Bittium Oyj
Market Cap
€249.5m
Last Updated
2020/01/27 20:47 UTC
Data Sources
Company Financials +
Executive Summary
Bittium Oyj develops communications and connectivity solutions worldwide.
Snowflake Analysis
High growth potential with excellent balance sheet.
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 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-7.7%
BITTI
-2.1%
FI Software
-3.0%
FI Market
1 Year Return
-10.6%
BITTI
19.8%
FI Software
8.2%
FI Market
Return vs Industry: BITTI underperformed the Finnish Software industry which returned 26.3% over the past year.
Return vs Market: BITTI underperformed the Finnish Market which returned 12.5% over the past year.
Shareholder returns
| BITTI | Industry | Market | |
|---|---|---|---|
| 7 Day | -7.7% | -2.1% | -3.0% |
| 30 Day | 11.3% | 8.2% | 1.1% |
| 90 Day | 12.2% | 22.3% | 4.5% |
| 1 Year | -8.7%-10.6% | 20.6%19.8% | 13.1%8.2% |
| 3 Year | 24.2%10.0% | 14.6%10.2% | 31.1%15.4% |
| 5 Year | 95.2%63.5% | 6.4%-0.3% | 49.3%20.8% |
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
1 week ago | Simply Wall St
Does Bittium Oyj's (HEL:BITTI) CEO Pay Compare Well With Peers?4 weeks ago | Simply Wall St
With A Return On Equity Of 6.0%, Has Bittium Oyj's (HEL:BITTI) Management Done Well?2 months ago | Simply Wall St
Does Bittium Oyj's (HEL:BITTI) Share Price Gain of 74% Match Its Business Performance?Valuation
Is Bittium Oyj undervalued compared to its fair value and its price relative to the market?
37.93x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: BITTI (€7.1) is trading above our estimate of fair value (€6.5)
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 (40.1x) compared to the Software industry average (57.1x).
PE vs Market: BITTI is poor value based on its PE Ratio (40.1x) compared to the Finnish market (20.8x).
Price to Earnings Growth Ratio
PEG Ratio: BITTI is poor value based on its PEG Ratio (1.2x)
Price to Book Ratio
PB vs Industry: BITTI is good value based on its PB Ratio (2.4x) compared to the FI Software industry average (5.9x).
Next Steps
Future Growth
How is Bittium Oyj forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
33.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BITTI's forecast earnings growth (33.8% per year) is above the savings rate (-0.1%).
Earnings vs Market: BITTI's earnings (33.8% per year) are forecast to grow faster than the Finnish market (14.6% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: BITTI's revenue (23.7% per year) is forecast to grow faster than the Finnish market (1.9% per year).
High Growth Revenue: BITTI's revenue (23.7% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if BITTI's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Bittium Oyj performed over the past 5 years?
-14.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BITTI has high quality earnings.
Growing Profit Margin: BITTI became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: BITTI's earnings have declined by -14.1% per year over the past 5 years.
Accelerating Growth: BITTI has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: BITTI has become profitable in the last year, making it difficult to compare its past year earnings growth to the Software industry (7.3%).
Return on Equity
High ROE: BITTI's Return on Equity (6%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Bittium Oyj's financial position?
Financial Position Analysis
Short Term Liabilities: BITTI's short term assets (€75.7M) exceed its short term liabilities (€21.8M).
Long Term Liabilities: BITTI's short term assets (€75.7M) exceed its long term liabilities (€22.3M).
Debt to Equity History and Analysis
Debt Level: BITTI's debt to equity ratio (19.9%) is considered satisfactory.
Reducing Debt: BITTI's debt to equity ratio has increased from 12% to 19.9% over the past 5 years.
Debt Coverage: BITTI's debt is well covered by operating cash flow (41.3%).
Interest Coverage: BITTI's interest payments on its debt are well covered by EBIT (18x coverage).
Balance Sheet
Inventory Level: BITTI has a high level of physical assets or inventory.
