Loading…
Finland's largest private healthcare provider, operating clinics and hospitals for general and occupational health.
Finland's largest private healthcare provider, operating clinics and hospitals for general and occupational health.
Earns mainly from employers that buy occupational health care for their staff under recurring contracts, plus fees from private patients, insurers and public bodies that outsource care. Doctors and nurses are the main cost, so appointment capacity and staff availability set how much work it can book. Hospital and surgical work is the smaller add-on.
Moat: narrow (scale, brand, distribution). Largest private healthcare network in Finland gives scale in staffing, procurement and employer contracts.
Headquarters: Helsinki, Finland · Employees: 8,356
Size Terveystalo Oy (TTALO.HE) is a Finland Health Care company (Medical/Nursing Services) with a market value of $883M, the 39th largest of 65 Finland companies the cockpit tracks. Shares closed at €6.23 on 6 Nov 2026.
Performance Over six months the shares fell 19.2%, against +7.8% for the median peer and -2.9% for the Finland market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue fell 8.3% over the last twelve months (peer median +6.9%); the operating margin is 8.3% (peer median 7.2%).
Valuation It trades at 11.1× forward earnings against a peer median of 18.6× (4th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.7 points above its cost of capital (5.0% WACC).
Credit Terveystalo Oy has 1 bond outstanding ($145M).
Next results Next results expected around 12 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.19B | €1.28B | €1.34B | €1.29B | €1.26B |
| Revenue growth | — | -5% | +4% | +2% | — |
| Gross profit | €230M | €270M | €260M | €189M | €168M |
| EBITDA | €200M | €234M | €219M | €175M | €168M |
| Net income | €57.3M | €92.6M | €71.7M | -€42.2M | €24.4M |
| Free cash flow | €102M | €156M | €173M | €114M | €102M |
| Capital expenditure | €54.9M | €51.6M | €39.6M | €41.0M | €59.2M |
| Total debt | €717M | €581M | €570M | €636M | €607M |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Terveystalo Oy TTALO.HE | $883M | -19% | -8% | 8% | 11.1× | -4.6% |
| Attendo ATT.ST | $1.92B | +23% | -1% | 10% | 17.7× | 1.7% |
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.
| Measure | TTALO.HE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.7% | +0.1% | 4th lowest of 21 |
| 6-month return | -19.2% | +7.8% | 2nd lowest of 20 |
| Distance from 52-week high | -40.2% | -21.4% | lowest of 21 |
| Revenue growth (TTM) | -8.3% | +6.9% | 4th lowest of 21 |
| Operating margin | 8.3% | 7.2% | 10th highest of 21 |
| Forward P/E | 11.1× | 18.6× | 4th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -4.6% | 11.9% | 5th least demanding of 17 |
| Growth delivered (Del g) | +5.3% | +12.3% | 4th lowest of 17 |
| Hurdle (Req g minus delivered) | -9.9 pp | -0.3 pp | 7th least demanding of 17 |
| ROIC minus cost of capital | +1.7 pp | -1.0 pp | 10th highest of 20 |
| EV / EBITDA | 7.2× | 11.3× | 5th cheapest of 15 |
| Net debt / EBITDA | 3.2× | 1.7× | 7th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Terveystalo Oy TTALO.HE | Finland | $883M | -19% | -8% | 8% | 11.1× | -4.6% | +5.3% |
| BML 4694.T | Japan | $887M | -2% | +4% | 7% | 18.6× | -9.7% | +1.6% |
| Thyrocare Technologies THYROCARE.NS | India | $830M | +5% | +22% | 26% | 35.2× | 27.9% | +10.9% |
| Jinxin Fertility 1951.HK | Hong Kong | $800M | -2% | +7% | 11% | 24.4× | 18.0% | +12.4% |
| AdaptHealth AHCO | United States | $1.00B | +8% | -3% | 3% | n/a | 16.3% | +25.2% |
| Ginkgo Bioworks DNA | United States | $760M | +26% | -52% | -258% | n/a | n/a | n/a |
| WELL Health Technologies WELL.TO | Canada | $760M | -5% | +39% | 7% | 14.7× | 9.1% | +94.5% |
| HK inno.N 195940.KS | South Korea | $745M | -32% | +7% | 12% | 11.8× | -10.8% | +12.2% |
| Regis Healthcare REG.AX | Australia | $1.05B | -17% | +17% | 4% | 25.1× | 14.6% | +14.4% |
| GMR Solutions GMRS | United States | $672M | n/a | -4% | 14% | 8.0× | -20.0% | -4.0% |
| Novogene 688315.SS | China | $1.16B | +31% | +6% | 7% | 35.7× | 17.1% | +8.2% |
| Fulgent Genetics FLGT | United States | $653M | +49% | +7% | -36% | n/a | n/a | n/a |
| GoodRx GDRX | United States | $1.20B | +20% | -2% | 12% | 10.4× | 6.8% | +7.7% |
| Nephrocare Health Services NEPHROPLUS.NS | India | $639M | +10% | +33% | 14% | 41.9× | 35.7% | +31.6% |
| Nutex Health NUTX | United States | $1.24B | +32% | +7% | 43% | 7.2× | -19.5% | +253.5% |
| Metropolis Healthcare METROPOLIS.NS | India | $1.25B | +12% | +20% | 18% | 45.6× | 32.4% | +10.5% |
| Pennant PNTG | United States | $1.27B | +1% | +38% | 6% | 24.0× | 21.1% | +19.4% |
| Lumexa Imaging LMRI | United States | $1.29B | +29% | +8% | 3% | 18.6× | n/a | n/a |
| OPKO Health OPK | United States | $1.29B | +52% | -11% | -29% | n/a | n/a | n/a |
| Diagnostyka DIA.WA | Poland | $1.29B | -5% | +19% | 15% | 18.4× | 6.9% | +18.9% |
| Shanghai Labway Clinical Laboratory 301060.SZ | China | $593M | -4% | -19% | 6% | n/a | 8.8% | +3.2% |
Terveystalo Oy has 1 bond outstanding with $145M face value.