Cash flow Norconsult ASA

Stocks

NORCO

NO0013052209

Construction & Engineering

Market Closed - Oslo Bors Other stock markets 15:45:00 21/07/2026 BST			5-day change	1st Jan Change
37.95 ^NOK	+1.34%		+4.26%	-17.32%

07-06	Norconsult Loses Contract to Work on Statnett's Substation Project	MT
07-03	Norconsult ASA Announces Reversal of Awarded Contract With Anlegg Øst Entreprenør AS	CI

96a1b673afbed3.TQOnNkxwh0iq9n4QTFJLRsvL6mNtuIjMdnvKvNJZRIk.GkqKdB8v4g7ooS54HTs5Mo6smVFA0LCWW0yf66ghPO0ScMxmIzb-DJu8Ow

Published financial data: NORCONSULT ASA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	7.43B	8.44B	9.57B	10.41B	11.4B
Other Revenues, Total	-	-	7M	4M	12M
Total Revenues	7.43B	8.44B	9.57B	10.42B	11.41B
Cost of Goods Sold, Total	5.84B	6.62B	6.78B	7.54B	8.08B
Gross Profit	1.59B	1.83B	2.79B	2.88B	3.33B
Selling General & Admin Expenses, Total	-	-	26M	18M	23M
Depreciation & Amortization - (IS)	174M	66.46M	438M	466M	497M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	17M	19M	53M
Other Operating Expenses	903M	1.12B	1.64B	1.81B	1.88B
Other Operating Expenses, Total	1.08B	1.19B	2.12B	2.31B	2.46B
Operating Income	509M	643M	676M	573M	874M
Interest Expense, Total	-14.65M	-13.94M	-43M	-49M	-74M
Interest And Investment Income	2.95M	11.8M	31M	30M	32M
Net Interest Expenses	-11.7M	-2.14M	-12M	-19M	-42M
Income (Loss) On Equity Invest.	-578K	582K	-	6M	-1M
Currency Exchange Gains (Loss)	10.12M	16.47M	-12M	-4M	11M
Other Non Operating Income (Expenses)	6.04M	1.87M	4M	-3M	3M
EBT, Excl. Unusual Items	513M	660M	656M	553M	845M
Merger & Related Restructuring Charges	-	-	-	-	-15M
Impairment of Goodwill	-	-125M	-	-	-
Gain (Loss) On Sale Of Investments	-1.86M	-28K	22M	19M	21M
Asset Writedown	-	-4.75M	-4M	-5M	-2M
EBT, Incl. Unusual Items	511M	530M	674M	567M	849M
Income Tax Expense	141M	161M	158M	69M	197M
Earnings From Continuing Operations	370M	368M	516M	498M	652M
Net Income to Company	370M	368M	516M	498M	652M
Minority Interest	-728K	-302K	-	-2M	-1M
Net Income - (IS)	369M	368M	516M	496M	651M
Net Income to Common Incl Extra Items	369M	368M	516M	496M	651M
Net Income to Common Excl. Extra Items	369M	368M	516M	496M	651M
Per Share Items
Net EPS - Basic	-	1.32	1.84	1.72	2.13
Basic EPS - Continuing Operations	-	1.32	1.84	1.72	2.13
Basic Weighted Average Shares Outstanding	-	279M	281M	289M	305M
Net EPS - Diluted	-	1.32	1.82	1.65	2.13
Diluted EPS - Continuing Operations	-	1.32	1.82	1.65	2.13
Diluted Weighted Average Shares Outstanding	-	279M	283M	300M	306M
Normalized Basic EPS	-	1.47	1.46	1.19	1.73
Normalized Diluted EPS	-	1.47	1.45	1.14	1.72
Dividend Per Share	0.88	0.96	1.2	1.7	1.8
Payout Ratio	70.88	69	168.41	69.15	78.65
Supplemental Items
EBITDA	684M	709M	755M	654M	993M
EBITA	509M	651M	693M	592M	927M
EBIT	509M	643M	676M	573M	874M
EBITDAR	-	-	770M	670M	1.01B
Effective Tax Rate - (Ratio)	27.64	30.46	23.44	12.17	23.2
Total Current Taxes	135M	161M	177M	72M	200M
Total Deferred Taxes	4.04M	15.98M	-17M	28M	1M
Normalized Net Income	320M	412M	410M	344M	527M