Debt Coverage by Assets: BITTI's debt is covered by short term assets (assets are 3.6x debt).
Next Steps
Dividend
What is Bittium Oyj's current dividend yield, its reliability and sustainability?
2.23%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: BITTI's dividend (2.08%) is higher than the bottom 25% of dividend payers in the Finnish market (2.06%).
High Dividend: BITTI's dividend (2.11%) is low compared to the top 25% of dividend payers in the Finnish market (4.68%).
Stability and Growth of Payments
Stable Dividend: BITTI has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: BITTI's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (28.2%), BITTI's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BITTI's dividends in 3 years are forecast to be well covered by earnings (47.3% payout ratio).
Next Steps
Management
What is the CEO of Bittium Oyj's salary, the management and board of directors tenure and is there insider trading?
4.4yrs
Average management tenure
CEO
Hannu Huttunen (53yo)
4.4yrs
Tenure
€221,148
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 ($USD246.02K) is below average for companies of similar size in the Finnish market ($USD581.82K).
Compensation vs Earnings: Hannu's compensation has been consistent with company performance over the past year.
Management Age and Tenure
4.4yrs
Average Tenure
53yo
Average Age
Experienced Management: BITTI's management team is considered experienced (4.4 years average tenure).
Board Age and Tenure
3.0yrs
Average Tenure
65yo
Average Age
Experienced Board: BITTI's board of directors are considered experienced (3 years average tenure).
Insider Trading
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.
Management Team
Pekka Kunnari (52yo)
Chief Financial Officer
- Tenure: 4.2yrs
Jorma Halonen (71yo)
Member of Management Board
- Compensation: €20.00k
Juha Hulkko (65yo)
Founder & Member of Executive Board
- Compensation: €20.00k
Seppo Laine (66yo)
Member of Executive Board and External Advisor of the Board
- Compensation: €37.00k
Arto Pietilä (61yo)
Senior Vice President of Medical Technologies Product & Service Area
- Tenure: 16yrs
Hannu Huttunen (53yo)
Chief Executive Officer
- Tenure: 4.4yrs
- Compensation: €221.15k
Karoliina Fyrstén (42yo)
Head of Product & Services Areas and Director of Corporate Communications & Marketing
- Tenure: 4.4yrs
Kari Jokela (50yo)
Chief Legal Officer & Member of Corporate Management Board
- Tenure: 5.3yrs
Andreas Heim
Executive Vice President of Operations
- Tenure: 3.6yrs
Sammy Loitto (39yo)
Senior Vice President of Sales
- Tenure: 1.3yrs
Board Members
Seppo Mäkinen (67yo)
Member of the Board
- Tenure: 5yrs
- Compensation: €24.13k
Pekka Kemppainen (65yo)
Independent Director
- Tenure: 0.8yrs
Seppo Laine (66yo)
Member of Executive Board and External Advisor of the Board
- Compensation: €37.00k
Erkki Veikkolainen (67yo)
Chairman of the Board
- Tenure: 4.3yrs
- Compensation: €42.22k
Riitta Tiuraniemi (57yo)
Independent Director
- Tenure: 1.8yrs
- Compensation: €21.73k
Juha Putkiranta (62yo)
Independent Director
- Tenure: 4.3yrs
- Compensation: €26.53k
Petri Toljamo (45yo)
Independent Director
- Tenure: 1.8yrs
- Compensation: €20.13k
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: €249.495m
- Shares outstanding: 35.69m
- Website: https://www.bittium.com
Number of Employees
Location
- Bittium Oyj
- Ritaharjuntie 1
- Oulu
- Northern Ostrobothnia
- 90590
- Finland
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BITTI | HLSE (OMX Nordic Exchange Helsinki) | Yes | Ordinary Shares | FI | EUR | Sep 1998 |
| 0JG5 | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Sep 1998 |
| JOT | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Sep 1998 |
| BITTIH | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Sep 1998 |
Biography
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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/27 20:47 |
| End of Day Share Price | 2020/01/27 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.