Pihlajalinna PIHLIS.HE
Public, HEL, reports in EUR. Founded 2014.
Theme: Aging population.
Finnish Oligopoly.
2025-08-01 — Sell
Financials millions, EUR
| Period | Revenue | Growth % | Gross margin % | R&D % | Operating income | Operating margin % | Net income | EPS (diluted) | Rule of 40 | basis |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 652m EUR | -7.4 % | 70.9 % | – | 42m EUR | 6.4 % | 38m EUR | 1.67 | -1.0 | |
| 2024 | 704m EUR | -2.2 % | 26.0 % | – | 48m EUR | 6.9 % | 27m EUR | 1.22 | 4.7 | |
| 2023 | 720m EUR | 4.3 % | 64.6 % | – | 16m EUR | 2.2 % | 5.7m EUR | 0.19 | 6.4 | |
| 2022 | 690m EUR | – | 61.3 % | – | 8.1m EUR | 1.2 % | 9.5m EUR | 0.42 | – | |
| 2026-Q2 | 136m EUR | -20.7 % | 69.4 % | – | 3.6m EUR | 2.6 % | 0.1m EUR | 0.01 | -18.0 | |
| 2026-Q1 | 142m EUR | -21.7 % | 68.7 % | – | 12m EUR | 8.5 % | 8.4m EUR | 0.35 | -13.1 | |
| 2025-Q4 | 151m EUR | – | 70.9 % | – | 11m EUR | 7.4 % | 5.8m EUR | 0.24 | – | |
| 2025-Q2 | 171m EUR | – | 71.3 % | – | 16m EUR | 9.6 % | 8.7m EUR | 0.36 | – | |
| 2025-Q1 | 181m EUR | – | 70.5 % | – | 16m EUR | 9.0 % | 11m EUR | 0.47 | – |
Sources
- 2025: yfinance
- 2024: 2025_10-K_Summary_2026-07-10.xlsx
- 2023: 2025_10-K_Summary_2026-07-10.xlsx
- 2022: 2025_10-K_Summary_2026-07-10.xlsx
- 2026-Q2: yfinance
- 2026-Q1: yfinance
- 2025-Q4: yfinance
- 2025-Q2: yfinance
- 2025-Q1: yfinance
Latest quarter 2026-Q2, ended 2026-06-30, vs 2025-Q2
| 2026-Q2 | 2025-Q2 | change | |
|---|---|---|---|
| Revenue | 136m EUR | 171m EUR | -35m (-21 %) |
| Op. margin | 2.6 % | 9.6 % | -6.9 pts |
| FCF | 14m EUR | 22m EUR | -7.6m (-35 %) |
| Op. income | 3.6m EUR | ||
| Net income | 0.1m EUR | ||
| EPS (diluted) | 0.01 | -97.2 % |
Cash flow millions, EUR
| Period | Cash from operations | Capex | Free cash flow | FCF margin % | CFO / net income % | NOPAT | Unlevered FCF | Levered FCF | Net change in cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | 76m EUR | 17m EUR | 59m EUR | 9.1 % | 201.0 % | 35m EUR | 57m EUR | 46m EUR | -0.2m EUR |
| 2024 | 101m EUR | 11m EUR | 90m EUR | 12.8 % | 368.0 % | 38m EUR | 78m EUR | 57m EUR | 6.4m EUR |
| 2023 | 79m EUR | 23m EUR | 56m EUR | 7.8 % | 1379.0 % | 8.8m EUR | 38m EUR | 27m EUR | 11m EUR |
| 2022 | 65m EUR | 29m EUR | 36m EUR | 5.2 % | 681.6 % | – | – | 111m EUR | 8.9m EUR |
NOPAT = op. income × (1 − effective tax rate); UFCF = NOPAT + D&A + ΔNWC − capex; LFCF = FCF + net debt issued.
Quotes
| Price | 10.64 EUR | 2026-09-15 | |
|---|---|---|---|
| Market cap | 239m EUR | 276m USD | 2026-09-15 |
| 52w high | 17.05 EUR | 2026-09-15 | |
| 52w low | 9.61 EUR | 2026-09-15 | |
| Off 52w high % | -37.6 % | ||
| P/S | 0.4 | ||
| Lifetime CAGR | -3.3 % |
Notes
- 2025-08-01 opinion Sell