Qt Group Oyj Future Growth
Future criteria checks 3/6
Qt Group Oyj is forecast to grow earnings and revenue by 15.1% and 7.9% per annum respectively. EPS is expected to grow by 15.1% per annum. Return on equity is forecast to be 14.8% in 3 years.
Key information
15.1%
Earnings growth rate
15.09%
EPS growth rate
| Software earnings growth | 21.6% |
| Revenue growth rate | 7.9% |
| Future return on equity | 14.83% |
| Analyst coverage | Low |
| Last updated | 28 Apr 2026 |
Recent future growth updates
Recent updates
Narrative Update • Apr 23
QTCOM: Future Margin Discipline Will Support Upside Despite Recent Downgrade
Analysts have trimmed their fair value estimate for Qt Group Oyj from €29.25 to €27.00, citing updated assumptions for growth, profitability and P/E, as well as a more cautious stance reflected in recent research. Analyst Commentary Recent research has become more cautious on Qt Group Oyj, with at least one downgrade reinforcing a more conservative stance on valuation and execution.Narrative Update • Apr 08
QTCOM: Long Term Margin Delivery Will Support Recalibrated Upside Potential
Analysts have trimmed their price outlook for Qt Group Oyj, cutting the average target by €0.07 to €29.25. They are factoring in a slightly lower assumed P/E multiple alongside modest tweaks to the discount rate and long term margin and growth inputs, following more cautious research commentary including a recent downgrade from Danske Bank.Narrative Update • Mar 25
QTCOM: Execution On Long Term Roadmap Will Support Recalibrated Upside
Analysts have trimmed their 12 month price target on Qt Group Oyj by €0.01 to €29.25, citing a slightly higher discount rate and modestly adjusted long term assumptions following recent bearish Street research, including a downgrade from Danske Bank. Analyst Commentary Analysts are responding to the recent downgrade and slightly higher discount rate by sharpening their focus on both upside potential and execution risks around Qt Group Oyj.Narrative Update • Mar 11
QTCOM: Earnings Guidance And Testing Wins Will Support Recalibrated Upside
Analysts have trimmed their price target for Qt Group Oyj from €35.50 to €29.25, citing updated assumptions for slower revenue growth, lower profit margins, a higher discount rate and a modestly higher future P/E multiple, consistent with the more cautious tone in recent research such as Danske Bank's downgrade. Analyst Commentary Bullish Takeaways Bullish analysts still see support for Qt Group Oyj's valuation from its role in software tools, where successful execution on product roadmap and licensing could justify a higher future P/E multiple over time.Narrative Update • Feb 25
QTCOM: Testing Software Adoption Will Support Recalibrated Upside Despite Lower P/E Premium
Analysts have slightly reduced their price target for Qt Group Oyj from €36.25 to €35.50, citing updated assumptions around revenue growth, profit margins, and a lower future P/E multiple following recent Street research, including a downgrade from Danske Bank. Analyst Commentary Bullish Takeaways Bullish analysts note that the revised €35.50 target still implies confidence that Qt Group Oyj can execute on its current business plan, even with more cautious assumptions baked into the model.
New Narrative • Feb 13
Embedded Software Shift And IAR Integration Will Support Stronger Long Term Prospects
Catalysts About Qt Group Oyj Qt Group Oyj provides development tools and quality assurance products for building complex embedded software and graphical user interfaces. What are the underlying business or industry changes driving this perspective?Narrative Update • Feb 11
QTCOM: Safety And Testing Software Will Support Recalibrated Upside Potential
Analysts have trimmed their price target for Qt Group Oyj to €36.25 from €44.75, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E, as reflected in recent, more cautious research commentary. Analyst Commentary Recent research has taken a more cautious stance on Qt Group Oyj, reflected in the lower price target and a downgrade in rating.
