(ELISA) Elisa - HE
Sector: Communication Services | Industry: Telecom Services | Exchange: HE (Finland) | Market Cap: 6.083m EUR | Total Return: -13.7% in 12m
Avg Turnover: 5.05M
EPS Trend: -29.1%
Qual. Beats: 0
Rev. Trend: 92.1%
Qual. Beats: -1
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Elisa Oyj is a Finland-based integrated telecommunications and ICT provider serving consumer, corporate, and public administration segments. The company maintains a dual business model, combining traditional connectivity services like mobile and fixed-line subscriptions with a growing portfolio of international digital services. Its industrial software division, marketed under the Elisa IndustrIQ brand, focuses on supply chain management, automation, and data analytics for global manufacturing sectors.
In addition to core telecom operations, Elisa has expanded into energy-tech solutions, including AI-driven grid optimization and residential battery storage systems. This diversification reflects a broader trend in the telecommunications industry where mature operators seek higher-margin revenue streams through proprietary software-as-a-service (SaaS) and IoT platforms. Historically, integrated telecom providers in the Nordic region have prioritized network automation to maintain high EBITDA margins despite intense domestic competition.
Investors may find it useful to examine the companys long-term valuation trends on ValueRay.
Founded in 1882 and headquartered in Helsinki, Elisa operates as a dominant player in the Finnish market while scaling its specialized software solutions across Europe and internationally. The company’s infrastructure supports a wide range of digital entertainment, IT solutions, and distributed energy management systems.
- 5G subscription upgrades and digital services drive mobile service revenue growth
- Expansion of international software business Elisa IndustrIQ improves EBITDA margins
- High dividend payout ratio and stable cash flow attract defensive investors
- Intense Finnish market competition limits domestic mobile and fixed price increases
| Net Income: 343.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 2.04 > 1.0 |
| NWC/Revenue: 11.04% < 20% (prev -17.01%; Δ 28.06% < -1%) |
| CFO/TA 0.20 > 3% & CFO 698.5m > Net Income 343.4m |
| Net Debt (1.55b) to EBITDA (778.3m): 1.99 < 3 |
| Current Ratio: 1.50 > 1.5 & < 3 |
| Outstanding Shares: last quarter (160.7m) vs 12m ago 0.07% < -2% |
| Gross Margin: 31.05% > 18% (prev 64.40%; Δ -33.35% > 0.5%) |
| Asset Turnover: 66.46% > 50% (prev 66.41%; Δ 0.05% > 0%) |
| Interest Coverage Ratio: 9.40 > 6 (EBIT TTM 477.7m / Interest Expense TTM 50.8m) |
| A: 0.07 (Total Current Assets 748.4m - Total Current Liabilities 500.0m) / Total Assets 3.44b |
| B: 0.26 (Retained Earnings 910.4m / Total Assets 3.44b) |
| C: 0.14 (EBIT TTM 477.7m / Avg Total Assets 3.38b) |
| D: 0.64 (Book Value of Equity 1.34b / Total Liabilities 2.09b) |
| Altman-Z'' = 2.96 = A |
| DSRI: 1.03 (Receivables 562.0m/537.6m, Revenue 2.25b/2.21b) |
| GMI: 2.07 (GM 64.40% / 31.05%) |
| AQI: 0.99 (AQ_t 0.49 / AQ_t-1 0.49) |
| SGI: 1.02 (Revenue 2.25b / 2.21b) |
| TATA: -0.10 (NI 343.4m - CFO 698.5m) / TA 3.44b) |
| Beneish M = -2.04 (Cap -4..+1) = BB |
As of June 20, 2026, the stock is trading at EUR 38.08 with a total of 157,633 shares traded.
Over the past week, the price has changed by -5.05%,
over one month by -7.81%,
over three months by -11.17% and
over the past year by -13.65%.
Elisa has no consensus analysts rating.
