OB:NORBIT

Stock Analysis Report

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Executive Summary

Norbit ASA provides technology products and solutions in Norway and internationally. More Details

Rewards

PE ratio (18.7x) is below the Electronic industry average (25.9x)

Earnings are forecast to grow 45.34% per year

Risk Analysis

No risks detected for NORBIT from our risk checks.


Snowflake Analysis

Excellent balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: NORBIT is less volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: NORBIT's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

0.8%

NORBIT

4.6%

NO Electronic

3.0%

NO Market


1 Year Return

-5.5%

NORBIT

64.3%

NO Electronic

-1.9%

NO Market

Return vs Industry: NORBIT underperformed the Norwegian Electronic industry which returned 65.1% over the past year.

Return vs Market: NORBIT underperformed the Norwegian Market which returned -4.1% over the past year.


Shareholder returns

NORBITIndustryMarket
7 Day0.8%4.6%3.0%
30 Day12.9%1.3%8.3%
90 Day1.1%10.5%6.8%
1 Year-1.8%-5.5%67.7%64.3%1.7%-1.9%
3 Yearn/a-39.2%-40.3%9.5%-2.8%
5 Yearn/a81.8%68.9%54.5%23.8%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

18.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: NORBIT (NOK17.95) is trading above our estimate of fair value (NOK9.08)

Significantly Below Fair Value: NORBIT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: NORBIT is good value based on its PE Ratio (18.7x) compared to the XE Electronic industry average (25.9x).

PE vs Market: NORBIT is poor value based on its PE Ratio (18.7x) compared to the Norwegian market (15.1x).


Price to Earnings Growth Ratio

PEG Ratio: NORBIT is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: NORBIT is good value based on its PB Ratio (2.2x) compared to the NO Electronic industry average (3.1x).


Next Steps

Future Growth

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

45.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NORBIT's forecast earnings growth (45.3% per year) is above the savings rate (1.6%).

Earnings vs Market: NORBIT's earnings (45.3% per year) are forecast to grow faster than the Norwegian market (33.8% per year).

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

Revenue vs Market: NORBIT's revenue (11.8% per year) is forecast to grow faster than the Norwegian market (6.1% per year).

High Growth Revenue: NORBIT's revenue (11.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NORBIT's Return on Equity is forecast to be low in 3 years time (19.4%).


Next Steps

Past Performance

How has Norbit performed over the past 5 years?

29.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NORBIT has high quality earnings.

Growing Profit Margin: NORBIT's current net profit margins (8.5%) are lower than last year (9.8%).


Past Earnings Growth Analysis

Earnings Trend: NORBIT's earnings have grown significantly by 29.8% per year over the past 5 years.

Accelerating Growth: NORBIT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: NORBIT had negative earnings growth (-8.9%) over the past year, making it difficult to compare to the Electronic industry average (-7.5%).


Return on Equity

High ROE: NORBIT's Return on Equity (12%) is considered low.


Next Steps

Financial Health

How is Norbit's financial position?


Financial Position Analysis

Short Term Liabilities: NORBIT's short term assets (NOK354.2M) exceed its short term liabilities (NOK174.0M).

Long Term Liabilities: NORBIT's short term assets (NOK354.2M) exceed its long term liabilities (NOK37.9M).


Debt to Equity History and Analysis

Debt Level: NORBIT's debt to equity ratio (23.4%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if NORBIT's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: NORBIT's debt is well covered by operating cash flow (93.1%).

Interest Coverage: NORBIT's interest payments on its debt are well covered by EBIT (114.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Norbit current dividend yield, its reliability and sustainability?

1.67%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: NORBIT's dividend (1.67%) isn’t notable compared to the bottom 25% of dividend payers in the Norwegian market (2.45%).

High Dividend: NORBIT's dividend (1.67%) is low compared to the top 25% of dividend payers in the Norwegian market (6.03%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether NORBIT's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if NORBIT's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.2%), NORBIT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: NORBIT's dividends in 3 years are forecast to be well covered by earnings (40% payout ratio).


Next Steps

Management

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

1.5yrs

Average board tenure


CEO

Per Weisethaunet

19.83yrs

Tenure

kr8,620,000

Compensation

Mr. Per Jørgen Weisethaunet is the current Group CEO of Norbit ASA, which position he has held since joining in 2001. Mr. Weisethaunet has been the co-owner of NORBIT since 2008. Further, Mr. Weisethaunet ...


CEO Compensation Analysis

Compensation vs Market: Per's total compensation ($USD965.00K) is above average for companies of similar size in the Norwegian market ($USD380.15K).

Compensation vs Earnings: Per's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Board Members

NamePositionTenureCompensationOwnership
Bente Landsnes
Deputy Chairperson1.5yrskr190.00k0.089%
NOK 906.0k
Finn Haugan
Chairperson1.5yrskr292.00k0.12%
NOK 1.2m
Trond Tuvstein
Board Member1.5yrskr117.00k0.058%
NOK 590.5k
Marit Collin
Board Member1.5yrskr88.00k0.047%
NOK 474.7k
Tom Solberg
Board Member11.5yrskr88.00k0.12%
NOK 1.2m

1.5yrs

Average Tenure

60yo

Average Age

Experienced Board: NORBIT's board of directors are not considered experienced ( 1.5 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: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: Norbit ASA
  • Ticker: NORBIT
  • Exchange: OB
  • Founded: 1980
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: kr1.019b
  • Shares outstanding: 56.79m
  • Website: https://www.norbit.com

Number of Employees


Location

  • Norbit ASA
  • Stiklestadveien 1
  • Trondheim
  • Sør-Trøndelag
  • 7041
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NORBITOB (Oslo Bors)YesOrdinary SharesNONOKJun 2019
4NKDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2019

Biography

Norbit ASA provides technology products and solutions in Norway and internationally. The company offers monitoring and detection services for maritime, and offshore oil and gas projects; consultancy servic...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/24 21:26
End of Day Share Price2020/11/24 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.