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INDICATIVE · SAMPLE DATA
Companies/Information Technology/APR
APR$79.0059

Appear ASA

Communications & NetworkingVerified
Score breakdown
Valuation+11Profitability+35Sentiment+30Risk penalty-3
Quality breakdown
Key fields100Profile38Conclusion95AI synthesis40Observations23

Appear ASA maintains a conservative capital structure with a debt-to-equity ratio of 0.11 and a current ratio of 3.58, indicating strong liquidity [doc:HA-latest]. The company's liquidity position is further supported by a price-to-book ratio of 5.52 and a price-to-tangible-book ratio of 5.52, suggesting a premium valuation relative to its book value [doc:valuation snapshot]. However, the company's net cash position is negative after subtracting total debt, signaling potential liquidity constraints [doc:risk assessment]. In terms of profitability, Appear ASA reports a return on equity (ROE) of 21.91% and a return on assets (ROA) of 15.05%, both exceeding the typical thresholds for the Communications Equipment industry [doc:valuation snapshot]. The company's operating margin, derived from an operating income of NOK 170.7 million on revenue of NOK 800.9 million, indicates a healthy margin profile [doc:HA-latest]. Geographically, Appear's revenue is concentrated in Norway, with no disclosed international segments, which may limit its exposure to global market dynamics [doc:HA-latest]. The company's product portfolio is centered around the X Platform, which is a key driver of its revenue and competitive positioning [doc:HA-latest]. Looking ahead, Appear ASA is projected to grow revenue by a double-digit percentage in the current fiscal year, supported by increasing demand for its video compression and distribution solutions [doc:outlook]. The company's capital expenditure of NOK -23.86 million suggests a focus on maintaining rather than expanding its asset base [doc:HA-latest]. The company faces moderate liquidity risk due to its net cash position and a medium liquidity rating [doc:risk assessment]. While dilution risk is currently low, the absence of a significant share buyback program or capital return strategy could become a concern if the company requires additional financing [doc:risk assessment]. Recent filings and transcripts have not indicated any material changes in the company's strategic direction or financial outlook [doc:HA-latest].

30-day price · APR+14.39 (+23.7%)
Low$58.51High$82.60Close$75.00As of11 May, 00:00 UTC
Profile
CompanyAppear ASA
TickerAPR.OL
SectorTechnology
BusinessTechnology Equipment
Industry groupTechnology Equipment
IndustryCommunications & Networking
AI analysis

Business. Appear ASA designs and delivers high-capacity solutions for media processing and content delivery, focusing on video compression, encoding, and distribution through its X Platform [doc:HA-latest].

Classification. Appear is classified in the Technology sector under Communications Equipment with a confidence of 0.92 [doc:verified market data].

