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NORBIT ASA (NORBT.OL) Stock Fundamental Analysis

OSL:NORBT - Euronext Oslo - NO0010856511 - Common Stock - Currency: NOK

110  +1 (+0.92%)

Fundamental Rating

8

Overall NORBT gets a fundamental rating of 8 out of 10. We evaluated NORBT against 49 industry peers in the Electronic Equipment, Instruments & Components industry. Both the health and profitability get an excellent rating, making NORBT a very profitable company, without any liquidiy or solvency issues. NORBT is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one! These ratings would make NORBT suitable for growth and quality investing!


Dividend Valuation Growth Profitability Health

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9

1. Profitability

1.1 Basic Checks

NORBT had positive earnings in the past year.
NORBT had a positive operating cash flow in the past year.
NORBT had positive earnings in each of the past 5 years.
NORBT had a positive operating cash flow in each of the past 5 years.
NORBT.OL Yearly Net Income VS EBIT VS OCF VS FCFNORBT.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M

1.2 Ratios

NORBT's Return On Assets of 11.13% is amongst the best of the industry. NORBT outperforms 95.92% of its industry peers.
Looking at the Return On Equity, with a value of 21.02%, NORBT belongs to the top of the industry, outperforming 93.88% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 15.32%, NORBT belongs to the top of the industry, outperforming 93.88% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for NORBT is significantly above the industry average of 7.79%.
Industry RankSector Rank
ROA 11.13%
ROE 21.02%
ROIC 15.32%
ROA(3y)10.75%
ROA(5y)8.24%
ROE(3y)20.73%
ROE(5y)15.61%
ROIC(3y)17.33%
ROIC(5y)13.48%
NORBT.OL Yearly ROA, ROE, ROICNORBT.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

NORBT has a Profit Margin of 13.89%. This is amongst the best in the industry. NORBT outperforms 97.96% of its industry peers.
NORBT's Profit Margin has improved in the last couple of years.
The Operating Margin of NORBT (19.70%) is better than 95.92% of its industry peers.
In the last couple of years the Operating Margin of NORBT has grown nicely.
NORBT's Gross Margin of 59.76% is fine compared to the rest of the industry. NORBT outperforms 77.55% of its industry peers.
In the last couple of years the Gross Margin of NORBT has grown nicely.
Industry RankSector Rank
OM 19.7%
PM (TTM) 13.89%
GM 59.76%
OM growth 3Y29.01%
OM growth 5Y7.42%
PM growth 3Y31.71%
PM growth 5Y3.74%
GM growth 3Y3.52%
GM growth 5Y1.89%
NORBT.OL Yearly Profit, Operating, Gross MarginsNORBT.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 10 20 30 40 50

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7

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), NORBT is creating value.
NORBT has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, NORBT has more shares outstanding
The debt/assets ratio for NORBT is higher compared to a year ago.
NORBT.OL Yearly Shares OutstandingNORBT.OL Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
NORBT.OL Yearly Total Debt VS Total AssetsNORBT.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

An Altman-Z score of 6.02 indicates that NORBT is not in any danger for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 6.02, NORBT belongs to the top of the industry, outperforming 89.80% of the companies in the same industry.
The Debt to FCF ratio of NORBT is 1.89, which is an excellent value as it means it would take NORBT, only 1.89 years of fcf income to pay off all of its debts.
NORBT has a Debt to FCF ratio of 1.89. This is amongst the best in the industry. NORBT outperforms 83.67% of its industry peers.
A Debt/Equity ratio of 0.45 indicates that NORBT is not too dependend on debt financing.
NORBT has a Debt to Equity ratio (0.45) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.45
Debt/FCF 1.89
Altman-Z 6.02
ROIC/WACC1.85
WACC8.27%
NORBT.OL Yearly LT Debt VS Equity VS FCFNORBT.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M 1B

