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Finnair Oyj

HLSE:FIA1S
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FIA1S
HLSE
€1B
Market Cap
  1. Home
  2. FI
  3. Transportation
Company description

Finnair Oyj provides passenger and cargo airline services to various destinations between Asia and Europe. The last earnings update was 61 days ago. More info.


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FIA1S Share Price and Events
7 Day Returns
1.8%
HLSE:FIA1S
8%
Europe Airlines
-1%
FI Market
1 Year Returns
-31.6%
HLSE:FIA1S
-15.6%
Europe Airlines
2.9%
FI Market
FIA1S Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Finnair Oyj (FIA1S) 1.8% -0.5% 15.4% -31.6% 56.8% 193.1%
Europe Airlines 8% 0.7% 5.9% -15.6% 11% 23%
FI Market -1% -1% 6.5% 2.9% 22.1% 36.7%
1 Year Return vs Industry and Market
  • FIA1S underperformed the Airlines industry which returned -15.6% over the past year.
  • FIA1S underperformed the Market in Finland which returned 2.9% over the past year.
Price Volatility
FIA1S
Industry
5yr Volatility vs Market

Value

 Is Finnair 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 Finnair 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 Finnair Oyj.

HLSE:FIA1S Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
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:FIA1S
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FI Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.5%
Airlines Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.888 (1 + (1- 20%) (63.8%))
1.228
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (1.228 * 6.51%)
8.54%

Discounted Cash Flow Calculation for HLSE:FIA1S using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Finnair 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:FIA1S DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.54%)
2019 -17.00 Analyst x2 -15.66
2020 105.00 Analyst x2 89.13
2021 101.50 Analyst x2 79.39
2022 99.25 Est @ -2.21% 71.52
2023 97.88 Est @ -1.39% 64.99
2024 97.09 Est @ -0.81% 59.39
2025 96.69 Est @ -0.4% 54.50
2026 96.58 Est @ -0.12% 50.15
2027 96.65 Est @ 0.08% 46.24
2028 96.86 Est @ 0.22% 42.70
Present value of next 10 years cash flows €542.35
HLSE:FIA1S DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €96.86 × (1 + 0.54%) ÷ (8.54% – 0.54%)
€1,217.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,217.92 ÷ (1 + 8.54%)10
€536.89
HLSE:FIA1S Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €542.35 + €536.89
€1,079.24
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,079.24 / 127.58
€8.46
HLSE:FIA1S Discount to Share Price
Calculation Result
Value per share (EUR) From above. €8.46
Current discount Discount to share price of €8.30
= -1 x (€8.30 - €8.46) / €8.46
1.9%

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

Current Discount
Amount off the current price Finnair Oyj is available for.
Intrinsic value
2%
Share price is €8.3 vs Future cash flow value of €8.46
Current Discount Checks
For Finnair Oyj to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Finnair Oyj's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Finnair Oyj's share price is below the future cash flow value, but not 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 Finnair Oyj's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Finnair Oyj's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
HLSE:FIA1S PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €1.08
HLSE:FIA1S Share Price ** HLSE (2019-04-17) in EUR €8.3
Europe Airlines Industry PE Ratio Median Figure of 14 Publicly-Listed Airlines Companies 8.37x
Finland Market PE Ratio Median Figure of 109 Publicly-Listed Companies 19.94x

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

** Primary Listing of Finnair Oyj.

HLSE:FIA1S PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HLSE:FIA1S Share Price ÷ EPS (both in EUR)

= 8.3 ÷ 1.08

7.68x

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

  • Finnair Oyj is good value based on earnings compared to the Europe Airlines industry average.
  • Finnair Oyj is good value based on earnings compared to the Finland market.
Price based on expected Growth
Does Finnair Oyj's expected growth come at a high price?
Raw Data
HLSE:FIA1S PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
0.3%per year
Europe Airlines Industry PEG Ratio Median Figure of 12 Publicly-Listed Airlines Companies 0.74x
Finland Market PEG Ratio Median Figure of 92 Publicly-Listed Companies 1.73x

*Line of best fit is calculated by linear regression .

