A 
198.60
+1.22%
Close of 9 Nov 2026, in NOK
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At a glance
Figures in NOK, from our data supplier.
Revenue
NOK 31.87bn
FY2016FY2025
Net income
NOK 1.09bn
FY2016FY2025
Free cash flow
NOK 2.74bn
FY2016FY2025
Shareholders' equity
NOK 2.90bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 31.87bn | NOK 30.22bn | NOK 30.16bn | NOK 30.97bn | NOK 27.75bn | NOK 26.94bn | NOK 22.49bn | NOK 18.68bn | NOK 13.64bn | NOK 11.77bn |
| Gross profit | NOK 11.06bn | NOK 9.89bn | NOK 9.25bn | NOK 9.07bn | NOK 8.68bn | NOK 8.19bn | NOK 7.41bn | NOK 6.06bn | NOK 5.13bn | NOK 4.83bn |
| Operating income | NOK 1.67bn | NOK 984.0m | NOK 757.0m | NOK 1.42bn | NOK 1.41bn | NOK 1.31bn | NOK 1.20bn | NOK 892.0m | NOK 775.0m | NOK 1.00bn |
| Net income | NOK 1.09bn | NOK 708.0m | NOK 402.0m | NOK 958.0m | NOK 1.02bn | NOK 971.0m | NOK 854.0m | NOK 772.0m | NOK 621.0m | NOK 691.0m |
| Diluted earnings per share | 9.93 | 6.53 | 3.70 | 8.89 | 9.47 | 9.28 | 8.17 | 7.38 | 5.94 | 6.61 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 17.09bn | NOK 15.00bn | NOK 14.65bn | NOK 14.46bn | NOK 13.11bn | NOK 12.86bn | NOK 12.85bn | NOK 8.49bn | NOK 7.72bn | NOK 6.55bn |
| Cash and short-term investments | — | — | — | — | NOK 634.0m | NOK 665.0m | NOK 563.0m | NOK 656.0m | NOK 1.10bn | NOK 469.0m |
| Total liabilities | NOK 13.14bn | NOK 11.52bn | NOK 11.44bn | NOK 10.96bn | NOK 9.54bn | NOK 9.37bn | NOK 9.86bn | NOK 6.36bn | NOK 5.65bn | NOK 4.60bn |
| Debt | NOK 1.51bn | NOK 1.31bn | NOK 1.34bn | NOK 1.41bn | NOK 999.0m | NOK 1.60bn | NOK 1.84bn | NOK 607.0m | NOK 521.0m | NOK 474.0m |
| Shareholders' equity | NOK 2.90bn | NOK 2.61bn | NOK 2.32bn | NOK 2.58bn | NOK 2.65bn | NOK 2.59bn | NOK 2.19bn | NOK 1.75bn | NOK 1.69bn | NOK 1.68bn |
| Shares outstanding | 110m | 108m | 109m | 108m | 108m | 105m | 105m | 105m | 105m | 105m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NOK 3.04bn | NOK 2.22bn | NOK 659.0m | NOK 1.46bn | NOK 1.42bn | NOK 1.19bn | NOK 1.51bn | NOK 841.0m | NOK 1.35bn | NOK 822.0m |
| Capital spending | −NOK 298.0m | −NOK 255.0m | −NOK 535.0m | −NOK 291.0m | −NOK 207.0m | −NOK 219.0m | −NOK 324.0m | −NOK 324.0m | −NOK 250.0m | −NOK 143.0m |
| Free cash flow | NOK 2.74bn | NOK 1.96bn | NOK 124.0m | NOK 1.17bn | NOK 1.21bn | NOK 970.0m | NOK 1.18bn | NOK 517.0m | NOK 1.10bn | NOK 679.0m |
| Dividends paid | −NOK 986.0m | −NOK 380.0m | −NOK 1.13bn | −NOK 1.13bn | −NOK 1.12bn | −NOK 1.00bn | −NOK 859.0m | −NOK 836.0m | −NOK 829.0m | −NOK 744.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 9.05bn | NOK 7.98bn | NOK 9.25bn | NOK 7.80bn | NOK 7.81bn | NOK 7.13bn | NOK 8.60bn | NOK 7.20bn |
