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SMOP

Smartoptics Group OB:SMOP Stock Report

Last Price

kr14.00

Market Cap

kr1.3b

7D

4.9%

1Y

27.3%

Updated

03 Oct, 2022

Data

Company Financials +
SMOP fundamental analysis
Snowflake Score
Valuation4/6
Future Growth6/6
Past Performance2/6
Financial Health4/6
Dividends0/6

SMOP Stock Overview

Smartoptics Group AS provides optical networking solutions and devices in Norway.

Smartoptics Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Smartoptics Group
Historical stock prices
Current Share Pricekr14.00
52 Week Highkr17.00
52 Week Lowkr9.30
Beta0
1 Month Change-5.41%
3 Month Change22.81%
1 Year Change27.27%
3 Year Changen/a
5 Year Changen/a
Change since IPO34.88%

Recent News & Updates

Jun 15
We Like These Underlying Return On Capital Trends At Smartoptics Group (OB:SMOP)

We Like These Underlying Return On Capital Trends At Smartoptics Group (OB:SMOP)

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

Shareholder Returns

SMOPNO CommunicationsNO Market
7D4.9%0.4%2.0%
1Y27.3%-19.3%-3.5%

Return vs Industry: SMOP exceeded the Norwegian Communications industry which returned -20.7% over the past year.

Return vs Market: SMOP exceeded the Norwegian Market which returned -5.4% over the past year.

Price Volatility

Is SMOP's price volatile compared to industry and market?
SMOP volatility
SMOP Average Weekly Movement8.0%
Communications Industry Average Movement5.5%
Market Average Movement6.8%
10% most volatile stocks in NO Market11.3%
10% least volatile stocks in NO Market3.8%

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

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

About the Company

FoundedEmployeesCEOWebsite
199079Magnus Grenfeldthttps://www.smartoptics.com

Smartoptics Group AS provides optical networking solutions and devices in Norway. Its products include open line systems comprising flexible open line systems, and passive optical networking multiplexers and OADM; layer 1 transport, such as transponders; optical transceivers; and certified FC transceivers. The company also provides technical support, extended warranty, advance product replacement, care, network design, and staging and installation support services.

Smartoptics Group Fundamentals Summary

How do Smartoptics Group's earnings and revenue compare to its market cap?
SMOP fundamental statistics
Market Capkr1.35b
Earnings (TTM)kr46.52m
Revenue (TTM)kr449.43m

29.0x

P/E Ratio

3.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SMOP income statement (TTM)
Revenuekr449.43m
Cost of Revenuekr249.79m
Gross Profitkr199.63m
Other Expenseskr153.11m
Earningskr46.52m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 26, 2022

Earnings per share (EPS)0.48
Gross Margin44.42%
Net Profit Margin10.35%
Debt/Equity Ratio7.1%

How did SMOP perform over the long term?

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

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 SMOP?

Other financial metrics that can be useful for relative valuation.

SMOP 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/Revenue2.9x
Enterprise Value/EBITDA20.3x
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

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

SMOP PE Ratio vs Peers
The above table shows the PE ratio for SMOP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average35.6x
NAPA Napatech
67.3x66.8%kr1.1b
NORBT Norbit
18.4xn/akr1.4b
STRO StrongPoint
45.4x44.5%kr799.3m
QFR Q-Free
11.3x10.7%kr712.0m
SMOP Smartoptics Group
29x37.1%kr1.3b

Price-To-Earnings vs Peers: SMOP is good value based on its Price-To-Earnings Ratio (29x) compared to the peer average (35.6x).


Price to Earnings Ratio vs Industry

How does SMOP's PE Ratio compare vs other companies in the European Communications Industry?

Price-To-Earnings vs Industry: SMOP is expensive based on its Price-To-Earnings Ratio (29x) compared to the European Communications industry average (20.4x)


Price to Earnings Ratio vs Fair Ratio

What is SMOP'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.

SMOP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29x
Fair PE Ratio34.3x

Price-To-Earnings vs Fair Ratio: SMOP is good value based on its Price-To-Earnings Ratio (29x) compared to the estimated Fair Price-To-Earnings Ratio (34.3x).


Share Price vs Fair Value

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

Below Fair Value: SMOP (NOK14) is trading below our estimate of fair value (NOK49.18)

Significantly Below Fair Value: SMOP is trading below fair value by more than 20%.


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 Smartoptics Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

6/6

Future Growth Score 6/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


37.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SMOP's forecast earnings growth (37.1% per year) is above the savings rate (1.1%).

Earnings vs Market: SMOP's earnings (37.1% per year) are forecast to grow faster than the Norwegian market (-2.9% per year).

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

Revenue vs Market: SMOP's revenue (22.1% per year) is forecast to grow faster than the Norwegian market (0.3% per year).

High Growth Revenue: SMOP's revenue (22.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SMOP's Return on Equity is forecast to be high in 3 years time (32.5%)


Discover growth companies

Past Performance

How has Smartoptics Group performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


133.7%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: SMOP has a high level of non-cash earnings.

