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Technopolis

HLSE:TPS1V
Snowflake Description

Acceptable track record with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TPS1V
HLSE
€730M
Market Cap
  1. Home
  2. FI
  3. Real Estate
Company description

Technopolis Plc develops, owns, and operates business parks that combine services with office space in Finland, Sweden, Norway, Estonia, Russia, and Lithuania. The last earnings update was 8 days ago. More info.


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TPS1V Share Price and Events
7 Day Returns
0%
HLSE:TPS1V
1.6%
Europe Real Estate
3.3%
FI Market
1 Year Returns
21.7%
HLSE:TPS1V
7.4%
Europe Real Estate
2.3%
FI Market
TPS1V Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Technopolis (TPS1V) 0% -0.1% 17.7% 21.7% 24% -6.8%
Europe Real Estate 1.6% -2.6% -3.5% 7.4% 39% 122.8%
FI Market 3.3% -5.4% -5.3% 2.3% 36% 72.9%
1 Year Return vs Industry and Market
  • TPS1V outperformed the Real Estate industry which returned 7.4% over the past year.
  • TPS1V outperformed the Market in Finland which returned 2.3% over the past year.
Price Volatility
TPS1V
Industry
5yr Volatility vs Market

TPS1V Value

 Is Technopolis undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Technopolis to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Technopolis.

HLSE:TPS1V Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year FI Government Bond Rate 0.8%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for HLSE:TPS1V
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FI Govt Bond Rate 0.8%
Equity Risk Premium S&P Global 9.2%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 0.41
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.407 (1 + (1- 20%) (123.36%))
0.809
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.78% + (0.809 * 9.23%)
8.24%

Discounted Cash Flow Calculation for HLSE:TPS1V using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Technopolis is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

HLSE:TPS1V DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (EUR, Millions) 38.00 42.00 44.49 47.12 49.92
Source Analyst x1 Analyst x2 Est @ 5.92% Est @ 5.92% Est @ 5.92%
Present Value
Discounted (@ 8.24%)
35.11 35.85 35.08 34.33 33.60
Present value of next 5 years cash flows €173.97
HLSE:TPS1V DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €49.92 × (1 + 0.78%) ÷ (8.24% – 0.78%)
€673.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €673.98 ÷ (1 + 8.24%)5
€453.67
HLSE:TPS1V Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €173.97 + €453.67
€627.64
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €627.64 / 156.92
€4
HLSE:TPS1V Discount to Share Price
Calculation Result
Value per share (EUR) From above. €4.00
Current discount Discount to share price of €4.65
= -1 x (€4.65 - €4.00) / €4.00
-16.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Technopolis is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Technopolis's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Technopolis's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
HLSE:TPS1V PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in EUR €0.44
HLSE:TPS1V Share Price ** HLSE (2018-11-01) in EUR €4.65
Europe Real Estate Industry PE Ratio Median Figure of 202 Publicly-Listed Real Estate Companies 9.42x
Finland Market PE Ratio Median Figure of 106 Publicly-Listed Companies 17.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Technopolis.

HLSE:TPS1V PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HLSE:TPS1V Share Price ÷ EPS (both in EUR)

= 4.65 ÷ 0.44

10.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Technopolis is overvalued based on earnings compared to the Europe Real Estate industry average.
  • Technopolis is good value based on earnings compared to the Finland market.
Price based on expected Growth
Does Technopolis's expected growth come at a high price?
Raw Data
HLSE:TPS1V PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-2.4%per year
Europe Real Estate Industry PEG Ratio Median Figure of 94 Publicly-Listed Real Estate Companies -0.12x
Finland Market PEG Ratio Median Figure of 89 Publicly-Listed Companies 1.07x

*Line of best fit is calculated by linear regression .

