Cash flow WithSecure Oyj

Equities

WITH

FI4000519228

Software

Delayed Nasdaq Helsinki Other stock markets 03:13:58 2026-02-13 am EST			5-day change	1st Jan Change
1.718 ^EUR	0.00%		+0.12%	+0.35%

Jan. 21	WithSecure Names New CFO	MT
Jan. 20	WithSecure Xavier Carpentier appointed as CFO	RE

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Published financial data: WITHSECURE OYJ

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	220M	236M	135M	143M	116M
Total Revenues	220M	236M	135M	143M	116M
Cost of Goods Sold, Total	48M	50.55M	46.97M	42.62M	23.42M
Gross Profit	172M	186M	87.73M	100M	92.59M
Selling General & Admin Expenses, Total	113M	123M	102M	90.07M	63.73M
R&D Expenses	41.89M	46.6M	39.14M	47.25M	40.09M
Other Operating Expenses	-2.17M	-2.39M	-11.05M	-8.36M	-1.66M
Other Operating Expenses, Total	152M	167M	130M	129M	102M
Operating Income	19.74M	18.32M	-42.02M	-28.76M	-9.57M
Interest Expense, Total	-860K	-730K	-615K	-706K	-916K
Interest And Investment Income	-	11K	257K	1.47M	845K
Net Interest Expenses	-860K	-719K	-358K	768K	-71K
Currency Exchange Gains (Loss)	-2.04M	784K	-818K	-338K	133K
Other Non Operating Income (Expenses)	-319K	-343K	-443K	-224K	-279K
EBT, Excl. Unusual Items	16.51M	18.05M	-43.64M	-28.56M	-9.79M
Restructuring Charges	-	-	-	-8.9M	-1.1M
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-6.2M	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-58K	398K	1.27M	1.37M	1.59M
Asset Writedown	-	-1.02M	-	-	-
Other Unusual Items	-	-	-1.8M	-1.4M	-1M
EBT, Incl. Unusual Items	16.46M	17.43M	-44.17M	-43.68M	-10.3M
Income Tax Expense	3.58M	4.73M	-5.96M	-3.66M	-1.12M
Earnings From Continuing Operations	12.88M	12.7M	-38.21M	-40.03M	-9.18M
Earnings Of Discontinued Operations	-	-	469M	-	-28.8M
Net Income to Company	12.88M	12.7M	430M	-40.03M	-37.98M
Net Income - (IS)	12.88M	12.7M	430M	-40.03M	-37.98M
Net Income to Common Incl Extra Items	12.88M	12.7M	430M	-40.03M	-37.98M
Net Income to Common Excl. Extra Items	12.88M	12.7M	-38.21M	-40.03M	-9.18M
Per Share Items
Net EPS - Basic	0.08	0.08	2.51	-0.23	-0.22
Basic EPS - Continuing Operations	0.08	0.08	-0.22	-0.23	-0.05
Basic Weighted Average Shares Outstanding	158M	158M	171M	176M	176M
Net EPS - Diluted	0.08	0.08	2.51	-0.23	-0.22
Diluted EPS - Continuing Operations	0.08	0.08	-0.22	-0.23	-0.05
Diluted Weighted Average Shares Outstanding	158M	158M	171M	176M	176M
Normalized Basic EPS	0.07	0.07	-0.16	-0.1	-0.03
Normalized Diluted EPS	0.07	0.07	-0.16	-0.1	-0.03
Dividend Per Share	0.04	-	-	-	-
Payout Ratio	-	49.86	-	-	-
Supplemental Items
EBITDA	23.97M	21.63M	-39.03M	-26.3M	21.97M
EBITA	21.68M	19.69M	-40.74M	-27.46M	-8.53M
