olivLaw · European equity research
Síminn hf. ASAR.IC
Iceland · Nasdaq Iceland · ISIN IS0000026193 · Vertical: Listed companies from Iceland
At the close of 04 Nov 2026, Síminn hf. (ASAR.IC) stock was 11.50 ISK (+5.50% on the day), with P/E 17.7 on diluted EPS of 0.65 ISK over the last 12 months, beta 0.19, 52-week range 10.20–15.90 ISK.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 57.5
- strong (55–70)
- Bollinger (20, 2)
- 10.90 – 11.44
- above the upper band · %B 1.10 · band width 4.9%
- SMA 50 / 200
- 11.39 / 12.75
- mixed trend
- MACD (12, 26, 9)
- -0.06 / -0.09
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +3.6% | +0.4% | +3.2 pp | — |
| 3 months | −10.5% | −3.3% | −7.2 pp | — |
| 6 months | −5.7% | +4.0% | −9.7 pp | — |
| Year to date | −21.2% | +8.1% | −29.3 pp | — |
| 1 year | −16.1% | +10.7% | −26.8 pp | −6.4% |
| 3 years | +36.9% | +50.1% | −13.2 pp | +7.2% |
| 5 years | −5.7% | +43.6% | −49.3 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 2-quarter history (min 22.5, median 23.7, max 25.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 25.1 bn | 27.2 bn | 28.0 bn |
| Revenue YoY | unavailable | +8.5% | +3.0% |
| Net income | unavailable | unavailable | unavailable |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | 0.54 | 0.65 |
| Diluted EPS YoY | unavailable | unavailable | +20.4% |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | 4.0 bn | 4.7 bn | 3.8 bn |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 980.0 m ISK
- Financial debt
- 14.5 bn ISK
- Net debt
- 13.5 bn ISK
- Equity
- 17.1 bn ISK
- Total assets
- 44.3 bn ISK
- Debt / equity
- 0.85x
- Current ratio
- 0.99x
- ROE
- unavailable
- ROA
- unavailable
- FCF margin
- 13.6%
Financial statements (source on every figure)
Revenue and net income (ISK)
Margins
Income statement · ISK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 25.1 bn | 27.2 bn | 28.0 bn | esef· 10 Mar 2026verified |
| Cost of revenue | 16.5 bn | 17.3 bn | 17.3 bn | esef· 10 Mar 2026verified |
| Gross profit | 8.6 bn | 9.9 bn | 10.7 bn | esef· 10 Mar 2026verified |
| Operating income | 2.1 bn | 2.9 bn | 3.1 bn | esef· 10 Mar 2026verified |
| Interest expense | 1.1 bn | 1.8 bn | 2.0 bn | esef· 10 Mar 2026verified |
| Pre-tax income | 1.7 bn | 1.8 bn | 2.1 bn | esef· 10 Mar 2026verified |
| Income tax | 341.0 m | 381.0 m | 485.0 m | esef· 10 Mar 2026verified |
| Diluted EPS | — | 0.54 | 0.65 | esef· 10 Mar 2026verified |
Balance sheet · ISK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 1.8 bn | 835.0 m | 980.0 m | esef· 10 Mar 2026verified |
| Inventories | 1.3 bn | 1.3 bn | 1.6 bn | esef· 10 Mar 2026verified |
| Current assets | 9.0 bn | 8.9 bn | 11.0 bn | esef· 10 Mar 2026verified |
| Property, plant & equipment, net | 2.6 bn | 3.5 bn | 3.6 bn | esef· 10 Mar 2026verified |
| Total assets | 33.8 bn | 41.2 bn | 44.3 bn | esef· 10 Mar 2026verified |
| Short-term debt | 2.3 bn | 2.1 bn | 1.4 bn | esef· 10 Mar 2026verified |
| Long-term debt | 7.5 bn | 12.7 bn | 13.1 bn | esef· 10 Mar 2026verified |
| Current liabilities | 8.0 bn | 8.1 bn | 11.2 bn | esef· 10 Mar 2026verified |
| Total liabilities | 16.2 bn | 23.1 bn | 27.2 bn | esef· 10 Mar 2026verified |
| Equity | 17.6 bn | 18.1 bn | 17.1 bn | esef· 10 Mar 2026verified |
Cash flow · ISK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 4.9 bn | 5.8 bn | 5.0 bn | esef· 10 Mar 2026verified |
| Capex | 886.0 m | 1.1 bn | 1.2 bn | esef· 10 Mar 2026verified |
| Free cash flow | 4.0 bn ≈ | 4.7 bn ≈ | 3.8 bn ≈ | esef· 10 Mar 2026derived |
| Investing cash flow | 10.7 bn | -9.6 bn | -4.2 bn | esef· 10 Mar 2026verified |
| Financing cash flow | -17.5 bn | 2.9 bn | -668.0 m | esef· 10 Mar 2026verified |
| Dividends paid | 499.0 m | 499.0 m | 498.0 m | esef· 10 Mar 2026verified |
| Share repurchases | 3.0 bn | 1.4 bn | 2.4 bn | esef· 10 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 35.4% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
35% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 7.7% | 43 (vs peers) | 29% |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1.5x | 1 (on a fixed band) | 18% |
| Current ratio · Balance sheet | 1.0x | 16 (on a fixed band) | 12% |
| P/E (TTM) · Valuation | 17.7x | 40 (vs peers) | 29% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 13.1% | 100 (on a fixed band) | 12% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet7/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial43/100 · 1/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partial40/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Síminn hf. (ASAR.IC). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 28.0 bn ISK in 2025; YoY growth 3.0%.
The estimated value range is 9.81–13.13 ISK per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 11.42 ISK, the price of 11.50 ISK leaves a potential of -0.7% (value / price − 1) and a margin of safety of -0.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Payout ratio (FCF): 13.1%
What contradicts it
- Interest coverage: 1.5x
- Current ratio: 1.0x
Not assessed (insufficient data or a ratio without meaning): Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Listed companies from Iceland · same country · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| HAGA.ICHagar hf. | 131.4 bn | 20.2 | 18.2% | 3.8% | +9.3% | +6% / +80% |
| FESTI.ICFesti hf. | 90.6 bn | 22.7 | 10.1% | 2.6% | +13.4% | −8% / +66% |
| HEIMAR.ICHeimar hf. | 62.0 bn | 7.5 | 13.5% | 55.5% | +7.7% | −5% / +51% |
| BERA.ICÖlgerðin Egill Skallagríms hf. | 37.6 bn | 17.6 | 13.7% | 5.9% | +7.7% | −22% / +2% |
| NOVA.ICNova Klúbburinn hf | 12.2 bn | 15.1 | 8.5% | 6.1% | +2.8% | −24% / −15% |
| ALVO.ICAlvotech | — | — | — | 9.0% | +43.4% | −14% / −59% |
| ASAR.ICSíminn hf. | — | 17.7 | — | — | +3.0% | −18% / +29% |
| BRIM.ICBrim hf. | — | — | 11.9% | 14.6% | +5.2% | +18% / +12% |
| EIK.ICEik Fasteignafélag Hf. | — | — | 10.2% | 43.6% | +9.5% | +1% / +23% |
| EIM.ICEimskipafélag Íslands hf. | — | — | 3.2% | 1.2% | −4.7% | +8% / −34% |
| HAMP.ICHampiðjan hf | — | — | 1.7% | 1.2% | +15.7% | −26% / −37% |
1- and 3-year price returns: for ASAR.IC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202510 Mar 2026
- Annual report 202425 Feb 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.