HLSE:TPS1V PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.48x ÷ -2.4%

-4.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Technopolis earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Technopolis's assets?
Raw Data
HLSE:TPS1V PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in EUR €4.16
HLSE:TPS1V Share Price * HLSE (2018-11-01) in EUR €4.65
Europe Real Estate Industry PB Ratio Median Figure of 256 Publicly-Listed Real Estate Companies 1.04x
Finland Market PB Ratio Median Figure of 139 Publicly-Listed Companies 2.12x
HLSE:TPS1V PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HLSE:TPS1V Share Price ÷ Book Value per Share (both in EUR)

= 4.65 ÷ 4.16

1.12x

* Primary Listing of Technopolis.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Technopolis is overvalued based on assets compared to the Europe Real Estate industry average.
X
Value checks
We assess Technopolis's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Technopolis has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TPS1V Future Performance

 How is Technopolis expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-2.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Technopolis expected to grow at an attractive rate?
  • Technopolis's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.8%.
Growth vs Market Checks
  • Technopolis's earnings are expected to decrease over the next 1-3 years, this is below the Finland market average.
  • Technopolis's revenue growth is expected to exceed the Finland market average.
Annual Growth Rates Comparison
Raw Data
HLSE:TPS1V Future Growth Rates Data Sources
Data Point Source Value (per year)
HLSE:TPS1V Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -2.4%
HLSE:TPS1V Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 7.2%
Europe Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -4.6%
Europe Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3.6%
Finland Market Earnings Growth Rate Market Cap Weighted Average 17.8%
Finland Market Revenue Growth Rate Market Cap Weighted Average 2.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
HLSE:TPS1V Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
HLSE:TPS1V Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 206 80 69 3
2019-12-31 191 85 65 3
2018-12-31 178 78 73 3
HLSE:TPS1V Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-09-30 177 56 70
2018-06-30 177 64 78
2018-03-31 178 66 78
2017-12-31 180 74 72
2017-09-30 179 63 59
2017-06-30 178 55 54
2017-03-31 175 59 45
2016-12-31 172 60 40
2016-09-30 169 70 48
2016-06-30 166 68 41
2016-03-31 170 67 44
2015-12-31 171 64 40

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Technopolis's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Technopolis's revenue is expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
HLSE:TPS1V Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Technopolis Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:TPS1V Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.43 0.52 0.36 4.00
2019-12-31 0.42 0.51 0.34 4.00
2018-12-31 0.48 0.53 0.44 4.00
HLSE:TPS1V Past Financials Data
Date (Data in EUR Millions) EPS *
2018-09-30 0.44
2018-06-30 0.50
2018-03-31 0.50
2017-12-31 0.46
2017-09-30 0.38
2017-06-30 0.34
2017-03-31 0.29
2016-12-31 0.31
2016-09-30 0.39
2016-06-30 0.34
2016-03-31 0.42
2015-12-31 0.33

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Technopolis is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Technopolis's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Technopolis has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TPS1V Past Performance

  How has Technopolis performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Technopolis's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Technopolis has delivered over 20% year on year earnings growth in the past 5 years.
  • Technopolis's 1-year earnings growth is less than its 5-year average (17.1% vs 35.2%)
  • Technopolis's earnings growth has exceeded the Europe Real Estate industry average in the past year (17.1% vs 0.7%).
Earnings and Revenue History
Technopolis's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Technopolis Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:TPS1V Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 176.93 69.63 14.93
2018-06-30 176.83 78.23 14.63
2018-03-31 178.33 78.13 14.23
2017-12-31 179.73 72.03 14.73
2017-09-30 178.96 59.44 13.69
2017-06-30 177.86 53.84 13.29
2017-03-31 175.36 44.94 13.79
2016-12-31 172.06 40.14 13.59
2016-09-30 168.94 47.78 13.90
2016-06-30 165.74 41.38 13.80
2016-03-31 170.34 44.08 13.40
2015-12-31 170.54 40.28 13.90
2015-09-30 170.26 -6.04 20.61
2015-06-30 170.76 -7.04 21.01
2015-03-31 163.16 -17.14 20.71
2014-12-31 161.66 -16.24 20.51
2014-09-30 154.98 29.56 17.44
2014-06-30 145.38 26.76 16.54
2014-03-31 136.28 23.66 16.04
2013-12-31 126.28 25.56 15.24
2013-09-30 120.23 22.92 43.74
2013-06-30 116.13 27.42 41.54
2013-03-31 111.63 28.02 39.14
2012-12-31 107.33 25.82 36.24
2012-09-30 103.60 28.06 32.19
2012-06-30 99.99 30.22 32.19
2012-03-31 96.06 44.03 32.19
2011-12-31 92.87 46.70 32.19

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Technopolis has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Technopolis used its assets less efficiently than the Europe Real Estate industry average last year based on Return on Assets.
  • Technopolis has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Technopolis's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Technopolis has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TPS1V Health

 How is Technopolis's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Technopolis's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Technopolis's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Technopolis's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Technopolis's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Technopolis Company Filings, last reported 1 month ago.