EBIT	19.74M	18.32M	-42.02M	-28.76M	-9.57M
EBITDAR	24.18M	21.81M	-38.5M	-26.2M	22.06M
Effective Tax Rate - (Ratio)	21.76	27.12	13.5	8.37	10.92
Total Current Taxes	5.64M	4.25M	-2.5M	928K	1.17M
Total Deferred Taxes	-2.06M	477K	-3.46M	-4.58M	-2.3M
Normalized Net Income	10.32M	11.28M	-27.28M	-17.85M	-6.12M
Interest on Long-Term Debt	324K	279K	279K	392K	624K
Supplemental Operating Expense Items
Selling and Marketing Expenses	95.62M	99.22M	83.12M	72.19M	51.77M
General and Administrative Expenses	17.12M	23.97M	18.54M	17.88M	11.95M
Research And Development Expense From Footnotes	41.89M	46.6M	39.14M	47.25M	40.09M
Net Rental Expense, Total	205K	180K	529K	104K	93K
Imputed Operating Lease Interest Expense	34.74K	30.8K	125K	43.6K	33.71K
Imputed Operating Lease Depreciation	170K	149K	404K	60.4K	59.29K
Stock-Based Comp., Other (Total)	801K	2.67M	2.84M	3.33M	2.51M
Total Stock-Based Compensation	801K	2.67M	2.84M	3.33M	2.51M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	51.38M	52.94M	55.13M	36.6M	27.28M
Short Term Investments	-	-	13.98M	-	-
Trading Asset Securities, Total	61K	61K	26K	26K	26K
Total Cash And Short Term Investments	51.44M	53M	69.13M	36.63M	27.3M
Accounts Receivable, Total	47.46M	38.27M	26.36M	31.68M	18.62M
Other Receivables	4.27M	8.7M	7.65M	6.78M	2.51M
Notes Receivable	-	-	2.22M	2.07M	6.64M
Total Receivables	51.73M	46.97M	36.23M	40.53M	27.78M
Inventory	74K	51K	-	-	-
Prepaid Expenses	-	9.34M	7.3M	-	5.23M
Other Current Assets, Total	-1K	-1K	2K	-	30.49M
Total Current Assets	103M	109M	113M	77.16M	90.8M
Gross Property Plant And Equipment	41.41M	-	-	-	-
Accumulated Depreciation	-27.34M	-	-	-	-
Net Property Plant And Equipment	14.06M	12.71M	10.75M	13.03M	24M
Goodwill	81.94M	85.14M	83M	78.06M	35.85M
Other Intangibles, Total	26.52M	33.03M	23.52M	20.55M	16.77M
Loans Receivable Long-Term	-	-	7.86M	6.06M	4.19M
Deferred Tax Assets Long-Term	3.95M	4.12M	6.77M	10.68M	12.12M
Other Long-Term Assets, Total	8.08M	1.86M	1.27M	1.87M	1.1M
Total Assets	238M	246M	246M	207M	185M
Liabilities
Accounts Payable, Total	4.18M	5.98M	4.41M	3.38M	3.51M
Accrued Expenses, Total	12.59M	17.14M	9.91M	12.3M	6.69M
Current Portion of Long-Term Debt	11M	6M	-	35K	3.76M
Current Portion of Leases	4.94M	4.82M	4.84M	5.33M	2.29M
Current Income Taxes Payable	5.66M	4.18M	2.13M	620K	407K
Unearned Revenue Current, Total	57.23M	60.08M	46.45M	46.12M	43.7M
Other Current Liabilities	9.32M	6.88M	5.55M	5.84M	14.54M
Total Current Liabilities	105M	105M	73.28M	73.63M	74.9M
Long-Term Debt	19M	13M	3.6M	3.52M	-
Long-Term Leases	4.93M	4.58M	4.77M	4.85M	20.65M
Unearned Revenue Non Current	23.79M	25.99M	22.15M	20.77M	18.48M
