VEND Stock Analysis: VEND MARKETPLACES ASA | OL
Internet Content & Information | OL, Norway | Market Cap: 48.941m NOK | 12M Return: -29.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 158M
Rev. Trend: -91.3%
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: under 40 is mostly noise, over 50 gets interesting, and over 70 is strong.
Vend Marketplaces ASA (ticker: VEND) is a Norwegian company that develops and operates online classified marketplaces across the Nordic region, including Norway, Sweden, Finland, and Denmark. The company runs well-known Nordic platforms such as FINN.no, blocket.se, tori.fi, oikotie.fi, bilbasen.dk, and dba.dk, organizing its business into four segments: Mobility, Real Estate, Jobs, and Recommerce. In addition to its core classifieds operations, the company runs adjacent businesses including Nettbil, Qasa, AutoVex, and HomeQ.
The business model centers on technology-driven platforms that connect buyers and sellers across categories such as job listings, real estate, vehicles, travel, and consumer goods. Online classified operators like Vend typically earn revenue through listing fees, subscription packages for professional advertisers, and value-added services, rather than taking a percentage of completed transactions. The company was formerly known as Schibsted ASA and adopted its current name in May 2025; it was founded in 1839 and is headquartered in Oslo.
- Nordic used car market cyclicality drives Mobility revenue and margins
- Real estate listings revenue tracks Nordic housing transaction volumes and rates
- Recommerce segment scales as circular economy adoption accelerates across Nordics
| Net Income: -2.68b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 2.63 > 1.0 |
| NWC/Revenue: 74.23% < 20% (prev 46.96%; Δ 27.26% < -1%) |
| CFO/TA 0.16 > 3% & CFO 3.77b > Net Income -2.68b |
| Net Debt (-5.06b) to EBITDA (2.29b): -2.21 < 3 |
| Current Ratio: 2.70 > 1.5 & < 3 |
| Outstanding Shares: last quarter (210.6m) vs 12m ago -6.91% < -2% |
| Gross Margin: 90.73% > 18% (prev 96.00%; Δ -5.27% > 0.5%) |
| Asset Turnover: 21.01% > 50% (prev 25.42%; Δ -4.41% > 0%) |
| Interest Coverage Ratio: 6.99 > 6 (EBIT TTM 1.61b / Interest Expense TTM 230.0m) |
| A: 0.20 (Total Current Assets 7.45b - Total Current Liabilities 2.76b) / Total Assets 23.9b |
| B: 0.48 (Retained Earnings 11.6b / Total Assets 23.9b) |
| C: 0.05 (EBIT TTM 1.61b / Avg Total Assets 30.1b) |
| D: 2.98 (Book Value of Equity 17.9b / Total Liabilities 6.00b) |
| Altman-Z'' = 6.35 = AAA |
| DSRI: 1.02 (Receivables 991.0m/1.41b, Revenue 6.32b/9.23b) |
| GMI: 1.06 (GM 96.00% / 90.73%) |
| AQI: 0.86 (AQ_t 0.67 / AQ_t-1 0.78) |
| SGI: 0.68 (Revenue 6.32b / 9.23b) |
| TATA: -0.27 (NI -2.68b - CFO 3.77b) / TA 23.9b) |
| Beneish M = -3.29 (Cap -4..+1) = AA |
As of July 02, 2026, the stock is trading at NOK 238.00 with a total of 484,917 shares traded. Over the past week, the price has changed by -3.17%, over one month by -3.72%, over three months by -0.61% and over the past year by -29.32%.
Current recommended Stop Loss: 222.00 (which is 6.7% or 2.2 ATR below the current price).
VEND MARKETPLACES ASA has no consensus analysts rating.
P/E Forward = 35.7143
P/S = 7.717
P/B = 2.7401
Revenue TTM = 6.32b NOK
EBIT TTM = 1.61b NOK
EBITDA TTM = 2.29b NOK
Long Term Debt = 1.92b NOK (from longTermDebt, last quarter)
Short Term Debt = 322.0m NOK (from shortLongTermDebt, last quarter)
Debt = 562.0m NOK (Leases only: 562.0m)
Net Debt = -5.06b NOK (calculated: Debt 562.0m - CCE 5.62b)
Enterprise Value = 43.9b NOK (48.9b + Debt 562.0m - CCE 5.62b)
Interest Coverage Ratio = 6.99 (Ebit TTM 1.61b / Interest Expense TTM 230.0m)
EV/FCF = 35.25x (Enterprise Value 43.9b / FCF TTM 1.25b)
FCF Yield = 2.84% (FCF TTM 1.25b / Enterprise Value 43.9b)
FCF Margin = 19.69% (FCF TTM 1.25b / Revenue TTM 6.32b)
Net Margin = -42.38% (Net Income TTM -2.68b / Revenue TTM 6.32b)
Gross Margin = 90.73% ((Revenue TTM 6.32b - Cost of Revenue TTM 586.0m) / Revenue TTM)
Gross Margin QoQ = 91.19% (prev 89.01%)
Tobins Q-Ratio = 1.84 (Enterprise Value 43.9b / Total Assets 23.9b)
Interest Expense / Debt = 40.93% (Interest Expense 230.0m / Debt 562.0m)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = 1.21b (EBIT 1.61b * (1 - 25.00%))
Current Ratio = 2.70 (Total Current Assets 7.45b / Total Current Liabilities 2.76b)
Debt / Equity = 0.03 (Debt 562.0m / totalStockholderEquity, last quarter 17.9b)
Debt / EBITDA = -2.21 (Net Debt -5.06b / EBITDA 2.29b)
Debt / FCF = -4.06 (Net Debt -5.06b / FCF TTM 1.25b)
Total Stockholder Equity = 28.2b (last 4 quarters mean from totalStockholderEquity)
RoA = -8.90% (Net Income -2.68b / Total Assets 23.9b)
RoE = -9.51% (Net Income TTM -2.68b / Total Stockholder Equity 28.2b)
RoCE = 5.34% (EBIT 1.61b / Capital Employed (Equity 28.2b + L.T.Debt 1.92b))
RoIC = 5.80% (NOPAT 1.21b / Invested Capital 20.8b)
WACC = 7.60% (E(48.9b)/V(49.5b) * Re(7.33%) + D(562.0m)/V(49.5b) * Rd(40.93%) * (1-Tc(0.25)))
Discount Rate = 7.33% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -20.0 | Cagr: -1.40%
[DCF] Terminal Value 77.97% ; FCFF base≈1.12b ; Y1≈1.29b ; Y5≈1.89b
[DCF] Fair Price = 163.1 (EV 28.5b - Net Debt -5.06b = Equity 33.6b / Shares 205.8m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -91.35 | Revenue CAGR: -20.66% | SUE: N/A | # QB: 0
EPS current Quarter (2026-09-30): EPS=2.04 | Chg30d=-4.12% | Revisions=-33% | Analysts=1
EPS current Year (2026-12-31): EPS=7.41 | Chg30d=-0.40% | Revisions=+0% | GrowthEPS=+661.0% | GrowthRev=+5.1%
EPS next Year (2027-12-31): EPS=10.46 | Chg30d=+2.54% | Revisions=+38% | GrowthEPS=+41.3% | GrowthRev=+11.8%
[Analyst] Revisions Ratio: +38%