2.3 Liquidity

A Current Ratio of 2.03 indicates that NORBT has no problem at all paying its short term obligations.
NORBT has a better Current ratio (2.03) than 69.39% of its industry peers.
A Quick Ratio of 1.12 indicates that NORBT should not have too much problems paying its short term obligations.
The Quick ratio of NORBT (1.12) is better than 63.27% of its industry peers.
Industry RankSector Rank
Current Ratio 2.03
Quick Ratio 1.12
NORBT.OL Yearly Current Assets VS Current LiabilitesNORBT.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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9

3. Growth

3.1 Past

NORBT shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 25.71%, which is quite impressive.
NORBT shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 22.16% yearly.
Looking at the last year, NORBT shows a quite strong growth in Revenue. The Revenue has grown by 15.30% in the last year.
Measured over the past years, NORBT shows a very strong growth in Revenue. The Revenue has been growing by 21.25% on average per year.
EPS 1Y (TTM)25.71%
EPS 3Y67.73%
EPS 5Y22.16%
EPS Q2Q%132.47%
Revenue 1Y (TTM)15.3%
Revenue growth 3Y30.51%
Revenue growth 5Y21.25%
Sales Q2Q%40.43%

3.2 Future

Based on estimates for the next years, NORBT will show a very strong growth in Earnings Per Share. The EPS will grow by 26.68% on average per year.
NORBT is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 17.89% yearly.
EPS Next Y45.55%
EPS Next 2Y30.62%
EPS Next 3Y26.68%
EPS Next 5YN/A
Revenue Next Year27.76%
Revenue Next 2Y20.43%
Revenue Next 3Y17.89%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
NORBT.OL Yearly Revenue VS EstimatesNORBT.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B 2.5B
NORBT.OL Yearly EPS VS EstimatesNORBT.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6 8

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5

4. Valuation

4.1 Price/Earnings Ratio

NORBT is valuated quite expensively with a Price/Earnings ratio of 28.13.
63.27% of the companies in the same industry are more expensive than NORBT, based on the Price/Earnings ratio.
NORBT is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 29.35, which is the current average of the S&P500 Index.
NORBT is valuated rather expensively with a Price/Forward Earnings ratio of 18.67.
NORBT's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of NORBT to the average of the S&P500 Index (22.10), we can say NORBT is valued inline with the index average.
Industry RankSector Rank
PE 28.13
Fwd PE 18.67
NORBT.OL Price Earnings VS Forward Price EarningsNORBT.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NORBT is on the same level as its industry peers.
NORBT's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 24.49
EV/EBITDA 15.42
NORBT.OL Per share dataNORBT.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The excellent profitability rating of NORBT may justify a higher PE ratio.
NORBT's earnings are expected to grow with 26.68% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.62
PEG (5Y)1.27
EPS Next 2Y30.62%
EPS Next 3Y26.68%

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4

5. Dividend

5.1 Amount

NORBT has a Yearly Dividend Yield of 2.75%. Purely for dividend investing, there may be better candidates out there.
NORBT's Dividend Yield is a higher than the industry average which is at 3.31.
Compared to an average S&P500 Dividend Yield of 2.33, NORBT has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.75%

5.2 History

The dividend of NORBT has a limited annual growth rate of 5.27%.
Dividend Growth(5Y)5.27%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

62.84% of the earnings are spent on dividend by NORBT. This is not a sustainable payout ratio.
NORBT's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP62.84%
EPS Next 2Y30.62%
EPS Next 3Y26.68%
NORBT.OL Yearly Income VS Free CF VS DividendNORBT.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2018 2019 2020 2021 2022 2023 2024 0 100M 200M
NORBT.OL Dividend Payout.NORBT.OL Dividend Payout, showing the Payout Ratio.NORBT.OL Dividend Payout.PayoutRetained Earnings

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NORBIT ASA

OSL:NORBT (3/7/2025, 7:00:00 PM)

