325.80
+1.21%
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 208.37bn
FY2016FY2025
Net income
NOK 41.94bn
FY2016FY2025
Total assets
NOK 3.70trn
FY2016FY2025
Shareholders' equity
NOK 295.15bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | NOK 208.37bn | NOK 223.52bn | NOK 187.68bn | NOK 107.22bn | NOK 70.29bn | NOK 77.70bn | NOK 86.79bn | NOK 76.84bn | NOK 74.31bn | NOK 75.23bn |
| Operating income | — | — | — | NOK 39.88bn | — | — | — | — | — | — |
| Net income | NOK 41.94bn | NOK 43.87bn | NOK 38.17bn | NOK 32.59bn | NOK 24.41bn | NOK 18.71bn | NOK 24.60bn | NOK 23.32bn | NOK 20.86bn | NOK 18.66bn |
| Diluted earnings per share | 28.56 | 29.34 | 24.83 | 21.01 | 15.74 | 12.03 | 15.54 | 14.55 | 12.84 | 11.46 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 3.70trn | NOK 3.61trn | NOK 3.44trn | NOK 3.23trn | NOK 2.92trn | NOK 2.92trn | NOK 2.79trn | NOK 2.63trn | NOK 2.70trn | NOK 2.65trn |
| Cash and short-term investments | — | — | — | NOK 573.35bn | — | — | — | — | — | — |
| Total liabilities | NOK 3.40trn | NOK 3.33trn | NOK 3.17trn | NOK 2.98trn | NOK 2.68trn | NOK 2.67trn | NOK 2.55trn | NOK 2.41trn | NOK 2.48trn | NOK 2.45trn |
| Debt | NOK 935.67bn | NOK 1.01trn | NOK 949.90bn | NOK 836.98bn | NOK 776.37bn | NOK 821.87bn | NOK 904.85bn | NOK 832.67bn | NOK 651.09bn | NOK 641.73bn |
| Shareholders' equity | NOK 295.15bn | NOK 283.11bn | NOK 269.13bn | NOK 249.61bn | NOK 243.65bn | NOK 248.28bn | NOK 242.21bn | NOK 223.97bn | NOK 216.90bn | NOK 206.42bn |
| Shares outstanding | 1,468m | 1,495m | 1,537m | 1,550m | 1,550m | 1,555m | 1,583m | 1,602m | 1,625m | 1,628m |
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 21.77bn | NOK 21.54bn | NOK 23.13bn | — | NOK 22.10bn | NOK 21.89bn | NOK 21.46bn | NOK 21.83bn |
| Net income | NOK 9.81bn | NOK 9.87bn | NOK 11.19bn | NOK 10.27bn | NOK 10.05bn | NOK 10.43bn | NOK 12.18bn | NOK 12.16bn |
| Diluted earnings per share | 6.53 | 6.57 | 7.45 | 6.83 | 6.69 | 6.94 | 8.10 | 8.09 |
| Total assets | NOK 3.88trn | NOK 3.84trn | NOK 3.70trn | NOK 3.80trn | NOK 3.84trn | NOK 4.03trn | NOK 3.61trn | NOK 3.85trn |
| Debt | — | — | NOK 935.67bn | NOK 972.12bn | NOK 1.03trn | NOK 884.99bn | NOK 891.03bn | NOK 555.68bn |
| Shareholders' equity | NOK 278.76bn | NOK 300.32bn | NOK 295.15bn | NOK 283.36bn | NOK 275.95bn | NOK 292.26bn | NOK 283.11bn | NOK 279.92bn |
Financial ratios
Data as of 1 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | 61.9% | 109.5% | 59.2% | 43.0% | 57.3% | 104.7% |
| Net margin | 46.9% | 51.7% | 48.6% | 50.9% | 45.7% | 35.5% | — | — |
| Return on equity | 14.2% | 15.5% | 14.7% | 12.9% | 10.4% | 8.0% | — | — |
| Return on assets | 1.1% | 1.2% | 1.1% | 1.0% | 0.9% | 0.7% | — | — |
| Revenue growth | 5.5% | 4.4% | 24.0% | 18.2% | -1.1% | 2.8% | — | — |
| Earnings growth | -4.4% | 11.1% | 18.4% | 31.7% | 27.6% | -22.8% | — | — |
| Current ratio | — | — | 0.78x | 1.54x | 2.38x | 2.66x | 1.88x | 0.89x |
| Debt to equity | 3.17x | 3.57x | 3.52x | 4.12x | 3.18x | 3.31x | — | — |
| Equity ratio | 8.0% | 7.8% | 7.8% | 8.0% | 8.3% | 8.5% | — | — |
| Interest coverage | — | — | 0.51x | 2.26x | 4.00x | 1.44x | 1.19x | 2.22x |
| Buybacks as a share of market value | — | 1.2% | 1.9% | 0.0% | -0.0% | 1.9% | 1.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.5% | 9.6% | 5.1% |
| Net income | 8.8% | 17.5% | 5.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Net margin | 19.9% | 21.5% | 22.8% | 24.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.8 | 7.7 | 8.7 | 9.3 | 12.8 | 14.0 | 10.6 | 9.5 | 11.8 | 11.2 |
| Price to sales | 4.3 | 3.6 | 3.8 | 4.0 | 5.0 | 4.3 | 4.3 | 4.0 | 4.4 | 3.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 22 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 18.00 | 16.75 | 16.00 | 12.50 | 9.75 | 9.00 | 8.40 | 8.25 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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