Finnish Software Undervalued over 20% based on DCF

Tieto Oyj

Market Cap: €2.2b

Operates as a software and digital engineering company in Norway, Sweden, Finland, and internationally.

Gofore Oyj

Market Cap: €222.4m

Provides digital transformation consultancy services for private and public sectors in Finland and internationally.

Digia Oyj

Market Cap: €152.2m

Operates as a software and service company in Finland, Sweden, and internationally.

Tecnotree Oyj

Market Cap: €125.4m

Provides telecommunication IT solutions for charging, billing, customer care, and messaging and content services in Europe, the Americas, the Middle East, Africa, and the Asia Pacific.

SSH Communications Security Oyj

Market Cap: €119.5m

Operates as a cybersecurity company for humans, systems, and networks in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.

Lemonsoft Oyj

Market Cap: €86.3m

A software company, designs, develops, and delivers enterprise resource planning software solutions in Finland and internationally.

Loihde Oyj

Market Cap: €73.2m

Through its subsidiaries, provides digital development and security solutions in Finland.

Witted Megacorp Oyj

Market Cap: €21.0m

Develops and sells software development solutions in Finland and internationally.

Netum Group Oyj

Market Cap: €13.8m

Operates as an IT services company in Finland.

QPR Software Oyj

Market Cap: €11.0m

Provides services and software tools for developing business processes and enterprise architecture in Finland, rest of Europe, Russia, Turkey, and internationally.