OPRANasdaqServices-Prepackaged SoftwareFiscal year ends December 31
Opera Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Mar 27, 2026
$17.63−0.26 (-1.45%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 14.8
- Dividend yield
- 4.54%
Margins
Share of revenue, fiscal years 2016 to 2025
Gross margin
–
Operating margin
14.7%+16.1 pts over 5 years
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +27.9% | +22.9% | +30.1% | – | |
| Operating income | -2.4% | +29.2% | – | – | |
| EPS, diluted | +32.2% | +104.1% | -4.7% | – | |
| Free cash flow | +37.4% | +28.0% | +4.3% | – | |
| Dividend per share | 0.0% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 18.3% | – | |
| Return on assets | – | 16.5% | – | |
| Current ratio | – | 4.05 | 2.35 | |
| Debt to equity | – | 0.01 | – | |
| Net debt to EBITDA | – | -6.98× | – | |
| Interest coverage | – | -4.7× | 147.7× | |
| Capex to revenue | – | 1.5% | 0.9% | |
| Diluted shares | – | 237M | 91M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Opera generated $388.69M from operations and spent $346.23M on capital expenditure, dividends and share buybacks. 10% of that went back into the business.
Generated
$388.69M
Used
$346.23M
Capital expenditure$35.01M10%Dividends$131.71M38%Share buybacks$179.51M52%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin38.6%
×Asset turnover0.40×
×Equity multiplier1.09×
=Return on equity, FY202317.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2023 | 38.6% | 0.40× | 1.09× | 17.0% |
| FY2022 | 4.5% | 0.32× | 1.08× | 1.6% |
| FY2021 | -17.5% | 0.23× | 1.07× | -4.3% |
| FY2020 | 108.6% | 0.15× | 1.11× | 18.3% |
| FY2019 | 32.7% | 0.19× | 1.12× | 6.9% |
| FY2018 | 21.8% | 0.22× | 1.08× | 5.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 4 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zero$117.73M
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net income$117.73M vs –
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.29 → 2.35
- No dilutionShare count did not rise90M → 91M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.48 → 0.58