220.00
+2.33%
Close of 9 Nov 2026, in NOK
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At a glance
Figures in NOK, from our data supplier.
Revenue
NOK 43.05bn
FY2016FY2025
Net income
NOK 1.55bn
FY2016FY2025
Free cash flow
NOK 2.69bn
FY2016FY2025
Shareholders' equity
NOK 3.68bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 43.05bn | NOK 41.40bn | NOK 43.15bn | NOK 38.66bn | NOK 37.59bn | NOK 38.14bn | NOK 36.48bn | NOK 35.54bn | NOK 30.13bn | NOK 28.61bn |
| Operating income | NOK 1.95bn | NOK 1.60bn | NOK 1.41bn | NOK 1.51bn | NOK 1.36bn | NOK 1.21bn | NOK 595.0m | NOK 580.0m | NOK 1.62bn | NOK 1.06bn |
| Net income | NOK 1.55bn | NOK 1.26bn | NOK 1.07bn | NOK 1.09bn | NOK 958.0m | NOK 923.0m | NOK 451.0m | NOK 540.0m | NOK 1.09bn | NOK 887.0m |
| Diluted earnings per share | 11.51 | 9.38 | 7.89 | 8.06 | 8.90 | 6.83 | 3.34 | 4.00 | 8.08 | 6.57 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 19.65bn | NOK 18.80bn | NOK 18.21bn | NOK 17.64bn | NOK 17.32bn | NOK 17.54bn | NOK 21.98bn | NOK 22.71bn | NOK 20.44bn | NOK 15.01bn |
| Cash and short-term investments | NOK 4.02bn | NOK 2.96bn | NOK 2.97bn | NOK 3.16bn | NOK 4.32bn | NOK 3.73bn | NOK 218.0m | NOK 341.0m | NOK 352.0m | NOK 644.0m |
| Total liabilities | NOK 15.89bn | NOK 15.45bn | NOK 15.11bn | NOK 14.65bn | NOK 14.45bn | NOK 14.66bn | NOK 18.03bn | NOK 18.46bn | NOK 16.59bn | NOK 11.29bn |
| Debt | NOK 782.0m | NOK 1.55bn | NOK 1.30bn | NOK 1.27bn | NOK 1.41bn | NOK 1.33bn | NOK 3.12bn | NOK 1.88bn | NOK 1.37bn | NOK 1.01bn |
| Shareholders' equity | NOK 3.68bn | NOK 3.30bn | NOK 3.05bn | NOK 2.97bn | NOK 2.85bn | NOK 2.85bn | NOK 3.81bn | NOK 3.48bn | NOK 3.67bn | NOK 3.68bn |
| Shares outstanding | 135m | 134m | 135m | 135m | 108m | 135m | 135m | 135m | 135m | 135m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NOK 3.29bn | NOK 2.23bn | NOK 2.94bn | NOK 1.41bn | NOK 2.19bn | NOK 2.27bn | NOK 115.0m | NOK 1.40bn | NOK 702.0m | NOK 1.88bn |
| Capital spending | −NOK 604.0m | −NOK 473.0m | −NOK 844.0m | −NOK 785.0m | −NOK 751.0m | −NOK 908.0m | −NOK 718.0m | −NOK 1.14bn | −NOK 769.0m | −NOK 718.0m |
| Free cash flow | NOK 2.69bn | NOK 1.75bn | NOK 2.10bn | NOK 624.0m | NOK 1.44bn | NOK 1.36bn | −NOK 603.0m | NOK 259.0m | −NOK 67.0m | NOK 1.16bn |
| Dividends paid | −NOK 1.22bn | −NOK 1.07bn | −NOK 1.05bn | −NOK 945.0m | −NOK 776.0m | −NOK 3.04bn | −NOK 669.0m | −NOK 668.0m | −NOK 602.0m | −NOK 535.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 12.34bn | NOK 9.65bn | NOK 12.12bn | NOK 10.65bn | NOK 11.33bn | NOK 9.04bn | NOK 11.49bn | NOK 9.66bn |
| Operating income | NOK 622.0m | NOK 20.0m | NOK 783.0m | NOK 719.0m | NOK 498.0m | −NOK 43.0m | NOK 549.0m | NOK 590.0m |
