Bittium Oyj Future Growth
Future criteria checks 5/6
Bittium Oyj is forecast to grow earnings and revenue by 21.1% and 18% per annum respectively. EPS is expected to grow by 21.1% per annum. Return on equity is forecast to be 20.8% in 3 years.
Key information
21.1%
Earnings growth rate
21.09%
EPS growth rate
| Software earnings growth | 21.6% |
| Revenue growth rate | 18.0% |
| Future return on equity | 20.75% |
| Analyst coverage | Low |
| Last updated | 30 Apr 2026 |
Recent future growth updates
Recent updates
Narrative Update • Apr 20
BITTI: NATO Supply Role And Special Dividend Will Not Sustain Elevated P/E
Analysts have kept their price target on Bittium Oyj broadly steady, with only a marginal adjustment implied by their updated inputs as they refine assumptions around the discount rate, revenue growth and future P/E outlook. What's in the News Bittium and Telia have implemented a hybrid network for the Finnish Defence Forces that links Bittium’s tactical communications with Telia’s 5G network.Narrative Update • Apr 05
BITTI: Defence Contracts And NATO Deal Will Support But Not Justify Elevated P/E
Analysts have lifted their price target for Bittium Oyj by €2.07 to €33.80. This reflects updated views on fair value, discount rate assumptions, revenue growth, profit margin expectations and future P/E levels.Narrative Update • Mar 21
BITTI: Defence Agreements And 2026 Guidance Will Support But Not Fully Justify High P/E
Analysts have maintained their price target for Bittium Oyj at approximately €31.73. They cite stable assumptions for fair value, revenue growth, profit margins and future P/E, with only minor adjustments to the discount rate and long-term expectations.Narrative Update • Mar 07
BITTI: Defence Contracts And Guidance Will Support But Not Fully Justify High P/E
Analysts have kept their €31.73 price target for Bittium Oyj unchanged. They cite largely stable assumptions on fair value, discount rate, revenue growth, profit margin and future P/E as the basis for maintaining their view.Narrative Update • Feb 21
BITTI: Defence Contracts And Guidance Will Support But Not Fully Justify High P/E
Analysts have raised their price target for Bittium Oyj to €31.73 from €29.57, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News Bittium announced an annual dividend of €0.15 per share, with an ex date on April 23, 2026, a record date on April 24, 2026, and payment on May 4, 2026 (Key Developments).Analysis Article • Feb 13
Returns On Capital At Bittium Oyj (HEL:BITTI) Have Stalled
What are the early trends we should look for to identify a stock that could multiply in value over the long term...Narrative Update • Feb 07
BITTI: NATO And Defence Contracts Will Still Not Justify High P/E
Analysts have kept their fair value estimate for Bittium Oyj steady at €29.57, with only small technical adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions shaping this narrative update. What's in the News Bittium entered a Basic Ordering Agreement with the NATO Communications and Information Agency, making the company a preferred supplier of secure mobile devices, software and accessories for NATO members and enabling faster procurement of its Commercial Off The Shelf solutions (Client Announcements).Narrative Update • Jan 24
BITTI: Raised 2025 Guidance And Defense Orders Will Still Not Justify P/E
Analysts have raised their price target for Bittium Oyj to €29.57 from €22.40, citing updates to their models that reflect revised assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News Bittium raised its 2025 earnings guidance, now estimating net sales of €116 million to €120 million and operating profit of €19 million to €21 million, compared with previous guidance of net sales of €95 million to €105 million and operating profit of €10 million to €13 million (Key Developments).Narrative Update • Jan 08
BITTI: Raised Earnings Outlook And Defense Orders Will Still Not Justify Rich P/E
Analysts have lifted their price target on Bittium Oyj to €22.40 from €20.73, citing updated assumptions around revenue growth, profit margins and the future P/E multiple as key drivers of the change. What's in the News Bittium Corporation raised its 2025 earnings guidance, now estimating net sales of €116m to €120m and operating profit of €19m to €21m, compared with earlier guidance of net sales of €95m to €105m and operating profit of €10m to €13m (Corporate Guidance).Analysis Article • Dec 29
