Fortnox AB (publ)

OM:FNOX Stock Report

Market Cap: SEK 52.8b

Fortnox Future Growth

Future criteria checks 5/6

Fortnox is forecast to grow earnings and revenue by 23.1% and 19.2% per annum respectively. EPS is expected to grow by 22% per annum. Return on equity is forecast to be 28.5% in 3 years.

Key information

23.1%

Earnings growth rate

22.0%

EPS growth rate

Software earnings growth36.0%
Revenue growth rate19.2%
Future return on equity28.5%
Analyst coverage

Good

Last updated31 Mar 2025

Recent future growth updates

Analyst Estimates: Here's What Brokers Think Of Fortnox AB (publ) (STO:FNOX) After Its Yearly Report

Feb 16
Analyst Estimates: Here's What Brokers Think Of Fortnox AB (publ) (STO:FNOX) After Its Yearly Report

Analyst Estimates: Here's What Brokers Think Of Fortnox AB (publ) (STO:FNOX) After Its Third-Quarter Report

Oct 27
Analyst Estimates: Here's What Brokers Think Of Fortnox AB (publ) (STO:FNOX) After Its Third-Quarter Report

Recent updates

Fortnox (STO:FNOX) May Have Issues Allocating Its Capital

Mar 11
Fortnox (STO:FNOX) May Have Issues Allocating Its Capital

Analyst Estimates: Here's What Brokers Think Of Fortnox AB (publ) (STO:FNOX) After Its Yearly Report

Feb 16
Analyst Estimates: Here's What Brokers Think Of Fortnox AB (publ) (STO:FNOX) After Its Yearly Report
author-image

Leading the Charge in SME SaaS Innovation

Jan 23A Market Leader Driving Innovation and Growth in Business SolutionsFortnox AB is a standout player in the SaaS (Software-as-a-Service) space, providing cloud-based solutions tailored to small and medi

A Look At The Fair Value Of Fortnox AB (publ) (STO:FNOX)

Dec 30
A Look At The Fair Value Of Fortnox AB (publ) (STO:FNOX)
author-image

AI-Driven Insights And Payment Solutions To Accelerate Growth And Strengthen Profit Margins

Dec 22 Increased automation and new features have enhanced operational efficiency and are likely to boost revenue growth and net margins.

Fortnox AB (publ)'s (STO:FNOX) Shares May Have Run Too Fast Too Soon

Dec 16
Fortnox AB (publ)'s (STO:FNOX) Shares May Have Run Too Fast Too Soon

Is It Too Late To Consider Buying Fortnox AB (publ) (STO:FNOX)?

Nov 14
Is It Too Late To Consider Buying Fortnox AB (publ) (STO:FNOX)?

Analyst Estimates: Here's What Brokers Think Of Fortnox AB (publ) (STO:FNOX) After Its Third-Quarter Report

Oct 27
Analyst Estimates: Here's What Brokers Think Of Fortnox AB (publ) (STO:FNOX) After Its Third-Quarter Report

Fortnox AB (publ)'s (STO:FNOX) Earnings Haven't Escaped The Attention Of Investors

Jun 12
Fortnox AB (publ)'s (STO:FNOX) Earnings Haven't Escaped The Attention Of Investors

Fortnox AB (publ) (STO:FNOX) Shares Could Be 27% Above Their Intrinsic Value Estimate

Apr 09
Fortnox AB (publ) (STO:FNOX) Shares Could Be 27% Above Their Intrinsic Value Estimate

Earnings and Revenue Growth Forecasts

OM:FNOX - Analysts future estimates and past financials data (SEK Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20273,6881,4371,2751,6724
12/31/20263,0251,1299721,3207
12/31/20252,4728867851,1557
12/31/20242,044710542751N/A
9/30/20241,955690609820N/A
6/30/20241,849650398598N/A
3/31/20241,739613368546N/A
12/31/20231,642570480646N/A
9/30/20231,548476364525N/A
6/30/20231,465439424581N/A
3/31/20231,368386341492N/A
12/31/20221,276347302441N/A
9/30/20221,186315270400N/A
6/30/20221,089282260386N/A
3/31/20221,011262207320N/A
12/31/2021932241216316N/A
9/30/2021853232241333N/A
6/30/2021792216180280N/A
3/31/2021732210242342N/A
12/31/2020694205178274N/A
9/30/2020659188169258N/A
6/30/2020621168162228N/A
3/31/2020579151122173N/A
12/31/2019532135149196N/A
9/30/2019491122118157N/A
6/30/2019454104124160N/A
3/31/20194209093129N/A
12/31/20183747881115N/A
9/30/201836465N/A97N/A
6/30/201833758N/A94N/A
3/31/201831151N/A79N/A
12/31/201729049N/A92N/A
9/30/201726549N/A77N/A
6/30/201724344N/A56N/A
3/31/201722640N/A68N/A
12/31/201620333N/A49N/A
9/30/201618930N/A53N/A
6/30/201617224N/A65N/A
3/31/201615622N/A53N/A
12/31/201514519N/A54N/A
9/30/201513214N/A39N/A
6/30/201512313N/A33N/A
3/31/201511412N/A24N/A
12/31/201410512N/A23N/A
9/30/20149611N/A23N/A
6/30/2014887N/A20N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: FNOX's forecast earnings growth (23.1% per year) is above the savings rate (1.3%).

Earnings vs Market: FNOX's earnings (23.1% per year) are forecast to grow faster than the Swedish market (9.3% per year).

High Growth Earnings: FNOX's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FNOX's revenue (19.2% per year) is forecast to grow faster than the Swedish market (0.8% per year).

High Growth Revenue: FNOX's revenue (19.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: FNOX's Return on Equity is forecast to be high in 3 years time (28.5%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/04/03 17:19
End of Day Share Price 2025/04/03 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Fortnox AB (publ) is covered by 14 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Simon GranathABG Sundal Collier Sponsored
Victor ChengBofA Global Research