Growing Profit Margin: SMOP's current net profit margins (10.4%) are higher than last year (5.2%).


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if SMOP's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Insufficient data to compare SMOP's past year earnings growth to its 5-year average.

Earnings vs Industry: SMOP earnings growth over the past year (133.7%) exceeded the Communications industry 30.5%.


Return on Equity

High ROE: SMOP's Return on Equity (19.7%) is considered low.


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Financial Health

How is Smartoptics Group's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SMOP's short term assets (NOK307.8M) exceed its short term liabilities (NOK81.6M).

Long Term Liabilities: SMOP's short term assets (NOK307.8M) exceed its long term liabilities (NOK48.3M).


Debt to Equity History and Analysis

Debt Level: SMOP has more cash than its total debt.

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

Debt Coverage: SMOP's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: SMOP's interest payments on its debt are well covered by EBIT (37.9x coverage).


Balance Sheet


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Dividend

What is Smartoptics Group 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

Smartoptics Group Dividend Yield vs Market
How does Smartoptics Group dividend yield compare to the market?
SegmentDividend Yield
Company (Smartoptics Group)n/a
Market Bottom 25% (NO)3.7%
Market Top 25% (NO)7.7%
Industry Average (Communications)2.0%
Analyst forecast in 3 Years (Smartoptics Group)0%

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

High Dividend: Unable to evaluate SMOP'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 SMOP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SMOP'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 SMOP has not reported any payouts.


Discover strong dividend paying companies

Management

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

2.1yrs

Average board tenure


CEO

Magnus Grenfeldt (53 yo)

no data

Tenure

Mr. Magnus Grenfeldt has been Chief Executive Officer of SmartOptics AS since January 13, 2017. He serves as Chief Executive Officer of Smartoptics Group AS. He joined Smartoptics Group AS in 2016.Mr. Gre...


Board Members

Experienced Board: SMOP's board of directors are not considered experienced ( 2.1 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

OB:SMOP Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
19 May 22Buykr91,000Carina OsmundIndividual7,000kr13.00

Ownership Breakdown

What is the ownership structure of SMOP?
Owner TypeNumber of SharesOwnership Percentage
General Public1,500,0491.6%
Individual Insiders3,618,8463.8%
Institutions16,522,26917.2%
Private Companies74,645,42977.5%

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


Top Shareholders

Top 22 shareholders own 44.43% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
16.46%
Kløvningen AS
15,850,429NOK221.9m0%no data
5.23%
Nordnet AB (publ), Asset Management Arm
5,033,629NOK70.5m0%1.21%
4%
Danske Invest Asset Management AS
3,853,564NOK53.9m0%2.5%
3.94%
Alandsbanken Asset Management Limited
3,798,000NOK53.2m0%8.92%
1.93%
Magnus Grenfeldt
1,857,489NOK26.0m0%no data
1.92%
Avanza Fonder AB
1,844,977NOK25.8m0%0.08%
1.87%
Rasmussengruppen AS
1,800,000NOK25.2m0%no data
1.09%
DNB Asset Management AS
1,044,926NOK14.6m0%0.01%
1%
Clipper A/S
963,391NOK13.5m0%no data
1%
Toluma Norden AS
963,391NOK13.5m0%no data
1%
Varner-Gruppen AS
963,391NOK13.5m0%no data
1%
Viola As
958,477NOK13.4m0%no data
0.68%
Jahatt AS
655,285NOK9.2m0%no data
0.5%
Bergen Kommunale Pensjonskasse
481,695NOK6.7m0%5.18%
0.5%
Jorn Lyseggen
481,695NOK6.7m0%no data
0.5%
Jakob Hatteland Holding AS
481,695NOK6.7m0%no data
0.48%
Swedbank Robur Fonder AB
465,478NOK6.5m0%no data
0.48%
Karl Thedeen
463,078NOK6.5m0%no data
0.29%
Kent Lidstrom
280,762NOK3.9m0%no data
0.29%
Per Burman
280,075NOK3.9m0%no data
0.26%
Mikael Haag
248,747NOK3.5m0%no data
0.0073%
Carina Osmund
7,000NOK98.0k0%no data

Company Information

Smartoptics Group AS's employee growth, exchange listings and data sources


Key Information

  • Name: Smartoptics Group AS
  • Ticker: SMOP
  • Exchange: OB
  • Founded: 1990
  • Industry: Communications Equipment
  • Sector: Tech
  • Implied Market Cap: kr1.348b
  • Shares outstanding: 96.29m
  • Website: https://www.smartoptics.com

Number of Employees


Location

  • Smartoptics Group AS
  • Ryensvingen 7
  • Oslo
  • Oslo
  • 680
  • Norway


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SMOPOB (Oslo Bors)YesShare CapitalNONOKJun 2021
3YLDB (Deutsche Boerse AG)YesShare CapitalDEEURJun 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/03 00:00
End of Day Share Price2022/10/03 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.