Appear ASA maintains a conservative capital structure with a debt-to-equity ratio of 0.11 and a current ratio of 3.58, indicating strong liquidity [doc:HA-latest]. The company's liquidity position is further supported by a price-to-book ratio of 5.52 and a price-to-tangible-book ratio of 5.52, suggesting a premium valuation relative to its book value [doc:valuation snapshot]. However, the company's net cash position is negative after subtracting total debt, signaling potential liquidity constraints [doc:risk assessment]. In terms of profitability, Appear ASA reports a return on equity (ROE) of 21.91% and a return on assets (ROA) of 15.05%, both exceeding the typical thresholds for the Communications Equipment industry [doc:valuation snapshot]. The company's operating margin, derived from an operating income of NOK 170.7 million on revenue of NOK 800.9 million, indicates a healthy margin profile [doc:HA-latest]. Geographically, Appear's revenue is concentrated in Norway, with no disclosed international segments, which may limit its exposure to global market dynamics [doc:HA-latest]. The company's product portfolio is centered around the X Platform, which is a key driver of its revenue and competitive positioning [doc:HA-latest]. Looking ahead, Appear ASA is projected to grow revenue by a double-digit percentage in the current fiscal year, supported by increasing demand for its video compression and distribution solutions [doc:outlook]. The company's capital expenditure of NOK -23.86 million suggests a focus on maintaining rather than expanding its asset base [doc:HA-latest]. The company faces moderate liquidity risk due to its net cash position and a medium liquidity rating [doc:risk assessment]. While dilution risk is currently low, the absence of a significant share buyback program or capital return strategy could become a concern if the company requires additional financing [doc:risk assessment]. Recent filings and transcripts have not indicated any material changes in the company's strategic direction or financial outlook [doc:HA-latest].
Key takeaways
  • Appear ASA maintains a strong liquidity position with a current ratio of 3.58 and a low debt-to-equity ratio of 0.11.
  • The company's ROE of 21.91% and ROA of 15.05% indicate robust profitability and efficient use of capital.
  • Appear's revenue is concentrated in Norway, which may limit its exposure to global market dynamics.
  • The company is projected to grow revenue by a double-digit percentage in the current fiscal year.
  • Appear's capital expenditure is negative, suggesting a focus on asset maintenance rather than expansion.
  • --
  • ## RATIONALES
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Financial snapshot
PeriodHA-latest
CurrencyNOK
Revenue$800.9M
Gross profit$579.3M
Operating income$170.7M
Net income$129.2M
R&D—
SG&A—
D&A—
SBC—
Operating cash flow$163.2M
CapEx-$23.9M
Free cash flow$123.7M
Total assets$858.0M
Total liabilities$268.4M
Total equity$589.5M
Cash & equivalents$46.4M
Long-term debt$62.1M
Annual history (last 5)
PeriodRevenueOp IncomeNet IncomeFCF
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Quarterly history (last 4)
PeriodRevenueOp IncomeNet IncomeFCF
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PeriodGross %Op %Net %FCF %
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PeriodAssetsEquityCashDebt
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PeriodOCFCapExFCFSBC
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Valuation
Market price$79.00
Market cap$3.26B
Enterprise value$3.27B
P/E25.2
Reported non-GAAP P/E—
EV/Revenue4.1
EV/Op income19.2
EV/OCF20.0
P/B5.5
P/Tangible book5.5
Tangible book$589.5M
Net cash-$15.7M
Current ratio3.6
Debt/Equity0.1
ROA15.0%
ROE21.9%
Cash conversion1.3%
CapEx/Revenue-3.0%
SBC/Revenue—
Asset intensity—
Dilution ratio0.0%
Risk assessment
Dilution riskLow
Liquidity riskMedium
  • Net cash is negative after subtracting total debt.
Industry benchmarks
Activity: Communications Equipment · cohort 107 companies
MetricAPRActivity
Op margin21.3%-3.3% medp25 -21.6% · p75 7.9%top quartile
Net margin16.1%-3.0% medp25 -20.1% · p75 7.3%top quartile
Gross margin72.3%29.9% medp25 16.5% · p75 43.2%top quartile
CapEx / revenue-3.0%-1.8% medp25 -5.1% · p75 -0.6%below median
Debt / equity11.0%23.4% medp25 2.9% · p75 61.0%below median
Recent coverage
Recent coverage5 article(s) mentioning APR.OL
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Observations
IR observations
Mean price target95.00 NOK
Median price target95.00 NOK
High price target100.00 NOK
Low price target90.00 NOK
Mean recommendation1.50 (1=strong buy, 5=strong sell)
Strong-buy count1.00
Buy count1.00
Hold count0.00
Sell count0.00
Strong-sell count0.00
Mean EPS estimate4.38 NOK
Last actual EPS3.40 NOK
Source data
Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.
Company fundamentalsperiod FQ-7 · history via verified-market-data
no public URL
2026-05-04 13:54 UTC#9de5c9b8
Market quoteclose NOK 79.00 · shares 0.04B diluted
no public URL
2026-05-04 13:54 UTC#358df096
Source: analysis-pipeline (hybrid)Generated: 2026-05-04 13:55 UTCJob: 24463780