B 
24.20
+2.11%
Close of 9 Nov 2026, in NOK
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At a glance
Figures in NOK, from our data supplier.
Revenue, before interest expense
NOK 3.69bn
FY2016FY2025
Net income
NOK 622.0m
FY2016FY2025
Total assets
NOK 17.66bn
FY2016FY2025
Shareholders' equity
NOK 5.71bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | NOK 3.69bn | NOK 3.48bn | NOK 3.51bn | NOK 3.05bn | NOK 3.01bn | NOK 3.04bn | NOK 2.79bn | NOK 2.86bn | NOK 2.01bn | NOK 1.40bn |
| Operating income | NOK 1.73bn | NOK 358.0m | NOK 468.0m | NOK 421.0m | NOK 742.0m | NOK 411.0m | NOK 165.0m | NOK 1.33bn | NOK 914.1m | NOK 515.6m |
| Net income | NOK 622.0m | NOK 277.0m | NOK 363.0m | NOK 326.0m | NOK 573.0m | NOK 309.0m | NOK 107.0m | NOK 648.6m | NOK 481.7m | NOK 181.6m |
| Diluted earnings per share | 1.68 | 0.77 | 0.95 | 0.79 | 1.39 | 0.75 | 0.26 | 1.60 | 1.28 | 0.52 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 17.66bn | NOK 16.89bn | NOK 17.33bn | NOK 16.50bn | NOK 15.31bn | NOK 17.17bn | NOK 16.94bn | NOK 16.17bn | NOK 10.80bn | NOK 6.15bn |
| Cash and short-term investments | — | NOK 516.0m | NOK 1.40bn | NOK 1.17bn | NOK 372.0m | NOK 413.0m | NOK 340.0m | NOK 397.7m | NOK 452.0m | NOK 217.6m |
| Total liabilities | NOK 11.95bn | NOK 11.27bn | NOK 11.74bn | NOK 11.28bn | NOK 10.32bn | NOK 12.45bn | NOK 12.71bn | NOK 11.82bn | NOK 7.65bn | NOK 3.72bn |
| Debt | — | NOK 9.96bn | NOK 10.62bn | NOK 10.37bn | NOK 9.56bn | NOK 11.62bn | NOK 11.88bn | NOK 10.83bn | NOK 6.85bn | NOK 3.22bn |
| Shareholders' equity | NOK 5.71bn | NOK 5.62bn | NOK 5.59bn | NOK 5.22bn | NOK 4.99bn | NOK 4.72bn | NOK 4.24bn | NOK 4.35bn | NOK 3.15bn | NOK 2.43bn |
| Shares outstanding | 370m | 360m | 381m | 413m | 411m | 410m | 410m | 407m | 378m | 349m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | NOK 654.0m | NOK 572.0m | NOK 889.0m | NOK 820.0m | NOK 835.0m | NOK 729.0m | NOK 678.0m | NOK 730.0m |
| Operating income | — | — | NOK 389.0m | NOK 177.0m | NOK 266.0m | NOK 166.0m | NOK 23.0m | −NOK 95.0m |
| Net income | NOK 232.0m | NOK 170.0m | NOK 149.0m | NOK 137.0m | NOK 206.0m | NOK 128.0m | NOK 18.0m | −NOK 74.0m |
| Diluted earnings per share | 0.63 | 0.46 | 0.40 | 0.37 | 0.56 | 0.35 | 0.05 | -0.21 |
| Total assets | NOK 17.44bn | NOK 17.01bn | NOK 17.66bn | NOK 16.54bn | NOK 17.07bn | NOK 17.14bn | NOK 16.89bn | NOK 16.51bn |
| Cash and short-term investments | — | — | NOK 1.39bn | NOK 375.0m | NOK 469.0m | NOK 784.0m | NOK 510.0m | NOK 651.0m |
| Debt | — | — | NOK 10.31bn | NOK 9.71bn | NOK 10.23bn | NOK 9.83bn | NOK 9.80bn | NOK 9.33bn |
| Shareholders' equity | NOK 5.06bn | NOK 5.59bn | NOK 5.71bn | NOK 5.56bn | NOK 5.46bn | NOK 5.69bn | NOK 5.62bn | NOK 5.79bn |
Financial ratios
Data as of 7 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 46.9% | 10.3% | 13.3% | 13.8% | 24.7% | 13.5% | — |
| Net margin | 16.8% | 8.0% | 10.3% | 10.7% | 19.1% | 10.2% | — |
| Return on equity | 10.9% | 4.9% | 6.5% | 6.3% | 11.5% | 6.5% | — |
| Return on assets | 3.5% | 1.6% | 2.1% | 2.0% | 3.7% | 1.8% | — |
| Revenue growth | 6.3% | -1.0% | 15.1% | 1.5% | -1.1% | 9.0% | — |
| Earnings growth | 124.5% | -23.7% | 11.3% | -43.1% | 85.4% | 188.8% | — |
| Current ratio | — | 4.22x | 10.26x | 8.54x | 4.25x | 7.93x | -1.28x |
| Debt to equity | — | 1.74x | 1.47x | 1.73x | — | — | — |
| Equity ratio | 32.3% | 33.3% | 32.2% | 31.6% | 32.6% | 27.5% | — |
| Interest coverage | 20.89x | 0.34x | 0.44x | 0.62x | 1.17x | 0.51x | — |
| Buybacks as a share of market value | -2.9% | 5.5% | 7.9% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.6% | 4.0% | 13.1% |
| Operating income | 60.3% | 33.4% | 16.5% |
| Net income | 24.0% | 15.0% | 12.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 29.2% | 21.7% | 20.9% | 24.9% |
| Net margin | 12.5% | 11.6% | 12.5% | 13.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.9 | 13.1 | 7.7 | 10.0 | 7.4 | 9.8 | 36.6 | 7.7 | 16.4 | 29.4 |
| Price to sales | 1.8 | 1.0 | 0.8 | 1.1 | 1.4 | 1.0 | 1.4 | 1.8 | 3.9 | 3.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 26 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.90 | 1.50 | 1.30 | 0.20 | 0.42 | 0.15 | 0.45 | 0.30 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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