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Harvia OyjHLSE:HARVIA Stock Report

Market Cap €677.5m
Share Price
€36.25
My Fair Value
€41.33
12.3% undervalued intrinsic discount
1Y-20.2%
7D-0.1%
Portfolio Value
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Harvia Oyj

HLSE:HARVIA Stock Report

Market Cap: €677.5m

Harvia Oyj (HARVIA) Stock Overview

Operates in the sauna industry. More details

HARVIA fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance3/6
Financial Health5/6
Dividends2/6

Rewards

Trading at 42.5% below our estimate of its fair value

Earnings are forecast to grow 17.77% per year

Risk Analysis

Has a high level of debt

Volatile share price over the past 3 months compared to the Finnish market


HARVIA Community Fair Values

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See what 11 others think this stock is worth. Follow their fair value or set your own to get alerts.

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Harvia Oyj

Rising Costs And Stiff Competition Will Curb Luxury Wellness

Key Takeaways Heavy reliance on discretionary spending and shifting European demographics pose significant risks to future growth and demand stability. Environmental regulations, rising competition, and supply chain volatility threaten margins, profitability, and predictable cash flow.
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€41
FV
11.6% undervalued intrinsic discount
10.50%
Revenue growth p.a.
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Harvia Oyj

Digital And IoT Saunas Will Fuel Global Wellness Adoption

Key Takeaways Expansion into digital platforms and connected wellness services is set to generate high-margin, recurring revenues while enhancing overall earnings quality. Strategic US growth, flexible operations, and rising commercial B2B demand position the company for accelerated and diversified revenue expansion.
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€56
FV
35.3% undervalued intrinsic discount
11.70%
Revenue growth p.a.
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0users have followed this narrative
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Harvia Oyj

US Capacity And APAC Expansion Will Capture Global Wellness Demand

Key Takeaways Expansion into emerging markets and investments in infrastructure are diversifying revenue sources and positioning Harvia to capture demand from global wellness trends. Innovation in smart, energy-efficient wellness products and strategic partnerships support margin growth and premiumization, while aftermarket sales improve earnings predictability.
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€42.33
FV
14.4% undervalued intrinsic discount
9.07%
Revenue growth p.a.
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Harvia Oyj Competitors

Price History & Performance

Summary of share price highs, lows and changes for Harvia Oyj
Historical stock prices
Current Share Price€36.25
52 Week High€52.40
52 Week Low€33.95
Beta1.52
1 Month Change2.26%
3 Month Change-27.93%
1 Year Change-20.15%
3 Year Change102.51%
5 Year Change71.80%
Change since IPO625.00%

Recent News & Updates

Harvia Oyj's (HEL:HARVIA) Dividend Will Be €0.37

Oct 19
Harvia Oyj's (HEL:HARVIA) Dividend Will Be €0.37

Recent updates

Harvia Oyj's (HEL:HARVIA) Dividend Will Be €0.37

Oct 19
Harvia Oyj's (HEL:HARVIA) Dividend Will Be €0.37

Harvia Oyj (HEL:HARVIA) Has Announced A Dividend Of €0.37

Sep 16
Harvia Oyj (HEL:HARVIA) Has Announced A Dividend Of €0.37

Why We're Not Concerned Yet About Harvia Oyj's (HEL:HARVIA) 27% Share Price Plunge

Sep 03
Why We're Not Concerned Yet About Harvia Oyj's (HEL:HARVIA) 27% Share Price Plunge

Harvia Oyj Just Missed Earnings - But Analysts Have Updated Their Models

Aug 11
Harvia Oyj Just Missed Earnings - But Analysts Have Updated Their Models

There's Been No Shortage Of Growth Recently For Harvia Oyj's (HEL:HARVIA) Returns On Capital

Aug 10
There's Been No Shortage Of Growth Recently For Harvia Oyj's (HEL:HARVIA) Returns On Capital

Harvia Oyj (HEL:HARVIA) Has Announced A Dividend Of €0.37

Jul 27
Harvia Oyj (HEL:HARVIA) Has Announced A Dividend Of €0.37

Harvia Oyj (HEL:HARVIA) Will Pay A Dividend Of €0.37

Jun 12
Harvia Oyj (HEL:HARVIA) Will Pay A Dividend Of €0.37

Harvia Oyj (HEL:HARVIA) Is Due To Pay A Dividend Of €0.37

May 16
Harvia Oyj (HEL:HARVIA) Is Due To Pay A Dividend Of €0.37

Harvia Oyj (HEL:HARVIA) Stocks Shoot Up 27% But Its P/E Still Looks Reasonable

May 13
Harvia Oyj (HEL:HARVIA) Stocks Shoot Up 27% But Its P/E Still Looks Reasonable

Harvia Oyj Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

May 12
Harvia Oyj Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Harvia Oyj (HEL:HARVIA) Will Pay A Dividend Of €0.37

May 02
Harvia Oyj (HEL:HARVIA) Will Pay A Dividend Of €0.37

Harvia Oyj (HEL:HARVIA) Has A Pretty Healthy Balance Sheet

Apr 01
Harvia Oyj (HEL:HARVIA) Has A Pretty Healthy Balance Sheet

Harvia Oyj Just Missed Earnings - But Analysts Have Updated Their Models

Feb 16
Harvia Oyj Just Missed Earnings - But Analysts Have Updated Their Models
User avatar

North American Expansion And ThermaSol Acquisition Will Strengthen Sauna And Spa Market Leadership

Strategic emphasis on North America and ThermaSol integration boosts market leadership, enhancing revenue and profit margins, especially in the U.S. market.

