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Research

Digital Workforce: Shifting focus from growth to profitability

By Joni GrönqvistAnalyst
Digital Workforce
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Digital Workforce's revenue growth was well below expectations in H1, pressured by a mature market. However, the earnings level was in line with expectations. The company is now focusing primarily on profitability, which is logical in the current uncertain market environment. In the current market environment, we expect more moderate but profitable growth in the coming years. In our view, the valuation of the stock is attractive from several perspectives (2024e EV/S 1.1x, EV/EBIT 15x and DCF 6.7), especially given the unfinished profitability turnaround.

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 Figures2023-08-23

202223e24e
Revenue25.526.128.9
growth-%13.9 %2.6 %10.4 %
EBIT (adj.)-1.30.52.1
EBIT-% (adj.)-5.0 %2.1 %7.4 %
EPS (adj.)-0.150.050.17
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.45.014.5
EV/EBITDAneg.21.94.4

Forum discussions

It’s been a wild start to the year commercially. 14.1: North Savo and Pirkanmaa wellbeing services counties acquire Finland’s leading automation...
15 hours ago
8
Good question, but it was published as insider information, i.e., significant news. A glitch in the publishing system or something similar? ...
18 hours ago
by Sheikki
2
Great stuff! I wonder why this notice is only available on their website?
18 hours ago
by Buster
1
Great 2.6M€ one-year contract from an old customer in the USA. Good work!! Digital Workforce – 9 Apr 26 Sisäpiiritieto: Digital Workforce Services...
19 hours ago
by Sheikki
10
New NHS client announced. LinkedIn #nhs #automation #digitaltransformation #healthcareinnovation #rpa... Delighted to share another fantastic...
4/8/2026, 5:48 PM
by Sheikki
8
A couple of new NHS contract renewals, and Jussi did say that customer retention is 100%. LinkedIn #nhs #epr #frontlineproductivity #digitaltransforma...
3/31/2026, 3:37 PM
by Sheikki
8
According to ChatGPT, the 1.4 million deal described by Vasama: The description best fits the Mass General Brigham organization. Reasons: Located...
3/30/2026, 5:53 PM
by Jimmy
7
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