Deferred Tax Liability Non Current	1.29M	1.88M	1.62M	1.27M	1.28M
Other Non Current Liabilities	1.55M	347K	314K	386K	275K
Total Liabilities	155M	151M	106M	104M	116M
Common Stock, Total	1.55M	1.55M	80K	80K	80K
Additional Paid In Capital	165K	165K	-	-	-
Retained Earnings	79.55M	87.83M	58.65M	20.22M	-15.58M
Treasury Stock	-1.29M	-849K	-155K	-155K	-155K
Comprehensive Income and Other	2.35M	6.66M	81.52M	82.83M	84.88M
Total Common Equity	82.33M	95.36M	140M	103M	69.23M
Total Equity	82.33M	95.36M	140M	103M	69.23M
Total Liabilities And Equity	238M	246M	246M	207M	185M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	158M	158M	175M	176M	176M
ECS Total Common Shares Outstanding	158M	158M	175M	176M	176M
Book Value / Share	0.52	0.6	0.8	0.59	0.39
Tangible Book Value	-26.13M	-22.81M	33.57M	4.37M	16.62M
Tangible Book Value Per Share	-0.17	-0.14	0.19	0.02	0.09
Total Debt	39.87M	28.4M	13.21M	13.74M	26.7M
Net Debt	-11.58M	-24.6M	-55.92M	-22.89M	-606K
Debt Equivalent Oper. Leases	1.64M	1.44M	4.23M	832K	744K
Account Code - Inventory Valuation	5	5	5	3	3
Inventories - Others	-	-	-	-	-
Machinery, Total	15.76M	-	-	-	-
Full Time Employees	1.68K	1.66K	1.3K	1.09K	961
Accumulated Allowance for Doubtful Accounts (Supple)	-	2.06M	1.57M	-	948K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	12.88M	12.7M	430M	-40.03M	-37.98M
Depreciation & Amortization - CF	8.82M	7.96M	6.95M	6.43M	34.77M
Amortization of Goodwill and Intangible Assets - (CF)	1.94M	1.37M	1.29M	1.3M	1.04M
Depreciation & Amortization, Total	10.77M	9.33M	8.23M	7.74M	35.81M
Amortization of Deferred Charges, Total - (CF)	4.99M	4.72M	4.79M	4.89M	4.82M
(Gain) Loss From Sale Of Asset	58K	142K	2.7M	-14K	-134K
Asset Writedown & Restructuring Costs	260K	1.02M	-	6.2M	-
Net Cash From Discontinued Operations	-	-	-	-	-28.8M
Other Operating Activities, Total	6.96M	-426K	-455M	-6.84M	26.92M
Change In Accounts Receivable	6.16M	-4.14M	-8.94M	4.64M	1.92M
Change In Inventories	33K	23K	6K	-	-
Change in Other Net Operating Assets	4.57M	7.37M	-2.23M	348K	-1.93M
Cash from Operations	46.68M	30.74M	-20.24M	-23.06M	613K
Capital Expenditure	-8.14M	-6.57M	-4.77M	-5.16M	-5.93M
Sale of Property, Plant, and Equipment	238K	433K	-	-	-
Cash Acquisitions	-3.68M	-	-	-	-
Divestitures	-	-	-734K	1.58M	2.35M
Investment in Marketable and Equity Securities, Total	6K	-	-13.98M	14.85M	-
Other Investing Activities, Total	1K	1K	-	-	-
Cash from Investing	-11.58M	-6.14M	-19.48M	11.28M	-3.58M
Long-Term Debt Issued, Total	10M	-	-	-	-
Total Debt Issued	10M	-	-	-	-
Long-Term Debt Repaid, Total	-18.25M	-16.96M	-24.99M	-6.14M	-6.44M
Total Debt Repaid	-18.25M	-16.96M	-24.99M	-6.14M	-6.44M
