Logo image of SPIR.OL

SPIR GROUP ASA (SPIR.OL) Stock Fundamental Analysis

OSL:SPIR - Euronext Oslo - NO0012548819 - Common Stock - Currency: NOK

9.36  +0.12 (+1.3%)

Fundamental Rating

4

SPIR gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 102 industry peers in the Software industry. While SPIR is still in line with the averages on profitability rating, there are concerns on its financial health. SPIR has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

Quickly go to:

4

1. Profitability

1.1 Basic Checks

SPIR had positive earnings in the past year.
SPIR had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: SPIR reported negative net income in multiple years.
SPIR had a positive operating cash flow in each of the past 5 years.
SPIR.OL Yearly Net Income VS EBIT VS OCF VS FCFSPIR.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 0 50M 100M 150M 200M

1.2 Ratios

Looking at the Return On Assets, with a value of 1.18%, SPIR is in line with its industry, outperforming 51.96% of the companies in the same industry.
Looking at the Return On Equity, with a value of 2.55%, SPIR is in line with its industry, outperforming 51.96% of the companies in the same industry.
SPIR has a Return On Invested Capital of 2.71%. This is comparable to the rest of the industry: SPIR outperforms 56.86% of its industry peers.
The Average Return On Invested Capital over the past 3 years for SPIR is significantly below the industry average of 10.32%.
The last Return On Invested Capital (2.71%) for SPIR is above the 3 year average (2.12%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 1.18%
ROE 2.55%
ROIC 2.71%
ROA(3y)0.59%
ROA(5y)0.88%
ROE(3y)1.27%
ROE(5y)1.64%
ROIC(3y)2.12%
ROIC(5y)2.82%
SPIR.OL Yearly ROA, ROE, ROICSPIR.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 0 2 4

1.3 Margins

SPIR has a Profit Margin (2.52%) which is comparable to the rest of the industry.
With a Operating Margin value of 5.30%, SPIR perfoms like the industry average, outperforming 56.86% of the companies in the same industry.
In the last couple of years the Operating Margin of SPIR has declined.
SPIR's Gross Margin of 61.43% is in line compared to the rest of the industry. SPIR outperforms 45.10% of its industry peers.
SPIR's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 5.3%
PM (TTM) 2.52%
GM 61.43%
OM growth 3Y-4.43%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.16%
GM growth 5YN/A
SPIR.OL Yearly Profit, Operating, Gross MarginsSPIR.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 0 20 40 60 80

More info and screens

2

2. Health

2.1 Basic Checks

SPIR has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for SPIR has been increased compared to 1 year ago.
SPIR has a better debt/assets ratio than last year.
SPIR.OL Yearly Shares OutstandingSPIR.OL Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
SPIR.OL Yearly Total Debt VS Total AssetsSPIR.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

SPIR has a debt to FCF ratio of 5.63. This is a neutral value as SPIR would need 5.63 years to pay back of all of its debts.
SPIR has a Debt to FCF ratio of 5.63. This is comparable to the rest of the industry: SPIR outperforms 55.88% of its industry peers.
SPIR has a Debt/Equity ratio of 0.48. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of SPIR (0.48) is worse than 62.75% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.48
Debt/FCF 5.63
Altman-Z N/A
ROIC/WACC0.28
WACC9.54%
SPIR.OL Yearly LT Debt VS Equity VS FCFSPIR.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 200M 400M 600M 800M 1B

2.3 Liquidity

A Current Ratio of 0.57 indicates that SPIR may have some problems paying its short term obligations.
SPIR has a Current ratio of 0.57. This is amonst the worse of the industry: SPIR underperforms 84.31% of its industry peers.
A Quick Ratio of 0.57 indicates that SPIR may have some problems paying its short term obligations.
SPIR has a worse Quick ratio (0.57) than 84.31% of its industry peers.
Industry RankSector Rank
Current Ratio 0.57
Quick Ratio 0.57
SPIR.OL Yearly Current Assets VS Current LiabilitesSPIR.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 100M 200M 300M 400M

More info and screens

6

3. Growth

3.1 Past

SPIR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 292.04%, which is quite impressive.
SPIR shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.58%.
SPIR shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 24.67% yearly.
EPS 1Y (TTM)292.04%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-67.46%
Revenue 1Y (TTM)11.58%
Revenue growth 3Y24.67%
Revenue growth 5YN/A
Sales Q2Q%19.99%

