Keskisuomalainen Oyj (HLSE:KSLAV) - Share price, News & Analysis

KSLAV fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	1/6
Financial Health	3/6
Dividends	3/6

KSLAV Stock Overview

Keskisuomalainen Oyj engages in publishing, printing, and distributing newspapers and magazines in Finland.

Rewards

Trading at 56.2% below our estimate of its fair value

Risk Analysis

Has a high level of debt

Dividend of 5.62% is not well covered by earnings

Large one-off items impacting financial results

Profit margins (3.3%) are lower than last year (9.9%)

Keskisuomalainen Oyj Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Keskisuomalainen Oyj
Historical stock prices
Current Share Price	€12.45
52 Week High	€18.00
52 Week Low	€11.65
Beta	0.58
1 Month Change	-6.39%
3 Month Change	-17.00%
1 Year Change	-19.68%
3 Year Change	31.05%
5 Year Change	31.89%
Change since IPO	55.63%

Recent News & Updates

May 16

Returns At Keskisuomalainen Oyj (HEL:KSLAV) Appear To Be Weighed Down

To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd...

Shareholder Returns

	KSLAV	FI Media	FI Market
7D	-4.2%	-0.5%	-1.6%
1Y	-19.7%	-5.9%	-19.8%

Return vs Industry: KSLAV underperformed the Finnish Media industry which returned -5.9% over the past year.

Return vs Market: KSLAV matched the Finnish Market which returned -19.8% over the past year.

Price Volatility

Is KSLAV's price volatile compared to industry and market?
KSLAV volatility
KSLAV Average Weekly Movement	4.2%
Media Industry Average Movement	3.9%
Market Average Movement	5.3%
10% most volatile stocks in FI Market	8.4%
10% least volatile stocks in FI Market	3.4%

Stable Share Price: KSLAV is less volatile than 75% of Finnish stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: KSLAV's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1871	2,445	Vesa-Pekka Kangaskorpi	https://www.keskisuomalainen.com

Keskisuomalainen Oyj engages in publishing, printing, and distributing newspapers and magazines in Finland. It offers sale, marketing, and communications services; digital outdoor advertising and content production solutions, as well as media; and research services. The company also engages in the real estate business.

Keskisuomalainen Oyj Fundamentals Summary

How do Keskisuomalainen Oyj's earnings and revenue compare to its market cap?
KSLAV fundamental statistics
Market Cap	€125.16m
Earnings (TTM)	€6.89m
Revenue (TTM)	€211.64m

18.2x

P/E Ratio

0.6x

P/S Ratio

Is KSLAV overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
KSLAV income statement (TTM)
Revenue	€211.64m
Cost of Revenue	€154.02m
Gross Profit	€57.62m
Other Expenses	€50.73m
Earnings	€6.89m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.69
Gross Margin	27.23%
Net Profit Margin	3.25%
Debt/Equity Ratio	67.0%

How did KSLAV perform over the long term?

See historical performance and comparison

Dividends

5.6%

Current Dividend Yield

102%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is KSLAV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KSLAV?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for KSLAV. This is calculated by dividing KSLAV's market cap by their current preferred multiple.
What is KSLAV's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	€125.16m

KSLAV key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.8x
Enterprise Value/EBITDA	6.5x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does KSLAV's PE Ratio compare to its peers?

KSLAV PE Ratio vs Peers

The above table shows the PE ratio for KSLAV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	17.6x

Forward PE

Price-To-Earnings vs Peers: KSLAV is expensive based on its Price-To-Earnings Ratio (18.2x) compared to the peer average (17.6x).

Price to Earnings Ratio vs Industry

How does KSLAV's PE Ratio compare vs other companies in the Media Industry?

Price-To-Earnings vs Industry: KSLAV is expensive based on its Price-To-Earnings Ratio (18.2x) compared to the Finnish Media industry average (17.7x)

Price to Earnings Ratio vs Fair Ratio

What is KSLAV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KSLAV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	18.2x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate KSLAV's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of KSLAV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KSLAV (€12.45) is trading below our estimate of fair value (€28.4)

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

Price to Earnings Growth Ratio

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

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Future Growth

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

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

7.0%

Forecasted Media 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 Keskisuomalainen Oyj 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.

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Take a look at our analysis of KSLAV’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
Keskisuomalainen Oyj competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Keskisuomalainen Oyj performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

10.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: KSLAV has a large one-off loss of €3.1M impacting its December 31 2021 financial results.

Growing Profit Margin: KSLAV's current net profit margins (3.3%) are lower than last year (9.9%).

Past Earnings Growth Analysis

Earnings Trend: KSLAV's earnings have grown by 10.2% per year over the past 5 years.

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

Earnings vs Industry: KSLAV had negative earnings growth (-66.3%) over the past year, making it difficult to compare to the Media industry average (68%).

Return on Equity

High ROE: KSLAV's Return on Equity (7.4%) is considered low.

Discover strong past performing companies

Financial Health

How is Keskisuomalainen Oyj's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: KSLAV's short term assets (€42.3M) do not cover its short term liabilities (€58.9M).

Long Term Liabilities: KSLAV's short term assets (€42.3M) do not cover its long term liabilities (€64.7M).

Debt to Equity History and Analysis

Debt Level: KSLAV's net debt to equity ratio (43.7%) is considered high.

Reducing Debt: KSLAV's debt to equity ratio has reduced from 91.5% to 67% over the past 5 years.

Debt Coverage: KSLAV's debt is well covered by operating cash flow (30.8%).

Interest Coverage: KSLAV earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

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

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

5.62%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: KSLAV's dividend (5.62%) is higher than the bottom 25% of dividend payers in the Finnish market (2.54%).

High Dividend: KSLAV's dividend (5.62%) is in the top 25% of dividend payers in the Finnish market (5.07%)

Stability and Growth of Payments

Stable Dividend: KSLAV's dividend payments have been volatile in the past 10 years.

Growing Dividend: KSLAV's dividend payments have fallen over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (102.1%), KSLAV's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (49.1%), KSLAV's dividend payments are well covered by cash flows.

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Management

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

12.4yrs

Average management tenure

CEO

Vesa-Pekka Kangaskorpi (58 yo)

12.42yrs

Tenure

Mr. Vesa-Pekka Kangaskorpi has been the Chief Executive Officer and Director of Keskisuomalainen Oyj since 2010. Mr. Kangaskorpi has been Member of Supervisory Board at Ilkka Yhtyma Oyj since 2000. He serv...

Leadership Team

Experienced Management: KSLAV's management team is seasoned and experienced (12.4 years average tenure).

Board Members

Experienced Board: KSLAV's board of directors are seasoned and experienced ( 16.4 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.

Data	Last Updated (UTC time)
Company Analysis	2022/06/25 00:00
End of Day Share Price	2022/06/23 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31