Issuance of Common Stock	-	-	75.99M	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-	-6.33M	-	-	-
Common & Preferred Stock Dividends Paid	-	-6.33M	-	-	-
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-	-1K	-	-	-
Cash from Financing	-8.25M	-23.3M	51M	-6.14M	-6.44M
Foreign Exchange Rate Adjustments	-902K	252K	-129K	-604K	83K
Miscellaneous Cash Flow Adjustments	-	-	-8.95M	1K	-
Net Change in Cash	25.95M	1.56M	2.19M	-18.52M	-9.33M
Supplemental Items
Cash Interest Paid	536K	451K	225K	314K	295K
Cash Income Tax Paid (Refund)	70K	6.65M	3.63M	2.38M	347K
Levered Free Cash Flow	30.22M	21.87M	-28.54M	-4.81M	8.28M
Unlevered Free Cash Flow	30.76M	22.33M	-28.16M	-4.37M	8.85M
Change In Net Working Capital	-10M	-725K	12.98M	-2.82M	22.37M
Net Debt Issued / Repaid	-8.25M	-16.96M	-24.99M	-6.14M	-6.44M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	5.28	4.73	-10.68	-7.93	-3.05
Return on Total Capital	10.29	9.31	-18.96	-13.32	-5.63
Return On Equity %	16.25	14.3	-32.46	-32.94	-10.66
Return on Common Equity	16.25	14.3	-32.46	-32.94	-10.66
Margin Analysis
Gross Profit Margin %	78.2	78.6	65.13	70.16	79.81
SG&A Margin	51.2	52.14	75.47	63.07	54.94
EBITDA Margin %	10.89	9.15	-28.98	-18.42	18.94
EBITA Margin %	9.85	8.34	-30.24	-19.23	-7.35
EBIT Margin %	8.96	7.76	-31.2	-20.14	-8.25
Income From Continuing Operations Margin %	5.85	5.38	-28.37	-28.03	-7.91
Net Income Margin %	5.85	5.38	319.46	-28.03	-32.74
Net Avail. For Common Margin %	5.85	5.38	-28.37	-28.03	-7.91
Normalized Net Income Margin	4.69	4.77	-20.25	-12.5	-5.27
Levered Free Cash Flow Margin	13.72	9.26	-21.19	-3.37	7.14
Unlevered Free Cash Flow Margin	13.97	9.45	-20.9	-3.06	7.63
Asset Turnover
Asset Turnover	0.94	0.98	0.55	0.63	0.59
Fixed Assets Turnover	14.85	17.65	11.48	12.01	6.27
Receivables Turnover (Average Receivables)	4.8	6.19	4.17	4.29	5.29
Inventory Turnover (Average Inventory)	530.34	808.82	-	-	-
Short Term Liquidity
Current Ratio	0.98	1.04	1.54	1.05	1.21
Quick Ratio	0.98	0.95	1.41	1.02	0.65
Operating Cash Flow to Current Liabilities	0.44	0.29	-0.28	-0.31	0.01
Days Sales Outstanding (Average Receivables)	76.19	58.98	87.56	85.05	69.19
Days Outstanding Inventory (Average Inventory)	0.69	0.45	-	-	-
Average Days Payable Outstanding	31.69	36.69	-	33.34	53.78
Cash Conversion Cycle (Average Days)	45.19	22.75	-	-	-
Long Term Solvency
Total Debt/Equity	48.42	29.78	9.43	13.34	38.56
Total Debt / Total Capital	32.62	22.95	8.62	11.77	27.83
LT Debt/Equity	29.06	18.43	5.97	8.13	29.83
Long-Term Debt / Total Capital	19.58	14.2	5.46	7.17	21.53
Total Liabilities / Total Assets	65.38	61.27	43.01	50.35	62.54
EBIT / Interest Expense	22.95	25.1	-68.33	-40.74	-10.45
