Who are Mandatum's main competitors?

Named competitors: Sampo Group (SAMPO.HE), Nordea Asset Management (NDA-FI.HE), Evli (EVLI.HE), Aktia Bank (AKTIA.HE). The cockpit's measured peer set (industry) also includes Netwealth (NWL.AX), Sealand Securities (000750.SZ), Quilter (QLT.L), Tikehau Capital SCA (TKO.PA), Acadian Asset Management (AAMI), Artisan Partners Asset Management (APAM).

Is Mandatum expensive compared with its peers?

On forward p/e it trades at 23.7× against a peer median of 17.5×, 6th most expensive of 19 in its peer set.

How has Mandatum stock performed?

Over six months to 6 Nov 2026 the shares returned -9.5% against +2.2% for the median peer; over one year -2.8%.

← CockpitCompetitor Analysis › MANTA.HE Mandatum OyjOpen in the cockpit ↗

Mandatum OyjMANTA.HECompetitor analysis, valuation and peers

Finland · EUR·Financials›Investment Managers

Provides wealth management, life insurance and pension savings products in Finland.

Momentum neutral 48

Competitor Analysis ▸ Charts Open in the cockpit Bonds & Credit

Mkt cap

$3.33B

US dollars, full cap

Free float

92%

of shares outstanding

$/day

$5.39M

20-day average traded

Fwd P/E

23.7×

forward earnings

ROIC−WACC

n/a

WACC 5.2%

Hurdle

n/a

no reverse DCF

Official | Implied

BBB+ / —

agencies · bond market

Next earnings

4 days

10 Nov 2026

Close · EUR€5.90

1D-2.1%

1W-0.4%

1M-0.8%

3M+0.2%

6M-9.5%

YTD-14.3%

1Y-2.8%

ATR %1.6%

52w lowhigh21.0% off high

What Mandatum does

Provides wealth management, life insurance and pension savings products in Finland.

Earns mostly fees on the savings it manages for clients, taken as a share of assets, plus charges on unit-linked policies, whose value follows the funds customers choose. Split off from Sampo in 2023, it is also running down older guaranteed-return policies.

Products and services

Wealth/asset management
Unit-linked life insurance & pensions
Employee benefits/insurance

Customers

Retail and institutional investors
Corporate employee-benefit clients

Where it sits in the supply chain

Financial services
Wealth management & life insurance
Asset management + unit-linked…

What could go right

Growth in Finnish private wealth/pension assets

What could go wrong

Equity market sensitivity of assets under management/fee income
Regulatory changes to pension/insurance products

Moat: narrow (brand, distribution, switching costs). Established Finnish wealth-management brand and distribution network with sticky, long-duration client assets.

Headquarters: Helsinki, Finland · Founded: 2023 · Employees: 632

Named competitors

Sampo Group SAMPO.HE
Nordea Asset Management NDA-FI.HE
Evli EVLI.HE
Aktia Bank AKTIA.HE

Mandatum at a glance

Size Mandatum (MANTA.HE) is a Finland Financials company (Investment Managers) with a market value of $3.33B, the 17th largest of 65 Finland companies the cockpit tracks. Shares closed at €5.90 on 6 Nov 2026.

Performance Over six months the shares fell 9.5%, against +2.2% for the median peer and -2.9% for the Finland market (cap-weighted) — 9th lowest of 21 in its peer set.

Growth Revenue grew 59.8% over the last twelve months (peer median +18.1%); the operating margin is 8.2% (peer median 32.8%).

Valuation It trades at 23.7× forward earnings against a peer median of 17.5× (6th most expensive of 19).

Credit Mandatum has 1 bond outstanding ($334M), rated BBB+ by the agencies.

Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Mandatum against the median of its 20 peers (local-currency closes).

Mandatum financials

Reported figures in EUR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	€2.18B	€1.27B	€1.79B	€1.68B	€519M
Revenue growth	—	-29%	+7%	+223%	—
Net income	€129M	€156M	€165M	€161M	€543M
Free cash flow	€422M	€124M	€69.8M	€275M	-€19.9M
Capital expenditure	€2.40M	€3.10M	€2.30M	€5.50M	€4.20M
Total debt	€404M	€619M	€641M	€353M	€352M

Quarterly statements and history in the cockpit →

Mandatum competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Mandatum is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Mandatum is the large dot.

