profit from every SEK 100 of sales.
SEK 0SEK 100
NOTE
SEK 165.40+1.53% today
-6.7% in 1 year
1-year low SEK 141.601-year high SEK 203.60
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay SEK 16.76 for every SEK 1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What NOTE sold, what it kept, and what it did with the cash.
Sales went from SEK 3.69 billion in 2022 to SEK 3.81 billion in 2025, with SEK 282 million of profit last year.
SalesProfit
NOTE handed back 55% of the cash it generated last year.
SEK 199M
Free cash flow 2025SEK 362M
Bought back its own sharesSEK 0
Paid as dividendsSEK 199M
Cash vs. debtSEK 293M vs. SEK 824M
NOTE vs. similar companies
NOTE grows the slowest of these 5 and is the cheapest for its profits.
| Company | Profit from SEK 100 of sales | Sales growth a year | Price per SEK 1 of profit |
|---|---|---|---|
| NOTE | 16.8× · Fair price | ||
 Amphenol | 45.9× · Expensive | ||
 Corning | 65.0× · Very expensive | ||
 Hon Hai Precision Industry | 18.0× · Fair price | ||
 Delta Electronics | 56.0× · Expensive |
AI analysis
An AI analyst reads NOTE's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of SEK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 3,687 | 4,243 | 3,901 | 3,814 | |
| 473 | 514 | 519 | 529 | |
| 359 | 379 | 355 | 383 | |
| 410 | 539 | 471 | 505 | |
| 254 | 320 | 248 | 282 | |
| 8.78 | 11.04 | 8.61 | 9.89 | |
| 12.8% | 12.1% | 13.3% | 13.9% | |
| 9.7% | 8.9% | 9.1% | 10.0% | |
| 6.9% | 7.5% | 6.4% | 7.4% |
Balance sheet
| In millions of SEK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 2,765 | 3,220 | 3,208 | 3,436 |
| Cash | 88 | 170 | 411 | 293 |
| Total debt | 553 | 753 | 630 | 824 |
| Total liabilities | 1,667 | 1,824 | 1,569 | 1,787 |
| 1,098 | 1,396 | 1,638 | 1,648 | |
| 29 | 29 | 29 | 28 | |
| 15.7% | 15.8% | 12.2% | 12.2% | |
| 23.1% | 22.9% | 15.1% | 17.1% |
Cash flow
| In millions of SEK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 50 | 342 | 602 | 509 | |
| 47 | 95 | 106 | 147 | |
| 3 | 247 | 495 | 362 | |
| Dividends paid | – | – | – | 199 |
| – | 0 | 66 | 0 | |
| – | – | – | – |
Valuation
- 16.8×
- –
- 4.14
- 2.9×
- 1.2×
- 13.0×
- 10.4×
- 7.7%
- 6.0%
- 4.2%
Profitability
- 13.9%
- 10.0%
- 7.4%
- –
- 12.2%
- 14.0%
- –
- –
- –
- –
Growth
- +1.1%
- +4.0%
- –
- –
- −0.6%
Financial health
- 1.1×
- 0.50
- –
- 13.1×
- 1.43
- –
- –
How it ranks in Technology
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 25%of 974
Top 44%of 975
Top 17%of 731
Bottom 27%of 982
Top 13%of 985
4.2%of the share price, paid each year
On $1,000 invested$42a year at today's yield, before tax
–per share
Raised–not every year
How safe it looks
70.8% of its profit
Room to growStretchedMore than it earns: 55.0%
News
Review & Preview: Ending on a Down NoteYahoo Finance · Oct 30, 2026TOP Ships announces 1-for-10 reverse stock split, $5M convertible-note offeringSeeking Alpha · Oct 28, 2026Dow Jones Futures Rise; Nasdaq At Highs With Nvidia, SpaceX Buys, But Note These RisksYahoo Finance · Oct 5, 2026Dow Jones Futures Loom; Nasdaq At Highs With Nvidia, SpaceX Buys, But Note These RisksYahoo Finance · Oct 4, 2026Dow Jones Futures: Nasdaq Hits High As Nvidia, SpaceX, Bloom Energy Flash Buy Signals, But Note These RisksYahoo Finance · Oct 3, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
1/7Passes 1 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
60Pass
Benjamin Graham
55No pass
Philip Fisher
47No pass
Peter Lynch
18No pass
Joel Greenblatt
40No pass
Charlie Munger
46No pass
Terry Smith
43No pass
Questions about NOTE
Is NOTE a good stock to buy?
A business with weak numbers at a fair price. 1 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the NOTE AI analysis
What does NOTE do?
NOTE AB (publ), together with its subsidiaries, provides electronics manufacturing services in Sweden, Finland, the United Kingdom, Bulgaria, Estonia, China, and internationally. It is in Electronic Components, based in Stockholm, Sweden, with 1,800 employees.
Does NOTE pay a dividend?
Yes. At today's price the dividend is 4.2% a year, about 71% of its yearly profit. In 2025 it paid out SEK 199 million in dividends.
Is NOTE stock halal?
Yes. NOTE passes our halal screen: its business is permitted and its debt is 17% of its market value, under the 30% limit. How we check
How has NOTE stock done over the past year?
Down 6.7% over the past twelve months, to SEK 165.40. It traded between SEK 141.60 and SEK 203.60 and is 18.8% below its high.
Who are NOTE's competitors?
The largest listed companies in the same industry are Amphenol, Corning, Hon Hai Precision Industry and Delta Electronics. The peers table on this page compares their profit, growth and price with NOTE's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.