Interest on Long-Term Debt	-	-	34M	41M	49M
Non-Cash Pension Expense	303M	327M	-	-	-
Supplemental Operating Expense Items
Marketing Expenses	-	-	26M	18M	23M
Selling and Marketing Expenses	-	-	26M	18M	23M
Research And Development Expense From Footnotes	-	-	-	-	29M
Net Rental Expense, Total	-	-	15M	16M	13M
Imputed Operating Lease Interest Expense	-	-	3.3M	3.95M	3.37M
Imputed Operating Lease Depreciation	-	-	11.7M	12.05M	9.63M
Stock-Based Comp., COGS (Total)	-	-	82K	1.31M	178M
Total Stock-Based Compensation	-	-	82K	1.31M	178M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	972M	971M	553M	1.2B	1.22B
Short Term Investments	368M	371M	394M	414M	332M
Total Cash And Short Term Investments	1.34B	1.34B	947M	1.61B	1.55B
Accounts Receivable, Total	1.72B	1.99B	2.3B	2.27B	2.53B
Other Receivables	276M	202M	43M	52M	68M
Total Receivables	2B	2.19B	2.35B	2.32B	2.6B
Prepaid Expenses	-	-	146M	114M	145M
Other Current Assets, Total	-	-	56M	68M	23M
Total Current Assets	3.34B	3.54B	3.5B	4.11B	4.32B
Gross Property Plant And Equipment	613M	681M	2.2B	2.28B	2.41B
Accumulated Depreciation	-462M	-523M	-492M	-550M	-609M
Net Property Plant And Equipment	151M	159M	1.7B	1.73B	1.8B
Long-term Investments	4.26M	2.96M	22M	32M	4M
Goodwill	669M	749M	1B	1.08B	2.69B
Other Intangibles, Total	28.37M	45.47M	78M	109M	498M
Deferred Tax Assets Long-Term	1.24M	4.33M	4M	28M	10M
Other Long-Term Assets, Total	20.38M	25.6M	39M	28M	75M
Total Assets	4.21B	4.52B	6.35B	7.12B	9.4B
Liabilities
Accounts Payable, Total	208M	234M	266M	220M	308M
Accrued Expenses, Total	1.54B	1.75B	1.97B	2.28B	2.38B
Current Portion of Long-Term Debt	-	-	-	-	240M
Current Portion of Leases	-	-	354M	367M	417M
Current Income Taxes Payable	135M	161M	186M	87M	218M
Unearned Revenue Current, Total	-	-	196M	229M	195M
Other Current Liabilities	450M	473M	9M	1M	1M
Total Current Liabilities	2.33B	2.62B	2.98B	3.19B	3.76B
Long-Term Debt	-	-	-	-	1.05B
Long-Term Leases	-	-	1.23B	1.23B	1.26B
Pension & Other Post Retirement Benefits	52.49M	56.12M	9M	7M	5M
Deferred Tax Liability Non Current	11.44M	32.8M	24M	83M	142M
Other Non Current Liabilities	84.3M	25.81M	39M	78M	66M
Total Liabilities	2.48B	2.73B	4.28B	4.58B	6.29B
Common Stock, Total	6.21M	6.21M	6M	6M	6M
Additional Paid In Capital	221M	221M	221M	221M	525M
Retained Earnings	1.5B	1.48B	1.78B	1.97B	2.13B
Treasury Stock	-282K	-630K	-1M	-	-
Comprehensive Income and Other	-	82.46M	59M	335M	453M
Total Common Equity	1.72B	1.79B	2.06B	2.53B	3.11B
Minority Interest	5.46M	8K	-	-	-
Total Equity	1.73B	1.79B	2.06B	2.53B	3.11B
Total Liabilities And Equity	4.21B	4.52B	6.35B	7.12B	9.4B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	279M	286M	301M	310M
ECS Total Common Shares Outstanding	-	279M	286M	301M	310M
Book Value / Share	-	6.4	7.23	8.4	10.04
Tangible Book Value	1.03B	995M	984M	1.34B	-75M
Tangible Book Value Per Share	-	3.56	3.45	4.46	-0.24
Total Debt	0	0	1.58B	1.6B	2.97B
Net Debt	-1.34B	-1.34B	633M	-16M	1.42B
Debt Equivalent of Unfunded Proj. Benefit Obligation	39.64M	40M	-	-	-
Debt Equivalent Oper. Leases	-	-	120M	128M	104M
Minority Interest, Total (Incl. Fin. Div)	5.46M	8K	-	-	-
Equity Method Investments, Total	4.26M	2.96M	3M	6M	4M
Account Code - Inventory Valuation	-	3	3	3	3
Land - (BS)	8.93M	5.74M	5M	6M	6M
Machinery, Total	604M	676M	645M	722M	794M
Full Time Employees	-	5.6K	6.12K	6.14K	6.83K
Part Time Employees	-	-	-	582	614
Accumulated Allowance for Doubtful Accounts (Supple)	40.8M	63.5M	64M	49M	47M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	369M	368M	516M	496M	651M
Depreciation & Amortization - CF	174M	58.49M	438M	465M	497M
Amortization of Goodwill and Intangible Assets - (CF)	-	7.97M	17M	19M	53M
Depreciation & Amortization, Total	174M	66.46M	455M	484M	550M
(Gain) Loss From Sale Of Asset	-4.34M	-6.91M	3M	1M	2M
Asset Writedown & Restructuring Costs	-	130M	4M	5M	2M
Other Operating Activities, Total	-19.63M	102M	16M	134M	177M
Change In Accounts Receivable	7.24M	-37.65M	-308M	98M	12M
Change In Inventories	-74.15M	-156M	-	-	-
Change in Other Net Operating Assets	162M	142M	236M	279M	-271M
Cash from Operations	615M	609M	922M	1.5B	1.12B
Capital Expenditure	-41.4M	-69.03M	-59M	-81M	-77M
Sale of Property, Plant, and Equipment	8.54M	12.35M	1M	1M	2M
Cash Acquisitions	-151M	-215M	-113M	-59M	-1.54B
Sale (Purchase) of Intangible assets	-29.1M	-40.32M	-23M	-33M	-43M
Investment in Marketable and Equity Securities, Total	-	-	-	-	147M
Net (Increase) Decrease in Loans Originated / Sold - Investing	2.02M	-1.41M	-	-	-
Other Investing Activities, Total	1.34M	1.84M	29M	34M	31M
Cash from Investing	-210M	-312M	-165M	-138M	-1.48B
Long-Term Debt Issued, Total	29.58M	-	-	-	1.29B
Total Debt Issued	29.58M	-	-	-	1.29B
Long-Term Debt Repaid, Total	-	-13.29M	-365M	-389M	-415M
Total Debt Repaid	-	-13.29M	-365M	-389M	-415M
Issuance of Common Stock	10.74M	60.78M	80M	54M	80M
Repurchase of Common Stock	-96.56M	-97.04M	-	-	-
Common Dividends Paid	-262M	-254M	-869M	-343M	-512M
Common & Preferred Stock Dividends Paid	-262M	-254M	-869M	-343M	-512M
Other Financing Activities, Total	-	-	-43M	-50M	-69M
Cash from Financing	-318M	-303M	-1.2B	-728M	377M
Foreign Exchange Rate Adjustments	-10.47M	5.75M	22M	14M	-1M
Net Change in Cash	76.75M	-1.22M	-418M	645M	22M
Supplemental Items
Cash Interest Paid	-	-	43M	49M	65M
Cash Income Tax Paid (Refund)	152M	136M	161M	150M	69M
Levered Free Cash Flow	434M	439M	665M	938M	1.13B
Unlevered Free Cash Flow	443M	448M	692M	968M	1.17B
Change In Net Working Capital	-20.79M	-89.04M	104M	-239M	-18M
Net Debt Issued / Repaid	29.58M	-13.29M	-365M	-389M	878M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.79	9.2	6.69	5.32	6.61
Return on Total Capital	18.62	22.83	11.34	9.21	10.7
Return On Equity %	21.65	20.94	23.88	21.66	23.1
Return on Common Equity	21.69	20.95	23.88	21.57	23.06
Margin Analysis
Gross Profit Margin %	21.36	21.65	29.17	27.67	29.17
SG&A Margin	-	-	0.27	0.17	0.2
EBITDA Margin %	9.2	8.4	7.89	6.28	8.7
EBITA Margin %	6.86	7.71	7.24	5.68	8.12
EBIT Margin %	6.86	7.61	7.06	5.5	7.66
