Price Target Changed • Jul 09
Price target increased by 9.3% to kr188 Up from kr172, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of kr191. Stock is up 14% over the past year. The company is forecast to post earnings per share of kr11.38 for next year compared to kr11.50 last year. Live News • Jun 12
Veidekke Lands NOK 1.5 Billion in New Scandinavian Road Maintenance Contracts Veidekke has secured new road maintenance contracts with a total value of NOK 1.5b.
The contracts relate to the company’s infrastructure operations, which are a core part of its business.
The agreements strengthen Veidekke’s position in the Scandinavian construction and infrastructure market, according to recent reports.
A contract win of NOK 1.5b in road maintenance points to solid order visibility for this part of the business, especially given its link to core infrastructure operations.
You may want to watch how efficiently Veidekke executes on these contracts, as margins and cash flow from long-term maintenance work can be sensitive to cost control and contract terms. Upcoming Dividend • Apr 30
Upcoming dividend of kr11.25 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 20 May 2026. Payout ratio is on the higher end at 98%, however this is supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Norwegian dividend payers (7.3%). Higher than average of industry peers (5.3%). Price Target Changed • Apr 30
Price target increased by 8.6% to kr186 Up from kr172, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of kr187. Stock is up 19% over the past year. The company is forecast to post earnings per share of kr11.14 for next year compared to kr11.50 last year. Reported Earnings • Feb 16
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: kr11.50 (up from kr9.34 in FY 2024). Revenue: kr43.1b (up 4.2% from FY 2024). Net income: kr1.55b (up 23% from FY 2024). Profit margin: 3.6% (up from 3.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Feb 15
Dividend increased to kr11.25 Dividend of kr11.25 is 25% higher than last year. Ex-date: 7th May 2026 Payment date: 20th May 2026 Dividend yield will be 6.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is covered by cash flows (66% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share is expected to grow by 21% over the next 3 years, which should maintain adequate earnings cover for the dividend. Announcement • Feb 12
Veidekke ASA Proposes Dividend , Payable on May 20, 2026 Veidekke ASA decided to propose payment of cash dividend of NOK 11.25 per share for the financial year 2025. The proposal will be considered at the annual general meeting on 6 May 2026. Dividend amount: 11.25 per share, Declared currency: Norwegian Krone, Last day including rights: 6 May 2026, Ex-date: 7 May 2026, Record date: 8 May 2026, Payment date: 20 May 2026, Date of approval: 6 May 2026. Price Target Changed • Jan 07
Price target increased by 11% to kr177 Up from kr160, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of kr181. Stock is up 29% over the past year. The company is forecast to post earnings per share of kr10.42 for next year compared to kr9.34 last year. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: kr4.00 (vs kr3.40 in 3Q 2024) Third quarter 2025 results: EPS: kr4.00 (up from kr3.40 in 3Q 2024). Revenue: kr10.7b (up 10% from 3Q 2024). Net income: kr546.0m (up 17% from 3Q 2024). Profit margin: 5.1% (up from 4.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 23
Veidekke ASA, Annual General Meeting, May 06, 2026 Veidekke ASA, Annual General Meeting, May 06, 2026. Announcement • Aug 23
Veidekke ASA Announces Executive Changes, Effective January 1, 2026 On 1 January 2026, Anders Haugen (41) will be appointed executive vice president of Veidekke Infrastructure Norway and will thus also become part of Veidekke's corporate management team. Haugen succeeds Øivind Larsen (61), who after eight years will take on a new role at Veidekke, focusing on large infrastructure projects. Anders Haugen joined Veidekke in 2008. He holds a Master of Science degree from NTNU (the Norwegian University of Science and Technology) and an MBA from NHH (the Norwegian School of Economics). Haugen joins from the position as manager for Veidekke's building operations in Oslo, a role he has held for over seven years. In 2024, he completed a General Management programme at Harvard Business School and has since been an active and important member of the team working on the new group strategy together with Veidekke's corporate management and board of directors. Anders Haugen will spend the remainder of the year getting to know the Infrastructure operations and the people behind them. Reported Earnings • Aug 14