EBITDA / Interest Expense	35.47	37.88	-54.94	-29.79	28.64
(EBITDA - Capex) / Interest Expense	26.01	28.88	-62.7	-37.09	22.17
Total Debt / EBITDA	1.31	1.03	-0.39	-0.65	1.02
Net Debt / EBITDA	-0.38	-0.89	1.65	1.09	-0.02
Total Debt / (EBITDA - Capex)	1.78	1.35	-0.34	-0.52	1.31
Net Debt / (EBITDA - Capex)	-0.52	-1.17	1.45	0.87	-0.03
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.32	7.29	3.6	6.02	5.51
Gross Profit, 1 Yr. Growth %	3.25	7.84	-0.92	14.21	6.63
EBITDA, 1 Yr. Growth %	116.37	-9.76	48.45	-32.62	-292.26
EBITA, 1 Yr. Growth %	150.93	-9.18	44.3	-32.58	-55.72
EBIT, 1 Yr. Growth %	251.15	-7.16	41.98	-31.55	-53.45
Earnings From Cont. Operations, 1 Yr. Growth %	282.62	-1.34	50.01	4.76	-71.45
Net Income, 1 Yr. Growth %	282.62	-1.34	3.29K	-109.3	-5.12
Normalized Net Income, 1 Yr. Growth %	357.7	9.28	45.74	-34.56	-51.18
Diluted EPS Before Extra, 1 Yr. Growth %	300.02	0	38.68	3.11	-71.52
Accounts Receivable, 1 Yr. Growth %	7.33	0.49	-31.14	-9.15	-26.21
Inventory, 1 Yr. Growth %	-30.84	-31.08	-	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	-9.81	-9.61	-15.44	21.24	84.15
Total Assets, 1 Yr. Growth %	3.68	3.55	-0.17	-15.63	-10.9
Tangible Book Value, 1 Yr. Growth %	-39.48	-12.69	-247.16	-86.98	280.3
Common Equity, 1 Yr. Growth %	8.1	15.83	46.9	-26.49	-32.77
Cash From Operations, 1 Yr. Growth %	152.46	-34.15	-165.85	13.93	-102.66
Capital Expenditures, 1 Yr. Growth %	-5.73	-19.29	-27.39	8.16	14.93
Levered Free Cash Flow, 1 Yr. Growth %	76.77	-27.62	254.26	-83.15	26.02
Unlevered Free Cash Flow, 1 Yr. Growth %	73.72	-27.4	269.43	-84.49	27.26
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	7.45	4.26	-21.79	4.81	-7.2
Gross Profit, 2 Yr. CAGR %	6.66	5.52	-28.63	6.38	2.73
EBITDA, 2 Yr. CAGR %	39.51	39.73	27.61	0.02	-24.98
EBITA, 2 Yr. CAGR %	43.88	50.96	37.07	-1.37	-54.24
EBIT, 2 Yr. CAGR %	56.11	80.56	45.91	-1.42	-52.27
Earnings From Cont. Operations, 2 Yr. CAGR %	290.57	94.29	72.27	25.36	-51
Net Income, 2 Yr. CAGR %	290.57	94.29	478.12	77.64	-70.29
Normalized Net Income, 2 Yr. CAGR %	61.13	123.65	62.57	-2.34	-52.64
Diluted EPS Before Extra, 2 Yr. CAGR %	286.05	100	66.98	19.58	-51.66
Accounts Receivable, 2 Yr. CAGR %	-7.39	-6.97	-16.82	-9.02	-26.93
Inventory, 2 Yr. CAGR %	-65.08	-30.96	-	-	-
Net Property, Plant and Equip., 2 Yr. CAGR %	64.85	-9.71	-12.58	1.25	49.42
Total Assets, 2 Yr. CAGR %	2.12	3.61	1.67	-8.22	-13.29
Tangible Book Value, 2 Yr. CAGR %	-34.35	-27.31	13.35	-56.23	-29.64
Common Equity, 2 Yr. CAGR %	11.45	11.9	30.44	3.92	-29.7
Cash From Operations, 2 Yr. CAGR %	162.51	28.94	-34.15	-13.38	-82.6
