Wärtsilä
17.75
EUR
-2.07 %
WRT1V
NASDAQ Helsinki
Industrial Goods & Services
Industrials
17,564 following
-2.07%
-4.36%
-11.34%
-4.44%
-5.76%
+35.24%
+49.35%
+32.36%
+88.95%
+636.3%
www.wartsila.com/investors
Wärtsilä specializes in power solutions for the marine and energy sectors. The business is managed based on several business segments and the range includes integrated system solutions, spare parts, and associated service functions during the installation cycle, but also complete operation and optimization services. The company was originally founded in 1834 and is headquartered in Helsinki, Finland.
P/E (adj.) (24e)
21.93
EV/EBIT (adj.) (24e)
15.26
P/B (24e)
4.18
Dividend yield-% (24e)
2.37 %
Target price
19.50 EUR
Recommendation
Accumulate
Updated
30.10.2024
NASDAQ Helsinki
WRT1V
Daily low / high price
17.62 / 18.09
EUR
Market cap
10.5B EUR
Turnover
10.96M EUR
Volume
617K
Business risk
Valuation risk
Current
Previous
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,604.0 | 4,778.0 | 5,843.0 | 6,014.0 | 6,511.3 | 7,489.1 | 8,053.1 | 8,449.5 |
| growth-% | -10.9 % | 3.8 % | 22.3 % | 2.9 % | 8.3 % | 15.0 % | 7.5 % | 4.9 % |
| EBITDA | 408.0 | 476.0 | 240.0 | 595.0 | 842.7 | 1,014.4 | 1,107.9 | 1,158.0 |
| EBIT (adj.) | 308.0 | 388.0 | 328.0 | 497.0 | 689.0 | 856.7 | 943.1 | 993.0 |
| EBIT | 234.0 | 314.0 | -23.0 | 402.0 | 691.0 | 856.7 | 943.1 | 993.0 |
| Profit before taxes | 191.0 | 296.0 | -30.0 | 365.0 | 671.0 | 852.0 | 944.0 | 999.1 |
| Net income | 134.0 | 193.0 | -63.0 | 258.0 | 478.3 | 607.3 | 672.9 | 712.1 |
| EPS (adj.) | 0.33 | 0.44 | 0.48 | 0.56 | 0.81 | 1.03 | 1.14 | 1.21 |
| growth-% | -41.7 % | 30.5 % | 9.3 % | 16.8 % | 45.2 % | 27.4 % | 10.8 % | 5.8 % |
| Dividend | 0.20 | 0.24 | 0.26 | 0.32 | 0.42 | 0.55 | 0.67 | 0.68 |
| Dividend ratio | 88.3 % | 73.4 % | -243.5 % | 73.1 % | 51.7 % | 53.3 % | 58.6 % | 56.2 % |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 8.9 % | 10.0 % | 4.1 % | 9.9 % | 12.9 % | 13.5 % | 13.8 % | 13.7 % |
| EBIT-% (adj.) | 6.7 % | 8.1 % | 5.6 % | 8.3 % | 10.6 % | 11.4 % | 11.7 % | 11.8 % |
| EBIT-% | 5.1 % | 6.6 % | -0.4 % | 6.7 % | 10.6 % | 11.4 % | 11.7 % | 11.8 % |
| ROE | 5.9 % | 8.6 % | -2.8 % | 11.8 % | 20.2 % | 22.7 % | 22.2 % | 21.1 % |
| ROI | 6.7 % | 9.5 % | 0.2 % | 13.2 % | 22.9 % | 27.7 % | 29.0 % | 29.0 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 8.15 | 12.36 | 7.87 | 13.13 | 17.75 | 17.75 | 17.75 | 17.75 |
| Shares | 591.7 | 590.0 | 590.0 | 589.0 | 589.0 | 589.0 | 589.0 | 589.0 |
| Market cap | 4,822.5 | 7,292.7 | 4,643.5 | 7,733.9 | 10,455.2 | 10,455.2 | 10,455.2 | 10,455.2 |
| Enterprise value | 5,230.5 | 7,300.7 | 5,131.5 | 7,775.9 | 10,512.6 | 10,282.0 | 10,016.7 | 9,748.1 |
| EV/S | 1.1 | 1.5 | 0.9 | 1.3 | 1.6 | 1.4 | 1.2 | 1.2 |
| EV/EBITDA | 12.8 | 15.3 | 21.4 | 13.1 | 12.5 | 10.1 | 9.0 | 8.4 |
| EV/EBIT (adj.) | 17.0 | 18.8 | 15.6 | 15.6 | 15.3 | 12.0 | 10.6 | 9.8 |
| EV/EBIT | 22.4 | 23.3 | - | 19.3 | 15.2 | 12.0 | 10.6 | 9.8 |
| P/E (adj.) | 24.3 | 28.3 | 16.5 | 23.6 | 21.9 | 17.2 | 15.5 | 14.7 |
| P/E | 36.0 | 37.8 | - | 30.0 | 21.9 | 17.2 | 15.5 | 14.7 |
| P/B | 2.2 | 3.2 | 2.2 | 3.5 | 4.2 | 3.7 | 3.3 | 3.0 |
| P/S | 1.0 | 1.5 | 0.8 | 1.3 | 1.6 | 1.4 | 1.3 | 1.2 |
| Dividend yield | 2.5 % | 1.9 % | 3.3 % | 2.4 % | 2.4 % | 3.1 % | 3.8 % | 3.8 % |
| Equity ratio | 37.8 % | 38.6 % | 35.8 % | 36.2 % | 40.5 % | 42.4 % | 45.3 % | 47.3 % |
| Gearing ratio | 18.7 % | 0.3 % | 22.7 % | 1.9 % | 2.3 % | -6.0 % | -13.6 % | -20.0 % |
Quarter data
| Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24 | Q4/24e | 2024e | Q1/25e | Q2/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,643.0 | 6,014.0 | 1,322.0 | 1,555.0 | 1,718.0 | 1,916.3 | 6,511.3 | 1,726.8 | 1,811.3 |
| EBITDA | 173.0 | 595.0 | 162.0 | 205.0 | 230.0 | 245.7 | 842.7 | 113.2 | 151.0 |
| EBIT | 128.0 | 402.0 | 127.0 | 168.0 | 192.0 | 204.0 | 691.0 | 73.8 | 111.5 |
| Profit before taxes | 121.0 | 365.0 | 118.0 | 161.0 | 190.0 | 202.0 | 671.0 | 72.6 | 110.4 |
| Net income | 95.0 | 258.0 | 85.0 | 116.0 | 142.2 | 135.1 | 478.3 | 50.0 | 76.1 |
ShowingAll content types
Wärtsilä Q3'24: Here we go again
Wärtsilä Oyj Abp, Q3'24
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Wärtsilä Corporation: Wärtsilä's Interim Report January-September 2024
Notification in accordance with the Finnish Securities Market Act Chapter 9 § 5: Varma Mutual Pension Insurance Company's holding in Wärtsilä Corporation
Wärtsilä: Speed bumps coming up
Notification in accordance with the Finnish Securities Market Act Chapter 9 § 10: BlackRock, Inc.'s holding in Wärtsilä Corporation
Wärtsilä Corporation: Appointments to Wärtsilä's Board of Management
Wärtsilä Q2'24: Good outlook already priced into the stock
Wärtsilä Q2'24: Impressive Results
