olivLaw · European equity research
EEZY PLC EEZY.HE
Finland · Nasdaq Helsinki · Vertical: Listed companies from Finland
Eezy Plc is a Finnish provider of workforce, recruitment and career development services, operating through its own group and franchise network across Finland. The company could be sensitive to a weaker Finnish economy, since clients tend to cut staffing services in a downturn, and the fiscal 2025 annual report gives no guidance for 2026. The group employs about 20 000 professionals across 36 locations in Finland.
At the close of 05 Nov 2026, EEZY PLC (EEZY.HE) stock was 0.17 EUR (−5.14% on the day), with market capitalisation 4.3 m EUR, dividend yield 6.27%, beta 0.70, 52-week range 0.11–0.83 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 36.1
- weak (30–45)
- Bollinger (20, 2)
- 0.16 – 0.21
- in the lower half of the band · %B 0.15 · band width 26.6%
- SMA 50 / 200
- 0.19 / 0.30
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / -0.01
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −24.2% | +0.4% | −24.6 pp | — |
| 3 months | −5.1% | −3.3% | −1.9 pp | — |
| 6 months | +32.3% | +4.0% | +28.3 pp | — |
| Year to date | −77.9% | +8.1% | −86.0 pp | — |
| 1 year | −78.9% | +10.7% | −89.6 pp | −1.2% |
| 3 years | −91.7% | +50.1% | −141.8 pp | +6.8% |
| 5 years | −97.6% | +43.6% | −141.2 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 219.0 m | 174.1 m | 139.3 m |
| Revenue YoY | unavailable | −20.5% | −19.9% |
| Net income | 645.0 k | -306.0 k | -2.3 m |
| Net income YoY | unavailable | −147.4% | unavailable |
| Diluted EPS | 0.03 | -0.01 | -0.09 |
| Diluted EPS YoY | unavailable | −133.3% | unavailable |
| net % | 0.3% | -0.2% | -1.7% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 4.1 m EUR
- Financial debt
- 46.4 m EUR
- Net debt
- 42.3 m EUR
- Equity
- 106.1 m EUR
- Total assets
- 188.5 m EUR
- Debt / equity
- 0.44x
- Current ratio
- 0.63x
- ROE
- -2.2%
- ROA
- -1.2%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 219.0 m | 174.1 m | 139.3 m | esef· 04 Mar 2026verified |
| Operating income | 4.0 m | 2.3 m | 164.0 k | esef· 04 Mar 2026verified |
| Interest expense | 2.7 m | 3.4 m | 3.8 m | esef· 04 Mar 2026verified |
| Pre-tax income | 1.4 m | -409.0 k | -3.4 m | esef· 04 Mar 2026verified |
| Income tax | 370.0 k | -210.0 k | -1.2 m | esef· 04 Mar 2026verified |
| Net income | 645.0 k | -306.0 k | -2.3 m | esef· 04 Mar 2026verified |
| Diluted EPS | 0.03 | -0.01 | -0.09 | esef· 04 Mar 2026verified |
| Dividend per share | 0.19 | — | 0.01 | esef· 04 Mar 2026derived |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 1.3 m | 1.6 m | 4.1 m | esef· 04 Mar 2026verified |
| Receivables | 29.6 m | 22.1 m | 17.6 m | esef· 04 Mar 2026verified |
| Current assets | 31.1 m | 23.8 m | 21.8 m | esef· 04 Mar 2026verified |
| Goodwill | 141.7 m | 141.7 m | 141.7 m | esef· 04 Mar 2026verified |
| Intangibles (excl. goodwill) | 23.5 m | 22.2 m | 20.0 m | esef· 04 Mar 2026verified |
| Total assets | 206.7 m | 194.8 m | 188.5 m | esef· 04 Mar 2026verified |
| Short-term debt | 2.1 m | 3.6 m | 2.5 m | esef· 04 Mar 2026verified |
| Long-term debt | 48.6 m | 45.0 m | 43.9 m | esef· 04 Mar 2026verified |
| Current liabilities | 39.2 m | 34.6 m | 34.3 m | esef· 04 Mar 2026verified |
| Total liabilities | 96.8 m | 86.2 m | 82.4 m | esef· 04 Mar 2026verified |
| Equity | 109.9 m | 108.6 m | 106.1 m | esef· 04 Mar 2026verified |
| Shares outstanding at year end | 21.5 m | — | 25.8 m | esef· 04 Mar 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 33.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 4.3 m EUR
Key indicators
Coverage and freshness
Score by group
33% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.14 – 0.19 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)0.14 – 0.19 (Mid 0.16)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 0.1% | 17 (vs peers) | 31% |
| Net margin · Quality | -1.7% | 15 (vs peers) | 19% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 0.0x | 0 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 0.6x | 0 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 6.3% | 90 (on a fixed band) | 19% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality16/100 · 2/3 factors with a value
- Returns· partial90/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Eezy Oyj (EEZY.HE). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 139.3 m EUR in 2025; YoY growth -19.9%; net margin -1.7%; ROE -2.2%.