HLSE:TPS1V Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 709.00 900.10 28.90
2018-06-30 694.40 904.70 30.60
2018-03-31 680.60 895.40 60.80
2017-12-31 764.88 786.42 71.75
2017-09-30 782.30 898.60 39.30
2017-06-30 762.40 899.00 31.00
2017-03-31 756.20 905.20 62.50
2016-12-31 719.28 949.30 128.03
2016-09-30 722.40 991.20 98.60
2016-06-30 581.10 904.90 26.10
2016-03-31 597.40 851.60 23.10
2015-12-31 610.78 849.70 39.38
2015-09-30 602.30 912.00 83.40
2015-06-30 606.30 930.40 98.70
2015-03-31 574.80 869.50 29.30
2014-12-31 575.61 838.96 28.27
2014-09-30 626.70 865.30 34.50
2014-06-30 619.90 853.20 25.10
2014-03-31 617.00 858.50 39.30
2013-12-31 624.29 862.60 54.37
2013-09-30 474.00 658.30 10.00
2013-06-30 469.40 658.80 16.70
2013-03-31 469.80 618.90 57.50
2012-12-31 389.53 608.41 15.68
2012-09-30 381.24 580.30 18.33
2012-06-30 371.18 555.08 6.87
2012-03-31 340.95 555.10 6.33
2011-12-31 343.17 551.59 12.51
  • Technopolis's level of debt (127%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (138.9% vs 127% today).
  • Debt is not well covered by operating cash flow (6.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.4x coverage).
X
Financial health checks
We assess Technopolis's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Technopolis has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TPS1V Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.94%
Current annual income from Technopolis dividends. Estimated to be 4.14% next year.
If you bought €2,000 of Technopolis shares you are expected to receive €39 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Technopolis's pays a lower dividend yield than the bottom 25% of dividend payers in Finland (2.63%).
  • Technopolis's dividend is below the markets top 25% of dividend payers in Finland (5.05%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
HLSE:TPS1V Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 136 Stocks 3.1%
Finland Market Average Dividend Yield Market Cap Weighted Average of 97 Stocks 4.1%
Finland Minimum Threshold Dividend Yield 10th Percentile 1.8%
Finland Bottom 25% Dividend Yield 25th Percentile 2.6%
Finland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

HLSE:TPS1V Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.21 4.00
2019-12-31 0.19 4.00
2018-12-31 0.18 4.00
HLSE:TPS1V Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-03-20 0.090 2.228
2017-02-22 0.120 3.284
2016-02-24 0.170 4.987
2016-02-04 0.170 4.820
2015-02-10 0.150 3.944
2014-02-14 0.100 2.415
2013-03-04 0.200 4.470
2012-03-01 0.200 5.575
2012-02-01 0.200 5.076
2011-01-28 0.170 4.832
2010-07-16 0.150 3.933
2010-01-29 0.150 4.434
2009-03-26 0.120 3.804
2008-11-03 0.150 5.715

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Technopolis's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Technopolis's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Technopolis afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Technopolis has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TPS1V Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Keith Silverang
COMPENSATION €327,000
AGE 57
TENURE AS CEO 10.2 years
CEO Bio

Mr. Keith Silverang, BA, MBA has been the Chief Executive Officer and President of Technopolis Plc since September 15, 2008 and also as its Member of Executive Board since 2004. Mr. Silverang served as the Chief Executive Officer of Technopolis Ventures Ltd. from March 15, 2004 to 2006. He served at Partek Corporation, Hackman Group and Oy Hackman Metos AB. Mr. Silverang served as Vice President of AAC Global Oy. He served as Group Vice President and Director of Capital area at Technopolis Plc. Mr. Silverang studied BA degree from Boston University and an MBA from the Helsinki School of Economics.

