Cash flow Protector Forsikring ASA

Stocks

PROT

NO0010209331

Multiline Insurance & Brokers

Real-time Oslo Bors 07:59:48 2026-09-25 EDT			5-day change	1st Jan Change
432.20 ^NOK	+0.05%		-3.74%	-17.52%

09-20	Protector Forsikring ASA(OB:PROT) dropped from Oslo OBX Total Return Index	CI
09-11	Odin Norden rose 3.15 percent in August - Valmet jumped on break-up plans	FW

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Published financial data: PROTECTOR FORSIKRING ASA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (NOK)	2022 (NOK)	2023 (NOK)	2024 (NOK)	2025 (NOK)
Premiums and Annuity Revenues	4.92B	5.71B	8.8B	11.14B	12.96B
Total Interest And Dividend Income	269M	423M	278M	642M	851M
Gain (Loss) on Sale of Investments, Total (Rev)	599M	33.48M	729M	287M	843M
Other Revenues, Total	21.54M	32.74M	-	-	-
Total Revenues	5.81B	6.2B	9.81B	12.06B	14.66B
Policy Benefits	3.81B	4.53B	6.71B	8.48B	9.33B
Selling General & Admin Expenses, Total	536M	567M	829M	1.02B	1.28B
Other Operating Expenses	179M	193M	273M	435M	319M
Reinsurance Income Or Expense	131M	102M	-	-	-
Total Operating Expenses	4.39B	5.19B	7.81B	9.93B	10.92B
Operating Income	1.42B	1.01B	2B	2.14B	3.73B
Interest Expense, Total	-	-	-63.3M	-83M	-295M
Other Non Operating Income (Expenses)	-1K	1K	100K	-	-1M
EBT, Excl. Unusual Items	1.42B	1.01B	1.93B	2.05B	3.44B
EBT, Incl. Unusual Items	1.42B	1.01B	1.93B	2.05B	3.44B
Income Tax Expense	252M	167M	439M	513M	791M
Earnings From Continuing Operations	1.16B	845M	1.49B	1.54B	2.65B
Earnings Of Discontinued Operations	67.43M	-2.52M	15.1M	-	-
Net Income to Company	1.23B	843M	1.51B	1.54B	2.65B
Net Income - (IS)	1.23B	843M	1.51B	1.54B	2.65B
Preferred Dividend and Other Adjustments	-	-	-	-	32M
Net Income to Common Incl Extra Items	1.23B	843M	1.51B	1.54B	2.61B
Net Income to Common Excl. Extra Items	1.16B	845M	1.49B	1.54B	2.61B
Per Share Items
Net EPS - Basic	14.96	10.23	18.31	18.67	31.71
Basic EPS - Continuing Operations	14.14	10.26	18.13	18.67	31.71
Basic Weighted Average Shares Outstanding	82.35M	82.35M	82.41M	82.43M	82.43M
Net EPS - Diluted	14.96	10.23	18.31	18.67	31.71
Diluted EPS - Continuing Operations	14.14	10.26	18.13	18.67	31.71
Diluted Weighted Average Shares Outstanding	82.35M	82.35M	82.41M	82.43M	82.43M
Normalized Basic EPS	10.75	7.68	14.66	15.56	26.06
Normalized Diluted EPS	10.75	7.68	14.66	15.56	26.06
Dividend Per Share	7	-	-	-	14
Payout Ratio	53.53	112.4	54.59	48.21	37.38
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	1.45B	1.04B	2.03B	2.18B	3.78B
EBITA	1.43B	1.03B	2.01B	2.16B	3.76B
EBIT	1.42B	1.01B	2B	2.14B	3.73B
Effective Tax Rate - (Ratio)	17.77	16.47	22.72	25	23.01
Total Current Taxes	272M	226M	413M	625M	660M
Total Deferred Taxes	-2.89M	-78.81M	42.7M	-112M	131M
Normalized Net Income	885M	633M	1.21B	1.28B	2.15B
Interest on Long-Term Debt	-	-	7.1M	5M	191M
Non-Cash Pension Expense	925K	-	-	-	-
Supplemental Operating Expense Items
Selling and Marketing Expenses	362M	387M	-	-	-
General and Administrative Expenses	174M	180M	-	-	-

