Bittium Oyj
Bittium Oyj develops communications and connectivity solutions worldwide. The last earnings update was 95 days ago. More info.
Add to Portfolio Compare Print
BITTI Share Price and Events
7 Day Returns
1 Year Returns
BITTI Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Bittium Oyj (BITTI) | -1.7% | -6.4% | -7.8% | 20.2% | 12.2% | 127.2% |
| FI Software | 0.2% | 0% | -0.2% | -13.3% | -9.5% | -19.7% |
| FI Market | 1.1% | 2.2% | -1.8% | -3.1% | 19.7% | 27.7% |
1 Year Return vs Industry and Market
- BITTI outperformed the Software industry which returned -13.3% over the past year.
- BITTI outperformed the Market in Finland which returned -3.1% over the past year.
BITTI Value
Is Bittium Oyj 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
Bittium Oyj
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Bittium Oyj.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 2 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.7% |
| Perpetual Growth Rate | 10-Year FI Government Bond Rate | 0.5% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year FI Govt Bond Rate | 0.5% |
| Equity Risk Premium | S&P Global | 6.5% |
| Software Unlevered Beta | Simply Wall St/ S&P Global | 1.14 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.139 (1 + (1- 20%) (0.69%)) |
1.097 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.1 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (1.097 * 6.51%) |
7.68% |
Discounted Cash Flow Calculation for HLSE:BITTI using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Bittium Oyj is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (EUR, Millions) | Source |
Present Value Discounted (@ 7.68%) |
|
|---|---|---|---|
| 2019 | -7.50 | Analyst x1 | -6.96 |
| 2020 | 5.30 | Analyst x1 | 4.57 |
| 2021 | 19.70 | Analyst x1 | 15.78 |
| 2022 | 21.00 | Analyst x1 | 15.62 |
| 2023 | 22.40 | Analyst x1 | 15.47 |
| 2024 | 23.45 | Est @ 4.68% | 15.04 |
| 2025 | 24.25 | Est @ 3.44% | 14.45 |
| 2026 | 24.88 | Est @ 2.57% | 13.76 |
| 2027 | 25.37 | Est @ 1.96% | 13.03 |
| 2028 | 25.75 | Est @ 1.53% | 12.28 |
| Present value of next 10 years cash flows | €113.03 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= €25.75 × (1 + 0.54%) ÷ (7.68% – 0.54%) |
€362.48 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €362.48 ÷ (1 + 7.68%)10 |
€172.90 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €113.03 + €172.90 |
€285.93 |
| Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €285.93 / 35.69 |
€8.01 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €8.01 |
| Current discount | Discount to share price of
€6.18
= -1 x (€6.18 - €8.01) / €8.01 |
22.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Bittium Oyj's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Bittium Oyj's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Bittium Oyj's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Bittium Oyj's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in EUR | €0.11 |
| HLSE:BITTI Share Price ** | HLSE (2019-06-20) in EUR | €6.18 |
| Finland Software Industry PE Ratio | Median Figure of 6 Publicly-Listed Software Companies | 55.18x |
| Finland Market PE Ratio | Median Figure of 107 Publicly-Listed Companies | 20.62x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Bittium Oyj.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = HLSE:BITTI Share Price ÷ EPS (both in EUR) = 6.18 ÷ 0.11 |
54.82x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Bittium Oyj is good value based on earnings compared to the FI Software industry average.
- Bittium Oyj is overvalued based on earnings compared to the Finland market.
Price based on expected Growth
Does
Bittium Oyj's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 54.82x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts |
35.1%per year |
| Finland Software Industry PEG Ratio | Median Figure of 5 Publicly-Listed Software Companies | 1.7x |
| Finland Market PEG Ratio | Median Figure of 92 Publicly-Listed Companies | 1.74x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 54.82x ÷ 35.1% |
1.56x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Bittium Oyj is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Bittium Oyj's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in EUR | €3.08 |
| HLSE:BITTI Share Price * | HLSE (2019-06-20) in EUR | €6.18 |
| Finland Software Industry PB Ratio | Median Figure of 13 Publicly-Listed Software Companies | 5.15x |
| Finland Market PB Ratio | Median Figure of 142 Publicly-Listed Companies | 1.99x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = HLSE:BITTI Share Price ÷ Book Value per Share (both in EUR) = 6.18 ÷ 3.08 |
2x |
* Primary Listing of Bittium Oyj.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Bittium Oyj is good value based on assets compared to the FI Software industry average.
