OB:TECH

Stock Analysis Report

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Executive Summary

Techstep ASA provides digital workplace services in Norway and Sweden. More Details


Snowflake Analysis

Fair value with mediocre balance sheet.

Share Price & News

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


Latest Share Price and Events

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

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


Market Performance


7 Day Return

-2.5%

TECH

-9.0%

NO Tech

1.1%

NO Market


1 Year Return

55.9%

TECH

106.4%

NO Tech

39.7%

NO Market

Return vs Industry: TECH underperformed the Norwegian Tech industry which returned 95.5% over the past year.

Return vs Market: TECH exceeded the Norwegian Market which returned 26.1% over the past year.


Shareholder returns

TECHIndustryMarket
7 Day-2.5%-9.0%1.1%
30 Day1.3%-9.1%2.9%
90 Day-11.2%11.0%13.0%
1 Year55.9%55.9%108.9%106.4%45.1%39.7%
3 Year39.9%39.9%82.3%75.2%19.5%5.7%
5 Yearn/a218.3%193.5%78.0%43.7%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TECH (NOK4.66) is trading below our estimate of fair value (NOK15.88)

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


Price To Earnings Ratio

PE vs Industry: TECH is unprofitable, so we can't compare its PE Ratio to the XE Tech industry average.

PE vs Market: TECH is unprofitable, so we can't compare its PE Ratio to the Norwegian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TECH's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TECH is good value based on its PB Ratio (1.5x) compared to the XE Tech industry average (1.8x).


Next Steps

Future Growth

How is Techstep forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

5.2%

Forecasted Tech industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Techstep has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Techstep performed over the past 5 years?

-0.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TECH is currently unprofitable.

Growing Profit Margin: TECH is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TECH is unprofitable, and losses have increased over the past 5 years at a rate of 0.3% per year.

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

Earnings vs Industry: TECH is unprofitable, making it difficult to compare its past year earnings growth to the Tech industry (-10.3%).


Return on Equity

High ROE: TECH has a negative Return on Equity (-4.18%), as it is currently unprofitable.


Next Steps

Financial Health

How is Techstep's financial position?


Financial Position Analysis

Short Term Liabilities: TECH's short term assets (NOK292.0M) do not cover its short term liabilities (NOK445.0M).

Long Term Liabilities: TECH's short term assets (NOK292.0M) exceed its long term liabilities (NOK190.7M).


Debt to Equity History and Analysis

Debt Level: TECH's debt to equity ratio (34.4%) is considered satisfactory.

Reducing Debt: TECH's debt to equity ratio has reduced from 628.1% to 34.4% over the past 5 years.


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: TECH has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if TECH has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

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

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TECH's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

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

2.9yrs

Average management tenure


CEO

Jens Haviken (54 yo)

2.92yrs

Tenure

kr3,949,000

Compensation

Mr. Jens Haviken serves as Chief Executive Officer at Techstep ASA since joining on April 01, 2018. He served as Vice President of Services & Solutions at Dustin AB (publ) and Dustin Group AB (publ) from S...


CEO Compensation Analysis

Compensation vs Market: Jens's total compensation ($USD460.00K) is about average for companies of similar size in the Norwegian market ($USD368.03K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Jens Haviken
Chief Executive Officer2.92yrskr3.95m0.055%
NOK 472.0k
Marius Drefvelin
Chief Financial Officerno datakr3.41m0.022%
NOK 188.8k
Mads Vårdal
Chief Innovation Officerno datakr2.59m0.0027%
NOK 23.7k
Erik Haugen
Chief Commercial Officer3.42yrskr1.88mno data
Inge Paulsen
Managing Director of Norway1.58yrskr2.33m0.082%
NOK 708.0k

2.9yrs

Average Tenure

Experienced Management: TECH's management team is considered experienced (2.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Einar Greve
Independent Vice Chairmanno datakr433.00k2.71%
NOK 23.5m
Anders Brandt
Independent Director2.92yrskr250.00k0.98%
NOK 8.5m
Jens Rugseth
Independent Chairman of the Boardno datakr365.00k10.61%
NOK 91.8m
Toril Nag
Independent Director2.92yrskr285.00kno data
Ingrid Leisner
Independent Director5.17yrskr300.00k0.30%
NOK 2.6m

2.9yrs

Average Tenure

58yo

Average Age

Experienced Board: TECH's board of directors are not considered experienced ( 2.9 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 been diluted in the past year, with total shares outstanding growing by 12.6%.


Top Shareholders

Company Information

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


Key Information

  • Name: Techstep ASA
  • Ticker: TECH
  • Exchange: OB
  • Founded: NaN
  • Industry: Technology Hardware, Storage and Peripherals
  • Sector: Tech
  • Market Cap: kr865.146m
  • Shares outstanding: 183.29m
  • Website: https://www.techstepasa.no

Number of Employees


Location

  • Techstep ASA
  • BrynsallEen 4
  • Oslo
  • Oslo
  • 667
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TECHOB (Oslo Bors)YesOrdinary SharesNONOKFeb 2012
TECHOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKFeb 2012
B1TDB (Deutsche Boerse AG)YesOrdinary SharesDEEURFeb 2012

Biography

Techstep ASA provides digital workplace services in Norway and Sweden. It offers mobile hardware, service, support, and mobility consultancy services; and software as a service telecom expense management m...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/08 17:20
End of Day Share Price2021/03/08 00:00
Earnings2020/12/31
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.