Thanks for asking. For the benefit of Duell investors, I had to take a look at the fundamentals, even though the company has never interested Juurikki.
Regarding the key figures, the net gearing ratio of 211.9% stands out the most. In times of rising interest rates, it is likely a burden worth taking into account.
According to KL, the earnings per share (EPS) shows that profits are made in the summer and losses in the winter. EPS 3-8/21: €0.10, 9/21 - 2/22: -€0.02, 3-8/22: €0.10 and 9/22 - 2/23: -€0.10. The net profit for these four half-years has been €2.44M, -€0.512M, €2.44M and -€1.8M.
As a P/E ratio, this makes 32.0, which is about double compared to the average of the Helsinki Stock Exchange.
Revenue growth has been good except for the very last report. The P/B ratio, i.e., share price per share book value, is a quite tolerable 0.88, but Juurikki doesn’t have time right now to dig deeper into what the balance sheet contains. In particular, it would be good to clarify the amount of goodwill.
When considering investments, one should probably ask at a fairly early stage whether the company is making a profit. Duell’s return on equity (ROE) is a modest 2.8%. Return on investment (ROI) is 0.3%, which is likely more than the interest paid on the debt.
In summary, it can be concluded that those investing in Duell seem to consider the company a turnaround company, and the sluggishness of recent years is due to rapid expansion through acquisitions. It doesn’t fit in Juurikki’s bag, as Juurikki’s turnaround quota is already full of Nokia, and even if it weren’t, the probability of a turnaround would need to be higher. Duell - moottoriurheilua osakemarkkinoille
This is not investment advice nor an investment warning.