Bittium Oyj (HEL:BITTI) Stocks Shoot Up 38% But Its P/S Still Looks Reasonable
Bittium Oyj ( HEL:BITTI ) shares have continued their recent momentum with a 38% gain in the last month alone. This...Narrative Update • Dec 24
BITTI: Defense Contract Momentum Will Likely Fail To Justify Rich Earnings Multiple
Analysts have nudged their price target on Bittium Oyj higher by approximately €1.00 per share, citing a modestly lower discount rate, slightly stronger long term profit margins, and a marginally richer future earnings multiple that together more than offset a small trim to projected revenue growth. What's in the News Bittium Wireless secured approximately EUR 15.9 million in purchase orders from the Finnish Defence Forces for Tough SDR Handheld and Vehicular radios, related accessories, and software and services, with deliveries and development scheduled for 2025 to 2026 (Key Developments).Narrative Update • Dec 09
BITTI: Embedded AI Expansion And Stable Outlook Are Expected To Support Momentum
Analysts have modestly lifted their price target on Bittium Oyj to €19.73 from €19.73, citing a slightly higher discount rate and stable expectations for revenue growth, profit margins, and future valuation multiples. What's in the News Bittium reaffirmed its 2025 earnings guidance, targeting net sales of EUR 95 million to EUR 105 million versus EUR 85.2 million in 2024, and an operating result of EUR 10 million to EUR 13 million compared to EUR 8.6 million in 2024 (company guidance).Narrative Update • Nov 25
BITTI: Future Security Offerings And Revenue Outlook Are Expected To Support Momentum
Analysts have raised their price target for Bittium Oyj from €17.85 to €19.73. This increase reflects their more optimistic outlook on future revenue growth and valuation multiples, despite a slight decrease in profit margin projections.Analysis Article • Nov 14
Bittium Oyj's (HEL:BITTI) 53% Jump Shows Its Popularity With Investors
Despite an already strong run, Bittium Oyj ( HEL:BITTI ) shares have been powering on, with a gain of 53% in the last...Narrative Update • Nov 10
BITTI: Future Offerings And Security Initiatives Are Expected To Sustain Momentum
Analysts have raised their fair value price target for Bittium Oyj from €14.50 to €17.85, citing updated modeling assumptions and increased confidence in the company's growth outlook. What's in the News Bittium Oyj reaffirmed its earnings guidance for 2025, projecting net sales of EUR 95 million to EUR 105 million and an operating result of EUR 10 million to EUR 13 million.Narrative Update • Oct 27
Next Generation Security Devices Will Drive Demand For Secured Connectivity
Analysts have raised their price target for Bittium Oyj from €10.50 to €14.50, citing improved revenue growth expectations, even though profit margin projections have softened slightly and the discount rate is marginally lower. What's in the News Bittium Oyj reaffirmed its 2025 earnings guidance, projecting net sales of EUR 95 million to EUR 105 million and an operating result of EUR 10 million to EUR 13 million (Key Developments).Analysis Article • Oct 15
Estimating The Fair Value Of Bittium Oyj (HEL:BITTI)
Key Insights The projected fair value for Bittium Oyj is €11.50 based on 2 Stage Free Cash Flow to Equity Bittium Oyj's...Analysis Article • Sep 30
Bittium Oyj's (HEL:BITTI) P/S Is Still On The Mark Following 26% Share Price Bounce
Bittium Oyj ( HEL:BITTI ) shares have continued their recent momentum with a 26% gain in the last month alone. The...Analysis Article • Aug 16
We Think Bittium Oyj's (HEL:BITTI) Profit Is Only A Baseline For What They Can Achieve
HLSE:BITTI 1 Year Share Price vs Fair Value Explore Bittium Oyj's Fair Values from the Community and select yours...Analysis Article • Jul 20
Optimistic Investors Push Bittium Oyj (HEL:BITTI) Shares Up 32% But Growth Is Lacking
Bittium Oyj ( HEL:BITTI ) shareholders have had their patience rewarded with a 32% share price jump in the last month...Analysis Article • Apr 17
Investors Will Want Bittium Oyj's (HEL:BITTI) Growth In ROCE To Persist
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want...Analysis Article • Mar 18
There's Reason For Concern Over Bittium Oyj's (HEL:BITTI) Massive 32% Price Jump
Bittium Oyj ( HEL:BITTI ) shares have had a really impressive month, gaining 32% after a shaky period beforehand...
