Tomra Systems Future Growth
Future criteria checks 5/6
Tomra Systems is forecast to grow earnings and revenue by 37.4% and 11.4% per annum respectively. EPS is expected to grow by 40.3% per annum. Return on equity is forecast to be 25.4% in 3 years.
Key information
37.4%
Earnings growth rate
40.31%
EPS growth rate
| Machinery earnings growth | 24.1% |
| Revenue growth rate | 11.4% |
| Future return on equity | 25.38% |
| Analyst coverage | Good |
| Last updated | 08 Sep 2026 |
Recent future growth updates
Recent updates
Narrative Update • Sep 03
TOM: Deposit Return Rollout And Margin Outlook Will Shape Fairly Balanced Upside
Analysts have lifted their fair value price target for Tomra Systems from about NOK 85.51 to roughly NOK 105.14, supported by updated assumptions on discount rate, revenue growth, profit margins, and future P/E. Recent Street research, such as the Barclays move to NOK 120, provides additional context on how the stock is being valued today.
New Narrative • Aug 29
Why Tomra is a great catch right now!
Tomra Systems ASA is a Norwegian based industrial machinery Maker which get most of its revenues from Machines and sensors of collection (56%), food (25%) and recycling waste materials (17%) with a total 2025 net revenue of €1318 M (€1,318 B). Now the company is set to benefit from PPWR, which is The European Union's Packaging Waste Regulation (PPWR) that became mandatory on August 12, 2026, setting strict new sustainability, labeling, and reduction standards for all packaging of the EU countries.
New Narrative • Aug 25
TOMRA: a market leader at a discount
Republishing Note This article was originally published on Risberg Capital on Substack on the 3rd of June 2026 and is republished here for wider distribution. Investment summary TOMRA (OSE:TOM) is a world-leading company within reverse vending machines and sensor-based sorting, where sensors are used to identify and separate materials based on properties such as colour, density, or chemical composition.
Narrative Update • Aug 17
TOM: UK Deposit Scheme Contract Will Support Future Upside Potential
Analysts have trimmed their price target for Tomra Systems to NOK 120 from NOK 150, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News for Tomra Systems Tomra Systems ASA has been appointed supplier of about 1,200 reverse vending machines to a leading international retail chain in the UK, with deliveries planned to start in the first half of 2027.Analysis Article • Jul 25
Tomra Systems' (OB:TOM) Soft Earnings Don't Show The Whole Picture
Tomra Systems ASA's ( OB:TOM ) recent soft profit numbers didn't appear to worry shareholders, as the stock price...Narrative Update • Jun 17
TOM: Higher Discount Rate And Lower Future P/E Will Pressure Outlook
Analysts have lowered their price target for Tomra Systems to NOK 85.51 from NOK 108.41, citing updates to fair value assumptions, a slightly higher discount rate, more moderate revenue growth expectations, a modestly higher profit margin, and a reduced future P/E multiple. What’s in the News for Tomra Systems Tomra Systems received a letter of intent to supply about 2,700 reverse vending machines to a retail chain in the UK on a sales and service basis.Narrative Update • Jun 02
TOM: UK Deposit Scheme Rollout Will Support Further Upside Potential
Analysts have trimmed their price target on Tomra Systems from NOK148.03 to NOK133.61. This reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E levels.
