Schibsted ASA Class B
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Earnings Call Q3 2026
October 27, 2026 - AI Summary
Solid topline + strong profitability, with cost progress ahead of plan
- Q3 group revenue: NOK 1,641m (+3% YoY / +6% constant currency); verticals together +11% in constant currency.
- Q3 EBITDA: NOK 711m (+11% YoY); margin 43% (~+3pp YoY).
- YTD (9M) EBITDA margin: 40% (vs 27% in 9M 2024) — still below leading international marketplaces, but improving.
Cost outlook upgraded: expect materially lower OpEx (ex COGS) in 2026
- Company now expects 2026 OpEx (excluding COGS) to decline ~NOK 250m YoY (previously guided ~NOK 150m at Q2).
- Purpose: keep cost base falling while retaining flexibility to invest (explicitly mentioned for Recommerce).
- CFO commentary: OpEx (ex COGS) declined -6% YoY in Q3; continued efficiency gains (personnel down -2% YoY despite salary inflation; marketing up +15% YoY).
Capital returns: buyback pace strong; board seeking renewal to continue beyond current program
- NOK 4bn buyback program: first NOK 2bn tranche completed in August; second tranche reached ~NOK 1.4bn by Oct 23.
- As of end of Q3: bought back ~NOK 0.8bn (and ~NOK 1.4bn by Oct 23).
- EGM called for 23 Nov to renew buyback authority and delete 14.4m treasury shares → enables continued share buybacks beyond current program.
- Balance sheet: ended Q3 with net cash ~NOK 1bn even after buying back ~NOK 1.5bn in the quarter.
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$2.08
89.5% downside
Current Fair Value
89.5% downsideOvervalued by 89.5% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $4.04 Billion |
|---|---|
| Enterprise Value | $2.71 Billion |
| Annual dividend | $0.49 |
| Dividend yield | 2.15% |
| Earnings per Share | $-0.79 |
| Beta | 0.73 |
| Outstanding Shares | 203,964,773 |
Return
| Return on Equity | -20.29% |
|---|---|
| Return on Assets | -14.82% |
| Return on Invested Capital | -4.40% |
Valuation & Multiples
| P/E Ratio | -15.21 |
|---|---|
| PEG | 0.22 |
| Price to Sales | 0.64 |
| Price to Book Ratio | 0.25 |
| Enterprise Value to Revenue | 0.42 |
| Enterprise Value to EBIT | -3.16 |
| Enterprise Value to Net Income | -1 |
| Total Debt to Enterprise | 1.06 |
| Debt to Equity | 0.18 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 27, 2026
EPS Estimate
$0.21
Consensus analyst estimateRevenue Estimate
$172.38 M
Consensus analyst estimateNext Earnings Call
Expected Date
February 10, 2027
EPS Estimate
$0.20
Consensus analyst estimateRevenue Estimate
$174.07 M
Consensus analyst estimateInstitutional Sentiment (Put/Call)
No data available for the latest quarter.
Institutional Ownership
No data available for the latest quarter.
About Schibsted ASA
1,568 employees
CEO: Kristin Skogen Lund
Schibsted ASA engages in the provision of print and online media services. It operates through the following segments: Nordic Marketplaces, News Media, Financial Services, Growth, Other / Headquarters, Adevinta and Eliminations. The Nord...