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F-Secure Oyj

HLSE:FSC1V
Snowflake Description

High growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FSC1V
HLSE
€402M
Market Cap
  1. Home
  2. FI
  3. Software
Company description

F-Secure Oyj provides cyber security products and services in Nordic countries, rest of Europe, North America, and internationally. The last earnings update was 55 days ago. More info.


Add to Portfolio Compare Print
  • F-Secure Oyj has significant price volatility in the past 3 months.
FSC1V Share Price and Events
7 Day Returns
6.9%
HLSE:FSC1V
4.5%
FI Software
1.8%
FI Market
1 Year Returns
-5.6%
HLSE:FSC1V
6.9%
FI Software
-21.6%
FI Market
FSC1V Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
F-Secure Oyj (FSC1V) 6.9% -10.9% -15.2% -5.6% -25.5% -4.9%
FI Software 4.5% -17.8% -17.1% 6.9% -16.6% -35.4%
FI Market 1.8% -14.9% -22.1% -21.6% -14.1% -16.9%
1 Year Return vs Industry and Market
  • FSC1V underperformed the Software industry which returned 6.9% over the past year.
  • FSC1V outperformed the Market in Finland which returned -21.6% over the past year.
Price Volatility
FSC1V
Industry
5yr Volatility vs Market
Related Companies

FSC1V Value

 Is F-Secure Oyj undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of F-Secure Oyj to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for F-Secure Oyj.

HLSE:FSC1V Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year FI Government Bond Rate -0.1%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for HLSE:FSC1V
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FI Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 5.9%
Software Unlevered Beta Simply Wall St/ S&P Global 1.02
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.016 (1 + (1- 20%) (10.29%))
1.067
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.11% + (1.067 * 5.94%)
6.23%

Discounted Cash Flow Calculation for HLSE:FSC1V using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for F-Secure Oyj is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

HLSE:FSC1V DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.23%)
2020 23.00 Analyst x1 21.65
2021 19.60 Analyst x2 17.37
2022 26.65 Analyst x2 22.23
2023 33.35 Analyst x2 26.19
2024 35.10 Analyst x2 25.95
2025 36.24 Est @ 3.25% 25.22
2026 37.06 Est @ 2.24% 24.28
2027 37.62 Est @ 1.54% 23.20
2028 38.02 Est @ 1.04% 22.07
2029 38.28 Est @ 0.7% 20.92
Present value of next 10 years cash flows €229.00
HLSE:FSC1V DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €38.28 × (1 + -0.11%) ÷ (6.23% – -0.11%)
€603.39
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €603.39 ÷ (1 + 6.23%)10
€329.78
HLSE:FSC1V Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €229.00 + €329.78
€558.78
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €558.78 / 158.12
€3.53
HLSE:FSC1V Discount to Share Price
Calculation Result
Value per share (EUR) From above. €3.53
Current discount Discount to share price of €2.54
= -1 x (€2.54 - €3.53) / €3.53
28.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price F-Secure Oyj is available for.
Intrinsic value
28%
Share price is €2.54 vs Future cash flow value of €3.53
Current Discount Checks
For F-Secure Oyj to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • F-Secure Oyj's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • F-Secure Oyj's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for F-Secure Oyj's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are F-Secure Oyj's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
HLSE:FSC1V PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.02
HLSE:FSC1V Share Price ** HLSE (2020-04-06) in EUR €2.54
Finland Software Industry PE Ratio Median Figure of 8 Publicly-Listed Software Companies 46.89x
Finland Market PE Ratio Median Figure of 103 Publicly-Listed Companies 15.7x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of F-Secure Oyj.

HLSE:FSC1V PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HLSE:FSC1V Share Price ÷ EPS (both in EUR)

= 2.54 ÷ 0.02

119.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • F-Secure Oyj is overvalued based on earnings compared to the FI Software industry average.
  • F-Secure Oyj is overvalued based on earnings compared to the Finland market.
Price based on expected Growth
Does F-Secure Oyj's expected growth come at a high price?
Raw Data
HLSE:FSC1V PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 119.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
45.1%per year
Finland Software Industry PEG Ratio Median Figure of 6 Publicly-Listed Software Companies 1.08x
Finland Market PEG Ratio Median Figure of 90 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

HLSE:FSC1V PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 119.05x ÷ 45.1%

