Wärtsilä Oyj Abp
Wärtsilä Oyj Abp offers technologies and lifecycle solutions for the marine and energy markets worldwide. It offers energy storage; engine and hybrid power plants; and data centre power solutions, as well as lifecycle solutions, lifecycle upgrades, spare parts and field services, and decarbonisatio…
Wärtsilä Oyj Abp offers technologies and lifecycle solutions for the marine and energy markets worldwide. It offers energy storage; engine and hybrid power plants; and data centre power solutions, as well as lifecycle solutions, lifecycle upgrades, spare parts and field services, and decarbonisation solutions. It also provides engine power plant products, such as gas, multi-fuel, and diesel engines; Quantum BESS portfolio, a battery energy storage system (BESS) solutions; GEMS Digital Energy Platform, a software platform that monitors, controls, and optimizes energy assets on site and portfolio levels. In addition, the company offers power and propulsion products, such as electric shipping and hybrid ships, engine and generating sets, propulsors and gears, and shaft line solutions; liquid and gas handling products, including ballast water management, freshwater generation, waste and wastewater treatment, gas solutions, and exhaust treatment equipment; port and fleet optimization; simulation and training solutions; and marine navigation solutions. The company collaborate with RCT Solutions to launch Valo which is a global battery energy storage system integrator. Further, it provides spare parts, technical support, maintenance and repair, lifecycle upgrades, lifecycle agreements, training, and cyber services; and decarbonization solutions for existing fleets and newbuild vessels. The company was founded in 1834 and is headquartered in Helsinki, Finland.Looks undervalued
Why: Free cash flow is far below earnings (heavy investment), and even a three-year average understates value, so an EV/EBITDA multiple, which is not distorted by capex timing, fits best.
Details and the full model are below.
Market price below modeled range
Showing the DCF (trailing free cash flow) you selected on the company card, using 6.47% growth, 2.7% terminal growth and 10% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 6.47%, discount rate 10%, terminal growth 2.70% (sector defaults). See a worked example.
Blended growth assumption: 6.5% (sector default 6.2%, own revenue history 5.8%, analyst revenue consensus 7.0%).
5-year outlook: relative outlook of about 8.2% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 7.0% a year; the growth assumption used is 6.5%.
Adjust assumptions
Show the recommended model instead
Why this model: Free cash flow is far below earnings (heavy investment), and even a three-year average understates value, so an EV/EBITDA multiple, which is not distorted by capex timing, fits best.
Compare models- Recommended: EV/EBITDA (12x) — EUR 26.29 (+3.6%)
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EPS-based Gordon proxy
— EUR 14.31 (-43.6%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— EUR 46.94 (+84.9%)
Not used: Free cash flow is 2.6x net income, which usually means costs such as lease payments sit outside operating cash flow, so it may be overstated.
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FCFF (steady state)
— EUR 40.52 (+59.7%)
Not used: Free cash flow is 2.6x net income, which usually means costs such as lease payments sit outside operating cash flow, so it may be overstated.
- EV/EBITDA (12x) — EUR 26.29 (+3.6%)
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Fade DCF (10-year growth fade)
— EUR 46.71 (+84.0%)
Not used: Free cash flow is 2.6x net income, which usually means costs such as lease payments sit outside operating cash flow, so it may be overstated.
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EV/Sales (Rule of 40)
— EUR 56.12 (+121.1%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear EUR 35.13 | 27.8% |
| Base EUR 46.94 | 45.9% |
| Bull EUR 68.13 | 62.7% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
5 years price change: +123.63% · EUR 24.94 · Market data through 05 Nov 2026 ; dashed line is today’s model base value (EUR 46.94). The fair value is today’s estimate, not what the model said in the past.
Saved price history is current through 05 Nov 2026; last refreshed 06 Nov 2026 09:02 (5 hours, 27 minutes ago).
03 Jan 2022Range EUR 6.15 – 36.6705 Nov 2026
More detail: quality, peers, price history, dividends and financials
Quality score: 74 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 4 of 5 years profitable | 16 / 20 |
| Cash generation | free cash flow positive in 4 of 5 years | 16 / 20 |
| Growth | revenue +3.1% a year | 12 / 20 |
| Balance sheet | net cash | 20 / 20 |
| Margins | EBITDA margin 17% | 10 / 20 |
Peers in Industrials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| WRT1V.HE (this company) | EUR 25.38 | 3.5% | 24.9 | 5.6 | 2.1% | 74 |
| EZJ.L easyJet plc | GBP 6.88 | 74.3% | 10.6 | 1.5 | 1.7% | 78 |
| WAWI.OL Wallenius Wilhelmsen ASA | NOK 160.80 | 64.8% | 7.0 | 2.2 | 0.3% | 100 |
| IAG.L International Consolidated Airlines Group S.A. | GBP 4.37 | 58.9% | 8.0 | 3.5 | 1.8% | 92 |
| TPK.L Travis Perkins plc | GBP 6.54 | 54.7% | – | 0.8 | 2.1% | 46 |
| SRP.L Serco Group plc | GBP 2.77 | 46.2% | 19.7 | 3.3 | 1.5% | 82 |
| DFDS.CO DFDS A/S | DKK 157.30 | 45.9% | – | 0.6 | – | 64 |
| DG.PA VINCI SA | EUR 111.75 | 42.2% | 12.9 | 2.1 | 4.2% | 90 |
| HAFNI.OL Hafnia Limited | NOK 89.00 | 40.8% | 7.2 | 1.8 | 1.2% | 100 |
| Peer median | 9.3 | 1.9 | ||||
Dividends
Paid in the last 12 months: EUR 1.06 per share · yield 4.18% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 1.060 |
| 2025 | 0.440 |
| 2024 | 0.320 |
| 2023 | 0.260 |
| 2022 | 0.240 |
| 2021 | 0.200 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 09:03
| Revenue | EUR 6,610,000,000 |
|---|---|
| EBITDA | EUR 1,134,000,000 |
| EBIT | EUR 903,000,000 |
| Net income | EUR 601,000,000 |
| Free cash flow | EUR 1,565,000,000 |
| Capital expenditures | EUR 174,000,000 |
| Debt | EUR 548,000,000 |
| Cash | EUR 2,469,000,000 |
| Working capital | EUR 1,175,000,000 |
| Shares outstanding | 590,742,078 |
| Reported dividends per share | EUR 0.5400 |