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SSH Communications Security Oyj

HLSE:SSH1V
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SSH1V
HLSE
€58M
Market Cap
  1. Home
  2. FI
  3. Software
Company description

SSH Communications Security Oyj provides enterprise cybersecurity solutions for organizations to access, secure, and control data, applications, and services worldwide. The last earnings update was 90 days ago. More info.


Add to Portfolio Compare Print
  • SSH Communications Security Oyj has significant price volatility in the past 3 months.
SSH1V Share Price and Events
7 Day Returns
-0.7%
HLSE:SSH1V
0.1%
FI Software
-0.1%
FI Market
1 Year Returns
-28.4%
HLSE:SSH1V
-8.1%
FI Software
-3.3%
FI Market
SSH1V Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SSH Communications Security Oyj (SSH1V) -0.7% -1.7% 15.5% -28.4% -51.6% -47.5%
FI Software 0.1% 3.2% 1.2% -8.1% -9.4% -20.3%
FI Market -0.1% 1.7% -2.5% -3.3% 17.3% 27.8%
1 Year Return vs Industry and Market
  • SSH1V underperformed the Software industry which returned -8.1% over the past year.
  • SSH1V underperformed the Market in Finland which returned -3.3% over the past year.
Price Volatility
SSH1V
Industry
5yr Volatility vs Market

SSH1V Value

 Is SSH Communications Security 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 SSH Communications Security 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for SSH Communications Security Oyj.

HLSE:SSH1V Discounted Cash Flow Data Sources
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 7.6%
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.

Calculation of Discount Rate/ Cost of Equity for HLSE:SSH1V
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 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.12 (1 + (1- 20%) (1.21%))
1.088
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (1.088 * 6.51%)
7.62%

Discounted Cash Flow Calculation for HLSE:SSH1V using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for SSH Communications Security 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.

HLSE:SSH1V DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.62%)
2020 0.30 Analyst x2 0.28
2021 1.35 Analyst x2 1.17
2022 2.30 Analyst x2 1.85
2023 4.10 Analyst x2 3.06
2024 5.72 Est @ 39.56% 3.96
2025 7.32 Est @ 27.86% 4.71
2026 8.75 Est @ 19.66% 5.24
2027 9.97 Est @ 13.92% 5.54
2028 10.96 Est @ 9.91% 5.66
2029 11.74 Est @ 7.1% 5.63
Present value of next 10 years cash flows €37.09
HLSE:SSH1V DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €11.74 × (1 + 0.54%) ÷ (7.62% – 0.54%)
€166.68
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €166.68 ÷ (1 + 7.62%)10
€79.96
HLSE:SSH1V Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €37.09 + €79.96
€117.05
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €117.05 / 38.80
€3.02
HLSE:SSH1V Discount to Share Price
Calculation Result
Value per share (EUR) From above. €3.02
Current discount Discount to share price of €1.49
= -1 x (€1.49 - €3.02) / €3.02
50.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price SSH Communications Security Oyj is available for.
Intrinsic value
>50%
Share price is €1.49 vs Future cash flow value of €3.02
Current Discount Checks
For SSH Communications Security Oyj to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • SSH Communications Security Oyj's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • SSH Communications Security Oyj's share price is below the future cash flow value, and 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 SSH Communications Security Oyj's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SSH Communications Security Oyj's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
HLSE:SSH1V PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €-0.03
HLSE:SSH1V Share Price ** HLSE (2019-07-16) in EUR €1.49
Finland Software Industry PE Ratio Median Figure of 6 Publicly-Listed Software Companies 53.38x
Finland Market PE Ratio Median Figure of 107 Publicly-Listed Companies 20.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of SSH Communications Security Oyj.

HLSE:SSH1V PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HLSE:SSH1V Share Price ÷ EPS (both in EUR)

= 1.49 ÷ -0.03

-45.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SSH Communications Security Oyj is loss making, we can't compare its value to the FI Software industry average.
  • SSH Communications Security Oyj is loss making, we can't compare the value of its earnings to the Finland market.
Price based on expected Growth
Does SSH Communications Security Oyj's expected growth come at a high price?
Raw Data
HLSE:SSH1V PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -45.36x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
85.4%per year
Finland Software Industry PEG Ratio Median Figure of 5 Publicly-Listed Software Companies 1.77x
Finland Market PEG Ratio Median Figure of 91 Publicly-Listed Companies 1.77x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for SSH Communications Security Oyj, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on SSH Communications Security Oyj's assets?
Raw Data
HLSE:SSH1V PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €0.29
HLSE:SSH1V Share Price * HLSE (2019-07-16) in EUR €1.49
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 2x
HLSE:SSH1V PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HLSE:SSH1V Share Price ÷ Book Value per Share (both in EUR)

= 1.49 ÷ 0.29

5.12x

* Primary Listing of SSH Communications Security Oyj.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SSH Communications Security Oyj is good value based on assets compared to the FI Software industry average.
X
Value checks
We assess SSH Communications Security Oyj's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. SSH Communications Security 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.