| Gross profit | NOK 3.05bn | NOK 2.82bn | NOK 3.57bn | NOK 2.49bn | NOK 2.58bn | NOK 2.54bn | NOK 3.25bn | NOK 2.50bn |
| Operating income | NOK 526.0m | NOK 307.0m | NOK 600.0m | NOK 357.0m | NOK 320.0m | NOK 205.0m | NOK 585.0m | NOK 279.0m |
| Net income | NOK 338.0m | NOK 203.0m | NOK 423.0m | NOK 258.0m | NOK 272.0m | NOK 139.0m | NOK 374.0m | NOK 201.0m |
| Diluted earnings per share | 2.97 | 1.79 | 3.84 | 2.36 | 2.49 | 1.27 | 3.45 | 1.85 |
| Cash from operations | NOK 221.0m | NOK 347.0m | NOK 1.13bn | NOK 1.00bn | NOK 580.0m | NOK 330.0m | NOK 1.08bn | NOK 348.0m |
| Total assets | NOK 17.68bn | NOK 17.31bn | NOK 17.09bn | NOK 16.92bn | NOK 15.64bn | NOK 15.01bn | NOK 15.00bn | NOK 15.71bn |
| Debt | NOK 40.0m | NOK 41.0m | NOK 37.0m | NOK 86.0m | NOK 87.0m | NOK 97.0m | NOK 96.0m | NOK 121.0m |
| Shareholders' equity | NOK 3.09bn | NOK 3.52bn | NOK 2.90bn | NOK 2.73bn | NOK 2.51bn | NOK 2.77bn | NOK 2.61bn | NOK 2.27bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 34.7% | 32.7% | 30.7% | 29.3% | 31.3% | 30.4% | — |
| Operating margin | 5.2% | 3.3% | 2.5% | 4.6% | 5.1% | 4.9% | — |
| Net margin | 3.4% | 2.3% | 1.3% | 3.1% | 3.7% | 3.6% | — |
| Return on equity | 37.7% | 27.2% | 17.3% | 37.2% | 38.4% | 37.4% | — |
| Return on assets | 6.4% | 4.7% | 2.7% | 6.6% | 7.8% | 7.5% | — |
| Free cash flow yield | — | 11.6% | 5.6% | 8.2% | 7.6% | 6.8% | 8.9% |
| Revenue growth | 5.5% | 0.2% | -2.6% | 11.6% | 3.0% | 19.8% | — |
| Earnings growth | 54.4% | 76.1% | -58.0% | -6.0% | 4.9% | 13.7% | — |
| Current ratio | 0.73x | 0.66x | 0.62x | 0.70x | 0.69x | 0.64x | — |
| Debt to equity | 0.01x | 0.04x | 0.04x | 0.03x | 0.17x | 0.19x | — |
| Equity ratio | 17.0% | 17.4% | 15.9% | 17.8% | 20.2% | 20.2% | — |
| Interest coverage | 26.05x | 8.79x | 7.65x | 33.12x | 38.03x | 24.33x | — |
| Buybacks as a share of market value | — | 0.0% | -0.8% | -0.1% | -2.9% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.0% | 3.4% | 10.0% |
| Operating income | 5.4% | 4.9% | 7.3% |
| Net income | 4.5% | 2.4% | 4.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 33.7% | 31.9% | 31.6% | 32.7% |
| Operating margin | 4.3% | 3.9% | 4.2% | 4.8% |
| Net margin | 2.9% | 2.6% | 2.9% | 3.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.0 | 22.7 | 33.5 | 16.2 | 20.4 | 18.9 | 21.6 | 17.9 | 21.9 | 22.6 |
| Price to sales | 0.7 | 0.5 | 0.5 | 0.5 | 0.8 | 0.7 | 0.8 | 0.7 | 1.0 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 28 years. Last went ex-dividend on 15 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 6.50 | 9.00 | 3.82 | 6.50 | 10.50 | 10.50 | 9.50 | 8.50 |
- 5-for-1 split · 18 Jan 2010
- 4-for-1 split · 23 Jun 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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