Mandatum competitors and peer comparison

Head to head with its named competitors (MANTA.HE vs SAMPO.HE vs NDA-FI.HE vs EVLI.HE)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Mandatum MANTA.HE	$3.33B	-10%	+60%	8%	23.7×	n/a
Sampo SAMPO.HE	$29.1B	+10%	+2%	21%	18.0×	n/a
Nordea Bank Abp NDA-FI.HE	$62.3B	+6%	+3%	35%	11.4×	n/a
Evli EVLI.HE	$614M	-7%	+13%	41%	14.6×	n/a
Aktia Bank AKTIA.HE	$963M	+3%	+1%	n/a	10.5×	n/a

How Mandatum compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Mandatum against its 20 peers (data as of 6 Nov 2026)
Measure	MANTA.HE	Peer median	Rank in peer set
1-month return	-0.8%	+0.3%	10th lowest of 21
6-month return	-9.5%	+2.2%	9th lowest of 21
Distance from 52-week high	-21.0%	-16.7%	10th lowest of 21
Revenue growth (TTM)	+59.8%	+18.1%	3rd highest of 20
Operating margin	8.2%	32.8%	4th lowest of 20
Forward P/E	23.7×	17.5×	6th most expensive of 19

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Mandatum MANTA.HE	Finland	$3.33B	-10%	+60%	8%	23.7×	n/a	n/a
Netwealth NWL.AX	Australia	$3.31B	-13%	+21%	46%	34.1×	n/a	n/a
Sealand Securities 000750.SZ	China	$3.30B	-12%	+2%	22%	n/a	n/a	n/a
Quilter QLT.L	United Kingdom	$3.30B	+5%	+191%	3%	15.0×	n/a	n/a
Tikehau Capital SCA TKO.PA	France	$3.24B	-10%	+32%	31%	10.7×	n/a	n/a
Acadian Asset Management AAMI	United States	$3.23B	+33%	+25%	27%	15.4×	n/a	n/a
Artisan Partners Asset Management APAM	United States	$3.17B	+3%	+6%	36%	10.6×	n/a	n/a
AllianceBernstein Holding L.P AB	United States	$3.14B	-13%	n/a	n/a	9.6×	n/a	n/a
Guotai Junan International 1788.HK	Hong Kong	$3.58B	+10%	+43%	65%	n/a	n/a	n/a
First Capital Securities 002797.SZ	China	$3.61B	-24%	-6%	22%	21.1×	n/a	n/a
Nuvama Wealth Management NUVAMA.NS	India	$3.61B	+25%	+13%	29%	26.2×	n/a	n/a
AJ Bell AJB.L	United Kingdom	$3.04B	+13%	+19%	42%	19.2×	n/a	n/a
AMP AMP.AX	Australia	$3.69B	+46%	-5%	-1%	15.7×	n/a	n/a
Eurazeo RF.PA	France	$3.70B	+2%	+18%	-2%	28.7×	n/a	n/a
Sprott SII.TO	Canada	$2.96B	-17%	+88%	38%	25.6×	n/a	n/a
Cohen & Steers CNS	United States	$3.76B	+1%	+13%	33%	20.1×	n/a	n/a
WisdomTree WT	United States	$2.94B	+2%	+45%	40%	15.4×	n/a	n/a
Caida Securities 600906.SS	China	$2.78B	-11%	+10%	36%	19.7×	n/a	n/a
Anand Rathi Wealth ANANDRATHI.NS	India	$4.18B	+31%	+35%	41%	90.5×	n/a	n/a
GCM Grosvenor GCMG	United States	$2.57B	+11%	+8%	28%	12.6×	n/a	n/a
China Cinda Asset Management 1359.HK	Hong Kong	$4.36B	-21%	-25%	53%	11.7×	n/a	n/a

Mandatum bonds and credit

Mandatum has 1 bond outstanding with $334M face value. The agencies rate it BBB+.

Every bond, yield and spread in the cockpit →

Questions

Who are Mandatum's main competitors?: Named competitors: Sampo Group (SAMPO.HE), Nordea Asset Management (NDA-FI.HE), Evli (EVLI.HE), Aktia Bank (AKTIA.HE). The cockpit's measured peer set (industry) also includes Netwealth (NWL.AX), Sealand Securities (000750.SZ), Quilter (QLT.L), Tikehau Capital SCA (TKO.PA), Acadian Asset Management (AAMI), Artisan Partners Asset Management (APAM).
Is Mandatum expensive compared with its peers?: On forward p/e it trades at 23.7× against a peer median of 17.5×, 6th most expensive of 19 in its peer set.
How has Mandatum stock performed?: Over six months to 6 Nov 2026 the shares returned -9.5% against +2.2% for the median peer; over one year -2.8%.