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Orkla ASA ADR
Buy, Hold or Sell?

Let's analyze Orkla together

I guess you are interested in Orkla ASA ADR. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Orkla ASA ADR. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

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1. Quick Overview

1.1. Quick analysis of Orkla (30 sec.)










1.2. What can you expect buying and holding a share of Orkla? (30 sec.)

How much money do you get?

How much money do you get?
$0.56
When do you have the money?
1 year
How often do you get paid?
82.5%

What is your share worth?

Current worth
$4.55
Expected worth in 1 year
$4.86
How sure are you?
92.5%

+ What do you gain per year?

Total Gains per Share
$0.87
Return On Investment
9.4%

For what price can you sell your share?

Current Price per Share
$9.30
Expected price per share
$8.6 - $9.89
How sure are you?
50%
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2. Detailed Analysis

2.1. Valuation of Orkla (5 min.)




Live pricePrice per Share (EOD)
$9.30
Intrinsic Value Per Share
$5.40 - $10.39
Total Value Per Share
$9.95 - $14.93

2.2. Growth of Orkla (5 min.)




Is Orkla growing?

Current yearPrevious yearGrowGrow %
How rich?$4.5b$4.1b$269.5m6.1%

How much money is Orkla making?

Current yearPrevious yearGrowGrow %
Making money$130.9m$123.1m$7.7m6.0%
Net Profit Margin8.2%8.1%--

How much money comes from the company's main activities?

2.3. Financial Health of Orkla (5 min.)




2.4. Comparing to competitors in the Packaged Foods industry (5 min.)




  Industry Rankings (Packaged Foods)  


Richest
#33 / 487

Most Revenue
#74 / 487

Most Profit
#48 / 487

Most Efficient
#103 / 487
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3. Summary and Key Metrics

3.1. What can you expect buying and holding a share of Orkla?

Welcome investor! Orkla's management wants to use your money to grow the business. In return you get a share of Orkla.

First you should know what it really means to hold a share of Orkla. And how you can make/lose money.

Speculation

The Price per Share of Orkla is $9.3. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Orkla.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Orkla, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $4.55. Based on the TTM, the Book Value Change Per Share is $0.08 per quarter. Based on the YOY, the Book Value Change Per Share is $0.09 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.14 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Orkla.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 $% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share
Usd Eps0.111.2%0.131.4%0.131.3%0.121.3%0.111.2%
Usd Book Value Change Per Share0.192.0%0.080.8%0.091.0%0.070.8%0.050.5%
Usd Dividend Per Share0.000.0%0.141.5%0.070.8%0.111.2%0.131.4%
Usd Total Gains Per Share0.192.0%0.222.4%0.161.8%0.182.0%0.171.9%
Usd Price Per Share9.48-8.12-7.27-8.63-8.71-
Price to Earnings Ratio21.70-16.70-14.62-19.15-16.02-
Price-to-Total Gains Ratio49.90-49.65-60.82--77.67-90.30-
Price to Book Ratio2.08-1.83-1.75-2.30-2.60-
Price-to-Total Gains Ratio49.90-49.65-60.82--77.67-90.30-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share9.3
Number of shares107
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.140.11
Usd Book Value Change Per Share0.080.07
Usd Total Gains Per Share0.220.18
Gains per Quarter (107 shares)23.4019.48
Gains per Year (107 shares)93.5977.92
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
1603384473168
2120671789461146
318010027214292224
4241134366189123302
5301167460236154380
6361201554283184458
7421234648330215536
8481267742377246614
9541301836425277692
10602334930472307770

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%39.01.00.097.5%56.07.00.088.9%
Book Value Change Per Share3.01.00.075.0%9.03.00.075.0%15.05.00.075.0%29.011.00.072.5%38.022.03.060.3%
Dividend per Share2.00.02.050.0%10.00.02.083.3%18.00.02.090.0%33.00.07.082.5%51.00.012.081.0%
Total Gains per Share4.00.00.0100.0%12.00.00.0100.0%19.01.00.095.0%37.03.00.092.5%51.012.00.081.0%
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3.2. Key Performance Indicators

The key performance indicators of Orkla ASA ADR compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share--0.1900.078+143%0.092+107%0.072+165%0.046+313%
Book Value Per Share--4.5474.437+2%4.167+9%3.830+19%3.434+32%
Current Ratio--1.2961.227+6%1.159+12%1.254+3%1.494-13%
Debt To Asset Ratio--0.4470.454-2%0.473-6%0.444+1%0.413+8%
Debt To Equity Ratio--0.8610.875-1%0.929-7%0.828+4%0.727+19%
Dividend Per Share---0.141-100%0.072-100%0.110-100%0.127-100%
Eps--0.1090.131-17%0.125-13%0.117-7%0.109+1%
Free Cash Flow Per Share--0.2480.154+61%0.094+165%0.101+145%0.085+193%
Free Cash Flow To Equity Per Share--0.019-0.062+420%0.057-66%0.031-39%-0.010+152%
Gross Profit Margin--1.0000.295+239%0.474+111%0.754+33%0.877+14%
Intrinsic Value_10Y_max--10.388--------
Intrinsic Value_10Y_min--5.400--------
Intrinsic Value_1Y_max--0.500--------
Intrinsic Value_1Y_min--0.375--------
Intrinsic Value_3Y_max--1.914--------
Intrinsic Value_3Y_min--1.278--------
Intrinsic Value_5Y_max--3.826--------
Intrinsic Value_5Y_min--2.339--------
Market Cap9291192825.600-2%9471031920.0008111315682.288+17%7264364068.080+30%8625629915.405+10%8755077245.704+8%
Net Profit Margin--0.0680.082-17%0.081-16%0.089-24%0.102-33%
Operating Margin--0.1110.105+6%0.159-30%0.162-31%0.149-25%
Operating Ratio--0.8770.854+3%1.335-34%0.821+7%0.828+6%
Pb Ratio2.045-2%2.0851.830+14%1.746+19%2.304-9%2.596-20%
Pe Ratio21.288-2%21.70016.696+30%14.623+48%19.153+13%16.020+35%
Price Per Share9.300-2%9.4808.119+17%7.271+30%8.632+10%8.706+9%
Price To Free Cash Flow Ratio9.379-2%9.56014.561-34%392.008-98%497.600-98%266.557-96%
Price To Total Gains Ratio48.954-2%49.90149.651+1%60.819-18%-77.673+256%90.301-45%
Quick Ratio--0.2210.582-62%0.669-67%0.689-68%0.716-69%
Return On Assets--0.0130.016-17%0.016-15%0.017-22%0.018-28%
Return On Equity--0.0260.031-18%0.031-16%0.031-18%0.032-20%
Total Gains Per Share--0.1900.219-13%0.163+16%0.182+4%0.173+10%
Usd Book Value--4542592000.0004432629000.000+2%4163046000.000+9%3827025200.000+19%3449753900.000+32%
Usd Book Value Change Per Share--0.1900.078+143%0.092+107%0.072+165%0.046+313%
Usd Book Value Per Share--4.5474.437+2%4.167+9%3.830+19%3.434+32%
Usd Dividend Per Share---0.141-100%0.072-100%0.110-100%0.127-100%
Usd Eps--0.1090.131-17%0.125-13%0.117-7%0.109+1%
Usd Free Cash Flow--247664000.000153709000.000+61%93587000.000+165%100905600.000+145%85031000.000+191%
Usd Free Cash Flow Per Share--0.2480.154+61%0.094+165%0.101+145%0.085+193%
Usd Free Cash Flow To Equity Per Share--0.019-0.062+420%0.057-66%0.031-39%-0.010+152%
Usd Market Cap9291192825.600-2%9471031920.0008111315682.288+17%7264364068.080+30%8625629915.405+10%8755077245.704+8%
Usd Price Per Share9.300-2%9.4808.119+17%7.271+30%8.632+10%8.706+9%
Usd Profit--109112000.000130962000.000-17%123165000.000-11%116711200.000-7%108813000.000+0%
Usd Revenue--1611104000.0001600846000.000+1%1521105000.000+6%1323171600.000+22%1099634600.000+47%
Usd Total Gains Per Share--0.1900.219-13%0.163+16%0.182+4%0.173+10%
 EOD+4 -4MRQTTM+21 -15YOY+20 -165Y+19 -1710Y+22 -14

