106.00
-6.36%
Close of 9 Nov 2026, in DKK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in DKK, from our data supplier.
Revenue
DKK 251.3m
FY2016FY2025
Net income
DKK 43.1m
FY2016FY2025
Free cash flow
DKK 81.7m
FY2016FY2025
Shareholders' equity
DKK 318.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 251.3m | DKK 267.8m | DKK 239.2m | DKK 187.9m | DKK 154.7m | DKK 120.1m | DKK 96.4m | DKK 83.5m | DKK 80.6m | DKK 71.8m |
| Research and development | — | — | DKK 17.0m | DKK 15.0m | DKK 14.1m | DKK 12.3m | DKK 11.0m | DKK 11.1m | DKK 8.9m | DKK 8.1m |
| Operating income | DKK 58.7m | DKK 88.3m | DKK 85.4m | DKK 49.4m | DKK 39.5m | DKK 20.8m | DKK 10.9m | DKK 3.4m | DKK 8.8m | DKK 11.1m |
| Net income | DKK 43.1m | DKK 64.8m | DKK 63.2m | DKK 38.4m | DKK 31.0m | DKK 15.5m | DKK 8.1m | DKK 2.5m | DKK 6.7m | DKK 8.4m |
| Diluted earnings per share | 2.20 | 3.31 | 3.23 | 1.96 | 1.59 | 0.79 | 0.42 | 0.12 | 0.35 | 0.36 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | DKK 388.9m | DKK 392.4m | DKK 340.9m | DKK 322.7m | DKK 215.9m | DKK 155.1m | DKK 121.0m | DKK 104.6m | DKK 102.6m | DKK 99.0m |
| Cash and short-term investments | DKK 41.9m | DKK 22.3m | DKK 9.2m | DKK 2.2m | DKK 72.2m | DKK 50.8m | DKK 31.2m | DKK 25.6m | DKK 34.3m | DKK 37.3m |
| Total liabilities | DKK 70.6m | DKK 103.9m | DKK 111.7m | DKK 153.2m | DKK 81.0m | DKK 49.2m | DKK 29.1m | DKK 19.3m | DKK 17.5m | DKK 18.6m |
| Debt | DKK 27.6m | DKK 51.6m | DKK 50.7m | DKK 98.6m | DKK 43.5m | DKK 18.8m | — | DKK 10.8m | DKK 10.6m | DKK 9.6m |
| Shareholders' equity | DKK 318.3m | DKK 288.5m | DKK 229.2m | DKK 169.5m | DKK 134.9m | DKK 105.9m | DKK 91.9m | DKK 85.3m | DKK 85.1m | DKK 80.4m |
| Shares outstanding | 20m | 20m | 20m | 20m | 20m | 20m | 20m | 21m | 19m | 24m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | DKK 88.5m | DKK 67.9m | DKK 86.3m | DKK 62.3m | DKK 50.2m | DKK 43.8m | DKK 27.4m | DKK 18.7m | DKK 11.6m | DKK 1.3m |
| Capital spending | −DKK 6.9m | −DKK 47.4m | −DKK 27.1m | −DKK 226.4m | −DKK 19.6m | −DKK 18.1m | −DKK 15.3m | −DKK 25.0m | −DKK 12.5m | −DKK 11.0m |
| Free cash flow | DKK 81.7m | DKK 20.5m | DKK 59.2m | −DKK 164.1m | DKK 30.7m | DKK 25.6m | DKK 12.1m | −DKK 6.3m | −DKK 927,407 | −DKK 9.7m |
| Dividends paid | −DKK 12.5m | −DKK 5.5m | −DKK 4.1m | −DKK 3.3m | −DKK 2.7m | −DKK 2.3m | −DKK 2.2m | −DKK 2.2m | −DKK 2.0m | −DKK 2.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 140.0m | DKK 119.0m | DKK 132.3m | DKK 128.6m | DKK 139.2m | DKK 69.6m | DKK 107.4m | DKK 53.7m |
| Operating income | DKK 36.3m | DKK 25.9m | DKK 32.8m | DKK 44.4m | DKK 44.0m | DKK 22.0m | DKK 36.9m | DKK 18.5m |
| Net income | DKK 27.9m | DKK 19.0m | DKK 24.1m | DKK 33.0m | DKK 31.8m | DKK 15.9m | DKK 27.0m | DKK 13.5m |
