OB:INFRNT

Stock Analysis Report

Executive Summary

Infront ASA provides market data, trading solutions, and news for finance professionals and private investors in Norway, Sweden, and internationally.

Snowflake

Fundamentals

Limited growth with worrying balance sheet.

Share Price & News

How has Infront's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

4.8%

INFRNT

2.2%

NO Capital Markets

-1.0%

NO Market


1 Year Return

-18.0%

INFRNT

-1.5%

NO Capital Markets

-9.4%

NO Market

Return vs Industry: INFRNT underperformed the Norwegian Capital Markets industry which returned -1.5% over the past year.

Return vs Market: INFRNT underperformed the Norwegian Market which returned -9.4% over the past year.


Shareholder returns

INFRNTIndustryMarket
7 Day4.8%2.2%-1.0%
30 Day-0.9%-3.3%-1.9%
90 Day6.9%-0.08%-0.9%
1 Year-18.0%-18.0%2.8%-1.5%-4.5%-9.4%
3 Yearn/a23.8%9.2%40.1%21.9%
5 Yearn/a8.6%-11.8%63.3%25.7%

Price Volatility Vs. Market

How volatile is Infront's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Infront undervalued compared to its fair value and its price relative to the market?

2.52x

Price to Book (PB) ratio


Share Price vs. Fair Value

Undervalued: INFRNT (NOK21.8) is trading above our estimate of fair value (NOK5.53)

Significantly Undervalued: INFRNT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: INFRNT is unprofitable, so we can't compare its PE Ratio to the Capital Markets industry average.

PE vs Market: INFRNT is unprofitable, so we can't compare its PE Ratio to the Norwegian market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate INFRNT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: INFRNT is overvalued based on its PB Ratio (2.5x) compared to the XE Capital Markets industry average (1.3x).


Next Steps

Future Growth

How is Infront forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

70.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: INFRNT is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: INFRNT is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: INFRNT is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: INFRNT's revenue (36.7% per year) is forecast to grow faster than the Norwegian market (4.9% per year).

High Growth Revenue: INFRNT's revenue (36.7% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if INFRNT's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Infront performed over the past 5 years?

17.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: INFRNT is unprofitable, but has reduced losses over the past 5 years at a rate of 17.9% per year.

Accelerating Growth: Unable to compare INFRNT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: INFRNT is unprofitable, making it difficult to compare its past year earnings growth to the Capital Markets industry (-2.2%).


Return on Equity

High ROE: INFRNT has a negative Return on Equity (-0.29%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: INFRNT is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: INFRNT is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Infront's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: INFRNT has a low level of unsold assets or inventory.

Debt Coverage by Assets: INFRNT's debt is covered by short term assets (assets are 1.381940x debt).


Financial Institutions Analysis

Asset Level: INFRNT's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if INFRNT has a sufficient allowance for bad loans.

Low Risk Liabilities: INFRNT reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if INFRNT has an acceptable proportion of non-loan assets held.

Low Risk Deposits: INFRNT has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if INFRNT has an appropriate level of bad loans.


Next Steps

Dividend

What is Infront's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%2.6%markettop25%6.3%industryaverage3.5%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate INFRNT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate INFRNT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if INFRNT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if INFRNT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: INFRNT is not paying a notable dividend for .


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of INFRNT's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

What is the CEO of Infront's salary, the management and board of directors tenure and is there insider trading?

2.5yrs

Average board tenure


CEO

Kristian Nesbak 0

0yrs

Tenure

kr2,232,247

Compensation

Mr. Kristian Nesbak is the Owner of CatalystOne AS, a subsidiary of Infront AS. Mr. Nesbak co-founded Infront AS in 1998 and serves as its Chief Executive Officer. He has 15 years of experience from the fi ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Kristian's total compensation is reasonable compared to companies of similar size in the Norwegian market.

Compensation vs Earnings: Kristian's compensation has increased whilst the company is unprofitable.


Board Age and Tenure

2.5yrs

Average Tenure

48yo

Average Age

Experienced Board: INFRNT's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buykr105,00010 May 19
Lu Yu
EntityIndividual
Shares5,000
Max Pricekr21.00
Buykr210,00009 May 19
Joachim Rosli
EntityIndividual
Role
Head of Sales
Co-Owner & Head of Sales
Shares10,000
Max Pricekr21.00

Ownership Breakdown


Management Team

  • Kristian Nesbak

    Co-Founder & CEO

    • Tenure: 0yrs
    • Compensation: kr2.23m
  • Morten Lindeman

    Co-Founder & Chief Innovation Officer

    • Tenure: 21.8yrs
    • Compensation: kr1.54m
  • Hallvard Vassbotn

    Head of Front-end Development

    • Tenure: 0yrs
  • Ken Riggio

    Chief Executive Officer of Infront Sweden

    • Tenure: 0yrs
  • Joachim Rosli

    Co-Owner & Head of Sales

    • Tenure: 3.7yrs
    • Compensation: kr1.15m
  • Max Hofer

    Chief Financial Officer

    • Tenure: 0yrs
    • Compensation: kr2.14m

Board Members

  • Gunnar Jacobsen (42yo)

    Chairman

    • Tenure: 0yrs
  • Beate Nygårdshaug (42yo)

    Director

    • Tenure: 2.5yrs
  • Mark Ivin (54yo)

    Director

    • Tenure: 2.5yrs
  • Torun Reinhammar (56yo)

    Director

    • Tenure: 2.5yrs

Company Information

Infront ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Infront ASA
  • Ticker: INFRNT
  • Exchange: OB
  • Founded: 1998
  • Industry: Financial Exchanges and Data
  • Sector: Diversified Financials
  • Market Cap: kr944.589m
  • Shares outstanding: 43.33m
  • Website: https://www.infrontfinance.com

Number of Employees


Location

  • Infront ASA
  • Munkedamsveien 45
  • Oslo
  • Oslo
  • 250
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
INFRNTOB (Oslo Bors)YesShare CapitalNONOKSep 2017

Biography

Infront ASA provides market data, trading solutions, and news for finance professionals and private investors in Norway, Sweden, and internationally. It offers the Infront Professional terminal, a terminal ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 21:56
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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 here.