Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Appear ASA is a Norwegian technology company specializing in high-capacity, sustainable solutions for media processing and content delivery in live production environments. Headquartered in Oslo and founded in 2004 by former Tandberg Television employees, it develops modular platforms like the flagship X Platform, launched in 2017, to reduce operational complexity and support demanding live broadcasts. The company serves global broadcasters, telcos, and content creators such as NBCUniversal, Warner Bros. Discovery, NHL, Formula 1, and Riot Games, enabling live event contribution, remote production, and distribution with features like low latency, power efficiency, and ultimate capacity. Appear ASA has grown rapidly, becoming the industry's fastest-growing firm by 2021, and continues to innovate in media and entertainment technology, powering immersive viewing experiences for sports, news, and large-scale events across over 100 countries.
NOK 6.34
NOK 0.06 (-0.94%)
EOD Jul 1, 2026
Margins and capital returns are both well above average: 21.32% operating margin, ROIC at 26.77%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue up 32.3% YoY with margins expanding 8.8pp.
Even for strong businesses, today's 2x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
1.8x earnings, 6.2x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
NOK 870M
▲ +32.3% YoY
Net Income (TTM)
NOK 134M
▲ +85.8% YoY
Op. Margin
19.81%
▲ +8.8pp YoY
ROIC
26.77%
▲ +4.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
NOK 40M
▲ +9.7% YoY
Op. Cash Flow (TTM)
NOK 116M
▲ +99.2% YoY
Net Debt
-NOK 423M
Net Cash Position
Cash & Equiv.
NOK 485M
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At a P/E of 1.8 and a price-to-free-cash-flow of 6.2, Appear ASA (APR.XOSL) trades below a two-stage DCF intrinsic value of about NOK 28.46 per share, so at NOK 6.34 the stock looks undervalued (348.9% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Appear ASA scores 85/100 on Intrinsiqq's quality scorecard (a high-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about NOK 28.46 per share for APR.XOSL, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around NOK 21.34. At today's NOK 6.34, that puts the stock about 348.9% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Appear ASA scores 85 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a high-quality business on these measures. Recent fundamentals include a 19.8% operating margin and a 26.8% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
That depends on valuation and quality together, not either alone. APR.XOSL currently trades below its estimated intrinsic value and scores 85/100 on quality (high-quality). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.