Cash flow Smartoptics Group ASA Deutsche Boerse AG

Stocks

3YL

NO0011012502

Communications & Networking

Real-time Estimate Tradegate Other stock markets 08:35:16 2026-07-28 EDT			5-day change	1st Jan Change
4.030 ^EUR	0.00%		+1.23%	+74.47%

07-14	SEB raises Smartoptics price target to 65 Norwegian kroner (62), reiterates buy	FW
07-13	Smartoptics Group ASA, Q2 2026 Earnings Call, Jul 13, 2026

9250cb6a4ee16df0f16c84115270.-z-y62ZLT3SDh1tIfbvqgUxInMci7VfbVGZ5Tv6UX9I.vlznhzQufyC3sG0NFo-_2QA_z5QWqS61BDMhCpSlHKihD9_eMnkpA-qqAg

Published financial data: SMARTOPTICS GROUP ASA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Revenues	394M	57.37M	58.47M	55.39M	75.27M
Other Revenues, Total	-	-	-	-	-
Total Revenues	394M	57.37M	58.47M	55.39M	75.27M
Cost of Goods Sold, Total	226M	32.01M	29.23M	28.78M	39.28M
Gross Profit	168M	25.35M	29.24M	26.61M	35.99M
Selling General & Admin Expenses, Total	82.11M	11.03M	13.18M	13.23M	16.43M
Depreciation & Amortization - (IS)	10.56M	1.21M	1.58M	1.98M	2.37M
Amortization of Goodwill and Intangible Assets - (IS)	3.5M	324K	283K	318K	563K
Other Operating Expenses	32.24M	3.48M	5.26M	7.79M	9.84M
Other Operating Expenses, Total	128M	16.04M	20.3M	23.32M	29.2M
Operating Income	39.66M	9.31M	8.94M	3.29M	6.78M
Interest Expense, Total	-1.06M	-229K	-241K	-306K	-237K
Interest And Investment Income	156K	40K	252K	315K	184K
Net Interest Expenses	-908K	-189K	11K	9K	-53K
Currency Exchange Gains (Loss)	-1.28M	-253K	638K	2.08M	-853K
Other Non Operating Income (Expenses)	-366K	-	-1K	-3K	114K
EBT, Excl. Unusual Items	37.11M	8.87M	9.59M	5.38M	5.99M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Asset Writedown	-	-12K	-	-	-
EBT, Incl. Unusual Items	37.11M	8.86M	9.59M	5.38M	5.99M
Income Tax Expense	6.56M	2.07M	2.12M	1.34M	1.31M
Earnings From Continuing Operations	30.54M	6.79M	7.47M	4.04M	4.68M
Net Income to Company	30.54M	6.79M	7.47M	4.04M	4.68M
Net Income - (IS)	30.54M	6.79M	7.47M	4.04M	4.68M
Net Income to Common Incl Extra Items	30.54M	6.79M	7.47M	4.04M	4.68M
Net Income to Common Excl. Extra Items	30.54M	6.79M	7.47M	4.04M	4.68M
Per Share Items
Net EPS - Basic	0.33	0.07	0.08	0.04	0.05
Basic EPS - Continuing Operations	0.33	0.07	0.08	0.04	0.05
Basic Weighted Average Shares Outstanding	93.74M	96.29M	96.29M	97.6M	98.05M
Net EPS - Diluted	0.33	0.07	0.08	0.04	0.05
Diluted EPS - Continuing Operations	0.33	0.07	0.08	0.04	0.05
Diluted Weighted Average Shares Outstanding	93.74M	96.32M	97.09M	97.88M	98.05M
Normalized Basic EPS	0.25	0.06	0.06	0.03	0.04
Normalized Diluted EPS	0.25	0.06	0.06	0.03	0.04
Dividend Per Share	-	0.05	0.05	0.05	0.06
Payout Ratio	61.88	-	58.77	110.07	120.84
Supplemental Items
EBITDA	43.75M	9.83M	9.78M	4.52M	8.43M
EBITA	39.66M	9.31M	8.94M	3.29M	6.88M
EBIT	39.66M	9.31M	8.94M	3.29M	6.78M
EBITDAR	45.26M	10.04M	10.06M	4.78M	8.76M
Total Revenues (As Reported)	394M	57.37M	58.5M	55.51M	75.27M
Effective Tax Rate - (Ratio)	17.69	23.36	22.1	24.86	21.84
Total Current Taxes	263K	423K	1.86M	1.45M	1.42M
Total Deferred Taxes	6.3M	1.65M	258K	-111K	-111K
Normalized Net Income	23.19M	5.54M	5.99M	3.36M	3.75M
Interest on Long-Term Debt	733K	80K	88K	66K	42K
Supplemental Operating Expense Items
Marketing Expenses	-	1.06M	1.21M	919K	877K
Selling and Marketing Expenses	-	1.06M	1.21M	919K	877K
Research And Development Expense From Footnotes	-	324K	283K	318K	563K
Net Rental Expense, Total	1.51M	211K	276K	268K	328K
Imputed Operating Lease Interest Expense	302K	93.17K	144K	240K	412K
Imputed Operating Lease Depreciation	1.21M	118K	132K	28.3K	-83.98K

