Komplett ASA

Komplett's capital structure shows a debt-to-equity ratio of 0.54, indicating a moderate reliance on debt financing. The company's liquidity position is characterized by a current ratio of 1.07, suggesting limited short-term liquidity cushion. Free cash flow is negative at -7 million NOK, and operating cash flow is 136 million NOK, highlighting a mismatch between operating performance and cash generation.

Profitability metrics are weak, with a return on equity of -2.62% and a return on assets of -1.01%. These figures fall significantly below the typical performance of the computer and electronics retail industry, which usually maintains positive returns. The company reported a net loss of 67 million NOK and an operating loss of 39 million NOK, further underscoring its underperformance.

Geographically, Komplett's revenue is concentrated in its primary market, with no disclosed international segments. The company's exposure to regional economic conditions is high, as it operates in a single market with no diversification across regions. This concentration increases vulnerability to local economic downturns.

The company's growth trajectory is negative, with a net loss in the latest reporting period. Analysts have assigned a mean price target of 11.33 NOK, with a median of 12.00 NOK, but no strong buy recommendations. The absence of positive analyst sentiment and the company's current financial performance suggest a challenging outlook for near-term growth.

Risk factors include a medium liquidity risk, as the company's cash and equivalents of 108 million NOK are insufficient to cover its total debt of 1.37 billion NOK. The risk assessment also notes a low dilution risk, with no significant dilution potential in the near term. However, the company's negative net cash position after subtracting total debt is a key flag.

Recent events include the latest financial report, which disclosed the operating and net losses. No recent filings or transcripts have been provided that indicate significant strategic changes or operational improvements. The company's performance remains a concern for investors and analysts.

Analysts project 53.2% upside to a mean price target of NOK 11.33, significantly above the current market price of NOK 7.40.

Revenue demonstrated a strong 9.3% compound annual growth rate over the four-year period ending in fiscal year 2026.

Gross profit expanded to NOK 2.26 billion in fiscal 2026, indicating maintained top-line pricing power despite operating losses.

Long-term debt decreased to NOK 1.30 billion in fiscal 2026, suggesting a gradual deleveraging trend from previous peaks.

The company generated positive free cash flow of NOK 24 million in fiscal 2025, showing intermittent cash generation capability.

Operating and net margins rank in the bottom quartile of the Computer & Electronics Retailers cohort, indicating poor relative efficiency.

The company faces high credit risk and medium liquidity risk, with a current ratio of only 0.77 as of late 2024.

Revenue kr 3.40B, +0,9% YoY; Operating income +42,1% YoY.

• ▍Revenue kr 3.40B, +0,9% YoY
• ▍Operating income +42,1% YoY
• ▍Net income +25,0% YoY
• ▍Free cash flow +180,9% YoY
• ▍Net margin -1.7%

Revenue kr 5.13B, +5,1% YoY; Operating income −734,8% YoY.

• ▍Revenue kr 5.13B, +5,1% YoY
• ▍Operating income −734,8% YoY
• ▍Net income −2 309,5% YoY
• ▍Free cash flow −774,6% YoY
• ▍Net margin -9.0%

Revenue kr 3.84B, +2,3% YoY; Operating income +80,4% YoY.

• ▍Revenue kr 3.84B, +2,3% YoY
• ▍Operating income +80,4% YoY
• ▍Net income +42,5% YoY
• ▍Free cash flow +557,1% YoY
• ▍Net margin -1.1%

Revenue kr 3.43B, +0,4% YoY; Operating income −30,8% YoY.

• ▍Revenue kr 3.43B, +0,4% YoY
• ▍Operating income −30,8% YoY
• ▍Net income −13,4% YoY
• ▍Free cash flow +200,0% YoY
• ▍Net margin -2.2%

Revenue kr 3.37B; Operating income -kr 57.0M.

• ▍Revenue kr 3.37B
• ▍Operating income -kr 57.0M
• ▍Net margin -2.3%

Revenue kr 4.88B; Operating income kr 69.0M.

• ▍Revenue kr 4.88B
• ▍Operating income kr 69.0M
• ▍Net margin 0.4%

Revenue kr 3.75B; Operating income -kr 51.0M.

• ▍Revenue kr 3.75B
• ▍Operating income -kr 51.0M
• ▍Net margin -1.9%

Revenue kr 3.42B; Operating income -kr 39.0M.

• ▍Revenue kr 3.42B
• ▍Operating income -kr 39.0M
• ▍Net margin -2.0%

Revenue kr 15.78B, +3,1% YoY; Operating income −729,9% YoY.

• ▍Revenue kr 15.78B, +3,1% YoY
• ▍Operating income −729,9% YoY
• ▍Net income −243,8% YoY
• ▍Free cash flow −1 691,7% YoY
• ▍Net margin -4.2%

Revenue kr 15.30B, −3,5% YoY; Operating income +92,4% YoY.

• ▍Revenue kr 15.30B, −3,5% YoY
• ▍Operating income +92,4% YoY
• ▍Net income +81,5% YoY
• ▍Free cash flow +102,6% YoY
• ▍Net margin -1.3%

Revenue kr 15.86B, +8,5% YoY; Operating income −14 850,0% YoY.

• ▍Revenue kr 15.86B, +8,5% YoY
• ▍Operating income −14 850,0% YoY
• ▍Net income −3 146,9% YoY
• ▍Free cash flow −2 578,4% YoY
• ▍Net margin -6.6%

Revenue kr 14.62B, +32,4% YoY; Operating income −98,4% YoY.

• ▍Revenue kr 14.62B, +32,4% YoY
• ▍Operating income −98,4% YoY
• ▍Net income −110,7% YoY
• ▍Free cash flow +177,1% YoY
• ▍Net margin -0.2%