HLSE:ICP1V

Stock Analysis Report

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Executive Summary

Incap Oyj, together with its subsidiaries, provides electronics manufacturing services in Europe, North-America, Asia, Africa, and Australia. More Details


Snowflake Analysis

Undervalued with excellent 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

Stable Share Price: ICP1V's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-21.7%

ICP1V

-6.7%

FI Electronic

-6.7%

FI Market


1 Year Return

-33.6%

ICP1V

14.6%

FI Electronic

-2.6%

FI Market

Return vs Industry: ICP1V underperformed the Finnish Electronic industry which returned 11.8% over the past year.

Return vs Market: ICP1V underperformed the Finnish Market which returned -2.4% over the past year.


Shareholder returns

ICP1VIndustryMarket
7 Day-21.7%-6.7%-6.7%
30 Day-26.4%-3.8%-4.6%
90 Day-16.4%9.4%1.7%
1 Year-22.5%-33.6%17.8%14.6%5.7%-2.6%
3 Year130.6%97.5%53.5%40.2%13.4%-6.5%
5 Year95.3%67.3%200.9%158.5%40.3%10.3%

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?

19.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ICP1V (€13.55) is trading below our estimate of fair value (€16.86)

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 (12.7x) compared to the FI Electronic industry average (24.2x).

PE vs Market: ICP1V is good value based on its PE Ratio (12.7x) compared to the Finnish market (21.9x).


Price to Earnings Growth Ratio

PEG Ratio: ICP1V is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: ICP1V is good value based on its PB Ratio (2.6x) compared to the FI Electronic industry average (2.9x).


Next Steps

Future Growth

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

18.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ICP1V's forecast earnings growth (18% per year) is above the savings rate (0.4%).

Earnings vs Market: ICP1V's earnings (18% per year) are forecast to grow faster than the Finnish market (14.5% per year).

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

Revenue vs Market: ICP1V's revenue (9.1% per year) is forecast to grow faster than the Finnish market (4.6% per year).

High Growth Revenue: ICP1V's revenue (9.1% 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?

28.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ICP1V has high quality earnings.

Growing Profit Margin: ICP1V's current net profit margins (5.7%) are lower than last year (11.5%).


Past Earnings Growth Analysis

Earnings Trend: ICP1V's earnings have grown significantly by 28.7% per year over the past 5 years.

Accelerating Growth: ICP1V's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ICP1V had negative earnings growth (-42.2%) over the past year, making it difficult to compare to the Electronic industry average (-41.8%).


Return on Equity

High ROE: ICP1V's Return on Equity (20.4%) is considered high.


Next Steps

Financial Health

How is Incap Oyj's financial position?


Financial Position Analysis

Short Term Liabilities: ICP1V's short term assets (€45.7M) exceed its short term liabilities (€28.3M).

Long Term Liabilities: ICP1V's short term assets (€45.7M) exceed its long term liabilities (€17.6M).


Debt to Equity History and Analysis

Debt Level: ICP1V's debt to equity ratio (87.9%) is considered high.

Reducing Debt: ICP1V's debt to equity ratio has reduced from 156.7% to 87.9% over the past 5 years.

Debt Coverage: ICP1V's debt is well covered by operating cash flow (30%).

Interest Coverage: ICP1V's interest payments on its debt are well covered by EBIT (12.7x coverage).


Balance Sheet


Next Steps

Dividend

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

2.58%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ICP1V's dividend (2.58%) is higher than the bottom 25% of dividend payers in the Finnish market (2.08%).

High Dividend: ICP1V's dividend (2.58%) is low compared to the top 25% of dividend payers in the Finnish market (4.71%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether ICP1V's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if ICP1V's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.9%), ICP1V's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ICP1V's dividends in 3 years are forecast to be well covered by earnings (23.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure


CEO

Otto Pukk (42 yo)

2.33yrs

Tenure

€210,822

Compensation

Mr. Otto Pukk, M.Sc. (Econ.), 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 s ...


CEO Compensation Analysis

Compensation vs Market: Otto's total compensation ($USD245.68K) is about average for companies of similar size in the Finnish market ($USD330.01K).

Compensation vs Earnings: Otto's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Otto Pukk
CEO & President2.33yrs€210.82kno data
Antti Pynnönen
Chief Financial Officer1.75yrsno datano data
Gregory Grace
Member of Management Board & Director0.92yrno datano data
Murthy Munipalli
Managing Director of Indiano datano datano data
Jari Pirinen
Secretaryno datano datano data
Anu Kaskinen
Secretary7.5yrsno datano data
Elina Liippola
Finance Manager2.75yrsno datano data

2.3yrs

Average Tenure

49yo

Average Age

Experienced Management: ICP1V's management team is considered experienced (2.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kaisa Kokkonen
Independent Director0.50yrno datano data
Päivi Jokinen
Independent Non-Execuve Director2.5yrs€18.33kno data
Ville Vuori
Chairman1.5yrs€31.67kno data
Carl-Gustaf von Troil
Independent Director5.58yrs€23.33k0.93%
€ 550.2k

2.0yrs

Average Tenure

55yo

Average Age

Experienced Board: ICP1V's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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.


Top Shareholders

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: €59.148m
  • Shares outstanding: 4.37m
  • Website: https://incapcorp.com

Number of Employees


Location

  • Incap Oyj
  • Bulevardi 21
  • Helsinki
  • Uusimaa
  • 180
  • 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 Europe, North-America, Asia, Africa, and Australia. The company offers PCB assembly and manufacturing, box-build as ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/30 22:22
End of Day Share Price2020/10/30 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.