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: kr2.90 (up from kr2.70 in 2Q 2024). Revenue: kr11.3b (up 5.1% from 2Q 2024). Net income: kr395.0m (up 10% from 2Q 2024). Profit margin: 3.5% (up from 3.3% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 09
First quarter 2025 earnings released: kr0.20 loss per share (vs kr0.10 profit in 1Q 2024) First quarter 2025 results: kr0.20 loss per share (down from kr0.10 profit in 1Q 2024). Revenue: kr9.04b (down 4.7% from 1Q 2024). Net loss: kr20.0m (down 322% from profit in 1Q 2024). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 13% per year. Buy Or Sell Opportunity • May 08
Now 26% undervalued Over the last 90 days, the stock has risen 1.1% to kr147. The fair value is estimated to be kr200, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 4.1% per annum over the same time period. Announcement • May 08
Veidekke ASA Approves Dividend in Respect of the 2024 Financial Year Veidekke ASA at its AGM held on 7 May 2025 approved a dividend of NOK 9.00 per share in respect of the 2024 financial year, distributable to the company's shareholders as at 7 May 2025. Upcoming Dividend • May 02
Upcoming dividend of kr9.00 per share Eligible shareholders must have bought the stock before 08 May 2025. Payment date: 21 May 2025. Payout ratio and cash payout ratio are on the higher end at 96% and 79% respectively. Trailing yield: 5.8%. Lower than top quartile of Norwegian dividend payers (9.0%). Higher than average of industry peers (4.8%). Reported Earnings • Mar 26
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: kr9.34 (up from kr7.92 in FY 2023). Revenue: kr41.4b (down 4.0% from FY 2023). Net income: kr1.26b (up 18% from FY 2023). Profit margin: 3.0% (up from 2.5% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.1%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Mar 25
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director Knut Opheim was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Feb 15
Dividend increased to kr9.00 Dividend of kr9.00 is 14% higher than last year. Ex-date: 8th May 2025 Payment date: 21st May 2025 Dividend yield will be 6.1%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio). However, it is covered by cash flows (69% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 7.5% to bring the payout ratio under control. EPS is expected to grow by 13% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Feb 14
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: kr9.30 (up from kr7.92 in FY 2023). Revenue: kr41.4b (down 4.0% from FY 2023). Net income: kr1.26b (up 18% from FY 2023). Profit margin: 3.0% (up from 2.5% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Feb 13
Veidekke ASA Proposes Cash Dividend for the Financial Year 2024, Payable on 21 May 2025 The board of directors of Veidekke ASA has 12 February 2025 decided to propose payment of cash dividend of NOK 9.00 per share for the financial year 2024. The proposal will be considered at the annual general meeting 7 May 2025. Ex-date: 8 May 2025. Record date: 9 May 2025. Payment date: 21 May 2025. Price Target Changed • Jan 09
Price target increased by 15% to kr155 Up from kr135, the current price target is provided by 1 analyst. New target price is 9.9% above last closing price of kr141. Stock is up 43% over the past year. The company is forecast to post earnings per share of kr9.50 for next year compared to kr7.92 last year. Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: kr3.40 (up from kr3.30 in 3Q 2023). Revenue: kr9.66b (down 7.0% from 3Q 2023). Net income: kr465.0m (up 5.4% from 3Q 2023). Profit margin: 4.8% (up from 4.2% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) exceeded analyst estimates by 4.0%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Oct 25
Veidekke Group Announces Management Changes After five years heading Veidekke's Swedish construction business, Charlotta Nilsén is now leaving the position. Martin Gadd (48) who has worked in various parts of the Veidekke Group since 2012 will assume the position. He comes from a role as responsible for "Special Units" within Veidekke's Norwegian Infrastructure business. Martin takes up his new role and will at the same time become a member of Veidekke's corporate management. Announcement • Sep 26