CEO Compensation
  • Keith's compensation has been consistent with company performance over the past year.
  • Keith's remuneration is lower than average for companies of similar size in Finland.
Management Team Tenure

Average tenure and age of the Technopolis management team in years:

1.7
Average Tenure
47
Average Age
  • The average tenure for the Technopolis management team is less than 2 years, this suggests a new team.
Management Team

Keith Silverang

TITLE
President & CEO
COMPENSATION
€327K
AGE
57
TENURE
10.2 yrs

Sami Laine

TITLE
Chief Financial Officer
AGE
47
TENURE
1.5 yrs

Juha Juntunen

TITLE
COO and Director of Sales & Marketing
AGE
45

Minna Karttunen

TITLE
Head of IR
AGE
43
TENURE
1.8 yrs

Outi Raekivi

TITLE
Chief Legal Officer
AGE
50

Kari Kokkonen

TITLE
Chief Real Estate Officer
AGE
55
TENURE
0.8 yrs

Niko Pulli

TITLE
Director of Services
AGE
45
Board of Directors Tenure

Average tenure and age of the Technopolis board of directors in years:

1.7
Average Tenure
53
Average Age
  • The average tenure for the Technopolis board of directors is less than 3 years, this suggests a new board.
Board of Directors

Juha Laaksonen

TITLE
Chairman of the Board
COMPENSATION
€71K
AGE
66
TENURE
1.7 yrs

Reima Rytsölä

TITLE
Vice Chairman of the Board
COMPENSATION
€37K
AGE
49
TENURE
0.7 yrs

Christine Rankin

TITLE
Director
COMPENSATION
€43K
AGE
54
TENURE
1.7 yrs

Pekka Ojanpää

TITLE
Director
COMPENSATION
€36K
AGE
52
TENURE
4.7 yrs

Helena Liljedahl

TITLE
Director
COMPENSATION
€36K
AGE
49
TENURE
1.7 yrs

Hannu Leinonen

TITLE
Director
AGE
56
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Max Price (EUR) Value (EUR)
X
Management checks
We assess Technopolis's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Technopolis has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TPS1V News

External News
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Simply Wall St News

With A Return On Equity Of 13%, Has Technopolis Plc's (HEL:TPS1V) Management Done Well?

This article is for those who would like to learn about Return On Equity (ROE). … Our data shows Technopolis has a return on equity of 13% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What To Know Before Buying Technopolis Plc (HEL:TPS1V) For Its Dividend

Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … Over the past 10 years, Technopolis Plc (HEL:TPS1V) has returned an average of 4.00% per year to shareholders in terms of dividend yield. … Let's dig deeper into whether Technopolis should have a place in your portfolio.

Simply Wall St -

Should You Invest In The Real Estate Stock Technopolis Plc (HEL:TPS1V)?

In this article, I’ll take you through the real estate sector growth expectations, as well as evaluate whether Technopolis is lagging or leading its competitors in the industry. … The company is a real estate industry laggard in terms of its future growth outlook, and is trading relatively in-line with its peers. … If growth and mispricing are important aspects for your investment thesis, there may be better investments in the real estate sector.

Simply Wall St -

Can Technopolis Plc (HEL:TPS1V) Improve Your Portfolio Returns?

A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … TPS1V’s beta indicates it is a stock that investors may find valuable if they want to reduce the overall market risk exposure of their stock portfolio. … As a result, this aspect of TPS1V indicates a higher beta than a similar size company with a lower portion of fixed assets on their balance sheet.

Simply Wall St -

What You Must Know About Technopolis Plc's (HEL:TPS1V) Financial Strength

On top of this, TPS1V has produced €74.38M in operating cash flow in the last twelve months, resulting in an operating cash to total debt ratio of 9.46%, signalling that TPS1V’s debt is not appropriately covered by operating cash. … HLSE:TPS1V Historical Debt May 11th 18 Is TPS1V’s debt level acceptable? … For TPS1V, the ratio of 4.59x suggests that interest is appropriately covered, which means that lenders may be less hesitant to lend out more funding as TPS1V’s high interest coverage is seen as responsible and safe practice.Next Steps: TPS1V’s high debt level indicates room for improvement.

Simply Wall St -

Is Technopolis Plc (HEL:TPS1V) Worth €3.805 Based On Intrinsic Value?

I am going to run you through how I calculated the intrinsic value of Technopolis Plc (HLSE:TPS1V) by taking the foreast future cash flows of the company and discounting them back to today's value. … 5-year cash flow forecast 2018 2019 2020 2021 2022 Levered FCF (€, Millions) €23.00 €43.50 €51.50 €56.05 €61.01 Source Analyst x1 Analyst x2 Analyst x2 Extrapolated @ (8.84%) Extrapolated @ (8.84%) Present Value Discounted @ 13.58% €20.25 €33.72 €35.15 €33.68 €32.28 Present Value of 5-year Cash Flow (PVCF)= €155 We now need to calculate the Terminal Value, which accounts for all the future cash flows after the five years. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = €61 × (1 + 0.8%) ÷ (13.6% – 0.8%) = €480 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = €480 / ( 1 + 13.6%)5 = €254 The total value, or equity value, is then the sum of the present value of the cash flows, which in this case is €409.