Fiscal Period: December	2021	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Assets
Cash And Equivalents	82.72M	5.66M	9.32M	7.97M	7.34M
Total Cash And Short Term Investments	82.72M	5.66M	9.32M	7.97M	7.34M
Accounts Receivable, Total	68.9M	15.92M	16.95M	19.86M	18.72M
Other Receivables	-	-	-	-	-
Total Receivables	68.9M	15.92M	16.95M	19.86M	18.72M
Inventory	107M	15.42M	14.2M	12.62M	18.67M
Other Current Assets, Total	11.74M	942K	1.42M	1.38M	2.32M
Total Current Assets	270M	37.94M	41.89M	41.83M	47.04M
Gross Property Plant And Equipment	47.68M	6.19M	7.65M	8.04M	9.89M
Accumulated Depreciation	-15.12M	-2.02M	-2.94M	-3.83M	-5.55M
Net Property Plant And Equipment	32.57M	4.17M	4.71M	4.21M	4.34M
Long-term Investments	-	-	-	-	-
Other Intangibles, Total	7.98M	941K	1.34M	1.91M	649K
Deferred Tax Assets Long-Term	28.7M	1.33M	1.07M	955K	1.88M
Deferred Charges Long-Term	-	-	-	-	2.2M
Other Long-Term Assets, Total	-	-	1K	-	-
Total Assets	339M	44.37M	49.01M	48.91M	56.12M
Liabilities
Accounts Payable, Total	54.81M	5.83M	4.48M	5.05M	5.63M
Accrued Expenses, Total	-	-	-	3.27M	4.81M
Current Portion of Long-Term Debt	2.29M	423K	558K	500K	311K
Current Portion of Leases	6.89M	674K	716K	730K	411K
Current Income Taxes Payable	519K	868K	2.37M	1.12M	1.66M
Unearned Revenue Current, Total	12.17M	1.82M	3.13M	4.03M	7.16M
Other Current Liabilities	15.61M	1.98M	2.12M	-	1K
Total Current Liabilities	92.3M	11.59M	13.38M	14.7M	19.98M
Long-Term Debt	15.21M	1.12M	883K	277K	-
Long-Term Leases	13.73M	1.76M	1.27M	539K	251K
Unearned Revenue Non Current	13.88M	2.3M	3.43M	4.94M	5.61M
Other Non Current Liabilities	-	1K	-	1K	1K
Total Liabilities	135M	16.77M	18.96M	20.45M	25.85M
Common Stock, Total	1.93M	195K	189K	173K	195K
Additional Paid In Capital	128M	12.95M	12.42M	13.12M	14.78M
Retained Earnings	73.44M	14.27M	17.02M	14.87M	15.45M
Comprehensive Income and Other	1.13M	188K	412K	293K	-156K
Total Common Equity	204M	27.6M	30.05M	28.45M	30.26M
Total Equity	204M	27.6M	30.05M	28.45M	30.26M
Total Liabilities And Equity	339M	44.37M	49.01M	48.91M	56.12M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	96.29M	96.29M	96.29M	98.05M	98.05M
ECS Total Common Shares Outstanding	96.29M	96.29M	96.29M	98.05M	98.05M
Book Value / Share	2.12	0.29	0.31	0.29	0.31
Tangible Book Value	196M	26.66M	28.71M	26.54M	29.62M
Tangible Book Value Per Share	2.04	0.28	0.3	0.27	0.3
Total Debt	38.12M	3.98M	3.43M	2.05M	973K
Net Debt	-44.6M	-1.68M	-5.89M	-5.93M	-6.36M
Debt Equivalent Oper. Leases	12.06M	1.69M	2.21M	2.14M	2.62M
Account Code - Inventory Valuation	3	6	6	6	6
Inventories - Work In Process, Total	1.28M	284K	167K	194K	596K
Inventories - Finished Goods, Total	105M	15.14M	14.03M	12.42M	18.07M
Machinery, Total	27.39M	3.81M	5.73M	6.84M	9.27M
Full Time Employees	75	83	107	132	143
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	229K

