Photocure ASA (OSL:PHO)

Photocure ASA Financials Overview

Financials in millions NOK. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	684.69	532.58	525.39	500.66	393.13	360.54
Revenue Growth	27.36%	1.37%	4.94%	27.35%	9.04%	40.57%
Gross Profit Gross Profit Growth	643.16	490.59	494.67	474.52	370.44	336.49
Operating Income Operating Income Growth	102.38	-0.74	20.4	27.81	-49	-5.83
Net Income Net Income Growth	48.55	-1.52	-3.34	0.98	-71.86	-30.9
Earnings Per Share EPS Growth	1.81	-0.06	-0.12	0.04	-2.66	-1.15
EPS Growth	2251.28%	-	-	-	-	-

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Commercial Franchise - Hexvix Europe Commercial Franchise - Hexvix Europe Growth	317.98	309.79	285.56	263.55	221.83	225.75
Commercial Franchise - Cysview North America Commercial Franchise - Cysview North America Growth	228.56	219.94	202.32	178.63	150.78	125.23
Commercial Franchise - Other Sales Commercial Franchise - Other Sales Growth	1.72	0.33	1.87	4.04	2.02	7.72
Development Portfolio - R&D Development Portfolio - R&D Growth	136.44	2.52	35.64	54.44	18.51	1.84
Total Total Growth	684.69	532.58	525.39	500.66	393.13	360.54

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	162.4	234.65	288.83	256.34	264.65	319.04
Total Debt Total Debt Growth	9.4	10.35	26.44	27.99	48.64	72.89
Net Cash (Debt) Net Cash Growth	153	224.3	262.39	228.35	216.01	246.15
Net Cash Growth	-35.22%	-14.52%	14.91%	5.71%	-12.24%	-10.70%
Net Cash Per Share Net Cash Per Share Growth	5.73	8.41	9.68	8.42	7.99	9.17

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	88.23	31.67	76.75	48.31	-2.02	23.89
Capital Expenditures CapEx Growth	-25.8	-21.69	-11.45	-12.31	-3.61	-3.7
Free Cash Flow Free Cash Flow Growth	62.43	9.98	65.3	36	-5.63	20.18
Free Cash Flow Growth	323.19%	-84.72%	81.38%	-	-	40.17%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	93.93%	92.12%	94.15%	94.78%	94.23%	93.33%
Operating Margin	14.95%	-0.14%	3.88%	5.55%	-12.46%	-1.62%
Pretax Margin	10.24%	-3.13%	1.60%	1.95%	-18.09%	-8.78%
Profit Margin	7.09%	-0.29%	-0.64%	0.20%	-18.28%	-8.57%
FCF Margin	9.12%	1.87%	12.43%	7.19%	-1.43%	5.60%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 3, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	24.89	-	-	1866.11	-	-
Forward PE	40.31	137.31	125.20	192.90	185.71	131.96
P/FCF Ratio	19.50	190.35	25.73	50.74	-	137.18
PS Ratio	1.78	3.57	3.20	3.65	7.36	7.68

Data Source: S&P Global Market Intelligence Last updated: Oct 28, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 3, 2026

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