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Research

Tietoevry: Strong finish to the year, future looks promising

By Joni GrönqvistAnalyst
Tietoevry
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Overall, the Q4 report was positive and above market expectations. The company's guidance indicates earnings growth of 5-17% in 2023, which is a strong level for Tietoevry's size. The company's good performance last year and outlook boosted confidence that the positive development will continue in the coming years. The valuation picture for the stock remains attractive from several perspectives (2023e adj. P/E 12x, DCF 37.0 and SOTP 36.0) and the divestments provide drivers to unwind the undervaluation.

Tietoevry operates in the IT sector. The company offers a range of software and cloud-based solutions, with the greatest specialist expertise in SaaS solutions. Competence is found in business processes, application services, infrastructure solutions, and front-end solutions. Customers are found in several markets on a global level. The company was formed in 2019 through a merger of Tieto and EVRY. The headquarters are located in Helsinki.

Read more on company page

Key Estimate Figures2023-02-15

202223e24e
Revenue2,928.13,082.43,228.8
growth-%3.7 %5.3 %4.8 %
EBIT (adj.)379.2410.5435.7
EBIT-% (adj.)13.0 %13.3 %13.5 %
EPS (adj.)2.352.572.75
Dividend1.451.501.55
Dividend %5.5 %8.2 %8.5 %
P/E (adj.)11.37.16.7
EV/EBITDA9.05.75.2

Forum discussions

Napkin math shows that this will be billed at a commendable hourly rate of €114.3 with the estimated budget and duration. That’s not how it’...
12/8/2025, 4:06 PM
by exai_
13
News Powered by Cision Tieto Tech Consulting valittiin Traficomin laadunvarmistus- ja... Liikenne- ja viestintävirasto Traficom on valinnut ...
12/8/2025, 7:12 AM
by Cadel
34
This time, Tieto seems to have received a reasonable price for the acquisition. My confidence improved enough that I still believe in a dividend...
12/6/2025, 8:22 AM
8
If Tieto announces in a press release (not a stock exchange release) that it has sold a company with a turnover of NOK 1,056 (less than 90 euros...
12/5/2025, 10:45 PM
by kimsku
6
This is being monitored by #Inders, but no analysis of the deal has been done by Inders ???
12/5/2025, 3:38 PM
by jukande
7
Reducing debt means that financing costs will decrease, so O’Sinkko will rise even with that measure + a portion of the sales proceeds purely...
12/1/2025, 11:25 AM
by Dissidentti
18
News Powered by Cision Tieto myy norjalaisen Bekk Consulting AS:n pääomasijoitusyhtiö Axcelille Tietoevry Oyj LEHDISTÖTIEDOTE 1.12.2025 klo ...
12/1/2025, 6:50 AM
by Cadel
30
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