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.
Elmera Group ASA is a Norwegian energy company specializing in the purchase, sale, and portfolio management of electrical power. It serves households, private and public companies, and municipalities across Norway, Sweden, and Finland through its core segments: Consumer, Business, Nordic, and New Growth Initiatives. The company offers electricity contracts, related services, EV chargers, photovoltaic panels, mobile phone services, billing and payment solutions, and products supporting the low-emission society. Notable brands include Fjordkraft, TrøndelagKraft, Gudbrandsdal Energi, and Nordic Green Energy, with Fjordkraft leading in the Norwegian business market. Founded in 2001 as a merger of BKK and Skagerak power trading operations, it rebranded from Fjordkraft Holding ASA in April 2022 and is headquartered in Bergen. Elmera Group ASA plays a key role in the Nordic utilities sector by promoting competition, innovation in energy services, and sustainability initiatives like Klimanjaro, which commits suppliers to climate neutrality.
NOK 4.13
+NOK 0.04 (+0.86%)
EOD Jul 1, 2026
Operating margin is thin at 3.17%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 0.9% YoY. The question is whether this is cyclical or a structural shift.
ROIC dropped from 14.98% to 7.41%, capital efficiency is deteriorating. Negative free cash flow of -NOK 757M. The business is consuming cash, not generating it.
2.4x earnings. 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 14.79B
▼ -0.9% YoY
Net Income (TTM)
NOK 195M
▼ -54.2% YoY
Op. Margin
2.97%
▼ -0.7pp YoY
ROIC
7.41%
▼ -7.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-NOK 619M
▼ -965.7% YoY
Op. Cash Flow (TTM)
NOK 97M
▼ -81.6% YoY
Net Debt
NOK 1.97B
Cash & Equiv.
NOK 1.37B
3Y CAGR: -22.0%
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At a P/E of 2.4, A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in .
On quality, Elmera Group ASA scores 30/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 70.8%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Elmera Group ASA scores 30 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 3.0% operating margin and a 7.4% 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.
Yes, Elmera Group ASA pays a regular dividend of about NOK 2.92 per share per year (typically in quarterly installments), a yield of roughly 70.8% at the current price. That is a payout ratio of about 167.9% of earnings, so the dividend is stretched at this level. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For ELMRA.XOSL's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. you should weigh ELMRA.XOSL's valuation and scores 30/100 on quality (lower-quality). It also yields about 70.8%. 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.