SSH1V Future Performance

 How is SSH Communications Security 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!
Annual Growth Rate
85.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SSH Communications Security Oyj expected to grow at an attractive rate?
  • SSH Communications Security Oyj's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • SSH Communications Security Oyj's earnings growth is expected to exceed the Finland market average.
  • SSH Communications Security Oyj's revenue growth is expected to exceed the Finland market average.
Annual Growth Rates Comparison
Raw Data
HLSE:SSH1V Future Growth Rates Data Sources
Data Point Source Value (per year)
HLSE:SSH1V Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 85.4%
HLSE:SSH1V Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 12.1%
Finland Software Industry Earnings Growth Rate Market Cap Weighted Average 58.4%
Finland Software Industry Revenue Growth Rate Market Cap Weighted Average 14.8%
Finland Market Earnings Growth Rate Market Cap Weighted Average 13.7%
Finland Market Revenue Growth Rate Market Cap Weighted Average 2%

*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
Raw Data
HLSE:SSH1V Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
HLSE:SSH1V Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 28 5 1
2022-12-31 25 5 1 2
2021-12-31 22 3 1 2
2020-12-31 19 2 0 2
2019-12-31 17 1 -1 2
HLSE:SSH1V Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 16 1 -1
2018-12-31 18 1 0
2018-09-30 18 1 0
2018-06-30 18 3 0
2018-03-31 18 2 -1
2017-12-31 16 1 -3
2017-09-30 14 -4 -9
2017-06-30 15 -5 -10
2017-03-31 16 -7 -11
2016-12-31 15 -8 -12
2016-09-30 15 -3 -8
2016-06-30 15 -5 -7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SSH Communications Security Oyj's earnings are expected to grow significantly at over 20% yearly.
  • SSH Communications Security Oyj's revenue is expected to grow by 12.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
HLSE:SSH1V Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from SSH Communications Security Oyj Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:SSH1V Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 0.03 0.03 0.03 1.00
2021-12-31 0.02 0.03 0.01 2.00
2020-12-31 0.00 0.00 0.00 2.00
2019-12-31 -0.03 -0.02 -0.03 2.00
HLSE:SSH1V Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 -0.03
2018-12-31 0.00
2018-09-30 -0.01
2018-06-30 -0.01
2018-03-31 -0.04
2017-12-31 -0.09
2017-09-30 -0.25
2017-06-30 -0.30
2017-03-31 -0.33
2016-12-31 -0.36
2016-09-30 -0.23
2016-06-30 -0.22

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • SSH Communications Security Oyj is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess SSH Communications Security Oyj's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Finland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Finland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
SSH Communications Security Oyj has a total score of 4/6, 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.

SSH1V Past Performance

  How has SSH Communications Security 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
Below we compare SSH Communications Security Oyj's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • SSH Communications Security Oyj does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare SSH Communications Security Oyj's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare SSH Communications Security Oyj's 1-year growth to the Europe Software industry average as it is not currently profitable.
Earnings and Revenue History
SSH Communications Security Oyj's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from SSH Communications Security Oyj Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:SSH1V Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 16.24 -1.27 10.88 4.91
2018-12-31 18.34 -0.07 11.28 5.11
2018-09-30 18.23 -0.45 11.49 4.77
2018-06-30 17.93 -0.45 10.79 4.77
2018-03-31 17.93 -1.35 11.20 4.96
2017-12-31 16.23 -3.15 11.00 5.46
2017-09-30 13.92 -8.75 12.49 7.46
2017-06-30 14.52 -10.45 13.59 8.36
2017-03-31 15.62 -11.15 14.09 9.56
2016-12-31 15.12 -11.95 14.49 9.46
2016-09-30 15.37 -8.44 13.78 7.37
2016-06-30 15.27 -6.94 12.88 6.57
2016-03-31 14.67 -6.94 12.38 5.57
2015-12-31 18.87 -4.74 11.68 5.07
2015-09-30 21.31 -1.03 9.82 5.05
2015-06-30 20.91 -0.53 9.42 4.85
2015-03-31 20.11 0.47 8.82 4.35
2014-12-31 16.21 -0.03 8.62 4.05
2014-09-30 13.64 -1.45 8.69 3.97
2014-06-30 13.44 -1.35 8.79 3.47
2014-03-31 13.34 -0.85 8.89 3.17
2013-12-31 13.34 0.15 8.39 2.97
2013-09-30 12.82 -0.06 8.29 2.80
2013-06-30 12.62 0.74 7.89 2.80
2013-03-31 12.22 0.94 7.29 2.80
2012-12-31 11.92 1.14 7.19 2.70
2012-09-30 10.26 0.72 6.64 2.42

