Nurminen Logistics Oyj (HLSE:NLG1V) - Share price, News & Analysis

NLG1V fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	3/6
Past Performance	3/6
Financial Health	4/6
Dividends	2/6

NLG1V Stock Overview

Nurminen Logistics Oyj provides logistics services in Finland, Russia, and Baltic countries.

Rewards

Trading at 74.4% below our estimate of its fair value

Earnings are forecast to grow 6.65% per year

Became profitable this year

Risk Analysis

Has a high level of debt

Volatile share price over the past 3 months

Shareholders have been diluted in the past year

Does not have a meaningful market cap (€64M)

Nurminen Logistics Oyj Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Nurminen Logistics Oyj
Historical stock prices
Current Share Price	€0.83
52 Week High	€2.85
52 Week Low	€0.81
Beta	0.64
1 Month Change	-10.74%
3 Month Change	-29.58%
1 Year Change	-24.46%
3 Year Change	177.00%
5 Year Change	21.31%
Change since IPO	-84.61%

Recent News & Updates

Apr 11

There's Been No Shortage Of Growth Recently For Nurminen Logistics Oyj's (HEL:NLG1V) Returns On Capital

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Typically, we'll want to notice a...

Shareholder Returns

	NLG1V	FI Logistics	FI Market
7D	-3.4%	3.2%	-1.6%
1Y	-24.5%	-33.3%	-19.8%

Return vs Industry: NLG1V exceeded the Finnish Logistics industry which returned -33.3% over the past year.

Return vs Market: NLG1V underperformed the Finnish Market which returned -19.8% over the past year.

Price Volatility

Is NLG1V's price volatile compared to industry and market?
NLG1V volatility
NLG1V Average Weekly Movement	8.4%
Logistics Industry Average Movement	5.3%
Market Average Movement	5.3%
10% most volatile stocks in FI Market	8.4%
10% least volatile stocks in FI Market	3.4%

Stable Share Price: NLG1V is more volatile than 75% of Finnish stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: NLG1V's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of Finnish stocks.

About the Company

Founded	Employees	CEO	Website
1886	140	Olli Pohjanvirta	https://www.nurminenlogistics.com

Nurminen Logistics Oyj provides logistics services in Finland, Russia, and Baltic countries. The company provides railway transport, goods handling, terminal, and forwarding services, as well as other project transport or special cargo services. It also provides warehousing and project logistics services.

Nurminen Logistics Oyj Fundamentals Summary

How do Nurminen Logistics Oyj's earnings and revenue compare to its market cap?
NLG1V fundamental statistics
Market Cap	€64.09m
Earnings (TTM)	€11.80m
Revenue (TTM)	€141.25m

5.4x

P/E Ratio

0.5x

P/S Ratio

Is NLG1V overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
NLG1V income statement (TTM)
Revenue	€141.25m
Cost of Revenue	€118.13m
Gross Profit	€23.13m
Other Expenses	€11.33m
Earnings	€11.80m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Aug 04, 2022

Earnings per share (EPS)	0.15
Gross Margin	16.37%
Net Profit Margin	8.35%
Debt/Equity Ratio	104.8%

How did NLG1V perform over the long term?

See historical performance and comparison

Dividends

2.3%

Current Dividend Yield

12%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is NLG1V undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NLG1V?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for NLG1V. This is calculated by dividing NLG1V's market cap by their current preferred multiple.
What is NLG1V's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	€64.09m

NLG1V key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.7x
Enterprise Value/EBITDA	8.9x
PEG Ratio	0.8x

Price to Earnings Ratio vs Peers

How does NLG1V's PE Ratio compare to its peers?

NLG1V PE Ratio vs Peers

The above table shows the PE ratio for NLG1V vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	11.3x

Forward PE

Price-To-Earnings vs Peers: NLG1V is good value based on its Price-To-Earnings Ratio (5.4x) compared to the peer average (11.3x).

Price to Earnings Ratio vs Industry

How does NLG1V's PE Ratio compare vs other companies in the Logistics Industry?

