Forecast

Financial forecast

Project revenue, EBITDA, net income and free cash flow for the next 5 or 10 years. Growth starts at the same rate the valuation uses and fades to the long-run rate, with margins held at today's level. Bear and bull cases move growth by the company's own revenue volatility. It is a model of what the assumptions imply, not a prediction.

Hiab Oyj (HIAB.HE)

Price updated 06 Nov 2026 09:56; TTM through 30 Sep 2026; TTM financials updated 06 Nov 2026 13:20.

Starts from TTM through 30 Sep 2026 financials in EUR and a share price of EUR 49.10. Growth begins at 3.0% a year (capped from 7.8% because the latest annual revenue declined) and fades to 2.7% by year 10. Margins held at EBITDA 15.4%, net 7.4%, free cash flow 10.1% of revenue. Bear and bull move starting growth by 6.0 points and long-run growth by 1 point.

Starting growth was capped from 7.8% to 3.0% because the latest annual revenue declined.
Year 1 uses analyst consensus revenue growth (17.6%); year 2 is halfway back to the model's own path.
EUR 38.97Model fair value (Dividend discount model); range EUR 30.29 to EUR 54.20
-21%Fair value vs today's price
HighModel confidence
75%Share of the gap to fair value the price closes by year 5

Confidence: Free-cash-flow DCF agrees; trailing-twelve-month data; profit and cash flow steady for 3 years.

6.8%/yrModel-implied annual total return over 10 years, base case (price plus dividends). Raw model level; the screener shows a calibrated ranking instead
EUR 2.69BRevenue in year 10 (base)
EUR 199.44MNet income in year 10 (base)
EUR 272.77MFree cash flow in year 10 (base)
EUR 3.08Dividend per share in year 10 (base)
EUR 67.18Implied share price in year 10 (base), today EUR 49.10
8.6%Year-10 free cash flow per share vs today's price

Dividend per share over time

EUR 0.00 EUR 1.07 EUR 2.14 EUR 3.20 EUR 4.27 FY2022 FY2023 FY2024 FY2025 TTM through 30 Sep 2026 +1 +2 +3 +4 +5 +6 +7 +8 +9 +10
Solid: reported Dashed: base projection Shaded: bear to bull range
Dividend per share in year 10 by scenario
CaseStarting growthYear 10Annual growth
Bear 11.6% EUR 2.20 -2.3%
Base 17.6% EUR 3.08 1.1%
Bull 23.6% EUR 4.27 4.4%

Base case by year

YearGrowthRevenueEBITDANet incomeFree cash flowEPSFCF / shareDividend / shareBook / shareImplied price
TTM through 30 Sep 2026– EUR 1.66BEUR 256.80MEUR 123.20MEUR 168.50M 1.912.612.7716.2149.10
Year 117.6% EUR 1.96BEUR 301.89MEUR 144.83MEUR 198.09M 2.243.062.2416.2155.94
Year 210.3% EUR 2.16BEUR 332.88MEUR 159.70MEUR 218.42M 2.473.382.4716.2159.71
Year 32.9% EUR 2.22BEUR 342.64MEUR 164.38MEUR 224.83M 2.543.482.5416.2159.43
Year 42.9% EUR 2.28BEUR 352.58MEUR 169.15MEUR 231.35M 2.623.582.6216.2159.07
Year 52.9% EUR 2.35BEUR 362.69MEUR 174.00MEUR 237.98M 2.693.682.6916.2158.62
Year 62.8% EUR 2.42BEUR 372.96MEUR 178.93MEUR 244.72M 2.773.782.7716.2160.28
Year 72.8% EUR 2.48BEUR 383.41MEUR 183.94MEUR 251.57M 2.843.892.8416.2161.96
Year 82.8% EUR 2.55BEUR 394.01MEUR 189.03MEUR 258.53M 2.924.002.9216.2163.68
Year 92.7% EUR 2.62BEUR 404.78MEUR 194.20MEUR 265.60M 3.004.113.0016.2165.42
Year 102.7% EUR 2.69BEUR 415.71MEUR 199.44MEUR 272.77M 3.084.223.0816.2167.18

EPS and free cash flow per share assume today's share count. Dividends assume today's payout ratio and book value grows with retained earnings. The implied share price follows the valuation models and is not a price target; override growth settings do not change the model fair value. Margins stay at today's level except where the notes say they drift toward their average, so it does not model margin expansion, buybacks, acquisitions or recessions. It is for information and education only and is not investment advice. See the methodology for how the growth rate is blended.