2.64x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • F-Secure Oyj is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on F-Secure Oyj's assets?
Raw Data
HLSE:FSC1V PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €0.48
HLSE:FSC1V Share Price * HLSE (2020-04-06) in EUR €2.54
Finland Software Industry PB Ratio Median Figure of 14 Publicly-Listed Software Companies 5.15x
Finland Market PB Ratio Median Figure of 138 Publicly-Listed Companies 1.66x
HLSE:FSC1V PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HLSE:FSC1V Share Price ÷ Book Value per Share (both in EUR)

= 2.54 ÷ 0.48

5.26x

* Primary Listing of F-Secure Oyj.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • F-Secure Oyj is overvalued based on assets compared to the FI Software industry average.
X
Value checks
We assess F-Secure Oyj's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. F-Secure Oyj has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FSC1V Future Performance

 How is F-Secure Oyj expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
45.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is F-Secure Oyj expected to grow at an attractive rate?
  • F-Secure Oyj's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • F-Secure Oyj's earnings growth is expected to exceed the Finland market average.
  • F-Secure Oyj's revenue growth is expected to exceed the Finland market average.
Annual Growth Rates Comparison
Raw Data
HLSE:FSC1V Future Growth Rates Data Sources
Data Point Source Value (per year)
HLSE:FSC1V Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 45.1%
HLSE:FSC1V Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 6.7%
Finland Software Industry Earnings Growth Rate Market Cap Weighted Average 48.2%
Finland Software Industry Revenue Growth Rate Market Cap Weighted Average 13.3%
Finland Market Earnings Growth Rate Market Cap Weighted Average 9.1%
Finland Market Revenue Growth Rate Market Cap Weighted Average 2.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
HLSE:FSC1V Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
HLSE:FSC1V Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 305 59 1
2023-12-31 285 57 1
2022-12-31 264 44 22 2
2021-12-31 247 40 17 2
2020-12-31 231 29 13 2
2020-04-07
HLSE:FSC1V Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 217 18 3
2019-09-30 215 19 3
2019-06-30 212 14 2
2019-03-31 201 6 -1
2018-12-31 191 7 1
2018-09-30 181 10 4
2018-06-30 172 14 6
2018-03-31 172 20 11
2017-12-31 170 26 11
2017-09-30 168 24 15
2017-06-30 165 30 14
2017-03-31 161 28 14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • F-Secure Oyj's earnings are expected to grow significantly at over 20% yearly.
  • F-Secure Oyj's revenue is expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
HLSE:FSC1V Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from F-Secure Oyj Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:FSC1V Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 0.14 0.14 0.14 1.00
2021-12-31 0.11 0.11 0.10 2.00
2020-12-31 0.08 0.08 0.08 1.00
2020-04-07
HLSE:FSC1V Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.02
2019-09-30 0.01
2019-06-30 0.02
2019-03-31 -0.01
2018-12-31 0.01
2018-09-30 0.03
2018-06-30 0.04
2018-03-31 0.06
2017-12-31 0.07
2017-09-30 0.09
2017-06-30 0.09
2017-03-31 0.10

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • F-Secure Oyj is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess F-Secure Oyj's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Finland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Finland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
F-Secure Oyj has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FSC1V Past Performance

  How has F-Secure Oyj performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare F-Secure Oyj's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • F-Secure Oyj's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • F-Secure Oyj's 1-year earnings growth exceeds its 5-year average (298.7% vs -35.3%)
  • F-Secure Oyj's earnings growth has exceeded the FI Software industry average in the past year (298.7% vs 90%).
Earnings and Revenue History
F-Secure Oyj's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from F-Secure Oyj Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HLSE:FSC1V Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 217.34 3.37 123.21 39.57
2019-09-30 214.93 2.54 119.26 38.94
2019-06-30 211.73 2.44 120.36 37.54
2019-03-31 201.03 -1.16 115.26 36.34
2018-12-31 190.73 0.84 109.76 35.74
2018-09-30 181.35 3.66 107.42 34.49
2018-06-30 172.05 6.16 99.72 34.59
2018-03-31 171.95 10.76 99.62 35.09
2017-12-31 169.75 11.06 100.62 34.09
2017-09-30 167.79 14.63 103.71 33.50
2017-06-30 165.39 14.23 108.11 31.60
2017-03-31 161.39 14.33 108.51 29.60
2016-12-31 158.29 15.73 109.21 28.40
2016-09-30 154.81 9.17 108.17 27.39
2016-06-30 153.31 10.17 105.17 27.39
2016-03-31 149.51 8.77 102.27 26.89
2015-12-31 147.61 12.07 99.07 26.89
2015-09-30 143.23 17.87 92.99 25.94
2015-06-30 140.43 20.47 87.29 26.54
2015-03-31 139.33 21.07 82.29 28.44
2014-12-31 137.43 18.57 79.09 29.64
2014-09-30 142.90 17.87 78.01 34.19
2014-06-30 146.70 16.77 78.71 36.59
2014-03-31 150.70 15.47 81.21 39.59
2013-12-31 155.10 16.47 82.01 41.69
2013-09-30 155.27 11.66 81.51 41.57
2013-06-30 156.07 12.76 81.11 42.67