Fiscal Period: December	2021 (NOK)	2022 (NOK)	2023 (NOK)	2024 (NOK)	2025 (NOK)
Assets
Trading Asset Securities, Total	13.07B	14.19B	18.01B	22B	25.68B
Real Estate Owned	-	-	-	-	-
Total investments	13.07B	14.19B	18.01B	22B	25.68B
Cash And Equivalents	291M	189M	324M	456M	360M
Reinsurance Recoverable - (IS)	3.15B	3.07B	1.09B	1.32B	869M
Other Receivables - (Insurance Template)	862M	1.22B	82.5M	182M	696M
Gross Property Plant And Equipment	76.28M	84.97M	268M	279M	567M
Accumulated Depreciation	-42.29M	-56M	-155M	-195M	-188M
Net Property Plant And Equipment	33.99M	28.97M	113M	84M	379M
Other Intangibles, Total	73.34M	95.94M	106M	116M	118M
Other Current Assets, Total	1.77B	1.15B	1.14B	494M	450M
Other Long-Term Assets, Total	-	1K	300K	-	1M
Total Assets	19.25B	19.95B	20.87B	24.65B	28.56B
Liabilities
Accrued Expenses, Total	310M	347M	379M	440M	553M
Insurance And Annuity Liabilities	41.04M	45.23M	-	-	-
Unpaid Claims	8.44B	9.45B	12.56B	15.77B	15.56B
Unearned Premiums	1.58B	2.11B	-	-	-
Reinsurance Payable - (BS)	2.24B	2.09B	-	-	-
Current Portion of Leases	-	-	-	-	35M
Long-Term Debt	1.38B	1.24B	1.89B	1.89B	2.34B
Long-Term Leases	-	-	-	-	320M
Current Income Taxes Payable	191M	120M	161M	22M	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	872M	581M	500M	33M	70M
Unearned Revenue Non Current	231M	220M	-	-	-
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non-Current	122M	42.77M	191M	79M	211M
Other Non Current Liabilities	263M	247M	664M	981M	1.8B
Total Liabilities	15.66B	16.5B	16.35B	19.22B	20.88B
Common Stock, Total	82.5M	82.5M	82.5M	83M	83M
Additional Paid In Capital	268M	268M	268M	268M	268M
Retained Earnings	3.22B	3.09B	4.18B	5.09B	6.62B
Treasury Stock	-128K	-123K	-100K	-	-
Comprehensive Income and Other	9.96M	-	-	-1M	699M
Total Common Equity	3.58B	3.44B	4.53B	5.44B	7.67B
Total Equity	3.58B	3.44B	4.53B	5.44B	7.67B
Total Liabilities And Equity	19.25B	19.95B	20.87B	24.65B	28.56B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	82.37M	82.38M	82.44M	82.43M	82.43M
ECS Total Common Shares Outstanding	82.37M	82.38M	82.44M	82.43M	82.43M
Book Value / Share	43.49	41.82	54.93	65.98	84.6
Tangible Book Value	3.51B	3.35B	4.42B	5.32B	7.56B
Tangible Book Value Per Share	42.6	40.65	53.64	64.58	83.17
Total Debt	1.38B	1.24B	1.89B	1.89B	2.7B
Net Debt	1.09B	1.06B	1.57B	1.44B	2.34B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	76.06M	84.76M	88.7M	83M	125M
Full Time Employees	411	436	526	685	681
Part Time Employees	-	-	-	72	47

