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AIRX

Airthings OB:AIRX Stock Report

Last Price

kr4.37

Market Cap

kr755.2m

7D

-7.5%

1Y

-56.5%

Updated

29 Sep, 2022

Data

Company Financials +
AIRX fundamental analysis
Snowflake Score
Valuation1/6
Future Growth1/6
Past Performance0/6
Financial Health5/6
Dividends0/6

AIRX Stock Overview

Airthings ASA, together with its subsidiaries, engages in the manufacture and sale of air quality sensors and hardware-enabled software products for air quality, radon measurement, and energy efficiency solutions worldwide.

Airthings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Airthings
Historical stock prices
Current Share Pricekr4.37
52 Week Highkr12.40
52 Week Lowkr3.25
Beta0
1 Month Change0.23%
3 Month Change21.25%
1 Year Change-56.52%
3 Year Changen/a
5 Year Changen/a
Change since IPO-56.35%

Recent News & Updates

Jul 20
Is There An Opportunity With Airthings ASA's (OB:AIRX) 32% Undervaluation?

Is There An Opportunity With Airthings ASA's (OB:AIRX) 32% Undervaluation?

How far off is Airthings ASA ( OB:AIRX ) from its intrinsic value? Using the most recent financial data, we'll take a...

Shareholder Returns

AIRXNO ElectronicNO Market
7D-7.5%-3.9%-6.3%
1Y-56.5%-40.1%-7.0%

Return vs Industry: AIRX underperformed the Norwegian Electronic industry which returned -40% over the past year.

Return vs Market: AIRX underperformed the Norwegian Market which returned -4.5% over the past year.

Price Volatility

Is AIRX's price volatile compared to industry and market?
AIRX volatility
AIRX Average Weekly Movement8.5%
Electronic Industry Average Movement7.7%
Market Average Movement6.7%
10% most volatile stocks in NO Market11.2%
10% least volatile stocks in NO Market3.8%

Stable Share Price: AIRX is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: AIRX's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2008143Oyvind Birkeneshttps://www.airthings.com

Airthings ASA, together with its subsidiaries, engages in the manufacture and sale of air quality sensors and hardware-enabled software products for air quality, radon measurement, and energy efficiency solutions worldwide. The company operates through three segments: Consumer, Business, and Professional segments. It offers digital radon detectors, as well as smart indoor air quality monitors and solutions for professionals, homes, schools, offices, and other commercial buildings.

Airthings Fundamentals Summary

How do Airthings's earnings and revenue compare to its market cap?
AIRX fundamental statistics
Market Capkr755.18m
Earnings (TTM)-kr101.09m
Revenue (TTM)kr381.88m

2.0x

P/S Ratio

-7.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AIRX income statement (TTM)
RevenueUS$35.57m
Cost of RevenueUS$14.38m
Gross ProfitUS$21.20m
Other ExpensesUS$30.61m
Earnings-US$9.42m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 27, 2022

Earnings per share (EPS)-0.054
Gross Margin59.59%
Net Profit Margin-26.47%
Debt/Equity Ratio0%

How did AIRX perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is AIRX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AIRX?

Other financial metrics that can be useful for relative valuation.

AIRX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.5x
Enterprise Value/EBITDA-3.9x
PEG Ration/a

Price to Sales Ratio vs Peers

How does AIRX's PS Ratio compare to its peers?

AIRX PS Ratio vs Peers
The above table shows the PS ratio for AIRX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average1x
STRO StrongPoint
0.7x14.9%kr759.2m
QFR Q-Free
0.8x9.8%kr667.5m
NORBT Norbit
1.4x15.0%kr1.4b
XPLRA Xplora Technologies
0.9x24.2%kr416.1m
AIRX Airthings
2x18.7%kr755.2m

Price-To-Sales vs Peers: AIRX is expensive based on its Price-To-Sales Ratio (2x) compared to the peer average (1x).


Price to Earnings Ratio vs Industry

How does AIRX's PE Ratio compare vs other companies in the European Electronic Industry?

