
-
-
+14.46%
www.mandatum.fi/en/group
Mandatum has operations within the financial sector. The company offers various financial services to both private savers and corporate customers. The range is broad and mainly includes capital and wealth management, savings and investments, compensation and rewards, pension plans and personal risk insurance. The largest operations are found in Finland.
P/E (adj.) (24e)
12.19
EV/EBIT (adj.) (24e)
8.82
P/B (24e)
1.31
Dividend yield-% (24e)
8.1 %
Target price
4.50 EUR
Recommendation
Accumulate
Updated
13.11.2024
NASDAQ Helsinki
MANTA
Daily low / high price
4.165 / 4.206
EUR
Market cap
2.11B EUR
Turnover
663.41K EUR
Volume
158K
Business risk
Valuation risk
Current
Previous
Latest research
Extensive report
Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the reportAnalyst
Kasper Mellas
Analyst
Latest videos
Financial calendar
Annual report
13.02.2025
Interim report
08.05.2025
General meeting
15.05.2025
Interim report
14.08.2025
Interim report
11.11.2025
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 157.0 | 306.0 | 126.0 | 135.0 | 154.0 | 168.9 | 179.2 | 189.4 |
| growth-% | -43.9 % | 94.9 % | -58.8 % | 7.1 % | 14.0 % | 9.7 % | 6.1 % | 5.7 % |
| EBITDA | 164.5 | 314.1 | 84.3 | 216.0 | 218.8 | 190.1 | 173.6 | 168.6 |
| EBIT (adj.) | 157.0 | 306.0 | 75.7 | 210.4 | 218.8 | 190.1 | 173.6 | 168.6 |
| EBIT | 157.0 | 306.0 | 75.7 | 210.4 | 218.8 | 190.1 | 173.6 | 168.6 |
| Profit before taxes | 157.0 | 306.0 | 75.7 | 210.4 | 218.8 | 190.1 | 173.6 | 168.6 |
| Net income | 125.6 | 244.8 | 57.8 | 160.2 | 172.8 | 150.2 | 137.1 | 133.1 |
| EPS (adj.) | 0.23 | 0.45 | 0.12 | 0.32 | 0.34 | 0.30 | 0.27 | 0.27 |
| growth-% | -43.9 % | 97.9 % | -74.2 % | 177.2 % | 7.8 % | -13.1 % | -8.7 % | -2.9 % |
| Dividend | 0.00 | 0.37 | 0.39 | 0.33 | 0.34 | 0.35 | 0.27 | 0.27 |
| Dividend ratio | 81.7 % | 338.6 % | 103.4 % | 98.7 % | 117.0 % | 100.0 % | 100.0 % |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 104.8 % | 102.6 % | 66.9 % | 160.0 % | 142.1 % | 112.5 % | 96.9 % | 89.0 % |
| EBIT-% (adj.) | 100.0 % | 100.0 % | 60.1 % | 155.9 % | 142.1 % | 112.5 % | 96.9 % | 89.0 % |
| EBIT-% | 100.0 % | 100.0 % | 60.1 % | 155.9 % | 142.1 % | 112.5 % | 96.9 % | 89.0 % |
| ROE | 8.5 % | 14.8 % | 3.4 % | 9.7 % | 10.8 % | 9.4 % | 8.7 % | 8.6 % |
| ROI | 8.6 % | 15.1 % | 3.6 % | 10.8 % | 10.8 % | 8.8 % | 8.3 % | 8.2 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 3.70 | 3.70 | 3.70 | 4.07 | 4.20 | 4.20 | 4.20 | 4.20 |
| Shares | 556.6 | 548.0 | 501.8 | 501.8 | 501.8 | 501.8 | 501.8 | 501.8 |
| Market cap | 2,059.2 | 2,027.6 | 1,856.6 | 2,042.3 | 2,107.0 | 2,107.0 | 2,107.0 | 2,107.0 |
| Enterprise value | 1,729.6 | 1,484.3 | 1,481.5 | 1,553.7 | 1,929.7 | 1,648.3 | 1,695.3 | 1,708.3 |
| EV/S | 11.0 | 4.9 | 11.8 | 11.5 | 12.5 | 9.8 | 9.5 | 9.0 |
| EV/EBITDA | 10.5 | 4.7 | 17.6 | 7.2 | 8.8 | 8.7 | 9.8 | 10.1 |
| EV/EBIT (adj.) | 11.0 | 4.9 | 19.6 | 7.4 | 8.8 | 8.7 | 9.8 | 10.1 |
| EV/EBIT | 11.0 | 4.9 | 19.6 | 7.4 | 8.8 | 8.7 | 9.8 | 10.1 |
| P/E (adj.) | 16.4 | 8.3 | 32.1 | 12.7 | 12.2 | 14.0 | 15.4 | 15.8 |
| P/E | 16.4 | 8.3 | 32.1 | 12.7 | 12.2 | 14.0 | 15.4 | 15.8 |
| P/B | 1.3 | 1.2 | 1.1 | 1.3 | 1.3 | 1.3 | 1.4 | 1.4 |
| P/S | 13.1 | 6.6 | 14.7 | 15.1 | 13.7 | 12.5 | 11.8 | 11.1 |
| Dividend yield | 9.9 % | 10.5 % | 8.1 % | 8.1 % | 8.3 % | 6.5 % | 6.3 % | |
| Equity ratio | 10.8 % | 10.6 % | 11.4 % | 9.8 % | 9.6 % | 9.5 % | 9.4 % | 9.3 % |
| Gearing ratio | -20.8 % | -31.3 % | -22.2 % | -30.6 % | -11.0 % | -28.9 % | -26.6 % | -25.8 % |
Quarter data
| Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24 | Q4/24e | 2024e | Q1/25e | Q2/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 34.0 | 135.0 | 36.6 | 39.2 | 37.9 | 40.3 | 154.0 | ||
| EBITDA | 48.3 | 216.0 | 46.8 | 75.9 | 45.2 | 50.9 | 218.8 | ||
| EBIT | 46.3 | 210.4 | 46.8 | 75.9 | 45.2 | 50.9 | 218.8 | ||
| Profit before taxes | 46.3 | 210.4 | 46.8 | 75.9 | 45.2 | 50.9 | 218.8 | ||
| Net income | 29.2 | 160.2 | 37.9 | 57.8 | 36.4 | 40.7 | 172.8 |
ShowingAll content types
Mandatum Q3'24: Hopping back on board
Mandatum Oyj, Audiocast with teleconference, Q3'24
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Mandatum Q3'24 flash comment: Strong development in key earnings rows
Mandatum Oyj: Mandatum plc's interim report 1 January-30 September 2024: Fee result and client assets under management increased significantly