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • F-Secure Oyj has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • F-Secure Oyj used its assets less efficiently than the FI Software industry average last year based on Return on Assets.
  • F-Secure Oyj's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess F-Secure Oyj's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
F-Secure Oyj has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FSC1V Health

 How is F-Secure Oyj's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up F-Secure Oyj's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • F-Secure Oyj's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • F-Secure Oyj's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of F-Secure Oyj's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from F-Secure Oyj Company Filings, last reported 3 months ago.

HLSE:FSC1V Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 76.16 31.00 25.49
2019-09-30 71.40 34.10 24.90
2019-06-30 69.80 33.90 25.60
2019-03-31 68.80 37.00 23.50
2018-12-31 66.28 37.06 27.86
2018-09-30 66.90 37.20 21.60
2018-06-30 66.80 0.00 79.80
2018-03-31 71.90 0.00 88.50
2017-12-31 70.58 0.00 90.22
2017-09-30 66.70 0.00 81.10
2017-06-30 63.90 0.00 80.70
2017-03-31 77.40 0.00 96.40
2016-12-31 75.91 0.00 92.72
2016-09-30 70.20 0.00 86.70
2016-06-30 67.00 0.00 81.00
2016-03-31 80.00 0.00 93.10
2015-12-31 77.06 0.00 94.36
2015-09-30 77.40 0.00 80.60
2015-06-30 74.60 0.00 76.30
2015-03-31 98.10 0.00 110.30
2014-12-31 79.93 0.00 61.38
2014-09-30 75.60 0.00 51.70
2014-06-30 69.40 0.00 47.40
2014-03-31 74.70 0.00 53.10
2013-12-31 72.76 0.00 47.90
2013-09-30 68.10 0.00 39.40
2013-06-30 62.60 0.00 34.10
  • F-Secure Oyj's level of debt (40.7%) compared to net worth is high (greater than 40%).
  • Unable to establish if F-Secure Oyj's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (59.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.2x coverage).
X
Financial health checks
We assess F-Secure Oyj's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. F-Secure Oyj has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FSC1V Dividends

 What is F-Secure Oyj's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from F-Secure Oyj dividends. Estimated to be 2.1% next year.
If you bought €2,000 of F-Secure Oyj shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate F-Secure Oyj's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate F-Secure Oyj's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
HLSE:FSC1V Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Europe Software Industry Average Dividend Yield Market Cap Weighted Average of 77 Stocks 1.5%
Finland Market Average Dividend Yield Market Cap Weighted Average of 95 Stocks 5%
Finland Minimum Threshold Dividend Yield 10th Percentile 2.1%
Finland Bottom 25% Dividend Yield 25th Percentile 3.2%
Finland Top 25% Dividend Yield 75th Percentile 6.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

HLSE:FSC1V Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 0.06 2.00
2020-12-31 0.04 1.00
2020-04-07
HLSE:FSC1V Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-10-30 0.000 0.000
2019-07-19 0.000 0.000
2019-05-08 0.000 0.000
2019-03-19 0.000 0.000
2018-02-09 0.040 1.326
2017-04-05 0.060 1.482
2016-03-10 0.060 1.972
2015-04-08 0.060 2.228
2014-03-10 0.060 2.523
2013-03-07 0.060 3.211
2012-07-25 0.060 3.650
2012-03-08 0.060 3.709
2011-03-08 0.060 2.770
2010-03-24 0.060 2.742

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as F-Secure Oyj has not reported any payouts.
  • Unable to verify if F-Secure Oyj's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of F-Secure Oyj's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as F-Secure Oyj has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of F-Secure Oyj's dividends in 3 years as they are not expected to pay a notable one for Finland.
X
Income/ dividend checks
We assess F-Secure Oyj's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 2.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can F-Secure Oyj afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. F-Secure Oyj has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FSC1V Management

 What is the CEO of F-Secure Oyj's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Samu Konttinen
COMPENSATION €466,770
AGE 46
TENURE AS CEO 3.7 years
CEO Bio

