HLSE:BITTI

Stock Analysis Report

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Executive Summary

Bittium Oyj develops and offers solutions for connectivity, tactical communications, and biosignal measuring and monitoring worldwide. More Details


Snowflake Analysis

Flawless balance sheet with proven track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: BITTI is not significantly more volatile than the rest of Finnish stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: BITTI's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

-4.4%

BITTI

-7.6%

FI Software

-2.0%

FI Market


1 Year Return

17.3%

BITTI

105.2%

FI Software

16.7%

FI Market

Return vs Industry: BITTI underperformed the Finnish Software industry which returned 105.5% over the past year.

Return vs Market: BITTI exceeded the Finnish Market which returned 15.3% over the past year.


Shareholder returns

BITTIIndustryMarket
7 Day-4.4%-7.6%-2.0%
30 Day-3.8%12.0%-2.4%
90 Day24.2%21.7%3.4%
1 Year17.3%17.3%105.5%105.2%25.1%16.7%
3 Year28.7%19.5%142.1%138.4%34.6%11.3%
5 Year43.4%21.2%29.3%23.1%73.3%35.0%

Long-Term Price Volatility Vs. Market

How volatile is Bittium Oyj's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

32.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BITTI (€6.51) is trading above our estimate of fair value (€6.33)

Significantly Below Fair Value: BITTI is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BITTI is good value based on its PE Ratio (32.6x) compared to the FI Software industry average (40.5x).

PE vs Market: BITTI is poor value based on its PE Ratio (32.6x) compared to the Finnish market (27.8x).


Price to Earnings Growth Ratio

PEG Ratio: BITTI is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: BITTI is good value based on its PB Ratio (2x) compared to the FI Software industry average (10.8x).


Next Steps

Future Growth

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

36.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BITTI's forecast earnings growth (36.8% per year) is above the savings rate (0.3%).

Earnings vs Market: BITTI's earnings (36.8% per year) are forecast to grow faster than the Finnish market (19.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BITTI's revenue (15.8% per year) is forecast to grow faster than the Finnish market (3.5% per year).

High Growth Revenue: BITTI's revenue (15.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BITTI's Return on Equity is forecast to be low in 3 years time (9.4%).


Next Steps

Past Performance

How has Bittium Oyj performed over the past 5 years?

29.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BITTI has high quality earnings.

Growing Profit Margin: BITTI's current net profit margins (8.4%) are higher than last year (6.9%).


Past Earnings Growth Analysis

Earnings Trend: BITTI's earnings have grown significantly by 29.7% per year over the past 5 years.

Accelerating Growth: BITTI's earnings growth over the past year (54.9%) exceeds its 5-year average (29.7% per year).

Earnings vs Industry: BITTI earnings growth over the past year (54.9%) underperformed the Software industry 202.4%.


Return on Equity

High ROE: BITTI's Return on Equity (6.1%) is considered low.


Next Steps

Financial Health

How is Bittium Oyj's financial position?


Financial Position Analysis

Short Term Liabilities: BITTI's short term assets (€78.6M) exceed its short term liabilities (€25.7M).

Long Term Liabilities: BITTI's short term assets (€78.6M) exceed its long term liabilities (€21.7M).


Debt to Equity History and Analysis

Debt Level: BITTI's debt to equity ratio (17.3%) is considered satisfactory.

Reducing Debt: BITTI had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: BITTI's debt is well covered by operating cash flow (58.2%).

Interest Coverage: BITTI's interest payments on its debt are well covered by EBIT (215.4x coverage).


Balance Sheet


Next Steps

Dividend

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

2.56%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate BITTI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BITTI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BITTI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BITTI's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: BITTI is not paying a notable dividend for the Finnish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BITTI's dividend in 3 years as they are not forecast to pay a notable one for the Finnish market.


Next Steps

Management

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

5.5yrs

Average management tenure


CEO

Hannu Huttunen (54 yo)

5.5yrs

Tenure

€334,000

Compensation

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 s...


CEO Compensation Analysis

Compensation vs Market: Hannu's total compensation ($USD404.11K) is about average for companies of similar size in the Finnish market ($USD405.24K).

Compensation vs Earnings: Hannu's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Hannu Huttunen
Chief Executive Officer5.5yrs€334.00k0.028%
€ 67.0k
Juha Hulkko
Founder & Member of Executive Boardno data€20.00k4.22%
€ 10.1m
Pekka Kunnari
Chief Financial Officer5.25yrsno data0.0084%
€ 20.1k
Seppo Laine
Member of Executive Board and External Advisor of the Boardno data€37.00kno data
Jorma Halonen
Member of Management Boardno data€20.00kno data
Andreas Heim
Executive Vice President of Operations4.67yrsno datano data
Kari Jokela
Chief Legal Officer6.42yrsno data0.0031%
€ 7.4k
Karoliina Malmi
Vice President of Communications & Marketing5.5yrsno data0.0045%
€ 10.7k
Sammy Loitto
Senior Vice President of Sales2.33yrsno data0.00056%
€ 1.3k
Arto Pietilä
Senior Vice President of Medical Technologies17.08yrsno data0.22%
€ 536.0k
Raimo Partanen
Deputy Managing Director of Elektrobit Automation Ltd16.17yrsno datano data
Juhani Rönkkö
Auditor with Chief Responsibility of Auditsno datano datano data

5.5yrs

Average Tenure

54yo

Average Age

Experienced Management: BITTI's management team is seasoned and experienced (5.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Seppo Laine
Member of Executive Board and External Advisor of the Boardno data€37.00kno data
Seppo Makinen
Independent Member of the Board6.08yrs€23.35k0.012%
€ 28.9k
Pekka Kemppainen
Independent Director1.83yrs€20.57kno data
Erkki Veikkolainen
Independent Chairman of the Board5.42yrs€42.61k4.22%
€ 10.1m
Riitta Tiuraniemi
Independent Director2.83yrs€27.55k0.0040%
€ 9.6k
Veli-Pekka Paloranta
Director0.67yrno datano data
Juha Putkiranta
Independent Director5.42yrs€27.15k0.040%
€ 95.9k

4.1yrs

Average Tenure

66yo

Average Age

Experienced Board: BITTI's board of directors are considered experienced (4.1 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.


Top Shareholders

Company Information

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


Key Information

  • Name: Bittium Oyj
  • Ticker: BITTI
  • Exchange: HLSE
  • Founded: 1985
  • Industry: Systems Software
  • Sector: Software
  • Market Cap: €239.144m
  • Shares outstanding: 35.69m
  • Website: https://www.bittium.com

Number of Employees


Location

  • Bittium Oyj
  • Ritaharjuntie 1
  • Oulu
  • Northern Ostrobothnia
  • 90590
  • Finland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BITTIHLSE (OMX Nordic Exchange Helsinki)YesOrdinary SharesFIEURSep 1998
0JG5LSE (London Stock Exchange)YesOrdinary SharesGBEURSep 1998
JOTDB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 1998
BITTIHBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURSep 1998

Biography

Bittium Oyj develops and offers solutions for connectivity, tactical communications, and biosignal measuring and monitoring worldwide. The company offers information security solutions for mobile devices a...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/26 19:16
End of Day Share Price2021/02/26 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.