M 
130.80
0.00%
Close of 9 Nov 2026, in NOK
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At a glance
Figures in NOK, from our data supplier.
Revenue
NOK 5.66bn
FY2016FY2025
Net income
NOK 253.0m
FY2016FY2025
Free cash flow
NOK 172.1m
FY2016FY2025
Shareholders' equity
NOK 1.19bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 5.66bn | NOK 6.35bn | NOK 5.63bn | NOK 4.87bn | NOK 4.28bn | NOK 4.19bn | NOK 4.07bn | NOK 3.91bn | NOK 3.38bn | NOK 2.97bn |
| Research and development | — | NOK 2.2m | NOK 9.5m | NOK 12.3m | NOK 9.6m | NOK 8.9m | NOK 12.3m | NOK 7.6m | NOK 11.9m | NOK 17.6m |
| Operating income | NOK 389.8m | NOK 516.6m | NOK 408.2m | NOK 403.1m | NOK 348.9m | NOK 371.0m | NOK 159.8m | NOK 99.0m | NOK 118.0m | NOK 289.6m |
| Net income | NOK 253.0m | NOK 416.5m | NOK 318.1m | NOK 303.0m | NOK 234.7m | NOK 249.2m | NOK 35.1m | NOK 63.6m | NOK 79.5m | NOK 213.8m |
| Diluted earnings per share | 9.30 | 15.18 | 11.55 | 11.09 | 7.46 | 9.24 | 1.30 | 2.36 | 2.95 | 7.93 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 4.30bn | NOK 3.77bn | NOK 3.88bn | NOK 3.01bn | NOK 3.03bn | NOK 2.72bn | NOK 2.67bn | NOK 1.89bn | NOK 1.81bn | NOK 1.38bn |
| Cash and short-term investments | NOK 113.5m | NOK 164.5m | NOK 278.1m | NOK 114.6m | NOK 156.2m | NOK 277.4m | NOK 69.7m | NOK 120.0m | NOK 109.7m | NOK 86.6m |
| Total liabilities | NOK 3.07bn | NOK 2.49bn | NOK 2.80bn | NOK 2.02bn | NOK 2.18bn | NOK 1.94bn | NOK 2.09bn | NOK 1.30bn | NOK 1.23bn | NOK 874.1m |
| Debt | NOK 1.54bn | NOK 1.00bn | NOK 1.25bn | NOK 765.4m | NOK 1.01bn | NOK 864.5m | NOK 1.09bn | NOK 198.4m | NOK 288.8m | NOK 59.5m |
| Shareholders' equity | NOK 1.19bn | NOK 1.24bn | NOK 1.03bn | NOK 992.4m | NOK 850.1m | NOK 773.6m | NOK 581.4m | NOK 593.2m | NOK 582.1m | NOK 507.5m |
| Shares outstanding | 27m | 27m | 28m | 27m | 31m | 27m | 27m | 27m | 27m | 27m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NOK 251.3m | NOK 671.8m | NOK 423.3m | NOK 561.6m | NOK 458.6m | NOK 667.7m | NOK 248.2m | NOK 207.9m | NOK 66.0m | NOK 90.2m |
| Capital spending | −NOK 79.2m | −NOK 96.0m | −NOK 100.9m | −NOK 43.2m | −NOK 40.7m | −NOK 25.2m | −NOK 62.8m | −NOK 61.2m | −NOK 46.8m | −NOK 38.3m |
| Free cash flow | NOK 172.1m | NOK 575.8m | NOK 322.4m | NOK 518.4m | NOK 417.9m | NOK 642.5m | NOK 185.4m | NOK 146.7m | NOK 19.2m | NOK 51.9m |
| Dividends paid | −NOK 277.0m | −NOK 221.1m | −NOK 247.3m | −NOK 164.4m | −NOK 215.4m | −NOK 53.6m | −NOK 40.5m | −NOK 40.4m | −NOK 78.7m | −NOK 76.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 1.75bn | NOK 1.85bn | NOK 1.52bn | NOK 1.42bn | NOK 1.66bn | NOK 1.75bn | NOK 1.73bn | NOK 1.35bn |
| Operating income | NOK 105.8m | NOK 157.8m | NOK 73.2m | NOK 60.9m | NOK 66.3m | NOK 189.4m | NOK 95.9m | NOK 117.1m |
| Net income | NOK 89.1m | NOK 110.0m | NOK 40.3m | NOK 38.5m | NOK 40.0m | NOK 134.2m | NOK 89.9m | NOK 81.1m |
| Diluted earnings per share | 3.23 | 3.99 | 1.48 | 1.41 | 1.47 | 4.93 | 3.28 | 2.96 |
| Cash from operations | NOK 135.0m | NOK 179.0m | NOK 251.0m | −NOK 140.0m | NOK 115.0m | −NOK 21.0m | NOK 409.0m | NOK 29.0m |
| Capital spending | −NOK 17.0m | −NOK 14.0m | −NOK 78.0m | −NOK 19.0m | −NOK 15.0m | −NOK 24.0m | −NOK 11.0m | −NOK 28.0m |
| Free cash flow | NOK 118.0m | NOK 165.0m | NOK 173.0m | −NOK 159.0m | NOK 100.0m | −NOK 45.0m | NOK 398.0m | NOK 1.0m |
| Total assets | NOK 4.22bn | NOK 4.24bn | NOK 4.30bn | NOK 3.97bn | NOK 3.86bn | NOK 4.10bn | NOK 3.77bn | NOK 3.84bn |
| Cash and short-term investments | — | — | NOK 113.5m | NOK 28.3m | NOK 31.1m | NOK 240.2m | NOK 164.5m | NOK 62.5m |
| Debt | NOK 869.6m | NOK 869.5m | NOK 1.25bn | NOK 1.44bn | NOK 1.18bn | NOK 700.5m | NOK 1.00bn | NOK 1.30bn |
| Shareholders' equity | NOK 1.23bn | NOK 1.27bn | NOK 1.19bn | NOK 1.08bn | NOK 1.12bn | NOK 1.35bn | NOK 1.24bn | NOK 1.12bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.1% | 6.2% | 8.3% |
| Operating income | -1.1% | 1.0% | 8.3% |
| Net income | -5.8% | 0.3% | 5.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 7.5% | 7.6% | 7.9% | 6.9% |
| Net margin | 5.6% | 5.7% | 5.7% | 4.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.0 | 13.1 | 10.7 | 12.5 | 20.9 | 14.0 | 55.3 | 25.7 | 25.1 | 13.2 |
| Price to sales | 0.8 | 0.9 | 0.6 | 0.8 | 1.1 | 0.8 | 0.5 | 0.4 | 0.6 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 10 years. Last went ex-dividend on 17 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 5.00 | 10.00 | 8.00 | 9.00 | 6.00 | 8.00 | 2.00 | 1.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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