3.3 Fundamental Score

Let's check the fundamental score of Orkla ASA ADR based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1521.288
Price to Book Ratio (EOD)Between0-12.045
Net Profit Margin (MRQ)Greater than00.068
Operating Margin (MRQ)Greater than00.111
Quick Ratio (MRQ)Greater than10.221
Current Ratio (MRQ)Greater than11.296
Debt to Asset Ratio (MRQ)Less than10.447
Debt to Equity Ratio (MRQ)Less than10.861
Return on Equity (MRQ)Greater than0.150.026
Return on Assets (MRQ)Greater than0.050.013
Total5/10 (50.0%)

3.4 Technical Score

Let's check the technical score of Orkla ASA ADR based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
OpenGreater thanClose9.300
Total0/1 (0.0%)

4. In-depth Analysis

4.1 About Orkla ASA ADR

Orkla ASA engages in branded consumer goods, and industrial and financial investment businesses. The company offers branded products, including frozen pizza, ketchup, soups, sauces, bread toppings, and ready-to-eat meals through grocery channels, as well as food service, convenience stores, and petrol stations. It also provides confectionery, biscuit, and snack products; and spices, masalas, and various food products based on dried mixes. In addition, the company offers personal care, hygiene, laundry detergent, and cleaning products; dietary supplement, oral care, sport nutrition, and weight control products; wound care products and first aid equipment; painting tools and accessories; basic and wool garments; and professional cleaning products. It operates Gymgrossisten, Proteinfabrikken, Bodystore, and Fitnesstukku e-commerce portals for health and sports nutrition products; and restaurants. Additionally, the company supplies margarine and butter blends, bread and cake improvers and mixes, yeast, marzipan, and ice cream ingredients; produces and supplies hydro power to the Nordic power market; and develops and sells real estate properties. It offers its food products under the Grandiosa, TORO, Stabburet, Felix, Paulúns, Fun Light, Abba, Beauvais, Kalles, Den Gamle Fabrik, Hamé, and Vitana brands; confectionery and snacks under the KiMs, Nidar, Stratos, Sætre, Göteborgs Kex, OLW, Panda, Laima, Selga, Taffel, Kalev, and Nói Síríus brands; home and personal care products under Zalo, OMO, Blenda, Jif, Define, Solidox, Dr Greve, Lano, and Bliw; health produtcs under Möller's, Jordan, Vitalab, OSL, Cederroth First Aid, Salvequick, Livol, Nutrilett, Maxim, Collett, Solidox and CuraMed brands; and food ingredients under the Odense, Mors Hjemmebakte, KronJäst, Bakkedal, and NATURLI brands. It has operations in Norway, Sweden, Denmark, Finland, Iceland, the Baltics, rest of Europe, and internationally. The company was founded in 1918 and is headquartered in Oslo, Norway.

Fundamental data was last updated by Penke on 2024-11-06 07:04:05.

4.2 In-depth Summary

4.2.1. Financial Health Summary

Profitability Details
 Compared to previous yearCompared to industry
The company is making a profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is just able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

4.2.2. Valuation Summary

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is fair priced.
Based on how much money comes from the company's main activities, the company is cheap.
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4.3 Financial Health

4.3.1. Profitability

4.3.1 Profitability
4.3.1.1. Net Profit Margin

Measures how much net profit Orkla earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Orkla to the Packaged Foods industry mean.
  • A Net Profit Margin of 6.8% means that $0.07 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Orkla ASA ADR:

  • The MRQ is 6.8%. The company is making a profit. +1
  • The TTM is 8.2%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ6.8%TTM8.2%-1.4%
TTM8.2%YOY8.1%+0.1%
TTM8.2%5Y8.9%-0.7%
5Y8.9%10Y10.2%-1.3%
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
MRQ6.8%3.5%+3.3%
TTM8.2%3.3%+4.9%
YOY8.1%2.8%+5.3%
5Y8.9%3.1%+5.8%
10Y10.2%3.5%+6.7%
4.3.1.2. Return on Assets

Shows how efficient Orkla is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Orkla to the Packaged Foods industry mean.
  • 1.3% Return on Assets means that Orkla generated $0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Orkla ASA ADR:

  • The MRQ is 1.3%. Using its assets, the company is less efficient in making profit.
  • The TTM is 1.6%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ1.3%TTM1.6%-0.3%
TTM1.6%YOY1.6%+0.1%
TTM1.6%5Y1.7%-0.1%
5Y1.7%10Y1.8%-0.1%
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
MRQ1.3%1.2%+0.1%
TTM1.6%1.1%+0.5%
YOY1.6%1.1%+0.5%
5Y1.7%1.2%+0.5%
10Y1.8%1.3%+0.5%
4.3.1.3. Return on Equity

Shows how efficient Orkla is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Orkla to the Packaged Foods industry mean.
  • 2.6% Return on Equity means Orkla generated $0.03 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Orkla ASA ADR:

  • The MRQ is 2.6%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 3.1%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ2.6%TTM3.1%-0.5%
TTM3.1%YOY3.1%+0.1%
TTM3.1%5Y3.1%0.0%
5Y3.1%10Y3.2%0.0%
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
MRQ2.6%2.5%+0.1%
TTM3.1%2.4%+0.7%
YOY3.1%2.2%+0.9%
5Y3.1%2.4%+0.7%
10Y3.2%2.5%+0.7%
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4.3.2. Operating Efficiency of Orkla ASA ADR.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Orkla is operating .

