Elisa Oyj (HEL:ELISA) Shares Could Be 37% Below Their Intrinsic Value Estimate
Aug 20
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Finnish (OMX) Telecom Sector Analysis
UpdatedAug 22, 2025
DataAggregated Company Financials
Companies7
- 7D4.3%
- 3M0.5%
- 1Y12.3%
- YTD13.9%
In the last week, the Telecom industry is up 4.2%, with Elisa Oyj up 3.7%. During this same period, the Remedy Entertainment Oyj underperformed, falling 5.9%. This takes the industry's 12 month performance to a gain of 13%. Looking forward, earnings are forecast to grow by 14% annually.
Sector Valuation and Performance
Has the Finnish Telecom Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 22 Aug 2025 | €10.7b | €4.3b | €452.3m | 21.6x | 23.6x | 2.5x |
| Sun, 20 Jul 2025 | €10.4b | €4.3b | €441.2m | 20.5x | 23.6x | 2.4x |
| Tue, 17 Jun 2025 | €10.4b | €4.3b | €442.3m | 20.1x | 23.6x | 2.4x |
| Thu, 15 May 2025 | €10.2b | €4.3b | €442.3m | 19.8x | 23x | 2.4x |
| Sat, 12 Apr 2025 | €10.1b | €4.3b | €434.9m | 19.4x | 23.1x | 2.4x |
| Mon, 10 Mar 2025 | €10.0b | €4.3b | €434.9m | 19.5x | 23x | 2.3x |
| Wed, 05 Feb 2025 | €9.3b | €4.3b | €397.5m | 18.8x | 23.5x | 2.2x |
| Fri, 03 Jan 2025 | €9.4b | €4.3b | €408.3m | 18.3x | 22.9x | 2.2x |
| Sun, 01 Dec 2024 | €9.4b | €4.3b | €408.3m | 18.7x | 23x | 2.2x |
| Tue, 29 Oct 2024 | €9.6b | €4.3b | €422.9m | 18.6x | 22.6x | 2.2x |
| Thu, 26 Sep 2024 | €10.2b | €4.3b | €422.7m | 19.5x | 24.2x | 2.4x |
| Sat, 24 Aug 2024 | €9.6b | €4.3b | €429.5m | 17.9x | 22.3x | 2.2x |
| Mon, 22 Jul 2024 | €9.2b | €4.3b | €392.5m | 17.8x | 23.4x | 2.1x |
| Wed, 19 Jun 2024 | €9.3b | €4.3b | €394.4m | 16.8x | 23.5x | 2.2x |
| Fri, 17 May 2024 | €9.2b | €4.3b | €394.4m | 17.1x | 23.4x | 2.1x |
| Sun, 14 Apr 2024 | €9.2b | €4.3b | €391.0m | 18x | 23.4x | 2.1x |
| Tue, 12 Mar 2024 | €9.2b | €4.3b | €404.2m | 16.6x | 22.7x | 2.1x |
| Thu, 08 Feb 2024 | €9.0b | €4.3b | €443.5m | 18.3x | 20.3x | 2.1x |
| Sat, 06 Jan 2024 | €10.2b | €4.7b | €464.7m | 24.8x | 21.9x | 2.2x |
| Mon, 04 Dec 2023 | €9.9b | €4.7b | €464.7m | 24.5x | 21.2x | 2.1x |
| Wed, 01 Nov 2023 | €9.7b | €4.7b | €464.7m | 23.9x | 20.9x | 2.1x |
| Fri, 29 Sep 2023 | €10.0b | €4.6b | €456.1m | 25.3x | 22x | 2.2x |
| Sun, 27 Aug 2023 | €10.3b | €4.6b | €456.1m | 25.3x | 22.6x | 2.2x |
| Tue, 25 Jul 2023 | €11.1b | €4.6b | €514.7m | 20.4x | 21.5x | 2.4x |
| Thu, 22 Jun 2023 | €11.1b | €4.6b | €518.5m | 20.6x | 21.5x | 2.4x |
| Sat, 20 May 2023 | €12.3b | €4.6b | €518.5m | 22.7x | 23.7x | 2.7x |
| Mon, 17 Apr 2023 | €12.1b | €4.6b | €541.5m | 23.4x | 22.4x | 2.7x |
| Wed, 15 Mar 2023 | €12.1b | €4.6b | €541.8m | 21.4x | 22.3x | 2.6x |
| Fri, 10 Feb 2023 | €12.2b | €4.6b | €577.7m | 22.4x | 21.1x | 2.7x |
| Sun, 08 Jan 2023 | €11.5b | €4.5b | €567.7m | 19.3x | 20.3x | 2.5x |
| Tue, 06 Dec 2022 | €12.2b | €4.5b | €566.8m | 19.4x | 21.4x | 2.7x |
| Thu, 03 Nov 2022 | €11.6b | €4.5b | €567.7m | 17x | 20.4x | 2.6x |
| Sat, 01 Oct 2022 | €11.1b | €4.5b | €582.7m | 15.5x | 19.1x | 2.5x |
| Mon, 29 Aug 2022 | €12.8b | €4.5b | €582.8m | 17.6x | 21.9x | 2.9x |
Price to Earnings Ratio
21.9x
Current Industry PE
- Investors are relatively neutral on the Finnish Communication Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 22.4x.
- The industry is trading close to its 3-year average PS ratio of 2.4x.
Past Earnings Growth
- The earnings for companies in the Communication Services industry have declined 8.1% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Finnish Telecom sector?
| FI Market | 0.49% | |
| Telecom | 4.31% | |
| Media | 6.04% | |
| Telecom Services and Carriers | 3.75% | |
| Entertainment | -1.25% | |
Industry PE
- Investors are most optimistic about the Entertainment industry which is trading above its 3-year average PE ratio of 10.2x.
- Analysts are expecting annual earnings growth of 64.5% and investors are willing to pay a premium for that growth.
- Investors are most pessimistic about the Telecom Services and Carriers industry, which is trading close to its 3-year average of 20.1x.
Forecasted Growth
- Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 64% over the next 5 years.
- In contrast, the Telecom Services and Carriers industry is expected to see its earnings grow by 6.5% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| ELISA Elisa Oyj | €45.90 | 3.8% +€266.5m | 3.7% | PE20.3x | |
| ALMA Alma Media Oyj | €14.00 | 8.9% +€94.6m | 35.3% | PE21.6x | |
| SANOMA Sanoma Oyj | €10.92 | 4.8% +€81.4m | 57.3% | PE45.9x | |
| KSL Keskisuomalainen Oyj | €7.10 | 1.4% +€1.1m | -13.2% | PS0.4x | |
| REBL Rebl Group Oyj | €1.33 | 3.1% +€500.7k | -26.1% | PS0.1x |