Capital Expenditures, 2 Yr. CAGR %	4.49	-12.77	-23.44	-11.38	11.49
Levered Free Cash Flow, 2 Yr. CAGR %	759.36	13.11	-2.82	-22.74	-46.14
Unlevered Free Cash Flow, 2 Yr. CAGR %	598.82	12.3	-4.33	-24.3	-43.93
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	9.06	7.4	-14.74	-13.44	-3.73
Gross Profit, 3 Yr. CAGR %	5.96	7.05	-19.28	-16.52	1.5
EBITDA, 3 Yr. CAGR %	16.88	20.65	52.17	3.14	-5.81
EBITA, 3 Yr. CAGR %	17.04	23.42	67.68	8.2	-32.9
EBIT, 3 Yr. CAGR %	18.21	31.28	95.54	13.38	-31.36
Earnings From Cont. Operations, 3 Yr. CAGR %	5.19	146.9	124.77	45.95	-28.85
Net Income, 3 Yr. CAGR %	5.19	146.9	403.81	45.95	44.13
Normalized Net Income, 3 Yr. CAGR %	11.52	41.57	129.55	20.03	-31.11
Diluted EPS Before Extra, 3 Yr. CAGR %	4.55	146.09	123.43	42.19	-31.31
Accounts Receivable, 3 Yr. CAGR %	4.69	-11.56	-15.85	-5.95	-21.35
Inventory, 3 Yr. CAGR %	-49.89	-56.2	-	-	-
Net Property, Plant and Equip., 3 Yr. CAGR %	63.6	34.93	-11.66	-2.51	23.59
Total Assets, 3 Yr. CAGR %	10.73	2.59	2.34	-4.46	-9.12
Tangible Book Value, 3 Yr. CAGR %	-18.28	-27.81	-8.05	-44.91	-10.02
Common Equity, 3 Yr. CAGR %	5.27	12.89	22.53	7.75	-10.12
Cash From Operations, 3 Yr. CAGR %	21.48	65.56	3.07	-20.95	-72.88
Capital Expenditures, 3 Yr. CAGR %	4.63	-4.13	-17.95	-14.1	-3.36
Levered Free Cash Flow, 3 Yr. CAGR %	40.46	276.69	18.63	-45.81	0.92
Unlevered Free Cash Flow, 3 Yr. CAGR %	41.09	228.51	16.72	-47.83	5.12
Dividend Per Share, 3 Yr. CAGR %	0	-	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	8.33	8.34	-4.52	-5.62	-11.8
Gross Profit, 5 Yr. CAGR %	3.93	4.02	-9.53	-7.92	-11.11
EBITDA, 5 Yr. CAGR %	-1.84	-0.87	21.06	16.39	14.68
EBITA, 5 Yr. CAGR %	0.25	-0.88	24.67	21.26	-0.26
EBIT, 5 Yr. CAGR %	-0.29	-0.96	28.6	28.85	11.24
Earnings From Cont. Operations, 5 Yr. CAGR %	1.3	-4.18	28.13	116.38	22.21
Net Income, 5 Yr. CAGR %	-10.2	-3.58	107.96	116.38	62.37
Normalized Net Income, 5 Yr. CAGR %	-3.25	-2.23	29.66	35.03	22.1
Diluted EPS Before Extra, 5 Yr. CAGR %	0.64	-4.36	26.09	112.02	21.12
Accounts Receivable, 5 Yr. CAGR %	10.21	1.01	-8.62	-10.55	-15.88
Inventory, 5 Yr. CAGR %	-11.2	-14.09	-	-	-
Net Property, Plant and Equip., 5 Yr. CAGR %	32.78	30.71	27.33	20.29	9.01
Total Assets, 5 Yr. CAGR %	7.18	7.94	7.01	-1.88	-4.23
Tangible Book Value, 5 Yr. CAGR %	-15.41	-17.3	-6.85	-40.9	-17.38
Common Equity, 5 Yr. CAGR %	1.33	4.67	14.69	9.21	-1.89
Cash From Operations, 5 Yr. CAGR %	10.07	7.03	-4.91	27.77	-49.41
Capital Expenditures, 5 Yr. CAGR %	12.05	-0.95	-7.66	-7.1	-7.24
Levered Free Cash Flow, 5 Yr. CAGR %	-0.46	9.1	21.21	63.68	-13.5
Unlevered Free Cash Flow, 5 Yr. CAGR %	-0.51	9.55	20.79	47.3	-12.95
Dividend Per Share, 5 Yr. CAGR %	-7.79	-	-	-	-