Company Overview
Easor is a Finnish software company specializing in cloud-based accounting and financial management solutions for small and medium-sized enterprises (SMEs). With its roots in Talenom Oyj, Easor has carved out a unique niche in the market by providing innovative and user-friendly tools for financial management. The company's primary mission is to empower businesses with accurate and timely financial information, enabling them to make informed decisions and drive growth.
At Easor, we value integrity, innovation, and customer satisfaction. We strive to deliver high-quality products and services that meet the evolving needs of our customers, while maintaining the highest standards of professionalism and ethics. Our team of experts is committed to providing exceptional support and guidance to help businesses succeed in an ever-changing market.
Easor's product portfolio includes:
- Easor App: A cloud-based accounting solution designed for SMEs, offering a user-friendly interface and real-time financial insights.
- Easor Accounting: A comprehensive accounting system catering to the needs of small and medium-sized enterprises, providing advanced features and automation tools.
- Maventa: A web-based invoicing and payment platform facilitating efficient cash flow management and customer relationships.
These products offer numerous benefits, including:
- Improved financial accuracy and transparency
- Enhanced collaboration and communication among stakeholders
- Increased efficiency and productivity through automation
- Scalable and flexible solutions to meet the evolving needs of businesses
By investing in Easor, you can tap into a growing market demand for cloud-based accounting solutions and benefit from the company's commitment to innovation, customer satisfaction, and integrity.
Valuation
| 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|
| Number of Shares (million) | 45.6 | 45.6 | 45.6 | 45.6 |
| Target Valuation (MEur) | 0.0 | 59.3 | 57.3 | 57.3 |
| Targer Price | 0.0 | 1.3 | 1.26 | 1.26 |
| Potential, % | 0.0 | 138.2 | 130.1 | 130.1 |
| Recommendation | Hold | Buy | Buy | Buy |
| MCAP (MEur) | 38.7 | 24.9 | 24.9 | 24.9 |
| Price | 0.85 | 0.55 | 0.55 | 0.55 |
| EV | 58.0 | 41.0 | 38.0 | 36.0 |
| P/S | 1.9 | 1.15 | 1.15 | 1.14 |
| EV/S | 2.83 | 1.87 | 1.76 | 1.63 |
| EV/EBIT | 17.22 | 14.44 | 17.36 | 14.78 |
| P/E | 16.4 | 10.89 | 14.24 | 12.91 |
| P/B | 4.18 | 2.07 | 1.81 | 1.59 |
| P/OCF | 2.71 | 1.82 | 1.92 | 1.89 |
| EV/OCF | 4.04 | 2.96 | 2.94 | 2.7 |
| P/FCF | 10.62 | 7.71 | 10.67 | 9.68 |
| EV/FCF | 15.84 | 12.54 | 16.35 | 13.82 |
Income Statement
| 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|
| Revenue | 19.9 | 20.3 | 21.7 | 21.7 | 21.9 |
| Rev. Growth, % | 0.0 | 2.0 | 6.9 | 0.0 | 0.9 |
| Ebit | 4.6 | 3.3 | 2.8 | 2.2 | 2.4 |
| Ebit Growth, % | 0.0 | -28.3 | -15.2 | -21.4 | 9.1 |
| Ebit, % | 23.1 | 16.3 | 12.9 | 10.1 | 11.0 |
| Profit | 3.4 | 2.4 | 2.3 | 1.8 | 1.9 |
| EPS | 0.07 | 0.05 | 0.05 | 0.04 | 0.04 |
| Profit Growth, % | 0.0 | -29.4 | -4.2 | -21.7 | 5.6 |
| Profit, % | 17.1 | 11.8 | 10.6 | 8.3 | 8.7 |
Balance Sheet
| 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|
| Inventory | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Acc. Receivable | 2.6 | 2.8 | 3.2 | 3.3 | 3.4 |
| Cash | 1.0 | 1.0 | 4.2 | 6.6 | 9.1 |
| Equity | 9.2 | 9.2 | 12.0 | 13.8 | 15.7 |
| ROE, % | 37.0 | 26.1 | 19.2 | 13.0 | 12.1 |
| ROCE, % | 15.8 | 11.3 | 8.8 | 6.5 | 6.8 |
| Net Debt | 19.0 | 19.0 | 15.6 | 13.3 | 10.7 |
| Gearing, % | 205.5 | 205.5 | 129.7 | 96.2 | 68.0 |
| Equity ratio, % | 28.1 | 28.1 | 38.4 | 42.8 | 47.3 |
| Acc. Payable | 2.7 | 2.7 | 2.2 | 2.1 | 2.0 |
| Total Assets | 32.9 | 32.9 | 31.4 | 32.2 | 33.2 |
| ROA, % | 10.3 | 7.3 | 7.3 | 5.6 | 5.7 |
Cash Flow
| 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|
| Operating Cash Flow | 13.9 | 14.3 | 13.7 | 13.0 | 13.2 |
| Investment Cash Flow | -12.8 | -10.6 | -10.5 | -10.6 | -10.6 |
| Free Cash Flow | 1.2 | 3.6 | 3.2 | 2.3 | 2.6 |
| OCF/CAPEX | 1.09 | 1.34 | 1.31 | 1.22 | 1.24 |
| Financial Cash Flow | -1.2 | -3.6 | 0.0 | 0.0 | 0.0 |
Disclaimer
Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
The data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.
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