Bittium Oyj
Bittium Oyj provides communications and connectivity solutions under the Bittium brand in Finland, the rest of Europe, the Americas, and Asia. It operates through Defense & Security, Medical, and Engineering Services segments. The company offers Faros, an ECG monitor for early detection of cardiac …
Bittium Oyj provides communications and connectivity solutions under the Bittium brand in Finland, the rest of Europe, the Americas, and Asia. It operates through Defense & Security, Medical, and Engineering Services segments. The company offers Faros, an ECG monitor for early detection of cardiac abnormalities; OmegaSnap, a wearable disposable patch electrode for long-term ECG measurements; Cardiac Navigator, a software solution for analyzing clinical Holter ECG recordings; MedicalSuite, a cloud-based software-as-a-service solution for data sharing and management; Respiro, a recording device for nocturnal polygraph examinations; BrainStatus, a wireless and compact EEG amplifier for continuous EEG measurements in intensive care units; and NeurOne, an EEG/ERP device. It also provides Tough Mobile, Tough Mobile 2, and Tough Mobile 2 Tactical smartphones; Secure Suite, a device management and encryption software; Secure Call, a communication application; SafeMove Mobile VPN; SafeMove Analytics, a monitoring and reporting module; Tactical Wireless IP Network, a software-defined radio-based wireless broadband network system; Tough SDR; Tough VoIP; Tough Comnode; Tough VoIP Field Phone; Tough VoIP Service; Tough VoIP Softphone; Tactical Power Pack; Tactical Device Management; Tactical Network Management, a visual system for managing tactical communication networks and network nodes; and lifecycle services. In addition, the company offers product design, development, and maintenance; feasibility study, mock-ups, proof-of-concept, and system architecture; and engineering design, build and manufacture, testing, certification, and production ramp-up services. It serves the defense and security, industrial IoT, medical and healthcare, telecommunications, and satellite and wireless industries. The company was formerly known as Elektrobit Corporation and changed its name to Bittium Oyj in July 2015. Bittium Oyj was founded in 1985 and is headquartered in Oulu, Finland.Looks overvalued
5-year outlook: Not shown because confidence is low: Earnings-based DCF disagrees strongly.
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price above modeled range
Showing the EV/EBITDA (12x) you selected on the company card, using 15.95% growth, 3.25% terminal growth and 11.5% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 15.95%, discount rate 11.50%, terminal growth 3.25% (sector defaults). See a worked example.
Blended growth assumption: 15.9% (sector default 8.5%, own revenue history 13.1%, analyst revenue consensus 21.1%).
Analyst consensus expects revenue growth of 21.1% a year; the growth assumption used is 16.0%.
Adjust assumptions
Show the recommended model instead
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — EUR 36.56 (+8.8%)
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EPS-based Gordon proxy
— EUR 10.93 (-67.5%)
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 36.56 (+8.8%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— EUR 22.25 (-33.8%)
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 21.01 (-37.5%)
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 36.09 (+7.4%)
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 49.20 (+46.4%)
Not used: Used only when cash-flow models land far below the price; here they do not.
| Bear EUR 17.64 | -90.5% |
| Base EUR 21.01 | -59.9% |
| Bull EUR 24.38 | -37.8% |
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
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: 88 / 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 3 of 5 years | 12 / 20 |
| Growth | revenue +18.7% a year | 20 / 20 |
| Balance sheet | net cash | 20 / 20 |
| Margins | EBITDA margin 37% | 20 / 20 |
Peers in Information Technology
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 |
|---|---|---|---|---|---|---|
| BITTI.HE (this company) | EUR 33.60 | 8.1% | 38.5 | 9.0 | 0.7% | 88 |
| SMCI Supermicro | USD 28.56 | 48.1% | 8.9 | 1.4 | – | 68 |
| ADBE Adobe Inc. | USD 240.53 | 43.9% | 13.0 | 8.1 | – | 100 |
| SNDK Sandisk | USD 873.36 | 39.5% | 6.9 | 7.4 | – | 76 |
| IT Gartner | USD 190.76 | 38.1% | 12.8 | – | – | 92 |
| INTU Intuit | USD 346.10 | 33.6% | 20.6 | 5.0 | 1.4% | 100 |
| HPQ HP Inc. | USD 29.33 | 31.9% | 11.1 | – | 4.0% | 64 |
| GIB-A.TO CGI Inc. | CAD 113.61 | 28.1% | 13.7 | 2.3 | 0.6% | 90 |
| FSLR First Solar | USD 196.17 | 25.8% | 11.4 | 1.9 | – | 84 |
| Peer median | 12.1 | 3.6 | ||||
Dividends
Paid in the last 12 months: EUR 0.30 per share · yield 0.89% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.300 |
| 2025 | 0.100 |
| 2024 | 0.060 |
| 2023 | 0.050 |
| 2022 | 0.040 |
| 2021 | 0.031 |
Trailing 12-month financials
TTM through 30 Jun 2026 · quarterly EODHD data · data downloaded 04 Nov 2026 18:01
| Revenue | EUR 163,850,000 |
|---|---|
| EBITDA | EUR 59,928,500 |
| EBIT | EUR 32,850,000 |
| Net income | EUR 31,050,000 |
| Free cash flow | EUR 60,990,498 |
| Capital expenditures | EUR 3,426,000 |
| Debt | EUR 18,800,000 |
| Cash | EUR 46,500,000 |
| Working capital | EUR 65,900,000 |
| Shares outstanding | 35,547,000 |
| Reported dividends per share | EUR 0.2257 |