Income From Continuing Operations Margin %	4.98	4.36	5.39	4.78	5.71
Net Income Margin %	4.97	4.36	5.39	4.76	5.7
Net Avail. For Common Margin %	4.97	4.36	5.39	4.76	5.7
Normalized Net Income Margin	4.31	4.88	4.28	3.3	4.62
Levered Free Cash Flow Margin	5.84	5.2	6.94	9	9.87
Unlevered Free Cash Flow Margin	5.96	5.3	7.22	9.3	10.27
Asset Turnover
Asset Turnover	1.82	1.93	1.52	1.55	1.38
Fixed Assets Turnover	54.13	54.55	5.65	6.07	6.46
Receivables Turnover (Average Receivables)	4.96	4.55	4.45	4.56	4.75
Short Term Liquidity
Current Ratio	1.43	1.35	1.17	1.29	1.15
Quick Ratio	1.43	1.35	1.1	1.23	1.1
Operating Cash Flow to Current Liabilities	0.26	0.23	0.31	0.47	0.3
Days Sales Outstanding (Average Receivables)	73.56	80.24	81.97	80.34	76.8
Average Days Payable Outstanding	-	12.2	13.43	11.8	11.92
Long Term Solvency
Total Debt/Equity	-	-	76.51	63.01	95.38
Total Debt / Total Capital	-	-	43.35	38.65	48.82
LT Debt/Equity	-	-	59.37	48.52	74.28
Long-Term Debt / Total Capital	-	-	33.64	29.76	38.02
Total Liabilities / Total Assets	58.92	60.44	67.46	64.41	66.87
EBIT / Interest Expense	34.76	46.13	15.72	11.69	11.81
EBITDA / Interest Expense	46.66	50.89	26.3	21.57	19.24
(EBITDA - Capex) / Interest Expense	43.83	45.94	24.93	19.92	18.2
Total Debt / EBITDA	-	-	1.4	1.51	2.09
Net Debt / EBITDA	-1.96	-1.89	0.56	-0.02	1
Total Debt / (EBITDA - Capex)	-	-	1.47	1.64	2.2
Net Debt / (EBITDA - Capex)	-2.09	-2.1	0.59	-0.02	1.05
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.13	13.7	13.65	8.82	9.53
Gross Profit, 1 Yr. Growth %	5.3	15.21	11.41	3.22	5.08
EBITDA, 1 Yr. Growth %	-5.12	3.75	7.09	-13.38	5.75
EBITA, 1 Yr. Growth %	4.96	27.77	7.28	-14.57	5.7
EBIT, 1 Yr. Growth %	4.96	26.21	7.13	-15.24	1.86
Earnings From Cont. Operations, 1 Yr. Growth %	23.88	-0.45	13.66	-3.49	30.92
Net Income, 1 Yr. Growth %	23.98	-0.34	13.66	-3.88	31.25
Normalized Net Income, 1 Yr. Growth %	7.38	28.72	7.01	-16.19	1.03
Diluted EPS Before Extra, 1 Yr. Growth %	-	-	15.19	-9.34	29.09
Accounts Receivable, 1 Yr. Growth %	35.18	15.77	15.71	-1.65	11.6
Net Property, Plant and Equip., 1 Yr. Growth %	21.88	5.41	1.01	1.41	4.4
Total Assets, 1 Yr. Growth %	6.11	7.44	1.1	12.13	32.08
Tangible Book Value, 1 Yr. Growth %	-0.41	-3.17	-20.84	36.69	-105.58
Common Equity, 1 Yr. Growth %	2.6	3.78	-8.47	22.66	22.99
Cash From Operations, 1 Yr. Growth %	-14.23	-1.03	-2.02	62.36	-24.98
Capital Expenditures, 1 Yr. Growth %	-22.03	66.76	-14.49	37.29	-4.94
Levered Free Cash Flow, 1 Yr. Growth %	-46.44	1.25	-10.3	41.09	-53.62
Unlevered Free Cash Flow, 1 Yr. Growth %	-45.48	1.12	-9.2	40.03	-52.31
Dividend Per Share, 1 Yr. Growth %	-	9.09	25	41.67	5.88
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	8.67	10.37	13.58	11.21	9.17
Gross Profit, 2 Yr. CAGR %	6.4	10.14	12.52	7.24	9.17
EBITDA, 2 Yr. CAGR %	4.88	-0.78	3.71	-3.68	14.68
EBITA, 2 Yr. CAGR %	5.1	15.8	3.73	-4.27	15.66
EBIT, 2 Yr. CAGR %	5.1	15.09	3.1	-4.71	13.71
Earnings From Cont. Operations, 2 Yr. CAGR %	5	11.05	22.83	4.73	12.41
