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Note AB (publ) NOTE.ST · SEK

Information Technology · Nasdaq Stockholm · 🇸🇪 Sweden

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158.70

+3.86%

Close of 9 Nov 2026, in SEK

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in SEK, from our data supplier.

FY2025

Revenue

SEK 3.81bn

FY2016FY2025

Net income

SEK 281.0m

FY2016FY2025

Free cash flow

SEK 391.4m

FY2016FY2025

Shareholders' equity

SEK 1.65bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueSEK 3.81bnSEK 3.90bnSEK 4.24bnSEK 3.69bnSEK 2.64bnSEK 1.87bnSEK 1.76bnSEK 1.38bnSEK 1.18bnSEK 1.10bn
Gross profitSEK 529.0mSEK 519.0mSEK 513.8mSEK 473.2mSEK 353.7mSEK 224.7mSEK 206.5mSEK 171.7mSEK 140.3mSEK 131.7m
Research and development————————SEK 311,000—
Operating incomeSEK 382.0mSEK 351.9mSEK 420.4mSEK 344.7mSEK 250.5mSEK 149.1mSEK 124.4mSEK 83.9mSEK 93.4mSEK 60.2m
Net incomeSEK 281.0mSEK 248.0mSEK 320.0mSEK 254.2mSEK 194.1mSEK 115.7mSEK 92.3mSEK 64.2mSEK 72.1mSEK 45.2m
Diluted earnings per share9.848.7111.048.776.714.033.272.182.491.57

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsSEK 3.43bnSEK 3.21bnSEK 3.22bnSEK 2.77bnSEK 2.16bnSEK 1.11bnSEK 1.13bnSEK 964.9mSEK 756.0mSEK 694.5m
Cash and short-term investmentsSEK 293.0mSEK 411.2mSEK 169.8mSEK 87.7mSEK 99.2mSEK 67.7mSEK 72.6mSEK 31.0mSEK 87.2mSEK 71.6m
Total liabilitiesSEK 1.79bnSEK 1.57bnSEK 1.82bnSEK 1.67bnSEK 1.36bnSEK 541.6mSEK 663.8mSEK 581.3mSEK 386.8mSEK 376.4m
DebtSEK 824.3mSEK 630.1mSEK 753.3mSEK 553.3mSEK 469.0mSEK 153.0mSEK 265.7mSEK 188.5mSEK 110.1mSEK 132.0m
Shareholders' equitySEK 1.65bnSEK 1.64bnSEK 1.40bnSEK 1.10bnSEK 800.3mSEK 567.6mSEK 465.2mSEK 383.6mSEK 369.2mSEK 318.0m
Shares outstanding29m28m29m29m29m29m28m29m29m29m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsSEK 507.0mSEK 601.6mSEK 341.8mSEK 49.8m−SEK 33.1mSEK 188.7mSEK 96.5mSEK 26.8mSEK 39.7mSEK 48.6m
Capital spending−SEK 115.6m−SEK 106.4m−SEK 91.7m−SEK 47.1m−SEK 28.6m−SEK 17.0m−SEK 21.5m−SEK 23.1m−SEK 14.0m−SEK 9.0m
Free cash flowSEK 391.4mSEK 495.2mSEK 250.1mSEK 2.7m−SEK 61.8mSEK 171.7mSEK 75.0mSEK 3.7mSEK 25.7mSEK 39.6m
Dividends paid−SEK 199.4m—————−SEK 19.5m−SEK 28.9m−SEK 20.2m−SEK 20.2m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueSEK 1.18bnSEK 962.0mSEK 1.00bnSEK 830.0mSEK 980.0mSEK 1.00bnSEK 1.02bnSEK 809.0m
Gross profitSEK 171.0mSEK 129.0mSEK 154.0mSEK 111.0mSEK 131.0mSEK 133.0mSEK 148.0mSEK 101.0m
Operating incomeSEK 90.0mSEK 84.0mSEK 114.0mSEK 74.0mSEK 101.0mSEK 93.0mSEK 98.0mSEK 64.0m
Net incomeSEK 56.0mSEK 52.0mSEK 86.0mSEK 54.0mSEK 76.0mSEK 65.0mSEK 73.0mSEK 43.0m
Diluted earnings per share1.961.823.011.892.662.282.561.51
Cash from operations−SEK 8.0mSEK 61.0mSEK 82.0mSEK 133.0mSEK 103.0mSEK 190.0mSEK 166.0mSEK 168.0m
Capital spending—−SEK 61.0m−SEK 82.0m−SEK 24.0m−SEK 103.0m−SEK 190.0m−SEK 165.0m−SEK 38.0m
Free cash flow—SEK 0SEK 0SEK 109.0mSEK 0SEK 0SEK 1.0mSEK 130.0m
Total assetsSEK 4.95bnSEK 4.94bnSEK 3.43bnSEK 3.16bnSEK 3.12bnSEK 3.30bnSEK 3.21bnSEK 3.16bn
Cash and short-term investmentsSEK 147.0mSEK 338.0mSEK 293.0mSEK 473.0mSEK 372.0mSEK 531.0mSEK 411.2mSEK 316.0m
DebtSEK 1.51bnSEK 1.66bnSEK 823.0mSEK 621.0mSEK 617.0mSEK 634.0mSEK 630.0mSEK 546.0m
Shareholders' equitySEK 1.83bnSEK 1.73bnSEK 1.65bnSEK 1.57bnSEK 1.53bnSEK 1.65bnSEK 1.64bnSEK 1.54bn

Financial ratios

Data as of 15 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020FY2017
Gross margin13.9%13.3%12.1%12.8%13.4%12.0%—
Operating margin10.0%9.0%10.1%8.9%9.2%7.9%—
Net margin7.4%6.4%7.5%6.9%7.3%6.2%—
Return on equity17.1%15.1%22.9%23.1%24.3%20.4%—
Return on assets8.2%7.7%9.9%9.2%9.0%10.4%—
Free cash flow yield12.2%13.9%8.4%1.9%-0.1%4.0%—
Revenue growth-2.2%-8.1%15.1%39.5%41.1%6.4%—
Earnings growth13.3%-22.5%25.8%31.0%67.8%25.3%—
Current ratio1.44x1.85x1.60x1.53x1.45x1.82x—
Debt to equity0.44x0.32x0.35x0.44x0.49x0.20x—
Equity ratio48.0%51.1%43.4%39.7%37.0%51.2%—
Interest coverage10.78x7.67x9.78x15.04x23.49x17.85x—
R&D as a share of sales——————0.0%
Buybacks as a share of market value-0.3%1.7%0.0%-0.2%-0.7%-1.8%—

Growth per year

Compound annual rate

3 years5 years10 years
Revenue1.1%15.3%13.0%
Operating income3.5%20.7%23.8%
Net income3.4%19.4%23.3%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin13.6%13.0%13.0%12.7%
Operating margin9.5%9.6%9.4%8.6%
Net margin6.9%7.1%7.0%6.4%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings18.517.013.420.434.514.812.19.89.810.8
Price to sales1.41.11.01.42.50.90.60.50.60.5

Dividends and splits

Per share, in the currency the company pays

Paid for 1 years. Last went ex-dividend on 25 Apr 2025.

FY2025FY2019FY2018FY2017FY2016FY2015FY2013FY2012
Paid in the year7.000.701.000.700.700.500.750.30

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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