Fortnox: Solid Momentum Contiunes
Research Update
2024-10-28
06:40
Redeye takes a positive stance towards Fortnox following a solid Q3 report, with strong net customer intake and solid cost control being the highlights. While trading at a premium valuation, we believe Fortnox deserves a standout valuation for several reasons, such as a market-leading position, wide moats, solid growth, and high margins. We leave our underlying forecasts roughly unchanged.
Fredrik Nilsson
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| Table Heading | |||||
|---|---|---|---|---|---|
| Net Sales | 1.33 B | 1.38 B | 837.71 M | 837.71 M | 832.82 M |
| Revenue | 5.482 | 7.246 | 8.123 | 9.654 | 9.123 |
| Net Sales Growth | 123 | 235 | 5435 | 123 | 321 |
| EBIT | 123 | 235 | 5435 | 345 | 345 |
| EBIT Margin | 123 | 235 | 5435 | 23 | 23 |
| DIVIDER | |||||
| Net Income | 123 | 235 | 5435 | 45 | 56 |
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