Investors House Oyj (INVEST.HE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+237.8%

€9.59

vs €2.84 price

Levered DCF

-€0.01

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.53

Distress zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	4.96×	4.89×	9.32×	9.6×	-42.92×	-17.27×	23.89×	14.63×
P/B	1.06×	0.88×	0.99×	0.95×	0.93×	0.91×	0.86×	0.77×
P/S	2.58×	3.37×	4.84×	4.03×	3.47×	3.6×	3.38×	4.37×
EV / EBITDA	5.73×	5.11×	8.49×	9.39×	-932.76×	-42.3×	23.71×	14.69×
Gross margin	46.9%	50.3%	25.3%	38.2%	38.9%	47.1%	54.3%	50.3%
Operating margin	35.1%	120.0%	3.6%	59.6%	-6.6%	32.6%	34.5%	59.5%
Net margin	51.8%	68.7%	51.9%	42.3%	-7.9%	-20.7%	14.4%	30.2%
Current ratio	1.49×	0.27×	1.03×	1.91×	2.57×	0.36×	0.53×	0.31×
Debt / equity	0.71×	1.02×	0.5×	0.58×	0.6×	0.61×	1.25×	0.8×
Interest coverage	2.78×	7.09×	0.34×	9.34×	-1.41×	4.31×	4.51×	10.32×
Dividend yield	102.9%	6.3%	6.0%	26.1%	4.8%	4.7%	3.7%	3.5%
Payout ratio	511.7%	30.7%	55.6%	249.0%	-212.7%	-82.4%	88.1%	50.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	21.2%	17.9%	10.6%	10.0%	-2.1%	-5.3%	3.7%	5.3%
Return on invested capital	8.2%	10.4%	0.5%	6.8%	-0.8%	4.5%	2.5%	3.1%
Return on assets	10.7%	7.1%	6.6%	5.8%	-1.2%	-2.8%	1.3%	2.7%
Free cash flow yield	4.8%	6.0%	0.2%	-1.4%	6.3%	7.4%	77.1%	3.8%
Earnings yield	20.1%	20.4%	10.7%	10.5%	-2.3%	-5.8%	4.3%	6.9%
Enterprise value	€31.2M	€70.4M	€41.4M	€42.9M	€38.2M	€53.6M	€86.9M	€71.2M
Net debt / EBITDA	1.76×	2.67×	1.69×	2.67×	-106.9×	-15.41×	13.12×	7.23×
Cash conversion cycle (days)	-136	102	-32	-62	-109	-392	-501	-104