View ValuationMultitude 将来の成長Future 基準チェック /26Multitude収益と収益がそれぞれ年間9.6%と13.6%増加すると予測されています。主要情報9.6%収益成長率n/aEPS成長率Consumer Finance 収益成長17.4%収益成長率13.6%将来の株主資本利益率n/aアナリストカバレッジLow最終更新日22 Apr 2026今後の成長に関する最新情報お知らせ • Mar 13Multitude AG Provides Earnings Guidance for the Year 2026, 2027 and 2028Multitude AG provided earnings guidance for the year 2026, 2027 and 2028. The Group’s capital markets guidance is based on consolidated net profit, targeting EUR 30 million in 2026 and 20% annual growth in 2027 and 2028.Price Target Changed • Nov 13Price target increased by 7.1% to €10.93Up from €10.20, the current price target is provided by 1 analyst. New target price is 57% above last closing price of €6.94. Stock is up 51% over the past year. The company posted earnings per share of €0.66 last year.Price Target Changed • Aug 22Price target increased by 7.1% to €10.58Up from €9.88, the current price target is provided by 1 analyst. New target price is 47% above last closing price of €7.19. Stock is up 36% over the past year. The company posted earnings per share of €0.66 last year.Price Target Changed • Oct 15Price target increased by 15% to €9.73Up from €8.47, the current price target is an average from 4 analysts. New target price is 103% above last closing price of €4.80. Stock is up 51% over the past year. The company is forecast to post earnings per share of €0.67 for next year compared to €0.51 last year.Major Estimate Revision • May 30Consensus EPS estimates fall by 16%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.829 to €0.692 per share. Revenue forecast steady at €234.2m. Net income forecast to grow 46% next year vs 28% growth forecast for Consumer Finance industry in Germany. Consensus price target up from €8.47 to €8.97. Share price rose 10% to €5.94 over the past week.お知らせ • May 18Multitude SE Confirms Earnings Guidance for the Year 2024Multitude SE confirmed earnings guidance for the year 2024. For the year, the company expected to achieve its EBIT guidance of EUR 67.5 million for 2024, which corresponds to an increase in EBIT of around 50% compared to 2023.すべての更新を表示Recent updatesお知らせ • Apr 25Multitude AG Approves Ordinary Dividend for the Financial Year 2025, Payable on May 4, 2026Multitude AG at its Annual General Meeting held on April 24, 2026 approved an ordinary dividend of EUR 0.55 per share for the financial year 2025, with total available earnings of EUR 71,289,106. The dividend will be paid on May 4, 2026, to shareholders net of applicable withholding tax. The dividend record date is April 28, 2026.お知らせ • Apr 23Multitude Group Announces Executive Changes in Wholesale BankingMultitude AG announced that Wholesale Banking Tribe CEO Alain Nydegger had decided by mutual agreement to step down from his role effective April 30, 2026. Following the successful ramp-up of the business unit, Mr. Nydegger left at his own request to pursue entrepreneurial ventures outside of the Multitude Group. Multitude CEO Antti Kumpulainen, who was actively involved in the establishment of the Wholesale Banking business unit, assumed the responsibilities of Business unit CEO during the interim period and ensured continuity and a seamless transition until a successor was appointed.Upcoming Dividend • Apr 20Upcoming dividend of €0.55 per shareEligible shareholders must have bought the stock before 27 April 2026. Payment date: 04 May 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 8.3%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.7%).New Risk • Mar 27New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change).お知らせ • Mar 27Multitude AG, Annual General Meeting, Apr 24, 2026Multitude AG, Annual General Meeting, Apr 24, 2026, at 10:00 W. Europe Standard Time. Location: brandschenkestrasse 24, 8027, zurich, Switzerlandお知らせ • Mar 26Multitude AG Proposes Ordinary Dividend for Financial Year 2025, Payable on May 4, 2026Multitude AG proposed an ordinary dividend distribution of EUR 0.55 per share (i.e. a total of EUR 11,776,677) for financial year 2025 at the AGM to be held on April 24, 2026. If the proposal is approved, the dividend will be paid on May 4, 2026 net of applicable withholding tax.Reported Earnings • Mar 15Full year 2025 earnings releasedFull year 2025 results: Revenue: €137.2m (up 8.6% from FY 2024). Net income: €26.6m (up 87% from FY 2024). Profit margin: 19% (up from 11% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Finance industry in Europe.お知らせ • Mar 13Multitude AG Provides Earnings Guidance for the Year 2026, 2027 and 2028Multitude AG provided earnings guidance for the year 2026, 2027 and 2028. The Group’s capital markets guidance is based on consolidated net profit, targeting EUR 30 million in 2026 and 20% annual growth in 2027 and 2028.お知らせ • Dec 19+ 4 more updatesMultitude AG to Report First Half, 2026 Results on Aug 13, 2026Multitude AG announced that they will report first half, 2026 results on Aug 13, 2026Reported Earnings • Nov 18Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: €35.1m (up 9.4% from 3Q 2024). Net income: €8.26m (up 113% from 3Q 2024). Profit margin: 24% (up from 12% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Finance industry in Europe.Price Target Changed • Nov 13Price target increased by 7.1% to €10.93Up from €10.20, the current price target is provided by 1 analyst. New target price is 57% above last closing price of €6.94. Stock is up 51% over the past year. The company posted earnings per share of €0.66 last year.Reported Earnings • Aug 24Second quarter 2025 earnings released: EPS: €0.28 (vs €0.13 in 2Q 2024)Second quarter 2025 results: EPS: €0.28 (up from €0.13 in 2Q 2024). Revenue: €35.8m (up 17% from 2Q 2024). Net income: €6.92m (up 147% from 2Q 2024). Profit margin: 19% (up from 9.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Finance industry in Europe. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth.Price Target Changed • Aug 22Price target increased by 7.1% to €10.58Up from €9.88, the current price target is provided by 1 analyst. New target price is 47% above last closing price of €7.19. Stock is up 36% over the past year. The company posted earnings per share of €0.66 last year.Reported Earnings • May 23First quarter 2025 earnings released: EPS: €0.28 (vs €0.072 in 1Q 2024)First quarter 2025 results: EPS: €0.28 (up from €0.072 in 1Q 2024). Revenue: €34.8m (up 28% from 1Q 2024). Net income: €7.23m (up 366% from 1Q 2024). Profit margin: 21% (up from 5.7% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Finance industry in Europe. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth.お知らせ • May 15Multitude AG Approves Board and Committee AppointmentsMultitude AG announced that at its AGM held on 13 May 2025, the shareholders approved election of Mika Stahlberg as a new member of the Board of Directors, each one for a term until the closing of the next Annual General Meeting. Also, elected Lea Liigus as members of the People and Culture Committee.Upcoming Dividend • May 07Upcoming dividend of €0.44 per shareEligible shareholders must have bought the stock before 14 May 2025. Payment date: 16 May 2025. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.4%). In line with average of industry peers (4.0%).Valuation Update With 7 Day Price Move • Apr 21Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €5.78, the stock trades at a trailing P/E ratio of 5.9x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total returns to shareholders of 74% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €11.15 per share.Reported Earnings • Apr 04Full year 2024 earnings releasedFull year 2024 results: Revenue: €126.1m (up 5.9% from FY 2023). Net income: €20.2m (up 83% from FY 2023). Profit margin: 16% (up from 9.3% in FY 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Finance industry in Europe.