*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.
  • It is difficult to establish if SSH Communications Security Oyj has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if SSH Communications Security Oyj has efficiently used its assets last year compared to the FI Software industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if SSH Communications Security Oyj improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess SSH Communications Security Oyj's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
SSH Communications Security Oyj has a total score of 0/6, 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.

SSH1V Health

 How is SSH Communications Security 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 SSH Communications Security Oyj's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • SSH Communications Security Oyj is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • SSH Communications Security Oyj's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of SSH Communications Security Oyj's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 74x 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.
Raw Data

All data from SSH Communications Security Oyj Company Filings, last reported 3 months ago.

HLSE:SSH1V Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 12.10 0.20 12.50
2018-12-31 14.22 0.16 13.46
2018-09-30 12.90 0.20 11.50
2018-06-30 12.20 0.00 11.70
2018-03-31 12.20 0.00 12.60
2017-12-31 12.89 0.00 13.48
2017-09-30 11.50 0.00 11.40
2017-06-30 12.10 0.00 11.60
2017-03-31 5.80 0.00 6.50
2016-12-31 8.27 0.00 7.84
2016-09-30 12.80 0.00 11.40
2016-06-30 15.00 0.00 11.50
2016-03-31 8.60 0.00 8.50
2015-12-31 11.45 0.00 11.30
2015-09-30 12.00 0.00 9.40
2015-06-30 13.40 0.00 11.60
2015-03-31 19.00 0.00 18.90
2014-12-31 7.89 0.00 6.10
2014-09-30 5.60 0.00 3.40
2014-06-30 6.00 0.00 4.50
2014-03-31 6.50 0.00 5.80
2013-12-31 7.43 0.07 5.83
2013-09-30 7.20 0.00 6.50
2013-06-30 7.60 0.00 6.70
2013-03-31 6.30 0.00 7.80
2012-12-31 6.25 0.17 6.61
2012-09-30 1.90 0.00 1.80
  • SSH Communications Security Oyj's level of debt (1.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 1.7% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • SSH Communications Security Oyj has sufficient cash runway for more than 3 years based on current free cash flow.
  • SSH Communications Security Oyj has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of -69.9% each year.
X
Financial health checks
We assess SSH Communications Security Oyj's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. SSH Communications Security Oyj has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

SSH1V Dividends

 What is SSH Communications Security 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
Dividend payments
0%
Current annual income from SSH Communications Security Oyj dividends.
If you bought €2,000 of SSH Communications Security Oyj shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate SSH Communications Security Oyj's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate SSH Communications Security Oyj's dividend against the top 25% market benchmark as the company has not reported any payouts.
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.
Raw Data
HLSE:SSH1V Annualized Past and Future Dividends
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 83 Stocks 1.3%
Finland Market Average Dividend Yield Market Cap Weighted Average of 100 Stocks 4.3%
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 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

HLSE:SSH1V Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
HLSE:SSH1V Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2011-10-19 0.000 0.000
2011-07-20 0.000 0.000
2011-04-20 0.000 0.000
2011-02-15 0.000 0.000
2011-02-02 0.000 0.000
2010-02-25 0.050 5.493
2010-02-03 0.050 5.865
2009-02-26 0.300 40.814
2009-02-04 0.300 31.618

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as SSH Communications Security Oyj has not reported any payouts.
  • Unable to verify if SSH Communications Security Oyj's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of SSH Communications Security Oyj's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as SSH Communications Security Oyj has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess SSH Communications Security Oyj's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can SSH Communications Security Oyj afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SSH Communications Security Oyj has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SSH1V Management

