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NORB

NorbitOB:NORBT Stock Report

Market Cap

kr1.5b

7D

8.2%

1Y

60.6%

Updated

27 Sep, 2021

Data

Company Financials +
NORBT fundamental analysis
Snowflake Score
Valuation1/6
Future Growth5/6
Past Performance2/6
Financial Health6/6
Dividends2/6

NORBT Overview

NORBIT ASA provides technology products and solutions.

Norbit Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Norbit
Historical stock prices
Current Share Pricekr26.50
52 Week Highkr14.90
52 Week Lowkr28.50
Beta0.93
1 Month Change3.52%
3 Month Change35.90%
1 Year Change60.61%
3 Year Changen/a
5 Year Changen/a
Change since IPO27.47%

Recent News & Updates

Aug 17
Upgrade: Analysts Just Made A Sizeable Increase To Their Norbit ASA (OB:NORBT) Forecasts

Upgrade: Analysts Just Made A Sizeable Increase To Their Norbit ASA (OB:NORBT) Forecasts

Norbit ASA ( OB:NORBT ) shareholders will have a reason to smile today, with the covering analyst making substantial...

Aug 14
Investors Could Be Concerned With Norbit's (OB:NORBT) Returns On Capital

Investors Could Be Concerned With Norbit's (OB:NORBT) Returns On Capital

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'd want to...

Shareholder Returns

NORBTNO ElectronicNO Market
7D8.2%3.9%4.0%
1Y60.6%31.3%25.1%

Return vs Industry: NORBT exceeded the Norwegian Electronic industry which returned 31.3% over the past year.

Return vs Market: NORBT exceeded the Norwegian Market which returned 25.1% over the past year.

Price Volatility

Is NORBT's price volatile compared to industry and market?
NORBT volatility
NORBT Beta0.93
Industry Beta1.23
Market Beta1

Stable Share Price: NORBT is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: NORBT's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1980245Per Weisethaunethttps://www.norbit.com

NORBIT ASA provides technology products and solutions. It operates through three segments: Oceans, Intelligent Traffic Systems, and Product Innovation & Realization. The company designs and develops wideband multibeam sonars used for hydrographic and forward-looking applications, as well as for detection of advanced subsea leakage; and provides cable assemblies, electromechanical box builds, and operational solutions.

Norbit Fundamentals Summary

How do Norbit's earnings and revenue compare to its market cap?
NORBT fundamental statistics
Market Capkr1.55b
Earnings (TTM)kr36.54m
Revenue (TTM)kr650.73m

42.4x

P/E Ratio

2.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NORBT income statement (TTM)
Revenuekr650.73m
Cost of Revenuekr307.83m
Gross Profitkr342.89m
Expenseskr306.35m
Earningskr36.54m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 11, 2021

Earnings per share (EPS)0.63
Gross Margin52.69%
Net Profit Margin5.62%
Debt/Equity Ratio32.0%

How did NORBT perform over the long term?

See historical performance and comparison

Dividends

1.1%

Current Dividend Yield

47%

Payout Ratio

Valuation

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

42.4x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: NORBT (NOK26.5) is trading above our estimate of fair value (NOK17.41)

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


Price To Earnings Ratio

PE vs Industry: NORBT is poor value based on its PE Ratio (42.4x) compared to the European Electronic industry average (25.8x).

PE vs Market: NORBT is poor value based on its PE Ratio (42.4x) compared to the Norwegian market (13.3x).


Price to Earnings Growth Ratio

PEG Ratio: NORBT is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: NORBT is good value based on its PB Ratio (3.5x) compared to the NO Electronic industry average (4x).


Future Growth

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

42.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NORBT's forecast earnings growth (42.2% per year) is above the savings rate (1.2%).

Earnings vs Market: NORBT's earnings (42.2% per year) are forecast to grow faster than the Norwegian market (10% per year).

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

Revenue vs Market: NORBT's revenue (14.8% per year) is forecast to grow faster than the Norwegian market (5.5% per year).

High Growth Revenue: NORBT's revenue (14.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NORBT's Return on Equity is forecast to be high in 3 years time (24.1%)


Past Performance

How has Norbit performed over the past 5 years?

10.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NORBT has high quality earnings.

Growing Profit Margin: NORBT's current net profit margins (5.6%) are lower than last year (9.1%).


Past Earnings Growth Analysis

Earnings Trend: NORBT's earnings have grown by 10.8% per year over the past 5 years.

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

Earnings vs Industry: NORBT had negative earnings growth (-38.3%) over the past year, making it difficult to compare to the Electronic industry average (30.6%).


Return on Equity

High ROE: NORBT's Return on Equity (8.2%) is considered low.


Financial Health

How is Norbit's financial position?


Financial Position Analysis

Short Term Liabilities: NORBT's short term assets (NOK396.7M) exceed its short term liabilities (NOK274.2M).

Long Term Liabilities: NORBT's short term assets (NOK396.7M) exceed its long term liabilities (NOK36.8M).


Debt to Equity History and Analysis

Debt Level: NORBT's debt to equity ratio (32%) is considered satisfactory.

Reducing Debt: NORBT's debt to equity ratio has reduced from 165.3% to 32% over the past 5 years.

Debt Coverage: NORBT's debt is well covered by operating cash flow (47.1%).

Interest Coverage: NORBT's interest payments on its debt are well covered by EBIT (15.1x coverage).


Balance Sheet


Dividend

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

1.13%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: NORBT's dividend (1.13%) isn’t notable compared to the bottom 25% of dividend payers in the Norwegian market (1.85%).

High Dividend: NORBT's dividend (1.13%) is low compared to the top 25% of dividend payers in the Norwegian market (5.08%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, NORBT has been paying a dividend for less than 10 years.

Growing Dividend: NORBT has only been paying a dividend for 2 years, and since then payments have not increased.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.6%), NORBT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: NORBT'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?

5.7yrs

Average management tenure


CEO

Per Weisethaunet

20.67yrs

Tenure

kr2,847,000

Compensation

Mr. Per Jorgen Weisethaunet has been Group Chief Executive Officer 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....


CEO Compensation Analysis

Compensation vs Market: Per's total compensation ($USD330.99K) is below average for companies of similar size in the Norwegian market ($USD531.40K).

Compensation vs Earnings: Per's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: NORBT's management team is seasoned and experienced (5.7 years average tenure).


Board Members

Experienced Board: NORBT's board of directors are not considered experienced ( 2.3 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: NORBT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.9%.


Top Shareholders

Company Information

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


Key Information

  • Name: Norbit ASA
  • Ticker: NORBT
  • Exchange: OB
  • Founded: 1980
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: kr1.549b
  • Shares outstanding: 58.46m
  • Website: https://www.norbit.com

Number of Employees


Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/27 21:25
End of Day Share Price2021/09/27 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.