Fiscal Period: December	2021 (NOK)	2022 (NOK)	2023 (NOK)	2024 (NOK)	2025 (NOK)
Net Income	1.23B	843M	1.51B	1.54B	2.65B
Depreciation, Depletion & Amortization	15.15M	13.65M	47.9M	54M	59M
Amortization of Goodwill and Intangible Assets - (CF)	14.34M	13.71M	18.2M	23M	27M
Total Depreciation, Depletion & Amortization	29.5M	27.36M	66.1M	77M	86M
Amortization of Deferred Charges, Total	-	-	-	-	-
Other Operating Activities	-292M	-992M	-1.55B	-322M	-2.83B
Cash from Operations	970M	-121M	27.7M	1.29B	-95M
Capital Expenditure	-52.82M	-43.75M	-71.7M	-72M	-106M
Purchase / Sale of Intangible Assets	-	-	-	-	-
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-52.82M	-43.75M	-71.7M	-72M	-106M
Long-Term Debt Issued, Total	351M	-	647M	-	1.64B
Total Debt Issued	351M	-	647M	-	1.64B
Long-Term Debt Repaid, Total	-439M	-140M	-	-	-500M
Total Debt Repaid	-439M	-140M	-	-	-500M
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-660M	-947M	-824M	-742M	-989M
Common & Preferred Stock Dividends Paid	-660M	-947M	-824M	-742M	-989M
Other Financing Activities, Total	-61.62M	-66.65M	-95M	-166M	-209M
Cash from Financing	-810M	-1.15B	-272M	-908M	-55M
Foreign Exchange Rate Adjustments	-12.52M	-7.89M	68.1M	31M	1M
Miscellaneous Cash Flow Adjustments	-	-	-	1M	-
Net Change in Cash	95.08M	-1.33B	-248M	346M	-255M
Supplemental Items
Cash Interest Paid	61.62M	66.65M	95M	166M	208M
Cash Income Tax Paid (Refund)	174M	301M	363M	806M	907M
Net Debt Issued / Repaid	-88.37M	-140M	647M	-	1.14B
Levered Free Cash Flow	420M	910M	-292M	-17.66B	-23.42B
Unlevered Free Cash Flow	420M	910M	-253M	-17.61B	-23.24B
Change In Net Working Capital	442M	-294M	1.49B	18.95B	25.55B