お知らせ • Apr 04Multitude AG announces Annual dividend, payable on May 16, 2025Multitude AG announced Annual dividend of EUR 0.2400 per share payable on May 16, 2025, ex-date on May 14, 2025 and record date on May 15, 2025.Board Change • Feb 04Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Kristiina Leppanen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Jan 29Multitude AG Announces Management ChangesMultitude AG announced that Mr. Clemens Krause, Chief Risk Officer, will retire as of 31 March 2025, after serving the company since 2012. The Group thanks him for his exceptional contributions and wishes him a fulfilling retirement. Mr. Adam Jezierski will join the Leadership Team as Chief Credit Risk Officer on 3 February 2025 and succeed Mr. Krause. With extensive expertise in credit risk management, Mr. Jezierski is expected to strengthen the Group’s risk oversight capabilities. Leadership Departures – Mr. Lasse Mäkelä, Chief Strategy and IR Officer, is stepping down from the Leadership Team. Current Leadership Team of Multitude Group: The Leadership Team of Multitude Group now comprises: Mr. Antti Kumpulainen – CEO, Mr. Bernd Egger – Chief Financial Officer, Mr. Kristjan Kajakas – Tribe CEO, Ferratum, Mr. Mantvydas Stareika – Tribe CEO, CapitalBox, Mr. Alain Nydegger – Tribe CEO, Wholesale Banking, Mr. Adam Jezierski – Chief Credit Risk Officer, Mr. Kornel Kabele – Chief Technology Officer, Ms. Lea Liigus – Chief Legal & Compliance Officer, Mr. Adam Tönning – Chief Financial Planning Officer, and Mr. Shaun Vella – Chief HR Officer. Board of Directors Updates: Mr. Goutam Challagalla will step down on 1 February 2025. Mrs. Kristiina Leppänen will step down at the end of the 2025 Annual General Meeting (AGM). Both individuals will be proposed for election to the Board of Directors of Multitude Bank p.l.c., pending regulatory approval. Updated Composition of the Board of Directors of Multitude AG (as of 1 February 2025): Mr. Ari Tiukkanen – Chairman (Independent), Mrs. Marion Khüny – Independent Member, Mrs. Kristiina Leppänen – Independent Member, Mr. Jorma Jokela – Non-Independent Member, and Mrs. Lea Liigus – Executive Director, Non-Independent.お知らせ • Jan 28Multitude AG Announces CEO ChangesMultitude AG effective 1 January 2025, Mr. Antti Kumpulainen has assumed the role of CEO of Multitude Group, in addition to his existing position as CEO of Multitude Bank p.l.c. As previously announced, Mr. Jorma Jokela stepped down as CEO and Leadership Team member at the end of 2024. Moving forward, he will focus on strategic initiatives, partnerships, acquisitions, and talent development in a full-time capacity. Mr. Jokela will also continue to serve on the Board of Directors of both Multitude AG and Multitude Bank p.l.c.お知らせ • Dec 13+ 4 more updatesMultitude P.L.C. to Report Fiscal Year 2024 Results on Apr 17, 2025Multitude P.L.C. announced that they will report fiscal year 2024 results on Apr 17, 2025New Risk • Nov 13New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €92.2m (US$97.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (56% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (€92.2m market cap, or US$97.9m).分析記事 • Oct 20Investors Still Aren't Entirely Convinced By Multitude P.L.C.'s (ETR:E4I) Earnings Despite 26% Price JumpThose holding Multitude P.L.C. ( ETR:E4I ) shares would be relieved that the share price has rebounded 26% in the last...Valuation Update With 7 Day Price Move • Oct 15Investor sentiment improves as stock rises 13%After last week's 13% share price gain to €4.80, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total returns to shareholders of 5.7% over the past three years.Price Target Changed • Oct 15Price target increased by 15% to €9.73Up from €8.47, the current price target is an average from 4 analysts. New target price is 103% above last closing price of €4.80. Stock is up 51% over the past year. The company is forecast to post earnings per share of €0.67 for next year compared to €0.51 last year.New Risk • Sep 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (56% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change).Valuation Update With 7 Day Price Move • Sep 23Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to €4.31, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total loss to shareholders of 8.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.40 per share.Reported Earnings • Aug 28Second quarter 2024 earnings released: EPS: €0.11 (vs €0.18 in 2Q 2023)Second quarter 2024 results: EPS: €0.11. Revenue: €30.8m (up 1.8% from 2Q 2023). Net income: €5.75m (up 45% from 2Q 2023). Profit margin: 19% (up from 13% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Consumer Finance industry in Europe.Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to €4.92, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total returns to shareholders of 4.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.56 per share.Buy Or Sell Opportunity • Jul 17Now 20% undervaluedOver the last 90 days, the stock has risen 18% to €6.14. The fair value is estimated to be €7.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 117% in 2 years. Earnings are forecast to grow by 98% in the next 2 years.お知らせ • Jun 26Multitude SE (XTRA:FRU) commences an Equity Buyback for 2,172,396 shares, representing 10% of its issued share capital, under the authorization approved on April 25, 2024.Multitude SE (XTRA:FRU) commences share repurchases on June 25, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2024. As per the mandate, the company is authorized to repurchase up to 2,172,396 shares, representing 10% of its issued share capital. The shares may be repurchased at the prevailing market price on the date of repurchase. The program will be funded using the company’s unrestricted equity. The shares to be repurchased may be used to meet obligations arising from the company’s incentive schemes or as a means of payment in acquisitions and other similar arrangements relating to the company’s business. The authorization will be valid until the earliest of the transfer of the registered office of the company from Finland to Malta pursuant to the transfer proposal approved by the Company’s Board of Directors on January 17, 2024; or the end of the next Annual General Meeting to be held in the year 2025; or June 30, 2025. As of March 28, 2024, the company had 21,723,960 issued and outstanding shares and had 80,786 own shares. On 16 May 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, for a total of €0.7 million. The repurchases will commence on May 17, 2024, and the program will end by June 30, 2024.Major Estimate Revision • May 30Consensus EPS estimates fall by 16%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.829 to €0.692 per share. Revenue forecast steady at €234.2m. Net income forecast to grow 46% next year vs 28% growth forecast for Consumer Finance industry in Germany. Consensus price target up from €8.47 to €8.97. Share price rose 10% to €5.94 over the past week.Reported Earnings • May 23First quarter 2024 earnings released: EPS: €0.07 (vs €0.046 in 1Q 2023)First quarter 2024 results: EPS: €0.07 (up from €0.046 in 1Q 2023). Revenue: €27.3m (down 9.9% from 1Q 2023). Net income: €2.58m (up 162% from 1Q 2023). Profit margin: 9.4% (up from 3.2% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Consumer Finance industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.