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Harvia Oyj (HARVIA.HE)

EUR41.10 -0.20 (-0.48%)
FI HEL Consumer Cyclical Leisure
Address Teollisuustie 1-7 40951
Muurame, FI
CEO Matias Jarnefelt
Website harvia.com
IPO 2018-03-22
ISIN FI4000306873

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Also trades on NASDAQ Helsinki · HARVIA.HE (EUR) Other OTC · HRVFF (USD)
Description

Harvia Oyj, founded in Muurame, Finland, in 1950, is a prominent manufacturer and global distributor specializing in comprehensive sauna experiences. The company's diverse product range encompasses traditional, steam, and infrared saunas, alongside a wide array of heating solutions including electric, wood-burning, and steam generators. Additionally, Harvia supplies essential components such as control units, hot tubs, pre-built sauna rooms, infrared cabins, and spa modules. Beyond the core systems, their offerings extend to crucial spare parts like heater components and sauna stones, as well as an extensive selection of accessories, including sound and lighting solutions, water hygiene products, sauna scents, buckets, ladles, thermometers, and textiles. Harvia also provides vital services such as installation, maintenance, and repair for its products, and it engages in real estate activities. The company reaches its customer base through a robust network of retailers and wholesalers across Finland, various EU countries, North America, Germany, Russia, the Nordic region, and other international markets.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
EUR41.10 -0.20 (-0.48%)
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Volume Profile
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Liquidity & share structure
Average Volume
28.7K
Beta
1.27
Float Shares
15.20M
Free Float %
81.3%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.91% -4.33% +10.41% +9.01% -9.26% -9.58% -19.46% +61.25% -3.73% +674.00% +674.00%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
41.10
DCF (Unlevered) 27.75 -32.5%
DCF (Levered) 24.08 -41.4%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 4 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
5.17
Safe zone
Piotroski F-Score
6 / 9
Average
MOAT Score
7 / 10
Strong MOAT
Composite Rating
B
Overall Score
3 / 5
Medium
DCF Score
3 / 5
Medium
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
1 / 5
Low
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Leisure: +7.6%
    +13.5% Q1'26: +12.7% (vs Q1'25)
  • EPS growth Leisure: +13.2%
    +8.5% Q1'26: +11.1% (vs Q1'25)
  • FCF margin FCF growth · Leisure: +30.4%
    +10.6% Q1'26: +15.1% (vs Q1'25)
  • EBIT margin Leisure: +11.0%
    +19.5% Q1'26: +22.0% (vs Q1'25)
  • ROIC Leisure: +6.9%
    +16.4% Q1'26: +20.8% (vs Q1'25)
  • Share dilution Leisure: +0.0%
    0.0% Q1'26: -0.1% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Leisure: -0.39×
    2.22× Q1'26: 1.73× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.25) × ERP
WACC = 88% × Ke + 12% × Kd (5.5%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 27.75 Current price: 41.10
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
4 Rev. Ana.
3 EPS Ana.
Dec 2027
4 Rev. Ana.
3 EPS Ana.
Dec 2028
4 Rev. Ana.
3 EPS Ana.
Dec 2029
3 Rev. Ana.
1 EPS Ana.
Revenue
61.94M
est: 62.37M (-0.7%)
74.10M
est: 72.50M (+2.2%)
109.11M
est: 105.33M (+3.6%)
179.12M
est: 181.97M (-1.6%)
172.41M
est: 172.93M (-0.3%)
150.55M
est: 158.92M (-5.3%)
175.21M
est: 171.23M (+2.3%)
198.90M
est: 200.72M (-0.9%)
221.95M
216.98M – 226.62M
+10.6% YoY
245.64M
237.86M – 251.18M
+10.7% YoY
269.27M
268.19M – 270.35M
+9.6% YoY
297.82M
289.70M – 304.32M
+10.6% YoY
EBITDA
11.48M
est: 15.99M (-28.2%)
15.93M
est: 18.59M (-14.3%)
25.68M
est: 27.01M (-4.9%)
51.81M
est: 46.66M (+11.0%)
44.88M
est: 44.34M (+1.2%)
38.53M
est: 40.67M (-5.3%)
42.26M
