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Home CompaniesHarvia Oyj

Harvia Oyj

Consumer Cyclical Leisure
PortfolioPortfolio WatchlistWatchlist
Company price
42.5 USD 0.00(0%)
Last update at 2026-11-11T21:00:00Z
VOLUME
1850
Market Cap
970.09M
P/E
29.66

Momentum Score

…

Harvia Oyj designs, manufactures, and markets a range of sauna products worldwide. The company provides sauna heaters and rooms, infrared and steam saunas, steam showers, spa components, Scandinavian hot tubs, control units, heater stones, and sauna accessories; and sauna interior solutions, such as sauna benches, audio speakers, and lighting solutions. It also offers sauna installations, maintenance, and repair services. The company serves residential and professional customers across home wellness, hospitality, and public spa segments primarily under the Harvia, EOS, Almost Heaven Saunas, Kirami, and ThermaSol brands. The company was founded in 1950 and is headquartered in Muurame, Finland.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
42.50
Low
42.60
High
52 Week Price Range
37.55
Low
51.90
High

Momentum Score

…
Loading momentum score…

A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Harvia Oyj makes sauna heaters, stoves, complete sauna rooms and related wellness equipment for residential and commercial customers. Long-term growth could be driven by rising global wellness demand, expansion beyond Nordic markets and product diversification into electric and smart controls. Investors may find the company attractive because it appears positioned as a market leader with recognised brand reach and recurring aftermarket and new-build demand.

Key risks include sensitivity to construction and consumer cycles, competitive pressure, currency and raw-material cost volatility, and supply-chain disruptions.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
42.50
Dividend Yield
1.48%
Revenue TTM
210.74M
Revenue Per Share
11.28
Gross Profit TTM
132.18M
Debt / Equity
0.80
ROE
22.89%
Net Debt
57.73M
ROCE
16.35%
Diluted EPS TTM
1.75

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax 33.18M 31.88M 29.53M 36.79M 45.16M
Minority interest 0.03M 0.00M -0.01M -0.99M -1.11M
Net income 26.44M 24.24M 23.27M 27.08M 33.67M
Selling general administrative 8.18M 7.17M 4.66M 1.25M 1.49M
Selling and marketing expenses 21.30M 19.18M 14.41M 16.71M 15.51M
Gross profit 127.67M 112.60M 94.45M 102.26M 109.01M
Reconciled depreciation 7.45M 6.98M 6.25M 7.45M 5.84M
Ebit 38.87M 35.28M 33.67M 38.80M 46.38M
Ebitda 46.31M 42.26M 38.78M 44.88M 51.81M
Depreciation and amortization 7.45M 6.98M 5.11M 6.08M 5.43M
Operating income 38.30M 35.49M 33.04M 34.68M 46.64M
Other operating expenses 160.60M 139.72M 117.50M 136.78M 132.48M
Interest expense 5.68M 4.42M 3.39M 1.06M 1.17M
Tax provision 6.78M 7.64M 6.25M 8.72M 10.43M
Interest income 1.08M 1.96M 0.53M 0.02M 0.70M
Net interest income -5.12M -3.53M -2.86M -1.90M -1.90M
Income tax expense 6.78M 7.64M 6.25M 8.72M 10.43M
Total revenue 198.90M 175.21M 150.55M 172.41M 179.12M
Total operating expenses 89.37M 77.12M 61.40M 66.63M 62.37M
Cost of revenue 71.23M 62.60M 56.10M 70.15M 70.11M
Total other income expense net -5.12M -3.61M -3.51M 2.11M -1.49M
Net income from continuing ops 26.41M 24.24M 23.28M 28.07M 34.79M
Net income applicable to common shares - - - - 33.67M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 271.28M 264.51M 214.26M 208.80M 201.49M
Intangible assets 19.20M 16.87M 6.88M 10.46M 12.73M
Other current assets 0.76M 0.66M 7.00M 3.28M 4.34M
Total liab 140.74M 140.43M 105.61M 110.45M 117.34M
Total stockholder equity 129.40M 122.84M 107.58M 97.27M 80.55M
Deferred long term liab - - - - 1.01M
Other current liab 15.43M 19.97M 12.33M 10.41M 20.12M
Common stock 0.08M 0.08M 0.08M 0.08M 0.08M
Capital stock 0.08M 0.08M 0.08M 0.08M 0.08M
Retained earnings 99.13M 86.83M 75.08M 63.77M 47.89M
Other liab - - - - 25.75M
Good will 89.25M 91.05M 73.40M 73.44M 73.73M
Other assets - - - - 0.00M
Cash 45.18M 46.45M 40.58M 25.31M 15.49M
Total current liabilities 33.57M 29.24M 24.89M 25.71M 32.41M
Current deferred revenue - - 3.19M 4.24M 16.76M
Net debt 57.73M 57.22M 37.57M 54.53M 43.82M
Short term debt 1.31M 0.96M 0.77M 2.60M 0.61M
Short long term debt 0.00M 0.01M 0.01M 2.03M 0.05M
Short long term debt total 102.91M 103.66M 78.15M 79.84M 59.30M
Other stockholder equity 30.19M 35.94M 32.41M -0.05M 32.59M
Property plant equipment - - - - 30.64M
Total current assets 122.61M 118.50M 99.39M 90.32M 82.18M
Net tangible assets - - - - -4.27M
Short term investments - - -1.87M -3.24M -0.00M
Net receivables 24.59M 22.24M 18.70M 19.68M 20.56M
Long term debt 95.37M 95.40M 75.40M 75.39M 56.38M
Inventory 52.08M 49.15M 35.48M 45.32M 46.13M
Accounts payable 13.67M 13.07M 8.69M 8.74M 5.02M
Accumulated other comprehensive income 30.18M 35.94M 32.41M 33.43M 32.59M
Non currrent assets other -0.00M 0.98M 2.33M 0.00M -0.00M
Non current assets total 148.67M 146.01M 114.87M 118.48M 119.31M
Capital lease obligations 7.53M 8.26M 2.74M 2.42M 2.88M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments - -30.05M -5.83M -3.44M -19.22M
Change to liabilities - - - - 3.72M
Total cashflows from investing activities -14.56M -30.05M -5.83M -3.44M -19.22M
Net borrowings - 20.00M 0.93M 21.00M -0.78M
Total cash from financing activities -20.43M 3.71M -17.59M -11.30M -14.71M
Net income 33.18M 31.88M 29.53M 36.79M 45.22M
Change in cash -1.26M 5.87M 15.27M 9.82M -11.83M
Begin period cash flow 46.45M 40.58M 25.31M 15.49M 27.32M
End period cash flow 45.18M 46.45M 40.58M 25.31M 15.49M
Total cash from operating activities 34.96M 31.67M 39.14M 24.34M 21.82M
Depreciation 7.45M 6.98M 6.25M 7.45M 5.84M
Other cashflows from investing activities 1.41M 0.95M 0.09M 0.05M 0.10M
Dividends paid 14.02M 12.71M 11.96M 11.20M 9.52M
Change to inventory -5.07M -8.74M 10.11M -0.85M -22.57M
Change to account receivables -3.30M -0.59M -1.40M 0.49M -2.05M
Sale purchase of stock - - - -0.31M -2.52M
Other cashflows from financing activities -5.14M -3.58M -4.94M -20.79M -2.04M
Change to netincome - - - - 3.21M
Capital expenditures 14.77M 6.15M 3.12M 3.59M 11.76M
Change in working capital -5.25M -2.92M 8.71M -5.37M -20.91M
Stock based compensation - - 0.99M 0.56M 0.81M
Other non cash items -0.42M -4.27M -6.36M -14.53M -8.34M
Free cash flow 20.19M 25.52M 36.02M 20.75M 10.05M

