Buy Or Sell Opportunity • Apr 28
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.0% to kr80.60. The fair value is estimated to be kr103, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 20%. Upcoming Dividend • Apr 20
Upcoming dividend of kr3.24 per share Eligible shareholders must have bought the stock before 27 April 2026. Payment date: 04 May 2026. Payout ratio and cash payout ratio are on the higher end at 99% and 95% respectively. Trailing yield: 3.9%. Within top quartile of Swedish dividend payers (3.9%). Higher than average of industry peers (1.8%). Announcement • Mar 26
Opter AB (publ), Annual General Meeting, Apr 24, 2026 Opter AB (publ), Annual General Meeting, Apr 24, 2026, at 09:30 W. Europe Standard Time. Location: company`s premises at arenavagen 41, 121 77 johanneshov, Sweden Reported Earnings • Mar 05
Full year 2025 earnings released: EPS: kr3.28 (vs kr2.91 in FY 2024) Full year 2025 results: EPS: kr3.28 (up from kr2.91 in FY 2024). Revenue: kr100.7m (up 10% from FY 2024). Net income: kr19.7m (up 13% from FY 2024). Profit margin: 20% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 02
Dividend increased to kr3.24 Dividend of kr3.24 is 11% higher than last year. Ex-date: 27th April 2026 Payment date: 4th May 2026 Dividend yield will be 4.6%, which is higher than the industry average of 0.5%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio) nor is it covered by cash flows (102% cash payout ratio). The dividend has increased by an average of 26% per year over the past 4 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control, which is less than the 21% EPS growth achieved over the last 5 years. Announcement • Feb 28
Opter AB (publ) announces Annual dividend, payable on May 04, 2026 Opter AB (publ) announced Annual dividend of SEK 3.2400 per share payable on May 04, 2026, ex-date on April 27, 2026 and record date on April 28, 2026. Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: kr1.10 (vs kr0.99 in 3Q 2024) Third quarter 2025 results: EPS: kr1.10 (up from kr0.99 in 3Q 2024). Revenue: kr24.6m (up 9.7% from 3Q 2024). Net income: kr6.63m (up 12% from 3Q 2024). Profit margin: 27% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 25% per year. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr90.40, the stock trades at a trailing P/E ratio of 33x. Average trailing P/E is 35x in the Software industry in Sweden. Total returns to shareholders of 96% over the past three years. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: kr0.65 (vs kr0.74 in 2Q 2024) Second quarter 2025 results: EPS: kr0.65 (down from kr0.74 in 2Q 2024). Revenue: kr24.7m (up 9.5% from 2Q 2024). Net income: kr3.87m (down 13% from 2Q 2024). Profit margin: 16% (down from 20% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year and the company’s share price has also increased by 29% per year. Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: kr0.69 (vs kr0.76 in 1Q 2024) First quarter 2025 results: EPS: kr0.69 (down from kr0.76 in 1Q 2024). Revenue: kr25.2m (up 15% from 1Q 2024). Net income: kr4.15m (down 8.9% from 1Q 2024). Profit margin: 17% (down from 21% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 24
Upcoming dividend of kr2.91 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 05 May 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.7%. Lower than top quartile of Swedish dividend payers (4.0%). Higher than average of industry peers (2.1%). Declared Dividend • Apr 10
Dividend increased to kr2.91 Dividend of kr2.91 is 25% higher than last year. Ex-date: 28th April 2025 Payment date: 5th May 2025 Dividend yield will be 2.8%, which is higher than the industry average of 0.5%. Sustainability & Growth Dividend is not covered by earnings (100% earnings payout ratio) nor is it covered by cash flows (109% cash payout ratio). The dividend has increased by an average of 36% per year over the past 3 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is less than the 34% EPS growth achieved over the last 3 years. New Risk • Mar 16