  • Measures how much profit Orkla makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Orkla to the Packaged Foods industry mean.
  • An Operating Margin of 11.1% means the company generated $0.11  for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Orkla ASA ADR:

  • The MRQ is 11.1%. The company is operating less efficient.
  • The TTM is 10.5%. The company is operating less efficient.
Trends
Current periodCompared to+/- 
MRQ11.1%TTM10.5%+0.6%
TTM10.5%YOY15.9%-5.4%
TTM10.5%5Y16.2%-5.7%
5Y16.2%10Y14.9%+1.3%
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
MRQ11.1%5.7%+5.4%
TTM10.5%4.3%+6.2%
YOY15.9%4.3%+11.6%
5Y16.2%4.3%+11.9%
10Y14.9%4.9%+10.0%
4.3.2.2. Operating Ratio

Measures how efficient Orkla is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Packaged Foods industry mean).
  • An Operation Ratio of 0.88 means that the operating costs are $0.88 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Orkla ASA ADR:

  • The MRQ is 0.877. The company is less efficient in keeping operating costs low.
  • The TTM is 0.854. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ0.877TTM0.854+0.023
TTM0.854YOY1.335-0.481
TTM0.8545Y0.821+0.033
5Y0.82110Y0.828-0.007
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8771.372-0.495
TTM0.8541.272-0.418
YOY1.3351.156+0.179
5Y0.8211.128-0.307
10Y0.8281.060-0.232
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4.4.3. Liquidity of Orkla ASA ADR.

4.4.3. Liquidity
4.4.3.1. Current Ratio

Measures if Orkla is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Packaged Foods industry mean).
  • A Current Ratio of 1.30 means the company has $1.30 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Orkla ASA ADR:

  • The MRQ is 1.296. The company is just able to pay all its short-term debts.
  • The TTM is 1.227. The company is just able to pay all its short-term debts.
Trends
Current periodCompared to+/- 
MRQ1.296TTM1.227+0.069
TTM1.227YOY1.159+0.067
TTM1.2275Y1.254-0.027
5Y1.25410Y1.494-0.240
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
MRQ1.2961.565-0.269
TTM1.2271.573-0.346
YOY1.1591.628-0.469
5Y1.2541.648-0.394
10Y1.4941.675-0.181
4.4.3.2. Quick Ratio

Measures if Orkla is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Orkla to the Packaged Foods industry mean.
  • A Quick Ratio of 0.22 means the company can pay off $0.22 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Orkla ASA ADR:

  • The MRQ is 0.221. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.582. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.221TTM0.582-0.361
TTM0.582YOY0.669-0.087
TTM0.5825Y0.689-0.106
5Y0.68910Y0.716-0.027
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
MRQ0.2210.599-0.378
TTM0.5820.620-0.038
YOY0.6690.673-0.004
5Y0.6890.745-0.056
10Y0.7160.798-0.082
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4.5.4. Solvency of Orkla ASA ADR.

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

Measures how much % of Orkla assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Orkla to Packaged Foods industry mean.
  • A Debt to Asset Ratio of 0.45 means that Orkla assets are financed with 44.7% credit (debt) and the remaining percentage (100% - 44.7%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Orkla ASA ADR:

  • The MRQ is 0.447. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.454. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.447TTM0.454-0.008
TTM0.454YOY0.473-0.019
TTM0.4545Y0.444+0.010
5Y0.44410Y0.413+0.032
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
MRQ0.4470.466-0.019
TTM0.4540.479-0.025
YOY0.4730.485-0.012
5Y0.4440.482-0.038
10Y0.4130.485-0.072
4.5.4.2. Debt to Equity Ratio

Measures if Orkla is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Orkla to the Packaged Foods industry mean.
  • A Debt to Equity ratio of 86.1% means that company has $0.86 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Orkla ASA ADR:

  • The MRQ is 0.861. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.875. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.861TTM0.875-0.013
TTM0.875YOY0.929-0.055
TTM0.8755Y0.828+0.046
5Y0.82810Y0.727+0.102
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8610.875-0.014
TTM0.8750.910-0.035
YOY0.9290.959-0.030
5Y0.8280.976-0.148
10Y0.7271.039-0.312
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4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Orkla generates.

  • Above 15 is considered overpriced but always compare Orkla to the Packaged Foods industry mean.
  • A PE ratio of 21.70 means the investor is paying $21.70 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Orkla ASA ADR:

  • The EOD is 21.288. Based on the earnings, the company is fair priced.
  • The MRQ is 21.700. Based on the earnings, the company is fair priced.
  • The TTM is 16.696. Based on the earnings, the company is fair priced.
Trends
Current periodCompared to+/- 
EOD21.288MRQ21.700-0.412
MRQ21.700TTM16.696+5.004
TTM16.696YOY14.623+2.073
TTM16.6965Y19.153-2.457
5Y19.15310Y16.020+3.133
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
EOD21.28813.725+7.563
MRQ21.70012.971+8.729
TTM16.69612.523+4.173
YOY14.62313.678+0.945
5Y19.15316.773+2.380
10Y16.02018.988-2.968
4.6.2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Orkla ASA ADR:

  • The EOD is 9.379. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The MRQ is 9.560. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The TTM is 14.561. Based on how much money comes from the company's main activities, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD9.379MRQ9.560-0.182
MRQ9.560TTM14.561-5.000
TTM14.561YOY392.008-377.447
TTM14.5615Y497.600-483.039
5Y497.60010Y266.557+231.044
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
EOD9.3796.728+2.651
MRQ9.5606.293+3.267
TTM14.5614.557+10.004
YOY392.0080.566+391.442
5Y497.6001.659+495.941
10Y266.5571.348+265.209
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4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

Measures if the stock price of Orkla is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Packaged Foods industry mean).
  • A PB ratio of 2.08 means the investor is paying $2.08 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Orkla ASA ADR:

  • The EOD is 2.045. Based on the equity, the company is underpriced. +1
  • The MRQ is 2.085. Based on the equity, the company is underpriced. +1
  • The TTM is 1.830. Based on the equity, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD2.045MRQ2.085-0.040
MRQ2.085TTM1.830+0.255
TTM1.830YOY1.746+0.084
TTM1.8305Y2.304-0.474
5Y2.30410Y2.596-0.292
Compared to industry (Packaged Foods)
PeriodCompanyIndustry (mean)+/- 
EOD2.0451.499+0.546
MRQ2.0851.357+0.728
TTM1.8301.525+0.305
YOY1.7461.578+0.168
5Y2.3041.890+0.414
10Y2.5962.496+0.100
4.6.2. Total Gains per Share
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6. Financial Statements




6.1. Latest Balance Sheet

Balance Sheet of 2024-09-30. Currency in NOK. All numbers in thousands.