お知らせ • May 18Multitude SE Confirms Earnings Guidance for the Year 2024Multitude SE confirmed earnings guidance for the year 2024. For the year, the company expected to achieve its EBIT guidance of EUR 67.5 million for 2024, which corresponds to an increase in EBIT of around 50% compared to 2023.Board Change • May 01Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Kristiina Leppanen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.分析記事 • Apr 26Multitude (ETR:FRU) Is Increasing Its Dividend To €0.19The board of Multitude SE ( ETR:FRU ) has announced that it will be paying its dividend of €0.19 on the 7th of May, an...お知らせ • Apr 26+ 1 more updateMultitude SE Announces Board ChangesMultitude SE announced that at its AGM held on 25 April 2024, approved to elect Marion Khüny as a new member, each one for a term ending at the end of the next Annual General Meeting. The Chairman and the Vice Chairman of the Board of Directors will be elected by the Board of Directors from amongst its members. The Board of Directors also decided the compositions of its Committees, which are as follows: Audit Committee: Kristiina Leppänen (Chair), Marion Khüny and Ari Tiukkanen. Risk Committee: Marion Khüny (Chair), Kristiina Leppänen and Ari Tiukkanen. People and Culture Committee: Ari Tiukkanen (Chair), Goutam Challagalla and Jorma Jokela.Upcoming Dividend • Apr 19Upcoming dividend of €0.19 per shareEligible shareholders must have bought the stock before 26 April 2024. Payment date: 07 May 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.5%).分析記事 • Apr 12Multitude's (ETR:FRU) Upcoming Dividend Will Be Larger Than Last Year'sMultitude SE ( ETR:FRU ) will increase its dividend from last year's comparable payment on the 7th of May to €0.19...分析記事 • Apr 11A Piece Of The Puzzle Missing From Multitude SE's (ETR:FRU) 30% Share Price ClimbMultitude SE ( ETR:FRU ) shareholders would be excited to see that the share price has had a great month, posting a 30...分析記事 • Mar 29Multitude's (ETR:FRU) Dividend Will Be Increased To €0.19The board of Multitude SE ( ETR:FRU ) has announced that it will be paying its dividend of €0.19 on the 30th of April...Declared Dividend • Mar 20Dividend increased to €0.19Dividend of €0.19 is 58% higher than last year. Ex-date: 26th April 2024 Payment date: 30th April 2024 Dividend yield will be 3.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Valuation Update With 7 Day Price Move • Mar 19Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €5.00, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total loss to shareholders of 17% over the past three years.お知らせ • Mar 14+ 1 more updateMultitude SE Provides Earnings Guidance for the Year 2024Multitude SE provided earnings guidance for the year 2024. For the year, the company expects EBIT guidance of EUR 67.5 million.Price Target Changed • Jan 18Price target increased by 7.5% to €8.10Up from €7.53, the current price target is an average from 3 analysts. New target price is 72% above last closing price of €4.72. Stock is up 36% over the past year. The company is forecast to post earnings per share of €0.54 for next year compared to €0.39 last year.お知らせ • Dec 08+ 5 more updatesMultitude SE, Annual General Meeting, Apr 25, 2024Multitude SE, Annual General Meeting, Apr 25, 2024.Valuation Update With 7 Day Price Move • Nov 17Investor sentiment improves as stock rises 22%After last week's 22% share price gain to €3.16, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Consumer Finance industry in Europe. Total loss to shareholders of 30% over the past three years.お知らせ • Nov 17Multitude SE Provides Consolidated Earnings Guidance for the Year 2023Multitude SE provided consolidated earnings guidance for the year 2023. For the year, the company expects consolidated EBIT of EUR 45 million.Major Estimate Revision • Aug 25Consensus EPS estimates fall by 21%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.687 to €0.544. Revenue forecast unchanged from €223.5m at last update. Net income forecast to grow 64% next year vs 2.8% growth forecast for Consumer Finance industry in Germany. Consensus price target of €7.70 unchanged from last update. Share price rose 3.0% to €3.40 over the past week.お知らせ • Aug 24Multitude SE Provides Financial Guidance for 2023Multitude SE provided financial guidance for 2023. Multitude is on track to reach EBIT guidance of EUR 45 million for Fiscal Year 2023.Major Estimate Revision • Jun 23Consensus EPS estimates fall by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €227.3m to €223.6m. EPS estimate also fell from €0.765 per share to €0.687 per share. Net income forecast to grow 102% next year vs 10% growth forecast for Consumer Finance industry in Germany. Consensus price target down from €8.15 to €7.70. Share price fell 4.2% to €3.64 over the past week.Valuation Update With 7 Day Price Move • May 26Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €4.46, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Consumer Finance industry in Europe. Total returns to shareholders of 15% over the past three years.Reported Earnings • May 14First quarter 2023 earnings released: EPS: €0.10 (vs €0.093 in 1Q 2022)First quarter 2023 results: EPS: €0.10 (up from €0.093 in 1Q 2022). Revenue: €27.2m (down 13% from 1Q 2022). Net income: €2.22m (up 11% from 1Q 2022). Profit margin: 8.2% (up from 6.4% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Consumer Finance industry in Europe. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Upcoming Dividend • Apr 21Upcoming dividend of €0.12 per share at 3.1% yieldEligible shareholders must have bought the stock before 28 April 2023. Payment date: 09 May 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.9%).Price Target Changed • Mar 21Price target increased by 8.3% to €8.15Up from €7.53, the current price target is an average from 4 analysts. New target price is 97% above last closing price of €4.13. Stock is up 10.0% over the past year. The company is forecast to post earnings per share of €0.77 for next year compared to €0.39 last year.Major Estimate Revision • Mar 17Consensus EPS estimates increase by 30%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.723 to €0.94. Revenue forecast steady at €240.1m. Net income forecast to grow 15,287% next year vs 1.3% decline forecast for Consumer Finance industry in Germany. Consensus price target of €7.90 unchanged from last update. Share price rose 10% to €4.22 over the past week.Major Estimate Revision • Jan 22Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.41 to €0.35. Revenue forecast unchanged from €212.5m at last update. Net income forecast to grow 11,865% next year vs 3.1% decline forecast for Consumer Finance industry in Germany. Consensus price target of €7.53 unchanged from last update. Share price was steady at €3.47 over the past week.お知らせ • Dec 15+ 5 more updatesMultitude SE, Annual General Meeting, Apr 27, 2023Multitude SE, Annual General Meeting, Apr 27, 2023.Price Target Changed • Nov 16Price target decreased to €7.53Down from €8.37, the current price target is an average from 4 analysts. New target price is 168% above last closing price of €2.81. Stock is down 42% over the past year. The company is forecast to post earnings per share of €0.23 for next year compared to €0.057 last year.