Gofore Oyj

GOFORE.HE

Information Technology Services · Technology

Exchange

NASDAQ Helsinki

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Strong

Stability

Strong

Valuation

Strong

Dividends

Exceptional

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Winston Score History

The full picture

Gofore is a Finnish IT consulting company that helps organizations design and build digital services. Its consultants work on software development, cloud solutions, and digital transformation projects, primarily for public sector clients like government agencies, as well as private companies across various industries. It is one of Finland's leading digital transformation consultancies.

Gofore earns revenue by billing for consultant hours and project-based work. The company operates mainly in Finland with a growing presence in other European markets, and has a market cap around €200 million. Its strong reputation with Finnish public sector clients provides a steady base of recurring project work. Key growth drivers include increasing demand for government digitalization and expansion into new geographies, though the business faces risks from consultant utilization rates and competition for skilled IT talent in the Nordics.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+32.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+283.3% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

39.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

€29M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Gofore Oyj grew revenue 32% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

14.6%

Thin — 14.6% gross margin

Profit after running costs

Operating Margin

4.9%

Thin — 4.9% operating margin

Return on the money invested

ROCE

13.5%

Good — 13.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+22.0%

Fast-growing sales (+22.0% YoY)

Profit growth

EPS YoY

+17.1%

Earnings growing fast (+17.1% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

197%

Turns 197% of profit into real cash

Spare cash per sale

FCF Margin

9.6%

Modest free cash flow (9.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.36

Conservative — low debt load (0.36)

Covers its interest

Interest Cover

10.08x

Comfortably covers interest (10.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

17.3x

no trend

Fair value — P/E 17.3

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+6.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (17.3 → 10.6)

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Dividends

Dividend

Dividend Yield

4.25%

no trend

Healthy income — 4.25% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+95.6%

no trend

Dividend growing fast (95.6% YoY)

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