Harvia Oyj (HEL:HARVIA) Has Announced A Dividend Of €0.34

Oct 03
Harvia Oyj (HEL:HARVIA) Has Announced A Dividend Of €0.34

Calculating The Fair Value Of Harvia Oyj (HEL:HARVIA)

Oct 01
Calculating The Fair Value Of Harvia Oyj (HEL:HARVIA)

Harvia Oyj (HEL:HARVIA) Will Pay A Dividend Of €0.34

Sep 19
Harvia Oyj (HEL:HARVIA) Will Pay A Dividend Of €0.34

Harvia Oyj's (HEL:HARVIA) Dividend Will Be €0.34

Sep 04
Harvia Oyj's (HEL:HARVIA) Dividend Will Be €0.34

Harvia Oyj's (HEL:HARVIA) Share Price Could Signal Some Risk

Aug 26
Harvia Oyj's (HEL:HARVIA) Share Price Could Signal Some Risk

Harvia Oyj (HEL:HARVIA) Has Announced A Dividend Of €0.34

Aug 10
Harvia Oyj (HEL:HARVIA) Has Announced A Dividend Of €0.34

What Does Harvia Oyj's (HEL:HARVIA) Share Price Indicate?

Aug 07
What Does Harvia Oyj's (HEL:HARVIA) Share Price Indicate?

Harvia Oyj's (HEL:HARVIA) Dividend Will Be €0.34

Jul 22
Harvia Oyj's (HEL:HARVIA) Dividend Will Be €0.34

Harvia Oyj (HEL:HARVIA) Is Due To Pay A Dividend Of €0.34

Jun 19
Harvia Oyj (HEL:HARVIA) Is Due To Pay A Dividend Of €0.34

Harvia Oyj's (HEL:HARVIA) Dividend Will Be €0.34

Jun 05
Harvia Oyj's (HEL:HARVIA) Dividend Will Be €0.34

Harvia Oyj (HEL:HARVIA) Is Experiencing Growth In Returns On Capital

Jun 04
Harvia Oyj (HEL:HARVIA) Is Experiencing Growth In Returns On Capital

Harvia Oyj (HEL:HARVIA) Is Due To Pay A Dividend Of €0.34

May 22
Harvia Oyj (HEL:HARVIA) Is Due To Pay A Dividend Of €0.34

Harvia Oyj (HEL:HARVIA) Will Pay A Dividend Of €0.34

May 03
Harvia Oyj (HEL:HARVIA) Will Pay A Dividend Of €0.34

Harvia Oyj (HEL:HARVIA) Is Increasing Its Dividend To €0.34

Apr 14
Harvia Oyj (HEL:HARVIA) Is Increasing Its Dividend To €0.34

Subdued Growth No Barrier To Harvia Oyj (HEL:HARVIA) With Shares Advancing 27%

Mar 07
Subdued Growth No Barrier To Harvia Oyj (HEL:HARVIA) With Shares Advancing 27%

Harvia Oyj Just Beat EPS By 6.4%: Here's What Analysts Think Will Happen Next

Feb 12
Harvia Oyj Just Beat EPS By 6.4%: Here's What Analysts Think Will Happen Next

Estimating The Intrinsic Value Of Harvia Oyj (HEL:HARVIA)

Dec 20
Estimating The Intrinsic Value Of Harvia Oyj (HEL:HARVIA)

Shareholder Returns

HARVIAFI LeisureFI Market
7D-0.1%1.0%1.1%
1Y-20.2%4.2%19.2%

Return vs Industry: HARVIA underperformed the Finnish Leisure industry which returned 4.2% over the past year.

Return vs Market: HARVIA underperformed the Finnish Market which returned 19.2% over the past year.

Price Volatility

Is HARVIA's price volatile compared to industry and market?
HARVIA volatility
HARVIA Average Weekly Movement5.8%
Leisure Industry Average Movement3.8%
Market Average Movement4.1%
10% most volatile stocks in FI Market7.2%
10% least volatile stocks in FI Market2.7%

Stable Share Price: HARVIA's share price has been volatile over the past 3 months compared to the Finnish market.

Volatility Over Time: HARVIA's weekly volatility (6%) has been stable over the past year, but is still higher than 75% of Finnish stocks.

About the Company

FoundedEmployeesCEOWebsite
1950742Matias Jarnefeltharviagroup.com

Harvia Oyj operates in the sauna industry. It provides electric and wood burning heaters, as well as combi heaters with heat and steam; bathroom and indoor saunas; doors and glass products; hot tubs; control units; infrared cabins, controls, and heating devices; and steam showers, spa components, heater stones, and sauna accessories. The company also offers sauna interior solutions, such as sauna benches, audio speakers, and lighting solutions; and sauna installation, maintenance, and repair services.

Harvia Oyj Fundamentals Summary

How do Harvia Oyj's earnings and revenue compare to its market cap?
HARVIA fundamental statistics
Market cap€677.53m
Earnings (TTM)€23.67m
Revenue (TTM)€188.89m
28.6x
P/E Ratio
3.6x
P/S Ratio

Is HARVIA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
HARVIA income statement (TTM)
Revenue€188.89m
Cost of Revenue€66.22m
Gross Profit€122.68m
Other Expenses€99.00m
Earnings€23.67m

Last Reported Earnings

Jun 30, 2025

Next Earnings Date

Nov 06, 2025

Earnings per share (EPS)1.27
Gross Margin64.94%
Net Profit Margin12.53%
Debt/Equity Ratio82.3%

How did HARVIA perform over the long term?

See historical performance and comparison

Dividends

2.1%
Current Dividend Yield
59%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/02 20:18
End of Day Share Price 2025/10/31 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Harvia Oyj is covered by 5 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mika KarppinenDanske Bank
Miika IhamakiDNB Carnegie
Tommy IlmoniDNB Carnegie