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Michael A. Cusumano was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Price Target Changed • Oct 20Price target decreased to €7.53Down from €8.37, the current price target is an average from 3 analysts. New target price is 189% above last closing price of €2.60. Stock is down 47% over the past year. The company is forecast to post earnings per share of €0.29 for next year compared to €0.057 last year.Price Target Changed • Aug 19Price target decreased to €8.37Down from €9.70, the current price target is an average from 3 analysts. New target price is 228% above last closing price of €2.55. Stock is down 51% over the past year. The company is forecast to post earnings per share of €0.43 for next year compared to €0.057 last year.Valuation Update With 7 Day Price Move • Jul 12Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to €2.55, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Consumer Finance industry in Europe. Total loss to shareholders of 77% over the past three years.Price Target Changed • Jun 02Price target decreased to €9.03Down from €10.37, the current price target is an average from 3 analysts. New target price is 151% above last closing price of €3.60. Stock is down 21% over the past year. The company is forecast to post earnings per share of €0.41 for next year compared to €0.057 last year.Valuation Update With 7 Day Price Move • May 30Investor sentiment improved over the past weekAfter last week's 17% share price gain to €3.50, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total loss to shareholders of 65% over the past three years.Board Change • May 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Michael A. Cusumano was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • May 02Multitude SE Announces Board ElectionsThe Board of Directors of Multitude SE has decided to re-elect Frederik Strange as the Chairman of the Board of Directors and Jorma Jokela as the Vice Chairman of the Board of Directors. The Board of Directors has also decided the compositions of its Committees, which are as follows: Audit Committee: Kristiina Leppänen (Chairman), Goutam Challagalla and Juhani Vanhala. People and Culture Committee (formerly called Remuneration Committee): Frederik Strange (Chairman), Goutam Challagalla and Juhani Vanhala. Risk Committee: Jussi Mekkonen (Chairman), Kristiina Leppänen, Michael A. Cusumano and Frederik Strange.Major Estimate Revision • Mar 29Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate increased from €0.39 to €0.45. Revenue forecast unchanged at €250.9m. Net income forecast to grow 706% next year vs 52% growth forecast for Consumer Finance industry in Germany. Consensus price target of €10.37 unchanged from last update. Share price was steady at €3.77 over the past week.お知らせ • Feb 24Multitude SE Appoints Lasse Mäkelä as Head of External CommunicationsMultitude SE appoints Lasse Mäkelä as head of external communications. In addition to his current position as the Head of Mergers and Acquisitions, Lasse Mäkelä will assume the role as the Head of External Communications effective immediately.お知らせ • Jan 28Multitude SE Announces Executive ChangesMultitude SE announced that Dr. Clemens Krause has rejoined the Leadership Team as Group Chief Risk Officer, succeeding Daniel Kliem, effective as of 1 January 2022. Clemens initially joined Multitude in 2012 as the Group’s CFO and took up the CRO role in 2019 until November 2020, after which he served as a member of the Board of Directors. As Group CRO Clemens shall be focusing on leading risk, data science and credit teams to support the business and growth of the Group.Valuation Update With 7 Day Price Move • Jan 04Investor sentiment improved over the past weekAfter last week's 25% share price gain to €4.71, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Consumer Finance industry in Europe. Total loss to shareholders of 47% over the past three years.Valuation Update With 7 Day Price Move • Nov 27Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €4.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Consumer Finance industry in Europe. Total loss to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.16 per share.Major Estimate Revision • Jul 15Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 EPS estimate fell from €0.15 to €0.098. Revenue forecast unchanged from €230.9m at last update. Net income forecast to shrink 38% next year vs 5.4% growth forecast for Consumer Finance industry in Germany . Consensus price target of €7.83 unchanged from last update. Share price rose 3.3% to €5.06 over the past week.Price Target Changed • Jul 12Price target increased to €7.83Up from €7.00, the current price target is an average from 2 analysts. New target price is 55% above last closing price of €5.07. Stock is up 45% over the past year.Major Estimate Revision • Jul 01Consensus EPS estimates fall to €0.15The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from €242.5m to €238.0m. EPS estimate also fell from €0.30 to €0.15. Net income forecast to shrink 17% next year vs 8.5% growth forecast for Consumer Finance industry in Germany . Consensus price target down from €7.00 to €6.75. Share price fell 3.6% to €5.16 over the past week.Valuation Update With 7 Day Price Move • Jun 12Investor sentiment improved over the past weekAfter last week's 21% share price gain to €5.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Consumer Finance industry in Europe. Total loss to shareholders of 71% over the past three years.お知らせ • Jun 09Ferratum Oyj Provides Earnings Guidance for the Year 2021Ferratum Oyj provided earnings guidance for the year 2021. For the year, the company expects consolidated EBIT to be at or above EUR 20 million, taking into consideration current growth initiatives. Revenue growth during second half of 2021 (quarter-on-quarter), and expects all tribes to contribute to growth in 2022.業績と収益の成長予測XTRA:MULT - アナリストの将来予測と過去の財務データ ( )EUR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/2028253324559312/31/2027257313953412/31/2026245274864412/31/2025134235468N/A9/30/2025139236477N/A6/30/202513922101113N/A3/31/2025134198699N/A12/31/202412614-38-25N/A9/30/2024119118597N/A6/30/202411810-16-4N/A3/31/2024117121526N/A12/31/202311911147158N/A9/30/2023114133343N/A6/30/2023115134151N/A3/31/202311485162N/A12/31/20221148-45-34N/A9/30/2022107-2-205-192N/A6/30/2022108-5-152-139N/A3/31/20221120-172-160N/A12/31/2021114-1-85-74N/A9/30/202112993545N/A6/30/202112112-89-79N/A3/31/202112814110120N/A12/31/20201225128140N/A9/30/20201347170181N/A6/30/202015310276288N/A3/31/20201569118132N/A12/31/201917123923N/A9/30/201917324N/A-9N/A6/30/201916923N/A-39N/A3/31/201916119N/A-63N/A12/31/201816119N/A-40N/A9/30/201815517N/A0N/A6/30/201815117N/A28N/A3/31/201814921N/A33N/A12/31/201713920N/A33N/A9/30/201713020N/A-5N/A6/30/201711917N/A10N/A3/31/201710915N/A37N/A12/31/201610113N/A24N/A9/30/20169111N/A33N/A6/30/20168713N/A-7N/A3/31/20168012N/A-35N/A12/31/20157211N/A-33N/A9/30/2015659N/A-25N/A6/30/2015587N/A-20N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: MULTの予測収益成長率 (年間9.6% ) は 貯蓄率 ( 1.9% ) を上回っています。収益対市場: MULTの収益 ( 9.6% ) German市場 ( 17.2% ) よりも低い成長が予測されています。高成長収益: MULTの収益は増加すると予測されていますが、大幅には増加しません。収益対市場: MULTの収益 ( 13.6% ) German市場 ( 6.8% ) よりも速いペースで成長すると予測されています。高い収益成長: MULTの収益 ( 13.6% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: MULTの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YDiversified-financials 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/14 10:25終値2026/05/14 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Multitude AG 4 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。11 アナリスト機関Simona SarliBerenbergScott BardoBerenbergCosmin FilkerGBC AG8 その他のアナリストを表示
お知らせ • Mar 13Multitude AG Provides Earnings Guidance for the Year 2026, 2027 and 2028Multitude AG provided earnings guidance for the year 2026, 2027 and 2028. The Group’s capital markets guidance is based on consolidated net profit, targeting EUR 30 million in 2026 and 20% annual growth in 2027 and 2028.
