Company Overview
Puuilo Oyj is a Finnish retail company that operates in the field of home furnishings. The company was founded in 1994 and has since established itself as a leading player in the Finnish market. With its strong brand portfolio and wide range of products, Puuilo aims to provide high-quality solutions for customers' home decor needs.
Puuilo's primary mission is to create a better living environment for its customers through innovative design, quality products, and excellent customer service. The company's core values include a commitment to sustainability, a passion for design, and a focus on building strong relationships with its customers and partners.
Key Products/Services
Puuilo offers a wide range of home furnishings, including furniture, lighting, textiles, and decorative items. The company's products are designed to provide comfort, style, and functionality for homes and offices. Some of the key benefits of Puuilo's products include:
- High-quality materials and craftsmanship
- Innovative design solutions
- Wide range of products to suit different tastes and needs
- Excellent customer service and support
- Sustainable and eco-friendly options
Benefits
Investing in Puuilo can provide several benefits, including:
- Access to a well-established brand with a strong presence in the Finnish market
- Opportunity to invest in a company with a commitment to sustainability and social responsibility
- Potential for long-term growth and profitability through the company's expansion plans
- Diversification of investment portfolio through exposure to the retail sector
- Potential for capital appreciation through the company's dividend payments
Risk Analysis
Puuilo operates in a competitive retail market, and there are several risks associated with investing in the company. These include:
- Competition from other retailers and online players
- Fluctuations in consumer spending and demand for home furnishings and textiles
- Risk of supply chain disruptions and inventory management issues
- Exposure to changes in market trends and consumer preferences
- Potential impact of economic downturns on the company's financial performance
In conclusion, Puuilo Oyj is a well-established Finnish retail company with a strong brand portfolio and wide range of products. The company's commitment to sustainability and social responsibility makes it an attractive investment opportunity for those looking to invest in a responsible and long-term growth strategy.
Valuation
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Number of Shares (million) | 84.8 | 84.8 | 84.8 | 84.8 | 84.8 | 84.8 | 84.8 |
| Target Valuation (MEur) | 454.2 | 509.4 | 585.1 | 687.5 | 797.3 | 870.9 | 870.9 |
| Targer Price | 5.36 | 6.01 | 6.9 | 8.11 | 9.41 | 10.27 | 10.27 |
| Potential, % | -8.3 | -32.7 | -32.5 | -36.0 | -44.8 | -39.7 | -39.7 |
| Recommendation | Hold | Sell | Sell | Sell | Sell | Sell | Sell |
| MCAP (MEur) | 495.5 | 756.6 | 866.4 | 1075.0 | 1444.6 | 1444.6 | 1444.6 |
| Price | 5.84 | 8.92 | 10.22 | 12.68 | 17.04 | 17.04 | 17.04 |
| EV | 590.0 | 858.0 | 981.0 | 1205.0 | 1569.0 | 1550.0 | 1523.0 |
| P/S | 1.67 | 2.24 | 2.26 | 2.43 | 2.83 | 2.47 | 2.16 |
| EV/S | 1.99 | 2.54 | 2.56 | 2.73 | 3.08 | 2.66 | 2.27 |
| EV/EBIT | 12.55 | 16.25 | 15.07 | 16.05 | 16.28 | 13.44 | 11.46 |
| P/E | 14.12 | 19.55 | 18.09 | 19.2 | 19.81 | 16.4 | 14.14 |
| P/B | 6.51 | 8.9 | 8.51 | 10.87 | 9.07 | 5.84 | 4.13 |
| P/OCF | 9.83 | 13.05 | 17.65 | 14.35 | 38.08 | 36.58 | 30.68 |
| EV/OCF | 11.7 | 14.79 | 19.98 | 16.09 | 41.36 | 39.25 | 32.35 |
| P/FCF | 10.37 | 14.2 | 20.63 | 15.56 | 45.07 | 42.93 | 35.04 |
| EV/FCF | 12.34 | 16.1 | 23.36 | 17.44 | 48.96 | 46.06 | 36.94 |
Income Statement
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Revenue | 296.4 | 338.4 | 383.5 | 442.3 | 510.0 | 583.7 | 670.2 |
| Rev. Growth, % | 9.7 | 14.2 | 13.3 | 15.3 | 15.3 | 14.5 | 14.8 |
| Ebit | 47.0 | 52.8 | 65.1 | 75.1 | 96.4 | 115.3 | 132.9 |
| Ebit Growth, % | 5.6 | 12.3 | 23.3 | 15.4 | 28.4 | 19.6 | 15.3 |
| Ebit, % | 15.9 | 15.6 | 17.0 | 17.0 | 18.9 | 19.8 | 19.8 |
| Profit | 35.1 | 38.7 | 47.9 | 56.0 | 72.9 | 88.1 | 102.1 |
| EPS | 0.41 | 0.46 | 0.57 | 0.66 | 0.86 | 1.04 | 1.2 |
| Profit Growth, % | 10.0 | 10.3 | 23.8 | 16.9 | 30.2 | 20.9 | 15.9 |
| Profit, % | 11.8 | 11.4 | 12.5 | 12.7 | 14.3 | 15.1 | 15.2 |
Balance Sheet
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Inventory | 89.9 | 93.1 | 115.5 | 123.2 | 128.7 | 139.9 | 152.3 |
| Acc. Receivable | 4.1 | 5.3 | 5.9 | 9.4 | 10.6 | 12.1 | 13.7 |
| Cash | 28.8 | 21.5 | 18.3 | 33.0 | 44.3 | 63.7 | 90.6 |
| Equity | 76.1 | 85.0 | 101.8 | 98.9 | 159.3 | 247.4 | 349.5 |
| ROE, % | 46.1 | 45.5 | 47.1 | 56.6 | 45.8 | 35.6 | 29.2 |
| ROCE, % | 23.6 | 25.4 | 27.7 | 28.6 | 29.4 | 27.7 | 25.6 |
| Net Debt | 94.4 | 101.3 | 114.8 | 130.4 | 124.7 | 105.4 | 78.4 |
| Gearing, % | 124.0 | 119.2 | 112.8 | 131.9 | 78.3 | 42.6 | 22.4 |
| Equity ratio, % | 32.9 | 34.2 | 36.3 | 31.2 | 43.5 | 57.1 | 67.4 |
| Acc. Payable | 16.1 | 21.2 | 24.0 | 31.0 | 34.2 | 35.3 | 32.7 |
| Total Assets | 231.3 | 248.5 | 280.8 | 316.7 | 366.0 | 433.3 | 518.6 |
| ROA, % | 15.2 | 15.6 | 17.1 | 17.7 | 19.9 | 20.3 | 19.7 |
Cash Flow
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 50.4 | 58.0 | 49.1 | 74.9 | 37.9 | 39.5 | 47.1 |
| Investment Cash Flow | -2.6 | -4.7 | -7.1 | -5.8 | -5.9 | -5.8 | -5.8 |
| Free Cash Flow | 47.8 | 53.3 | 42.0 | 69.1 | 32.1 | 33.7 | 41.2 |
| OCF/CAPEX | 19.38 | 12.34 | 6.92 | 12.91 | 6.44 | 6.76 | 8.05 |
| Financial Cash Flow | -35.6 | -60.7 | -45.0 | -54.5 | -20.7 | -14.3 | -14.3 |
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.
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