P 
58.20
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 3.43bn
FY2016FY2025
Net income
NOK 7.5m
FY2016FY2025
Free cash flow
NOK 142.4m
FY2016FY2025
Shareholders' equity
NOK 1.95bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 3.43bn | NOK 3.60bn | NOK 3.42bn | NOK 3.41bn | NOK 3.47bn | NOK 3.23bn | NOK 2.29bn | NOK 1.52bn | NOK 1.44bn | NOK 1.44bn |
| Gross profit | NOK 3.07bn | NOK 3.19bn | NOK 2.90bn | NOK 2.86bn | NOK 2.94bn | NOK 2.65bn | NOK 1.84bn | NOK 1.30bn | NOK 1.21bn | NOK 1.22bn |
| Operating income | −NOK 47.0m | NOK 714.0m | −NOK 39.1m | NOK 95.0m | NOK 426.3m | NOK 227.1m | NOK 181.9m | NOK 79.1m | NOK 82.9m | −NOK 132.3m |
| Net income | NOK 7.5m | NOK 677.8m | −NOK 47.0m | NOK 75.5m | NOK 150.7m | NOK 158.5m | NOK 155.9m | NOK 93.1m | NOK 86.5m | −NOK 111.7m |
| Diluted earnings per share | 0.15 | 13.84 | -0.96 | 1.54 | 1.40 | 3.25 | 3.19 | 1.91 | 1.77 | -2.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 3.99bn | NOK 5.71bn | NOK 6.06bn | NOK 6.06bn | NOK 6.47bn | NOK 5.72bn | NOK 4.15bn | NOK 2.63bn | NOK 2.48bn | NOK 2.34bn |
| Cash and short-term investments | — | NOK 1.28bn | NOK 276.2m | NOK 347.7m | NOK 680.5m | NOK 710.3m | NOK 323.7m | NOK 235.4m | NOK 186.8m | NOK 190.8m |
| Total liabilities | NOK 1.93bn | NOK 2.19bn | NOK 2.60bn | NOK 2.49bn | NOK 2.65bn | NOK 2.85bn | NOK 1.82bn | NOK 805.9m | NOK 832.0m | NOK 917.6m |
| Debt | NOK 20.3m | NOK 632.9m | NOK 1.24bn | NOK 1.01bn | NOK 1.05bn | NOK 1.08bn | NOK 635.2m | NOK 249.0m | NOK 264.6m | NOK 303.5m |
| Shareholders' equity | NOK 1.95bn | NOK 3.52bn | NOK 3.31bn | NOK 3.51bn | NOK 3.78bn | NOK 3.03bn | NOK 2.44bn | NOK 1.81bn | NOK 1.61bn | NOK 1.39bn |
| Shares outstanding | 49m | 49m | 49m | 49m | 108m | 49m | 49m | 49m | 49m | 49m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NOK 213.2m | NOK 241.7m | NOK 178.9m | NOK 221.2m | NOK 372.6m | NOK 315.7m | NOK 163.9m | NOK 141.3m | NOK 66.3m | NOK 78.5m |
| Capital spending | −NOK 70.8m | −NOK 71.1m | −NOK 75.3m | −NOK 88.4m | −NOK 77.2m | −NOK 86.5m | −NOK 50.7m | −NOK 21.3m | −NOK 22.9m | −NOK 42.4m |
| Free cash flow | NOK 142.4m | NOK 170.6m | NOK 103.6m | NOK 132.8m | NOK 295.5m | NOK 229.2m | NOK 113.1m | NOK 120.0m | NOK 43.4m | NOK 36.1m |
| Dividends paid | −NOK 1.10bn | −NOK 50.9m | −NOK 92.8m | −NOK 163.2m | −NOK 163.2m | −NOK 163.2m | −NOK 85.5m | −NOK 73.3m | −NOK 49.1m | −NOK 63.2m |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 89.5% | 88.6% | 84.8% | 83.9% | 84.8% | 82.1% | — |
| Operating margin | 1.4% | 0.9% | -0.9% | 3.4% | 6.1% | 7.2% | — |
| Net margin | 0.2% | 18.8% | -1.4% | 2.2% | 4.3% | 4.9% | — |
| Return on equity | 0.4% | 19.3% | -1.4% | 2.2% | 4.0% | 5.2% | — |
| Return on assets | 0.2% | 11.9% | -0.8% | 1.2% | 2.3% | 2.8% | — |
| Free cash flow yield | — | 11.0% | 8.9% | 10.9% | 7.2% | 14.2% | 7.6% |
| Revenue growth | -4.6% | 5.3% | 0.3% | -1.9% | 7.4% | 41.2% | — |
| Earnings growth | -98.9% | -1543.3% | -162.2% | -49.9% | -4.9% | 1.6% | — |
| Current ratio | 0.60x | 1.40x | 0.54x | 0.61x | 0.86x | 0.86x | — |
| Debt to equity | 0.01x | 0.01x | 0.24x | 0.17x | 0.17x | 0.20x | — |
| Equity ratio | 48.9% | 61.6% | 54.7% | 57.9% | 58.3% | 52.9% | — |
| Interest coverage | 1.97x | 3.37x | -0.60x | 3.15x | 6.36x | 6.56x | — |
| Buybacks as a share of market value | — | 0.0% | -0.2% | 54.5% | -120.4% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.2% | 1.2% | 8.3% |
| Operating income | — | — | 13.4% |
| Net income | -53.7% | -45.7% | -38.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 89.0% | 86.7% | 85.7% | 85.0% |
| Operating margin | 9.5% | 5.2% | 6.7% | 5.5% |
| Net margin | 9.8% | 5.2% | 5.0% | 7.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 355.2 | 6.1 | -71.5 | 37.9 | 66.4 | 16.6 | 11.0 | 13.8 | 10.5 | -6.0 |
| Price to sales | 0.8 | 1.1 | 1.0 | 0.8 | 2.9 | 0.8 | 0.8 | 0.8 | 0.6 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 12 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.30 | 2.00 | 1.00 | 1.50 | 2.00 | 1.75 | 1.50 | 1.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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