Strongpoint ASA

Strongpoint ASA has a market capitalization of NOK 1.37 billion and a price-to-book ratio of 3.03, indicating a premium valuation relative to its book value. The company's liquidity position is characterized by a current ratio of 1.16, suggesting limited short-term liquidity cushion, while its cash and equivalents of NOK 25.6 million are insufficient to cover its long-term debt of NOK 213.3 million. Free cash flow is negative at NOK -19.4 million, reflecting operational cash outflows after capital expenditures.

Profitability metrics show a challenging performance, with a net loss of NOK 21.2 million and an operating loss of NOK 19.6 million in the latest reporting period. Return on equity is negative at -4.67%, and return on assets is also negative at -2.22%, indicating poor capital efficiency and asset utilization. Gross profit of NOK 130.9 million represents 44% of revenue, which is below the industry median for computer hardware firms, suggesting margin compression or competitive pricing pressures.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification in the latest financials. This lack of diversification increases exposure to regional economic shifts and customer concentration risks. No material geographic breakdown is available in the input data, but the absence of international revenue reporting is notable.

Looking ahead, revenue is projected to grow to NOK 1.5 billion in the next fiscal year, a 9.1% increase from the current NOK 1.36 billion. However, the company is expected to continue reporting negative earnings, with a mean EPS estimate of -NOK 0.35. Analysts have set a mean price target of NOK 25.00, which is below the current market price of NOK 30.62, suggesting a bearish outlook.

Risk factors include a negative net cash position after subtracting total debt, which raises concerns about liquidity and financial flexibility. The company's debt-to-equity ratio of 0.47 is relatively low, but the negative free cash flow and operating cash flow of NOK 5.6 million indicate limited capacity to service debt or fund growth initiatives. Dilution risk is assessed as low, with no near-term pressure from share issuance or convertible instruments.

Recent filings and transcripts show no material changes in the company's strategic direction or capital structure. The latest earnings report highlights continued investment in R&D and product development, but these efforts have not yet translated into profitability. Analysts remain cautious, with all price targets below the current market price, reflecting skepticism about the company's ability to sustain its valuation.

Analysts project 135.8% upside to a consensus price target of 25.0 NOK, significantly above the current market price of 10.6 NOK.

Revenue grew at an 8.5% compound annual growth rate over the four-year period ending in FY2026.

The company faces high credit risk and medium liquidity risk, with a current ratio of only 0.70 as of late 2025.

Operating and net margins rank in the bottom quartile of the Computer Hardware cohort, indicating poor profitability relative to peers.

Cash conversion is negative at -0.26, falling below the cohort median of 1.0 and highlighting weak cash generation efficiency.

Revenue kr 342.3M, −1,2% YoY; Operating income −74,9% YoY.

• ▍Revenue kr 342.3M, −1,2% YoY
• ▍Operating income −74,9% YoY
• ▍Net income −2,1% YoY
• ▍Free cash flow +44,3% YoY
• ▍Net margin -2.5%

Revenue kr 342.4M, +0,8% YoY; Operating income −208,2% YoY.

• ▍Revenue kr 342.4M, +0,8% YoY
• ▍Operating income −208,2% YoY
• ▍Net income −417,1% YoY
• ▍Free cash flow +10,7% YoY
• ▍Net margin -3.1%

Revenue kr 319.5M, +2,0% YoY; Operating income +46,3% YoY.

• ▍Revenue kr 319.5M, +2,0% YoY
• ▍Operating income +46,3% YoY
• ▍Net income +538,9% YoY
• ▍Free cash flow +288,1% YoY
• ▍Net margin 5.3%

Revenue kr 350.4M, +17,9% YoY; Operating income +83,6% YoY.

• ▍Revenue kr 350.4M, +17,9% YoY
• ▍Operating income +83,6% YoY
• ▍Net income +85,5% YoY
• ▍Free cash flow +77,7% YoY
• ▍Net margin -0.9%

Revenue kr 346.6M; Operating income -kr 375.0k.

• ▍Revenue kr 346.6M
• ▍Operating income -kr 375.0k
• ▍Net margin -2.4%

Revenue kr 339.8M; Operating income -kr 5.3M.

• ▍Revenue kr 339.8M
• ▍Operating income -kr 5.3M
• ▍Net margin -0.6%

Revenue kr 313.1M; Operating income kr 2.2M.

• ▍Revenue kr 313.1M
• ▍Operating income kr 2.2M
• ▍Net margin 0.9%

Revenue kr 297.2M; Operating income -kr 19.6M.

• ▍Revenue kr 297.2M
• ▍Operating income -kr 19.6M
• ▍Net margin -7.1%

Revenue kr 1.36B, +3,8% YoY; Operating income +57,5% YoY.

• ▍Revenue kr 1.36B, +3,8% YoY
• ▍Operating income +57,5% YoY
• ▍Net income +84,4% YoY
• ▍Free cash flow +90,7% YoY
• ▍Net margin -0.4%

Revenue kr 1.31B, −2,5% YoY; Operating income −0,1% YoY.

• ▍Revenue kr 1.31B, −2,5% YoY
• ▍Operating income −0,1% YoY
• ▍Net income +6,6% YoY
• ▍Free cash flow +60,4% YoY
• ▍Net margin -2.4%

Revenue kr 1.34B, −2,2% YoY; Operating income −205,6% YoY.

• ▍Revenue kr 1.34B, −2,2% YoY
• ▍Operating income −205,6% YoY
• ▍Net income −217,5% YoY
• ▍Free cash flow −464,1% YoY
• ▍Net margin -2.5%

Revenue kr 1.37B, +39,9% YoY; Operating income +35,8% YoY.

• ▍Revenue kr 1.37B, +39,9% YoY
• ▍Operating income +35,8% YoY
• ▍Net income −84,7% YoY
• ▍Free cash flow +145,1% YoY
• ▍Net margin 2.1%