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Finnish maker of marine engines/propulsion and flexible power-generation systems.
Finnish maker of marine engines/propulsion and flexible power-generation systems.
Sells engines and power plants against orders that take months or years to deliver, then earns recurring revenue from service agreements, spare parts and upgrades over decades. Services carry the steadier part; ship engine orders follow newbuild cycles, and power plant orders are large and uneven.
Moat: narrow (installed base, process know-how, switching costs). Large installed base of marine engines and power plants drives recurring service revenue.
Headquarters: Helsinki, Finland · Founded: 1834 · Employees: 17,879
Size Wartsila Oyj Abp (WRT1V.HE) is a Finland Industrials company (Trucks/Construction/Farm Machinery) with a market value of $17.1B, the 7th largest of 65 Finland companies the cockpit tracks. Shares closed at €25.81 on 6 Nov 2026.
Performance Over six months the shares fell 24.9%, against -10.8% for the median peer and -2.9% for the Finland market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 2.3% over the last twelve months (peer median +9.1%); the operating margin is 13.0% (peer median 13.3%).
Valuation It trades at 23.5× forward earnings against a peer median of 13.2× (6th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 80.5 points above its cost of capital (11.6% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €6.61B | €6.91B | €6.45B | €6.01B | €5.84B |
| Revenue growth | — | +7% | +7% | +3% | — |
| Gross profit | €957M | €1.48B | €1.36B | €1.02B | €687M |
| EBITDA | €1.03B | €950M | €767M | €581M | €449M |
| Net income | €601M | €626M | €503M | €257M | -€65.0M |
| Free cash flow | €1.56B | €1.45B | €1.04B | €673M | -€216M |
| Capital expenditure | €176M | €150M | €170M | €148M | €154M |
| Total debt | €548M | €582M | €766M | €859M | €949M |
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 |
|---|---|---|---|---|---|---|
| Wartsila Oyj Abp WRT1V.HE | $17.1B | -25% | -2% | 13% | 23.5× | 7.2% |
| Rolls-Royce RR..L | $140B | +6% | +19% | 18% | 28.5× | 24.6% |
| Caterpillar CAT | $257B | -38% | +20% | 19% | 18.8× | 18.0% |
| Siemens Energy ENR.DE | $111B | -33% | +9% | 9% | 26.4× | 17.3% |
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 | WRT1V.HE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.3% | -6.5% | 8th lowest of 21 |
| 6-month return | -24.9% | -10.8% | 9th lowest of 21 |
| Distance from 52-week high | -36.7% | -27.5% | 8th lowest of 21 |
| Revenue growth (TTM) | -2.3% | +9.1% | lowest of 21 |
| Operating margin | 13.0% | 13.3% | 9th lowest of 21 |
| Forward P/E | 23.5× | 13.2× | 6th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 7.2% | 5.6% | 9th most demanding of 18 |
| Growth delivered (Del g) | +8.5% | +9.6% | 9th lowest of 18 |
| Hurdle (Req g minus delivered) | -1.3 pp | -2.7 pp | 9th most demanding of 18 |
| ROIC minus cost of capital | +80.5 pp | +5.2 pp | highest of 20 |
| EV / EBITDA | 13.0× | 11.4× | 5th most expensive of 13 |
| Net debt / EBITDA | -1.9× | 1.4× | 2nd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wartsila Oyj Abp WRT1V.HE | Finland | $17.1B | -25% | -2% | 13% | 23.5× | 7.2% | +8.5% |
| Kubota 6326.T | Japan | $18.2B | 0% | +13% | 11% | 10.0× | 7.5% | +10.3% |
| Metso METSO.HE | Finland | $15.8B | +14% | +8% | 15% | 23.6× | 15.3% | +9.6% |
| Hd Hyundai Heavy Industries 329180.KS | South Korea | $20.3B | -62% | +41% | 15% | 9.5× | -7.0% | +16.2% |
| CNH Industrial CNH | United States | $14.3B | +5% | +1% | 13% | 21.1× | 7.4% | -7.0% |
| Doosan Enerbility 034020.KS | South Korea | $21.1B | -65% | +9% | 5% | 82.3× | 22.7% | +13.2% |
| Yangzijiang Shipbuilding (Holdings) BS6.SI | Singapore | $13.5B | +11% | +26% | 32% | 8.2× | -10.1% | +11.8% |
| XCMG Construction Machinery 000425.SZ | China | $12.6B | -28% | +8% | 8% | 11.0× | -3.2% | +6.4% |
| Hdksoe 009540.KS | South Korea | $12.5B | -48% | +23% | 23% | 4.4× | n/a | n/a |
| Sinotruk Hong Kong 3808.HK | Hong Kong | $12.3B | -12% | +38% | 7% | 9.4× | -3.2% | +1.5% |
| Sany Heavy Industry 6031.HK | Hong Kong | $24.2B | -27% | +25% | 11% | 12.9× | -1.1% | -2.9% |
| CRRC 1766.HK | Hong Kong | $26.4B | +4% | +7% | 6% | 9.2× | -2.4% | +3.1% |
| Ashok Leyland ASHOKLEY.NS | India | $10.7B | +1% | +16% | 17% | 24.8× | n/a | n/a |
| Hanwha Ocean 042660.KS | South Korea | $10.7B | -64% | +18% | 13% | 8.7× | -12.4% | +13.2% |
| Epiroc EPI-A.ST | Sweden | $28.6B | -10% | +1% | 19% | 29.3× | 16.5% | +11.4% |
| SamsungHvyInd 010140.KS | South Korea | $10.2B | -50% | +30% | 27% | 13.3× | -20.3% | +11.4% |
| Toro TTC | United States | $9.92B | +10% | +5% | 11% | 21.2× | 5.6% | +6.0% |
| Komatsu 6301.T | Japan | $32.2B | -12% | +9% | 13% | 13.1× | 9.5% | +13.6% |
| Weir WEIR.L | United Kingdom | $8.18B | -3% | +6% | 18% | 18.1× | 19.3% | +5.5% |
| Mazagon Dock Shipbuilders MAZDOCK.NS | India | $7.87B | -31% | +8% | 15% | 30.5× | n/a | n/a |
| AGCO AGCO | United States | $7.61B | -6% | +1% | 6% | 17.1× | 10.5% | +2.0% |