Fiscal Period: December	2021	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Net Income	30.54M	6.79M	7.47M	4.04M	4.68M
Depreciation & Amortization - CF	10.56M	1.21M	1.58M	1.95M	2.37M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	91K
Depreciation & Amortization, Total	10.56M	1.21M	1.58M	1.95M	2.46M
Amortization of Deferred Charges, Total - (CF)	3.5M	324K	283K	343K	470K
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	12K	-	-	-
Other Operating Activities, Total	8M	2.22M	2.36M	427K	243K
Change In Accounts Receivable	-16.53M	-8.1M	-1.04M	-2.91M	1.15M
Change In Inventories	-37.16M	-3.33M	1.22M	1.58M	-6.05M
Change In Accounts Payable	20.33M	-384K	-1.35M	565K	582K
Change in Unearned Revenues	6.5M	1.16M	2.45M	2.41M	3.8M
Change in Other Net Operating Assets	-14.04M	194K	-1.12M	-2.02M	1.16M
Cash from Operations	11.69M	91K	11.85M	6.39M	8.5M
Capital Expenditure	-10.03M	-1.12M	-1.76M	-1.73M	-1.45M
Sale (Purchase) of Intangible assets	-2.93M	-457K	-724K	-1.04M	-1.27M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	414K	-	-	-	-
Cash from Investing	-12.54M	-1.58M	-2.48M	-2.77M	-2.72M
Long-Term Debt Issued, Total	-	-	556K	-	-
Total Debt Issued	-	-	556K	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-27.17M	-981K	-1.41M	-1.24M	-1.41M
Total Debt Repaid	-27.17M	-981K	-1.41M	-1.24M	-1.41M
Issuance of Common Stock	99.69M	-	-	2.11M	-
Common Dividends Paid	-18.9M	-	-4.39M	-4.45M	-5.66M
Common & Preferred Stock Dividends Paid	-18.9M	-	-4.39M	-4.45M	-5.66M
Other Financing Activities, Total	-9.77M	-149K	-280K	-307K	-237K
Cash from Financing	43.85M	-1.13M	-5.53M	-3.89M	-7.31M
Foreign Exchange Rate Adjustments	35K	-1.1M	-181K	-1.08M	895K
Miscellaneous Cash Flow Adjustments	-1K	1K	-	-	-
Net Change in Cash	43.04M	-3.72M	3.66M	-1.35M	-636K
Supplemental Items
Cash Interest Paid	698K	149K	153K	306K	237K
Cash Income Tax Paid (Refund)	-	-	-	-	1.3M
Levered Free Cash Flow	-9.62M	-4.34M	6.13M	1.47M	4.26M
Unlevered Free Cash Flow	-8.96M	-4.2M	6.28M	1.66M	4.4M
Change In Net Working Capital	34.84M	9.97M	-1.32M	-81K	52K
Net Debt Issued / Repaid	-27.17M	-981K	-855K	-1.24M	-1.41M