Simply Wall St -

Should You Buy Technopolis Plc (HEL:TPS1V) At This PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for TPS1V Price per share = €3.65 Earnings per share = €0.459 ∴ Price-Earnings Ratio = €3.65 ÷ €0.459 = 7.9x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you accidentally compared higher growth firms with TPS1V, then TPS1V’s P/E would naturally be lower since investors would reward its peers’ higher growth with a higher price. … Alternatively, if you inadvertently compared less risky firms with TPS1V, TPS1V’s P/E would again be lower since investors would reward its peers’ lower risk with a higher price as well.

Simply Wall St -

What Do Investors Need To Know About Technopolis Plc's (HEL:TPS1V) Future?

Investors may find it useful to understand how market analysts perceive Technopolis's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … View our latest analysis for Technopolis Market analysts' prospects for the upcoming year seems pessimistic, with earnings declining by a double-digit -15.13%. … To compute this rate, I put a line of best fit through the forecasted earnings by market analysts.

Simply Wall St -

What Is Driving Technopolis Plc's (HEL:TPS1V) Margins In The Future?

To get some insight, I will try to evaluate Technopolis's margin behaviour to assist in analysing the revenue and cost anatomy behind the earnings expectations for the future and the impact it has on shareholder returns relative to the wider industry. … Margin Calculation for TPS1V Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 72.03 Million ÷ 179.73 Million = 40.08% There has been a contraction in Technopolis's margin over the past five years, as a result of 11.41% in average revenue growth outstripping 6.35% in average net income growth, indicating that that a smaller percentage of revenue is being converted in to net income despite the top line growth. … Thus, it is essential to run your own analysis on Technopolis's future expectations whilst maintaining a watchful eye over cost behaviour, because if the business is able to maintain their revenue trajectory, there may be an opportunity to return to positive earnings growth and attractive returns.

Simply Wall St -

Why You Should Be Bearish On Technopolis Plc (HEL:TPS1V)

It's crucial to understand if a company has a strong future based on its current operations and financial status. … Two major red flags for TPS1V are its debt level exceeds equity on its balance sheet, and its cash from its core activities is only enough to cover a mere 9.46% of this large debt amount. … Or the very least, reduce debt to a more prudent level if cash generated from operating activities is insufficient to cushion for potential future headwinds.

Simply Wall St -

TPS1V Company Info

Map
Description

Technopolis Plc develops, owns, and operates business parks that combine services with office space in Finland, Sweden, Norway, Estonia, Russia, and Lithuania. It operates in three segments: Finland, Baltic Rim, and Scandinavia. The company offers workplace services, including Internet and work support, reception, parking and connection, security, cleaning, and maintenance services, as well as workplace design services; work life services comprising meeting, catering, and restaurant and coffee shop services, as well as video conference, wellness, and personal services; and community services. Technopolis Plc was founded in 1982 and is based in Oulu, Finland.

Details
Name: Technopolis Plc
TPS1V
Exchange: HLSE
Founded: 1982
€729,655,768
156,915,219
Website: http://www.technopolis.fi
Address: Technopolis Plc
Elektroniikkatie 8,
Oulu,
Northern Ostrobothnia, 90590,
Finland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HLSE TPS1V Registered Shares OMX Nordic Exchange Helsinki FI EUR 09. Jun 1999
OTCPK TCOS.F Registered Shares Pink Sheets LLC US USD 09. Jun 1999
DB THN Registered Shares Deutsche Boerse AG DE EUR 09. Jun 1999
LSE 0GB6 Registered Shares London Stock Exchange GB EUR 09. Jun 1999
BATS-CHIXE TPS1VH Registered Shares BATS 'Chi-X Europe' GB EUR 09. Jun 1999
Number of employees
Current staff
Staff numbers
229
Technopolis employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/02 18:08
End of day share price update: 2018/11/01 00:00
Last estimates confirmation: 2018/10/26
Last earnings filing: 2018/10/25
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.