Value checks
We assess Bittium Oyj's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Software industry average (and greater than 0)? (1 check) Bittium Oyj has a total score of 3/6, 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.
BITTI Future Performance
How is Bittium Oyj expected to perform in the next 1 to 3 years based on estimates from 2 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!
Earnings growth vs Low Risk Savings
- Bittium Oyj's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
- Bittium Oyj's earnings growth is expected to exceed the Finland market average.
- Bittium Oyj's revenue growth is expected to exceed the Finland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| HLSE:BITTI Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts | 35.1% |
| HLSE:BITTI Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts | 23.1% |
| Finland Software Industry Earnings Growth Rate | Market Cap Weighted Average | 59.1% |
| Finland Software Industry Revenue Growth Rate | Market Cap Weighted Average | 14.7% |
| Finland Market Earnings Growth Rate | Market Cap Weighted Average | 13.6% |
| Finland Market Revenue Growth Rate | Market Cap Weighted Average | 2.1% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (5 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 27 | |||
| 2022-12-31 | 161 | 27 | 20 | 1 |
| 2021-12-31 | 140 | 27 | 17 | 1 |
| 2020-12-31 | 94 | 14 | 11 | 2 |
| 2019-12-31 | 77 | 5 | 7 | 2 |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 63 | -1 | 4 |
| 2018-09-30 | 56 | -6 | 0 |
| 2018-06-30 | 50 | -11 | -3 |
| 2018-03-31 | 51 | -5 | -4 |
| 2017-12-31 | 52 | 0 | -5 |
| 2017-09-30 | 59 | -3 | -2 |
| 2017-06-30 | 60 | -1 | 0 |
| 2017-03-31 | 63 | -6 | 2 |
| 2016-12-31 | 65 | -2 | 4 |
| 2016-09-30 | 61 | 1 | 3 |
| 2016-06-30 | 58 | 3 | 2 |
| 2016-03-31 | 57 | -4 | 2 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (5 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
All data from Bittium Oyj Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | 0.55 | 0.55 | 0.55 | 1.00 |
| 2021-12-31 | 0.48 | 0.48 | 0.48 | 1.00 |
| 2020-12-31 | 0.23 | 0.32 | 0.15 | 2.00 |
| 2019-12-31 | 0.17 | 0.19 | 0.15 | 2.00 |
| Date (Data in EUR Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.11 |
| 2018-09-30 | 0.01 |
| 2018-06-30 | -0.09 |
| 2018-03-31 | -0.11 |
| 2017-12-31 | -0.13 |
| 2017-09-30 | -0.06 |
| 2017-06-30 | 0.01 |
| 2017-03-31 | 0.07 |
| 2016-12-31 | 0.10 |
| 2016-09-30 | 0.08 |
| 2016-06-30 | 0.03 |
| 2016-03-31 | 0.02 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Bittium Oyj's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Finland market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Finland market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Bittium Oyj has a total score of 5/6, 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.
BITTI Past Performance
How has Bittium Oyj 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
Past Earnings growth analysis
- Bittium Oyj's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
- Bittium Oyj has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
- Bittium Oyj has become profitable in the last year making it difficult to compare the Europe Software industry average.
Earnings and Revenue History
All data from Bittium Oyj Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 63.18 | 4.02 | ||
| 2018-09-30 | 56.45 | 0.43 | 1.44 | |
| 2018-06-30 | 49.72 | -3.16 | 2.89 | |
| 2018-03-31 | 51.02 | -3.96 | 2.89 | |
| 2017-12-31 | 52.32 | -4.76 | 2.89 | |
| 2017-09-30 | 58.93 | -2.18 | 4.14 | |
| 2017-06-30 | 60.47 | 0.21 | 2.70 | |
| 2017-03-31 | 63.37 | 2.41 | 2.70 | |
| 2016-12-31 | 64.57 | 3.51 | 2.70 | |
| 2016-09-30 | 60.68 | 3.24 | 2.63 | |
| 2016-06-30 | 57.78 | 2.14 | 2.63 | |
| 2016-03-31 | 56.58 | 1.94 | 2.63 | |
| 2015-12-31 | 56.98 | 2.34 | 2.63 | |
| 2015-09-30 | 57.84 | 3.47 | 2.59 | |
| 2015-06-30 | 56.64 | 4.57 | 2.59 | |
| 2015-03-31 | 53.74 | 2.47 | 2.59 | |
| 2014-12-31 | 52.74 | 1.27 | 2.59 | |
| 2014-09-30 | 96.09 | 4.05 | 8.10 | |
| 2014-06-30 | 131.79 | 3.65 | 8.10 | |
| 2014-03-31 | 167.29 | 5.15 | 8.10 | |
| 2014-01-01 | 199.29 | 6.65 | 8.10 | |
| 2013-09-30 | 188.38 | 1.48 | 7.47 | |
| 2013-06-30 | 184.28 | 2.38 | 7.47 | |
| 2013-03-31 | 177.88 | 1.58 | 7.47 | |
| 2012-12-31 | 174.38 | 1.08 | 7.47 | |
| 2012-09-30 | 161.06 | 2.81 | -62.10 | |
| 2012-06-30 | 156.46 | -1.99 | -39.70 |
*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.