HLSE:FIA1S PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.68x ÷ 0.3%

25.43x

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

  • Finnair Oyj is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Finnair Oyj's assets?
Raw Data
HLSE:FIA1S PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €8.01
HLSE:FIA1S Share Price * HLSE (2019-04-17) in EUR €8.3
Europe Airlines Industry PB Ratio Median Figure of 17 Publicly-Listed Airlines Companies 1.55x
Finland Market PB Ratio Median Figure of 142 Publicly-Listed Companies 2.04x
HLSE:FIA1S PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HLSE:FIA1S Share Price ÷ Book Value per Share (both in EUR)

= 8.3 ÷ 8.01

1.04x

* Primary Listing of Finnair Oyj.

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

  • Finnair Oyj is good value based on assets compared to the Europe Airlines industry average.
X
Value checks
We assess Finnair 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 Airlines 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 Airlines industry average (and greater than 0)? (1 check)
  5. Finnair 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.

Future Performance

 How is Finnair Oyj expected to perform in the next 1 to 3 years based on estimates from 6 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
0.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Finnair Oyj expected to grow at an attractive rate?
  • Finnair Oyj's earnings growth is positive but not above the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Finnair Oyj's earnings growth is positive but not above the Finland market average.
  • Finnair Oyj's revenue growth is expected to exceed the Finland market average.
Annual Growth Rates Comparison
Raw Data
HLSE:FIA1S Future Growth Rates Data Sources
Data Point Source Value (per year)
HLSE:FIA1S Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 0.3%
HLSE:FIA1S Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 4.5%
Europe Airlines Industry Earnings Growth Rate Market Cap Weighted Average 11.2%
Europe Airlines Industry Revenue Growth Rate Market Cap Weighted Average 6.4%
Finland Market Earnings Growth Rate Market Cap Weighted Average 15.5%
Finland Market Revenue Growth Rate Market Cap Weighted Average 1.6%

*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:FIA1S Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
HLSE:FIA1S Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 3,525 328 1
2022-12-31 3,412 357 127 2
2021-12-31 3,328 394 104 5
2020-12-31 3,192 353 100 6
2019-12-31 3,052 315 94 6
HLSE:FIA1S Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 2,835 383 138
2018-09-30 2,797 438 114
2018-06-30 2,731 477 127
2018-03-31 2,649 436 166
2017-12-31 2,568 382 157
2017-09-30 2,493 320 151
2017-06-30 2,399 276 145
2017-03-31 2,335 233 77
2016-12-31 2,317 220 70
2016-09-30 2,315 196 122
2016-06-30 2,295 200 73
2016-03-31 2,270 168 68

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Finnair Oyj's earnings are expected to grow by 0.3% yearly, however this is not considered high growth (20% yearly).
  • Finnair Oyj's revenue is expected to grow by 4.5% 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:FIA1S 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 6 Analyst Estimates (S&P Global) See Below

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

HLSE:FIA1S Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 0.99 0.99 0.99 1.00
2021-12-31 0.92 1.05 0.72 4.00
2020-12-31 0.72 0.85 0.56 5.00
2019-12-31 0.69 0.75 0.55 4.00
HLSE:FIA1S Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 1.08
2018-09-30 0.88
2018-06-30 0.93
2018-03-31 1.14
2017-12-31 1.23
2017-09-30 1.31
2017-06-30 1.14
2017-03-31 0.62
2016-12-31 0.55
2016-09-30 1.11
2016-06-30 0.57
2016-03-31 0.54

*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.
  • Finnair Oyj is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Finnair 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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Finnair Oyj has a total score of 1/6, 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.

