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CRAYON GROUP HOLDING AS (CRAYN.OL) Stock Fundamental Analysis

OSL:CRAYN - Euronext Oslo - NO0010808892 - Common Stock - Currency: NOK

143.9  -0.3 (-0.21%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to CRAYN. CRAYN was compared to 100 industry peers in the Software industry. While CRAYN has a great profitability rating, there are quite some concerns on its financial health. CRAYN may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

In the past year CRAYN was profitable.
In the past year CRAYN had a positive cash flow from operations.
Of the past 5 years CRAYN 4 years were profitable.
In the past 5 years CRAYN always reported a positive cash flow from operatings.
CRAYN.OL Yearly Net Income VS EBIT VS OCF VS FCFCRAYN.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B

1.2 Ratios

CRAYN has a Return On Assets (1.53%) which is comparable to the rest of the industry.
The Return On Equity of CRAYN (10.80%) is better than 68.00% of its industry peers.
CRAYN's Return On Invested Capital of 11.88% is amongst the best of the industry. CRAYN outperforms 85.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CRAYN is below the industry average of 11.09%.
The last Return On Invested Capital (11.88%) for CRAYN is above the 3 year average (8.15%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 1.53%
ROE 10.8%
ROIC 11.88%
ROA(3y)0.27%
ROA(5y)0.94%
ROE(3y)1.7%
ROE(5y)5.34%
ROIC(3y)8.15%
ROIC(5y)8.32%
CRAYN.OL Yearly ROA, ROE, ROICCRAYN.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10 -15

1.3 Margins

With a Profit Margin value of 4.12%, CRAYN perfoms like the industry average, outperforming 56.00% of the companies in the same industry.
CRAYN's Profit Margin has declined in the last couple of years.
The Operating Margin of CRAYN (11.00%) is better than 66.00% of its industry peers.
In the last couple of years the Operating Margin of CRAYN has grown nicely.
CRAYN has a Gross Margin of 89.27%. This is amongst the best in the industry. CRAYN outperforms 88.00% of its industry peers.
In the last couple of years the Gross Margin of CRAYN has grown nicely.
Industry RankSector Rank
OM 11%
PM (TTM) 4.12%
GM 89.27%
OM growth 3Y-1%
OM growth 5Y62.81%
PM growth 3Y-16.95%
PM growth 5YN/A
GM growth 3Y1.37%
GM growth 5Y46.49%
CRAYN.OL Yearly Profit, Operating, Gross MarginsCRAYN.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), CRAYN is creating some value.
Compared to 1 year ago, CRAYN has more shares outstanding
CRAYN has more shares outstanding than it did 5 years ago.
CRAYN has a better debt/assets ratio than last year.
CRAYN.OL Yearly Shares OutstandingCRAYN.OL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
CRAYN.OL Yearly Total Debt VS Total AssetsCRAYN.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

Based on the Altman-Z score of 1.02, we must say that CRAYN is in the distress zone and has some risk of bankruptcy.
CRAYN has a worse Altman-Z score (1.02) than 71.00% of its industry peers.
The Debt to FCF ratio of CRAYN is 1.61, which is an excellent value as it means it would take CRAYN, only 1.61 years of fcf income to pay off all of its debts.
CRAYN has a Debt to FCF ratio of 1.61. This is in the better half of the industry: CRAYN outperforms 73.00% of its industry peers.
CRAYN has a Debt/Equity ratio of 0.58. This is a neutral value indicating CRAYN is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.58, CRAYN is not doing good in the industry: 63.00% of the companies in the same industry are doing better.
Even though the debt/equity ratio score it not favorable for CRAYN, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF 1.61
Altman-Z 1.02
ROIC/WACC1.24
WACC9.58%
CRAYN.OL Yearly LT Debt VS Equity VS FCFCRAYN.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

CRAYN has a Current Ratio of 0.98. This is a bad value and indicates that CRAYN is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.98, CRAYN is not doing good in the industry: 67.00% of the companies in the same industry are doing better.
A Quick Ratio of 0.98 indicates that CRAYN may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.98, CRAYN is doing worse than 66.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.98
Quick Ratio 0.98
CRAYN.OL Yearly Current Assets VS Current LiabilitesCRAYN.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B

5

3. Growth

3.1 Past

CRAYN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 44.17%, which is quite impressive.
The Earnings Per Share has been growing by 8.95% on average over the past years. This is quite good.
Looking at the last year, CRAYN shows a small growth in Revenue. The Revenue has grown by 7.67% in the last year.
Measured over the past years, CRAYN shows a very negative growth in Revenue. The Revenue has been decreasing by -12.43% on average per year.
EPS 1Y (TTM)44.17%
EPS 3Y8.95%
EPS 5YN/A
EPS Q2Q%38.61%
Revenue 1Y (TTM)7.67%
Revenue growth 3Y25.66%
Revenue growth 5Y-12.43%
Sales Q2Q%6.61%

3.2 Future

CRAYN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 48.55% yearly.
The Revenue is expected to decrease by -1.25% on average over the next years.
EPS Next Y108.12%
EPS Next 2Y65.95%
EPS Next 3Y48.55%
EPS Next 5YN/A
Revenue Next Year13.29%
Revenue Next 2Y13.92%
Revenue Next 3Y13.37%
Revenue Next 5Y-1.25%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
CRAYN.OL Yearly Revenue VS EstimatesCRAYN.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B 20B 25B
CRAYN.OL Yearly EPS VS EstimatesCRAYN.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 2 4 6 8 10