est: 43.82M (-3.6%)
46.31M
est: 51.37M (-9.8%)
56.80M
55.53M – 57.99M
+10.6% YoY
62.86M
60.87M – 64.28M
+10.7% YoY
68.91M
68.63M – 69.18M
+9.6% YoY
76.22M
74.14M – 77.88M
+10.6% YoY
EBIT
8.21M
est: 13.66M (-39.9%)
12.82M
est: 15.88M (-19.3%)
21.36M
est: 23.08M (-7.5%)
46.38M
est: 39.87M (+16.3%)
38.80M
est: 37.89M (+2.4%)
32.28M
est: 34.81M (-7.3%)
35.29M
est: 37.51M (-5.9%)
38.87M
est: 43.96M (-11.6%)
48.62M
47.53M – 49.64M
+10.6% YoY
53.80M
52.10M – 55.02M
+10.7% YoY
58.98M
58.74M – 59.22M
+9.6% YoY
65.23M
63.46M – 66.66M
+10.6% YoY
Net Income
6.78M
est: 8.13M (-16.6%)
9.60M
est: 9.60M (0.0%)
15.48M
est: 16.13M (-4.1%)
33.67M
est: 35.39M (-4.9%)
27.08M
est: 29.17M (-7.1%)
23.27M
est: 25.05M (-7.1%)
24.24M
est: 27.55M (-12.0%)
26.44M
est: 27.43M (-3.6%)
32.85M
31.97M – 33.83M
+19.7% YoY
39.17M
36.46M – 41.27M
+19.2% YoY
44.72M
42.41M – 45.10M
+14.2% YoY
48.71M
46.99M – 50.10M
+8.9% YoY
SGA
6.58M
est: 7.40M (-11.2%)
8.80M
est: 8.60M (+2.2%)
12.80M
est: 12.50M (+2.4%)
17.00M
est: 21.59M (-21.3%)
17.96M
est: 20.52M (-12.5%)
19.07M
est: 15.13M (+26.0%)
26.35M
est: 16.30M (+61.6%)
est: 19.11M (-100.0%)
21.13M
20.66M – 21.58M
+10.6% YoY
23.39M
22.65M – 23.92M
+10.7% YoY
25.64M
25.54M – 25.74M
+9.6% YoY
28.36M
27.59M – 28.98M
+10.6% YoY
EPS
0.41
est: 0.43 (-5.1%)
0.51
est: 0.51 (+0.0%)
0.83
est: 0.86 (-3.1%)
1.80
est: 1.88 (-4.3%)
1.45
est: 1.55 (-6.4%)
1.25
est: 1.34 (-6.7%)
1.30
est: 1.47 (-11.5%)
1.41
est: 1.48 (-4.5%)
1.74
1.70 – 1.80
+17.7% YoY
2.05
1.94 – 2.19
+17.8% YoY
2.34
2.25 – 2.40
+14.4% YoY
2.59
2.50 – 2.66
+10.5% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-08 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-05-07 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-05-06 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-05-05 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-05-04 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-30 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-29 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-28 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-27 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-24 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-23 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-22 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-21 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-20 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-17 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5
2026-04-16 B 3/5 3/5 5/5 5/5 1/5 2/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
23.44M
OE per share TTM
1.25
Owner's Yield
3.25%
Maintenance CapEx ratio
6.71%
Maint CapEx / Avg PPE
19.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 44 ETFs in our universe

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
55.8K
Shares Outstanding
18.69M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Anssi Pelkonen Head of Northern Europe Region & Member of Management Board male
Ari Vesterinen Chief Financial Officer, Secretary & Member of Management Board male
David Ahonen Head of Region Asia-Pacific-MEA & Member of Management Board male
Ivan Sabato Head of Region & Continental Europe and Member of Management Board male
Markus Wormanseder Head of Products and Solutions & Member of Management Board male
Matias Jarnefelt Chairman of the Management Board & Chief Executive Officer male
Mika Suoja Head of Operations & Member of Management Board male
Nathan Hagemeier Head of Region North America & Member of the Management Board male
Paivi Juolahti Head of Marketing & Brands and Member of Management Board female
Philipp Krauth MD of EOS, Head of EOS Brands & Products and Member of Management Team male
Timo Harvia Head of Innovation & Technology and Member of the Management Board male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits