SPIR GROUP ASA (SPIR.OL) Stock Fundamental Analysis

Europe - Euronext Oslo - OSL:SPIR - NO0012548819 - Common Stock

8.5 NOK

0 (0%)

Last: 1/23/2026, 7:00:00 PM

Fundamental Rating

Taking everything into account, SPIR scores 4 out of 10 in our fundamental rating. SPIR was compared to 114 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 scores decently on growth, while it is valued quite cheap. This could make an interesting combination.

Quickly go to:

1. Profitability

1.1 Basic Checks

SPIR had positive earnings in the past year.
In multiple years SPIR reported negative net income over the last 5 years.
SPIR had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

SPIR's Return On Assets of 34.41% is amongst the best of the industry. SPIR outperforms 97.48% of its industry peers.
SPIR has a better Return On Equity (47.74%) than 89.92% of its industry peers.
With a Return On Invested Capital value of 1.38%, SPIR perfoms like the industry average, outperforming 48.74% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for SPIR is significantly below the industry average of 13.49%.

		Industry Rank	Sector Rank
ROA	34.41%
ROE	47.74%
ROIC	1.38%

ROA(3y)0.59%

ROA(5y)0.88%

ROE(3y)1.27%

ROE(5y)1.64%

ROIC(3y)2.12%

ROIC(5y)2.82%

1.3 Margins

SPIR has a better Profit Margin (72.70%) than 96.64% of its industry peers.
The Operating Margin of SPIR (3.04%) is comparable to the rest of the industry.
SPIR's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 59.52%, SPIR is doing worse than 65.55% of the companies in the same industry.
SPIR's Gross Margin has declined in the last couple of years.

		Industry Rank	Sector Rank
OM	3.04%
PM (TTM)	72.7%
GM	59.52%

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

More info and screens

ROA

ROE

ROIC

Operating and Profit Margin

Show most profitable peers

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.
Compared to 1 year ago, SPIR has more shares outstanding
Compared to 1 year ago, SPIR has an improved debt to assets ratio.

2.2 Solvency

SPIR has a Debt/Equity ratio of 0.10. This is a healthy value indicating a solid balance between debt and equity.
SPIR's Debt to Equity ratio of 0.10 is fine compared to the rest of the industry. SPIR outperforms 70.59% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.1
Debt/FCF	N/A
Altman-Z	N/A

ROIC/WACC0.15

WACC9.47%

2.3 Liquidity

A Current Ratio of 1.15 indicates that SPIR should not have too much problems paying its short term obligations.
SPIR has a Current ratio of 1.15. This is in the lower half of the industry: SPIR underperforms 62.18% of its industry peers.
A Quick Ratio of 1.15 indicates that SPIR should not have too much problems paying its short term obligations.
The Quick ratio of SPIR (1.15) is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Current Ratio	1.15
Quick Ratio	1.15

More info and screens

WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

Show peers with great health

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 3576.74% over the past year.
SPIR shows a small growth in Revenue. In the last year, the Revenue has grown by 0.08%.
SPIR shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 24.67% yearly.

EPS 1Y (TTM)3576.74%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%1958.52%

Revenue 1Y (TTM)0.08%

Revenue growth 3Y24.67%

Revenue growth 5YN/A

Sales Q2Q%-16.31%

3.2 Future

SPIR is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 51.83% yearly.
The Revenue is expected to decrease by -2.48% on average over the next years.

EPS Next Y72.5%

EPS Next 2Y64.32%

EPS Next 3Y51.83%

EPS Next 5YN/A

Revenue Next Year-8.65%

Revenue Next 2Y-6.46%

Revenue Next 3Y-2.48%

Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

More info and screens

Find the best growth stocks

Show best growing peers

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 1.43, which indicates a rather cheap valuation of SPIR.
99.16% of the companies in the same industry are more expensive than SPIR, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 27.21, SPIR is valued rather cheaply.
The Price/Forward Earnings ratio is 15.43, which indicates a correct valuation of SPIR.
Based on the Price/Forward Earnings ratio, SPIR is valued cheaper than 83.19% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of SPIR to the average of the S&P500 Index (25.98), we can say SPIR is valued slightly cheaper.

		Industry Rank	Sector Rank
PE	1.43
Fwd PE	15.43

4.2 Price Multiples

SPIR's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. SPIR is cheaper than 88.24% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	6.99

4.3 Compensation for Growth

SPIR's 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 51.83% in the coming years. This may justify a more expensive valuation.