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.
Zalaris ASA is a Norway-based provider of comprehensive HR and payroll solutions, specializing in outsourced personnel services and technology platforms. Founded in 2000 and headquartered in Oslo, the company operates through two primary segments: Managed Services and Zalaris Consulting. The Managed Services segment delivers full-service outsourcing, including payroll processing, time and attendance management, travel expenses, and cloud-based HR functionalities such as talent management, HR analytics, and mobile solutions via its PeopleHub SaaS platform, supported by BPaaS and BPO models. Zalaris Consulting focuses on SAP HCM implementations, SuccessFactors suite support, cloud migrations, and ongoing maintenance. With over 25 years of experience, Zalaris serves clients across diverse industries like banking, manufacturing, retail, energy, pharmaceuticals, and aviation, including major names such as Nordea Bank, Ryanair, Roche, and Unilever. Its global footprint spans Europe, Asia Pacific, and beyond, supporting operations in over 150 countries with localized compliance, languages, and processes through a unique international delivery model combining centralized efficiency and local expertise. Employing around 1,150 people, Zalaris simplifies HR administration, ensures regulatory adherence, and empowers organizations to focus on strategic workforce development, fostering operational efficiency and employee engagement worldwide.
€8.68
+€0.02 (+0.23%)
EOD Jul 1, 2026
15.24% operating margin is respectable but not wide. ROIC at 18.84%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue up 11.7% YoY with margins expanding 3.9pp.
At 43x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
42.6x earnings, 16.7x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
NOK 1.51B
▲ +11.7% YoY
Net Income (TTM)
NOK 54M
▲ +59.6% YoY
Op. Margin
14.82%
▲ +3.9pp YoY
ROIC
18.84%
▲ +5.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
NOK 138M
▲ +33.0% YoY
Op. Cash Flow (TTM)
NOK 153M
▲ +29.5% YoY
Net Debt
NOK 281M
Cash & Equiv.
NOK 196M
3Y CAGR: +19.0%
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At a P/E of 42.6 and a price-to-free-cash-flow of 16.7, Zalaris ASA (ZAL.XOSL) trades below a two-stage DCF intrinsic value of about NOK 284.56 per share, so at NOK 8.68 the stock looks undervalued (3,178.4% 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, Zalaris ASA scores 71/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 0.8%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about NOK 284.56 per share for ZAL.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 213.42. At today's NOK 8.68, that puts the stock about 3,178.4% 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.
Zalaris ASA scores 71 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 14.8% operating margin and a 18.8% 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.
Yes, Zalaris ASA pays a regular dividend of about NOK 0.83 per share per year (typically in quarterly installments), a yield of roughly 0.8% at the current price. That is a payout ratio of about 36.4% of earnings, so the dividend is amply covered by earnings. 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 ZAL.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. ZAL.XOSL currently trades below its estimated intrinsic value and scores 71/100 on quality (solid). It also yields about 0.8%. 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.