Fiscal Period: December	2021 (NOK)	2022 (NOK)	2023 (NOK)	2024 (NOK)	2025 (NOK)
Profitability
Return on Assets	4.92	3.23	6.64	5.86	8.77
Return on Total Capital	18.69	13.1	21.84	19.41	26.27
Return On Equity %	35.23	24.06	36.05	30.88	39.31
Return on Common Equity	35.23	24.06	36.05	30.88	38.84
Margin Analysis
Gross Profit Margin %	34.42	26.92	31.59	29.72	36.35
SG&A Margin	9.22	9.14	8.45	8.42	8.7
EBITDA Margin %	24.89	16.75	20.68	18.04	25.76
EBITA Margin %	24.63	16.53	20.54	17.89	25.66
EBIT Margin %	24.38	16.31	20.35	17.7	25.47
Income From Continuing Operations Margin %	20.05	13.62	15.23	12.76	18.06
Net Income Margin %	21.21	13.58	15.39	12.76	18.06
Net Avail. For Common Margin %	20.05	13.62	15.23	12.76	17.84
Normalized Net Income Margin	15.24	10.19	12.32	10.63	14.66
Levered Free Cash Flow Margin	7.22	14.67	-2.98	-146.37	-159.84
Unlevered Free Cash Flow Margin	7.22	14.67	-2.57	-145.94	-158.58
Asset Turnover
Asset Turnover	0.32	0.32	0.52	0.53	0.55
Fixed Assets Turnover	180.32	197.07	79.98	122.48	63.3
Receivables Turnover (Average Receivables)	7.91	6.27	-	-	-
Short Term Liquidity
Current Ratio	1.4	1.35	1.52	1.5	1.71
Quick Ratio	1.04	1.06	1.35	1.39	1.63
Operating Cash Flow to Current Liabilities	0.07	-0.01	0	0.08	-0.01
Days Sales Outstanding (Average Receivables)	46.15	58.23	-	-	-
Average Days Payable Outstanding	929.76	894.35	617.57	611.45	612.89
Long Term Solvency
Total Debt/Equity	38.65	36.13	41.77	34.79	35.12
Total Debt / Total Capital	27.88	26.54	29.46	25.81	25.99
LT Debt/Equity	38.65	36.13	41.77	34.79	34.66
Long-Term Debt / Total Capital	27.88	26.54	29.46	25.81	25.65
Total Liabilities / Total Assets	81.39	82.73	78.31	77.94	73.13
EBIT / Interest Expense	-	-	31.54	25.72	12.65
EBITDA / Interest Expense	-	-	32.59	26.65	12.95
(EBITDA - Capex) / Interest Expense	-	-	31.45	25.78	12.59
Total Debt / EBITDA	0.96	1.2	0.92	0.86	0.71
Net Debt / EBITDA	0.76	1.02	0.76	0.65	0.61
Total Debt / (EBITDA - Capex)	0.99	1.25	0.95	0.88	0.73
Net Debt / (EBITDA - Capex)	0.79	1.06	0.79	0.67	0.63
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.65	6.79	41.94	22.99	21.48
Gross Profit, 1 Yr. Growth %	25.16	-16.47	21.34	15.75	48.55
EBITDA, 1 Yr. Growth %	34.67	-28.11	14.46	7.3	61.53
EBITA, 1 Yr. Growth %	35.02	-28.3	14.57	7.15	62
EBIT, 1 Yr. Growth %	35.56	-28.55	14.42	6.96	62.45
Earnings From Cont. Operations, 1 Yr. Growth %	31.62	-27.42	9.12	3.01	68.21
Net Income, 1 Yr. Growth %	25.83	-31.6	9.45	1.99	68.21
Normalized Net Income, 1 Yr. Growth %	35.56	-28.55	13.02	6.16	64.77
Diluted EPS Before Extra, 1 Yr. Growth %	30.82	-27.42	9.08	2.99	69.74
Net Property, Plant and Equip., 1 Yr. Growth %	11.66	-14.78	-14.45	-25.66	351.19
Accounts Receivable, 1 Yr. Growth %	40.76	55.27	-	-	-
Total Assets, 1 Yr. Growth %	14.9	3.65	24.85	18.11	15.83
Common Equity, 1 Yr. Growth %	18.2	-3.84	20.39	20.09	32.58
Tangible Book Value, 1 Yr. Growth %	17.87	-4.56	20.64	20.35	33.22
Cash From Operations, 1 Yr. Growth %	-2.42K	-112.51	-122.82	4.52K	-107.34
Capital Expenditures, 1 Yr. Growth %	234.19	-17.16	63.7	0	47.22
Levered Free Cash Flow, 1 Yr. Growth %	-155.12	116.93	-126.56	-199.66	-632.64
Unlevered Free Cash Flow, 1 Yr. Growth %	-155.12	116.93	-122.52	-199.15	-612.99
Dividend Per Share, 1 Yr. Growth %	133.33	-	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	16.22	6.22	29.94	32.12	22.23
