PunaMusta Media Oyj (HLSE:PUMU) - Share price, News & Analysis

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

PUMU Stock Overview

PunaMusta Media Oyj publishes newspapers and magazines in Finland.

Rewards

Trading at 64.4% below our estimate of its fair value

Became profitable this year

Risk Analysis

Earnings are forecast to decline by an average of 5.8% per year for the next 3 years

Debt is not well covered by operating cash flow

Dividend of 2.88% is not well covered by earnings

Large one-off items impacting financial results

+ 1 more risk

PunaMusta Media Oyj Competitors

Price History & Performance

Summary of all time highs, changes and price drops for PunaMusta Media Oyj
Historical stock prices
Current Share Price	€6.25
52 Week High	€6.80
52 Week Low	€5.35
Beta	0.30
1 Month Change	3.31%
3 Month Change	11.61%
1 Year Change	-7.41%
3 Year Change	0%
5 Year Change	-19.46%
Change since IPO	757.13%

Shareholder Returns

	PUMU	FI Media	FI Market
7D	5.9%	0.9%	-0.2%
1Y	-7.4%	-8.7%	-13.4%

Return vs Industry: PUMU exceeded the Finnish Media industry which returned -8.7% over the past year.

Return vs Market: PUMU exceeded the Finnish Market which returned -13.4% over the past year.

Price Volatility

Is PUMU's price volatile compared to industry and market?
PUMU volatility
PUMU Average Weekly Movement	5.4%
Media Industry Average Movement	5.6%
Market Average Movement	6.1%
10% most volatile stocks in FI Market	8.9%
10% least volatile stocks in FI Market	4.4%

Stable Share Price: PUMU is not significantly more volatile than the rest of Finnish stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: PUMU's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1874	619	Raimo Puustinen	https://www.punamustamedia.fi

PunaMusta Media Oyj publishes newspapers and magazines in Finland. It also offers digital marketing portals, digital display solutions, and advertising and digital printing services; and operates radio stations. In addition, the company engages in securities trading, and real estate rental activities.

PunaMusta Media Oyj Fundamentals Summary

How do PunaMusta Media Oyj's earnings and revenue compare to its market cap?
PUMU fundamental statistics
Market Cap	€78.23m
Earnings (TTM)	€4.52m
Revenue (TTM)	€107.20m

17.3x

P/E Ratio

0.7x

P/S Ratio

Is PUMU overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PUMU income statement (TTM)
Revenue	€107.20m
Cost of Revenue	€49.01m
Gross Profit	€58.19m
Other Expenses	€53.67m
Earnings	€4.52m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.36
Gross Margin	54.28%
Net Profit Margin	4.22%
Debt/Equity Ratio	87.4%

How did PUMU perform over the long term?

See historical performance and comparison

Dividends

2.9%

Current Dividend Yield

50%

Payout Ratio

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: PUMU (€6.25) is trading below our estimate of fair value (€17.58)

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

Price To Earnings Ratio

PE vs Industry: PUMU is good value based on its PE Ratio (17.3x) compared to the Finnish Media industry average (18.4x).

PE vs Market: PUMU's PE Ratio (17.3x) is in line with the Finnish market.

Price to Earnings Growth Ratio

PEG Ratio: PUMU's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

Price to Book Ratio

PB vs Industry: PUMU's PB Ratio (1.7x) is in line with the FI Media industry average.

Future Growth

How is PunaMusta Media Oyj forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

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

-5.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PUMU's earnings are forecast to decline over the next 3 years (-5.8% per year).

Earnings vs Market: PUMU's earnings are forecast to decline over the next 3 years (-5.8% per year).

High Growth Earnings: PUMU's earnings are forecast to decline over the next 3 years.

Revenue vs Market: PUMU's revenue (0.09% per year) is forecast to grow slower than the Finnish market (2.9% per year).

High Growth Revenue: PUMU's revenue (0.09% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PUMU's Return on Equity is forecast to be low in 3 years time (5.9%).

Past Performance

How has PunaMusta Media 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

-23.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PUMU has a large one-off gain of €4.4M impacting its December 31 2021 financial results.

Growing Profit Margin: PUMU became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: PUMU's earnings have declined by 23.3% per year over the past 5 years.

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

Earnings vs Industry: PUMU has become profitable in the last year, making it difficult to compare its past year earnings growth to the Media industry (68.4%).

Return on Equity

High ROE: PUMU's Return on Equity (9.9%) is considered low.

Financial Health

How is PunaMusta Media Oyj's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

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

Financial Position Analysis

Short Term Liabilities: PUMU's short term assets (€43.4M) exceed its short term liabilities (€40.4M).

Long Term Liabilities: PUMU's short term assets (€43.4M) exceed its long term liabilities (€25.7M).

Debt to Equity History and Analysis

Debt Level: PUMU's net debt to equity ratio (41.6%) is considered high.

Reducing Debt: PUMU's debt to equity ratio has increased from 21% to 87.4% over the past 5 years.

Debt Coverage: PUMU's debt is not well covered by operating cash flow (13.7%).

Interest Coverage: Insufficient data to determine if PUMU's interest payments on its debt are well covered by EBIT.

Balance Sheet

Dividend

What is PunaMusta Media 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

2.88%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: PUMU's dividend (2.88%) is higher than the bottom 25% of dividend payers in the Finnish market (2.39%).

High Dividend: PUMU's dividend (2.88%) is low compared to the top 25% of dividend payers in the Finnish market (4.69%).

Stability and Growth of Payments

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

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

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (49.9%), PUMU's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: PUMU is paying a dividend but the company has no free cash flows.

Discover strong dividend paying companies

Management

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

4.3yrs

Average board tenure

CEO

Raimo Puustinen (64 yo)

22.33yrs

Tenure

€212,426

Compensation

Mr. Raimo Puustinen has been Chief Executive Officer and President of PunaMusta Media Oyj (formerly known as Pohjois-Karjalan Kirjapaino Oyj) since 2000. Mr. Puustinen has been a Member of Supervisory Boar...

CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Raimo's total compensation is reasonable compared to companies of similar size in the Finnish market.

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

Board Members

Experienced Board: PUMU's board of directors are considered experienced (4.3 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	2022/05/21 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31