Mr. Samu Konttinen has been the Chief Executive Officer and President of F-Secure Oyj since August 1, 2016 and serves as its Managing Director. Mr. Konttinen served as an Executive Vice President of Corporate Security at F-Secure Oyj since February 1, 2016 until July 2016. Mr. Konttinen served as an Executive Vice President of Consumer Security at F-Secure Oyj until January 31, 2016 and served as its Executive Vice President of Customer and Market Operations. Mr. Konttinen served as Vice President of Sales, Marketing and Geographical Operations at F-Secure Oyj. He served as Vice President of Mobile Solutions Business Unit at F-Secure Oyj. He joined F-Secure in 2005 and prior to his current position he worked in sales and channel management roles, including a position of Director of Regional Operations, covering F-Secure operations in +20 countries in EMEA. Prior to F-Secure, he served as a Vice President of Valimo Wireless Ltd., from 2001 to 2005. He had been a Director of Digitalist Group Plc since March 29, 2011 to April 2018. Mr. Konttinen has studied Business Administration at Haaga-Helia University of Applied Sciences.

CEO Compensation
  • Samu's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Samu's remuneration is about average for companies of similar size in Finland.
Management Team Tenure

Average tenure and age of the F-Secure Oyj management team in years:

2.3
Average Tenure
48.5
Average Age
  • The tenure for the F-Secure Oyj management team is about average.
Management Team

Risto Siilasmaa

TITLE
Founder & Non-Independent Chairman
COMPENSATION
€80K
AGE
53

Samu Konttinen

TITLE
President
COMPENSATION
€467K
AGE
46
TENURE
3.7 yrs

Eriikka Söderström

TITLE
Chief Financial Officer
AGE
51
TENURE
3.2 yrs

Jyrki Tulokas

TITLE
Chief Technology Officer
AGE
44
TENURE
0.5 yrs

Jari Still

TITLE
Chief Information Officer
AGE
54
TENURE
4.2 yrs

Antti Hovila

TITLE
Executive Vice President of Strategy
AGE
38
TENURE
1.3 yrs

Eva Tuominen

TITLE
Executive Vice President of People Operations & Culture
AGE
43
TENURE
1.1 yrs

Kristian Jarnefelt

TITLE
Executive Vice President of Consumer Security
AGE
54
TENURE
4.2 yrs

Juha Kivikoski

TITLE
Executive Vice President of Business Security
AGE
49
TENURE
2.1 yrs

Ian Shaw

TITLE
Executive Vice President of Cyber Security Consulting
AGE
48
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the F-Secure Oyj board of directors in years:

3
Average Tenure
51.5
Average Age
  • The tenure for the F-Secure Oyj board of directors is about average.
Board of Directors

Risto Siilasmaa

TITLE
Founder & Non-Independent Chairman
COMPENSATION
€80K
AGE
53
TENURE
13.4 yrs

Pertti Ervi

TITLE
Independent Vice Chairman
COMPENSATION
€48K
AGE
62

Bruce Oreck

TITLE
Independent Director
COMPENSATION
€38K
AGE
66
TENURE
4 yrs

Päivi Rekonen

TITLE
Independent Director
COMPENSATION
€38K
AGE
50
TENURE
3 yrs

Tuomas Syrjänen

TITLE
Independent Director
COMPENSATION
€38K
AGE
43
TENURE
1.1 yrs

Matti Aksela

TITLE
Non-Independent Director
COMPENSATION
€13K
AGE
44
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess F-Secure Oyj's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. F-Secure Oyj has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FSC1V News

Simply Wall St News

Is F-Secure Oyj (HEL:FSC1V) Potentially Undervalued?

Great news for investors – F-Secure Oyj is still trading at a fairly cheap price. … This is because F-Secure Oyj’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

Simply Wall St -

Based On Its ROE, Is F-Secure Oyj (HEL:FSC1V) A High Quality Stock?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for F-Secure Oyj: 3.5% = €2.4m ÷ €70m (Based on the trailing twelve months to June 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. … Combining F-Secure Oyj's Debt And Its 3.5% Return On Equity F-Secure Oyj has a debt to equity ratio of 0.49, which is far from excessive.

Simply Wall St -

How Does Investing In F-Secure Oyj (HEL:FSC1V) Impact The Volatility Of Your Portfolio?

Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … This is above 1, so historically its share price has been influenced by the broader volatility of the stock market. … What this means for you: Beta only tells us that the F-Secure Oyj share price is sensitive to broader market movements.

Simply Wall St -

Is F-Secure Oyj (HEL:FSC1V) A Risky Investment?