Fiscal Period: December	2021	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Profitability
Return on Assets	8.79	14.05	11.97	4.2	8.08
Return on Total Capital	12.69	19.71	17.18	6.43	13.74
Return On Equity %	19.99	26.75	25.92	13.82	15.95
Return on Common Equity	19.99	26.75	25.92	13.82	15.95
Margin Analysis
Gross Profit Margin %	42.66	44.19	50.01	48.04	47.81
SG&A Margin	20.84	19.23	22.54	23.89	21.82
EBITDA Margin %	11.11	17.14	16.73	8.15	11.2
EBITA Margin %	10.07	16.23	15.29	5.94	9.14
EBIT Margin %	10.07	16.23	15.29	5.94	9.01
Income From Continuing Operations Margin %	7.75	11.83	12.78	7.3	6.22
Net Income Margin %	7.75	11.83	12.78	7.3	6.22
Net Avail. For Common Margin %	7.75	11.83	12.78	7.3	6.22
Normalized Net Income Margin	5.89	9.66	10.25	6.07	4.98
Levered Free Cash Flow Margin	-2.44	-7.57	10.48	2.65	5.66
Unlevered Free Cash Flow Margin	-2.27	-7.32	10.74	3	5.85
Asset Turnover
Asset Turnover	1.4	1.38	1.25	1.13	1.43
Fixed Assets Turnover	20.08	14.6	13.18	12.42	17.6
Receivables Turnover (Average Receivables)	6.5	4.84	3.56	3.01	3.9
Inventory Turnover (Average Inventory)	2.56	2.33	1.97	2.15	2.51
Short Term Liquidity
Current Ratio	2.93	3.27	3.13	2.85	2.35
Quick Ratio	1.64	1.86	1.96	1.89	1.3
Operating Cash Flow to Current Liabilities	0.13	0.01	0.89	0.43	0.43
Days Sales Outstanding (Average Receivables)	56.18	75.48	102.58	121.63	93.55
Days Outstanding Inventory (Average Inventory)	142.35	156.87	184.92	170.47	145.34
Average Days Payable Outstanding	61.95	62.2	67.2	64.12	42.99
Cash Conversion Cycle (Average Days)	136.58	170.15	220.29	227.98	195.9
Long Term Solvency
Total Debt/Equity	18.67	14.4	11.41	7.19	3.22
Total Debt / Total Capital	15.73	12.59	10.24	6.71	3.11
LT Debt/Equity	14.17	10.43	7.17	2.87	0.83
Long-Term Debt / Total Capital	11.94	9.12	6.43	2.68	0.8
Total Liabilities / Total Assets	39.82	37.79	38.69	41.82	46.07
EBIT / Interest Expense	37.27	40.66	37.1	10.75	28.63
EBITDA / Interest Expense	47.19	45.93	43.64	17.12	39.03
(EBITDA - Capex) / Interest Expense	37.77	41.03	36.34	11.47	32.9
Total Debt / EBITDA	0.76	0.38	0.33	0.39	0.11
Net Debt / EBITDA	-0.89	-0.16	-0.56	-1.13	-0.69
Total Debt / (EBITDA - Capex)	0.95	0.42	0.39	0.58	0.12
Net Debt / (EBITDA - Capex)	-1.11	-0.18	-0.67	-1.69	-0.82
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	20.33	25.12	1.93	-5.27	35.88
Gross Profit, 1 Yr. Growth %	34.97	29.75	15.33	-8.99	35.24
EBITDA, 1 Yr. Growth %	145.12	93.92	-0.5	-53.83	85.64
EBITA, 1 Yr. Growth %	164.85	102.7	-3.97	-63.22	107.48
EBIT, 1 Yr. Growth %	164.85	102.7	-3.97	-63.22	106.29
Earnings From Cont. Operations, 1 Yr. Growth %	127.71	92.21	10.05	-45.9	15.88
Net Income, 1 Yr. Growth %	127.71	92.21	10.05	-45.9	15.88
Normalized Net Income, 1 Yr. Growth %	173.68	106.42	8.12	-43.91	11.41
Diluted EPS Before Extra, 1 Yr. Growth %	54.43	85.79	10	-46.75	16.52
Accounts Receivable, 1 Yr. Growth %	31.56	103.72	6.52	17.17	-5.77
Inventory, 1 Yr. Growth %	53.45	27.52	-7.94	-11.15	47.98
Net Property, Plant and Equip., 1 Yr. Growth %	388.6	12.84	12.98	-10.56	3.09
Total Assets, 1 Yr. Growth %	50.92	15.35	10.45	-0.21	14.74
Tangible Book Value, 1 Yr. Growth %	93.44	19.86	7.66	-7.55	5.34
Common Equity, 1 Yr. Growth %	101.31	19.24	8.85	-5.31	6.36
Cash From Operations, 1 Yr. Growth %	8.67	-93.54	12.93K	-46.12	33.05
Capital Expenditures, 1 Yr. Growth %	133.12	-3.94	57	-1.76	-16.02
Levered Free Cash Flow, 1 Yr. Growth %	76.35	314.25	-241.24	-76.01	189.48
Unlevered Free Cash Flow, 1 Yr. Growth %	96.74	344.91	-249.65	-73.54	165.08