Summary
Total Assets89,234,000
Total Liabilities39,858,000
Total Stockholder Equity46,269,000
 As reported
Total Liabilities 39,858,000
Total Stockholder Equity+ 46,269,000
Total Assets = 89,234,000

Assets

Total Assets89,234,000
Total Current Assets22,551,000
Long-term Assets66,683,000
Total Current Assets
Cash And Cash Equivalents 1,145,000
Short-term Investments 1,353,000
Inventory 10,388,000
Other Current Assets 9,665,000
Total Current Assets  (as reported)22,551,000
Total Current Assets  (calculated)22,551,000
+/-0
Long-term Assets
Property Plant Equipment 20,874,000
Long-term Assets Other 9,609,000
Long-term Assets  (as reported)66,683,000
Long-term Assets  (calculated)30,483,000
+/- 36,200,000

Liabilities & Shareholders' Equity

Total Current Liabilities17,406,000
Long-term Liabilities22,452,000
Total Stockholder Equity46,269,000
Total Current Liabilities
Short-term Debt 3,000,000
Accounts payable 8,560,000
Other Current Liabilities 5,293,000
Total Current Liabilities  (as reported)17,406,000
Total Current Liabilities  (calculated)16,853,000
+/- 553,000
Long-term Liabilities
Long-term Liabilities  (as reported)22,452,000
Long-term Liabilities  (calculated)0
+/- 22,452,000
Total Stockholder Equity
Common Stock1,970,000
Retained Earnings 44,299,000
Total Stockholder Equity (as reported)46,269,000
Total Stockholder Equity (calculated)46,269,000
+/-0
Other
Cash and Short Term Investments 2,498,000
Common Stock Shares Outstanding 999,054
Current Deferred Revenue553,000
Liabilities and Stockholders Equity 89,234,000
Net Debt 17,182,000
Short Long Term Debt Total 18,327,000



6.2. Balance Sheets Structured

Currency in NOK. All numbers in thousands.