New Narrative • Jan 30
Embedded License Pressure And Testing Cuts Will Eventually Reward Long Term Patience
Catalysts About Qt Group Oyj Qt Group Oyj provides tools and frameworks for developing and testing embedded software and graphical user interfaces across multiple industries. What are the underlying business or industry changes driving this perspective?Narrative Update • Jan 27
QTCOM: Safety Software And Testing Automation Wins Will Support Future Upside
Analysts have kept their price target for Qt Group Oyj broadly in line with prior estimates, reflecting only very small tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions, rather than a material change in their valuation view. What's in the News Komatsu has adopted Qt Group's Squish platform to automate GUI testing for display screens in equipment used across more than 190 countries, aiming to improve testing efficiency and quality assurance at scale (Key Developments).Narrative Update • Jan 12
QTCOM: Expanded Chip Partnerships Will Support Future Edge Computing Upside
Analysts now keep their fair value estimate for Qt Group Oyj steady at €44.75, indicating only minimal tweaks in assumptions such as the discount rate and future P/E, rather than a shift in their core view of the company. What's in the News Qt Group launched a new Axivion 7.11 feature that automatically checks whether NVIDIA CUDA based code follows established safety and security rules, aiming to help developers in areas like self driving cars, medical scanners, and robotics build compliant applications more efficiently (Product related announcement).Narrative Update • Dec 21
QTCOM: Expanded Chip Partnerships Will Drive Future Edge Computing Upside
Analysts have nudged their price target on Qt Group Oyj slightly higher to EUR 44.75 from EUR 44.75. This reflects marginal improvements in the discount rate and long term valuation assumptions, despite largely unchanged growth and profitability forecasts.Narrative Update • Dec 07
QTCOM: Expanded Auto And Embedded Partnerships Will Drive Future Upside Potential
Analysts have modestly reduced their price target for Qt Group Oyj, now expecting approximately €44.75 per share. Slightly higher discount rate assumptions have offset upgraded forecasts for revenue growth and profit margins.Narrative Update • Nov 23
QTCOM: Upcoming Partnerships And AI Device Expansion Will Drive Future Performance
Narrative Update on Qt Group Oyj Analysts have revised their price target for Qt Group Oyj downward from €55.33 to €44.75, citing updates to fair value estimates and financial projections. What's in the News Qt Group launched a tool in Axivion 7.11 to automate checks for NVIDIA CUDA coding safety rules, helping developers in safety-critical industries build compliant applications more efficiently (Key Developments).Analysis Article • Nov 11
Qt Group Oyj (HEL:QTCOM) May Have Run Too Fast Too Soon With Recent 25% Price Plummet
Qt Group Oyj ( HEL:QTCOM ) shareholders that were waiting for something to happen have been dealt a blow with a 25...Narrative Update • Nov 06
QTCOM: Expanded Partnerships Will Drive Long-Term Gains Despite Short-Term Margin Pressure
Analysts have lowered their price target for Qt Group Oyj from €58 to approximately €55.33. They cited revised expectations around profit margins and future growth assumptions.Narrative Update • Oct 23
Analysts Lower Qt Group Price Target as Growth Outlook Dims Amid Strategic Developments
Analysts have revised their price target for Qt Group Oyj downward from €69 to €58. They cite a modest decrease in expected revenue growth and profit margins, despite a stable discount rate and a higher projected future P/E ratio.Analysis Article • Sep 17
Is There An Opportunity With Qt Group Oyj's (HEL:QTCOM) 47% Undervaluation?
Key Insights Using the 2 Stage Free Cash Flow to Equity, Qt Group Oyj fair value estimate is €86.33 Qt Group Oyj is...Narrative Update • Aug 22
Embedded Device And IoT Demand Will Unlock Future Opportunities
The downward revision in Qt Group Oyj’s consensus analyst price target primarily reflects a decline in future P/E expectations, resulting in a lowered fair value estimate from €73.00 to €69.00. What's in the News Qt Group Plc reaffirmed 2025 earnings guidance, expecting net sales to increase by 10% to 20% year-on-year at comparable exchange rates.Analysis Article • Aug 08
Qt Group Oyj's (HEL:QTCOM) Share Price Is Still Matching Investor Opinion Despite 25% Slump
Qt Group Oyj ( HEL:QTCOM ) shareholders won't be pleased to see that the share price has had a very rough month...Narrative Update • Aug 07
Embedded Device And IoT Demand Will Unlock Future Opportunities
Despite an improvement in revenue growth forecasts, a sharp decline in the future P/E ratio has led analysts to lower their consensus price target for Qt Group Oyj from €81.00 to €75.50. What's in the News Qt Group Plc reaffirmed earnings guidance for 2025, expecting net sales to increase by 10% to 20% year-on-year at comparable exchange rates.Analysis Article • Jun 28
Should You Investigate Qt Group Oyj (HEL:QTCOM) At €57.00?
