Revenio Group: New long-term opportunities created
Revenio's Q1 report was very strong, especially in terms of profitability, and the long-term story continues to progress convincingly. On Wednesday, the company told about an interesting opportunity in AI, which opens new growth opportunities for the company. However, our estimates for the next few years remain largely unchanged and the share valuation (2023e P/E 55x and EV/EBIT 43x) is very high. In the long term, the expected very strong earnings growth will correct even the higher valuation multiples, but due to the strong headwind of growth companies’ pricing, we still see risks in the valuation and refrain from further purchases.
Revenio Group
Revenio is a medical technology company. Within the Group, there is research and development of pressure measurement technology that is used in the treatment of a number of diseases such as glaucoma, osteoporosis, skin cancer, and asthma. Operations are held worldwide and are run via most subsidiaries, each with a business focus. The company's head office is located in Vantaa.
Read more on company pageKey Estimate Figures29.04.2022
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 78.8 | 95.7 | 115.9 |
growth-% | 29.07 % | 21.49 % | 21.03 % |
EBIT (adj.) | 24.5 | 29.1 | 37.2 |
EBIT-% (adj.) | 31.13 % | 30.39 % | 32.13 % |
EPS (adj.) | 0.74 | 0.87 | 1.08 |
Dividend | 0.34 | 0.46 | 0.57 |
Dividend % | 0.61 % | 1.64 % | 2.04 % |
P/E (adj.) | 75.13 | 31.78 | 25.74 |
EV/EBITDA | 57.67 | 23.58 | 18.39 |