Veidekke ASA, Annual General Meeting, May 07, 2025 Veidekke ASA, Annual General Meeting, May 07, 2025. Recent Insider Transactions • Sep 01
Insider recently sold kr1.9m worth of stock On the 27th of August, Hans Sørlie sold around 15k shares on-market at roughly kr125 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr1.8m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Aug 30
Insider exercised options to buy kr433k worth of stock. On the 23rd of August, Hans Sørlie exercised options to buy 4k shares at a strike price of around kr73.69, costing a total of kr258k. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. Since September 2023, Hans' direct individual holding has increased from 91.44k shares to 93.44k. Company insiders have collectively bought kr949k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Aug 16
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: kr2.70 (up from kr2.00 in 2Q 2023). Revenue: kr10.8b (down 3.4% from 2Q 2023). Net income: kr358.0m (up 30% from 2Q 2023). Profit margin: 3.3% (up from 2.5% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 14%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 16
Price target increased by 13% to kr135 Up from kr120, the current price target is provided by 1 analyst. New target price is 11% above last closing price of kr122. Stock is up 6.5% over the past year. The company is forecast to post earnings per share of kr9.31 for next year compared to kr7.92 last year. Buy Or Sell Opportunity • Jul 01
Now 19% undervalued The stock has been flat over the last 90 days, currently trading at kr115. The fair value is estimated to be kr142, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to grow by 11% in the next 2 years. Buy Or Sell Opportunity • Jun 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.7% to kr114. The fair value is estimated to be kr142, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to grow by 11% in the next 2 years. Buy Or Sell Opportunity • Jun 05
Now 20% undervalued Over the last 90 days, the stock has risen 2.0% to kr113. The fair value is estimated to be kr142, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to grow by 11% in the next 2 years. Recent Insider Transactions Derivative • May 31
Insider exercised options to buy kr231k worth of stock. On the 28th of May, Øivind Larsen exercised options to buy 2k shares at a strike price of around kr99.36, costing a total of kr199k. This transaction amounted to 6.7% of their direct individual holding at the time of the trade. Since September 2023, Øivind's direct individual holding has increased from 26.45k shares to 29.95k. Company insiders have collectively bought kr554k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: kr0.10 (vs kr0.85 loss in 1Q 2023) First quarter 2024 results: EPS: kr0.10 (up from kr0.85 loss in 1Q 2023). Revenue: kr9.48b (flat on 1Q 2023). Net income: kr9.00m (up kr130.0m from 1Q 2023). Profit margin: 0.1% (up from net loss in 1Q 2023). Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • May 08
Now 23% undervalued Over the last 90 days, the stock has risen 7.1% to kr112. The fair value is estimated to be kr145, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 8.1%. Revenue is forecast to decline by 0.6% in a year. Earnings are forecast to grow by 5.9% in the next year. Upcoming Dividend • May 01
Upcoming dividend of kr7.90 per share Eligible shareholders must have bought the stock before 08 May 2024. Payment date: 22 May 2024. Payout ratio is on the higher end at 100%, however this is supported by cash flows. Trailing yield: 6.8%. Lower than top quartile of Norwegian dividend payers (7.7%). Higher than average of industry peers (3.9%). Reported Earnings • Mar 27
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: kr7.92 (down from kr8.09 in FY 2022). Revenue: kr43.1b (up 12% from FY 2022). Net income: kr1.07b (down 2.1% from FY 2022). Profit margin: 2.5% (down from 2.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 7.3%. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Feb 11
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: kr7.90 (down from kr8.09 in FY 2022). Revenue: kr43.1b (up 12% from FY 2022). Net income: kr1.07b (down 2.0% from FY 2022). Profit margin: 2.5% (down from 2.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 7.3%. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Price Target Changed • Feb 09
