Hiab Oyj
Hiab Oyj provides smart and on road load-handling solutions and services in Finland. The company provides loader cranes under HIAB, EFFER, and ARGOS brands; truck-mounted forklifts under MOFFETT and PRINCETON brands; forestry cranes under LOGLIFT brand; recycling cranes under JONSERED brand; demoun…
Hiab Oyj provides smart and on road load-handling solutions and services in Finland. The company provides loader cranes under HIAB, EFFER, and ARGOS brands; truck-mounted forklifts under MOFFETT and PRINCETON brands; forestry cranes under LOGLIFT brand; recycling cranes under JONSERED brand; demountable and hooklifts under MULTILIFT brand; roll-off cable hoists under GALFAB brand; tail lifts under ZEPRO, DEL, and WALTCO brands. It also offers maintenance, equipment warranty, and spare parts. The company serves waste and recycling, defense logistics, retail and final mile, and construction industries. The company was formerly known as Cargotec Corporation and changed its name to Hiab Oyj in March 2025. Hiab Oyj was founded in 1944 and is headquartered in Helsinki, Finland.Priced within the modelled range
Other models: EUR 26.80–52.66 (median 41.67). The recommended value is in line with them.
Why: Dividends are a large share of earnings, so the cash paid to shareholders is the best guide to value.
Details and the full model are below.
Market price within modeled range
Uses reported dividends of EUR 2.7700 per share from TTM through 30 Sep 2026, with 2.7% perpetual growth (base growth capped at the terminal rate) and 10% discount rates. The range varies growth and discount assumptions by 1 percentage point; it is illustrative, not a statistical confidence interval or investment advice.
Assumptions: growth 3% (limited from 7.83% because the latest annual revenue declined), discount rate 10%, terminal growth 2.70%. See a worked example.
Blended growth assumption: 7.8% (sector default 6.2%, own revenue history -10.0%, analyst revenue consensus 17.6%).
5-year outlook: relative outlook of about 10.4% 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 17.6% a year; the growth assumption used is 3.0%.
Adjust assumptions
Why this model: Dividends are a large share of earnings, so the cash paid to shareholders is the best guide to value.
Compare models- Recommended: Dividend discount model — EUR 38.97 (-20.6%)
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EPS-based Gordon proxy
— EUR 26.80 (-45.4%)
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 42.14 (-14.2%)
Not used: Not chosen: Dividend discount model ranks ahead of it for this company.
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FCFF (steady state)
— EUR 41.67 (-15.1%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— EUR 52.66 (+7.3%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— EUR 42.12 (-14.2%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— EUR 99.87 (+103.4%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear EUR 30.29 | -62.1% |
| Base EUR 38.97 | -26.0% |
| Bull EUR 54.20 | 9.4% |
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.
At EUR 49.10 the market implies perpetual dividend growth of about this rate (discount rate 10.0%).
Compare: the market implies 4.1% a year, this model assumes 2.7%. The market expects more than this model does, which is why it reads as overvalued.
How the Dividend discount model value changes with growth (rows) and discount rate (columns). Green cells are above the current price. Dividend growth cannot exceed the long-run rate, so duplicate capped scenarios are omitted.
| Growth \ Discount | 8.0% | 9.0% | 10.0% | 11.0% | 12.0% |
|---|---|---|---|---|---|
| -1.3% | 29.40 | 26.54 | 24.19 | 22.23 | 20.56 |
| 0.7% | 38.21 | 33.61 | 29.99 | 27.08 | 24.68 |
| 2.7% | 53.68 | 45.16 | 38.97 | 34.27 | 30.59 |
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
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
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 | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue -20.1% a year | 4 / 20 |
| Balance sheet | net cash | 20 / 20 |
| Margins | EBITDA margin 15% | 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 |
|---|---|---|---|---|---|---|
| HIAB.HE (this company) | EUR 49.10 | -26.0% | 25.8 | 3.0 | 5.6% | 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 | 64.6% | 7.1 | 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 1.17 per share · yield 2.38% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 1.170 |
| 2025 | 2.770 |
| 2024 | 2.150 |
| 2023 | 1.350 |
| 2022 | 1.080 |
| 2021 | 1.080 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 05 Nov 2026 16:06
| Revenue | EUR 1,663,700,000 |
|---|---|
| EBITDA | EUR 256,800,000 |
| EBIT | EUR 198,600,000 |
| Net income | EUR 123,200,000 |
| Free cash flow | EUR 168,500,000 |
| Capital expenditures | EUR 5,700,000 |
| Debt | EUR 0 |
| Cash | EUR 323,800,000 |
| Working capital | EUR 520,900,000 |
| Shares outstanding | 64,666,667 |