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Appear ASA (APR) Fair Value & Analysis

Technology · NO · Market cap 3.2B NOK

AA Appear ASA APR · OL
Pricekr 73.20
Fair Valuekr 66.15
Upside-9.6%
Quality91/100
Evidence: High Range kr 41.99 – kr 83.93

Fair value as of: Jun 24, 2026

From 24 valuation models · updated 5 days ago

Share price −7.9% over the past month.

Price vs Fair Value (8 months)

kr 89.18 kr 59.74 Fair Value kr 66.15 Nov 2025 Jun 2026

8‑month range kr 59.74 – kr 89.18 · fair‑value band kr 41.99 – kr 83.93 · the kr 73.20 price screens above the kr 66.15 fair value. As of Jun 24, 2026.

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Analysis

Appear ASA (APR) currently trades at kr 73.20, while our model-based Fair Value estimate is kr 66.15 — implying the stock looks roughly 9.6% overvalued today. We read business quality at 91/100 (high quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, Appear ASA generated revenue of 870M NOK at a net margin of 15.4%. Revenue grew 42.6% year over year. It earns a return on equity of 30.3%. The stock trades on a trailing P/E of 23.8. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) 870M NOK
Revenue growth (YoY) +42.6%
Net margin 15.4%
Return on equity 30.3%
Free cash flow 73.2M NOK FY2025
P/E ratio 23.8
More key figures
Operating margin 15.7%
EPS (TTM) kr 3.30
EPS growth (YoY) +17.0%

Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.

About the company

Appear ASA develops and provides solutions for processing, transport, and delivery of live video for the broadcast, media, and sports industries in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company offers various software and platforms, such as VX platform, an open media technology software platform built for broadcast workflows; XC platform, a modular head-end solution for IPTV and broadcast distribution that supports distribution across cable, satellite, terrestrial networks, and hospitality applications; and X platform, which offers media processing and gateway hardware platform. It also provides customer support and technology development services. The company serves sports leagues and federations, broadcasters and streaming platforms, production service providers, and connectivity providers. Appear ASA was incorporated in 2004 and is based in Oslo, Norway.

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

Appear ASA reported revenue of kr 801M in FY2025 versus kr 316M in FY2022, a compound +36.3%/yr. Reported net income was kr 129M in FY2025.

Revenue +36.3%/yr
FY22 kr 316M
FY23 kr 408M
FY24 kr 606M
FY25 kr 801M
Net income
FY22 −kr 13.4M
FY23 kr 32.4M
FY24 kr 69.5M
FY25 kr 129M

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Frequently asked questions

Is Appear ASA (APR) undervalued?
As of Jun 24, 2026, our model estimates a fair value of kr 66.15 versus a price of kr 73.20 — about −10% (overvalued). Model-based estimate, not financial advice.
What is the fair value of APR?
Our 21-model fair value for Appear ASA is kr 66.15 (as of Jun 24, 2026), built from audited fundamentals. The current price is kr 73.20.
What is the quality score of APR?
Appear ASA has a Quality Score of 91/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Appear ASA (APR)?
Appear ASA reported trailing-twelve-month revenue of about 870M NOK (latest available figure, as of Jun 24, 2026).
What is the net profit margin of APR?
The net profit margin of Appear ASA is about 15.4%, meaning it keeps roughly 15.4% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.