7

4. Valuation

4.1 Price/Earnings Ratio

CRAYN is valuated quite expensively with a Price/Earnings ratio of 35.27.
75.00% of the companies in the same industry are more expensive than CRAYN, based on the Price/Earnings ratio.
CRAYN is valuated rather expensively when we compare the Price/Earnings ratio to 27.15, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 13.48, the valuation of CRAYN can be described as correct.
CRAYN's Price/Forward Earnings ratio is rather cheap when compared to the industry. CRAYN is cheaper than 87.00% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.60, CRAYN is valued a bit cheaper.
Industry RankSector Rank
PE 35.27
Fwd PE 13.48
CRAYN.OL Price Earnings VS Forward Price EarningsCRAYN.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, CRAYN is valued a bit cheaper than the industry average as 74.00% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, CRAYN is valued cheaply inside the industry as 90.00% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 11.22
EV/EBITDA 11.81
CRAYN.OL Per share dataCRAYN.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of CRAYN may justify a higher PE ratio.
A more expensive valuation may be justified as CRAYN's earnings are expected to grow with 48.55% in the coming years.
PEG (NY)0.33
PEG (5Y)N/A
EPS Next 2Y65.95%
EPS Next 3Y48.55%

0

5. Dividend

5.1 Amount

CRAYN does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

CRAYON GROUP HOLDING AS

OSL:CRAYN (7/1/2025, 9:30:23 AM)

143.9

-0.3 (-0.21%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)05-21 2025-05-21/bmo
Earnings (Next)08-27 2025-08-27
Inst Owners59.97%
Inst Owner ChangeN/A
Ins Owners1.32%
Ins Owner ChangeN/A
Market Cap12.89B
Analysts78.75
Price Target144.46 (0.39%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-49.25%
Min EPS beat(2)-60.61%
Max EPS beat(2)-37.9%
EPS beat(4)0
Avg EPS beat(4)-35.83%
Min EPS beat(4)-60.61%
Max EPS beat(4)-13.94%
EPS beat(8)2
Avg EPS beat(8)-24.98%
EPS beat(12)2
Avg EPS beat(12)-66.98%
EPS beat(16)5
Avg EPS beat(16)-94.94%
Revenue beat(2)0
Avg Revenue beat(2)-8.54%
Min Revenue beat(2)-9.83%
Max Revenue beat(2)-7.25%
Revenue beat(4)0
Avg Revenue beat(4)-7.68%
Min Revenue beat(4)-9.83%
Max Revenue beat(4)-4.06%
Revenue beat(8)3
Avg Revenue beat(8)-3.98%
Revenue beat(12)5
Avg Revenue beat(12)-13.42%
Revenue beat(16)5
Avg Revenue beat(16)-31.36%
PT rev (1m)0.55%
PT rev (3m)0.55%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.05%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.6%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.93%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.11%
Valuation
Industry RankSector Rank
PE 35.27
Fwd PE 13.48
P/S 1.81
P/FCF 11.22
P/OCF 9.74
P/B 4.75
P/tB N/A
EV/EBITDA 11.81
EPS(TTM)4.08
EY2.84%
EPS(NY)10.68
Fwd EY7.42%
FCF(TTM)12.83
FCFY8.91%
OCF(TTM)14.77
OCFY10.26%
SpS79.49
BVpS30.28
TBVpS-11.43
PEG (NY)0.33
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.53%
ROE 10.8%
ROCE 17.55%
ROIC 11.88%
ROICexc 17.65%
ROICexgc N/A
OM 11%
PM (TTM) 4.12%
GM 89.27%
FCFM 16.14%
ROA(3y)0.27%
ROA(5y)0.94%
ROE(3y)1.7%
ROE(5y)5.34%
ROIC(3y)8.15%
ROIC(5y)8.32%
ROICexc(3y)11.91%
ROICexc(5y)28.33%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)12.05%
ROCE(5y)12.29%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y22.85%
ROICexc growth 5Y8.87%
OM growth 3Y-1%
OM growth 5Y62.81%
PM growth 3Y-16.95%
PM growth 5YN/A
GM growth 3Y1.37%
GM growth 5Y46.49%
F-Score6
Asset Turnover0.37
Health
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF 1.61
Debt/EBITDA 1.4
Cap/Depr 50.58%
Cap/Sales 2.44%
Interest Coverage 250
Cash Conversion 117.39%
Profit Quality 392.15%
Current Ratio 0.98
Quick Ratio 0.98
Altman-Z 1.02
F-Score6
WACC9.58%
ROIC/WACC1.24
Cap/Depr(3y)45.9%
Cap/Depr(5y)48.63%
Cap/Sales(3y)2.42%
Cap/Sales(5y)2%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)44.17%
EPS 3Y8.95%
EPS 5YN/A
EPS Q2Q%38.61%
EPS Next Y108.12%
EPS Next 2Y65.95%
EPS Next 3Y48.55%
EPS Next 5YN/A
Revenue 1Y (TTM)7.67%
Revenue growth 3Y25.66%
Revenue growth 5Y-12.43%
Sales Q2Q%6.61%
Revenue Next Year13.29%
Revenue Next 2Y13.92%
Revenue Next 3Y13.37%
Revenue Next 5Y-1.25%
EBIT growth 1Y72.09%
EBIT growth 3Y24.41%
EBIT growth 5Y42.57%
EBIT Next Year56.93%
EBIT Next 3Y29.1%
EBIT Next 5YN/A
FCF growth 1Y231.56%
FCF growth 3YN/A
FCF growth 5Y59.47%
OCF growth 1Y165.01%
OCF growth 3Y272.45%
OCF growth 5Y47.49%