Qt Group Oyj ( HEL:QTCOM ), might not be a large cap stock, but it saw significant share price movement during recent...Analysis Article • May 26
Under The Bonnet, Qt Group Oyj's (HEL:QTCOM) Returns Look Impressive
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to...Analysis Article • Apr 27
Qt Group Oyj Just Missed Earnings - But Analysts Have Updated Their Models
The analysts might have been a bit too bullish on Qt Group Oyj ( HEL:QTCOM ), given that the company fell short of...Analysis Article • Apr 25
The Price Is Right For Qt Group Oyj (HEL:QTCOM) Even After Diving 28%
The Qt Group Oyj ( HEL:QTCOM ) share price has fared very poorly over the last month, falling by a substantial 28...Analysis Article • Apr 03
Shareholders May Not Be So Generous With Qt Group Oyj's (HEL:QTCOM) CEO Compensation And Here's Why
Key Insights Qt Group Oyj to hold its Annual General Meeting on 9th of April Salary of €412.0k is part of CEO Juha...
New Narrative • Mar 15
Expanding QA Business And Partnerships With Infineon And LG Will Drive Future Growth
Significant investment in QA business and M&A activities suggests future growth through software testing tools and expanded product portfolio.Analysis Article • Mar 08
Impressive Earnings May Not Tell The Whole Story For Qt Group Oyj (HEL:QTCOM)
Despite posting some strong earnings, the market for Qt Group Oyj's ( HEL:QTCOM ) stock hasn't moved much. We did some...Analysis Article • Mar 02
Qt Group Oyj (HEL:QTCOM) Has A Rock Solid Balance Sheet
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Feb 18
Qt Group Oyj Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
It's been a pretty great week for Qt Group Oyj ( HEL:QTCOM ) shareholders, with its shares surging 15% to €90.15 in the...Analysis Article • Feb 03
Should You Be Adding Qt Group Oyj (HEL:QTCOM) To Your Watchlist Today?
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...Analysis Article • Jan 20
At €78.00, Is It Time To Put Qt Group Oyj (HEL:QTCOM) On Your Watch List?
While Qt Group Oyj ( HEL:QTCOM ) might not have the largest market cap around , it saw a decent share price growth of...Analysis Article • Jan 03
Why The 34% Return On Capital At Qt Group Oyj (HEL:QTCOM) Should Have Your Attention
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things...Analysis Article • Dec 05
Is Qt Group Oyj (HEL:QTCOM) Trading At A 38% Discount?
Key Insights Using the 2 Stage Free Cash Flow to Equity, Qt Group Oyj fair value estimate is €114 Qt Group Oyj's €71.15...Analysis Article • Nov 05
Qt Group Oyj (HEL:QTCOM) Stocks Pounded By 25% But Not Lagging Market On Growth Or Pricing
Qt Group Oyj ( HEL:QTCOM ) shares have had a horrible month, losing 25% after a relatively good period beforehand...Analysis Article • Nov 03
Does Qt Group Oyj (HEL:QTCOM) Deserve A Spot On Your Watchlist?
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...Analysis Article • Sep 28
Is Now An Opportune Moment To Examine Qt Group Oyj (HEL:QTCOM)?
While Qt Group Oyj ( HEL:QTCOM ) might not have the largest market cap around , it saw a significant share price rise...Analysis Article • Sep 17
Qt Group Oyj's (HEL:QTCOM) Share Price Matching Investor Opinion
Qt Group Oyj's ( HEL:QTCOM ) price-to-earnings (or "P/E") ratio of 49.7x might make it look like a strong sell right...Analysis Article • Sep 06
Does Qt Group Oyj (HEL:QTCOM) Have A Healthy Balance Sheet?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Analysis Article • Aug 26
Qt Group Oyj (HEL:QTCOM) Shares Could Be 29% Below Their Intrinsic Value Estimate
Key Insights The projected fair value for Qt Group Oyj is €134 based on 2 Stage Free Cash Flow to Equity Qt Group Oyj...Analysis Article • Aug 11
Qt Group Oyj Just Beat EPS By 23%: Here's What Analysts Think Will Happen Next
It's been a pretty great week for Qt Group Oyj ( HEL:QTCOM ) shareholders, with its shares surging 15% to €88.55 in the...Analysis Article • Aug 07
Qt Group Oyj (HEL:QTCOM) Is Very Good At Capital Allocation
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Analysis Article • Jun 14
Here's Why We Think Qt Group Oyj (HEL:QTCOM) Is Well Worth Watching
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...Analysis Article • Jun 03
Is Now An Opportune Moment To Examine Qt Group Oyj (HEL:QTCOM)?
Qt Group Oyj ( HEL:QTCOM ), is not the largest company out there, but it saw a double-digit share price rise of over...Analysis Article • May 22
Is There An Opportunity With Qt Group Oyj's (HEL:QTCOM) 25% Undervaluation?
