HLSE:TULAV

Stock Analysis Report

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Executive Summary

Tulikivi Corporation manufactures and sells fireplaces, sauna heaters, and interior decoration products in Finland, the United States, and rest of Europe. More Details


Snowflake Analysis

Acceptable track record and slightly overvalued.

Share Price & News

How has Tulikivi's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TULAV is more volatile than 90% of Finnish stocks over the past 3 months, typically moving +/- 20% a week.

Volatility Over Time: TULAV's weekly volatility has increased from 12% to 20% over the past year.


Market Performance


7 Day Return

3.5%

TULAV

5.2%

FI Building

-1.4%

FI Market


1 Year Return

148.5%

TULAV

40.2%

FI Building

29.3%

FI Market

Return vs Industry: TULAV exceeded the Finnish Building industry which returned 27.9% over the past year.

Return vs Market: TULAV exceeded the Finnish Market which returned 18.5% over the past year.


Shareholder returns

TULAVIndustryMarket
7 Day3.5%5.2%-1.4%
30 Day9.6%5.6%-1.4%
90 Day90.4%10.5%3.1%
1 Year148.5%148.5%42.2%40.2%38.8%29.3%
3 Year70.7%70.7%40.6%31.9%31.2%8.2%
5 Year38.1%38.1%78.8%59.9%72.1%34.0%

Long-Term Price Volatility Vs. Market

How volatile is Tulikivi's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Tulikivi undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TULAV (€0.3) is trading below our estimate of fair value (€0.77)

Significantly Below Fair Value: TULAV is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: TULAV is poor value based on its PE Ratio (88.7x) compared to the XE Building industry average (22x).

PE vs Market: TULAV is poor value based on its PE Ratio (88.7x) compared to the Finnish market (27.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TULAV's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TULAV's PB Ratio (2.2x) is in line with the XE Building industry average.


Next Steps

Future Growth

How is Tulikivi forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.5%

Forecasted Capital Goods industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tulikivi has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Tulikivi performed over the past 5 years?

21.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TULAV has high quality earnings.

Growing Profit Margin: TULAV became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: TULAV has become profitable over the past 5 years, growing earnings by 21.4% per year.

Accelerating Growth: TULAV has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: TULAV has become profitable in the last year, making it difficult to compare its past year earnings growth to the Building industry (14.4%).


Return on Equity

High ROE: TULAV's Return on Equity (2.5%) is considered low.


Next Steps

Financial Health

How is Tulikivi's financial position?


Financial Position Analysis

Short Term Liabilities: TULAV's short term assets (€10.5M) exceed its short term liabilities (€9.4M).

Long Term Liabilities: TULAV's short term assets (€10.5M) do not cover its long term liabilities (€15.3M).


Debt to Equity History and Analysis

Debt Level: TULAV's debt to equity ratio (178.5%) is considered high.

Reducing Debt: TULAV's debt to equity ratio has increased from 123.3% to 178.5% over the past 5 years.

Debt Coverage: TULAV's debt is not well covered by operating cash flow (18.4%).

Interest Coverage: TULAV's interest payments on its debt are not well covered by EBIT (1.4x coverage).


Balance Sheet


Next Steps

Dividend

What is Tulikivi current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TULAV's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TULAV's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TULAV's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TULAV's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: TULAV is not paying a notable dividend for the Finnish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TULAV's dividend in 3 years as they are not forecast to pay a notable one for the Finnish market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.6yrs

Average management tenure


CEO

Heikki Vauhkonen (50 yo)

7.58yrs

Tenure

€250,320

Compensation

Mr. Heikki Vauhkonen, LLB, BBA has been the Managing Director of Tulikivi Corporation since August 23, 2013 and has been its Member of Management Group 2001. Mr. Vauhkonen served as Managing Director of Tu...


CEO Compensation Analysis

Compensation vs Market: Heikki's total compensation ($USD296.90K) is about average for companies of similar size in the Finnish market ($USD318.23K).

Compensation vs Earnings: Heikki's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Heikki Vauhkonen
MD & Director7.58yrs€250.32k11.5%
€ 2.1m
Markku Rönkkö
Secretary & Independent Director12.17yrs€37.45k0%
€ 0
Jouko Toivanen
Director of Finance & Administration7.58yrsno data4.24%
€ 756.8k
Markku Prättälä
Sales Director of Finland6.17yrsno data0%
€ 0

7.6yrs

Average Tenure

53yo

Average Age

Experienced Management: TULAV's management team is seasoned and experienced (7.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Heikki Vauhkonen
MD & Director7.58yrs€250.32k11.5%
€ 2.1m
Markku Rönkkö
Secretary & Independent Director12.17yrs€37.45k0%
€ 0
Reijo Svanborg
Independent Director5.92yrs€20.65k0%
€ 0
Jyrki Tähtinen
Independent Chairman5.92yrs€73.33k0%
€ 0
Jaakko Aspara
Independent Director4.92yrs€19.00kno data
Liudmila Niemi
Independent Director1.92yrs€19.99kno data

5.9yrs

Average Tenure

54.5yo

Average Age

Experienced Board: TULAV's board of directors are considered experienced (5.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Tulikivi Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tulikivi Corporation
  • Ticker: TULAV
  • Exchange: HLSE
  • Founded: 1893
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: €17.864m
  • Shares outstanding: 59.75m
  • Website: https://www.tulikivi.com

Number of Employees


Location

  • Tulikivi Corporation
  • Kuhnustantie 10
  • Juuka
  • North Karelia
  • 83900
  • Finland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TULAVHLSE (OMX Nordic Exchange Helsinki)YesSeries A SharesFIEURApr 1992
TUZABST (Boerse-Stuttgart)YesSeries A SharesDEEURApr 1992
0GCJLSE (London Stock Exchange)YesSeries A SharesGBEURApr 1992
TULAVHBATS-CHIXE (BATS 'Chi-X Europe')YesSeries A SharesGBEURApr 1992

Biography

Tulikivi Corporation manufactures and sells fireplaces, sauna heaters, and interior decoration products in Finland, the United States, and rest of Europe. The company offers Karelia, heat retaining soapsto...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/08 19:08
End of Day Share Price2021/03/08 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.