| Diluted earnings per share | 1.42 | 0.97 | 1.23 | 1.69 | 1.63 | 0.81 | 1.38 | 0.69 |
| Cash from operations | DKK 30.0m | DKK 48.0m | DKK 39.0m | DKK 56.0m | DKK 11.0m | DKK 5.0m | DKK 66.0m | DKK 33.0m |
| Capital spending | −DKK 30.0m | −DKK 2.0m | −DKK 4.0m | −DKK 23.0m | — | — | −DKK 14.0m | — |
| Free cash flow | DKK 0 | DKK 46.0m | DKK 35.0m | DKK 33.0m | — | — | DKK 52.0m | — |
| Total assets | DKK 424.6m | DKK 388.9m | DKK 421.0m | DKK 392.4m | DKK 371.8m | DKK 371.8m | DKK 340.9m | DKK 340.9m |
| Cash and short-term investments | DKK 37.3m | DKK 41.9m | DKK 29.7m | DKK 22.3m | DKK 1.7m | DKK 1.7m | DKK 9.2m | DKK 9.2m |
| Debt | DKK 2.1m | DKK 27.6m | DKK 49.3m | DKK 50.4m | DKK 49.8m | DKK 1.9m | DKK 50.7m | DKK 1.9m |
| Shareholders' equity | DKK 325.5m | DKK 318.3m | DKK 300.1m | DKK 288.5m | DKK 255.5m | DKK 255.5m | DKK 229.2m | DKK 229.2m |
Financial ratios
Data as of 4 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 23.4% | 33.2% | 35.9% | 26.5% | 25.5% | 17.0% | — | — |
| Net margin | 17.2% | 24.2% | 26.4% | 20.4% | 20.0% | 12.9% | — | — |
| Return on equity | 13.5% | 22.5% | 27.6% | 22.6% | 23.0% | 14.7% | — | — |
| Return on assets | 11.1% | 16.5% | 18.5% | 11.9% | 14.4% | 10.0% | — | — |
| Free cash flow yield | 4.8% | 5.8% | 5.7% | 14.4% | 3.5% | 3.1% | — | — |
| Revenue growth | -6.2% | 12.0% | 27.3% | 21.5% | 28.8% | 24.6% | — | — |
| Earnings growth | -33.5% | 2.6% | 64.6% | 23.8% | 99.6% | 91.6% | — | — |
| Current ratio | 2.46x | 2.08x | 1.25x | 1.02x | 3.03x | 2.94x | — | — |
| Debt to equity | 0.09x | 0.17x | 0.22x | 0.58x | 0.06x | 0.04x | — | — |
| Equity ratio | 81.8% | 73.5% | 67.2% | 52.5% | 62.5% | 68.3% | — | — |
| Interest coverage | 27.34x | 31.51x | 18.88x | 59.81x | 75.83x | 63.87x | — | — |
| R&D as a share of sales | — | — | 7.1% | 8.0% | 9.1% | 10.3% | 11.4% | 13.3% |
| Buybacks as a share of market value | 0.0% | 0.0% | -0.0% | 0.0% | -0.0% | -0.1% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.2% | 15.9% | 13.8% |
| Operating income | 5.9% | 23.1% | 13.4% |
| Net income | 4.0% | 22.6% | 12.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 28.3% | 29.8% | 28.0% | 24.2% |
| Net margin | 20.8% | 22.1% | 21.0% | 18.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 51.1 | 54.1 | 83.3 | 80.3 | 177.9 | 239.2 | 127.7 | 164.5 | 116.8 | 155.1 |
| Price to sales | 8.8 | 13.1 | 22.0 | 16.4 | 35.7 | 30.9 | 10.7 | 4.9 | 9.7 | 18.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 14 years. Last went ex-dividend on 30 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.00 | 0.64 | 0.28 | 0.21 | 0.17 | 0.14 | 0.12 | 0.11 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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