Company Overview
Revenio Group Oyj is a Finnish multinational company specializing in ophthalmic diagnostics and treatment solutions. The company's primary focus is on developing and marketing innovative products and services to improve eye care outcomes, particularly in the diagnosis and management of glaucoma, diabetic retinopathy, and other eye diseases.
Revenio's mission is to "improve vision and quality of life" through its cutting-edge technology and expertise. The company's core values include innovation, customer-centricity, and collaboration, which guide its strategic decisions and daily operations.
Key Products/Services
Revenio offers a range of products and services that cater to the needs of ophthalmologists, optometrists, and patients. Some of its key offerings include:
- iCare-branded tonometry and perimetry devices for accurate eye pressure measurements and visual field assessments.
- iCare Solutions, a comprehensive digital clinical platform that streamlines patient data management and improves diagnosis accuracy.
- Software solutions that enable seamless integration with existing electronic health records systems.
- Imaging devices for high-resolution imaging of the retina and optic nerve.
The benefits of Revenio's products and services include improved diagnostic accuracy, enhanced patient care, and increased efficiency in clinical workflows. By leveraging its innovative technology and expertise, Revenio aims to revolutionize eye care outcomes and improve the lives of millions of people worldwide.
Strategic Initiatives
Revenio is committed to driving innovation and growth through various strategic initiatives. Some of its key focus areas include:
- Expansion into new markets, particularly in Asia-Pacific regions.
- Development of new products and services to address emerging trends in eye care.
- Enhancement of its digital clinical platform to improve patient engagement and outcomes.
- Investment in research and development to stay ahead of the competition.
By executing these strategic initiatives, Revenio aims to solidify its position as a leader in the ophthalmic diagnostics and treatment market, drive revenue growth, and improve patient care outcomes worldwide.
Valuation
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Number of Shares (million) | 26.7 | 26.7 | 26.7 | 26.7 | 26.7 | 26.7 | 26.7 |
| Target Valuation (MEur) | 154.7 | 171.3 | 148.2 | 73.3 | 20.4 | 2.6 | 2.6 |
| Targer Price | 5.8 | 6.42 | 5.56 | 2.75 | 0.76 | 0.1 | 0.1 |
| Potential, % | -85.0 | -76.3 | -79.3 | -87.7 | -93.9 | -99.2 | -99.2 |
| Recommendation | Sell | Sell | Sell | Sell | Sell | Sell | Sell |
| MCAP (MEur) | 1029.0 | 724.0 | 716.0 | 597.7 | 335.1 | 335.1 | 335.1 |
| Price | 38.6 | 27.16 | 26.86 | 22.4 | 12.56 | 12.56 | 12.56 |
| EV | 1017.0 | 720.0 | 708.0 | 582.0 | 316.0 | 308.0 | 299.0 |
| P/S | 10.61 | 7.1 | 6.92 | 5.45 | 2.91 | 2.87 | 2.86 |
| EV/S | 10.49 | 7.06 | 6.85 | 5.31 | 2.74 | 2.63 | 2.55 |
| EV/EBIT | 34.25 | 23.84 | 26.89 | 22.93 | 39.9 | 44.75 | 44.91 |
| P/E | 47.2 | 32.42 | 37.96 | 34.35 | 48.5 | 60.93 | 62.87 |
| P/B | 11.32 | 7.25 | 6.65 | 5.21 | 2.75 | 2.63 | 2.53 |
| P/OCF | 44.35 | 66.42 | 30.09 | 19.72 | 28.3 | 18.73 | 17.69 |
| EV/OCF | 43.84 | 66.09 | 29.75 | 19.22 | 26.66 | 17.21 | 15.79 |
| P/FCF | 49.0 | 147.76 | 47.74 | 23.81 | 43.37 | 24.41 | 22.67 |
| EV/FCF | 48.43 | 147.03 | 47.21 | 23.2 | 40.85 | 22.43 | 20.24 |
Income Statement
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Revenue | 97.0 | 102.0 | 103.4 | 109.7 | 115.0 | 116.9 | 117.2 |
| Rev. Growth, % | 22.9 | 5.2 | 1.4 | 6.1 | 4.8 | 1.7 | 0.3 |
| Ebit | 29.7 | 30.2 | 26.3 | 25.4 | 7.9 | 6.9 | 6.7 |
| Ebit Growth, % | 35.0 | 1.7 | -12.9 | -3.4 | -68.9 | -12.7 | -2.9 |
| Ebit, % | 30.6 | 29.6 | 25.4 | 23.2 | 6.9 | 5.9 | 5.7 |
| Profit | 21.8 | 22.3 | 18.9 | 17.4 | 6.9 | 5.5 | 5.3 |
| EPS | 0.82 | 0.84 | 0.71 | 0.65 | 0.26 | 0.21 | 0.2 |
| Profit Growth, % | 26.0 | 2.3 | -15.2 | -7.9 | -60.3 | -20.3 | -3.6 |
| Profit, % | 22.5 | 21.9 | 18.3 | 15.9 | 6.0 | 4.7 | 4.5 |
Balance Sheet
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Inventory | 6.7 | 10.5 | 10.1 | 10.8 | 11.4 | 11.5 | 11.6 |
| Acc. Receivable | 13.7 | 16.3 | 16.2 | 15.8 | 16.1 | 16.5 | 16.9 |
| Cash | 32.1 | 21.5 | 20.7 | 26.2 | 29.0 | 36.8 | 45.5 |
| Equity | 90.9 | 99.9 | 107.7 | 114.7 | 121.7 | 127.2 | 132.5 |
| ROE, % | 24.0 | 22.3 | 17.5 | 15.2 | 5.7 | 4.3 | 4.0 |
| ROCE, % | 26.7 | 25.6 | 21.8 | 20.2 | 6.0 | 5.0 | 4.7 |
| Net Debt | -11.9 | -3.6 | -7.9 | -15.3 | -19.5 | -27.2 | -36.0 |
| Gearing, % | -13.1 | -3.6 | -7.3 | -13.3 | -16.0 | -21.4 | -27.1 |
| Equity ratio, % | 66.8 | 72.7 | 76.2 | 76.2 | 80.7 | 83.7 | 86.9 |
| Acc. Payable | 20.1 | 15.0 | 15.5 | 19.3 | 15.6 | 12.6 | 10.6 |
| Total Assets | 136.1 | 137.4 | 141.3 | 150.6 | 150.8 | 151.9 | 152.6 |
| ROA, % | 16.0 | 16.2 | 13.4 | 11.6 | 4.6 | 3.6 | 3.5 |
Cash Flow
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 23.2 | 10.9 | 23.8 | 30.3 | 11.8 | 17.9 | 18.9 |
| Investment Cash Flow | -2.2 | -6.0 | -8.8 | -5.2 | -4.1 | -4.2 | -4.2 |
| Free Cash Flow | 21.0 | 4.9 | 15.0 | 25.1 | 7.7 | 13.7 | 14.8 |
| OCF/CAPEX | 10.55 | 1.82 | 2.7 | 5.83 | 2.88 | 4.3 | 4.55 |
| Financial Cash Flow | -14.2 | -15.0 | -12.5 | -16.5 | -5.9 | -6.0 | -6.0 |
Disclaimer
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