Gross Profit, 2 Yr. CAGR %	138.32	2.24	24.48	18.51	31.13
EBITDA, 2 Yr. CAGR %	399.32	-1.61	18.45	10.81	36.43
EBITA, 2 Yr. CAGR %	345.96	-1.61	18.67	10.78	36.64
EBIT, 2 Yr. CAGR %	343.72	-1.58	18.73	10.61	36.76
Earnings From Cont. Operations, 2 Yr. CAGR %	291.27	-2.26	13.27	6.02	33.08
Net Income, 2 Yr. CAGR %	1.55K	-7.23	10.68	5.64	32.42
Normalized Net Income, 2 Yr. CAGR %	343.72	-1.58	16.84	9.52	33.34
Diluted EPS Before Extra, 2 Yr. CAGR %	289.86	-2.56	13.22	5.98	32.26
Net Property, Plant and Equip., 2 Yr. CAGR %	-0.18	-2.45	82.4	-20.29	83.14
Accounts Receivable, 2 Yr. CAGR %	10.31	47.84	-	-	-
Total Assets, 2 Yr. CAGR %	14.26	9.13	4.14	21.43	16.96
Common Equity, 2 Yr. CAGR %	33.19	6.62	12.44	20.25	30.17
Tangible Book Value, 2 Yr. CAGR %	32.96	6.06	12.27	20.51	30.7
Cash From Operations, 2 Yr. CAGR %	-17.13	70.54	-83.1	226.48	84.2
Capital Expenditures, 2 Yr. CAGR %	5.12	66.39	16.51	28.21	21.34
Levered Free Cash Flow, 2 Yr. CAGR %	129.7	9.34	-16.57	300.69	14.98
Unlevered Free Cash Flow, 2 Yr. CAGR %	129.7	9.34	-22.43	296.25	14.4
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	27.17	12.99	21.28	27.58	28.47
Gross Profit, 3 Yr. CAGR %	128.96	68.03	24.7	21.49	27.78
EBITDA, 3 Yr. CAGR %	364.44	161.7	23.63	14.6	28.66
EBITA, 3 Yr. CAGR %	291.14	142.49	23.89	14.68	28.83
EBIT, 3 Yr. CAGR %	289.83	141.4	24.09	14.66	28.85
Earnings From Cont. Operations, 3 Yr. CAGR %	283	123.14	19.08	9.73	24.56
Net Income, 3 Yr. CAGR %	60.97	470.71	15.51	7.7	24.26
Normalized Net Income, 3 Yr. CAGR %	289.84	141.4	22.77	13.15	26.18
Diluted EPS Before Extra, 3 Yr. CAGR %	285.43	122.61	18.81	9.7	24.03
Net Property, Plant and Equip., 3 Yr. CAGR %	9.69	-5.3	54.88	35.19	42.06
Accounts Receivable, 3 Yr. CAGR %	18.15	23.63	-	-	-
Total Assets, 3 Yr. CAGR %	14.47	10.61	7.61	8.6	19.53
Common Equity, 3 Yr. CAGR %	20.78	19.49	14.33	14.94	26.83
Tangible Book Value, 3 Yr. CAGR %	20.43	19.05	14.1	14.9	27.27
Cash From Operations, 3 Yr. CAGR %	12.3	-55.87	-12.77	10.09	-7.85
Capital Expenditures, 3 Yr. CAGR %	10.6	-2.9	65.55	10.88	34.26
Levered Free Cash Flow, 3 Yr. CAGR %	8.44	125.35	-27.34	247.82	177.19
Unlevered Free Cash Flow, 3 Yr. CAGR %	8.44	125.35	-30.78	247.48	174.68
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	12.78	17.71	28.27	22.91	21.66
Gross Profit, 5 Yr. CAGR %	25.46	24.79	79.43	59.07	27.23
EBITDA, 5 Yr. CAGR %	21.42	18.3	168.89	106.47	28.59
EBITA, 5 Yr. CAGR %	21.47	18.39	142.74	97.43	28.83
EBIT, 5 Yr. CAGR %	21.22	18.07	142.3	97.01	29
Earnings From Cont. Operations, 5 Yr. CAGR %	20.8	17.72	135.27	82.47	24.49
Net Income, 5 Yr. CAGR %	22.17	12.07	38.57	220.74	22
Normalized Net Income, 5 Yr. CAGR %	21.22	18.07	140.75	95.45	26.89
Diluted EPS Before Extra, 5 Yr. CAGR %	21.9	18.78	136.13	82.17	24.01
Net Property, Plant and Equip., 5 Yr. CAGR %	22.31	13.05	34.43	19.75	65.59
Accounts Receivable, 5 Yr. CAGR %	26.33	28.39	-	-	-
Total Assets, 5 Yr. CAGR %	16.79	10.21	10.22	10.83	11.26
Common Equity, 5 Yr. CAGR %	9.57	5.86	17.37	21.92	20.42
Tangible Book Value, 5 Yr. CAGR %	9.27	5.4	17.09	21.81	20.48
Cash From Operations, 5 Yr. CAGR %	26.64	-28.3	-47.35	-1.74	17.88
Capital Expenditures, 5 Yr. CAGR %	30.5	11.72	12.93	8.54	46.32
Levered Free Cash Flow, 5 Yr. CAGR %	-4.59	11.84	-2.36	194.62	98.43
Unlevered Free Cash Flow, 5 Yr. CAGR %	-4.59	11.84	-5.16	194.45	98.12
Dividend Per Share, 5 Yr. CAGR %	25.48	-	-	-	36.08