HLSE:TTALO

Stock Analysis Report

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Executive Summary

Terveystalo Oyj provides occupational healthcare services in Finland. More Details


Snowflake Analysis

Reasonable growth potential with mediocre balance sheet.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: TTALO is less volatile than 75% of Finnish stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: TTALO's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

-0.6%

TTALO

-1.5%

FI Healthcare

-1.2%

FI Market


1 Year Return

-15.6%

TTALO

-4.8%

FI Healthcare

6.3%

FI Market

Return vs Industry: TTALO underperformed the Finnish Healthcare industry which returned -4.7% over the past year.

Return vs Market: TTALO underperformed the Finnish Market which returned 6.3% over the past year.


Shareholder returns

TTALOIndustryMarket
7 Day-0.6%-1.5%-1.2%
30 Day2.8%1.0%3.2%
90 Day-1.9%5.6%7.5%
1 Year-14.3%-15.6%-3.1%-4.8%15.3%6.3%
3 Year8.3%3.8%-12.5%-16.7%31.8%8.8%
5 Yearn/a3.6%-3.5%71.9%34.0%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

31.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TTALO (€10.3) is trading below our estimate of fair value (€15.04)

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


Price To Earnings Ratio

PE vs Industry: TTALO is poor value based on its PE Ratio (33.8x) compared to the XE Healthcare industry average (26.8x).

PE vs Market: TTALO is poor value based on its PE Ratio (33.8x) compared to the Finnish market (25.8x).


Price to Earnings Growth Ratio

PEG Ratio: TTALO is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: TTALO is overvalued based on its PB Ratio (2.3x) compared to the XE Healthcare industry average (1.9x).


Next Steps

Future Growth

How is Terveystalo Oyj forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

20.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TTALO's forecast earnings growth (20.2% per year) is above the savings rate (0.3%).

Earnings vs Market: TTALO's earnings (20.2% per year) are forecast to grow faster than the Finnish market (15.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TTALO's revenue (4.9% per year) is forecast to grow faster than the Finnish market (4.3% per year).

High Growth Revenue: TTALO's revenue (4.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TTALO's Return on Equity is forecast to be low in 3 years time (12.6%).


Next Steps

Past Performance

How has Terveystalo Oyj performed over the past 5 years?

32.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TTALO has a large one-off loss of €17.7M impacting its September 30 2020 financial results.

Growing Profit Margin: TTALO's current net profit margins (4.1%) are lower than last year (5%).


Past Earnings Growth Analysis

Earnings Trend: TTALO has become profitable over the past 5 years, growing earnings by 32% per year.

Accelerating Growth: TTALO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TTALO had negative earnings growth (-17.8%) over the past year, making it difficult to compare to the Healthcare industry average (-0.3%).


Return on Equity

High ROE: TTALO's Return on Equity (7.2%) is considered low.


Next Steps

Financial Health

How is Terveystalo Oyj's financial position?


Financial Position Analysis

Short Term Liabilities: TTALO's short term assets (€172.2M) do not cover its short term liabilities (€291.3M).

Long Term Liabilities: TTALO's short term assets (€172.2M) do not cover its long term liabilities (€510.8M).


Debt to Equity History and Analysis

Debt Level: TTALO's debt to equity ratio (72.4%) is considered high.

Reducing Debt: TTALO's debt to equity ratio has reduced from 139.1% to 72.4% over the past 5 years.

Debt Coverage: TTALO's debt is well covered by operating cash flow (31.9%).

Interest Coverage: TTALO's interest payments on its debt are well covered by EBIT (8.7x coverage).


Balance Sheet


Next Steps

Dividend

What is Terveystalo Oyj current dividend yield, its reliability and sustainability?

1.26%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TTALO's dividend (1.26%) isn’t notable compared to the bottom 25% of dividend payers in the Finnish market (1.68%).

High Dividend: TTALO's dividend (1.26%) is low compared to the top 25% of dividend payers in the Finnish market (4.01%).


Stability and Growth of Payments

Stable Dividend: TTALO has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: TTALO's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (42.6%), TTALO's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TTALO's dividends in 3 years are forecast to be well covered by earnings (42.8% payout ratio).


Next Steps

Management

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

1.9yrs

Average management tenure


CEO

Ville Iho (51 yo)

1.08yrs

Tenure

€27,273

Compensation

Mr. Ville Iho has been President & CEO of Terveystalo Oyj since December 6, 2019. Mr. Iho served as Chief Executive Officer at Nurminen Logistics Oyj since March 18, 2019 until December 05, 2019 and its Pr...


CEO Compensation Analysis

Compensation vs Market: Ville's total compensation ($USD32.97K) is below average for companies of similar size in the Finnish market ($USD939.43K).

Compensation vs Earnings: Insufficient data to compare Ville's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Ville Iho
President & CEO1.08yrs€27.27kno data
Ilkka Laurila
Chief Financial Officer6yrsno data0.25%
€ 3.2m
Niki Kotilainen
Director of Operations1yrno datano data
Elina Saviharju
Senior Vice President of Legal0.50yrno datano data
Kati Kaksonen
Vice President of Communicationsno datano datano data
Veera Siivonen
Senior Vice President of Consumer Business0.67yrno datano data
Minttu Sinisalo
Senior Vice President of Human Resources0.92yrno datano data
Juha Juosila
Chief Digital Officer5yrsno data0.070%
€ 911.5k
Laura Räty
Executive Officer5yrsno datano data
Siina Saksi
Senior Vice President of Medical Clinic Network5yrsno data0.040%
€ 520.7k
Pia Westman
Senior Vice President of Well-being5yrsno data0.019%
€ 243.0k
Petri Bono
Chief Medical Officer1.92yrsno datano data

1.9yrs

Average Tenure

45.5yo

Average Age

Experienced Management: TTALO's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Ase Michelet
Independent Director5yrs€63.25k0.020%
€ 265.3k
Kari Kauniskangas
Independent Chairman of the Board1.75yrs€91.31k0.0033%
€ 43.8k
Lasse Heinonen
Independent Directorno data€61.91k0.0086%
€ 112.6k
Dag Andersson
Independent Director1.75yrs€50.05k0.0013%
€ 17.4k
Tomas Von Rettig
Independent Vice-Chairman of the Board2.75yrs€61.91k0.0031%
€ 40.5k
Niko Mokkila
Independent Director0.67yrno datano data
Katri Viippola
Independent Director2.75yrs€53.65k0.0025%
€ 32.3k

2.3yrs

Average Tenure

55yo

Average Age

Experienced Board: TTALO's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


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

Terveystalo Oyj's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Terveystalo Oyj
  • Ticker: TTALO
  • Exchange: HLSE
  • Founded: 2001
  • Industry: Health Care Services
  • Sector: Healthcare
  • Market Cap: €1.311b
  • Shares outstanding: 127.31m
  • Website: https://www.terveystalo.com

Number of Employees


Location

  • Terveystalo Oyj
  • Jaakonkatu 3 B
  • 3rd Floor
  • Helsinki
  • Uusimaa
  • 100
  • Finland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TTALOHLSE (OMX Nordic Exchange Helsinki)YesCommon SharesFIEUROct 2017
4TSDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 2017
0RV1LSE (London Stock Exchange)YesCommon SharesGBEUROct 2017
TTAL.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDOct 2017
TTALOHBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEUROct 2017

Biography

Terveystalo Oyj provides occupational healthcare services in Finland. The company offers general practice and specialist medical care, diagnostic, outpatient surgery, dental, and other adjacent services; a...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/17 18:31
End of Day Share Price2021/01/15 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.