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NORB

Norbit OB:NORBT Stock Report

Last Price

kr24.40

Market Cap

kr1.4b

7D

-3.9%

1Y

-17.3%

Updated

29 Sep, 2022

Data

Company Financials +
NORBT fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance4/6
Financial Health5/6
Dividends0/6

NORBT Stock 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 Pricekr24.40
52 Week Highkr38.30
52 Week Lowkr22.90
Beta0.75
1 Month Change-12.86%
3 Month Change-4.69%
1 Year Change-17.29%
3 Year Change25.13%
5 Year Changen/a
Change since IPO17.36%

Recent News & Updates

May 11
A Look At The Fair Value Of Norbit ASA (OB:NORBT)

A Look At The Fair Value Of Norbit ASA (OB:NORBT)

Does the May share price for Norbit ASA ( OB:NORBT ) reflect what it's really worth? Today, we will estimate the...

Shareholder Returns

NORBTNO ElectronicNO Market
7D-3.9%-3.9%-6.3%
1Y-17.3%-40.1%-7.0%

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

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

Price Volatility

Is NORBT's price volatile compared to industry and market?
NORBT volatility
NORBT Average Weekly Movement5.3%
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: NORBT is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: NORBT's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1980400Per Weisethaunethttps://www.norbit.com

NORBIT ASA provides technology products and solutions. It operates through three segments: Oceans, Connectivity, and Product Innovation and 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 business solutions.

Norbit Fundamentals Summary

How do Norbit's earnings and revenue compare to its market cap?
NORBT fundamental statistics
Market Capkr1.44b
Earnings (TTM)kr77.50m
Revenue (TTM)kr999.60m

18.5x

P/E Ratio

1.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NORBT income statement (TTM)
Revenuekr999.60m
Cost of Revenuekr452.10m
Gross Profitkr547.50m
Other Expenseskr470.00m
Earningskr77.50m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 11, 2022

Earnings per share (EPS)1.32
Gross Margin54.77%
Net Profit Margin7.75%
Debt/Equity Ratio59.2%

How did NORBT perform over the long term?

See historical performance and comparison

Dividends

1.2%

Current Dividend Yield

23%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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 NORBT?

Other financial metrics that can be useful for relative valuation.

NORBT 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/Revenue1.7x
Enterprise Value/EBITDA11.6x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does NORBT's PE Ratio compare to its peers?

NORBT PE Ratio vs Peers
The above table shows the PE ratio for NORBT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average25.9x
STRO StrongPoint
43.1x44.5%kr759.2m
QFR Q-Free
10.6x10.7%kr667.5m
KIT Kitron
21.2x17.2%kr3.6b
SMOP Smartoptics Group
28.6x37.1%kr1.3b
NORBT Norbit
18.5xn/akr1.4b

Price-To-Earnings vs Peers: NORBT is good value based on its Price-To-Earnings Ratio (18.5x) compared to the peer average (25.9x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: NORBT is good value based on its Price-To-Earnings Ratio (18.5x) compared to the European Electronic industry average (19x)


Price to Earnings Ratio vs Fair Ratio

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

NORBT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NORBT's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

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

Below Fair Value: NORBT (NOK24.4) is trading above our estimate of fair value (NOK23.33)

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


Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

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

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


15.0%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if NORBT's forecast earnings growth is above the savings rate (1.1%).

Earnings vs Market: Insufficient data to determine if NORBT's earnings are forecast to grow faster than the Norwegian market

High Growth Earnings: Insufficient data to determine if NORBT's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: NORBT's revenue (15% per year) is forecast to grow faster than the Norwegian market (0.2% per year).

High Growth Revenue: NORBT's revenue (15% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Discover growth companies

Past Performance

How has Norbit performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-0.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NORBT has high quality earnings.

Growing Profit Margin: NORBT's current net profit margins (7.8%) are higher than last year (5.6%).


Past Earnings Growth Analysis

Earnings Trend: NORBT's earnings have declined by 0.3% per year over the past 5 years.

Accelerating Growth: NORBT's earnings growth over the past year (112.2%) exceeds its 5-year average (-0.3% per year).

Earnings vs Industry: NORBT earnings growth over the past year (112.2%) exceeded the Electronic industry 11.1%.


Return on Equity

High ROE: NORBT's Return on Equity (14.4%) is considered low.


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Financial Health

How is Norbit's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: NORBT's short term assets (NOK600.8M) exceed its short term liabilities (NOK392.5M).

Long Term Liabilities: NORBT's short term assets (NOK600.8M) exceed its long term liabilities (NOK170.3M).


Debt to Equity History and Analysis

Debt Level: NORBT's net debt to equity ratio (52.2%) is considered high.

Reducing Debt: NORBT's debt to equity ratio has reduced from 148.3% to 59.2% over the past 5 years.

Debt Coverage: NORBT's debt is well covered by operating cash flow (24.4%).

Interest Coverage: NORBT's interest payments on its debt are well covered by EBIT (9.6x coverage).


