Rankings Construction & materials YIT
YIT
58
15070100
A view of the same findings, not a new score. How it works
A good business with a real question mark: the price, a crack, or both.
Biggest deductions
- Margin and ROIC−8
- Multiples vs own history−8
- Debt and interest coverage−5
Strengths
- Order book and data centres+2
- Improved operations+1
How the score is built
From 100 to 58, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 3.63 EUR
- Median analyst target
- 4.30 EUR
- Upside to median
- +18.3%
- Analysts
- 5
- Target range
- 2.70 – 5.00 EUR
- 52-week change
- +23%
- P/E (trailing)
- n/a
- Forward P/E
- 20.7
- PEG
- n/a
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−15 of −30
- −8Margin and ROICOperating margin only 0.2% and net margin −3.8% (TTM, net loss EUR 75m); ROIC 0.2% vs WACC 7.6%. Operating profit has ranged between −64 and +EUR 79m since 2021, and there have been net losses in four of the last five years. Adjusted operating margin was 3.5% in H1 2026.
- −4Quality of growthRevenue has fallen from EUR 2.65bn in 2021 to 1.76bn (TTM). Residential Finland sold only 90 apartments to consumers in Q2 (133 the year before) and gave an adjusted operating loss of EUR 6m (+2m the year before).
- −3Capital allocation and dilutionThe share count rose 9.7% over a year (230.7m shares), and no dividend has been paid since 2022 – shareholders have been diluted without getting anything back.
Price
Today's multiples against the company's own history and its peers. · 2 findings−12 of −35
- −8Multiples vs own historyP/B 1.55 and P/TBV 2.46 vs 0.49–0.91 and 0.70–1.33 in 2021–2025; EV/Sales 0.98 vs 0.49–0.84. The stock is the most expensive in five years on book value, while return on equity is negative (ROE −9.1%).
- −4Absolute price levelNegative earnings yield (−7.1%), EV/EBITDA 82 and forward P/E 34 on a 2026 EPS estimate of EUR 0.06; only the FCF yield of 4.5% speaks for the price.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−12 of −35
- −5Debt and interest coverageInterest-bearing net debt EUR 618m and gearing 91% (84% a year earlier), equity ratio fell to 34% from 37%; interest cover 0.05 and Altman Z 1.31. The debt has been refinanced with new secured green bonds of EUR 150m to 2030.
- −3The housing market in FinlandManagement describes the market as historically weak for the fifth year in a row and does not expect rising sales of new apartments in Finland in 2026.
- −2Fair-value write-downsNegative fair value adjustments on Tripla Mall (−EUR 21m) and OP Vuokrakoti (−EUR 9m) in H1 2026 pulled the IFRS result down to −EUR 61m.
- −2Project risk in large contractsThe data centre for atNorth in Kouvola is a Design and Build general contract of about EUR 300m (about 17% of annual revenue), to be completed by the end of 2027 – a large single risk for a contractor with thin margins.
Plus
Only documented strengths. · 2 findings+3 of +15
- +2Order book and data centresOrder book EUR 3.0bn; data centre demand is 'taking off', infrastructure has grown just under 40% since 2024, and the atNorth contract of approx. EUR 300m goes into the Q3 order book.
- +1Improved operationsAdjusted operating profit in Q2 EUR 19m (14), Residential CEE 14m (3); guidance of EUR 70–100m in adjusted operating profit for 2026.
Caveats
What the score does not capture, or where the data is weak.
The Helsinki listing (YIT). Only 4–5 analysts; forward P/E is based on an adjusted EPS estimate close to zero and is therefore very sensitive. Guidance applies to 'continuing operations', but which activity, if any, has been spun off, and why the share count rose 9.7% in a year, has not been clarified. Housing development makes earnings cyclical-sensitive, but the company is not flagged cyclical (earnings do not primarily follow a price or commodity cycle). Peers (Skanska, NCC, Peab) have not been compared. Q3 report 30 Oct. 2026.
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