Past Performance

  How has Finnair 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 Finnair Oyj's growth in the last year to its industry (Airlines).
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.
  • Finnair Oyj has delivered over 20% year on year earnings growth in the past 5 years.
  • Finnair Oyj's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Finnair Oyj's 1-year earnings growth is negative, it can't be compared to the Europe Airlines industry average.
Earnings and Revenue History
Finnair 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 Finnair Oyj Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:FIA1S Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,834.60 138.10 92.40
2018-09-30 2,796.80 114.30 92.70
2018-06-30 2,731.10 127.30 91.60
2018-03-31 2,649.30 166.40 91.00
2017-12-31 2,568.40 156.80 85.80
2017-09-30 2,493.00 150.90 80.00
2017-06-30 2,398.50 145.00 78.10
2017-03-31 2,334.80 77.20 76.30
2016-12-31 2,316.80 70.10 76.90
2016-09-30 2,314.60 121.60 77.30
2016-06-30 2,295.30 72.90 76.60
2016-03-31 2,269.60 67.80 74.50
2015-12-31 2,254.50 73.10 74.00
2015-09-30 2,239.50 -32.60 70.10
2015-06-30 2,240.70 -55.00 67.00
2015-03-31 2,262.50 -72.90 68.60
2014-12-31 2,284.50 -91.30 65.30
2014-09-30 2,292.30 -50.60 67.20
2014-06-30 2,306.40 -40.30 69.00
2014-03-31 2,350.40 1.70 69.30
2013-12-31 2,400.30 14.10 72.90
2013-09-30 2,452.80 17.00 72.50
2013-06-30 2,466.70 42.00 74.70
2013-03-31 2,451.50 5.30 75.30
2012-12-31 2,451.10 1.70 75.70
2012-09-30 2,416.10 -27.10 115.50
2012-06-30 2,373.00 -77.20 118.00

*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.
  • Finnair Oyj has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Finnair Oyj used its assets less efficiently than the Europe Airlines industry average last year based on Return on Assets.
  • Finnair Oyj has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Finnair 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 Airlines 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.
Finnair Oyj has a total score of 2/6, 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.

Health

 How is Finnair 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 Finnair Oyj's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Finnair Oyj is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Finnair Oyj's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Finnair 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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.1x 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 Finnair Oyj Company Filings, last reported 3 months ago.

HLSE:FIA1S Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,021.70 675.20 1,073.10
2018-09-30 1,153.70 687.30 1,273.70
2018-06-30 1,050.60 708.80 1,268.60
2018-03-31 972.60 714.50 1,088.80
2017-12-31 1,015.70 737.10 983.90
2017-09-30 980.80 749.80 1,041.80
2017-06-30 856.70 775.10 1,001.90
2017-03-31 817.50 815.10 1,008.90
2016-12-31 857.00 717.70 817.10
2016-09-30 828.40 655.10 959.90
2016-06-30 744.90 732.60 981.90
2016-03-31 709.10 479.70 815.50
2015-12-31 727.40 346.20 713.40
2015-09-30 557.60 359.80 716.10
2015-06-30 555.00 364.90 751.40
2015-03-31 539.70 392.90 516.30
2014-12-31 514.30 427.60 434.40
2014-09-30 649.70 409.60 435.50
2014-06-30 608.30 416.60 486.10
2014-03-31 625.90 498.90 466.30
2013-12-31 678.00 593.00 458.80
2013-09-30 758.40 655.30 557.40
2013-06-30 734.40 544.40 424.90
2013-03-31 763.80 573.20 401.40
2012-12-31 775.30 568.90 430.50
2012-09-30 754.30 625.90 402.90
2012-06-30 684.70 687.90 427.10
  • Finnair Oyj's level of debt (66.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (87.4% vs 66.1% today).
  • Debt is well covered by operating cash flow (56.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.5x coverage).
X
Financial health checks
We assess Finnair 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. Finnair 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.

Dividends

 What is Finnair 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
3.3%
Current annual income from Finnair Oyj dividends. Estimated to be 3.33% next year.
If you bought €2,000 of Finnair Oyj shares you are expected to receive €66 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?
  • Finnair Oyj's pays a higher dividend yield than the bottom 25% of dividend payers in Finland (2.21%).
  • Finnair Oyj's dividend is below the markets top 25% of dividend payers in Finland (4.85%).
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:FIA1S 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 6 Analyst Estimates (S&P Global) See Below
Europe Airlines Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 4.9%
Finland Market Average Dividend Yield Market Cap Weighted Average of 101 Stocks 4.2%
Finland Minimum Threshold Dividend Yield 10th Percentile 1.4%
Finland Bottom 25% Dividend Yield 25th Percentile 2.2%
Finland Top 25% Dividend Yield 75th Percentile 4.8%

Industry and Market average data is calculated daily.