 What is the CEO of SSH Communications Security Oyj's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Kaisa Olkkonen
AGE 55
TENURE AS CEO 2.5 years
CEO Bio

Ms. Kaisa Olkkonen, LL.M., has been the Chief Executive Officer of SSH Communications Security Oyj since January 1, 2017 and served as its Chairman from April 20, 2016 to January 5, 2017. Ms. Olkkonen is an experienced Leader and expert in international business, legal matters, intellectual property and digitalization. She served as Vice President of Nokia Corporation. She has been an Independent Director of Cargotec Corporation since March 2016. She served as a Director of SSH Communications Security Oyj since April 20, 2016. Ms. Olkkonen holds a Master of Law degree from Helsinki University.

CEO Compensation
  • Kaisa's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Kaisa's remuneration is higher than average for companies of similar size in Finland.
Management Team Tenure

Average tenure and age of the SSH Communications Security Oyj management team in years:

1.3
Average Tenure
48
Average Age
  • The average tenure for the SSH Communications Security Oyj management team is less than 2 years, this suggests a new team.
Management Team

Kaisa Olkkonen

TITLE
Chief Executive Officer
AGE
55
TENURE
2.5 yrs

Tatu Ylönen

TITLE
Founder
COMPENSATION
€28K
AGE
51
TENURE
24.5 yrs

Niklas Nordström

TITLE
Chief Financial Officer
AGE
40
TENURE
1.3 yrs

Markku Rossi

TITLE
Chief Technology Officer
AGE
49
TENURE
4.4 yrs

Markku Karppi

TITLE
General Counsel
TENURE
4.5 yrs

Joe Scaff

TITLE
Chief Sales Officer
AGE
38
TENURE
0.6 yrs

Simo Karkkulainen

TITLE
Chief Marketing Officer
AGE
38
TENURE
0.6 yrs

Sami Ahvenniemi

TITLE
Chief Customer Officer
AGE
47
TENURE
0.6 yrs

Jussi Löppönen

TITLE
Head of the NQX Business
AGE
56

Timo Lilja

TITLE
Head of Engineering
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the SSH Communications Security Oyj board of directors in years:

1.3
Average Tenure
49
Average Age
  • The average tenure for the SSH Communications Security Oyj board of directors is less than 3 years, this suggests a new board.
Board of Directors

Petri Kuivala

TITLE
Chairman of the Board
COMPENSATION
€31K
AGE
49
TENURE
1.3 yrs

Sauli Kiuru

TITLE
Vice Chairman of the Board
TENURE
0.1 yrs

Tatu Ylönen

TITLE
Founder
COMPENSATION
€28K
AGE
51
TENURE
24.5 yrs

Timo Syrjälä

TITLE
Director
COMPENSATION
€28K
AGE
61
TENURE
4.8 yrs

Sam Curry

TITLE
Director
COMPENSATION
€23K
AGE
47
TENURE
1.3 yrs

Anne Zettlemoyer

TITLE
Director
COMPENSATION
€23K
AGE
39
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess SSH Communications Security Oyj's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. SSH Communications Security 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.

SSH1V News

Simply Wall St News

Did Changing Sentiment Drive SSH Communications Security Oyj's (HEL:SSH1V) Share Price Down A Worrying 54%?

But the last three years have been particularly tough on longer term SSH Communications Security Oyj (HEL:SSH1V) shareholders. … See our latest analysis for SSH Communications Security Oyj SSH Communications Security Oyj isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … Over three years, SSH Communications Security Oyj grew revenue at 7.0% per year.

Simply Wall St -

Is There An Opportunity With SSH Communications Security Oyj's (HEL:SSH1V) 44% Undervaluation?

Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (€, Millions) €-1.30 €0.30 €1.35 €2.30 €4.10 €5.72 €7.32 €8.75 €9.97 €10.96 Growth Rate Estimate Source Analyst x2 Analyst x2 Analyst x2 Analyst x2 Analyst x2 Est @ 39.56% Est @ 27.86% Est @ 19.66% Est @ 13.92% Est @ 9.91% Present Value (€, Millions) Discounted @ 7.71% €-1.21 €0.26 €1.08 €1.71 €2.83 €3.67 €4.35 €4.83 €5.11 €5.22 Present Value of 10-year Cash Flow (PVCF)= €27.85m "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = €11m × (1 + 0.5%) ÷ (7.7% – 0.5%) = €154m Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = €€154m ÷ ( 1 + 7.7%)10 = €73.22m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is €101.07m. … HLSE:SSH1V Intrinsic value, June 25th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

What Type Of Shareholder Owns SSH Communications Security Oyj's (HEL:SSH1V)?