Price Target Changed • Nov 13Price target increased by 7.1% to €10.93Up from €10.20, the current price target is provided by 1 analyst. New target price is 57% above last closing price of €6.94. Stock is up 51% over the past year. The company posted earnings per share of €0.66 last year.
Price Target Changed • Aug 22Price target increased by 7.1% to €10.58Up from €9.88, the current price target is provided by 1 analyst. New target price is 47% above last closing price of €7.19. Stock is up 36% over the past year. The company posted earnings per share of €0.66 last year.
Price Target Changed • Oct 15Price target increased by 15% to €9.73Up from €8.47, the current price target is an average from 4 analysts. New target price is 103% above last closing price of €4.80. Stock is up 51% over the past year. The company is forecast to post earnings per share of €0.67 for next year compared to €0.51 last year.
Major Estimate Revision • May 30Consensus EPS estimates fall by 16%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.829 to €0.692 per share. Revenue forecast steady at €234.2m. Net income forecast to grow 46% next year vs 28% growth forecast for Consumer Finance industry in Germany. Consensus price target up from €8.47 to €8.97. Share price rose 10% to €5.94 over the past week.
お知らせ • May 18Multitude SE Confirms Earnings Guidance for the Year 2024Multitude SE confirmed earnings guidance for the year 2024. For the year, the company expected to achieve its EBIT guidance of EUR 67.5 million for 2024, which corresponds to an increase in EBIT of around 50% compared to 2023.
お知らせ • Apr 25Multitude AG Approves Ordinary Dividend for the Financial Year 2025, Payable on May 4, 2026Multitude AG at its Annual General Meeting held on April 24, 2026 approved an ordinary dividend of EUR 0.55 per share for the financial year 2025, with total available earnings of EUR 71,289,106. The dividend will be paid on May 4, 2026, to shareholders net of applicable withholding tax. The dividend record date is April 28, 2026.
お知らせ • Apr 23Multitude Group Announces Executive Changes in Wholesale BankingMultitude AG announced that Wholesale Banking Tribe CEO Alain Nydegger had decided by mutual agreement to step down from his role effective April 30, 2026. Following the successful ramp-up of the business unit, Mr. Nydegger left at his own request to pursue entrepreneurial ventures outside of the Multitude Group. Multitude CEO Antti Kumpulainen, who was actively involved in the establishment of the Wholesale Banking business unit, assumed the responsibilities of Business unit CEO during the interim period and ensured continuity and a seamless transition until a successor was appointed.
Upcoming Dividend • Apr 20Upcoming dividend of €0.55 per shareEligible shareholders must have bought the stock before 27 April 2026. Payment date: 04 May 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 8.3%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.7%).
New Risk • Mar 27New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change).
お知らせ • Mar 27Multitude AG, Annual General Meeting, Apr 24, 2026Multitude AG, Annual General Meeting, Apr 24, 2026, at 10:00 W. Europe Standard Time. Location: brandschenkestrasse 24, 8027, zurich, Switzerland
お知らせ • Mar 26Multitude AG Proposes Ordinary Dividend for Financial Year 2025, Payable on May 4, 2026Multitude AG proposed an ordinary dividend distribution of EUR 0.55 per share (i.e. a total of EUR 11,776,677) for financial year 2025 at the AGM to be held on April 24, 2026. If the proposal is approved, the dividend will be paid on May 4, 2026 net of applicable withholding tax.
Reported Earnings • Mar 15Full year 2025 earnings releasedFull year 2025 results: Revenue: €137.2m (up 8.6% from FY 2024). Net income: €26.6m (up 87% from FY 2024). Profit margin: 19% (up from 11% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Finance industry in Europe.
お知らせ • Mar 13Multitude AG Provides Earnings Guidance for the Year 2026, 2027 and 2028Multitude AG provided earnings guidance for the year 2026, 2027 and 2028. The Group’s capital markets guidance is based on consolidated net profit, targeting EUR 30 million in 2026 and 20% annual growth in 2027 and 2028.
お知らせ • Dec 19+ 4 more updatesMultitude AG to Report First Half, 2026 Results on Aug 13, 2026Multitude AG announced that they will report first half, 2026 results on Aug 13, 2026
Reported Earnings • Nov 18Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: €35.1m (up 9.4% from 3Q 2024). Net income: €8.26m (up 113% from 3Q 2024). Profit margin: 24% (up from 12% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Finance industry in Europe.
Price Target Changed • Nov 13Price target increased by 7.1% to €10.93Up from €10.20, the current price target is provided by 1 analyst. New target price is 57% above last closing price of €6.94. Stock is up 51% over the past year. The company posted earnings per share of €0.66 last year.
Reported Earnings • Aug 24Second quarter 2025 earnings released: EPS: €0.28 (vs €0.13 in 2Q 2024)Second quarter 2025 results: EPS: €0.28 (up from €0.13 in 2Q 2024). Revenue: €35.8m (up 17% from 2Q 2024). Net income: €6.92m (up 147% from 2Q 2024). Profit margin: 19% (up from 9.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Finance industry in Europe. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Aug 22Price target increased by 7.1% to €10.58Up from €9.88, the current price target is provided by 1 analyst. New target price is 47% above last closing price of €7.19. Stock is up 36% over the past year. The company posted earnings per share of €0.66 last year.