Price-To-Earnings vs Industry: NLG1V is good value based on its Price-To-Earnings Ratio (5.4x) compared to the European Logistics industry average (11.9x)

Price to Earnings Ratio vs Fair Ratio

What is NLG1V's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NLG1V PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	5.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NLG1V's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of NLG1V when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NLG1V (€0.83) is trading below our estimate of fair value (€3.25)

Significantly Below Fair Value: NLG1V is trading below fair value by more than 20%.

Price to Earnings Growth Ratio

PEG Ratio: NLG1V is good value based on its PEG Ratio (0.8x)

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Future Growth

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

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

6.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: NLG1V's forecast earnings growth (6.6% per year) is above the savings rate (0.2%).

Earnings vs Market: NLG1V's earnings (6.6% per year) are forecast to grow slower than the Finnish market (8.1% per year).

High Growth Earnings: NLG1V's earnings are forecast to grow, but not significantly.

Revenue vs Market: NLG1V's revenue (5.7% per year) is forecast to grow faster than the Finnish market (1.8% per year).

High Growth Revenue: NLG1V's revenue (5.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: NLG1V's Return on Equity is forecast to be high in 3 years time (34.6%)

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Past Performance

How has Nurminen Logistics Oyj performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

9.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NLG1V has high quality earnings.

Growing Profit Margin: NLG1V became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: NLG1V has become profitable over the past 5 years, growing earnings by 9.9% per year.

Accelerating Growth: NLG1V has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: NLG1V has become profitable in the last year, making it difficult to compare its past year earnings growth to the Logistics industry (33.1%).

Return on Equity

High ROE: Whilst NLG1V's Return on Equity (53.39%) is outstanding, this metric is skewed due to their high level of debt.

Discover strong past performing companies

Financial Health

How is Nurminen Logistics Oyj's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: NLG1V's short term assets (€25.9M) exceed its short term liabilities (€21.5M).

Long Term Liabilities: NLG1V's short term assets (€25.9M) do not cover its long term liabilities (€34.4M).

Debt to Equity History and Analysis

Debt Level: NLG1V's net debt to equity ratio (77.6%) is considered high.

Reducing Debt: NLG1V's debt to equity ratio has reduced from 233.5% to 104.8% over the past 5 years.

Debt Coverage: NLG1V's debt is well covered by operating cash flow (29.1%).

Interest Coverage: NLG1V's interest payments on its debt are well covered by EBIT (7.5x coverage).

Balance Sheet

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Dividend

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

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

2.29%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: NLG1V's dividend (2.29%) isn’t notable compared to the bottom 25% of dividend payers in the Finnish market (2.54%).

High Dividend: NLG1V's dividend (2.29%) is low compared to the top 25% of dividend payers in the Finnish market (5.07%).

Stability and Growth of Payments

Stable Dividend: Too early to tell whether NLG1V's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if NLG1V's dividend payments are increasing as they only just started paying a dividend.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (12.2%), NLG1V's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (19.5%), NLG1V's dividend payments are well covered by cash flows.

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Management

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

2.0yrs

Average management tenure

CEO

Olli Pohjanvirta (54 yo)

2.08yrs

Tenure

€467,000

Compensation

Mr. Olli Pohjanvirta, LL M., serves as President and Chief Executive Officer at Nurminen Logistics Oyj since November 13, 2020. He serves as Senior Advisor at Pontos Oy.Mr. Pohjanvirta has been Managing D...

CEO Compensation Analysis

Compensation vs Market: Olli's total compensation ($USD492.62K) is above average for companies of similar size in the Finnish market ($USD277.11K).

Compensation vs Earnings: Olli's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: NLG1V's management team is considered experienced (2 years average tenure).

Board Members

Experienced Board: NLG1V's board of directors are considered experienced (4.2 years average tenure).

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 been diluted in the past year, with total shares outstanding growing by 4%.

Data	Last Updated (UTC time)
Company Analysis	2022/06/25 00:00
End of Day Share Price	2022/06/23 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31