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

HLSE:FIA1S Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.29 5.00
2020-12-31 0.26 6.00
2019-12-31 0.28 4.00
HLSE:FIA1S Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-20 0.274 3.364
2018-02-16 0.300 3.589
2017-02-15 0.100 1.385
2014-10-31 0.000 0.000
2014-08-15 0.000 0.000
2014-05-07 0.000 0.000
2013-03-07 0.100 3.548
2013-02-08 0.100 3.291
2010-03-31 0.000 0.000
2009-10-29 0.000 0.000
2009-08-07 0.000 0.000
2009-04-20 0.000 0.000

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

  • Whilst dividend payments have been stable, Finnair Oyj has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Finnair Oyj only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Finnair Oyj's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess Finnair 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 Finnair Oyj afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Finnair Oyj has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Finnair 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
Topi Manner
AGE 44
TENURE AS CEO 0.3 years
CEO Bio

Mr. Topi Manner has been Supervisory Board Member at Ilmarinen Mutual Pension Insurance Company since March 28, 2019. He has been Chief Executive Officer at Finnair Oyj since January 01, 2019. Mr. Manner had been the President of Nordea Bank Finland Plc from September 01, 2015 to 2018. Mr. Manner had been the Head of Personal Banking at Nordea Bank Abp from July 1, 2016 to 2018 and was its Executive Vice President since July 7, 2016 until 2018. Mr. Manner has been a Member of Nordea’s Group Executive Management team since 2016. Mr. Manner served as Chief Executive Officer of Finland at Nordea Bank AB since 2015 and served as its Executive Vice President from December 2012 to September 2015. Mr. Manner served as Head of Segment Household & Group Marketing at Nordea Bank AB from 2009 to 2011. Mr. Manner served as the Head of Banking Finland & Baltics at Nordea Bank AB from 2012 to 2016. He served as Head of Segments at Nordea from 2011 to 2012. He served as Head of Segment Household at Nordea from 2008 to 2009. Mr. Manner served as Deputy President of Nordea Bank Finland Plc from January 03, 2013 to August 31, 2015. He was Director of Nordea Finans Sverige AB (publ). He serves as a Member of the Board of the Finnish Chamber of Commerce. He serves as a Member of the Board of the International Chamber of Commerce in Finland. He serves as a Member of Governing Council of the Inter-Alpha Group of Banks. He completed Inter-Alpha Banking Programme from INSEAD, France. He completed JOKO Executive Education from Helsinki School of Economics and Business Administration, Finland. He holds MSc in International Business/Trade/Commerce from Turku School of Economics and Business Administration, Finland.

CEO Compensation
  • Insufficient data for Topi to compare compensation growth.
  • Insufficient data for Topi to establish whether their remuneration is reasonable compared to companies of similar size in Finland.
Management Team Tenure

Average tenure and age of the Finnair Oyj management team in years:

3.4
Average Tenure
48.5
Average Age
  • The tenure for the Finnair Oyj management team is about average.
Management Team

Pekka Vähähyyppä

TITLE
CFO & Member of Executive Board
COMPENSATION
€452K
AGE
58
TENURE
3.7 yrs

Topi Manner

TITLE
Chief Executive Officer
AGE
44
TENURE
0.3 yrs

Sami Kalle Sarelius

TITLE
Senior VP
AGE
47
TENURE
8.7 yrs

Arja Suominen

TITLE
Senior VP of Corporate Communications & Corporate Responsibility and Member of The Executive Board
AGE
60
TENURE
8.3 yrs

Eija Hakakari

TITLE
Senior VP of Human Resources & Member of Executive Board
AGE
57
TENURE
4.5 yrs

Mika Stirkkinen

TITLE
Interim Head of Commercial Unit & Member of Executive Board
TENURE
0.3 yrs

Piia Karhu

TITLE
Senior VP of Customer Experience & Member of Executive Board
AGE
42

Jaakko Schildt

TITLE
Senior VP of Operations & Member of Executive Board
AGE
48
TENURE
3.1 yrs

Katri Harra-Salonen

TITLE
Chief Digital Officer & Member of Executive Board
AGE
49
TENURE
3.1 yrs

Elina Stråhlman

TITLE
Vice President of Group Accounting and Taxation
Board of Directors Tenure

Average tenure and age of the Finnair Oyj board of directors in years:

2.1
Average Tenure
58
Average Age
  • The average tenure for the Finnair Oyj board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jouko Karvinen