Reported Earnings • May 23First quarter 2025 earnings released: EPS: €0.28 (vs €0.072 in 1Q 2024)First quarter 2025 results: EPS: €0.28 (up from €0.072 in 1Q 2024). Revenue: €34.8m (up 28% from 1Q 2024). Net income: €7.23m (up 366% from 1Q 2024). Profit margin: 21% (up from 5.7% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Finance industry in Europe. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth.
お知らせ • May 15Multitude AG Approves Board and Committee AppointmentsMultitude AG announced that at its AGM held on 13 May 2025, the shareholders approved election of Mika Stahlberg as a new member of the Board of Directors, each one for a term until the closing of the next Annual General Meeting. Also, elected Lea Liigus as members of the People and Culture Committee.
Upcoming Dividend • May 07Upcoming dividend of €0.44 per shareEligible shareholders must have bought the stock before 14 May 2025. Payment date: 16 May 2025. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.4%). In line with average of industry peers (4.0%).
Valuation Update With 7 Day Price Move • Apr 21Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €5.78, the stock trades at a trailing P/E ratio of 5.9x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total returns to shareholders of 74% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €11.15 per share.
Reported Earnings • Apr 04Full year 2024 earnings releasedFull year 2024 results: Revenue: €126.1m (up 5.9% from FY 2023). Net income: €20.2m (up 83% from FY 2023). Profit margin: 16% (up from 9.3% in FY 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Finance industry in Europe.
お知らせ • Apr 04Multitude AG announces Annual dividend, payable on May 16, 2025Multitude AG announced Annual dividend of EUR 0.2400 per share payable on May 16, 2025, ex-date on May 14, 2025 and record date on May 15, 2025.
Board Change • Feb 04Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Kristiina Leppanen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Jan 29Multitude AG Announces Management ChangesMultitude AG announced that Mr. Clemens Krause, Chief Risk Officer, will retire as of 31 March 2025, after serving the company since 2012. The Group thanks him for his exceptional contributions and wishes him a fulfilling retirement. Mr. Adam Jezierski will join the Leadership Team as Chief Credit Risk Officer on 3 February 2025 and succeed Mr. Krause. With extensive expertise in credit risk management, Mr. Jezierski is expected to strengthen the Group’s risk oversight capabilities. Leadership Departures – Mr. Lasse Mäkelä, Chief Strategy and IR Officer, is stepping down from the Leadership Team. Current Leadership Team of Multitude Group: The Leadership Team of Multitude Group now comprises: Mr. Antti Kumpulainen – CEO, Mr. Bernd Egger – Chief Financial Officer, Mr. Kristjan Kajakas – Tribe CEO, Ferratum, Mr. Mantvydas Stareika – Tribe CEO, CapitalBox, Mr. Alain Nydegger – Tribe CEO, Wholesale Banking, Mr. Adam Jezierski – Chief Credit Risk Officer, Mr. Kornel Kabele – Chief Technology Officer, Ms. Lea Liigus – Chief Legal & Compliance Officer, Mr. Adam Tönning – Chief Financial Planning Officer, and Mr. Shaun Vella – Chief HR Officer. Board of Directors Updates: Mr. Goutam Challagalla will step down on 1 February 2025. Mrs. Kristiina Leppänen will step down at the end of the 2025 Annual General Meeting (AGM). Both individuals will be proposed for election to the Board of Directors of Multitude Bank p.l.c., pending regulatory approval. Updated Composition of the Board of Directors of Multitude AG (as of 1 February 2025): Mr. Ari Tiukkanen – Chairman (Independent), Mrs. Marion Khüny – Independent Member, Mrs. Kristiina Leppänen – Independent Member, Mr. Jorma Jokela – Non-Independent Member, and Mrs. Lea Liigus – Executive Director, Non-Independent.
お知らせ • Jan 28Multitude AG Announces CEO ChangesMultitude AG effective 1 January 2025, Mr. Antti Kumpulainen has assumed the role of CEO of Multitude Group, in addition to his existing position as CEO of Multitude Bank p.l.c. As previously announced, Mr. Jorma Jokela stepped down as CEO and Leadership Team member at the end of 2024. Moving forward, he will focus on strategic initiatives, partnerships, acquisitions, and talent development in a full-time capacity. Mr. Jokela will also continue to serve on the Board of Directors of both Multitude AG and Multitude Bank p.l.c.
お知らせ • Dec 13+ 4 more updatesMultitude P.L.C. to Report Fiscal Year 2024 Results on Apr 17, 2025Multitude P.L.C. announced that they will report fiscal year 2024 results on Apr 17, 2025
New Risk • Nov 13New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €92.2m (US$97.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (56% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (€92.2m market cap, or US$97.9m).
分析記事 • Oct 20Investors Still Aren't Entirely Convinced By Multitude P.L.C.'s (ETR:E4I) Earnings Despite 26% Price JumpThose holding Multitude P.L.C. ( ETR:E4I ) shares would be relieved that the share price has rebounded 26% in the last...
Valuation Update With 7 Day Price Move • Oct 15Investor sentiment improves as stock rises 13%After last week's 13% share price gain to €4.80, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total returns to shareholders of 5.7% over the past three years.
Price Target Changed • Oct 15Price target increased by 15% to €9.73Up from €8.47, the current price target is an average from 4 analysts. New target price is 103% above last closing price of €4.80. Stock is up 51% over the past year. The company is forecast to post earnings per share of €0.67 for next year compared to €0.51 last year.
New Risk • Sep 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (56% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change).
Valuation Update With 7 Day Price Move • Sep 23Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to €4.31, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total loss to shareholders of 8.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.40 per share.
Reported Earnings • Aug 28Second quarter 2024 earnings released: EPS: €0.11 (vs €0.18 in 2Q 2023)Second quarter 2024 results: EPS: €0.11. Revenue: €30.8m (up 1.8% from 2Q 2023). Net income: €5.75m (up 45% from 2Q 2023). Profit margin: 19% (up from 13% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Consumer Finance industry in Europe.
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to €4.92, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total returns to shareholders of 4.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.56 per share.
Buy Or Sell Opportunity • Jul 17Now 20% undervaluedOver the last 90 days, the stock has risen 18% to €6.14. The fair value is estimated to be €7.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 117% in 2 years. Earnings are forecast to grow by 98% in the next 2 years.