Narrative Update • May 18
TOM: Refined Pricing Assumptions Will Support Future Re Rating Potential
Analysts have nudged their price target on Tomra Systems slightly lower to NOK189.30 from NOK189.87, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. Valuation Changes Fair Value: NOK189.30 is slightly lower than the previous NOK189.87 estimate.Narrative Update • May 02
TOM: Higher Risk Assumptions Will Support Future Re Rating Potential
Analysts have trimmed their price target for Tomra Systems to around NOK 190 from about NOK 194, reflecting updated assumptions for slightly lower revenue growth and profit margins, along with a modestly higher discount rate, partially offset by a higher future P/E multiple. Valuation Changes Fair Value: Adjusted from NOK 193.78 to NOK 189.87, representing a small reduction in the central estimate.Narrative Update • Apr 17
TOM: Modest P/E Adjustment Will Still Support Further Upside Potential
Analysts now set a slightly lower price target for Tomra Systems at about NOK 148, compared with roughly NOK 150 previously. This change reflects updated assumptions for the discount rate, revenue growth, profit margins and future P/E expectations.Narrative Update • Apr 03
TOM: Higher Risk Assumptions Will Support Re Rating Potential
Analysts have adjusted their price target for Tomra Systems to NOK 193.78, down from NOK 198.37, citing updated assumptions that include a higher discount rate, a different profit margin outlook, a revised revenue growth view, and a higher future P/E multiple. Valuation Changes Fair Value: NOK 193.78, reduced slightly from NOK 198.37.Narrative Update • Mar 19
TOM: Slightly Higher Discount Rate And P/E Will Shape Balanced Outlook
Analysts have trimmed their Tomra Systems price target by roughly NOK 1 to about NOK 108, reflecting updated assumptions around slightly higher discount rates, more moderate revenue growth, marginally stronger profit margins and a higher future P/E multiple. Valuation Changes Fair Value: NOK 109.88 has been adjusted slightly to around NOK 108.41.Narrative Update • Mar 05
TOM: Slightly Higher Future P/E Multiple Will Support Further Upside Ahead
Analysts have modestly adjusted their price target on Tomra Systems to NOK150.25, reflecting small tweaks to assumptions around the discount rate, long term revenue growth, profit margins and future P/E multiples. Valuation Changes Fair Value: NOK150.25 is unchanged, with no adjustment to the overall equity value estimate.Narrative Update • Feb 19
TOM: Higher Future P E Multiple Will Support Further Upside Ahead
Analysts have slightly lowered their price target on Tomra Systems to NOK 150.25 from NOK 150.96, citing updated assumptions for revenue growth, profit margins, and a higher expected future P/E multiple. Valuation Changes Fair Value: NOK 150.25, down slightly from NOK 150.96, reflecting modestly updated model inputs.Narrative Update • Feb 05
TOM: Higher Discount Rate And Lower P/E Will Pressure Future Upside
Analysts have trimmed their fair value estimate for Tomra Systems from NOK 128.16 to NOK 109.88, citing updated assumptions that combine a higher discount rate and lower future P/E with slightly adjusted expectations for revenue growth and profit margins. Valuation Changes Fair value estimate reduced from NOK 128.16 to NOK 109.88, reflecting the updated input assumptions.Narrative Update • Jan 21
TOM: Poland Rollout And Index Inclusion Will Support Further Upside Ahead
Narrative Update The analyst price target for Tomra Systems has been adjusted slightly lower to reflect a fair value move from NOK 154.14 to NOK 150.96, with analysts pointing to modestly updated assumptions on discount rate, revenue growth, profit margin and future P/E as the key drivers. Valuation Changes Fair Value: Analyst fair value estimate eased slightly from NOK 154.14 to NOK 150.96.Analysis Article • Jan 15
These 4 Measures Indicate That Tomra Systems (OB:TOM) Is Using Debt Reasonably Well
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...Narrative Update • Jan 07
TOM: Poland Rollout And Buy Upgrade Will Support Re Rating
Analysts have trimmed their fair value estimate for Tomra Systems from NOK 211.29 to NOK 198.37, reflecting updated views on growth, margins and future P/E multiples after recent research that includes both a lower NOK 135 target from Jefferies and a NOK 155 target alongside an upgrade to Buy. Analyst Commentary Bullish analysts are highlighting select positives in the recent research, even as views differ on near term risks and valuation.Analysis Article • Dec 16
Should You Think About Buying Tomra Systems ASA (OB:TOM) Now?
While Tomra Systems ASA ( OB:TOM ) might not have the largest market cap around , it saw a double-digit share price...Narrative Update • Dec 13
TOM: Poland Rollout And Index Inclusion Will Support Upside Ahead
Analysts have modestly raised their fair value estimate for Tomra Systems to approximately NOK 154 from about NOK 150, reflecting a slightly lower discount rate, improved long term margin expectations, and a still supportive but somewhat lower future earnings multiple despite mixed recent Street price target revisions. Analyst Commentary Street research on Tomra Systems has turned more mixed, with some bullish analysts growing more constructive on the risk reward while others remain cautious on execution and end market headwinds.Narrative Update • Nov 29
TOM: Poland Market Entry Will Drive Upside Amid Competitive Headwinds Ahead
Analysts have revised Tomra Systems' price target downward from NOK 155 to NOK 135. This change reflects concerns about persistent rollout challenges in deposit return systems, rising competition, and continued softness in the recycling segment.Narrative Update • Nov 15
TOM: Expansion In Poland Will Drive Long-Term Upside Amid Industry Shifts
Analysts have revised Tomra Systems' fair value estimate downward from NOK 155.33 to NOK 149.56. They cite subdued earnings momentum and ongoing structural headwinds highlighted in recent research notes.Analysis Article • Nov 05
What Tomra Systems ASA's (OB:TOM) P/E Is Not Telling You
When close to half the companies in Norway have price-to-earnings ratios (or "P/E's") below 12x, you may consider Tomra...Narrative Update • Nov 01
TOM: Order Win And Index Inclusion Will Support Near-Term Market Recovery
Analysts have revised Tomra Systems' fair value estimate downward from NOK 163.26 to NOK 155.33 per share, citing ongoing competitive pressures, market rollout risks, and subdued earnings momentum as key drivers of this change. Analyst Commentary Recent analyst updates highlight a range of perspectives on Tomra Systems' outlook, focusing on both positive catalysts and ongoing challenges that could impact the company's performance and valuation.Narrative Update • Oct 18
Deposit Systems And EU Mandates Will Expand Circular Economy Markets
Analysts have lowered their price target for Tomra Systems from kr174.98 to kr163.26, citing slightly reduced expectations for revenue growth and profit margin in their updated forecasts. What's in the News TOMRA has secured an order for 3,000 reverse vending machines to be delivered to Dino Polska, a major Polish retailer.Analysis Article • Aug 21
Is It Too Late To Consider Buying Tomra Systems ASA (OB:TOM)?