P/E Trailing = 17.7009
P/E Forward = 15.1745
P/S = 2.7037
P/B = 4.6446
P/EG = 5.0695
Revenue TTM = 2.25b EUR
EBIT TTM = 477.7m EUR
EBITDA TTM = 778.3m EUR
Long Term Debt = 1.40b EUR (from longTermDebt, last quarter)
Short Term Debt = 71.1m EUR (from shortTermDebt, last quarter)
Debt = 1.68b EUR (from shortLongTermDebtTotal, last quarter) + Leases 122.8m
Net Debt = 1.55b EUR (calculated: Debt 1.68b - CCE 134.2m)
Enterprise Value = 7.63b EUR (6.08b + Debt 1.68b - CCE 134.2m)
Interest Coverage Ratio = 9.40 (Ebit TTM 477.7m / Interest Expense TTM 50.8m)
EV/FCF = 18.10x (Enterprise Value 7.63b / FCF TTM 421.7m)
FCF Yield = 5.52% (FCF TTM 421.7m / Enterprise Value 7.63b)
FCF Margin = 18.74% (FCF TTM 421.7m / Revenue TTM 2.25b)
Net Margin = 15.26% (Net Income TTM 343.4m / Revenue TTM 2.25b)
Gross Margin = 31.05% ((Revenue TTM 2.25b - Cost of Revenue TTM 1.55b) / Revenue TTM)
Gross Margin QoQ = 67.52% (prev -40.00%)
Tobins Q-Ratio = 2.22 (Enterprise Value 7.63b / Total Assets 3.44b)
Interest Expense / Debt = 3.02% (Interest Expense 50.8m / Debt 1.68b)
Taxrate = 19.51% (83.2m / 426.5m)
NOPAT = 384.5m (EBIT 477.7m * (1 - 19.51%))
Current Ratio = 1.50 (Total Current Assets 748.4m / Total Current Liabilities 500.0m)
Debt / Equity = 1.25 (Debt 1.68b / totalStockholderEquity, last quarter 1.34b)
Debt / EBITDA = 1.99 (Net Debt 1.55b / EBITDA 778.3m)
Debt / FCF = 3.68 (Net Debt 1.55b / FCF TTM 421.7m)
Total Stockholder Equity = 1.22b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.14% (Net Income 343.4m / Total Assets 3.44b)
RoE = 28.22% (Net Income TTM 343.4m / Total Stockholder Equity 1.22b)
RoCE = 18.28% (EBIT 477.7m / Capital Employed (Equity 1.22b + L.T.Debt 1.40b))
RoIC = 13.27% (NOPAT 384.5m / Invested Capital 2.90b)
WACC = 4.58% (E(6.08b)/V(7.77b) * Re(5.18%) + D(1.68b)/V(7.77b) * Rd(3.02%) * (1-Tc(0.20)))
Discount Rate = 5.18% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 44.95 | Cagr: 0.03%
[DCF] Terminal Value 77.97% ; FCFF base≈389.3m ; Y1≈446.3m ; Y5≈656.8m
[DCF] Fair Price = 51.90 (EV 9.88b - Net Debt 1.55b = Equity 8.33b / Shares 160.6m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -29.14 | EPS CAGR: -0.14% | SUE: -0.61 | # QB: 0
Revenue Correlation: 92.11 | Revenue CAGR: 1.53% | SUE: -2.48 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.60 | Chg30d=+0.00% | Revisions=-33% | Analysts=6
EPS next Quarter (2026-09-30): EPS=0.68 | Chg30d=-0.23% | Revisions=-33% | Analysts=6
EPS current Year (2026-12-31): EPS=2.46 | Chg30d=+0.17% | Revisions=+0% | GrowthEPS=+4.4% | GrowthRev=+1.1%
EPS next Year (2027-12-31): EPS=2.59 | Chg30d=-0.02% | Revisions=-23% | GrowthEPS=+5.1% | GrowthRev=+2.3%
[Analyst] Revisions Ratio: -33%