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

NOTE is good value based on its Price-To-Earnings Ratio (13.8x) compared to the peer average (27.7x).

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

NOTE is good value based on its Price-To-Earnings Ratio (13.8x) compared to the European Electronic industry average (17.5x).

What is NOTE'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.

NOTE is good value based on its Price-To-Earnings Ratio (13.8x) compared to the estimated Fair Price-To-Earnings Ratio (25.5x).

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

NOTE (SEK126.4) is trading below our estimate of [[fair value]] (SEK178.08)

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

Insufficient data to show price forecast.

NOTE (OM:NOTE) - Stock Price, News & Analysis

NOTE Stock Overview

Provides electronics manufacturing services in Sweden, Finland, the United Kingdom, Bulgaria, Estonia, China, and internationally. More details

NOTE fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	4/6
Past Performance	2/6
Financial Health	6/6
Dividends	0/6

Rewards

Trading at 29% below our estimate of its fair value

Earnings are forecast to grow 20.02% per year

Trading at good value compared to peers and industry

Risk Analysis

Significant insider selling over the past 3 months

NOTE AB (publ) Competitors

Hanza

OM:HANZA

SEK 2.9b

Ependion

OM:EPEN

SEK 2.7b

Dustin Group

OM:DUST

SEK 2.8b

Pricer

OM:PRIC B

SEK 1.8b

Price History & Performance

Summary of all time highs, changes and price drops for NOTE
Historical stock prices
Current Share Price	SEK 126.40
52 Week High	SEK 176.80
52 Week Low	SEK 110.80
Beta	1.15
11 Month Change	0.80%
3 Month Change	-5.11%
1 Year Change	-22.26%
33 Year Change	-36.29%
5 Year Change	210.18%
Change since IPO	83.19%

Recent updates

Some May Be Optimistic About NOTE's (STO:NOTE) Earnings

Oct 22

Earnings Working Against NOTE AB (publ)'s (STO:NOTE) Share Price

Oct 15

NOTE (STO:NOTE) Has A Pretty Healthy Balance Sheet

Sep 20

Does NOTE (STO:NOTE) Deserve A Spot On Your Watchlist?

Mar 15

Returns on Capital Paint A Bright Future For NOTE (STO:NOTE)

Jan 30

Do NOTE's (STO:NOTE) Earnings Warrant Your Attention?

Dec 09

Should You Be Adding NOTE (STO:NOTE) To Your Watchlist Today?

Oct 31

Here's Why We Think NOTE (STO:NOTE) Might Deserve Your Attention Today

Jun 17

Is NOTE (STO:NOTE) Using Too Much Debt?

Feb 01

Capital Investments At NOTE (STO:NOTE) Point To A Promising Future

Sep 01

Is Now The Time To Put NOTE (STO:NOTE) On Your Watchlist?

Aug 04

Is NOTE (STO:NOTE) Using Too Much Debt?

Jul 15

With EPS Growth And More, NOTE (STO:NOTE) Is Interesting

May 04

The Trend Of High Returns At NOTE (STO:NOTE) Has Us Very Interested

Apr 12

NOTE (STO:NOTE) Has A Rock Solid Balance Sheet

Mar 29

What Kind Of Shareholders Hold The Majority In NOTE AB (publ)'s (STO:NOTE) Shares?

Mar 14

Is NOTE AB (publ)'s(STO:NOTE) Recent Stock Performance Tethered To Its Strong Fundamentals?

Mar 01

Shareholders of NOTE (STO:NOTE) Must Be Delighted With Their 631% Total Return

Feb 15

Shareholder Returns

	NOTE	SE Electronic	SE Market
7D	-1.8%	-3.2%	-2.1%
1Y	-22.3%	-3.0%	10.8%

Return vs Industry: NOTE underperformed the Swedish Electronic industry which returned -0.8% over the past year.

Return vs Market: NOTE underperformed the Swedish Market which returned 12.5% over the past year.

Price Volatility

Is NOTE's price volatile compared to industry and market?
NOTE volatility
NOTE Average Weekly Movement	6.0%
Electronic Industry Average Movement	6.0%
Market Average Movement	5.6%
10% most volatile stocks in SE Market	11.2%
10% least volatile stocks in SE Market	3.3%

Stable Share Price: NOTE has not had significant price volatility in the past 3 months compared to the Swedish market.

Volatility Over Time: NOTE's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1990	1,500	Johannes Lind-Widestam	www.note-ems.com

NOTE AB (publ), together with its subsidiaries, provides electronics manufacturing services in Sweden, Finland, the United Kingdom, Bulgaria, Estonia, China, and internationally. The company offers production technology services in close collaboration with customers, such as component selection, developing test equipment, prototyping, and serial production. It also produces PCBAs, subassemblies, and box build products.

NOTE AB (publ) Fundamentals Summary

How do NOTE's earnings and revenue compare to its market cap?
NOTE fundamental statistics
Market cap	SEK 3.66b
Earnings (TTM)	SEK 265.96m
Revenue (TTM)	SEK 3.96b

13.8x

P/E Ratio

0.9x

P/S Ratio

Is NOTE overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
NOTE income statement (TTM)
Revenue	SEK 3.96b
Cost of Revenue	SEK 3.48b
Gross Profit	SEK 475.79m
Other Expenses	SEK 209.83m
Earnings	SEK 265.96m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

Jan 27, 2025

Earnings per share (EPS)	9.18
Gross Margin	12.03%
Net Profit Margin	6.72%
Debt/Equity Ratio	33.7%

How did NOTE perform over the long term?