お知らせ • Jun 26Multitude SE (XTRA:FRU) commences an Equity Buyback for 2,172,396 shares, representing 10% of its issued share capital, under the authorization approved on April 25, 2024.Multitude SE (XTRA:FRU) commences share repurchases on June 25, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2024. As per the mandate, the company is authorized to repurchase up to 2,172,396 shares, representing 10% of its issued share capital. The shares may be repurchased at the prevailing market price on the date of repurchase. The program will be funded using the company’s unrestricted equity. The shares to be repurchased may be used to meet obligations arising from the company’s incentive schemes or as a means of payment in acquisitions and other similar arrangements relating to the company’s business. The authorization will be valid until the earliest of the transfer of the registered office of the company from Finland to Malta pursuant to the transfer proposal approved by the Company’s Board of Directors on January 17, 2024; or the end of the next Annual General Meeting to be held in the year 2025; or June 30, 2025. As of March 28, 2024, the company had 21,723,960 issued and outstanding shares and had 80,786 own shares. On 16 May 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, for a total of €0.7 million. The repurchases will commence on May 17, 2024, and the program will end by June 30, 2024.
Major Estimate Revision • May 30Consensus EPS estimates fall by 16%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.829 to €0.692 per share. Revenue forecast steady at €234.2m. Net income forecast to grow 46% next year vs 28% growth forecast for Consumer Finance industry in Germany. Consensus price target up from €8.47 to €8.97. Share price rose 10% to €5.94 over the past week.
Reported Earnings • May 23First quarter 2024 earnings released: EPS: €0.07 (vs €0.046 in 1Q 2023)First quarter 2024 results: EPS: €0.07 (up from €0.046 in 1Q 2023). Revenue: €27.3m (down 9.9% from 1Q 2023). Net income: €2.58m (up 162% from 1Q 2023). Profit margin: 9.4% (up from 3.2% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Consumer Finance industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
お知らせ • May 18Multitude SE Confirms Earnings Guidance for the Year 2024Multitude SE confirmed earnings guidance for the year 2024. For the year, the company expected to achieve its EBIT guidance of EUR 67.5 million for 2024, which corresponds to an increase in EBIT of around 50% compared to 2023.
Board Change • May 01Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Kristiina Leppanen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
分析記事 • Apr 26Multitude (ETR:FRU) Is Increasing Its Dividend To €0.19The board of Multitude SE ( ETR:FRU ) has announced that it will be paying its dividend of €0.19 on the 7th of May, an...
お知らせ • Apr 26+ 1 more updateMultitude SE Announces Board ChangesMultitude SE announced that at its AGM held on 25 April 2024, approved to elect Marion Khüny as a new member, each one for a term ending at the end of the next Annual General Meeting. The Chairman and the Vice Chairman of the Board of Directors will be elected by the Board of Directors from amongst its members. The Board of Directors also decided the compositions of its Committees, which are as follows: Audit Committee: Kristiina Leppänen (Chair), Marion Khüny and Ari Tiukkanen. Risk Committee: Marion Khüny (Chair), Kristiina Leppänen and Ari Tiukkanen. People and Culture Committee: Ari Tiukkanen (Chair), Goutam Challagalla and Jorma Jokela.
Upcoming Dividend • Apr 19Upcoming dividend of €0.19 per shareEligible shareholders must have bought the stock before 26 April 2024. Payment date: 07 May 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.5%).
分析記事 • Apr 12Multitude's (ETR:FRU) Upcoming Dividend Will Be Larger Than Last Year'sMultitude SE ( ETR:FRU ) will increase its dividend from last year's comparable payment on the 7th of May to €0.19...
分析記事 • Apr 11A Piece Of The Puzzle Missing From Multitude SE's (ETR:FRU) 30% Share Price ClimbMultitude SE ( ETR:FRU ) shareholders would be excited to see that the share price has had a great month, posting a 30...
分析記事 • Mar 29Multitude's (ETR:FRU) Dividend Will Be Increased To €0.19The board of Multitude SE ( ETR:FRU ) has announced that it will be paying its dividend of €0.19 on the 30th of April...
Declared Dividend • Mar 20Dividend increased to €0.19Dividend of €0.19 is 58% higher than last year. Ex-date: 26th April 2024 Payment date: 30th April 2024 Dividend yield will be 3.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Valuation Update With 7 Day Price Move • Mar 19Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €5.00, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total loss to shareholders of 17% over the past three years.
お知らせ • Mar 14+ 1 more updateMultitude SE Provides Earnings Guidance for the Year 2024Multitude SE provided earnings guidance for the year 2024. For the year, the company expects EBIT guidance of EUR 67.5 million.
Price Target Changed • Jan 18Price target increased by 7.5% to €8.10Up from €7.53, the current price target is an average from 3 analysts. New target price is 72% above last closing price of €4.72. Stock is up 36% over the past year. The company is forecast to post earnings per share of €0.54 for next year compared to €0.39 last year.
お知らせ • Dec 08+ 5 more updatesMultitude SE, Annual General Meeting, Apr 25, 2024Multitude SE, Annual General Meeting, Apr 25, 2024.
Valuation Update With 7 Day Price Move • Nov 17Investor sentiment improves as stock rises 22%After last week's 22% share price gain to €3.16, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Consumer Finance industry in Europe. Total loss to shareholders of 30% over the past three years.
お知らせ • Nov 17Multitude SE Provides Consolidated Earnings Guidance for the Year 2023Multitude SE provided consolidated earnings guidance for the year 2023. For the year, the company expects consolidated EBIT of EUR 45 million.
Major Estimate Revision • Aug 25Consensus EPS estimates fall by 21%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.687 to €0.544. Revenue forecast unchanged from €223.5m at last update. Net income forecast to grow 64% next year vs 2.8% growth forecast for Consumer Finance industry in Germany. Consensus price target of €7.70 unchanged from last update. Share price rose 3.0% to €3.40 over the past week.
お知らせ • Aug 24Multitude SE Provides Financial Guidance for 2023Multitude SE provided financial guidance for 2023. Multitude is on track to reach EBIT guidance of EUR 45 million for Fiscal Year 2023.
Major Estimate Revision • Jun 23Consensus EPS estimates fall by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €227.3m to €223.6m. EPS estimate also fell from €0.765 per share to €0.687 per share. Net income forecast to grow 102% next year vs 10% growth forecast for Consumer Finance industry in Germany. Consensus price target down from €8.15 to €7.70. Share price fell 4.2% to €3.64 over the past week.
Valuation Update With 7 Day Price Move • May 26Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €4.46, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Consumer Finance industry in Europe. Total returns to shareholders of 15% over the past three years.