Price target increased by 9.5% to kr115 Up from kr105, the current price target is provided by 1 analyst. New target price is 10% above last closing price of kr104. Stock is down 6.5% over the past year. The company is forecast to post earnings per share of kr7.36 for next year compared to kr8.09 last year. Announcement • Feb 08
Veidekke ASA Proposes Cash Dividend for the Financial Year 2023, Payable on 22 May 2024 The board of directors of Veidekke ASA has 7 February 2024 decided to propose payment of cash dividend of NOK 7.90 per share for the financial year 2023. The proposal will be considered at the annual general meeting 7 May 2024. Ex-date is 8 May 2024, Record date is 10 May 2024 and Payment date is 22 May 2024. Price Target Changed • Jan 12
Price target decreased by 13% to kr105 Down from kr120, the current price target is provided by 1 analyst. New target price is 6.6% above last closing price of kr98.50. Stock is down 4.7% over the past year. The company is forecast to post earnings per share of kr7.36 for next year compared to kr8.09 last year. Buying Opportunity • Nov 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be kr126, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to decline by 0.3% in 2 years. Earnings is forecast to grow by 8.3% in the next 2 years. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: kr3.30 (vs kr3.00 in 3Q 2022) Third quarter 2023 results: EPS: kr3.30 (up from kr3.00 in 3Q 2022). Revenue: kr10.4b (up 8.8% from 3Q 2022). Net income: kr441.0m (up 9.2% from 3Q 2022). Profit margin: 4.2% (in line with 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 9.7% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 10
Price target decreased by 8.2% to kr113 Down from kr123, the current price target is an average from 2 analysts. New target price is 15% above last closing price of kr97.80. Stock is up 17% over the past year. The company is forecast to post earnings per share of kr7.16 for next year compared to kr8.09 last year. Announcement • Sep 28
Veidekke ASA, Annual General Meeting, May 07, 2024 Veidekke ASA, Annual General Meeting, May 07, 2024. Announcement • Sep 25
Veidekke Asa Announces Resignation of Veidekkehat from Board, Effective 1 October 2023 Veidekke ASA announced that Veidekkehat is resigning from her board position e effective 1 October 2023. Announcement • Sep 06
Veidekke ASA (OB:VEI) acquired 20% stake in Applied Hydrogen As. Veidekke ASA (OB:VEI) acquired 20% stake in Applied Hydrogen As on September 5, 2023. Veidekke's Director Neal Nordahl will represent the company on the board of Applied Hydrogen.Veidekke ASA (OB:VEI) completed the acquisition of 20% stake in Applied Hydrogen As on September 5, 2023. Major Estimate Revision • Aug 24
Consensus EPS estimates fall by 13%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from kr39.9b to kr41.3b. EPS estimate fell from kr8.13 to kr7.08 per share. Net income forecast to grow 1.3% next year vs 17% growth forecast for Construction industry in Norway. Consensus price target down from kr123 to kr120. Share price fell 9.9% to kr99.10 over the past week. Reported Earnings • Aug 18
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: kr2.00 (up from kr1.90 in 2Q 2022). Revenue: kr11.2b (up 13% from 2Q 2022). Net income: kr275.0m (up 9.6% from 2Q 2022). Profit margin: 2.5% (in line with 2Q 2022). Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is forecast to stay flat during the next 3 years compared to a 9.6% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jun 15
Veidekke ASA to Report Q4, 2023 Results on Feb 08, 2024 Veidekke ASA announced that they will report Q4, 2023 results at 7:00 AM, Central European Standard Time on Feb 08, 2024 Recent Insider Transactions • May 18
Director recently bought kr259k worth of stock On the 15th of May, Klara-Lise Aasen bought around 3k shares on-market at roughly kr101 per share. This transaction increased Klara-Lise's direct individual holding by 6x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr144k more in shares than they have sold in the last 12 months. Reported Earnings • May 12
First quarter 2023 earnings released: kr0.90 loss per share (vs kr0.40 loss in 1Q 2022) First quarter 2023 results: kr0.90 loss per share (further deteriorated from kr0.40 loss in 1Q 2022). Revenue: kr9.46b (up 13% from 1Q 2022). Net loss: kr120.0m (loss widened 122% from 1Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 9.4% growth forecast for the Construction industry in Norway. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. 