Peer Comparison*

Sector: Consumer Cyclical Industry: Leisure

Stock Name
Change
(USD)
Price
(USD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
HRVFF
Harvia Oyj		 -
-%		 42.50 29.66 - 4.60 6.32 4.03 18.44
OLCLY
Oriental Land Co Ltd ADR		 -
-%		 23.18 41.39 43.67 0.05 4.46 6.91 20.36
ANPDF
ANTA Sports Products Ltd		 -
-%		 10.20 15.57 14.95 0.39 3.13 2.49 6.99
ANPDY
ANTA Sports Products Ltd ADR		 -
-%		 253.00 15.60 15.06 0.38 3.15 2.49 6.99
OLCLF
Oriental Land Co. Ltd		 -
-%		 22.99 37.74 39.22 0.04 4.01 6.91 20.36

Profile*

Harvia Oyj

Harvia Oyj designs, manufactures, and markets a range of sauna products worldwide. The company provides sauna heaters and rooms, infrared and steam saunas, steam showers, spa components, Scandinavian hot tubs, control units, heater stones, and sauna accessories; and sauna interior solutions, such as sauna benches, audio speakers, and lighting solutions. It also offers sauna installations, maintenance, and repair services. The company serves residential and professional customers across home wellness, hospitality, and public spa segments primarily under the Harvia, EOS, Almost Heaven Saunas, Kirami, and ThermaSol brands. The company was founded in 1950 and is headquartered in Muurame, Finland.

Teollisuustie 1-7, Muurame, Finland, 40950

358 2074 64000

https://harviagroup.com

806

Name Title Year Born
Mr. Matias Jarnefelt Chairman of the Management Board & CEO 1974
Mr. Ari Vesterinen CFO, Secretary & Member of Management Board 1963
Mr. David Ahonen Head of Region Asia-Pacific-MEA & Member of Management Board 1966
Mr. Timo Harvia Head of Innovation & Technology and Member of the Management Board 1978
Mr. Anssi Pelkonen Head of Northern Europe Region & Member of Management Board 1964
Mr. Mika Suoja Head of Operations & Member of Management Board 1975
Ms. Paivi Juolahti M.Sc. Head of Marketing & Brands and Member of Management Board 1976
Mr. Markus Wormanseder Head of Products and Solutions & Member of Management Board 1974
Mr. Philipp Krauth MD of EOS, Head of EOS Brands & Products and Member of Management Team 1967
Mr. Ivan Sabato Head of Region & Continental Europe and Member of Management Board 1989

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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