- Bittium Oyj has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Bittium Oyj used its assets less efficiently than the FI Software industry average last year based on Return on Assets.
- Bittium Oyj has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Bittium Oyj's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Bittium Oyj has a total score of 1/6, 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.
BITTI Health
How is Bittium Oyj'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 Bittium Oyj's finances.
The net worth of a company is the difference between its assets and liabilities.
- Bittium Oyj is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Bittium Oyj's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 43.9x 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.
All data from Bittium Oyj Company Filings, last reported 5 months ago.
| Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 110.04 | 1.52 | 30.88 |
| 2018-09-30 | 110.04 | 1.52 | 30.88 |
| 2018-06-30 | 105.20 | 1.20 | 30.60 |
| 2018-03-31 | 105.20 | 1.20 | 30.60 |
| 2017-12-31 | 116.68 | 1.21 | 62.92 |
| 2017-09-30 | 116.68 | 1.21 | 62.92 |
| 2017-06-30 | 118.70 | 1.50 | 73.40 |
| 2017-03-31 | 118.70 | 1.50 | 73.40 |
| 2016-12-31 | 130.62 | 3.15 | 94.92 |
| 2016-09-30 | 129.10 | 1.50 | 106.00 |
| 2016-06-30 | 128.00 | 1.60 | 107.70 |
| 2016-03-31 | 137.70 | 1.50 | 126.00 |
| 2015-12-31 | 137.58 | 1.40 | 122.78 |
| 2015-09-30 | 629.30 | 1.40 | 617.50 |
| 2015-06-30 | 628.79 | 7.39 | 622.06 |
| 2015-03-31 | 97.00 | 8.70 | 50.50 |
| 2014-12-31 | 93.41 | 8.32 | 43.28 |
| 2014-09-30 | 85.90 | 7.30 | 40.70 |
| 2014-06-30 | 83.30 | 13.80 | 30.90 |
| 2014-03-31 | 83.60 | 11.30 | 42.60 |
| 2014-01-01 | 81.73 | 5.28 | 42.98 |
| 2013-09-30 | 90.90 | 16.80 | 44.00 |
| 2013-06-30 | 89.50 | 16.40 | 42.10 |
| 2013-03-31 | 90.20 | 18.80 | 43.50 |
| 2012-12-31 | 66.00 | 18.07 | 14.29 |
| 2012-09-30 | 69.10 | 23.80 | 18.40 |
| 2012-06-30 | 67.40 | 14.30 | 8.60 |
- Bittium Oyj's level of debt (1.4%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (6.5% vs 1.4% today).
- Operating cash flow is negative therefore debt is not well covered.
- Interest payments on debt are well covered by earnings (EBIT is 28.5x coverage).
Financial health checks
We assess Bittium Oyj's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Bittium Oyj has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
BITTI Dividends
What is Bittium Oyj'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
If you bought
€2,000 of
Bittium Oyj
shares you are expected to receive
€49
in your first year as a dividend.
Dividend Amount
- Bittium Oyj's pays a higher dividend yield than the bottom 25% of dividend payers in Finland (2.31%).
- Bittium Oyj's dividend is below the markets top 25% of dividend payers in Finland (5.27%).
