Zalaris ASA

Zalaris ASA

130.00
NOK
+16.50
(+14.54%)
0.60EPS
155.04P/E
2.18BMarket Cap
Oct 23Next Earn
Zalaris ASA
LSE:0QWF
(London Stock Exchange)

Recent

price

130.00

P/E

ratio

155.04

div

yld

0.69%

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
NOK
- -
67.16
77.77
17.14
19.64
20.81
29.1
37.22
39.37
40.41
36.41
41.34
52.39
62.09
69.2
67.58
Revenue per Share
- -
3.27
4.68
0.38
1.11
1.34
-0.61
-0.06
-0.36
-0.46
0.6
-1.72
-0.1
1.56
2.48
0.64
Basic EPS, GAAP
- -
8.99
6.51
1.96
1.42
0.75
2.7
0.26
0.86
3.97
0.58
-1.27
-0.22
4.8
6.37
4.74
Free Cash Flow per Basic Share
- -
- -
- -
- -
0.75
0.85
0.83
0.65
- -
- -
0.92
0.35
- -
- -
0.9
0.9
Dividend per Share
0.68
1.32
2.19
4.66
5.18
5.29
5.98
5.44
4.71
5.32
9.57
7.66
9.49
12.15
12.75
9.41
Book Value per Share
-0.63
- -
0.84
3.11
3.28
3.24
-8.84
-9.29
-9.92
-8.97
-4.53
-6.94
-5.64
-3.58
-1.87
-4.2
Tangible Book Value per Share
17
3
3
19
19
19
20
20
20
20
21
22
22
22
22
22
Basic Weighted Avg Shares
- -
226
262
326
374
397
577
745
777
792
775
893
1,134
1,346
1,503
1,474
Sales/Revenue/Turnover
- -
15.12
15.86
13.44
15.18
15.4
12.46
7.15
6.53
9.1
6.77
6.2
8.28
11.34
15.24
11.64
Operating Margin (%)
- -
22
25
29
32
36
55
63
89
85
79
82
92
113
140
150
Depreciation Expense
- -
11
16
7
21
26
-12
-1
-7
-9
13
-37
-2
34
54
14
Net Income, GAAP
- -
30.37
27.39
26.87
25.7
23.13
- -
- -
- -
- -
14.67
- -
- -
32.37
36.21
52.3
Effective Tax Rate (%)
- -
4.86
6.02
2.24
5.66
6.45
-2.11
-0.17
-0.9
-1.13
1.65
-4.16
-0.19
2.51
3.58
0.95
Profit Margin (%)
-16
-3
14
59
63
58
10
154
131
159
219
-195
239
326
327
305
Working Capital
2
2
3
2
2
1
220
356
379
387
374
43
469
506
449
485
LT Debt
14
26
40
93
103
101
120
109
92
104
209
164
203
261
274
202
Total Equity
- -
25.62
30.04
11.51
19.47
20.93
- -
- -
- -
- -
3.23
- -
- -
9.52
12.07
5.31
Return on Invested Capital (%)
- -
27.46
39.66
9.52
20
25.68
- -
- -
- -
- -
5.25
- -
- -
8.8
10.18
4.02
Return on Capital (%)
- -
65.44
53.39
11.6
22.54
25.67
-11.06
-1.11
-6.97
-9.14
8.18
-19.84
-1.14
14.4
19.91
5.82
Return on Common Equity (%)

Capital Structure

NOK

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
29
34
31
LT Borrowings
417
361
456
LT Finance Leases
32
33
29
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
22
22
22
Market Capitalization
1,891
2,134
2,179

Working Capital

NOK

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
875
832
849
Cash, Cash Equivalents & STI
196
170
149
Accounts Receivable, Net
290
287
285
Inventories
- -
- -
- -
Total Current Liabilities
547
534
544
Payables & Accruals
- -
- -
- -
ST Debt
29
34
31
Deferred Revenue
- -
- -
- -

Growth Rates

NOK

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.15%
27.23%
5.09%
Free Cash Flow
-197.05%
-538.77%
32.97%
Net Income, GAAP
-209.63%
-471.76%
59.41%
Sales/Revenue/Turnover
15.74%
14.08%
11.66%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

NOK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
319
323
340
365
1,346
2025
370
362
- -
396
1,503
2026
372
344
- -
- -
- -

Quarterly Earnings Per Share

NOK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.3
0.25
0.38
0.62
1.56
2025
1.18
0.5
- -
-0.08
2.48
2026
1.19
-0.96
- -
- -
- -

Quarterly Dividends Per Share

NOK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
0.89
- -
- -
0.9
2026
- -
- -
- -
- -
- -
Business
Zalaris ASA is a Norway-based provider of human capital management (HCM) and payroll solutions, operating primarily throughout Europe and the Asia Pacific region. Founded in 2000 and headquartered in Oslo, the company delivers a comprehensive portfolio of HR and payroll services including payroll processing, time and attendance management, travel expense management, cloud-based HR functionality such as talent management, digital personnel archives, HR analytics, and mobile solutions. Zalaris operates through two main segments: Managed Services, which offers Business Process as a Service (BPaaS) and Business Process Outsourcing (BPO) with locally based support in 13 countries; and Zalaris Consulting, which focuses on SAP HCM, Payroll, SuccessFactors implementation, and Application Management Outsourcing (AMO) services. Their technology offering includes the PeopleHub SaaS platform and integration with global HR solutions like SAP, Oracle, Fieldglass, and Concur. In the last 1-2 years, Zalaris has undergone a strategic review process to evaluate growth acceleration opportunities and value creation initiatives. The company has reaffirmed ambitious revenue targets, driven operational improvements resulting in above-target growth and profitability, and secured a new revolving credit facility to reduce financing costs. Despite receiving acquisition proposals, the board opted to continue with the existing growth strategy emphasizing scalable global delivery with local expertise, particularly focusing on serving European and Asia Pacific clients while maintaining full compliance with GDPR and other local regulations. Recent financial reports indicate revenue growth exceeding 15%, solid margin improvements, and ongoing investments in digital transformation, including advances in intelligent automation and AI integration within HR processes. Zalaris serves a diverse client base with scalable HR and payroll solutions that cover multi-country compliance and cater to industries requiring complex HR and payroll management. The company emphasizes modular HR service models and HR-as-a-Service offerings to enhance customer adaptability. Its geographic footprint includes Norway, Sweden, Denmark, Germany, Finland, Spain, France, Ireland, the United Kingdom, Latvia, Poland, Hungary, Czechia, India, Singapore, the Philippines, Australia, and beyond, delivering services in over 150 countries worldwide through a globally centralized delivery model combined with robust local support. Zalaris ASA maintains high client satisfaction with strong net promoter scores and holds certifications to ensure regulatory compliance and service quality. The company continues to invest in enhancing its technology stack, emphasizing scalable cloud-based HR management systems and consulting services to support digital transformation initiatives for its clients across multiple regions.