See historical performance and comparison

NOTE Stock Overview

Rewards

Risk Analysis

NOTE AB (publ) Competitors

OM:HANZA

SEK 2.9b

OM:EPEN

SEK 2.7b

OM:DUST

SEK 2.8b

OM:PRIC B

SEK 1.8b

Price History & Performance

Recent News & Updates

NOTE AB (publ) to Report Q2, 2025 Results on Jul 14, 2025

CEO & President recently bought kr505k worth of stock

Some May Be Optimistic About NOTE's (STO:NOTE) Earnings

Earnings Working Against NOTE AB (publ)'s (STO:NOTE) Share Price

Third quarter 2024 earnings: EPS and revenues exceed analyst expectations

NOTE (STO:NOTE) Has A Pretty Healthy Balance Sheet

Recent updates

NOTE AB (publ) to Report Q2, 2025 Results on Jul 14, 2025

CEO & President recently bought kr505k worth of stock

Some May Be Optimistic About NOTE's (STO:NOTE) Earnings

Earnings Working Against NOTE AB (publ)'s (STO:NOTE) Share Price

Third quarter 2024 earnings: EPS and revenues exceed analyst expectations

NOTE (STO:NOTE) Has A Pretty Healthy Balance Sheet

CEO & President recently sold kr5.0m worth of stock

Independent Director recently bought kr250k worth of stock

CEO & President recently sold kr1.8m worth of stock

Second quarter 2024 earnings released: EPS: kr2.35 (vs kr2.73 in 2Q 2023)

NOTE AB (publ) to Report Fiscal Year 2024 Results on Jan 27, 2025

Director recently sold kr110m worth of stock

CEO & President recently sold kr2.6m worth of stock

First quarter 2024 earnings released: EPS: kr2.21 (vs kr2.93 in 1Q 2023)

NOTE AB (publ) to Report Nine Months, 2024 Results on Oct 15, 2024

Does NOTE (STO:NOTE) Deserve A Spot On Your Watchlist?

Less than half of directors are independent

Full year 2023 earnings released: EPS: kr11.04 (vs kr8.79 in FY 2022)

Returns on Capital Paint A Bright Future For NOTE (STO:NOTE)

NOTE AB (publ) Adjusts the Guidance for the Full Year 2023

Do NOTE's (STO:NOTE) Earnings Warrant Your Attention?

Director recently bought kr37m worth of stock

CEO & President recently sold kr7.9m worth of stock

NOTE AB (publ), Annual General Meeting, Apr 18, 2024

Third quarter 2023 earnings released: EPS: kr2.24 (vs kr1.38 in 3Q 2022)

NOTE AB (publ), Annual General Meeting, Apr 18, 2024

NOTE AB (publ) to Report Fiscal Year 2023 Results on Jan 29, 2024

Director recently bought kr513k worth of stock

Director recently bought kr2.3m worth of stock

Second quarter 2023 earnings released: EPS: kr2.73 (vs kr2.04 in 2Q 2022)

Investor sentiment deteriorates as stock falls 20%

NOTE AB (publ) acquired Dvr Limited from Hellings family for £9 million.

Employee Representative Director recently sold kr144k worth of stock

CEO & President recently bought kr999k worth of stock

First quarter 2023 earnings released: EPS: kr2.93 (vs kr1.95 in 1Q 2022)

An unknown buyer acquired a 4% stake in NOTE AB (publ) from Johannes Lind-Widestam for SEK 4.4 million.

Full year 2022 earnings released: EPS: kr8.79 (vs kr6.79 in FY 2021)

NOTE AB (publ) to Report Q2, 2023 Results on Jul 13, 2023

Note AB (Publ) Provides Sales Guidance for the Full Year of 2023

Note AB (Publ) Confirms Earnings Guidance for the Fourth Quarter and Full Year of 2022

Insufficient new directors

Should You Be Adding NOTE (STO:NOTE) To Your Watchlist Today?

NOTE AB (publ) to Report Q1, 2023 Results on Apr 19, 2023

Third quarter 2022 earnings released: EPS: kr1.38 (vs kr1.68 in 3Q 2021)

NOTE AB (publ) to Report Fiscal Year 2022 Results on Jan 27, 2023

Second quarter 2022 earnings released: EPS: kr2.04 (vs kr1.65 in 2Q 2021)

NOTE AB (publ) Provides Sales Guidance for the Second Half and Full Year 2022

Here's Why We Think NOTE (STO:NOTE) Might Deserve Your Attention Today

Insufficient new directors

NOTE's plant in China is opening its operations earlier than expected

Director recently bought kr1.1m worth of stock

Insufficient new directors

Is NOTE (STO:NOTE) Using Too Much Debt?

NOTE AB (publ) to Report Q2, 2022 Results on Jul 14, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

NOTE AB (publ) to Report Q3, 2022 Results on Oct 18, 2022

NOTE AB (publ)(OM:NOTE) dropped from OMX Nordic Small Cap Index

Investor sentiment improved over the past week

Independent Director recently bought kr448k worth of stock