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.
| 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 2 Analyst Estimates (S&P Global) | See Below |
| Europe Software Industry Average Dividend Yield | Market Cap Weighted Average of 84 Stocks | 1.3% |
| Finland Market Average Dividend Yield | Market Cap Weighted Average of 100 Stocks | 4.4% |
| Finland Minimum Threshold Dividend Yield | 10th Percentile | 1.4% |
| Finland Bottom 25% Dividend Yield | 25th Percentile | 2.3% |
| Finland Top 25% Dividend Yield | 75th Percentile | 5.3% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in €) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | ||
| 2021-12-31 | 0.25 | 1.00 |
| 2020-12-31 | 0.18 | 2.00 |
| 2019-12-31 | 0.15 | 2.00 |
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-21 | 0.150 | 2.233 |
| 2017-04-12 | 0.300 | 4.981 |
| 2016-02-18 | 0.050 | 0.829 |
| 2015-04-15 | 0.040 | 0.764 |
| 2014-02-20 | 0.020 | 0.656 |
| 2013-04-12 | 0.010 | 0.792 |
| 2009-10-29 | 0.000 | 0.000 |
| 2009-08-07 | 0.000 | 0.000 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Bittium Oyj has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- Dividend payments have increased, but Bittium Oyj only paid a dividend in the past 6 years.
Income/ dividend checks
We assess Bittium Oyj's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.4%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Bittium Oyj afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Bittium Oyj has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
BITTI Management
CEO
| COMPENSATION | €221,148 |
| AGE | 52 |
| TENURE AS CEO | 3.8 years |
CEO Bio
Mr. Hannu Huttunen has been the Chief Executive Officer of Bittium Oyj since August 7, 2015. Mr. Huttunen served as Managing Director and President of Wireless Business Segment at Bittium Technologies Oy since November 1, 2010. Mr. Huttunen served as a Vice President of Wireless Business at EXFO Inc., since March 2010. Prior to joining EXFO, Mr. Huttunen served as the Chief Executive Officer of NetHawk Oyj from 2003 to 2010 and Executive Vice President from 2002 to 2003. Mr. Huttunen began his career in the telecommunications industry at Nokia Mobile Phones in 1995 as Business Controller and Business Line Manager and also served as a Vice President of Special Products from 1998 to 2002 and Vice President of the IP Convergence Business Program since 2002. In this role, he was responsible for driving IP into Nokia’s product portfolio, first developing products and then orchestrating the business system. He has been a Member of the Board at EXFO Inc., since 2008 and Wireless Division leader 2010. Mr. Huttunen holds an MSc in Business Economy from the University of Oulu, Finland and attended several Nokia upper management training programs.
CEO Compensation
- Hannu's compensation has been consistent with company performance over the past year, both up more than 20%.
- Hannu's remuneration is lower than average for companies of similar size in Finland.
Management Team Tenure
Average tenure and age of the Bittium Oyj management team in years:
- The tenure for the Bittium Oyj management team is about average.
Management Team
Hannu Huttunen
Chief Executive Officer
€221K
52
3.8 yrs
Juha Hulkko
Founder & Member of Executive Board
€20K
64
Pekka Kunnari
Chief Financial Officer
51
3.6 yrs
Seppo Laine
Member of Executive Board and External Advisor of the Board
€37K
65
Jorma Halonen
Member of Management Board
€20K
70
Kari Jokela
Chief Legal Officer & Member of Corporate Management Board
49
4.8 yrs
Andreas Heim
Executive Vice President of Operations
3 yrs
Karoliina Fyrstén
Head of Product & Services Areas and Director of Corporate Communications & Marketing
41
3.8 yrs
Sammy Loitto
Senior Vice President of Sales
38
0.7 yrs
Arto Pietilä
Senior Vice President of Medical Technologies Product & Service Area
60
15.4 yrs
Board of Directors Tenure
Average tenure and age of the Bittium Oyj board of directors in years:
- The tenure for the Bittium Oyj board of directors is about average.
Board of Directors
Erkki Veikkolainen
Chairman of the Board
€42K
66
3.8 yrs
Seppo Laine
Member of Executive Board and External Advisor of the Board
€37K
65
Juha Putkiranta
Director
€27K
61
3.8 yrs
Seppo Mäkinen
Director
€24K
66
3.8 yrs
Riitta Tiuraniemi
Director
€22K
56
1.2 yrs
Petri Toljamo
Director
€20K
44
1.2 yrs
Seppo Mäkinen
Member of the Board
€24K
66
4.4 yrs
Pekka Kemppainen
Director
64
0.2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Bittium Oyj's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Bittium Oyj 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.
BITTI News
Simply Wall St News
Is Bittium Oyj's (HEL:BITTI) ROE Of 3.7% Concerning?
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every €1 worth of shareholders' equity, it generated €0.037 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleCalculating The Fair Value Of Bittium Oyj (HEL:BITTI)
I will use the Discounted Cash Flow (DCF) model. … We generally believe that a company's value is the present value of all of the cash it will generate in the future. … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.
