Fortnox AB (publ) (STO:FNOX)

Fortnox AB Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue Revenue Growth	2,140	2,044	1,642	1,276	931.9	693.72
Revenue Growth	23.06%	24.48%	28.68%	36.93%	34.33%	30.38%
Gross Profit Gross Profit Growth	1,357	1,285	1,044	788	550.6	392.2
Operating Income Operating Income Growth	937	876	676	470	315	269.01
Net Income Net Income Growth	771	710	570	347	241.1	205.38
Earnings Per Share EPS Growth	1.26	1.16	0.93	0.57	0.40	0.34
EPS Growth	26.00%	24.73%	63.42%	43.50%	16.64%	52.47%

Revenue by Segment

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Subscription-Based Subscription-Based Growth	1,472	1,419	1,185	929	689.7	504.93
Transaction-Based Transaction-Based Growth	497	466	351	271	202.6	158.42
Other Service Other Service Growth	65	55	28	23	18.9	15.53
Lending-Based Lending-Based Growth	171	159	106	75	37.3	29.45
Core Products Core Products Growth	-	771	632	522	362.7	-
Businesses Businesses Growth	-	439	358	251	135.5	-
Accounting Firms Accounting Firms Growth	-	413	318	245	273	-
Financial Services Financial Services Growth	-	286	217	157	88.3	-
Marketplaces Marketplaces Growth	-	165	146	124	86.2	-
Intra-Group Intra-Group Growth	-	26	-	-	2.9	-

Cash & Debt

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Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Investments Cash & Investments Growth	896	810	514	435	373.3	412.61
Total Debt Total Debt Growth	177	175	146	363	490.1	176.66
Net Cash (Debt) Net Cash Growth	719	635	368	72	-116.8	235.95
Net Cash Growth	204.66%	72.55%	411.11%	-	-	12.06%
Net Cash Per Share Net Cash Per Share Growth	1.18	1.04	0.60	0.12	-0.19	0.39

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Cash Flow Operating Cash Flow Growth	859	751	646	441	316.4	273.52
Capital Expenditures CapEx Growth	-40	-41	-4	-10	-12.3	-30.89
Free Cash Flow Free Cash Flow Growth	819	710	642	431	304.1	242.64
Free Cash Flow Growth	53.37%	10.59%	48.96%	41.73%	25.33%	26.00%

Margins

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Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross Margin	63.41%	62.87%	63.58%	61.76%	59.08%	56.54%
Operating Margin	43.79%	42.86%	41.17%	36.83%	33.80%	38.78%
Pretax Margin	44.95%	43.49%	41.23%	35.50%	33.14%	37.79%
Profit Margin	36.03%	34.74%	34.71%	27.19%	25.87%	29.61%
FCF Margin	38.27%	34.74%	39.10%	33.78%	32.63%	34.98%

Dividends

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Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 2, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Dividend Per Share Dividend Per Share Growth	0.250	0.250	0.200	0.120	0.080	0.075
Dividend Per Share Growth	25.00%	25.00%	66.67%	50.00%	6.67%	50.00%
Dividend Yield	0.28%	0.35%	0.33%	0.26%	0.14%	0.16%

Valuation

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Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 2, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
PE Ratio	70.95	61.94	64.48	83.10	147.95	135.42
Forward PE	56.92	64.79	64.79	64.79	64.79	64.79
P/FCF Ratio	66.58	61.94	57.25	66.90	117.30	114.63
PS Ratio	25.48	21.52	22.39	22.60	38.28	40.09

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2025

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:

Jul 28, 2025

Data Sources Report a data error