1. Norway Stocks

  2. •

    Industrials

  3. •

    Industrial - Infrastructure Operations
Q-Free ASA

Q-Free ASA

QFREF
Q-Free ASAUS flagOther OTC
1.26
USD
- -
- -
140.17MMarket Cap
Q-Free ASA
QFREF
(Other OTC)

Recent

price

1.26

P/E

ratio

- -

div

yld

- -

ROIC.AI

2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
TTM
FRC
7.79
9.43
14.37
9.26
11.42
8.77
8.9
11.44
10.94
11.59
10.91
9.96
10.79
9.97
7.73
8.53
10.36
Revenue per Share
0.1
0.67
1.41
-0.94
0.58
-0.52
-1.65
-0.42
-2.79
-1.11
-0.23
-0.09
-0.56
-0.46
0.53
0.02
-0.02
Basic EPS, GAAP
-1.17
-0.06
0.8
-3.2
2.54
-1.1
-1.05
-0.08
-1.18
-1.39
-0.91
1.29
0.03
0.48
0.47
0.19
0.76
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
2.37
0.38
0.41
0.38
0.41
0.38
0.38
0.38
0.38
0.45
-2.07
-2.21
-2.71
-3.33
-2.01
-1.6
-1.15
Book Value per Share
4.67
4.14
9.26
5.19
7.37
6.11
4.42
1.26
-2.37
-0.9
-0.45
-0.67
-0.47
-0.21
0.66
0.69
0.74
Tangible Book Value per Share
52
54
56
60
61
68
68
69
70
75
89
89
89
89
111
111
110
Basic Weighted Avg Shares
407
509
798
558
698
593
605
785
764
873
973
889
962
889
860
949
1,144
Sales/Revenue/Turnover
5.13
9.97
12.87
-16.2
8.44
-9.33
-14.73
1.08
-12.41
-6.77
5.54
2.7
0.41
1.32
5.56
3.42
3.59
Operating Margin (%)
23
21
32
61
49
49
63
76
140
55
78
47
127
85
58
53
58
Depreciation Expense
5
36
78
-57
36
-35
-112
-29
-195
-84
-21
-8
-50
-41
59
3
-2
Net Income, GAAP
65.54
28.73
28.76
- -
34.1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
77.47
113.21
Effective Tax Rate (%)
1.23
7.13
9.79
-10.19
5.11
-5.95
-18.53
-3.67
-25.5
-9.57
-2.13
-0.91
-5.19
-4.61
6.82
0.29
-0.15
Profit Margin (%)
194
169
345
246
498
434
205
197
-44
161
134
139
60
169
184
128
112
Working Capital
3
2
1
1
100
100
- -
100
- -
150
125
196
195
269
256
217
169
LT Debt
284
352
549
486
624
631
505
529
416
427
414
402
358
313
448
493
545
Total Equity
2.37
11.14
16.03
- -
6.38
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.96
-0.71
Return on Invested Capital (%)
7.33
66.34
217.95
- -
41.82
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
5.96
-4.37
Return on Capital (%)
4.05
50.3
360.7
-248.71
148.28
-138.26
-433.95
-110.67
-737.91
-276.32
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'23
Jun'23
Sep'23
ST Debt
21
34
37
LT Borrowings
182
178
169
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
111
111
111
Market Capitalization
1,581
1,644
- -

Working Capital

FRC

•

in mil. unless spec.
Mar'23
Jun'23
Sep'23
Total Current Assets
471
489
469
Cash, Cash Equivalents & STI
51
44
61
Accounts Receivable, Net
180
194
207
Inventories
105
109
106
Total Current Liabilities
335
349
356
Payables & Accruals
- -
- -
- -
ST Debt
21
34
37
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.02%
5.33%
10.11%
Free Cash Flow
266.53%
286.25%
-58.77%
Net Income, GAAP
68.96%
20.27%
-95.26%
Sales/Revenue/Turnover
5.4%
-0.19%
10.34%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2021
191
253
204
212
860
2022
216
214
215
305
949
2023
244
290
305
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2021
-0.04
0.13
0.13
- -
0.53
2022
-0.05
0.18
-0.01
- -
0.02
2023
0.01
0.07
0.01
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2021
- -
- -
- -
- -
- -
2022
- -
- -
- -
- -
- -
2023
- -
- -
- -
- -
- -
Similar Companies
AJR Infra & Tolling Ltd. (AJRINFRA.NS)
Bharat Road Network Limited (BRNL.NS)
Shenzhen Investment Holdings Bay Area Development Company Limited (SIHBY)
Shoucheng Holdings Limited (SCGEY)
PARK24 Co., Ltd. (PKCOF)
Jiangsu Expressway Company Limited (600377.SS)
Business
Q-Free ASA, headquartered in Trondheim, Norway and founded in 1984, develops and supplies intelligent transportation systems (ITS) solutions focused on tolling, traffic management, parking, image review systems, and connected ITS (C-ITS)/connected vehicle technologies; its core offerings include electronic toll collection systems such as multi-lane free flow (MLFF), congestion charging, truck tolling, and AutoPASS-compatible products; dedicated short-range communication (DSRC) on-board units and transceivers; automatic license plate recognition (ALPR) and optical character recognition (OCR) imaging solutions; GNSS-based positioning products; operational back-office software; traffic controllers and management platforms like Kinetic Mobility and Dynamic Signals with cybersecurity features; parking guidance and access control systems; and service/maintenance including 24/7 remote monitoring from a network operations center. The company operates globally with approximately 370 employees across 15 countries on all continents, serving transportation authorities, road operators, and municipalities in Europe, Asia, Australia, and the Americas to optimize traffic flow, enhance road safety, reduce congestion, and promote sustainable mobility. In recent developments, Q-Free secured a major multi-year contract in 2025 from the Norwegian Public Roads Administration (NPRA) to deploy its Intrada Insight AI-powered vehicle image recognition solution for the nationwide AutoPASS tolling network, processing over 760 million images and 400 million transactions annually with up to 99.29% automation rates in harsh Nordic conditions; the company also introduced Dynamic Signals traffic signal software emphasizing encrypted communications and secure access, alongside ongoing emphasis on recurring revenue models and partnerships with cloud providers like Amazon, Google, and Microsoft; following its delisting from the Oslo Stock Exchange in December 2023 after acquisition by Juniper Holdco AS, Q-Free continues as a privately held entity driving ITS innovation.