Reported Earnings • May 14First quarter 2023 earnings released: EPS: €0.10 (vs €0.093 in 1Q 2022)First quarter 2023 results: EPS: €0.10 (up from €0.093 in 1Q 2022). Revenue: €27.2m (down 13% from 1Q 2022). Net income: €2.22m (up 11% from 1Q 2022). Profit margin: 8.2% (up from 6.4% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Consumer Finance industry in Europe. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Upcoming Dividend • Apr 21Upcoming dividend of €0.12 per share at 3.1% yieldEligible shareholders must have bought the stock before 28 April 2023. Payment date: 09 May 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.9%).
Price Target Changed • Mar 21Price target increased by 8.3% to €8.15Up from €7.53, the current price target is an average from 4 analysts. New target price is 97% above last closing price of €4.13. Stock is up 10.0% over the past year. The company is forecast to post earnings per share of €0.77 for next year compared to €0.39 last year.
Major Estimate Revision • Mar 17Consensus EPS estimates increase by 30%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.723 to €0.94. Revenue forecast steady at €240.1m. Net income forecast to grow 15,287% next year vs 1.3% decline forecast for Consumer Finance industry in Germany. Consensus price target of €7.90 unchanged from last update. Share price rose 10% to €4.22 over the past week.
Major Estimate Revision • Jan 22Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.41 to €0.35. Revenue forecast unchanged from €212.5m at last update. Net income forecast to grow 11,865% next year vs 3.1% decline forecast for Consumer Finance industry in Germany. Consensus price target of €7.53 unchanged from last update. Share price was steady at €3.47 over the past week.
お知らせ • Dec 15+ 5 more updatesMultitude SE, Annual General Meeting, Apr 27, 2023Multitude SE, Annual General Meeting, Apr 27, 2023.
Price Target Changed • Nov 16Price target decreased to €7.53Down from €8.37, the current price target is an average from 4 analysts. New target price is 168% above last closing price of €2.81. Stock is down 42% over the past year. The company is forecast to post earnings per share of €0.23 for next year compared to €0.057 last year.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Michael A. Cusumano was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Price Target Changed • Oct 20Price target decreased to €7.53Down from €8.37, the current price target is an average from 3 analysts. New target price is 189% above last closing price of €2.60. Stock is down 47% over the past year. The company is forecast to post earnings per share of €0.29 for next year compared to €0.057 last year.
Price Target Changed • Aug 19Price target decreased to €8.37Down from €9.70, the current price target is an average from 3 analysts. New target price is 228% above last closing price of €2.55. Stock is down 51% over the past year. The company is forecast to post earnings per share of €0.43 for next year compared to €0.057 last year.
Valuation Update With 7 Day Price Move • Jul 12Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to €2.55, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Consumer Finance industry in Europe. Total loss to shareholders of 77% over the past three years.
Price Target Changed • Jun 02Price target decreased to €9.03Down from €10.37, the current price target is an average from 3 analysts. New target price is 151% above last closing price of €3.60. Stock is down 21% over the past year. The company is forecast to post earnings per share of €0.41 for next year compared to €0.057 last year.
Valuation Update With 7 Day Price Move • May 30Investor sentiment improved over the past weekAfter last week's 17% share price gain to €3.50, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total loss to shareholders of 65% over the past three years.
Board Change • May 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Michael A. Cusumano was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • May 02Multitude SE Announces Board ElectionsThe Board of Directors of Multitude SE has decided to re-elect Frederik Strange as the Chairman of the Board of Directors and Jorma Jokela as the Vice Chairman of the Board of Directors. The Board of Directors has also decided the compositions of its Committees, which are as follows: Audit Committee: Kristiina Leppänen (Chairman), Goutam Challagalla and Juhani Vanhala. People and Culture Committee (formerly called Remuneration Committee): Frederik Strange (Chairman), Goutam Challagalla and Juhani Vanhala. Risk Committee: Jussi Mekkonen (Chairman), Kristiina Leppänen, Michael A. Cusumano and Frederik Strange.
Major Estimate Revision • Mar 29Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate increased from €0.39 to €0.45. Revenue forecast unchanged at €250.9m. Net income forecast to grow 706% next year vs 52% growth forecast for Consumer Finance industry in Germany. Consensus price target of €10.37 unchanged from last update. Share price was steady at €3.77 over the past week.
お知らせ • Feb 24Multitude SE Appoints Lasse Mäkelä as Head of External CommunicationsMultitude SE appoints Lasse Mäkelä as head of external communications. In addition to his current position as the Head of Mergers and Acquisitions, Lasse Mäkelä will assume the role as the Head of External Communications effective immediately.
お知らせ • Jan 28Multitude SE Announces Executive ChangesMultitude SE announced that Dr. Clemens Krause has rejoined the Leadership Team as Group Chief Risk Officer, succeeding Daniel Kliem, effective as of 1 January 2022. Clemens initially joined Multitude in 2012 as the Group’s CFO and took up the CRO role in 2019 until November 2020, after which he served as a member of the Board of Directors. As Group CRO Clemens shall be focusing on leading risk, data science and credit teams to support the business and growth of the Group.
Valuation Update With 7 Day Price Move • Jan 04Investor sentiment improved over the past weekAfter last week's 25% share price gain to €4.71, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Consumer Finance industry in Europe. Total loss to shareholders of 47% over the past three years.
Valuation Update With 7 Day Price Move • Nov 27Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €4.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Consumer Finance industry in Europe. Total loss to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.16 per share.
Major Estimate Revision • Jul 15Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 EPS estimate fell from €0.15 to €0.098. Revenue forecast unchanged from €230.9m at last update. Net income forecast to shrink 38% next year vs 5.4% growth forecast for Consumer Finance industry in Germany . Consensus price target of €7.83 unchanged from last update. Share price rose 3.3% to €5.06 over the past week.
Price Target Changed • Jul 12Price target increased to €7.83Up from €7.00, the current price target is an average from 2 analysts. New target price is 55% above last closing price of €5.07. Stock is up 45% over the past year.
Major Estimate Revision • Jul 01Consensus EPS estimates fall to €0.15The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from €242.5m to €238.0m. EPS estimate also fell from €0.30 to €0.15. Net income forecast to shrink 17% next year vs 8.5% growth forecast for Consumer Finance industry in Germany . Consensus price target down from €7.00 to €6.75. Share price fell 3.6% to €5.16 over the past week.
Valuation Update With 7 Day Price Move • Jun 12Investor sentiment improved over the past weekAfter last week's 21% share price gain to €5.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Consumer Finance industry in Europe. Total loss to shareholders of 71% over the past three years.
お知らせ • Jun 09Ferratum Oyj Provides Earnings Guidance for the Year 2021Ferratum Oyj provided earnings guidance for the year 2021. For the year, the company expects consolidated EBIT to be at or above EUR 20 million, taking into consideration current growth initiatives. Revenue growth during second half of 2021 (quarter-on-quarter), and expects all tribes to contribute to growth in 2022.