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Research

Digital Workforce: A clear turn is expected compared to H2

By Joni GrönqvistAnalyst
Digital Workforce
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The big picture of Digital Workforce's H2 was already known and revenue decreased clearly and the result was slightly in the red. However, the company was confident in the current year and guided that revenue and earnings would grow. In our view, however, the challenging market brings clear uncertainty to the turnaround. In addition, the company’s strategically important OutSmart platform and growth markets are still in a relatively early stage and require more proof to rely more on the attractive long-term growth story. With our forecasts, the stock's valuation picture (2024e EV/S 0.8x, SOTP EUR 3.6) supports caution in the short term.

Digital Workforce is a service provider specializing in industrial-scale process automation services. The company's service offering covers the entire intelligent automation lifecycle: design and consulting, development and deployment, cloud-based platform, support and maintenance, and further development. The company offers services and solutions to customers in various industries, including finance, healthcare, industry, logistics, and various public actors.

Read more on company page

Key Estimate Figures2024-02-28

202324e25e
Revenue24.925.627.8
growth-%-2.2 %2.9 %8.5 %
EBIT (adj.)-0.00.51.7
EBIT-% (adj.)-0.2 %2.1 %5.9 %
EPS (adj.)0.010.060.15
Dividend0.000.000.00
Dividend %
P/E (adj.)375.039.016.0
EV/EBITDAneg.16.75.7

Forum discussions

It’s good that DWF is shaking up and educating the market. Digital Workforce Services Plc is organizing an investor day on March 19, 2026, from...
3/5/2026, 6:49 AM
by Sheikki
6
Digital Workforce’s number of NHS trust customers seems to be growing at a brisk pace. In the 2025 financial results release on February 18,...
3/4/2026, 11:39 AM
by Sheikki
6
I wonder if it is possible to deduce from these recent deals whether these agent-based implementations were built on UiPath’s platform or something...
2/24/2026, 7:35 AM
by sillinkutoja
0
A reference for the insurance sector. sttinfo.fi Suuri vakuutusyhtiö ottaa käyttöön Digital Workforcen toimittaman... Lehdistötiedote — 24.2...
2/24/2026, 7:02 AM
by Mainari
14
Bro, I was just about to come and wonder if this wasn’t a wildly good investment, but I’m not wondering so much anymore, thanks to your post...
2/20/2026, 7:43 PM
by Sijoittaja-alokas
7
I’ve been following DWF with half an eye for a while, as this activity raises so many questions about what the goal is. A while ago, ambitious...
2/20/2026, 8:07 AM
by Karhu Hylje
10
New strategic partnership for the insurance sector: Inderes Sisäpiiritieto: Digital Workforce ja Davies ovat solmineet strategisen... 20.2.2026...
2/20/2026, 7:48 AM
by Karhu Hylje
10
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