HLSE:TTALO

Stock Analysis Report

Executive Summary

Terveystalo Oyj provides healthcare services in Finland.

Snowflake

Fundamentals

Proven track record and slightly overvalued.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

1.4%

TTALO

4.1%

FI Healthcare

2.8%

FI Market


1 Year Return

20.5%

TTALO

-17.9%

FI Healthcare

2.7%

FI Market

Return vs Industry: TTALO exceeded the Finnish Healthcare industry which returned -17.9% over the past year.

Return vs Market: TTALO exceeded the Finnish Market which returned 2.7% over the past year.


Shareholder returns

TTALOIndustryMarket
7 Day1.4%4.1%2.8%
30 Day-1.0%-1.6%-0.1%
90 Day1.0%-0.8%1.4%
1 Year23.0%20.5%-16.4%-17.9%7.4%2.7%
3 Yearn/a-12.1%-15.6%28.8%13.5%
5 Yearn/a44.3%34.8%64.0%32.6%

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?

27.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: TTALO (€8.97) is trading below our estimate of fair value (€12.38)

Significantly Undervalued: TTALO is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TTALO is good value based on its PE Ratio (21x) compared to the Healthcare industry average (25x).

PE vs Market: TTALO is poor value based on its PE Ratio (21x) compared to the Finnish market (20x).


Price to Earnings Growth Ratio

Low PEG Ratio: TTALO is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: TTALO is overvalued based on its PB Ratio (2.2x) compared to the XE Healthcare industry average (2x).


Next Steps

Future Growth

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

11.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TTALO's forecast earnings growth (11.6% per year) is above the savings rate (0.5%).

Earnings vs Market: TTALO's earnings (11.6% per year) are forecast to grow slower than the Finnish market (13.3% per year).

High Growth Earnings: TTALO's earnings are forecast to grow, but not significantly.

Revenue vs Market: TTALO's revenue (4.8% per year) is forecast to grow faster than the Finnish market (2.1% per year).

High Growth Revenue: TTALO's revenue (4.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: TTALO's Return on Equity is forecast to be low in 3 years time (12.1%).


Next Steps

Past Performance

How has Terveystalo Oyj performed over the past 5 years?

78.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: TTALO's earnings have grown significantly by 78.5% per year over the past 5 years.

Accelerating Growth: TTALO's earnings growth over the past year (28.5%) is below its 5-year average (78.5% per year).

Earnings vs Industry: TTALO earnings growth over the past year (28.5%) exceeded the Healthcare industry 6.9%.


Return on Equity

High ROE: TTALO's Return on Equity (10.4%) is considered low.


Return on Assets

ROA vs Industry: TTALO has a higher Return on Assets than the Healthcare industry average last year.


Return on Capital Employed

ROCE Improving: TTALO has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Terveystalo Oyj's financial position?


Financial Position Analysis

Short Term Liabilities: TTALO's short term assets (€149.9M) do not cover its short term liabilities (€266.4M)

Long Term Liabilities: TTALO's short term assets (149.9M) do not cover its long term liabilities (580.5M)


Debt to Equity History and Analysis

Debt Level: TTALO's debt to equity ratio (84.4%) is considered high

Reducing Debt: Insufficient data to determine if TTALO's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: TTALO's debt is well covered by operating cash flow (34.5%).

Interest Coverage: TTALO's interest payments on its debt are well covered by EBIT (7.7x coverage).


Balance Sheet

Inventory Level: TTALO has a high level of physical assets or inventory.

Debt Coverage by Assets: TTALO's debt is not covered by short term assets (assets are 0.3x debt).


Next Steps

Dividend

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

2.23%

Current Dividend Yield


Dividend Yield vs Market

company2.2%marketbottom25%2.3%markettop25%5.0%industryaverage1.8%forecastin3Years3.0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: TTALO's dividend (2.23%) isn’t notable compared to the bottom 25% of dividend payers in the Finnish market (2.34%).

High Dividend: TTALO's dividend (2.23%) is low compared to the top 25% of dividend payers in the Finnish market (5.01%).

Stable Dividend: Whilst dividend payments have been stable, TTALO has been paying a dividend for less than 10 years.

Growing Dividend: TTALO's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.9%), 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 covered by earnings (51.2% payout ratio).


Next Steps

Management

What is the CEO of Terveystalo Oyj's salary, the management and board of directors tenure and is there insider trading?

3.8yrs

Average management tenure


CEO

Ilkka Laurila (42yo)

0.08yrs

Tenure

0

Mr. Ilkka Laurila has been Chief Financial Officer of Terveystalo Oyj since 2015 and also serves as its Interim Chief Executive Officer since September 9, 2019. Mr. Laurila serves as Procurement Director a ...


Management Age and Tenure

3.8yrs

Average Tenure

48yo

Average Age

Experienced Management: TTALO's management team is considered experienced (3.8 years average tenure).


Board Age and Tenure

1.5yrs

Average Tenure

54yo

Average Age

Experienced Board: TTALO's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.


Insider Trading

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


Ownership Breakdown


Management Team

  • Julia Ormio (49yo)

    Senior Vice President of Legal

    • Tenure: 0.8yrs
  • Susanna Kinnari (52yo)

    Senior Vice President of Communications

    • Tenure: 4.8yrs
  • Ilkka Laurila (42yo)

    Interim CEO & CFO

    • Tenure: 0.08yrs
  • Jens Jensen (46yo)

    Senior Vice President of Commercial

    • Tenure: 3.8yrs
  • Juha Juosila (47yo)

    Chief Digital Officer

    • Tenure: 3.8yrs
  • Laura Räty (42yo)

    Senior Vice President of Public Partnerships

    • Tenure: 3.8yrs
  • Siina Saksi (53yo)

    Chief Operating Officer of Clinic Network

    • Tenure: 3.8yrs
  • Pia Westman (54yo)

    Chief Operating Officer of Centralized Services & Capital Region

    • Tenure: 3.8yrs
  • Kati Kaksonen

    Director of Investor Relations & Financial Communications

    • Tenure: 0yrs
  • Unto Palonen

    Deputy Chief Medical Officer

    • Tenure: 0.9yrs

Board Members

  • Åse Michelet (67yo)

    Director

    • Tenure: 3.8yrs
  • Kari Kauniskangas (57yo)

    Chairman of the Board

    • Tenure: 0.5yrs
  • Lasse Heinonen (51yo)

    Director

    • Tenure: 0yrs
  • Dag Andresson (58yo)

    Director

    • Tenure: 0.5yrs
  • Tom Von Rettig (39yo)

    Vice-Chairman of the Board

    • Tenure: 1.5yrs
  • Paul Hartwall (38yo)

    Director

    • Tenure: 0.5yrs
  • Olli Holmström (59yo)

    Director

    • Tenure: 2.8yrs
  • Katri Viippola (43yo)

    Director

    • Tenure: 1.5yrs

Company Information

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


Key Information

  • Name: Terveystalo Oyj
  • Ticker: TTALO
  • Exchange: HLSE
  • Founded:
  • Industry: Health Care Services
  • Sector: Healthcare
  • Market Cap: €1.142b
  • 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 healthcare services in Finland. The company offers versatile and occupational healthcare, and medical and examination services; and laboratory, imaging, and other diagnosis service ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 22:03
End of Day Share Price2019/10/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.