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WithSecure
1.026 EUR -2.84%WithSecure operates in the IT sector. The company specializes in cyber security solutions. Today, the company provides IT solutions that are used to manage computer viruses and other potential IT threats within data, mobile and cloud services. The company's services are mainly offered to business customers and larger institutions. Operations are held around the Nordic and European markets. The head office is in Helsinki.
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Financial calendar
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Siilasmaa Risto | 34.1 % | 34.1 % |
Nordea Nordic Small Cap Fund | 6.4 % | 6.4 % |
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Insider Transactions
Insider | Date | Total value |
---|---|---|
Scott Reininga | 08.12.2022 | 99,999EUR |
Antti Koskela | 09.09.2022 | 100,000EUR |
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Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 220.2 | 130.0 | 134.7 | 142.8 | 151.3 | 160.1 | 169.6 | 179.2 |
growth-% | 1.3 % | -41.0 % | 3.6 % | 6.0 % | 6.0 % | 5.8 % | 5.9 % | 5.7 % |
EBITDA | 35.7 | -16.6 | -29.9 | -25.1 | 3.2 | 8.1 | 13.8 | 17.5 |
EBIT (adj.) | 22.9 | -26.8 | -36.8 | -26.3 | -6.5 | -1.0 | 4.7 | 8.1 |
EBIT | 19.7 | -30.1 | -42.6 | -43.9 | -8.8 | -3.4 | 2.3 | 7.2 |
Profit before taxes | 16.5 | -30.4 | -44.2 | -43.7 | -8.3 | -3.4 | 2.2 | 7.1 |
Net income | 12.9 | -25.4 | -38.2 | -40.0 | -6.6 | -2.7 | 2.0 | 6.4 |
EPS (adj.) | 0.10 | -0.13 | -0.19 | -0.13 | -0.02 | -0.00 | 0.03 | 0.04 |
growth-% | 193.0 % | -234.3 % | 64.0 % | |||||
Dividend | 0.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Dividend ratio | 49.1 % |
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Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 16.2 % | -12.8 % | -22.2 % | -17.6 % | 2.1 % | 5.1 % | 8.1 % | 9.7 % |
EBIT-% (adj.) | 10.4 % | -20.6 % | -27.3 % | -18.4 % | -4.3 % | -0.6 % | 2.8 % | 4.5 % |
EBIT-% | 8.9 % | -23.1 % | -31.6 % | -30.7 % | -5.8 % | -2.1 % | 1.4 % | 4.0 % |
ROE | 16.2 % | -28.6 % | -32.4 % | -32.9 % | -6.7 % | -2.8 % | 2.1 % | 6.5 % |
ROI | 16.4 % | -24.5 % | -30.7 % | -32.5 % | -8.0 % | -3.3 % | 2.3 % | 6.7 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 1.55 | 2.01 | 1.37 | 1.04 | 1.03 | 1.03 | 1.03 | 1.03 |
Shares | 158.1 | 158.4 | 174.5 | 174.5 | 176.0 | 176.0 | 176.0 | 176.0 |
Market cap | 244.9 | 317.7 | 239.6 | 180.8 | 180.6 | 180.6 | 180.6 | 180.6 |
Enterprise value | 233.4 | 293.1 | 183.7 | 157.9 | 165.6 | 165.8 | 161.7 | 154.8 |
EV/S | 1.1 | 2.3 | 1.4 | 1.1 | 1.1 | 1.0 | 1.0 | 0.9 |
EV/EBITDA | 6.5 | - | - | - | 51.8 | 20.4 | 11.7 | 8.9 |
EV/EBIT (adj.) | 10.2 | - | - | - | - | - | 34.1 | 19.2 |
EV/EBIT | 11.9 | - | - | - | - | - | 69.1 | 21.5 |
P/E (adj.) | 16.1 | - | - | - | - | - | 40.9 | 24.9 |
P/E | 19.0 | - | - | - | - | - | 89.6 | 28.3 |
P/B | 3.0 | 3.3 | 1.7 | 1.8 | 1.9 | 1.9 | 1.9 | 1.8 |
P/S | 1.1 | 2.4 | 1.8 | 1.3 | 1.2 | 1.1 | 1.1 | 1.0 |
Dividend yield | 2.6 % | |||||||
Equity ratio | 52.5 % | 59.6 % | 79.0 % | 73.3 % | 75.4 % | 71.7 % | 70.5 % | 69.8 % |
Gearing ratio | -14.1 % | -25.8 % | -39.9 % | -22.2 % | -15.5 % | -15.8 % | -19.7 % | -25.3 % |
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Quarter data
Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24e | Q3/24e | Q4/24e | 2024e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 34.8 | 34.8 | 38.0 | 142.8 | 36.2 | 37.0 | 37.5 | 40.6 | 151.3 |
EBITDA | -6.5 | -2.5 | -5.4 | -25.1 | 0.1 | -1.0 | 1.7 | 2.4 | 3.2 |
EBIT | -9.6 | -11.8 | -8.6 | -43.9 | -2.9 | -4.0 | -1.3 | -0.6 | -8.8 |
Profit before taxes | -9.2 | -11.7 | -8.9 | -43.7 | -2.6 | -3.9 | -1.2 | -0.5 | -8.3 |
Net income | -6.9 | -10.4 | -11.7 | -40.0 | -2.2 | -3.1 | -0.9 | -0.4 | -6.6 |
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![WithSecure: A cybersecurity turnaround](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/123be174-970a-4077-bb45-e975a62cef51.png)
Inside information: Antti Koskela appointed as President and CEO of WithSecure
![WithSecure Q2 Interim Report](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/f38dc823-1027-48db-817d-ce24ec8951e0.png)
WithSecure Q2 Interim Report
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WithSecure extensive report: The European alternative for corporate cybersecurity
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