| Net income | NOK 495.0m | NOK 12.0m | NOK 633.0m | NOK 546.0m | NOK 395.0m | −NOK 20.0m | NOK 430.0m | NOK 465.0m |
| Diluted earnings per share | 3.67 | 0.09 | 4.69 | 4.05 | 2.93 | -0.15 | 3.20 | 3.46 |
| Cash from operations | NOK 856.0m | NOK 893.0m | NOK 3.29bn | NOK 1.80bn | NOK 146.0m | NOK 313.0m | NOK 1.18bn | NOK 1.17bn |
| Capital spending | −NOK 136.0m | −NOK 100.0m | −NOK 399.0m | −NOK 322.0m | −NOK 182.0m | −NOK 80.0m | −NOK 113.0m | −NOK 50.0m |
| Free cash flow | NOK 720.0m | NOK 793.0m | NOK 2.89bn | NOK 1.47bn | −NOK 36.0m | NOK 233.0m | NOK 1.07bn | NOK 1.11bn |
| Total assets | NOK 19.98bn | NOK 18.96bn | NOK 19.65bn | NOK 18.97bn | NOK 18.29bn | NOK 18.16bn | NOK 18.80bn | NOK 17.72bn |
| Cash and short-term investments | — | — | NOK 4.04bn | NOK 2.67bn | NOK 1.29bn | NOK 2.80bn | NOK 2.96bn | NOK 2.45bn |
| Debt | NOK 109.0m | NOK 138.0m | NOK 145.0m | NOK 232.0m | NOK 336.0m | NOK 358.0m | NOK 645.0m | NOK 548.0m |
| Shareholders' equity | NOK 2.55bn | NOK 3.60bn | NOK 3.68bn | NOK 3.01bn | NOK 2.47bn | NOK 3.27bn | NOK 3.30bn | NOK 2.86bn |
Financial ratios
Data as of 24 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 4.5% | 3.9% | 3.3% | 3.9% | 3.6% | 3.2% | — |
| Net margin | 3.6% | 3.0% | 2.5% | 2.8% | 2.5% | 2.4% | — |
| Return on equity | 42.2% | 38.2% | 35.0% | 36.7% | 33.6% | 32.4% | — |
| Return on assets | 7.9% | 6.7% | 5.9% | 6.2% | 5.5% | 5.3% | — |
| Free cash flow yield | — | 9.3% | 13.0% | 7.5% | 12.7% | 10.9% | 2.9% |
| Revenue growth | 4.0% | -4.0% | 11.6% | 2.8% | -1.4% | 4.5% | — |
| Earnings growth | 23.2% | 18.0% | -2.1% | 14.0% | 3.8% | 104.7% | — |
| Current ratio | 0.84x | 0.82x | 0.86x | 0.87x | 0.99x | 0.95x | — |
| Debt to equity | 0.04x | 0.20x | 0.27x | 0.24x | 0.37x | 0.38x | — |
| Equity ratio | 18.7% | 17.6% | 16.8% | 16.8% | 16.4% | 16.3% | — |
| Interest coverage | 102.74x | 17.07x | 17.40x | 22.18x | 20.67x | 25.81x | — |
| Buybacks as a share of market value | — | 0.8% | -0.0% | -25.8% | 20.3% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.6% | 2.4% | 6.0% |
| Operating income | 9.0% | 10.0% | 7.5% |
| Net income | 12.5% | 11.0% | 7.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 4.2% | 3.9% | 3.7% | 3.5% |
| Net margin | 3.3% | 3.0% | 2.8% | 2.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 15.5 | 15.2 | 12.9 | 12.0 | 14.9 | 16.2 | 35.8 | 24.2 | 11.5 | 18.8 |
| Price to sales | 0.6 | 0.5 | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 7 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 11.25 | 9.00 | 7.90 | 7.75 | 7.00 | 5.75 | 2.50 | 5.00 |
- 5-for-1 split · 9 May 2007
- 2.038-for-1 split · 27 Mar 2000
- 2-for-1 split · 29 Apr 1998
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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