Dividend Per Share, 1 Yr. Growth %	-	-	-2.84	7.11	12.7
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	30.85	31.39	12.93	-1.73	13.46
Gross Profit, 2 Yr. CAGR %	29.07	41.64	22.33	2.45	10.94
EBITDA, 2 Yr. CAGR %	89.58	132.97	38.91	-32.22	-7.16
EBITA, 2 Yr. CAGR %	134.8	147.53	39.52	-40.57	-12.31
EBIT, 2 Yr. CAGR %	134.8	147.53	39.52	-40.57	-12.89
Earnings From Cont. Operations, 2 Yr. CAGR %	194.34	123.31	45.44	-22.84	-20.82
Net Income, 2 Yr. CAGR %	194.34	123.31	45.44	-22.84	-20.82
Normalized Net Income, 2 Yr. CAGR %	156.94	153.88	49.39	-22.13	-20.95
Diluted EPS Before Extra, 2 Yr. CAGR %	-	80.8	42.96	-23.47	-21.23
Accounts Receivable, 2 Yr. CAGR %	28.35	73.03	47.31	11.72	5.08
Inventory, 2 Yr. CAGR %	61.56	47.84	8.35	-9.56	14.67
Net Property, Plant and Equip., 2 Yr. CAGR %	158.84	148.18	12.91	0.53	-3.98
Total Assets, 2 Yr. CAGR %	43.3	39.45	12.87	4.98	7
Tangible Book Value, 2 Yr. CAGR %	49.71	60.94	13.6	-0.23	1.57
Common Equity, 2 Yr. CAGR %	52.72	63.75	13.93	1.52	0.36
Cash From Operations, 2 Yr. CAGR %	40.82	-71.13	190.14	737.78	-15.33
Capital Expenditures, 2 Yr. CAGR %	90.05	60.24	22.81	24.19	-9.17
Levered Free Cash Flow, 2 Yr. CAGR %	-	179.92	141.89	-41.79	-16.67
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	201.34	158.03	-37.08	-16.26
Dividend Per Share, 2 Yr. CAGR %	-	-	-	2.01	9.87
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	34.93	21.9	6.51	9.48
Gross Profit, 3 Yr. CAGR %	-	35.29	33.54	10.84	12.39
EBITDA, 3 Yr. CAGR %	-	99.65	77.14	-3.78	-4.99
EBITA, 3 Yr. CAGR %	-	133.65	82.27	-10.54	-9.61
EBIT, 3 Yr. CAGR %	-	133.65	82.27	-10.54	-10.02
Earnings From Cont. Operations, 3 Yr. CAGR %	-	166.71	78.09	4.6	-11.64
Net Income, 3 Yr. CAGR %	-	166.71	78.09	4.6	-11.64
Normalized Net Income, 3 Yr. CAGR %	-	149.59	92.85	7.77	-12.25
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	54.68	2.86	-11.96
Accounts Receivable, 3 Yr. CAGR %	-	55.35	48.62	36.49	5.56
Inventory, 3 Yr. CAGR %	-	54.92	27.47	1.41	6.57
Net Property, Plant and Equip., 3 Yr. CAGR %	-	103.65	92.76	4.47	1.37
Total Assets, 3 Yr. CAGR %	-	38.31	30.27	8.33	8.14
Tangible Book Value, 3 Yr. CAGR %	-	44.24	42.11	6.06	3.56
Common Equity, 3 Yr. CAGR %	-	45.92	44.29	7.12	3.11
Cash From Operations, 3 Yr. CAGR %	-	-46.63	123.55	65.54	353.69
Capital Expenditures, 3 Yr. CAGR %	-	58.45	60.69	14	9.01
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	125	11.96	-0.65
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	140.94	20.77	1.62
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	5.46
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	22.29	18.31
Gross Profit, 5 Yr. CAGR %	-	-	-	24.55	23.85
EBITDA, 5 Yr. CAGR %	-	-	-	33.34	36.64
EBITA, 5 Yr. CAGR %	-	-	-	39.03	35.86
EBIT, 5 Yr. CAGR %	-	-	-	39.03	35.5
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	67.09	28.62
Net Income, 5 Yr. CAGR %	-	-	-	67.09	28.62
Normalized Net Income, 5 Yr. CAGR %	-	-	-	61.16	34.83
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	17.95
Accounts Receivable, 5 Yr. CAGR %	-	-	-	40.09	29.22
Inventory, 5 Yr. CAGR %	-	-	-	28.52	22.04
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	57.99	45.7
Total Assets, 5 Yr. CAGR %	-	-	-	27.45	20.27
Tangible Book Value, 5 Yr. CAGR %	-	-	-	28.06	24.1
Common Equity, 5 Yr. CAGR %	-	-	-	29.86	24.64
Cash From Operations, 5 Yr. CAGR %	-	-	-	65.21	51.43
Capital Expenditures, 5 Yr. CAGR %	-	-	-	47.9	27.75
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	51.05
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	57.69