Incap: Unleashed performance
In our view, the strong earnings growth that will continue well into next year still gives Incap a slightly higher expected return for the coming year than our required return, even though the valuation of the stock is quite reasonable in relation to its risks.
Incap operates in the industrial sector. The company supplies equipment and services for industrial players, where the range includes PCB assembly, system integration, box building integration, design validation, and inspection methods. The largest operations are found in the Nordic, Baltic and Asian regions. The company was originally established in 1985 and is headquartered in Helsinki.
Read more on company pageKey Estimate Figures2022-07-29
| 2021 | 22e | 23e | |
|---|---|---|---|
| Revenue | 169.8 | 244.8 | 266.8 |
| growth-% | 59.4 % | 44.2 % | 9.0 % |
| EBIT (adj.) | 26.8 | 36.1 | 40.4 |
| EBIT-% (adj.) | 15.8 % | 14.7 % | 15.1 % |
| EPS (adj.) | 0.74 | 0.94 | 1.09 |
| Dividend | 0.16 | 0.18 | 0.20 |
| Dividend % | 1.0 % | 2.4 % | 2.7 % |
| P/E (adj.) | 21.2 | 7.9 | 6.8 |
| EV/EBITDA | 15.8 | 5.7 | 4.6 |
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