OB:TOM 1 Year Share Price vs Fair Value Explore Tomra Systems's Fair Values from the Community and select yours While...Analysis Article • Jun 25
Tomra Systems (OB:TOM) Has More To Do To Multiply In Value Going Forward
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • Jun 10
Shareholders Should Be Pleased With Tomra Systems ASA's (OB:TOM) Price
With a price-to-earnings (or "P/E") ratio of 40.6x Tomra Systems ASA ( OB:TOM ) may be sending very bearish signals at...Analysis Article • May 26
Is Tomra Systems (OB:TOM) Using Too Much Debt?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...Analysis Article • Apr 30
Here's Why Tomra Systems ASA's (OB:TOM) CEO May Not Expect A Pay Rise This Year
Key Insights Tomra Systems to hold its Annual General Meeting on 6th of May Total pay for CEO Tove Andersen includes...Analysis Article • Apr 07
Is Now An Opportune Moment To Examine Tomra Systems ASA (OB:TOM)?
While Tomra Systems ASA ( OB:TOM ) might not have the largest market cap around , it received a lot of attention from a...Analysis Article • Feb 19
Earnings Update: Here's Why Analysts Just Lifted Their Tomra Systems ASA (OB:TOM) Price Target To kr171
It's been a pretty great week for Tomra Systems ASA ( OB:TOM ) shareholders, with its shares surging 12% to kr187 in...Analysis Article • Feb 08
Getting In Cheap On Tomra Systems ASA (OB:TOM) Might Be Difficult
Tomra Systems ASA's ( OB:TOM ) price-to-sales (or "P/S") ratio of 3.3x may look like a poor investment opportunity when...Analysis Article • Jan 19
We Think Tomra Systems (OB:TOM) Is Taking Some Risk With Its Debt
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
New Narrative • Dec 20
Deposit Return Schemes And Autosort PULSE Innovations Poised To Propel Growth And Boost Profitability
Restructuring in the Food division and strong backlog orders are set to enhance profitability, drive growth, and increase future revenue.Analysis Article • Dec 13
Is There Now An Opportunity In Tomra Systems ASA (OB:TOM)?
Tomra Systems ASA ( OB:TOM ), might not be a large cap stock, but it saw significant share price movement during recent...Analysis Article • Oct 29
Tomra Systems' (OB:TOM) Soft Earnings Don't Show The Whole Picture
Tomra Systems ASA's ( OB:TOM ) recent soft profit numbers didn't appear to worry shareholders, as the stock price...Analysis Article • Oct 17
Is Tomra Systems (OB:TOM) A Risky Investment?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Oct 03
Tomra Systems (OB:TOM) Will Be Hoping To Turn Its Returns On Capital Around
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...Analysis Article • Sep 20
A Look At The Fair Value Of Tomra Systems ASA (OB:TOM)
Key Insights Using the 2 Stage Free Cash Flow to Equity, Tomra Systems fair value estimate is kr192 Tomra Systems...Analysis Article • Aug 09
Is It Too Late To Consider Buying Tomra Systems ASA (OB:TOM)?
