F-Secure Oyj

F-Secure maintains a high price-to-book ratio of 10.16 and a price-to-earnings ratio of 64.63, indicating a premium valuation relative to book value and earnings. The company's equity base is modest at EUR 34.49 million, while long-term debt stands at EUR 181.90 million, resulting in a debt-to-equity ratio of 5.27. Despite a strong operating cash flow of EUR 24.72 million, the company's liquidity position is constrained by negative net cash after subtracting total debt.

Profitability metrics show a return on equity of 15.71%, which is strong, but return on assets is relatively low at 1.97%. The company's operating income of EUR 10.20 million and net income of EUR 5.42 million suggest a healthy margin, though the gross profit margin of 86.0% is typical for cybersecurity firms. The company's enterprise value to EBITDA ratio of 50.50 indicates a high valuation relative to earnings before interest, taxes, depreciation, and amortization.

F-Secure's revenue of EUR 36.49 million is not segmented by product or geography in the provided data, but the company's exposure is likely concentrated in the Nordic region and enterprise cybersecurity markets. The company's market share is not explicitly stated, but it operates in a competitive space with major players such as Microsoft, Salesforce, and ServiceNow.

The company's revenue growth is not explicitly forecasted, but the current FY outlook is neutral with no significant directional change expected. The company's capital expenditure of EUR -6.87 million indicates a reduction in investment, which may reflect a focus on cost optimization. The company's free cash flow of EUR 5.20 million is modest but positive, supporting operational flexibility.

F-Secure faces medium liquidity risk due to its high debt load and limited cash reserves. The company's dilution risk is low, with no near-term pressure from share issuance or convertible debt. The company's risk assessment highlights the need for careful monitoring of debt servicing and liquidity management.

Recent events and filings do not indicate significant changes in the company's strategic direction or financial position. Analysts have provided a mean price target of EUR 1.94, with a median of EUR 2.00, suggesting a slightly bearish outlook relative to the current market price of EUR 2.005.

F-Secure generates best-in-class cash conversion of 4.56, significantly exceeding the software cohort median of 0.92.

Debt-to-equity ratio of 5.27 places F-Secure in the bottom quartile, indicating significantly higher leverage than the cohort median.

The company faces high credit risk, posing a significant threat to financial stability and potential default scenarios.

Analyst consensus implies a 4.4% downside from the current market price, suggesting limited near-term upside potential.

Revenue €36.3M, −2,0% YoY.

• ▍Revenue €36.3M, −2,0% YoY

Revenue €35.7M, −3,6% YoY; Operating income +22,4% YoY.

• ▍Revenue €35.7M, −3,6% YoY
• ▍Operating income +22,4% YoY
• ▍Net income +52,5% YoY
• ▍Free cash flow +1 188,0% YoY
• ▍Net margin 14.6%

Revenue €36.1M, −0,8% YoY; Operating income −15,8% YoY.

• ▍Revenue €36.1M, −0,8% YoY
• ▍Operating income −15,8% YoY
• ▍Net income −7,3% YoY
• ▍Free cash flow −2,1% YoY
• ▍Net margin 17.3%

Revenue €36.9M, +1,1% YoY; Operating income −19,3% YoY.

• ▍Revenue €36.9M, +1,1% YoY
• ▍Operating income −19,3% YoY
• ▍Net income −6,3% YoY
• ▍Free cash flow +20,7% YoY
• ▍Net margin 13.8%

Revenue €37.1M; Operating income €9.4M.

• ▍Revenue €37.1M
• ▍Operating income €9.4M
• ▍Net margin 15.8%

Revenue €37.0M; Operating income €6.7M.

• ▍Revenue €37.0M
• ▍Operating income €6.7M
• ▍Net margin 9.2%

Revenue €36.3M; Operating income €11.5M.

• ▍Revenue €36.3M
• ▍Operating income €11.5M
• ▍Net margin 18.5%

Revenue €36.5M; Operating income €10.2M.

• ▍Revenue €36.5M
• ▍Operating income €10.2M
• ▍Net margin 14.9%

Revenue €145.7M, −0,3% YoY; Operating income −7,5% YoY.

• ▍Revenue €145.7M, −0,3% YoY
• ▍Operating income −7,5% YoY
• ▍Net income +6,2% YoY
• ▍Free cash flow +66,3% YoY
• ▍Net margin 15.3%

Revenue €146.3M, +12,2% YoY; Operating income +30,3% YoY.

• ▍Revenue €146.3M, +12,2% YoY
• ▍Operating income +30,3% YoY
• ▍Net income −5,8% YoY
• ▍Free cash flow +9,5% YoY
• ▍Net margin 14.4%

Revenue €130.4M, +17,4% YoY; Operating income −23,9% YoY.

• ▍Revenue €130.4M, +17,4% YoY
• ▍Operating income −23,9% YoY
• ▍Net income −25,8% YoY
• ▍Free cash flow −62,1% YoY
• ▍Net margin 17.2%

Revenue €111.0M, +4,4% YoY; Operating income −10,9% YoY.

• ▍Revenue €111.0M, +4,4% YoY
• ▍Operating income −10,9% YoY
• ▍Net income −12,6% YoY
• ▍Free cash flow −19,8% YoY
• ▍Net margin 27.2%