 Trend2024-09-302024-06-302024-03-312023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-31
> Total Assets 
0
0
0
94,686,000
86,702,000
87,650,000
90,155,000
87,541,000
88,804,000
73,497,000
72,167,000
66,396,000
66,552,000
63,141,000
59,885,000
57,686,000
57,151,000
59,538,000
52,274,000
52,115,000
51,867,000
51,731,000
51,051,000
50,112,000
50,939,000
48,894,000
53,452,000
54,238,000
55,809,000
55,565,000
55,049,000
55,604,000
56,607,000
57,338,000
60,943,000
53,408,000
52,496,000
49,517,000
50,041,000
52,509,000
54,610,000
55,819,000
57,061,000
57,413,000
64,021,000
62,156,000
63,745,000
63,007,000
62,522,000
67,645,000
70,438,000
70,564,000
73,011,000
76,616,000
78,583,000
80,671,000
87,631,000
88,769,000
86,376,000
86,592,000
88,907,000
88,364,000
89,234,000
89,234,00088,364,00088,907,00086,592,00086,376,00088,769,00087,631,00080,671,00078,583,00076,616,00073,011,00070,564,00070,438,00067,645,00062,522,00063,007,00063,745,00062,156,00064,021,00057,413,00057,061,00055,819,00054,610,00052,509,00050,041,00049,517,00052,496,00053,408,00060,943,00057,338,00056,607,00055,604,00055,049,00055,565,00055,809,00054,238,00053,452,00048,894,00050,939,00050,112,00051,051,00051,731,00051,867,00052,115,00052,274,00059,538,00057,151,00057,686,00059,885,00063,141,00066,552,00066,396,00072,167,00073,497,00088,804,00087,541,00090,155,00087,650,00086,702,00094,686,000000
   > Total Current Assets 
0
0
0
39,339,000
36,629,000
37,605,000
38,046,000
45,866,000
46,408,000
35,685,000
34,756,000
29,855,000
30,966,000
27,700,000
35,840,000
34,058,000
32,694,000
28,931,000
13,858,000
14,020,000
14,389,000
13,948,000
16,388,000
13,004,000
12,874,000
11,774,000
13,159,000
13,010,000
13,550,000
13,106,000
13,162,000
13,075,000
13,270,000
21,834,000
26,136,000
17,696,000
17,160,000
13,742,000
14,228,000
14,802,000
14,382,000
14,365,000
15,206,000
14,673,000
17,186,000
15,756,000
16,831,000
17,031,000
15,742,000
16,208,000
17,000,000
16,444,000
18,733,000
19,601,000
20,488,000
20,966,000
23,370,000
22,978,000
21,832,000
21,594,000
22,693,000
22,279,000
22,551,000
22,551,00022,279,00022,693,00021,594,00021,832,00022,978,00023,370,00020,966,00020,488,00019,601,00018,733,00016,444,00017,000,00016,208,00015,742,00017,031,00016,831,00015,756,00017,186,00014,673,00015,206,00014,365,00014,382,00014,802,00014,228,00013,742,00017,160,00017,696,00026,136,00021,834,00013,270,00013,075,00013,162,00013,106,00013,550,00013,010,00013,159,00011,774,00012,874,00013,004,00016,388,00013,948,00014,389,00014,020,00013,858,00028,931,00032,694,00034,058,00035,840,00027,700,00030,966,00029,855,00034,756,00035,685,00046,408,00045,866,00038,046,00037,605,00036,629,00039,339,000000
       Cash And Cash Equivalents 
0
0
0
4,153,000
3,546,000
3,150,000
3,337,000
2,819,000
2,378,000
6,659,000
8,205,000
5,453,000
6,517,000
4,909,000
2,748,000
7,091,000
5,411,000
2,369,000
1,337,000
1,690,000
2,388,000
1,681,000
1,653,000
2,514,000
2,116,000
839,000
1,105,000
607,000
1,464,000
954,000
904,000
1,083,000
1,044,000
1,029,000
1,541,000
4,719,000
4,124,000
877,000
1,270,000
1,806,000
1,260,000
950,000
1,322,000
1,493,000
2,033,000
1,399,000
1,948,000
3,032,000
1,028,000
865,000
1,250,000
917,000
1,863,000
1,138,000
1,075,000
1,180,000
1,315,000
1,124,000
1,054,000
991,000
1,008,000
1,143,000
1,145,000
1,145,0001,143,0001,008,000991,0001,054,0001,124,0001,315,0001,180,0001,075,0001,138,0001,863,000917,0001,250,000865,0001,028,0003,032,0001,948,0001,399,0002,033,0001,493,0001,322,000950,0001,260,0001,806,0001,270,000877,0004,124,0004,719,0001,541,0001,029,0001,044,0001,083,000904,000954,0001,464,000607,0001,105,000839,0002,116,0002,514,0001,653,0001,681,0002,388,0001,690,0001,337,0002,369,0005,411,0007,091,0002,748,0004,909,0006,517,0005,453,0008,205,0006,659,0002,378,0002,819,0003,337,0003,150,0003,546,0004,153,000000
       Short-term Investments 
0
0
0
11,087,000
11,740,000
11,282,000
11,750,000
11,674,000
11,113,000
9,468,000
7,438,000
5,502,000
4,967,000
3,666,000
3,801,000
3,601,000
3,169,000
1,056,000
992,000
1,051,000
1,050,000
931,000
826,000
734,000
691,000
1,287,000
1,192,000
1,376,000
374,000
288,000
211,000
107,000
20,000
19,000
15,000
17,000
17,000
10,000
11,000
13,000
5,000
4,000
3,000
1,000
0
0
0
0
0
0
0
0
0
0
1,366,000
-404,000
1,357,000
1,389,000
1,170,000
332,000
1,380,000
1,379,000
1,353,000
1,353,0001,379,0001,380,000332,0001,170,0001,389,0001,357,000-404,0001,366,00000000000001,0003,0004,0005,00013,00011,00010,00017,00017,00015,00019,00020,000107,000211,000288,000374,0001,376,0001,192,0001,287,000691,000734,000826,000931,0001,050,0001,051,000992,0001,056,0003,169,0003,601,0003,801,0003,666,0004,967,0005,502,0007,438,0009,468,00011,113,00011,674,00011,750,00011,282,00011,740,00011,087,000000
       Net Receivables 
0
0
0
0
0
0
14,800,000
10,380,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,061,000
6,590,000
6,893,000
18,784,000
7,909,211
8,863,329
1,715,594
9,067,432
6,320,000
6,030,000
6,310,000
6,288,000
6,430,000
8,413,000
7,400,000
7,917,000
6,648,000
7,973,000
7,862,000
8,352,000
7,129,000
8,563,000
9,063,000
9,381,000
8,477,000
10,481,000
10,500,000
10,248,000
10,468,000
11,404,000
10,865,000
0
010,865,00011,404,00010,468,00010,248,00010,500,00010,481,0008,477,0009,381,0009,063,0008,563,0007,129,0008,352,0007,862,0007,973,0006,648,0007,917,0007,400,0008,413,0006,430,0006,288,0006,310,0006,030,0006,320,0009,067,4321,715,5948,863,3297,909,21118,784,0006,893,0006,590,0006,061,0000000000000000000000000010,380,00014,800,000000000
       Other Current Assets 
0
0
0
16,568,000
13,300,000
14,622,000
-382,000
13,891,000
25,335,000
11,631,000
11,019,000
10,853,000
11,206,000
11,189,000
24,749,000
19,123,000
19,773,000
20,525,000
6,558,000
6,443,000
5,962,000
6,483,000
9,715,000
5,683,000
5,827,000
5,196,000
5,850,000
6,188,000
6,322,000
6,363,000
6,400,000
6,620,000
6,590,000
14,999,000
18,784,000
7,163,000
7,205,000
6,931,000
6,952,000
6,976,000
7,019,000
7,273,000
7,628,000
7,221,000
8,413,000
7,400,000
7,917,000
7,373,000
7,973,000
7,862,000
8,352,000
7,993,000
8,563,000
9,063,000
8,015,000
628,000
1,371,000
1,407,000
1,264,000
881,000
1,781,000
1,764,000
9,665,000
9,665,0001,764,0001,781,000881,0001,264,0001,407,0001,371,000628,0008,015,0009,063,0008,563,0007,993,0008,352,0007,862,0007,973,0007,373,0007,917,0007,400,0008,413,0007,221,0007,628,0007,273,0007,019,0006,976,0006,952,0006,931,0007,205,0007,163,00018,784,00014,999,0006,590,0006,620,0006,400,0006,363,0006,322,0006,188,0005,850,0005,196,0005,827,0005,683,0009,715,0006,483,0005,962,0006,443,0006,558,00020,525,00019,773,00019,123,00024,749,00011,189,00011,206,00010,853,00011,019,00011,631,00025,335,00013,891,000-382,00014,622,00013,300,00016,568,000000
   > Long-term Assets 
0
0
0
55,347,000
50,073,000
50,045,000
52,109,000
41,675,000
42,396,000
37,812,000
37,411,000
36,541,000
35,586,000
35,441,000
24,045,000
23,628,000
24,457,000
30,607,000
38,416,000
38,095,000
37,478,000
37,783,000
34,663,000
37,108,000
38,065,000
37,120,000
40,293,000
41,228,000
42,259,000
42,459,000
41,887,000
42,529,000
43,337,000
35,504,000
34,807,000
35,712,000
35,336,000
35,775,000
35,813,000
37,707,000
40,228,000
41,454,000
41,855,000
42,740,000
46,835,000
46,400,000
46,914,000
45,976,000
46,780,000
51,437,000
53,438,000
54,120,000
54,278,000
57,015,000
58,095,000
59,705,000
64,261,000
65,791,000
64,544,000
64,998,000
66,214,000
66,085,000
66,683,000
66,683,00066,085,00066,214,00064,998,00064,544,00065,791,00064,261,00059,705,00058,095,00057,015,00054,278,00054,120,00053,438,00051,437,00046,780,00045,976,00046,914,00046,400,00046,835,00042,740,00041,855,00041,454,00040,228,00037,707,00035,813,00035,775,00035,336,00035,712,00034,807,00035,504,00043,337,00042,529,00041,887,00042,459,00042,259,00041,228,00040,293,00037,120,00038,065,00037,108,00034,663,00037,783,00037,478,00038,095,00038,416,00030,607,00024,457,00023,628,00024,045,00035,441,00035,586,00036,541,00037,411,00037,812,00042,396,00041,675,00052,109,00050,045,00050,073,00055,347,000000
       Property Plant Equipment 
0
0
0
24,694,000
24,587,000
25,185,000
24,670,000
17,730,000
17,845,000
17,345,000
17,828,000
18,058,000
17,913,000
18,142,000
9,932,000
9,929,000
10,534,000
12,048,000
12,003,000
11,651,000
11,371,000
11,174,000
9,548,000
9,484,000
9,599,000
9,667,000
10,256,000
10,523,000
10,999,000
10,892,000
10,841,000
11,038,000
11,043,000
11,518,000
11,323,000
11,683,000
11,567,000
11,809,000
11,936,000
12,760,000
14,121,000
14,511,000
14,816,000
15,402,000
16,606,000
16,421,000
16,550,000
16,274,000
16,189,000
16,854,000
17,404,000
17,458,000
17,332,000
18,273,000
18,650,000
19,138,000
20,691,000
21,245,000
20,648,000
20,700,000
20,951,000
20,583,000
20,874,000
20,874,00020,583,00020,951,00020,700,00020,648,00021,245,00020,691,00019,138,00018,650,00018,273,00017,332,00017,458,00017,404,00016,854,00016,189,00016,274,00016,550,00016,421,00016,606,00015,402,00014,816,00014,511,00014,121,00012,760,00011,936,00011,809,00011,567,00011,683,00011,323,00011,518,00011,043,00011,038,00010,841,00010,892,00010,999,00010,523,00010,256,0009,667,0009,599,0009,484,0009,548,00011,174,00011,371,00011,651,00012,003,00012,048,00010,534,0009,929,0009,932,00018,142,00017,913,00018,058,00017,828,00017,345,00017,845,00017,730,00024,670,00025,185,00024,587,00024,694,000000
       Goodwill 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
7,269,000
0
0
0
11,360,000
0
0
0
10,291,000
0
0
0
12,608,000
0
0
0
12,741,000
0
0
0
14,150,000
0
0
0
14,673,000
0
0
0
16,533,000
0
0
0
17,365,000
0
0
0
22,086,000
0
0
0
24,693,000
0
0
0
26,196,000
0
0
0
00026,196,00000024,693,00000022,086,00000017,365,00000016,533,00000014,673,00000014,150,00000012,741,00000012,608,00000010,291,00000011,360,0000007,269,000000000000000000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
12,786,000
13,263,000
4,126,000
3,839,000
4,678,756
4,474,105
961,386
4,971,958
4,166,000
4,118,000
4,434,000
4,491,000
4,321,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
00000000000000000004,321,0004,491,0004,434,0004,118,0004,166,0004,971,958961,3864,474,1054,678,7563,839,0004,126,00013,263,00012,786,0000000000000000000000000000000000
       Intangible Assets 
0
0
0
14,217,000
14,724,000
14,969,000
15,787,000
12,337,000
12,799,000
12,848,000
13,082,000
12,460,000
12,674,000
12,616,000
0
2,679,000
0
0
0
4,008,000
0
0
0
4,208,000
0
0
0
5,003,000
0
0
0
5,500,000
18,690,000
19,548,000
19,363,000
5,731,000
24,479,026
4,914,356
25,901,917
5,904,000
21,753,000
22,278,000
22,307,000
6,194,000
0
0
0
6,844,000
0
0
0
8,468,000
0
32,121,000
32,481,000
8,931,000
36,046,000
36,522,000
35,604,000
35,822,000
36,611,000
36,128,000
0
036,128,00036,611,00035,822,00035,604,00036,522,00036,046,0008,931,00032,481,00032,121,00008,468,0000006,844,0000006,194,00022,307,00022,278,00021,753,0005,904,00025,901,9174,914,35624,479,0265,731,00019,363,00019,548,00018,690,0005,500,0000005,003,0000004,208,0000004,008,0000002,679,000012,616,00012,674,00012,460,00013,082,00012,848,00012,799,00012,337,00015,787,00014,969,00014,724,00014,217,000000
       Other Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
464,000
341,000
312,000
282,000
302,630
286,628
56,436
268,684
204,000
236,000
231,000
241,000
314,000
393,000
398,000
404,000
458,000
336,000
352,000
393,000
570,000
383,000
390,000
392,000
0
0
403,000
399,000
0
0
0
0
0000399,000403,00000392,000390,000383,000570,000393,000352,000336,000458,000404,000398,000393,000314,000241,000231,000236,000204,000268,68456,436286,628302,630282,000312,000341,000464,0000000000000000000000000000000000
> Total Liabilities 
0
0
0
45,761,000
40,860,000
46,197,000
45,632,000
40,610,000
39,451,000
31,242,000
32,505,000
32,010,000
31,567,000
30,920,000
28,712,000
26,604,000
25,780,000
31,113,000
22,501,000
21,335,000
20,763,000
22,132,000
21,202,000
18,808,000
19,037,000
18,378,000
21,340,000
20,492,000
21,851,000