Tomra Systems ASA ( OB:TOM ), is not the largest company out there, but it received a lot of attention from a...Analysis Article • Jul 27
Tomra Systems ASA's (OB:TOM) 35% Price Boost Is Out Of Tune With Revenues
Tomra Systems ASA ( OB:TOM ) shareholders would be excited to see that the share price has had a great month, posting a...Analysis Article • Jul 11
We Think Tomra Systems (OB:TOM) Is Taking Some Risk With Its Debt
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Jun 10
Tomra Systems (OB:TOM) Is Reinvesting At Lower Rates Of Return
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 1,859 | 196 | 218 | 315 | 8 |
| 12/31/2027 | 1,760 | 183 | 170 | 272 | 8 |
| 12/31/2026 | 1,483 | 88 | 126 | 214 | 8 |
| 6/30/2026 | 1,426 | 83 | 54 | 186 | N/A |
| 3/31/2026 | 1,346 | 81 | 34 | 166 | N/A |
| 12/31/2025 | 1,318 | 93 | 39 | 171 | N/A |
| 9/30/2025 | 1,335 | 99 | 111 | 230 | N/A |
| 6/30/2025 | 1,356 | 105 | 146 | 265 | N/A |
| 3/31/2025 | 1,364 | 102 | 162 | 281 | N/A |
| 12/31/2024 | 1,348 | 94 | 117 | 236 | N/A |
| 9/30/2024 | 1,304 | 52 | 173 | 266 | N/A |
| 6/30/2024 | 1,285 | 48 | 49 | 142 | N/A |
| 3/31/2024 | 1,284 | 52 | 18 | 111 | N/A |
| 12/31/2023 | 1,288 | 60 | 44 | 137 | N/A |
| 9/30/2023 | 1,242 | 84 | -19 | 55 | N/A |
| 6/30/2023 | 1,193 | 92 | 36 | 107 | N/A |
| 3/31/2023 | 1,146 | 87 | 59 | 133 | N/A |
| 12/31/2022 | 1,162 | 98 | 30 | 110 | N/A |
| 9/30/2022 | 1,102 | 89 | 78 | 134 | N/A |
| 6/30/2022 | 1,113 | 100 | 107 | 165 | N/A |
| 3/31/2022 | 1,142 | 115 | 111 | 172 | N/A |
| 12/31/2021 | 1,088 | 109 | 118 | 177 | N/A |
| 9/30/2021 | 1,047 | 109 | 141 | 202 | N/A |
| 6/30/2021 | 1,008 | 103 | 124 | 184 | N/A |
| 3/31/2021 | 990 | 91 | 110 | 171 | N/A |
| 12/31/2020 | 949 | 74 | 105 | 163 | N/A |
| 9/30/2020 | 893 | 68 | 72 | 130 | N/A |
| 6/30/2020 | 885 | 62 | 73 | 132 | N/A |
| 3/31/2020 | 835 | 60 | N/A | 118 | N/A |
| 12/31/2019 | 949 | 84 | N/A | 133 | N/A |
| 9/30/2019 | 932 | 80 | N/A | 107 | N/A |
| 6/30/2019 | 939 | 82 | N/A | 109 | N/A |
| 3/31/2019 | 922 | 80 | N/A | 117 | N/A |
| 12/31/2018 | 868 | 75 | N/A | 103 | N/A |
| 9/30/2018 | 865 | 70 | N/A | 110 | N/A |
| 6/30/2018 | 818 | 62 | N/A | 103 | N/A |
| 3/31/2018 | 788 | 62 | N/A | 106 | N/A |
| 12/31/2017 | 754 | 62 | N/A | 104 | N/A |
| 9/30/2017 | 760 | 69 | N/A | 112 | N/A |
| 6/30/2017 | 736 | 72 | N/A | 108 | N/A |
| 3/31/2017 | 744 | 77 | N/A | 120 | N/A |
| 12/31/2016 | 727 | 77 | N/A | 120 | N/A |
| 9/30/2016 | 741 | 84 | N/A | 117 | N/A |
| 6/30/2016 | 720 | 77 | N/A | 117 | N/A |
| 3/31/2016 | 680 | 68 | N/A | 104 | N/A |
| 12/31/2015 | 639 | 63 | N/A | 95 | N/A |
| 9/30/2015 | 601 | 57 | N/A | 93 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TOM's forecast earnings growth (37.4% per year) is above the savings rate (3.4%).
Earnings vs Market: TOM's earnings (37.4% per year) are forecast to grow faster than the Norwegian market (7.6% per year).
High Growth Earnings: TOM's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: TOM's revenue (11.4% per year) is forecast to grow faster than the Norwegian market (0.8% per year).
High Growth Revenue: TOM's revenue (11.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TOM's Return on Equity is forecast to be high in 3 years time (25.4%)
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/14 16:45 |
| End of Day Share Price | 2026/09/14 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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
Tomra Systems ASA is covered by 19 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Gaurav Jain | Barclays |
| Pallav Mittal | Barclays |