Check out our latest analysis for SSH Communications Security Oyj HLSE:SSH1V Ownership Summary, June 7th 2019 What Does The Institutional Ownership Tell Us About SSH Communications Security Oyj? … We can see that SSH Communications Security Oyj does have institutional investors; and they hold 10% of the stock. … Private Company Ownership It seems that Private Companies own 4.0%, of the SSH1V stock.

Simply Wall St -

Imagine Owning SSH Communications Security Oyj (HEL:SSH1V) While The Price Tanked 57%

Because SSH Communications Security Oyj is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … When a company doesn't make profits, we'd generally expect to see good revenue growth. … Over three years, SSH Communications Security Oyj grew revenue at 4.5% per year.

Simply Wall St -

Is SSH Communications Security Oyj (HEL:SSH1V) A Volatile Stock?

Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

Does SSH Communications Security Oyj's (HEL:SSH1V) February Stock Price Reflect Its Future Growth?

SSH Communications Security Oyj (HEL:SSH1V) closed yesterday at €1.705, which left some investors asking whether the high earnings potential can still be justified at this price. … View our latest analysis for SSH Communications Security Oyj? … If you are bullish about SSH Communications Security Oyj's growth potential then you are certainly not alone

Simply Wall St -

Do Directors Own SSH Communications Security Oyj (HEL:SSH1V) Shares?

A look at the shareholders of SSH Communications Security Oyj (HEL:SSH1V) can tell us which group is most powerful. … With a market capitalization of €71m, SSH Communications Security Oyj is a small cap stock, so it might not be well known by many institutional investors. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

Is SSH Communications Security Oyj (HEL:SSH1V) A Financially Sound Company?

The direct benefit for SSH Communications Security Oyj (HEL:SSH1V), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … However, the trade-off is SSH1V will have to adhere to stricter debt covenants and have less financial flexibility. … Is SSH1V growing fast enough to value financial flexibility over lower cost of capital.

Simply Wall St -

When Should You Buy SSH Communications Security Oyj (HEL:SSH1V)?

This high level of volatility gives investors the opportunity to enter into the stock, and potentially buy at an artificially low price? … A question to answer is whether SSH Communications Security Oyj's current trading price of €2.01 reflective of the actual value of the? … Let’s take a look at SSH Communications Security Oyj’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Is SSH Communications Security Oyj (HEL:SSH1V) Undervalued?

SSH Communications Security Oyj (HLSE:SSH1V), a software company based in Finland, saw a double-digit share price rise of over 10% in the past couple of months on the HLSE. … It’s trading around 19% above my intrinsic value, which means if you buy SSH Communications Security Oyj today, you’d be paying a relatively fair price for it. … Since SSH Communications Security Oyj’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy.

Simply Wall St -

SSH1V Company Info

Description

SSH Communications Security Oyj provides enterprise cybersecurity solutions for organizations to access, secure, and control data, applications, and services worldwide. Its products include PrivX that offers credentialless, role-based on demand access for multi-cloud, containers, and serverless; CryptoAuditor, which provides transparent monitoring and control of encrypted remote access; Universal SSH Key Manager for SSH key and certificate management; Tectia SSH that offers Secure file transfer, remote administration, application tunneling, and automation for server environments; and NQX Firewall for the protection of government and other high-security applications. The company was founded in 1995 and is headquartered in Helsinki, Finland.

Details
Name: SSH Communications Security Oyj
SSH1V
Exchange: HLSE
Founded: 1995
€57,815,327
38,802,233
Website: http://www.ssh.com
Address: SSH Communications Security Oyj
Kornetintie 8,
Helsinki,
Uusimaa, 00380,
Finland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HLSE SSH1V Ordinary Shares OMX Nordic Exchange Helsinki FI EUR 20. Dec 2000
LSE 0MKQ Ordinary Shares London Stock Exchange GB EUR 20. Dec 2000
Number of employees
Current staff
Staff numbers
88
SSH Communications Security Oyj employees.
Industry
Systems Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 20:39
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/06/11
Last earnings filing: 2019/04/17
Last earnings reported: 2019/03/31
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.