Metso

7.95 EUR

-0.65 %

METSO

NASDAQ Helsinki

Industrial Goods & Services

Industrials

12,713 following

-0.65%

-3.78%

-15.8%

-14.57%

-33%

-13.3%

-12.75%

-16.33%

+41.76%

+147.09%

www.mogroup.com/corporate/investors

Metso is a supplier of technologies promoting sustainable development as well as comprehensive solutions and services for handling aggregates, mineral processing and metal refining all over the world. The company improves the efficiency of its customers' energy and water use, increases their productivity and reduces environmental risks with the help of its product and process know-how. Metso was born from the merger of Metso Minerals and Outotec in July 2020, and its headquarters is in Helsinki.

P/E (adj.) (24e)

13.02

EV/EBIT (adj.) (24e)

P/B (24e)

2.52

Dividend yield-% (24e)

4.4 %

Target price

11.00 EUR

Recommendation

Buy

Updated

24.10.2024

NASDAQ Helsinki

METSO

Daily low / high price

7.93 / 8.02 EUR

Market cap

6.59B EUR

Turnover

1.88M EUR

Volume

235K

Business risk

Valuation risk

Current

Erkki Vesola

Analyst

Latest videos

Metso, Interim Report January – September 2024

24.10.2024

Metso H1 Half-Year Review teleconference

24.07.2024

Metso, Q1'24

25.04.2024

Financial calendar

Annual report

13.02.2025

Interim report

24.04.2025

General meeting

24.04.2025

Interim report

23.07.2025

Interim report

23.10.2025

Income statement

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
Revenue	3,898.0	4,236.0	4,970.0	5,390.0	4,939.3	5,228.1	5,507.2	5,729.3
growth-%	-6.9 %	8.7 %	17.3 %	8.5 %	-8.4 %	5.8 %	5.3 %	4.0 %
EBITDA	437.3	591.4	645.3	963.0	915.9	948.1	1,028.7	1,069.2
EBIT (adj.)	349.3	474.4	651.3	823.0	745.9	789.6	848.3	882.7
EBIT	277.3	424.4	489.3	805.0	753.9	789.6	848.3	882.7
Profit before taxes	239.3	384.9	426.3	725.0	681.9	749.2	800.0	846.0
Net income	176.3	341.2	318.3	536.0	510.4	561.9	600.0	634.5
EPS (adj.)	0.28	0.46	0.53	0.66	0.61	0.68	0.73	0.77
growth-%	-19.1 %	63.0 %	16.1 %	25.0 %	-8.2 %	11.4 %	6.8 %	5.8 %
Dividend	0.20	0.23	0.30	0.36	0.35	0.38	0.40	0.45
Dividend ratio	93.9 %	55.8 %	77.8 %	55.5 %	56.7 %	55.9 %	55.1 %	58.6 %

Profitability and return on capital

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
EBITDA-%	11.2 %	14.0 %	13.0 %	17.9 %	18.5 %	18.1 %	18.7 %	18.7 %
EBIT-% (adj.)	9.0 %	11.2 %	13.1 %	15.3 %	15.1 %	15.1 %	15.4 %	15.4 %
EBIT-%	7.1 %	10.0 %	9.8 %	14.9 %	15.3 %	15.1 %	15.4 %	15.4 %
ROE	8.7 %	15.9 %	13.9 %	21.7 %	19.6 %	20.5 %	19.8 %	19.1 %
ROI	8.4 %	12.9 %	14.3 %	21.2 %	18.9 %	19.7 %	21.0 %	21.5 %

Valuation

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
Share price (EUR)	8.18	9.35	9.61	9.17	7.95	7.95	7.95	7.95
Shares	827.6	827.6	825.6	826.3	826.3	826.3	826.3	826.3
Market cap	6,765.7	7,736.5	7,934.4	7,577.4	6,569.3	6,569.3	6,569.3	6,569.3
Enterprise value	7,564.7	8,214.5	8,618.4	8,461.4	7,461.3	7,177.5	6,892.1	6,579.5
EV/S	1.9	1.9	1.7	1.6	1.5	1.4	1.3	1.1
EV/EBITDA	17.3	13.9	13.4	8.8	8.1	7.6	6.7	6.2
EV/EBIT (adj.)	21.7	17.3	13.2	10.3	10.0	9.1	8.1	7.5
EV/EBIT	27.3	19.4	17.6	10.5	9.9	9.1	8.1	7.5
P/E (adj.)	29.1	20.4	18.1	13.8	13.0	11.7	10.9	10.4
P/E	38.4	22.7	24.9	14.1	12.9	11.7	10.9	10.4
P/B	3.3	3.4	3.4	2.9	2.5	2.3	2.1	1.9
P/S	1.7	1.8	1.6	1.4	1.3	1.3	1.2	1.1
Dividend yield	2.5 %	2.5 %	3.1 %	3.9 %	4.4 %	4.8 %	5.0 %	5.7 %
Equity ratio	37.7 %	40.2 %	36.3 %	38.3 %	39.9 %	43.3 %	46.8 %	49.8 %
Gearing ratio	39.2 %	21.2 %	29.1 %	33.8 %	34.0 %	21.0 %	10.2 %	0.3 %

Quarter data

	Q4/23	2023	Q1/24	Q2/24	Q3/24	Q4/24e	2024e	Q1/25e	Q2/25e
Revenue	1,341.0	5,390.0	1,217.0	1,214.0	1,160.0	1,348.3	4,939.3	1,204.8	1,302.7
EBITDA	241.6	963.0	229.7	235.5	217.7	233.0	915.9	213.0	236.8
EBIT	200.6	805.0	187.7	195.5	177.7	193.0	753.9	173.4	197.1
Profit before taxes	175.6	725.0	165.4	179.8	159.7	177.0	681.9	163.3	187.0
Net income	132.6	536.0	124.4	133.8	122.7	129.5	510.4	122.5	140.3