We note that F-Secure Oyj (HEL:FSC1V) does have debt on its balance sheet. … Since F-Secure Oyj does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … But it is future earnings, more than anything, that will determine F-Secure Oyj's ability to maintain a healthy balance sheet going forward.

Simply Wall St -

Does F-Secure Oyj's (HEL:FSC1V) CEO Pay Matter?

We looked at a group of companies with market capitalizations from €178m to €712m, and the median CEO total compensation was €455k. … Thus we can conclude that Samu Konttinen receives more in total compensation than the median of a group of companies in the same market, and of similar size to F-Secure Oyj. … We compared total CEO remuneration at F-Secure Oyj with the amount paid at companies with a similar market capitalization.

Simply Wall St -

Why F-Secure Oyj (HEL:FSC1V) Could Be Worth Watching

Let’s take a look at F-Secure Oyj’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … This is because F-Secure Oyj’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations.

Simply Wall St -

Volatility 101: Should F-Secure Oyj (HEL:FSC1V) Shares Have Dropped 25%?

Investors in F-Secure Oyj (HEL:FSC1V) have tasted that bitter downside in the last year, as the share price dropped 25%. … Longer term investors have fared much better, since the share price is up 11% in three years. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

Simply Wall St -

How Financially Strong Is F-Secure Oyj (HEL:FSC1V)?

While small-cap stocks, such as F-Secure Oyj (HEL:FSC1V) with its market cap of €428m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is. … Let's work through some financial health checks you may wish to consider if you're interested in this stock.

Simply Wall St -

Can F-Secure Oyj (HEL:FSC1V) Improve Its Returns?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … That means that for every €1 worth of shareholders' equity, it generated €0.013 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Do Insiders Own Lots Of Shares In F-Secure Oyj (HEL:FSC1V)?

If you want to know who really controls F-Secure Oyj (HEL:FSC1V), then you'll have to look at the makeup of its share registry. … With a market capitalization of €383m, F-Secure Oyj is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for F-Secure Oyj

Simply Wall St -

FSC1V Company Info

Description

F-Secure Oyj provides cyber security products and services in Nordic countries, rest of Europe, North America, and internationally. Its corporate security solutions include F-Secure Radar, a vulnerability scanning and management platform; phishd, an anti-phishing behavior management platform; F-Secure Protection Service for Business, a cloud-hosted endpoint security; F-Secure Business Suite, an on-site deployed endpoint security; F-Secure Cloud Protection for Salesforce, a content level security for Salesforce’s customers; F-Secure Rapid Detection and Response, a customer or partner-managed endpoint detection and response solution for detecting and responding to targeted attacks; F-Secure Rapid Detection and Response Service, a managed detection and response service; and Countercept, a threat hunting and continuous response capabilities against targeted attacks delivered as a managed service. The company also provides cyber security services comprising F-Secure cyber incident and resilience services, F-Secure security assessments, F-Secure red team testing, and F-Secure cyber risk management. In addition, it offers consumer security solutions, including F-Secure SAFE, an antivirus and Internet security solution; F-Secure KEY, a password manager; F-Secure FREEDOME, a VPN that hides online activity to ensure anonymous and secure Internet browsing; F-Secure SENSE, a security solution for connected home devices; F-Secure Internet Security for secure Internet surfing with browsing protection; and F-Secure Anti-Virus, a malware removal technology software. The company serves consumers and business customers through a network of approximately 200 telecommunications operators, as well as through thousands of IT service and retail partners. F-Secure Oyj was founded in 1988 and is headquartered in Helsinki, Finland.

Details
Name: F-Secure Oyj
FSC1V
Exchange: HLSE
Founded: 1988
€401,627,017
158,120,873
Website: http://www.f-secure.com
Address: F-Secure Oyj
Tammasaarenkatu 7,
PO Box 24,
Helsinki,
Uusimaa, 00181,
Finland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HLSE FSC1V Ordinary Shares OMX Nordic Exchange Helsinki FI EUR 08. Nov 1999
OTCPK FSOY.F Ordinary Shares Pink Sheets LLC US USD 08. Nov 1999
DB DTV Ordinary Shares Deutsche Boerse AG DE EUR 08. Nov 1999
LSE 0EIE Ordinary Shares London Stock Exchange GB EUR 08. Nov 1999
BATS-CHIXE FSC1VH Ordinary Shares BATS 'Chi-X Europe' GB EUR 08. Nov 1999
Number of employees
Current staff
Staff numbers
1,696
F-Secure Oyj employees.
Industry
Systems Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 01:11
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/02/12
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.