Key Insights Qt Group Oyj's estimated fair value is €112 based on 2 Stage Free Cash Flow to Equity Qt Group Oyj's...Analysis Article • Apr 23
Qt Group Oyj's (HEL:QTCOM) P/E Is On The Mark
When close to half the companies in Finland have price-to-earnings ratios (or "P/E's") below 17x, you may consider Qt...Analysis Article • Apr 11
Qt Group Oyj (HEL:QTCOM) Could Easily Take On More Debt
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 275 | 43 | 55 | 60 | 4 |
| 12/31/2027 | 253 | 30 | 45 | 50 | 4 |
| 12/31/2026 | 238 | 20 | 34 | 39 | 4 |
| 12/31/2025 | 216 | 32 | 39 | 40 | N/A |
| 9/30/2025 | 208 | 42 | 52 | 53 | N/A |
| 6/30/2025 | 209 | 48 | 54 | 55 | N/A |
| 3/31/2025 | 211 | 55 | 52 | 53 | N/A |
| 12/31/2024 | 209 | 57 | 52 | 54 | N/A |
| 9/30/2024 | 200 | 46 | 38 | 39 | N/A |
| 6/30/2024 | 196 | 44 | 45 | 46 | N/A |
| 3/31/2024 | 186 | 39 | 42 | 43 | N/A |
| 12/31/2023 | 181 | 35 | 39 | 40 | N/A |
| 9/30/2023 | 173 | 31 | 37 | 38 | N/A |
| 6/30/2023 | 170 | 33 | 24 | 25 | N/A |
| 3/31/2023 | 164 | 35 | 4 | 5 | N/A |
| 12/31/2022 | 155 | 34 | -5 | -4 | N/A |
| 9/30/2022 | 141 | 27 | N/A | N/A | N/A |
| 6/30/2022 | 133 | 24 | -3 | -2 | N/A |
| 3/31/2022 | 129 | 22 | N/A | N/A | N/A |
| 12/31/2021 | 121 | 22 | 15 | 16 | N/A |
| 9/30/2021 | 108 | 21 | N/A | N/A | N/A |
| 6/30/2021 | 100 | 21 | 16 | 17 | N/A |
| 3/31/2021 | 84 | 15 | N/A | N/A | N/A |
| 12/31/2020 | 79 | 13 | 12 | 13 | N/A |
| 9/30/2020 | 73 | 8 | N/A | N/A | N/A |
| 6/30/2020 | 68 | 4 | 11 | 11 | N/A |
| 3/31/2020 | 64 | 2 | N/A | N/A | N/A |
| 12/31/2019 | 58 | 0 | 6 | 6 | N/A |
| 9/30/2019 | 53 | -2 | N/A | N/A | N/A |
| 6/30/2019 | 49 | -3 | N/A | 0 | N/A |
| 3/31/2019 | 48 | -2 | N/A | N/A | N/A |
| 12/31/2018 | 46 | -2 | N/A | -1 | N/A |
| 9/30/2018 | 45 | -2 | N/A | N/A | N/A |
| 6/30/2018 | 43 | -2 | N/A | -1 | N/A |
| 3/31/2018 | 38 | -3 | N/A | N/A | N/A |
| 12/31/2017 | 36 | -3 | N/A | -3 | N/A |
| 9/30/2017 | 35 | -3 | N/A | N/A | N/A |
| 6/30/2017 | 34 | -2 | N/A | -1 | N/A |
| 3/31/2017 | 34 | -3 | N/A | N/A | N/A |
| 12/31/2016 | 32 | -2 | N/A | -1 | N/A |
| 9/30/2016 | 31 | -2 | N/A | N/A | N/A |
| 6/30/2016 | 30 | -1 | N/A | N/A | N/A |
| 3/31/2016 | 28 | 1 | N/A | 1 | N/A |
| 12/31/2015 | 27 | 1 | N/A | 1 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: QTCOM's forecast earnings growth (15.1% per year) is above the savings rate (2.3%).
Earnings vs Market: QTCOM's earnings (15.1% per year) are forecast to grow faster than the Finnish market (13.4% per year).
High Growth Earnings: QTCOM's earnings are forecast to grow, but not significantly.
Revenue vs Market: QTCOM's revenue (7.9% per year) is forecast to grow faster than the Finnish market (4.6% per year).
High Growth Revenue: QTCOM's revenue (7.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: QTCOM's Return on Equity is forecast to be low in 3 years time (14.8%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/08 16:00 |
| 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 |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| 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.
Analysis Model and Snowflake
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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
Qt Group Oyj is covered by 8 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 |
|---|---|
| Matti Riikonen | Carnegie Investment Bank AB |
| Waltteri Rossi | Danske Bank |
| Matti Riikonen | DNB Carnegie |