23,281,000
22,517,000
21,728,000
21,494,000
23,319,000
22,959,000
18,570,000
17,675,000
17,449,000
17,728,000
18,429,000
20,472,000
23,313,000
23,240,000
22,501,000
25,423,000
26,239,000
26,194,000
25,303,000
24,664,000
31,028,000
32,281,000
31,213,000
33,113,000
36,946,000
36,579,000
37,515,000
41,120,000
43,418,000
40,392,000
39,844,000
39,621,000
41,051,000
39,858,000
39,858,00041,051,00039,621,00039,844,00040,392,00043,418,00041,120,00037,515,00036,579,00036,946,00033,113,00031,213,00032,281,00031,028,00024,664,00025,303,00026,194,00026,239,00025,423,00022,501,00023,240,00023,313,00020,472,00018,429,00017,728,00017,449,00017,675,00018,570,00022,959,00023,319,00021,494,00021,728,00022,517,00023,281,00021,851,00020,492,00021,340,00018,378,00019,037,00018,808,00021,202,00022,132,00020,763,00021,335,00022,501,00031,113,00025,780,00026,604,00028,712,00030,920,00031,567,00032,010,00032,505,00031,242,00039,451,00040,610,00045,632,00046,197,00040,860,00045,761,000000
   > Total Current Liabilities 
0
0
0
12,380,000
14,177,000
15,453,000
15,101,000
14,709,000
14,429,000
11,954,000
12,880,000
13,357,000
13,233,000
12,473,000
14,195,000
13,966,000
12,604,000
14,614,000
8,409,000
9,925,000
9,372,000
8,525,000
8,412,000
6,599,000
6,890,000
6,421,000
6,947,000
7,579,000
8,109,000
7,920,000
7,748,000
10,410,000
8,438,000
9,450,000
11,489,000
9,016,000
8,392,000
8,291,000
8,665,000
9,028,000
10,404,000
11,031,000
11,486,000
9,918,000
11,530,000
11,537,000
11,456,000
10,873,000
10,935,000
15,037,000
15,934,000
15,223,000
15,699,000
17,975,000
16,940,000
17,654,000
20,664,000
19,216,000
19,437,000
17,049,000
19,551,000
18,815,000
17,406,000
17,406,00018,815,00019,551,00017,049,00019,437,00019,216,00020,664,00017,654,00016,940,00017,975,00015,699,00015,223,00015,934,00015,037,00010,935,00010,873,00011,456,00011,537,00011,530,0009,918,00011,486,00011,031,00010,404,0009,028,0008,665,0008,291,0008,392,0009,016,00011,489,0009,450,0008,438,00010,410,0007,748,0007,920,0008,109,0007,579,0006,947,0006,421,0006,890,0006,599,0008,412,0008,525,0009,372,0009,925,0008,409,00014,614,00012,604,00013,966,00014,195,00012,473,00013,233,00013,357,00012,880,00011,954,00014,429,00014,709,00015,101,00015,453,00014,177,00012,380,000000
       Short-term Debt 
0
0
0
1,746,000
2,764,000
3,533,000
2,880,000
1,380,000
2,472,000
897,000
1,021,000
1,472,000
1,568,000
1,103,000
2,732,000
3,348,000
2,033,000
2,340,000
1,664,000
2,783,000
2,481,000
1,512,000
990,000
598,000
665,000
481,000
370,000
253,000
903,000
645,000
390,000
2,468,000
310,000
1,051,000
3,001,000
312,000
294,000
302,000
687,000
351,000
1,581,000
2,672,000
2,492,000
803,000
1,122,000
1,502,000
799,000
664,000
581,000
4,264,000
4,591,000
3,603,000
3,465,000
5,462,000
3,679,000
4,094,000
6,101,000
5,395,000
5,722,000
3,315,000
5,579,000
5,422,000
3,000,000
3,000,0005,422,0005,579,0003,315,0005,722,0005,395,0006,101,0004,094,0003,679,0005,462,0003,465,0003,603,0004,591,0004,264,000581,000664,000799,0001,502,0001,122,000803,0002,492,0002,672,0001,581,000351,000687,000302,000294,000312,0003,001,0001,051,000310,0002,468,000390,000645,000903,000253,000370,000481,000665,000598,000990,0001,512,0002,481,0002,783,0001,664,0002,340,0002,033,0003,348,0002,732,0001,103,0001,568,0001,472,0001,021,000897,0002,472,0001,380,0002,880,0003,533,0002,764,0001,746,000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10,065,000
9,220,000
10,641,000
3,001,000
100,877
361,668
74,752
896,048
131,000
1,224,000
2,320,000
2,134,000
442,000
728,000
1,128,000
443,000
329,000
261,000
3,943,000
4,208,000
3,195,000
3,065,000
5,045,000
3,260,000
3,651,000
5,584,000
4,889,000
5,235,000
2,780,000
5,033,000
4,897,000
0
04,897,0005,033,0002,780,0005,235,0004,889,0005,584,0003,651,0003,260,0005,045,0003,065,0003,195,0004,208,0003,943,000261,000329,000443,0001,128,000728,000442,0002,134,0002,320,0001,224,000131,000896,04874,752361,668100,8773,001,00010,641,0009,220,00010,065,0000000000000000000000000000000000
       Accounts payable 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,565,000
0
0
0
2,848,000
0
0
0
1,974,000
3,486,000
3,400,000
3,711,000
3,846,000
4,134,000
4,264,000
4,308,000
4,329,000
4,396,000
4,537,000
4,563,000
4,940,000
4,713,000
4,796,000
4,580,000
4,907,000
5,293,000
5,097,000
5,354,000
5,591,000
6,549,000
6,059,000
6,583,000
6,526,000
6,520,000
6,843,000
7,132,000
7,286,000
7,459,000
7,764,000
7,937,000
8,134,000
8,967,000
8,336,000
8,403,000
8,573,000
8,662,000
8,275,000
8,560,000
8,560,0008,275,0008,662,0008,573,0008,403,0008,336,0008,967,0008,134,0007,937,0007,764,0007,459,0007,286,0007,132,0006,843,0006,520,0006,526,0006,583,0006,059,0006,549,0005,591,0005,354,0005,097,0005,293,0004,907,0004,580,0004,796,0004,713,0004,940,0004,563,0004,537,0004,396,0004,329,0004,308,0004,264,0004,134,0003,846,0003,711,0003,400,0003,486,0001,974,0000002,848,0000002,565,000000000000000000
       Other Current Liabilities 
0
0
0
10,634,000
11,413,000
11,920,000
12,221,000
13,329,000
11,957,000
11,057,000
11,859,000
11,885,000
11,665,000
11,370,000
11,463,000
6,791,000
10,571,000
12,274,000
6,745,000
6,686,000
6,891,000
7,013,000
7,422,000
-1,974,000
2,739,000
2,540,000
2,866,000
3,126,000
3,072,000
3,011,000
3,050,000
2,938,000
3,732,000
3,862,000
3,925,000
3,865,000
3,385,000
3,193,000
3,398,000
3,857,000
3,530,000
3,262,000
3,640,000
2,123,000
3,859,000
3,976,000
4,074,000
4,237,000
3,834,000
3,930,000
4,211,000
4,334,000
4,775,000
4,749,000
5,324,000
5,426,000
5,596,000
5,485,000
5,312,000
5,161,000
5,310,000
5,118,000
5,293,000
5,293,0005,118,0005,310,0005,161,0005,312,0005,485,0005,596,0005,426,0005,324,0004,749,0004,775,0004,334,0004,211,0003,930,0003,834,0004,237,0004,074,0003,976,0003,859,0002,123,0003,640,0003,262,0003,530,0003,857,0003,398,0003,193,0003,385,0003,865,0003,925,0003,862,0003,732,0002,938,0003,050,0003,011,0003,072,0003,126,0002,866,0002,540,0002,739,000-1,974,0007,422,0007,013,0006,891,0006,686,0006,745,00012,274,00010,571,0006,791,00011,463,00011,370,00011,665,00011,885,00011,859,00011,057,00011,957,00013,329,00012,221,00011,920,00011,413,00010,634,000000