Price-To-Sales vs Industry: AIRX is expensive based on its Price-To-Sales Ratio (2x) compared to the European Electronic industry average (1.1x)


Price to Sales Ratio vs Fair Ratio

What is AIRX's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AIRX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2x
Fair PS Ratio2.5x

Price-To-Sales vs Fair Ratio: AIRX is good value based on its Price-To-Sales Ratio (2x) compared to the estimated Fair Price-To-Sales Ratio (2.5x).


Share Price vs Fair Value

What is the Fair Price of AIRX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate AIRX's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate AIRX's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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Future Growth

How is Airthings forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


67.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

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

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

Revenue vs Market: AIRX's revenue (18.7% per year) is forecast to grow faster than the Norwegian market (0.2% per year).

High Growth Revenue: AIRX's revenue (18.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AIRX is forecast to be unprofitable in 3 years.


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Past Performance

How has Airthings performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-54.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AIRX is currently unprofitable.

Growing Profit Margin: AIRX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AIRX is unprofitable, and losses have increased over the past 5 years at a rate of 54.6% per year.

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

Earnings vs Industry: AIRX is unprofitable, making it difficult to compare its past year earnings growth to the Electronic industry (11.1%).


Return on Equity

High ROE: AIRX has a negative Return on Equity (-17.65%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Airthings's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: AIRX's short term assets ($51.7M) exceed its short term liabilities ($10.3M).

Long Term Liabilities: AIRX's short term assets ($51.7M) exceed its long term liabilities ($3.1M).


Debt to Equity History and Analysis

Debt Level: AIRX is debt free.

Reducing Debt: AIRX had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: AIRX has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: AIRX has sufficient cash runway for 2.8 years if free cash flow continues to reduce at historical rates of 53.7% each year.


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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Airthings Dividend Yield vs Market
How does Airthings dividend yield compare to the market?
SegmentDividend Yield
Company (Airthings)n/a
Market Bottom 25% (NO)3.8%
Market Top 25% (NO)8.0%
Industry Average (Electronic)2.0%
Analyst forecast in 3 Years (Airthings)0%

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

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


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as AIRX has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.7yrs

Average management tenure


CEO

Oyvind Birkenes

no data

Tenure

Mr. Oyvind Birkenes serves as the Chief Executive Officer of Airthings ASA. Mr. Birkenes was the General Manager for Low Power RF at Texas Instruments (TI) in the USA. At TI he headed the product lines tha...


Leadership Team

Experienced Management: AIRX's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

Experienced Board: AIRX's board of directors are not considered experienced ( 0.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AIRX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

OB:AIRX Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
16 Sep 22Buykr1,040,000Geir ForreIndividual200,000kr5.20
08 Sep 22Buykr3,185,682Firda AsCompany665,000kr4.79
05 Sep 22Buykr2,932,249Firda AsCompany625,000kr4.69
02 Sep 22Buykr69,246A Management ASCompany15,388kr4.50
31 Aug 22Buykr4,005,899Firda AsCompany900,000kr4.45
22 Aug 22Buykr1,303,904Firda AsCompany270,452kr4.82
19 Aug 22Buykr1,013,672Firda AsCompany220,000kr4.61
19 Aug 22Buykr89,800Anders FolleråsIndividual20,000kr4.49
18 Aug 22Buykr75,425Liv DyrnesIndividual17,500kr4.31
18 Aug 22Buykr1,033,694Firda AsCompany235,000kr4.40
17 Aug 22Buykr41,000Audhild RandaIndividual10,000kr4.10
17 Aug 22Buykr1,100,759Firda AsCompany255,000kr4.32
18 Jul 22Buykr888,849Firda AsCompany250,000kr3.56
18 Jul 22Buykr202,280Lauren PedersenIndividual52,000kr3.89
15 Jul 22Buykr1,049,671Firda AsCompany300,000kr3.50
14 Jul 22Buykr1,578,760Firda AsCompany461,707kr3.42
10 Jun 22Buykr1,568,155Firda AsCompany374,816kr4.18
09 Jun 22Buykr59,775Audhild RandaIndividual15,000kr3.99
09 Jun 22Buykr3,486,909Firda AsCompany875,184kr3.98
30 May 22Buykr200,000Lauren PedersenIndividual40,000kr5.00
24 May 22Buykr1,976,480Firda AsCompany415,000kr4.76
19 May 22Buykr499,475Tore RismyhrIndividual100,500kr4.97
13 May 22Buykr848,081Firda AsCompany166,147kr5.10
09 May 22Buykr2,018,509Firda AsCompany354,000kr5.70
05 May 22Buykr65,200Audhild RandaIndividual10,000kr6.52
05 May 22Buykr3,719,422Geir ForreIndividual570,000kr6.53
21 Feb 22Buykr2,005,875Firda AsCompany250,000kr8.02
17 Feb 22Buykr58,500Audhild RandaIndividual7,500kr7.80
10 Feb 22Buykr246,120Lauren PedersenIndividual28,000kr8.79