New Narrative • Feb 23
Increased Defense Demand And Regulatory Streamlining Will Boost Future Prospects
Strong growth in Defense & Security due to geopolitical factors and strategic partnerships promises improved sales and operating profits.Analysis Article • Aug 14
Bittium Oyj Just Missed Earnings - But Analysts Have Updated Their Models
Bittium Oyj ( HEL:BITTI ) missed earnings with its latest second-quarter results, disappointing overly-optimistic...Analysis Article • Aug 11
Capital Allocation Trends At Bittium Oyj (HEL:BITTI) Aren't Ideal
What financial metrics can indicate to us that a company is maturing or even in decline? A business that's potentially...Analysis Article • Jun 26
Bittium Oyj's (HEL:BITTI) 26% Price Boost Is Out Of Tune With Revenues
Despite an already strong run, Bittium Oyj ( HEL:BITTI ) shares have been powering on, with a gain of 26% in the last...Analysis Article • May 22
Would Bittium Oyj (HEL:BITTI) Be Better Off With Less Debt?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Apr 06
Bittium Oyj's (HEL:BITTI) Shares Climb 30% But Its Business Is Yet to Catch Up
Bittium Oyj ( HEL:BITTI ) shareholders have had their patience rewarded with a 30% share price jump in the last month...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 221 | 41 | 35 | 48 | 4 |
| 12/31/2027 | 183 | 34 | 29 | 40 | 4 |
| 12/31/2026 | 150 | 25 | 27 | 36 | 4 |
| 12/31/2025 | 120 | 21 | 7 | 15 | N/A |
| 9/30/2025 | 105 | 14 | 15 | 23 | N/A |
| 6/30/2025 | 90 | 6 | 23 | 31 | N/A |
| 3/31/2025 | 88 | 7 | 20 | 28 | N/A |
| 12/31/2024 | 85 | 7 | 18 | 24 | N/A |
| 9/30/2024 | 81 | 4 | 10 | 17 | N/A |
| 6/30/2024 | 78 | 0 | 2 | 9 | N/A |
| 3/31/2024 | 77 | -2 | -2 | 5 | N/A |
| 12/31/2023 | 76 | -5 | -7 | 1 | N/A |
| 9/30/2023 | 76 | -4 | -9 | -1 | N/A |
| 6/30/2023 | 77 | -3 | -12 | -3 | N/A |
| 3/31/2023 | 80 | -1 | -6 | 3 | N/A |
| 12/31/2022 | 83 | 0 | 0 | 8 | N/A |
| 9/30/2022 | 93 | 4 | -3 | 11 | N/A |
| 6/30/2022 | 89 | 4 | 6 | 13 | N/A |
| 3/31/2022 | 88 | 4 | 3 | 11 | N/A |
| 12/31/2021 | 87 | 3 | 0 | 8 | N/A |
| 9/30/2021 | 79 | 0 | -7 | 9 | N/A |
| 6/30/2021 | 76 | -1 | -5 | 8 | N/A |
| 3/31/2021 | 77 | 0 | -7 | 7 | N/A |
| 12/31/2020 | 79 | 2 | -9 | 7 | N/A |
| 9/30/2020 | 84 | 7 | -7 | 12 | N/A |
| 6/30/2020 | 85 | 9 | -6 | 11 | N/A |
| 3/31/2020 | 80 | 8 | -7 | 10 | N/A |
| 12/31/2019 | 75 | 8 | -9 | 10 | N/A |
| 9/30/2019 | 66 | 5 | N/A | 5 | N/A |
| 6/30/2019 | 68 | 6 | N/A | 9 | N/A |
| 3/31/2019 | 66 | 5 | N/A | 4 | N/A |
| 12/31/2018 | 63 | 4 | N/A | -1 | N/A |
| 9/30/2018 | 58 | 0 | N/A | -6 | N/A |
| 6/30/2018 | 54 | -3 | N/A | -11 | N/A |
| 3/31/2018 | 53 | -4 | N/A | -5 | N/A |
| 12/31/2017 | 52 | -5 | N/A | 0 | N/A |
| 9/30/2017 | 59 | -2 | N/A | -3 | N/A |
| 6/30/2017 | 60 | 0 | N/A | -1 | N/A |
| 3/31/2017 | 63 | 2 | N/A | -6 | N/A |
| 12/31/2016 | 65 | 4 | N/A | -2 | N/A |
| 9/30/2016 | 61 | 3 | N/A | 1 | N/A |
| 6/30/2016 | 58 | 2 | N/A | 3 | N/A |
| 3/31/2016 | 57 | 2 | N/A | -4 | N/A |
| 12/31/2015 | 57 | 2 | N/A | 2 | N/A |
| 9/30/2015 | 58 | 3 | N/A | 7 | N/A |
| 6/30/2015 | 57 | 5 | N/A | 25 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BITTI's forecast earnings growth (21.1% per year) is above the savings rate (2.3%).
Earnings vs Market: BITTI's earnings (21.1% per year) are forecast to grow faster than the Finnish market (13.4% per year).
High Growth Earnings: BITTI's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: BITTI's revenue (18% per year) is forecast to grow faster than the Finnish market (4.6% per year).
High Growth Revenue: BITTI's revenue (18% 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 high in 3 years time (20.8%)
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/08 21:13 |
| End of Day Share Price | 2026/05/08 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Bittium Oyj is covered by 5 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Daniel Lepisto | Danske Bank |
| Juha Kinnunen | Inderes Oy |
| Martti Larjo | Nordea Markets |