Simply Wall St - – Full articleIs Bittium Oyj's (HEL:BITTI) CEO Overpaid Relative To Its Peers?
First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Hannu Huttunen's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Bittium Oyj has a market cap of €236m, and is paying total annual CEO compensation of €288k.
Simply Wall St - – Full articleThe Bittium Oyj (HEL:BITTI) Share Price Is Up 149% And Shareholders Are Boasting About It
One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains. … The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers)
Simply Wall St - – Full articleBrief Commentary On Bittium Oyj's (HEL:BITTI) Fundamentals
Help shape the future of investing tools and receive a $20 prize! … I've been keeping an eye on Bittium Oyj (HEL:BITTI) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe BITTI has a lot to offer.
Simply Wall St - – Full articleHow Much Of Bittium Oyj (HEL:BITTI) Do Insiders Own?
The big shareholder groups in Bittium Oyj (HEL:BITTI) have power over the company. … Generally speaking, as a company grows, institutions will increase their ownership. … Bittium Oyj is not a large company by global standards.
Simply Wall St - – Full articleBittium Oyj (HEL:BITTI) Investors Are Paying Above The Intrinsic Value
by estimating the company's future cash flows and discounting them to their present value. … discounted cash flows (DCF). … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleDoes Bittium Oyj (HEL:BITTI) Go Up With The Market?
For Bittium Oyj’s (HEL:BITTI) shareholders, and also potential investors in the stock, understanding how the stock’s risk and return characteristics can impact your portfolio is important. … Generally, an investor should consider two types of risk that impact the market value of BITTI. … A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one.
Simply Wall St - – Full articleWhy Bittium Oyj's (HEL:BITTI) Ownership Structure Is Important
In this article, I'm going to take a look at Bittium Oyj’s (HEL:BITTI) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Ownership structure of a company has been found to affect share performance over time. … Therefore, it is beneficial for us to examine BITTI's ownership structure in more detail.
Simply Wall St - – Full articleDoes Bittium Oyj (HEL:BITTI) Fall With The Market?
A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … BITTI’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. … BITTI, with its market capitalisation of €202.38M, is a small-cap stock, which generally have higher beta than similar companies of larger size.
Simply Wall St - – Full articleBITTI Company Info
Description
Bittium Oyj develops communications and connectivity solutions worldwide. The company offers Bittium Tough Mobile, Bittium Secure Suite, Bittium Tough Mobile HybridX, Bittium Specialized Device Platform, Bittium SafeMove, Bittium Tactical Wireless IP Network, Bittium Tactical LTE Access Point, Bittium Tough Comnode, and The Bittium Tough SDR product family, as well as Bittium Tough VoIP, Bittium Tough VoIP Field Phone, Terminal, Service, and Softphone in the areas of defense and security. It also provides professional design and technology expertise services for wireless devices, network infrastructure, and Internet of Things solutions. In addition, the company provides medical technology in biosignal measuring for cardiology, neurology, rehabilitation, occupational health, and sports medicine comprising Faros, Cardiac rehabilitation system, NeurOne, BrainStatus, and Cardiac Explorer. The company was formerly known as Elektrobit Oyj and changed its name to Bittium Oyj in July 2015. Bittium Oyj was founded in 1985 and is headquartered in Oulu, Finland.
Details
| Name: | Bittium Oyj |
| BITTI | |
| Exchange: | HLSE |
| Founded: | 1985 |
| €220,583,765 | |
| 35,693,166 | |
| Website: | http://www.bittium.com |
| Address: |
Bittium Oyj Ritaharjuntie 1, Oulu, Northern Ostrobothnia, 90590, Finland |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| HLSE | BITTI | Ordinary Shares | OMX Nordic Exchange Helsinki | FI | EUR | 15. Sep 1998 | |
| DB | JOT | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 15. Sep 1998 | |
| LSE | 0JG5 | Ordinary Shares | London Stock Exchange | GB | EUR | 15. Sep 1998 | |
| BATS-CHIXE | BITTIH | Ordinary Shares | BATS 'Chi-X Europe' | GB | EUR | 15. Sep 1998 |
Number of employees
Current staff
Industry
| Systems Software | |
| Software |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/23 20:48 |
| End of day share price update: | 2019/06/20 00:00 |
| Last estimates confirmation: | 2019/05/21 |
| Last earnings filing: | 2019/03/20 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
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.