The estimated value range is 0.14–0.19 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.16 EUR, the price of 0.17 EUR leaves a potential of -1.7% (value / price − 1) and a margin of safety of -1.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Shareholder yield (distributions): 6.3%
What contradicts it
- ROIC: 0.1%
- Net margin: -1.7%
- Interest coverage: 0.0x
- Current ratio: 0.6x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Finland · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| FORTUM.HEFortum Oyj | 20.8 bn | 27.2 | 8.7% | 15.3% | −14.0% | +32% / +81% |
| ELISA.HEElisa Oyj | 5.6 bn | 16.3 | 27.0% | 15.2% | +3.0% | −8% / −15% |
| KEMIRA.HEKemira Oyj | 2.5 bn | 13.6 | 10.5% | 6.6% | −6.6% | −17% / +4% |
| KALMAR.HEKalmar Oyj | 2.4 bn | 14.7 | 24.1% | 9.4% | +1.2% | +0% / unavailable |
| KCR.HEKonecranes Oyj | 2.2 bn | 5.6 | 20.3% | 9.5% | −0.9% | −4% / +134% |
| EXEL.HEExel Composites Oyj | 1.8 bn | — | -18.5% | -5.3% | +3.6% | +163% / +74% |
| BITTI.HEBittium Oyj | 1.2 bn | 55.8 | 17.5% | 17.9% | +40.1% | +73% / +603% |
| ALMA.HEAlma Media Oyj | 1.2 bn | 21.2 | 23.0% | 16.9% | +4.6% | +9% / +57% |
| FIA1S.HEFinnair Oyj | 927.4 m | 50.4 | 2.9% | 0.6% | +1.9% | +54% / +22% |
| GRK.HEGRK Infra Oyj | 788.5 m | 18.3 | 27.8% | 4.9% | +19.7% | +52% / unavailable |
| HARVIA.HEHarvia Oyj | 768.7 m | 29.3 | 21.0% | 13.3% | +13.5% | −1% / +64% |
| ATRAV.HEAtria Oyj | 451.7 m | 11.1 | 9.8% | 2.2% | +3.3% | +13% / +57% |
| ANORA.HEAnora Group Oyj | 317.6 m | 57.8 | 1.4% | 0.8% | −4.9% | +26% / +11% |
| CAPMAN.HECapMan Oyj | 300.2 m | 23.1 | 6.8% | 20.9% | +9.4% | −8% / −20% |
| ICP1V.HEIncap Oyj | 261.0 m | 18.7 | 10.4% | 6.5% | −6.7% | −3% / +37% |
| FSECURE.HEF-Secure Oyj | 243.7 m | 10.9 | 43.4% | 15.3% | −0.4% | −17% / −23% |
| ASPO.HEAspo Oyj | 219.4 m | 9.3 | 15.4% | 5.0% | +2.1% | +2% / +9% |
| ETTE.HEEtteplan Oyj | 173.7 m | 16.4 | 8.8% | 2.9% | +0.1% | −27% / −51% |
| DIGIA.HEDigia Oyj | 131.6 m | 10.5 | 14.5% | 5.9% | +5.5% | −16% / −12% |
| ILKKA.HEIlkka Oyj | 93.8 m | 8.1 | 6.2% | 30.8% | +22.6% | +0% / +21% |
| CONSTI.HEConsti Oyj | 77.4 m | 11.6 | 15.3% | 2.0% | +2.9% | −8% / −6% |
| APETIT.HEApetit Oyj | 75.6 m | 8.4 | 8.2% | 5.4% | +3.1% | −14% / −3% |
| ESENSE.HEEnersense International Oyj | 74.9 m | 74.7 | 3.1% | 0.4% | −27.7% | +12% / +9% |
| CTH1V.HEComponenta Oyj | 66.1 m | 324.0 | 0.8% | 0.2% | −4.6% | +49% / +182% |
| KAMUX.HEKamux Oyj | 47.4 m | 10.3 | 4.2% | 0.5% | +0.8% | −40% / −77% |
1- and 3-year price returns: for EEZY.HE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Eezy Plc is a Finnish provider of workforce, recruitment and career development services, operating through its own group and franchise network across Finland. The company could be sensitive to a weaker Finnish economy, since clients tend to cut staffing services in a downturn, and the fiscal 2025 annual report gives no guidance for 2026. The group employs about 20 000 professionals across 36 locations in Finland 1.
SWOT
Strengths
- The company has an extensive network of locations in Finland and a large workforce of professionals, which supports client coverage 1.
- The business is oriented to services across a broad range of sectors, which reduces dependence on any single field 1.
- Governance includes dedicated committees for audit, sustainability and human resources, with formalised control procedures 1.
Weaknesses
- Activity is sensitive to the Finnish economic cycle, and demand reductions in downturns directly hit revenue 1.
- The report gives no guidance for 2026, which limits visibility on future performance 1.
- Investment in technology and harmonisation of operating models are identified as vulnerabilities, with possible inefficiencies 1.