110

+1 (+0.92%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)11-14 2024-11-14/bmo
Earnings (Next)N/A N/A
Inst Owners18.24%
Inst Owner ChangeN/A
Ins Owners2.28%
Ins Owner ChangeN/A
Market Cap7.01B
Analysts84
Price Target137.7 (25.18%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.75%
Yearly Dividend2.47
Dividend Growth(5Y)5.27%
DP62.84%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-8.8%
Min Revenue beat(2)-15.14%
Max Revenue beat(2)-2.46%
Revenue beat(4)1
Avg Revenue beat(4)-4.41%
Min Revenue beat(4)-15.14%
Max Revenue beat(4)1.42%
Revenue beat(8)3
Avg Revenue beat(8)0%
Revenue beat(12)6
Avg Revenue beat(12)1.75%
Revenue beat(16)8
Avg Revenue beat(16)0.91%
PT rev (1m)17.39%
PT rev (3m)17.39%
EPS NQ rev (1m)0%
EPS NQ rev (3m)10.39%
EPS NY rev (1m)5.44%
EPS NY rev (3m)-0.35%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)1.1%
Revenue NY rev (3m)-0.95%
Valuation
Industry RankSector Rank
PE 28.13
Fwd PE 18.67
P/S 4
P/FCF 24.49
P/OCF 16.27
P/B 6.06
P/tB 29.1
EV/EBITDA 15.42
EPS(TTM)3.91
EY3.55%
EPS(NY)5.89
Fwd EY5.36%
FCF(TTM)4.49
FCFY4.08%
OCF(TTM)6.76
OCFY6.14%
SpS27.47
BVpS18.15
TBVpS3.78
PEG (NY)0.62
PEG (5Y)1.27
Profitability
Industry RankSector Rank
ROA 11.13%
ROE 21.02%
ROCE 20.19%
ROIC 15.32%
ROICexc 17.27%
ROICexgc 43.7%
OM 19.7%
PM (TTM) 13.89%
GM 59.76%
FCFM 16.35%
ROA(3y)10.75%
ROA(5y)8.24%
ROE(3y)20.73%
ROE(5y)15.61%
ROIC(3y)17.33%
ROIC(5y)13.48%
ROICexc(3y)18.7%
ROICexc(5y)14.35%
ROICexgc(3y)38.4%
ROICexgc(5y)28.67%
ROCE(3y)22.85%
ROCE(5y)17.76%
ROICexcg growth 3Y38.94%
ROICexcg growth 5Y14.4%
ROICexc growth 3Y27.69%
ROICexc growth 5Y2.09%
OM growth 3Y29.01%
OM growth 5Y7.42%
PM growth 3Y31.71%
PM growth 5Y3.74%
GM growth 3Y3.52%
GM growth 5Y1.89%
F-Score5
Asset Turnover0.8
Health
Industry RankSector Rank
Debt/Equity 0.45
Debt/FCF 1.89
Debt/EBITDA 1.09
Cap/Depr 109.3%
Cap/Sales 8.26%
Interest Coverage 250
Cash Conversion 90.28%
Profit Quality 117.67%
Current Ratio 2.03
Quick Ratio 1.12
Altman-Z 6.02
F-Score5
WACC8.27%
ROIC/WACC1.85
Cap/Depr(3y)104.85%
Cap/Depr(5y)141.79%
Cap/Sales(3y)7.72%
Cap/Sales(5y)11.08%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)25.71%
EPS 3Y67.73%
EPS 5Y22.16%
EPS Q2Q%132.47%
EPS Next Y45.55%
EPS Next 2Y30.62%
EPS Next 3Y26.68%
EPS Next 5YN/A
Revenue 1Y (TTM)15.3%
Revenue growth 3Y30.51%
Revenue growth 5Y21.25%
Sales Q2Q%40.43%
Revenue Next Year27.76%
Revenue Next 2Y20.43%
Revenue Next 3Y17.89%
Revenue Next 5YN/A
EBIT growth 1Y21.44%
EBIT growth 3Y68.37%
EBIT growth 5Y30.25%
EBIT Next Year83.91%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y19.64%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y24.61%
OCF growth 3Y108.27%
OCF growth 5Y59.9%