BITTI Stock Analysis: Bittium | HE
Communication Equipment | HE, Finland | Market Cap: 1.166m EUR | 12M Return: 64.1% | FI0009007264 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.78M
Qual. Beats: 2
Rev. Trend: 93.7%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Bittium Oyj is a Finnish provider of communications and connectivity solutions, operating through three segments: Defense & Security, Medical, and Engineering Services. The company sells rugged tactical smartphones, encrypted communications software, and software-defined radio-based tactical broadband networks to defense and security customers, while its medical business offers ECG monitors, Holter analysis software, EEG amplifiers, and cloud-based data management tools for cardiac and neurological diagnostics. It also provides embedded engineering services covering product design, prototyping, testing, and production ramp-up.
Bittium serves end markets including defense and security, industrial IoT, medical and healthcare, telecommunications, and satellite and wireless communications. The company is headquartered in Oulu, Finland, a city historically associated with wireless and mobile communications technology development. Originally founded in 1985 as Elektrobit Corporation, the company adopted the Bittium name in July 2015 following the divestment of its Automotive business.
- NATO defense spending surge boosts Tactical Communications product orders
- Medical ECG monitoring sales scale as Faros and OmegaSnap adoption expands
- Engineering Services revenue pressured by telecom and IoT capex cuts
| Net Income: 31.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.31 > 0.02 and ΔFCF/TA 7.43 > 1.0 |
| NWC/Revenue: 40.22% < 20% (prev 44.05%; Δ -3.83% < -1%) |
| CFO/TA 0.33 > 3% & CFO 64.4m > Net Income 31.1m |
| Net Debt (-25.7m) to EBITDA (59.9m): -0.43 < 3 |
| Current Ratio: 2.35 > 1.5 & < 3 |
| Outstanding Shares: last quarter (35.5m) vs 12m ago 0.15% < -2% |
| Gross Margin: 58.80% > 18% (prev 42.34%; Δ 16.46% > 0.5%) |
| Asset Turnover: 91.49% > 50% (prev 61.85%; Δ 29.63% > 0%) |
| Interest Coverage Ratio: 36.50 > 6 (EBIT TTM 32.9m / Interest Expense TTM 900k) |
| A: 0.33 (Total Current Assets 114.6m - Total Current Liabilities 48.7m) / Total Assets 197.8m |
| B: 0.47 (Retained Earnings 93.1m / Total Assets 197.8m) |
| C: 0.18 (EBIT TTM 32.9m / Avg Total Assets 179.1m) |
| D: 2.07 (Book Value of Equity 133.3m / Total Liabilities 64.5m) |
| Altman-Z'' = 7.12 = AAA |
| DSRI: 0.88 (Receivables 42.2m/28.9m, Revenue 163.8m/99.2m) |
| GMI: 0.72 (GM 42.34% / 58.80%) |
| AQI: 0.78 (AQ_t 0.32 / AQ_t-1 0.41) |
| SGI: 1.65 (Revenue 163.8m / 99.2m) |
| TATA: -0.17 (NI 31.1m - CFO 64.4m) / TA 197.8m) |
| Beneish M = -3.06 (Cap -4..+1) = AA |
As of November 14, 2026, the stock is trading at EUR 32.10 with a total of 68,424 shares traded. Over the past week, the price has changed by -2.13%, over one month by -8.81%, over three months by -18.11% and over the past year by +64.08%.
Current recommended Stop Loss: 29.90 (which is 6.9% or 1.1 ATR below the current price).
Bittium has no consensus analysts rating.
P/E Trailing = 42.5974
P/E Forward = 30.6748
P/S = 8.6381
P/B = 8.9201
P/EG = 1.8283
Revenue TTM = 163.8m EUR
EBIT TTM = 32.9m EUR
EBITDA TTM = 59.9m EUR
Long Term Debt = 15.6m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 3.20m EUR (from shortTermDebt, last quarter)
Debt = 20.8m EUR (from shortLongTermDebtTotal, last quarter) + Leases 2.03m
Net Debt = -25.7m EUR (calculated: Debt 20.8m - CCE 46.5m)
Enterprise Value = 1.14b EUR (1.17b + Debt 20.8m - CCE 46.5m)
Interest Coverage Ratio = 36.50 (Ebit TTM 32.9m / Interest Expense TTM 900k)
EV/FCF = 18.70x (Enterprise Value 1.14b / FCF TTM 61.0m)
FCF Yield = 5.35% (FCF TTM 61.0m / Enterprise Value 1.14b)
FCF Margin = 37.22% (FCF TTM 61.0m / Revenue TTM 163.8m)
Net Margin = 18.95% (Net Income TTM 31.1m / Revenue TTM 163.8m)
Gross Margin = 58.80% ((Revenue TTM 163.8m - Cost of Revenue TTM 67.5m) / Revenue TTM)
Gross Margin QoQ = 14.34% (prev 32.64%)
Tobins Q-Ratio = 5.76 (Enterprise Value 1.14b / Total Assets 197.8m)
Interest Expense / Debt = 4.32% (Interest Expense 900k / Debt 20.8m)
Taxrate = 5.32% (1.68m / 31.5m)
NOPAT = 31.1m (EBIT 32.9m * (1 - 5.32%))
Current Ratio = 2.35 (Total Current Assets 114.6m / Total Current Liabilities 48.7m)
Debt / Equity = 0.16 (Debt 20.8m / totalStockholderEquity, last quarter 133.3m)
Debt / EBITDA = -0.43 (Net Debt -25.7m / EBITDA 59.9m)
Debt / FCF = -0.42 (Net Debt -25.7m / FCF TTM 61.0m)
Total Stockholder Equity = 132.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 17.34% (Net Income 31.1m / Total Assets 197.8m)
RoE = 23.51% (Net Income TTM 31.1m / Total Stockholder Equity 132.1m)
RoCE = 22.24% (EBIT 32.9m / Capital Employed (Equity 132.1m + L.T.Debt 15.6m))
RoIC = 21.58% (NOPAT 31.1m / Invested Capital 144.1m)
WACC = 6.80% (E(1.17b)/V(1.19b) * Re(6.85%) + D(20.8m)/V(1.19b) * Rd(4.32%) * (1-Tc(0.05)))
Discount Rate = 6.85% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 41.73 | Cagr: 0.08%
[DCF] Terminal Value 77.97% ; FCFF base≈51.6m ; Y1≈59.2m ; Y5≈87.1m
[DCF] Fair Price = 37.58 (EV 1.31b - Net Debt -25.7m = Equity 1.34b / Shares 35.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 4.0 | # QB: 2
Revenue Correlation: 93.67 | Revenue CAGR: 28.46% | SUE: 4.0 | # QB: 1
EPS current Quarter (2027-03-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=0.75 | Chg30d=+12.29% | Revisions=+50% | GrowthEPS=+24.4% | GrowthRev=+28.5%
EPS next Year (2027-12-31): EPS=0.96 | Chg30d=+2.13% | Revisions=+0% | GrowthEPS=+28.6% | GrowthRev=+21.1%
[Analyst] Revisions Ratio: +38% (up=4, down=1)