Opportunities
- Digitalising the operating model could bring efficiency and better customer satisfaction, if the investment is made 1.
- Developing training and career services could create additional revenue sources, if expanded 1.
- Commitment to sustainability and diversity could strengthen the company's reputation with clients and candidates 1.
Risks
- Dependence on the Finnish economyhigh
A decline in the Finnish economy could reduce companies' use of staffing services and affect revenue 1.
- Financing conditionsmedium
If revenue and EBITDA fall in a weak market, or if rapid growth ties up working capital, meeting financing terms could become difficult 1.
- Staff motivation and commitmentmedium
The report treats personnel motivation as a material risk in a labour-intensive business 1.
- Technology investmentmedium
Insufficient investment in technological development and the new digital operating model could cause inefficiencies and weaker customer satisfaction 1.
- Supplier dependencelow
Dependence on certain suppliers is identified as an operational risk, with possible service interruptions 1.
Investment thesis
What would need to be true (bull case)
- If the Finnish economy recovers, demand for staffing services could rise, and the wide location network could support higher activity 1.
- Investment in the digital operating model could improve efficiency and customer satisfaction, if implemented well 1.
- The company could benefit from a clearer sustainability profile and pay mechanisms tied to long-term performance 1.
What would break the thesis
- If the Finnish downturn lasts, revenue could fall and meeting financing conditions could become difficult 1.
- The lack of 2026 guidance and the absence of a 2025 dividend could limit investor confidence in the outlook 1.
- If technology investment stays insufficient, the company could lose efficiency and clients to more digitalised competitors 1.
What to watch
- Trend in revenue and EBITDA relative to financing conditions2026
- Effect of the business solutions director's departure on the group's allocation of responsibilitiesQ1 2026
- Progress of investment in the digital operating model2026
- Results of the sustainability and eNPS indicators used in remunerationnext annual report
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Eezy helps client companies and individuals succeed at different stages of their working lives by providing workforce, employment opportunities, training and culture development 1. Operations of the group and its franchise network employ about 20 000 diverse professionals across its services 1. The company has 36 locations in Finland, including franchise offices 1.
The business model is service-based and labour-intensive, and its material impacts relate to its own operations and to entities downstream in the value chain 1. Upstream procurement is described as small relative to total activity and covers training, subcontracted staffing, marketing, administrative services, ICT equipment, premises and vehicles 1.
Eezy's customers sit at the end of the value chain and come from construction, industry, retail, horeca, and health and social services 1. The report identifies a weak Finnish economy as a main business risk, since companies may use fewer staffing services in a downturn 1.
Segments
Workforce and staffing services
The core segment provides personnel to client companies and offers employment services, according to the business description in the annual report 1. Exposure to the Finnish business cycle is high, since demand depends on the activity of clients in the sectors named 1.
Market context
Eezy's main market is Finland, where it operates from 36 locations, and client demand depends on local economic conditions 1. Clients come from construction, industry, retail, horeca and health and social services, and their demand varies with the economic cycle 1.
The annual report does not estimate market size or the company's market share, so its competitive position cannot be quantified from this source 1. Market dynamics for staffing are shaped by Finnish economic trends, a factor the risk section explicitly names 1.
Trends
- Finnish economic cycleheadwind
The report warns that a weak Finnish economy could adversely affect the business, since companies use fewer staffing services in a downturn 1. This is a headwind if client demand declines 1.
- Digitalisation of the operating modelmixed
Investment in technological development and in a new digital operating model is treated as a factor for efficiency and customer satisfaction 1. If such investment is insufficient, inefficiencies and weaker customer satisfaction could follow 1.
- Staff motivation and commitmentmixed
The report names personnel motivation and commitment as a material risk, which bears directly on a labour-intensive business 1. Sustainability-linked pay mechanisms and the eNPS index are used as supporting tools 1.
- Sustainability reporting requirementsmixed
This is the company's second sustainability report, prepared under the double materiality principle, which raises compliance and reporting requirements 1. The process could add administrative cost but also greater transparency for investors 1.
Competitive position
The annual report does not explicitly name Eezy's competitors and offers no analysis of its competitive position in the Finnish staffing market 1. This gap limits a comparative assessment of Eezy against other providers in the same field 1.
Eezy relies on a franchise network and a labour-intensive model, which could shape its cost structure and capacity to expand relative to other players 1. The company's market share cannot be estimated from the source, so comparison remains limited 1.
- Local Finnish staffing providers
The report does not name direct competitors; this reference is general and was not verified from the source.
- Recruitment and temporary staffing agencies
General competitor category, not identified in the report; no ticker verified from the source.
- Vocational training providers
Possible competition in the training and development segment, not explicitly identified in the source.
- Digital recruitment platforms
Possible competition from digital platforms, relevant to the digital operating model described in the report.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202504 Mar 2026
- Annual report 202504 Mar 2026
- Annual report 202424 Sept 2025
- Annual report 202324 Sept 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / EEZY PLC · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.