TITLE
Chairman of the Board
COMPENSATION
€89K
AGE
61
TENURE
2.1 yrs

Colm Barrington

TITLE
Vice Chairman
COMPENSATION
€71K
AGE
72
TENURE
2.1 yrs

Mauri Haapanen

TITLE
Chairman of the Finnairin Teknisetry

Juha Marjamaki

TITLE
Representative Member of Management Board & Chairman of The Finnairin Insinooritry

Leif Grundstrom

TITLE
Representative Member of Management Board & Chairman of The Finnairin Tekniset Ry

Jaana Tuominen

TITLE
Director
COMPENSATION
€47K
AGE
58
TENURE
5.1 yrs

Jukka Erlund

TITLE
Director
AGE
44
TENURE
0.1 yrs

Mengmeng Du

TITLE
Director
COMPENSATION
€58K
AGE
38
TENURE
2.1 yrs

Henrik Kjellberg

TITLE
Director
COMPENSATION
€46K
TENURE
1.1 yrs

Montie Brewer

TITLE
Director
COMPENSATION
€42K
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Finnair 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. Finnair 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.

News

Simply Wall St News

Should Finnair Oyj’s (HEL:FIA1S) Weak Investment Returns Worry You?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Is Finnair Oyj (HEL:FIA1S) A Smart Pick For Income Investors?

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Historically, Finnair Oyj (HEL:FIA1S) has been paying a dividend to shareholders. … Let's dig deeper into whether Finnair Oyj should have a place in your portfolio.

Simply Wall St -

Do You Like Finnair Oyj (HEL:FIA1S) At This P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Finnair Oyj has a price to earnings ratio of 7.83, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

What Are Analysts Saying About Finnair Oyj's (HEL:FIA1S) Earnings Outlook?

Finnair Oyj's (HEL:FIA1S) most recent earnings update in December 2018a … signalled … company

Simply Wall St -

Estimating The Fair Value Of Finnair Oyj (HEL:FIA1S)

by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF) … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model.

Simply Wall St -

How Much Of Finnair Oyj (HEL:FIA1S) Do Institutions Own?

If you want to know who really controls Finnair Oyj (HEL:FIA1S), then you'll have to look at the makeup of its share registry. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … It has a market capitalization of €954m, which means it would generally expect to see some institutions on the share registry.

Simply Wall St -

Finnair Oyj (HEL:FIA1S) Has Attractive Fundamentals

Finnair Oyj (HEL:FIA1S) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … that has been able to sustain great financial health over the past

Simply Wall St -

Finnair Oyj (HEL:FIA1S): Time For A Financial Health Check

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … So, understanding the company's financial health becomes. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

Estimating The Fair Value Of Finnair Oyj (HEL:FIA1S)

by projecting its future cash flows and then discounting them to today's value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Do Directors Own Finnair Oyj (HEL:FIA1S) Shares?

If you want to know who really controls Finnair Oyj (HEL:FIA1S), then you'll have to look at the makeup of its share registry. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … institutions are noticeable on the share registry.

Simply Wall St -

Company Info

Description

Finnair Oyj provides passenger and cargo airline services to various destinations between Asia and Europe. It also offers tours packages under its Aurinkomatkat and Finnair Holidays brands. As of December 31, 2018, the company operated a fleet of 57 aircraft, which included 27 owned by Finnair Aircraft Finance Oy, 22 under operating lease, and 8 on finance lease. In addition, it provides technical, catering, and financial business services. The company was founded in 1923 and is based in Vantaa, Finland.

Details
Name: Finnair Oyj
FIA1S
Exchange: HLSE
Founded: 1923
€1,058,255,047
127,577,462
Website: http://company.finnair.com
Address: Finnair Oyj
Tietotie 9 A,
Helsinki Airport,
Vantaa,
01053,
Finland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HLSE FIA1S Registered Shares OMX Nordic Exchange Helsinki FI EUR 02. Jan 1992
OTCPK FNNN.F Registered Shares Pink Sheets LLC US USD 02. Jan 1992
DB FAI Registered Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0EG8 Registered Shares London Stock Exchange GB EUR 02. Jan 1992
BATS-CHIXE FIA1SH Registered Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
6,462
Finnair Oyj employees.
Industry
Airlines
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 20:36
End of day share price update: 2019/04/17 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/15
Last earnings reported: 2018/12/31
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.