   > Long-term Liabilities 
0
0
0
33,381,000
26,683,000
30,744,000
30,531,000
25,901,000
25,022,000
19,288,000
19,625,000
18,653,000
18,334,000
18,447,000
14,517,000
12,638,000
13,176,000
16,499,000
14,092,000
11,410,000
11,391,000
13,607,000
12,790,000
12,209,000
12,147,000
11,957,000
14,393,000
12,913,000
13,742,000
15,361,000
14,769,000
11,318,000
13,056,000
13,869,000
11,470,000
9,554,000
9,283,000
9,158,000
9,063,000
9,401,000
10,068,000
12,282,000
11,754,000
12,583,000
13,893,000
14,702,000
14,738,000
14,430,000
13,729,000
15,991,000
16,347,000
15,990,000
17,414,000
18,971,000
19,639,000
19,861,000
20,456,000
24,202,000
20,955,000
22,795,000
20,070,000
22,236,000
22,452,000
22,452,00022,236,00020,070,00022,795,00020,955,00024,202,00020,456,00019,861,00019,639,00018,971,00017,414,00015,990,00016,347,00015,991,00013,729,00014,430,00014,738,00014,702,00013,893,00012,583,00011,754,00012,282,00010,068,0009,401,0009,063,0009,158,0009,283,0009,554,00011,470,00013,869,00013,056,00011,318,00014,769,00015,361,00013,742,00012,913,00014,393,00011,957,00012,147,00012,209,00012,790,00013,607,00011,391,00011,410,00014,092,00016,499,00013,176,00012,638,00014,517,00018,447,00018,334,00018,653,00019,625,00019,288,00025,022,00025,901,00030,531,00030,744,00026,683,00033,381,000000
       Other Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,749,000
4,146,000
4,279,000
4,662,000
5,310,436
5,621,848
1,110,149
5,738,881
4,384,000
4,539,000
4,406,000
4,424,000
4,672,000
5,186,000
5,149,000
5,221,000
4,896,000
4,942,000
5,121,000
5,157,000
5,187,000
5,152,000
5,296,000
5,338,000
0
0
5,274,000
5,190,000
0
0
0
0
00005,190,0005,274,000005,338,0005,296,0005,152,0005,187,0005,157,0005,121,0004,942,0004,896,0005,221,0005,149,0005,186,0004,672,0004,424,0004,406,0004,539,0004,384,0005,738,8811,110,1495,621,8485,310,4364,662,0004,279,0004,146,0003,749,0000000000000000000000000000000000
> Total Stockholder Equity
0
0
0
48,555,000
45,469,000
41,060,000
44,190,000
46,566,000
49,050,000
41,944,000
39,329,000
34,106,000
34,695,000
31,914,000
30,853,000
30,824,000
31,129,000
28,170,000
29,474,000
30,479,000
30,669,000
29,255,000
29,483,000
31,059,000
31,659,000
30,138,000
31,701,000
33,329,000
33,564,000
31,882,000
32,120,000
33,474,000
34,714,000
33,603,000
37,564,000
34,408,000
34,383,000
31,623,000
31,857,000
33,629,000
33,731,000
32,034,000
33,318,000
34,452,000
38,092,000
35,457,000
37,080,000
37,242,000
37,219,000
35,980,000
37,384,000
38,441,000
38,969,000
38,630,000
40,882,000
41,686,000
44,908,000
43,698,000
44,485,000
45,267,000
47,736,000
44,312,000
46,269,000
46,269,00044,312,00047,736,00045,267,00044,485,00043,698,00044,908,00041,686,00040,882,00038,630,00038,969,00038,441,00037,384,00035,980,00037,219,00037,242,00037,080,00035,457,00038,092,00034,452,00033,318,00032,034,00033,731,00033,629,00031,857,00031,623,00034,383,00034,408,00037,564,00033,603,00034,714,00033,474,00032,120,00031,882,00033,564,00033,329,00031,701,00030,138,00031,659,00031,059,00029,483,00029,255,00030,669,00030,479,00029,474,00028,170,00031,129,00030,824,00030,853,00031,914,00034,695,00034,106,00039,329,00041,944,00049,050,00046,566,00044,190,00041,060,00045,469,00048,555,000000
   Common Stock
0
0
0
1,995,000
1,995,000
1,995,000
1,995,000
1,999,000
2,000,000
1,995,000
1,995,000
1,997,000
1,984,000
1,984,000
1,984,000
1,274,000
1,985,000
1,987,000
1,987,000
1,274,000
1,990,000
1,993,000
1,995,000
1,274,000
1,993,000
1,994,000
1,992,000
1,274,000
1,993,000
1,993,000
1,994,000
1,274,000
1,992,000
1,993,000
1,993,000
1,274,000
1,995,000
1,983,000
1,971,000
1,274,000
1,971,000
1,972,000
1,972,000
1,252,000
1,972,000
1,972,000
1,972,000
1,252,000
1,966,000
1,967,000
1,967,000
1,252,000
1,967,000
1,968,000
1,968,000
1,252,000
1,968,000
1,969,000
1,969,000
1,969,000
1,969,000
1,970,000
1,970,000
1,970,0001,970,0001,969,0001,969,0001,969,0001,969,0001,968,0001,252,0001,968,0001,968,0001,967,0001,252,0001,967,0001,967,0001,966,0001,252,0001,972,0001,972,0001,972,0001,252,0001,972,0001,972,0001,971,0001,274,0001,971,0001,983,0001,995,0001,274,0001,993,0001,993,0001,992,0001,274,0001,994,0001,993,0001,993,0001,274,0001,992,0001,994,0001,993,0001,274,0001,995,0001,993,0001,990,0001,274,0001,987,0001,987,0001,985,0001,274,0001,984,0001,984,0001,984,0001,997,0001,995,0001,995,0002,000,0001,999,0001,995,0001,995,0001,995,0001,995,000000
   Retained Earnings Total Equity000000000000000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
36,662,000
38,914,000
2,332,000
42,940,000
41,729,000
42,516,000
3,702,000
45,767,000
42,342,000
0
042,342,00045,767,0003,702,00042,516,00041,729,00042,940,0002,332,00038,914,00036,662,00000000000000000000000000000000000000000000000000000000
   Capital Surplus 000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock000000000000000000000000000000000000000000000000000000000000000
   Other Stockholders Equity 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
28,869,000
711,000
0
0
0
715,000
0
0
0
719,000
0
0
0
720,000
0
0
0
720,000
32,722,000
31,610,000
35,571,000
721,000
39,842,539
7,336,634
38,980,044
697,000
31,760,000
30,062,000
31,346,000
720,000
36,120,000
33,485,000
35,108,000
720,000
35,253,000
34,013,000
35,417,000
715,000
37,002,000
-36,662,000
-38,914,000
-1,616,000
-42,940,000
-41,729,000
-42,516,000
-3,702,000
-45,767,000
-42,342,000
0
0-42,342,000-45,767,000-3,702,000-42,516,000-41,729,000-42,940,000-1,616,000-38,914,000-36,662,00037,002,000715,00035,417,00034,013,00035,253,000720,00035,108,00033,485,00036,120,000720,00031,346,00030,062,00031,760,000697,00038,980,0447,336,63439,842,539721,00035,571,00031,610,00032,722,000720,000000720,000000719,000000715,000000711,00028,869,00000000000000000



6.3. Balance Sheets

Currency in NOK. All numbers in thousands.