Net Income, 2 Yr. CAGR %	5.38	11.16	22.83	4.52	12.32
Normalized Net Income, 2 Yr. CAGR %	5.89	17.57	3.87	-5.3	13.39
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	26.22	2.19	8.18
Accounts Receivable, 2 Yr. CAGR %	2.23	25.1	15.73	6.68	4.77
Net Property, Plant and Equip., 2 Yr. CAGR %	11.1	13.35	-1.72	1.21	2.89
Total Assets, 2 Yr. CAGR %	9.2	6.77	3.46	6.47	21.7
Tangible Book Value, 2 Yr. CAGR %	8.03	-1.8	-12.73	4.02	-72.39
Common Equity, 2 Yr. CAGR %	1.28	3.19	-0.43	5.96	22.8
Cash From Operations, 2 Yr. CAGR %	11.13	-7.87	0.16	26.13	10.36
Capital Expenditures, 2 Yr. CAGR %	-5.86	14.03	8.63	8.35	14.24
Levered Free Cash Flow, 2 Yr. CAGR %	18.47	-26.36	18.37	12.5	30.15
Unlevered Free Cash Flow, 2 Yr. CAGR %	19.07	-25.75	18.27	12.76	30.19
Dividend Per Share, 2 Yr. CAGR %	-	-	16.77	33.07	22.47
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.72	10.32	11.36	11.97	10.65
Gross Profit, 3 Yr. CAGR %	9.78	9.26	22.84	9.33	9.91
EBITDA, 3 Yr. CAGR %	9.6	4.5	1.57	-2.33	12.1
EBITA, 3 Yr. CAGR %	8.23	12.17	12.61	-2.77	12.79
EBIT, 3 Yr. CAGR %	8.23	11.71	11.68	-3.42	11.47
Earnings From Cont. Operations, 3 Yr. CAGR %	-20.87	3.15	19.99	13.34	12.82
Net Income, 3 Yr. CAGR %	-20.89	3.44	20.1	13.19	12.77
Normalized Net Income, 3 Yr. CAGR %	8.2	13.01	11.22	-3.3	11.22
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	13.04	10.47
Accounts Receivable, 3 Yr. CAGR %	6.83	6.56	21.89	9.62	8.3
Net Property, Plant and Equip., 3 Yr. CAGR %	12.1	9.17	139.74	-0.68	2.26
Total Assets, 3 Yr. CAGR %	10.62	8.61	16.95	6.28	14.4
Tangible Book Value, 3 Yr. CAGR %	4.28	4.16	-1.55	1.35	-60.78
Common Equity, 3 Yr. CAGR %	6.4	2.1	7.11	6.74	11.34
Cash From Operations, 3 Yr. CAGR %	9.12	6.92	8.75	17.66	6.07
Capital Expenditures, 3 Yr. CAGR %	-1.46	13.91	3.58	17.45	3.72
Levered Free Cash Flow, 3 Yr. CAGR %	32.58	12.43	-6.37	25.51	14.96
Unlevered Free Cash Flow, 3 Yr. CAGR %	32.93	12.76	-5.22	25.12	15.46
Dividend Per Share, 3 Yr. CAGR %	-	-	-	24.54	23.31
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	11.88	12.8	12.44	10.62	10.48
Gross Profit, 5 Yr. CAGR %	12.25	13.51	18.42	15.52	17.18
EBITDA, 5 Yr. CAGR %	10.06	8.42	7.77	1.02	6.62
EBITA, 5 Yr. CAGR %	9.11	11.9	11.52	5.12	13.82
EBIT, 5 Yr. CAGR %	9.11	11.63	10.97	4.44	12.49
Earnings From Cont. Operations, 5 Yr. CAGR %	9.82	7	-7.13	8.21	16.9
Net Income, 5 Yr. CAGR %	9.78	6.98	-7.11	8.32	16.93
Normalized Net Income, 5 Yr. CAGR %	9.16	11.8	10.17	3.78	12.08
Accounts Receivable, 5 Yr. CAGR %	10.83	11	10.31	6.61	14.73
Net Property, Plant and Equip., 5 Yr. CAGR %	-9.17	-8.97	73.95	69.89	70.92
Total Assets, 5 Yr. CAGR %	14.93	13.16	15.33	15.05	18.83
Tangible Book Value, 5 Yr. CAGR %	11.18	9.33	1.67	8.85	-40.8
Common Equity, 5 Yr. CAGR %	15.97	15.43	7.61	8.55	13.13
Cash From Operations, 5 Yr. CAGR %	-	-	14.27	24.63	9.39
Capital Expenditures, 5 Yr. CAGR %	-	-	6.4	11.64	7.72
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	28.99	24.86	6.81
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	29.68	25.39	7.61