(BITTI) Bittium - HE
Sector: Technology | Industry: Communication Equipment | Exchange: HE (Finland) | Market Cap: 1.177m EUR | Total Return: 329.5% in 12m
Avg Turnover: 2.65M
Qual. Beats: -1
Rev. Trend: 40.3%
Qual. Beats: 1
Warnings
Below Avwap Earnings
Tailwinds
Rs Leader, Idiosyncratic Leader
Bittium Oyj is a Finnish technology company specializing in secure communications and advanced biosignal processing. The firm operates through three primary segments: Defense & Security, Medical, and Engineering Services. Its product portfolio includes software-defined radios and encrypted smartphones for tactical use, alongside clinical-grade ECG and EEG monitoring devices for the healthcare sector.
The company utilizes a high-value engineering business model, integrating proprietary hardware with specialized software-as-a-service (SaaS) platforms for data management. In the defense sector, Bittium benefits from the increasing global demand for sovereign communication systems that operate independently of public infrastructure. The medical segment focuses on the growing remote patient monitoring market, leveraging wearable sensors and cloud-based diagnostic tools to identify cardiac and neurological abnormalities.
Investors can further examine the companys valuation metrics and historical performance data on ValueRay. Bittium serves a diverse global client base across the Americas, Europe, and Asia, providing end-to-end product development services from initial system architecture to full-scale production ramp-up.
- Defense & Security segment international expansion drives tactical communications revenue growth
- Medical segment ECG and EEG product certifications accelerate export sales
- Engineering Services demand fluctuates with R&D spending in telecommunications and IoT
- Operating margin improves through cost-efficiency programs and higher-value product mix
| Net Income: 24.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.17 > 0.02 and ΔFCF/TA 6.19 > 1.0 |
| NWC/Revenue: 49.61% < 20% (prev 58.80%; Δ -9.19% < -1%) |
| CFO/TA 0.19 > 3% & CFO 36.8m > Net Income 24.6m |
| Net Debt (995k) to EBITDA (34.7m): 0.03 < 3 |
| Current Ratio: 2.51 > 1.5 & < 3 |
| Outstanding Shares: last quarter (35.5m) vs 12m ago 0.03% < -2% |
| Gross Margin: 57.50% > 18% (prev 29.54%; Δ 27.96% > 0.5%) |
| Asset Turnover: 72.80% > 50% (prev 49.86%; Δ 22.94% > 0%) |
| Interest Coverage Ratio: 25.56 > 6 (EBIT TTM 23.0m / Interest Expense TTM 900k) |
| A: 0.34 (Total Current Assets 106.8m - Total Current Liabilities 42.6m) / Total Assets 190.4m |
| B: 0.48 (Retained Earnings 90.7m / Total Assets 190.4m) |
| C: 0.13 (EBIT TTM 23.0m / Avg Total Assets 177.8m) |
| D: 2.19 (Book Value of Equity 130.8m / Total Liabilities 59.6m) |
| Altman-Z'' = 6.94 = AAA |
| DSRI: 1.10 (Receivables 61.6m/35.8m, Revenue 129.4m/82.3m) |
| GMI: 0.51 (GM 29.54% / 57.50%) |
| AQI: 0.85 (AQ_t 0.34 / AQ_t-1 0.40) |
| SGI: 1.57 (Revenue 129.4m / 82.3m) |
| TATA: -0.06 (NI 24.6m - CFO 36.8m) / TA 190.4m) |
| Beneish M = -3.08 (Cap -4..+1) = AA |
As of June 19, 2026, the stock is trading at EUR 33.15 with a total of 52,724 shares traded.
Over the past week, the price has changed by -3.63%,
over one month by -6.22%,
over three months by -5.98% and
over the past year by +329.47%.
Bittium has no consensus analysts rating.
P/E Trailing = 55.25
P/E Forward = 48.3092
P/S = 9.8319
P/B = 9.1773
P/EG = 1.8283
Revenue TTM = 129.4m EUR
EBIT TTM = 23.0m EUR
EBITDA TTM = 34.7m EUR
Long Term Debt = 15.6m EUR (from longTermDebt, last quarter)
Short Term Debt = 3.08m EUR (from shortTermDebt, last quarter)
Debt = 21.9m EUR (from shortLongTermDebtTotal, last quarter) + Leases 2.03m
Net Debt = 995k EUR (calculated: Debt 21.9m - CCE 20.9m)
Enterprise Value = 1.18b EUR (1.18b + Debt 21.9m - CCE 20.9m)
Interest Coverage Ratio = 25.56 (Ebit TTM 23.0m / Interest Expense TTM 900k)
EV/FCF = 36.65x (Enterprise Value 1.18b / FCF TTM 32.2m)
FCF Yield = 2.73% (FCF TTM 32.2m / Enterprise Value 1.18b)
FCF Margin = 24.85% (FCF TTM 32.2m / Revenue TTM 129.4m)
Net Margin = 19.01% (Net Income TTM 24.6m / Revenue TTM 129.4m)
Gross Margin = 57.50% ((Revenue TTM 129.4m - Cost of Revenue TTM 55.0m) / Revenue TTM)
Gross Margin QoQ = 75.88% (prev 23.88%)
Tobins Q-Ratio = 6.19 (Enterprise Value 1.18b / Total Assets 190.4m)
Interest Expense / Debt = 4.11% (Interest Expense 900k / Debt 21.9m)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = 17.2m (EBIT 23.0m * (1 - 25.00%))
Current Ratio = 2.51 (Total Current Assets 106.8m / Total Current Liabilities 42.6m)
Debt / Equity = 0.17 (Debt 21.9m / totalStockholderEquity, last quarter 130.8m)
Debt / EBITDA = 0.03 (Net Debt 995k / EBITDA 34.7m)
Debt / FCF = 0.03 (Net Debt 995k / FCF TTM 32.2m)
Total Stockholder Equity = 116.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 13.84% (Net Income 24.6m / Total Assets 190.4m)
RoE = 21.16% (Net Income TTM 24.6m / Total Stockholder Equity 116.2m)
RoCE = 17.44% (EBIT 23.0m / Capital Employed (Equity 116.2m + L.T.Debt 15.6m))
RoIC = 11.94% (NOPAT 17.2m / Invested Capital 144.4m)
WACC = 6.56% (E(1.18b)/V(1.20b) * Re(6.62%) + D(21.9m)/V(1.20b) * Rd(4.11%) * (1-Tc(0.25)))
Discount Rate = 6.62% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -23.00 | Cagr: -0.26%
[DCF] Terminal Value 77.97% ; FCFF base≈26.4m ; Y1≈30.2m ; Y5≈44.5m
[DCF] Fair Price = 18.81 (EV 669.0m - Net Debt 995k = Equity 668.0m / Shares 35.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.59 | # QB: -1
Revenue Correlation: 40.29 | Revenue CAGR: 7.88% | SUE: 1.00 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.11 | Chg30d=-35.29% | Revisions=N/A | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.14 | Chg30d=-10.00% | Revisions=N/A | Analysts=2
EPS current Year (2026-12-31): EPS=0.71 | Chg30d=+0.00% | Revisions=N/A | GrowthEPS=+18.8% | GrowthRev=+19.0%
EPS next Year (2027-12-31): EPS=0.95 | Chg30d=+0.00% | Revisions=-20% | GrowthEPS=+33.7% | GrowthRev=+29.0%
[Analyst] Revisions Ratio: -20%