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 109% Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 109% High level of non-cash earnings (79% accrual ratio). Minor Risk Market cap is less than US$100m (kr651.0m market cap, or US$64.3m). Reported Earnings • Mar 06
Full year 2024 earnings released: EPS: kr2.91 (vs kr2.33 in FY 2023) Full year 2024 results: EPS: kr2.91 (up from kr2.33 in FY 2023). Revenue: kr92.3m (up 18% from FY 2023). Net income: kr17.4m (up 25% from FY 2023). Profit margin: 19% (up from 18% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Mar 01
Opter AB (publ), Annual General Meeting, Apr 25, 2025 Opter AB (publ), Annual General Meeting, Apr 25, 2025. Reported Earnings • Nov 03
Third quarter 2024 earnings released: EPS: kr0.99 (vs kr0.83 in 3Q 2023) Third quarter 2024 results: EPS: kr0.99 (up from kr0.83 in 3Q 2023). Revenue: kr22.6m (up 16% from 3Q 2023). Net income: kr5.92m (up 18% from 3Q 2023). Profit margin: 26% (in line with 3Q 2023). Reported Earnings • Sep 01
Second quarter 2024 earnings released: EPS: kr0.74 (vs kr0.50 in 2Q 2023) Second quarter 2024 results: EPS: kr0.74 (up from kr0.50 in 2Q 2023). Revenue: kr22.9m (up 21% from 2Q 2023). Net income: kr4.44m (up 49% from 2Q 2023). Profit margin: 19% (up from 16% in 2Q 2023). The increase in margin was driven by higher revenue. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: kr0.76 (vs kr0.52 in 1Q 2023) First quarter 2024 results: EPS: kr0.76 (up from kr0.52 in 1Q 2023). Revenue: kr22.1m (up 14% from 1Q 2023). Net income: kr4.56m (up 45% from 1Q 2023). Profit margin: 21% (up from 16% in 1Q 2023). The increase in margin was driven by higher revenue. Upcoming Dividend • Apr 19
Upcoming dividend of kr2.32 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 03 May 2024. Payout ratio is on the higher end at 100%, however this is supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Swedish dividend payers (4.4%). Higher than average of industry peers (0.7%). Buy Or Sell Opportunity • Mar 06
Now 20% undervalued Over the last 90 days, the stock has risen 29% to kr88.00. The fair value is estimated to be kr111, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 26%. Reported Earnings • Feb 26
Full year 2023 earnings released: EPS: kr2.33 (vs kr1.58 in FY 2022) Full year 2023 results: EPS: kr2.33 (up from kr1.58 in FY 2022). Revenue: kr79.2m (up 21% from FY 2022). Net income: kr13.9m (up 47% from FY 2022). Profit margin: 18% (up from 14% in FY 2022). The increase in margin was driven by higher revenue. Reported Earnings • Sep 01
Second quarter 2023 earnings released: EPS: kr0.50 (vs kr0.44 in 2Q 2022) Second quarter 2023 results: EPS: kr0.50 (up from kr0.44 in 2Q 2022). Revenue: kr19.2m (up 18% from 2Q 2022). Net income: kr2.98m (up 12% from 2Q 2022). Profit margin: 16% (in line with 2Q 2022). Upcoming Dividend • Apr 20
Upcoming dividend of kr1.58 per share at 2.5% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 04 May 2023. Payout ratio and cash payout ratio are on the higher end at 100% and 79% respectively. Trailing yield: 2.5%. Lower than top quartile of Swedish dividend payers (4.9%). Higher than average of industry peers (0.4%). Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: kr1.58 (vs kr1.20 in FY 2021) Full year 2022 results: EPS: kr1.58 (up from kr1.20 in FY 2021). Revenue: kr65.8m (up 18% from FY 2021). Net income: kr9.49m (up 38% from FY 2021). Profit margin: 14% (up from 12% in FY 2021). The increase in margin was driven by higher revenue. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Ilona Ostlund was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: kr0.62 (vs kr0.55 in 3Q 2021) Third quarter 2022 results: EPS: kr0.62 (up from kr0.55 in 3Q 2021). Revenue: kr16.2m (up 23% from 3Q 2021). Net income: kr3.71m (up 19% from 3Q 2021). Profit margin: 23% (in line with 3Q 2021). Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Ilona Ostlund was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr1.20. Revenue: kr56.4m (up 20% from FY 2020). Net income: kr6.89m (up 7.0% from FY 2020). Profit margin: 12% (down from 14% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates.