HLSE:ICP1V

Stock Analysis Report

Executive Summary

Incap Oyj, together with its subsidiaries, provides electronics manufacturing services in Finland, Estonia, India, and Hong Kong.

Snowflake

Fundamentals

Outstanding track record with flawless balance sheet.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-3.6%

ICP1V

4.1%

FI Electronic

1.6%

FI Market


1 Year Return

162.0%

ICP1V

28.8%

FI Electronic

9.2%

FI Market

Return vs Industry: ICP1V exceeded the Finnish Electronic industry which returned 28.8% over the past year.

Return vs Market: ICP1V exceeded the Finnish Market which returned 9.2% over the past year.


Shareholder returns

ICP1VIndustryMarket
7 Day-3.6%4.1%1.6%
30 Day-7.7%8.1%1.5%
90 Day34.9%11.9%1.8%
1 Year162.0%162.0%32.6%28.8%14.4%9.2%
3 Year257.4%257.4%82.3%68.8%29.9%14.4%
5 Year1033.3%574.5%182.1%140.7%61.2%30.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

11.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ICP1V (€18.55) is trading below our estimate of fair value (€21.07)

Significantly Below Fair Value: ICP1V is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ICP1V is good value based on its PE Ratio (10x) compared to the Electronic industry average (11.3x).

PE vs Market: ICP1V is good value based on its PE Ratio (10x) compared to the Finnish market (20.2x).


Price to Earnings Growth Ratio

PEG Ratio: ICP1V is poor value based on its PEG Ratio (2.7x)


Price to Book Ratio

PB vs Industry: ICP1V is overvalued based on its PB Ratio (4x) compared to the FI Electronic industry average (3.4x).


Next Steps

Future Growth

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

3.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ICP1V's forecast earnings growth (3.7% per year) is above the savings rate (0.5%).

Earnings vs Market: ICP1V's earnings (3.7% per year) are forecast to grow slower than the Finnish market (13.5% per year).

High Growth Earnings: ICP1V's earnings are forecast to grow, but not significantly.

Revenue vs Market: ICP1V's revenue (6.8% per year) is forecast to grow faster than the Finnish market (2% per year).

High Growth Revenue: ICP1V's revenue (6.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ICP1V's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Incap Oyj performed over the past 5 years?

51.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ICP1V has become profitable over the past 5 years, growing earnings by 51% per year.

Accelerating Growth: ICP1V's earnings growth over the past year (120%) exceeds its 5-year average (51% per year).

Earnings vs Industry: ICP1V earnings growth over the past year (120%) exceeded the Electronic industry 16.5%.


Return on Equity

High ROE: ICP1V's Return on Equity (39.8%) is considered high.


Return on Assets

ROA vs Industry: ICP1V has a higher Return on Assets than the Electronic industry average last year.


Return on Capital Employed

ROCE Improving: ICP1V has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Incap Oyj's financial position?


Financial Position Analysis

Short Term Liabilities: ICP1V's short term assets (€26.8M) exceeds its short term liabilities (€11.6M)

Long Term Liabilities: ICP1V's short term assets (26.8M) exceeds its long term liabilities (3.7M)


Debt to Equity History and Analysis

Debt Level: ICP1V's debt to equity ratio (27.8%) is considered satisfactory

Reducing Debt: ICP1V's debt to equity ratio has reduced from 10198.9% to 27.8% over the past 5 years.

Debt Coverage: ICP1V's debt is well covered by operating cash flow (144.3%).

Interest Coverage: ICP1V's interest payments on its debt are well covered by EBIT (21.4x coverage).


Balance Sheet

Inventory Level: ICP1V has a high level of physical assets or inventory.

Debt Coverage by Assets: ICP1V's debt is covered by short term assets (assets are 4.741760x debt).


Next Steps

Dividend

What is Incap Oyj's current dividend yield, its reliability and sustainability?

3.23%

Forecast Dividend Yield


Dividend Yield vs Market

companyn/amarketbottom25%2.3%markettop25%5.0%industryaverage2.3%forecastin3Years3.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate ICP1V's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ICP1V's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if ICP1V's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ICP1V's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ICP1V's dividend in 3 years as they are not forecast to pay a notable one for the Finnish market.


Next Steps

Management

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

1.5yrs

Average management tenure


CEO

Otto Pukk (41yo)

1.3yrs

Tenure

€130,639

Compensation

Mr. Otto Pukk, M.Sc., B.E has been Chief Executive Officer of Incap Oyj (Alternate Name: Incap Corp) since September 18, 2018 and its President. Mr. Pukk serves as Managing Director of Estonia, a subsidiar ...


CEO Compensation Analysis

Compensation vs. Market: Otto has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the Finnish market.

Compensation vs Earnings: Insufficient data to compare Otto's compensation with company performance.


Management Age and Tenure

1.5yrs

Average Tenure

48yo

Average Age

Experienced Management: ICP1V's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Age and Tenure

1.5yrs

Average Tenure

51yo

Average Age

Experienced Board: ICP1V's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.


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


Management Team

  • Jari Pirinen

    Secretary

    • Tenure: 0yrs
  • Murthy Munipalli (55yo)

    Director of Operaons India & Sales Asia and MD of Indian Subsidiary

    • Tenure: 0yrs
  • Anu Kaskinen

    Secretary

    • Tenure: 6.5yrs
  • Elina Liippola (59yo)

    Finance Manager

    • Tenure: 1.8yrs
  • Otto Pukk (41yo)

    CEO & President

    • Tenure: 1.3yrs
    • Compensation: €130.64k
  • Antti Pynnönen (37yo)

    Chief Financial Officer

    • Tenure: 0.8yrs

Board Members

  • Päivi Jokinen (51yo)

    Independent Non-Execuve Director

    • Tenure: 1.5yrs
  • Ville Vuori (46yo)

    Director

    • Tenure: 1.5yrs
  • Carl-Gustaf von Troil (65yo)

    Independent Chairman of the Board

    • Tenure: 1.5yrs

Company Information

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


Key Information

  • Name: Incap Oyj
  • Ticker: ICP1V
  • Exchange: HLSE
  • Founded: 1985
  • Industry: Electronic Manufacturing Services
  • Sector: Tech
  • Market Cap: €80.974m
  • Shares outstanding: 4.37m
  • Website: https://incapcorp.com

Number of Employees


Location

  • Incap Oyj
  • Mannerheimintie 113
  • 5th Floor
  • Helsinki
  • Uusimaa
  • 280
  • Finland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ICP1VHLSE (OMX Nordic Exchange Helsinki)YesShare CapitalFIEURMay 1997
0ERYLSE (London Stock Exchange)YesShare CapitalGBEURMay 1997
ICP1VHBATS-CHIXE (BATS 'Chi-X Europe')YesShare CapitalGBEURMay 1997

Biography

Incap Oyj, together with its subsidiaries, provides electronics manufacturing services in Finland, Estonia, India, and Hong Kong. The company offers PCB assembly and manufacturing, box-build assembly, and  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 20:38
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.