Balance Sheet


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Dividend

What is Norbit 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


1.23%

Current Dividend Yield

Dividend Yield vs Market

Norbit Dividend Yield vs Market
How does Norbit dividend yield compare to the market?
SegmentDividend Yield
Company (Norbit)1.2%
Market Bottom 25% (NO)3.8%
Market Top 25% (NO)8.0%
Industry Average (Electronic)2.0%
Analyst forecast in 3 Years (Norbit)5.1%

Notable Dividend: NORBT's dividend (1.23%) isn’t notable compared to the bottom 25% of dividend payers in the Norwegian market (3.8%).

High Dividend: NORBT's dividend (1.23%) is low compared to the top 25% of dividend payers in the Norwegian market (7.97%).


Stability and Growth of Payments

Stable Dividend: NORBT is not paying a notable dividend for the Norwegian market, therefore no need to check if payments are stable.

Growing Dividend: NORBT is not paying a notable dividend for the Norwegian market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: NORBT is not paying a notable dividend for the Norwegian market.


Cash Payout to Shareholders

Cash Flow Coverage: NORBT is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

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

6.7yrs

Average management tenure


CEO

Per Weisethaunet

21.67yrs

Tenure

kr3,600,000

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

Per Weisethaunet's Compensation vs Norbit Earnings
How has Per Weisethaunet's remuneration changed compared to Norbit's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

kr78m

Mar 31 2022n/an/a

kr62m

Dec 31 2021kr4mkr3m

kr48m

Sep 30 2021n/an/a

kr33m

Jun 30 2021n/an/a

kr37m

Mar 31 2021n/an/a

kr21m

Dec 31 2020kr3mkr3m

kr27m

Sep 30 2020n/an/a

kr55m

Jun 30 2020n/an/a

kr59m

Mar 31 2020n/an/a

kr48m

Dec 31 2019kr9mkr2m

kr77m

Sep 30 2019n/an/a

kr60m

Jun 30 2019n/an/a

kr49m

Mar 31 2019n/an/a

kr85m

Dec 31 2018kr2mkr2m

kr48m

Compensation vs Market: Per's total compensation ($USD335.36K) is about average for companies of similar size in the Norwegian market ($USD322.95K).

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


Leadership Team

Experienced Management: NORBT's management team is seasoned and experienced (6.7 years average tenure).


Board Members

Experienced Board: NORBT's board of directors are not considered experienced ( 1.8 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

OB:NORBT Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
08 Sep 22Buykr265,000Per WeisethaunetIndividual10,000kr26.50
13 May 22Buykr247,630Bente LandsnesIndividual9,000kr27.51
11 Nov 21Buykr834,250Per WeisethaunetIndividual25,000kr33.37

Ownership Breakdown

What is the ownership structure of NORBT?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders9,338,68715.9%
General Public13,434,45422.8%
Institutions15,818,25326.9%
Private Companies20,292,91334.5%

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


Top Shareholders

Top 25 shareholders own 77.06% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
11.89%
Per Weisethaunet
7,002,944NOK170.9m0.14%no data
9.9%
Reitan Kapital AS
5,828,392NOK142.2m0%no data
9.69%
New Draupnir Invest
5,702,949NOK139.2m0%no data
7.08%
Handelsbanken Asset Management
4,168,527NOK101.7m0%0.02%
6.51%
Esmar AS
3,832,286NOK93.5m0%no data
6.51%
Eidco AS
3,832,286NOK93.5m0%no data
4.92%
Hanover Investors Management LLP
2,900,000NOK70.8m0%18%
4.57%
Arctic Asset Management AS
2,692,374NOK65.7m0%0.47%
2.93%
Citigroup Inc.,Banking and Securities Investments
1,725,000NOK42.1m0%no data
1.78%
Danske Invest Asset Management AS
1,050,000NOK25.6m0%0.56%
1.61%
Taiga Fund Management AS
945,187NOK23.1m0%4.75%
1.31%
Peter Eriksen
772,427NOK18.8m3.19%no data
1.23%
Arild Soraunet
721,989NOK17.6m0%no data
1.21%
T.D. VEEN AS
715,000NOK17.4m0%4.81%
1.16%
Nordea Investment Management AB
684,247NOK16.7m0%no data
1.15%
Sonstad AS
676,000NOK16.5m0%no data
1.07%
Carnegie Fonder AB
627,216NOK15.3m0%0.03%
0.71%
Gh Holding AS
421,000NOK10.3m0%no data
0.53%
Bergen Kommunale Pensjonskasse
310,344NOK7.6m0%4.63%
0.52%
Stein Beyer
304,103NOK7.4m3.03%no data
0.34%
Peter Tschulik
201,640NOK4.9m0%no data
0.14%
Finn Haugan
81,078NOK2.0m0%no data
0.12%
Bente Landsnes
69,473NOK1.7m14.88%no data
0.11%
Tom Solberg
65,789NOK1.6m0%no data
0.076%
Per Reppe
44,903NOK1.1m86.96%no data

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
  • Implied Market Cap: kr1.437b
  • Shares outstanding: 58.88m
  • Website: https://www.norbit.com

Number of Employees


Location

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


Listings

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

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.