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.
Atea ASA is a leading provider of IT infrastructure and system integration services across the Nordic and Baltic regions. Founded in 1968 and headquartered in Oslo, Norway, the company delivers a comprehensive portfolio including third-party hardware and software sales, mobile device management, security solutions, and maintenance of IT infrastructure for businesses and public sector organizations. Atea ASA operates through six business segments: Norway, Sweden (its largest revenue generator), Denmark, Finland, the Baltics, and Shared Services, with nearly 8,000 employees across 88 offices in seven countries including Lithuania, Latvia, and Estonia. Key offerings encompass data center and networking solutions, cloud services, IT security lifecycle management, digital workplace solutions, business intelligence, Internet of Things, artificial intelligence, and machine learning services. As a top channel partner for global technology leaders like Microsoft, Cisco, HP, IBM, and Dell Technologies, Atea ASA supports digital transformation, enhances productivity, and drives sustainable IT strategies throughout the technology lifecycle. Listed on the Oslo Stock Exchange, it plays a pivotal role in the software and IT services sector, classified under Technology.
NOK 174.10
+NOK 0.40 (+0.23%)
EOD Jul 1, 2026
Operating margin is thin at 3.71%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 8.1%, steady but not accelerating. Free cash flow declined 52% despite revenue growth, conversion is weakening.
Free cash flow declined 52% versus the prior year, cash generation momentum has weakened.
17.8x earnings, 16.3x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
NOK 38.48B
▲ +8.1% YoY
Net Income (TTM)
NOK 1.10B
▲ +14.5% YoY
Op. Margin
3.71%
▲ +0.2pp YoY
ROIC
15.96%
▲ +1.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
NOK 1.20B
▼ -51.8% YoY
Op. Cash Flow (TTM)
-NOK 162M
▼ -48.0% YoY
Net Debt
NOK 594M
Cash & Equiv.
NOK 1.59B
3Y CAGR: +4.9%
3Y CAGR: +6.8%
Continue Research
At a P/E of 17.8 and a price-to-free-cash-flow of 16.3, Atea ASA (ATEA.XOSL) trades below a two-stage DCF intrinsic value of about NOK 282.04 per share, so at NOK 174.10 the stock looks undervalued (62.0% 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, Atea ASA scores 79/100 on Intrinsiqq's quality scorecard (a solid 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 282.04 per share for ATEA.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 211.53. At today's NOK 174.10, that puts the stock about 62.0% 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.
Atea ASA scores 79 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a solid business on these measures. Recent fundamentals include a 3.7% operating margin and a 16.0% 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. ATEA.XOSL currently trades below its estimated intrinsic value and scores 79/100 on quality (solid). 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.