CapMan: First batch of harvest reaped
The Q1 report offered a good start considering the strong earnings improvement expectations for the rest of the year and the company’s story progressing nicely. Relative to the estimated earnings improvement, the share is still not especially expensive and this together with a strong dividend yield keeps the share’s return/risk ratio sufficient. We do, however, point out that the current share price level is difficult to justify without the earnings improvement materializing and there is no room for errors regarding the earnings improvement.
CapMan
CapMan is an investment company. The vision is to be a long-term owner and create added value for the shareholders in the long term. CapMan mainly invests in medium-sized unlisted companies, properties and infrastructure facilities around the Nordic market. Furthermore, the company offers asset management, purchasing activities as well as analysis, reporting and back office services. CapMan was founded in 1989 and its headquarters are in Helsinki.
Read more on company pageKey Estimate Figures2021-04-29
2020 | 21e | 22e | |
---|---|---|---|
Revenue | 43.0 | 57.8 | 68.8 |
growth-% | -12.22 % | 34.34 % | 19.17 % |
EBIT (adj.) | 12.3 | 39.7 | 44.3 |
EBIT-% (adj.) | 28.70 % | 68.66 % | 64.34 % |
EPS (adj.) | 0.03 | 0.19 | 0.21 |
Dividend | 0.14 | 0.15 | 0.16 |
Dividend % | 6.05 % | 7.28 % | 7.77 % |
P/E (adj.) | 70.13 | 10.83 | 9.83 |
EV/EBITDA | 28.69 | 8.98 | 8.17 |