3.2 Future

The Earnings Per Share is expected to grow by 92.35% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 7.58% on average over the next years.
EPS Next Y187.5%
EPS Next 2Y92.35%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year10.14%
Revenue Next 2Y7.58%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
SPIR.OL Yearly Revenue VS EstimatesSPIR.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M 800M 1B
SPIR.OL Yearly EPS VS EstimatesSPIR.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 0 0.2 -0.2 0.4 0.6

More info and screens

6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 40.70 indicates a quite expensive valuation of SPIR.
66.67% of the companies in the same industry are more expensive than SPIR, based on the Price/Earnings ratio.
SPIR's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.35.
SPIR is valuated correctly with a Price/Forward Earnings ratio of 12.40.
Compared to the rest of the industry, the Price/Forward Earnings ratio of SPIR indicates a rather cheap valuation: SPIR is cheaper than 87.25% of the companies listed in the same industry.
SPIR's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.19.
Industry RankSector Rank
PE 40.7
Fwd PE 12.4
SPIR.OL Price Earnings VS Forward Price EarningsSPIR.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, SPIR is valued cheaply inside the industry as 87.25% of the companies are valued more expensively.
92.16% of the companies in the same industry are more expensive than SPIR, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 10.36
EV/EBITDA 8.56
SPIR.OL Per share dataSPIR.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5

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.
SPIR's earnings are expected to grow with 92.35% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.22
PEG (5Y)N/A
EPS Next 2Y92.35%
EPS Next 3YN/A

More info and screens

0

5. Dividend

5.1 Amount

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

More info and screens

SPIR GROUP ASA

OSL:SPIR (6/20/2025, 7:00:00 PM)

9.36

+0.12 (+1.3%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)11-09 2023-11-09/bmo
Earnings (Next)N/A N/A
Inst Owners48.41%
Inst Owner ChangeN/A
Ins Owners2.6%
Ins Owner ChangeN/A
Market Cap1.24B
Analysts80
Price Target10.05 (7.37%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-4.17%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 40.7
Fwd PE 12.4
P/S 1.05
P/FCF 10.36
P/OCF 5.58
P/B 1.07
P/tB N/A
EV/EBITDA 8.56
EPS(TTM)0.23
EY2.46%
EPS(NY)0.75
Fwd EY8.06%
FCF(TTM)0.9
FCFY9.65%
OCF(TTM)1.68
OCFY17.92%
SpS8.89
BVpS8.78
TBVpS-6.84
PEG (NY)0.22
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.18%
ROE 2.55%
ROCE 3.19%
ROIC 2.71%
ROICexc 2.83%
ROICexgc N/A
OM 5.3%
PM (TTM) 2.52%
GM 61.43%
FCFM 10.16%
ROA(3y)0.59%
ROA(5y)0.88%
ROE(3y)1.27%
ROE(5y)1.64%
ROIC(3y)2.12%
ROIC(5y)2.82%
ROICexc(3y)2.19%
ROICexc(5y)3.54%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)2.5%
ROCE(5y)3.33%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y1.05%
ROICexc growth 5YN/A
OM growth 3Y-4.43%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.16%
GM growth 5YN/A
F-Score7
Asset Turnover0.47
Health
Industry RankSector Rank
Debt/Equity 0.48
Debt/FCF 5.63
Debt/EBITDA 2.66
Cap/Depr 68.48%
Cap/Sales 8.7%
Interest Coverage 1.09
Cash Conversion 104.76%
Profit Quality 403.64%
Current Ratio 0.57
Quick Ratio 0.57
Altman-Z N/A
F-Score7
WACC9.54%
ROIC/WACC0.28
Cap/Depr(3y)80.88%
Cap/Depr(5y)77.66%
Cap/Sales(3y)9.61%
Cap/Sales(5y)9.66%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)292.04%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-67.46%
EPS Next Y187.5%
EPS Next 2Y92.35%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)11.58%
Revenue growth 3Y24.67%
Revenue growth 5YN/A
Sales Q2Q%19.99%
Revenue Next Year10.14%
Revenue Next 2Y7.58%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y50.43%
EBIT growth 3Y19.15%
EBIT growth 5YN/A
EBIT Next Year319.67%
EBIT Next 3Y69.3%
EBIT Next 5YN/A
FCF growth 1Y130.2%
FCF growth 3Y31.41%
FCF growth 5YN/A
OCF growth 1Y46.03%
OCF growth 3Y32.24%
OCF growth 5YN/A