Ownership Breakdown

What is the ownership structure of AIRX?
Owner TypeNumber of SharesOwnership Percentage
General Public2,707,1351.6%
Private Companies28,389,75516.4%
VC/PE Firms33,368,84919.3%
Institutions51,862,93830.0%
Individual Insiders56,680,46932.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 92.5% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
19.4%
Geir Forre
33,568,849$146.5m0%no data
19.29%
Firda As
33,368,849$145.7m15.22%no data
6.13%
DNB Asset Management AS
10,612,117$46.3m0%0.02%
4.93%
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
8,531,472$37.2m0%no data
4.6%
KLP Kapitalforvaltning AS
7,962,222$34.8m0%0.02%
3.26%
Atlas Invest AS
5,637,468$24.6m0%no data
3.16%
Eika Kapitalforvaltning
5,473,171$23.9m61.83%0.81%
2.9%
Handelsbanken Asset Management
5,017,771$21.9m0%no data
2.83%
HALVOR WØIEN
4,894,522$21.4m0%no data
2.79%
Erlend Bolle
4,819,722$21.0m0%no data
2.63%
Victoria India Fund
4,558,131$19.9m0%no data
2.52%
Bjorn Sundal
4,364,999$19.1m0%no data
2.41%
Koki Yoshioka
4,166,650$18.2m0%no data
1.86%
Deka Investment GmbH
3,226,186$14.1m-46.54%no data
1.75%
Skandinaviska Enskilda Banken AB, Private Banking, Investment Banking, and Insurance Arm
3,025,292$13.2m0%0.03%
1.73%
Skilling Systemer AS
3,000,000$13.1m0%no data
1.71%
Danske Invest Asset Management AS
2,962,962$12.9m0%0.31%
1.63%
Gunnar Evensen
2,814,236$12.3m0%no data
1.51%
Storebrand Asset Management AS
2,617,342$11.4m-35.78%0.01%
1.42%
Nore-Invest AS
2,450,659$10.7m0%no data
1.41%
Grotmol Solutions As
2,434,403$10.6m53.97%no data
1.41%
Storlien Invest AS
2,432,000$10.6m0.18%no data
0.67%
A Management AS
1,157,366$5.1m1.35%no data
0.3%
Pal Berntsen
518,200$2.3m0%no data
0.24%
Anders Follerås
412,800$1.8m0%no data

Company Information

Airthings ASA's employee growth, exchange listings and data sources


Key Information

  • Name: Airthings ASA
  • Ticker: AIRX
  • Exchange: OB
  • Founded: 2008
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Implied Market Cap: kr755.185m
  • Shares outstanding: 173.01m
  • Website: https://www.airthings.com

Number of Employees


Location

  • Airthings ASA
  • Wergelandsveien 7
  • Oslo
  • Oslo
  • 167
  • Norway


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
64JMUN (Boerse Muenchen)YesShare CapitalDEEUROct 2020
AIRXOB (Oslo Bors)YesShare CapitalNONOKOct 2020
ARTG.FOTCPK (Pink Sheets LLC)YesShare CapitalUSUSDOct 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.