KIT Balance Sheet - Kitron ASA

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Price: 89.4 NOK 5.3%

Market Cap: kr19.6B

	Kitron ASA OSE:KIT	NO
N	Novo Nordisk A/S DUS:NOVA	DK
	Charger Metals NL ASX:CHR	AU
R	Robinsons Land Corp XPHS:RLC	PH

Financial profile · Q3 FY2026

A scalable electronics-manufacturing model with working-capital-sensitive cash generation

Across the multi-year record, Kitron shows sizable revenue swings but recurring operating profitability, with margins expanding as volume scales. It has generally generated free cash flow with relatively restrained capital spending, while inventory, receivables, and customer deposits make cash conversion uneven.

What is developing

Growth broadened across sectors while the latest EBIT margin remained about 9.5%; inventory staged for later deliveries temporarily compressed cash conversion. This expands Kitron’s scale and sector mix without yet changing its working-capital-sensitive financial pattern.

What matters next

Whether the inventory built for upcoming deliveries converts into shipments and operating cash in subsequent quarters.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	134.4m	176.7m	45.7m	204m	13.7m	38.5m	24.5m	39m	48.7m	145.8m
Cash Equivalents	134.4m	176.7m	45.7m	204m	13.7m	38.5m	24.5m	39m	48.7m	145.8m
Total Receivables	483.3m	580.4m	972.6m	1B	106.3m	113.5m	213.7m	219.8m	210.7m	269.6m
Accounts Receivables	444.3m	551.4m	935.6m	1B	103.9m	109.2m	203.1m	209.4m	204.5m	254.2m
Other Receivables	39m	29m	37.1m	36m	2.5m	4.3m	10.6m	10.4m	6.2m	15.4m
Inventory	384.9m	398.9m	448.2m	445.6m	46.1m	75.4m	172.7m	166.4m	141.4m	155.1m
Other Current Assets	3.2m	19.2m	21m	36m	3.4m	4.9m	3.2m	1.7m	1.4m	13.3m
Total Current Assets	1B	1.2B	1.5B	1.7B	168.8m	230.4m	415.5m	426.9m	402.2m	583.8m
PP&E Net	232.3m	277.9m	293.2m	507.1m	41.9m	38.7m	58.4m	74.7m	75.1m	80.2m
PP&E Gross	232.3m	277.9m	293.2m	507.1m	41.9m	38.7m	58.4m	74.7m	75.1m	80.2m
Accumulated Depreciation	(822.3m)	(866.7m)	(914.5m)	(990.3m)	(91.9m)	(101m)	(131.3m)	(146.1m)	(161.9m)	(177.7m)
Intangible Assets	17.7m	10.8m	12.6m	28m	4.5m	3.8m	30.3m	27.2m	26.3m	25.7m
Goodwill	26.8m	26.8m	26.8m	36.9m	3.1m	3.2m	45m	44.8m	44.4m	45m
Note Receivable	—	—	—	2.2m	389.3k	883.2k	1m	900k	900k	0
Other Long-Term Assets	70.4m	58m	46m	86.8m	6.1m	6.3m	8.8m	6.3m	7.1m	6.6m
Other Assets	26.8m	26.8m	26.8m	36.9m	3.1m	3.2m	45m	44.8m	44.4m	45m
Total Assets	1.4B	1.5B	1.9B	2.4B	224.8m	283.3m	559m	580.8m	556m	741.3m
Accounts Payable	315.1m	428.8m	594.8m	514.4m	59.5m	78.6m	192.1m	181.9m	155.1m	268.7m
Accrued Liabilities	—	—	91.5m	81.1m	7.6m	7.4m	22m	29.4m	15.6m	19.8m
Short-Term Debt	221.8m	197.7m	227.8m	288.2m	29.9m	46.3m	45.7m	34.9m	36.3m	0
Current Portion of Long-Term Debt	67m	77.8m	173.2m	369.1m	24.5m	21.6m	15.6m	20.2m	17.7m	21.5m
Other Current Liabilities	95.5m	94.8m	39.4m	51.1m	4.4m	5.4m	12.8m	10.7m	14.1m	13.8m
Deferred Revenue	—	—	—	—	—	—	—	—	1.7m	1.1m
Total Current Liabilities	699.5m	799.1m	1.1B	1.3B	126m	159.3m	288.2m	277.1m	238.8m	323.8m
Long-Term Debt	61.5m	76.4m	40.8m	331m	22.7m	17.7m	119.4m	113.2m	108.3m	92.8m
Deferred Income Tax	944k	3.4m	1.2m	16.1m	400.3k	361.6k	6.3m	5.4m	8.6m	9.1m
Other Liabilities	6.3m	6.2m	6m	5.9m	741.2k	837.8k	1.8m	1.6m	1.4m	1.7m
Total Liabilities	768.2m	885.1m	1.2B	1.7B	149.8m	178.2m	415.7m	397.3m	357.1m	427.4m
Common Stock	473.7m	473.7m	473.7m	474m	40.1m	1.7m	1.9m	1.9m	1.9m	2m
Retained Earnings	150.7m	205.7m	219m	281.1m	34.3m	104.9m	139.1m	106m	121.6m	157.1m
Additional Paid In Capital	—	—	—	—	—	—	—	75.4m	75.4m	155.7m
Other Equity	(39.6m)	(15.8m)	(1.2m)	(15.8m)	603.3k	(1.4m)	2.3m	200k	0	(900k)
Total Equity	584.8m	663.6m	691.5m	739.2m	75m	105.1m	143.3m	183.5m	198.9m	313.9m
Total Liabilities & Equity	1.4B	1.5B	1.9B	2.4B	224.8m	283.3m	559m	580.8m	556m	741.3m
Common Shares Outstanding	176.2m	176.2m	176.2m	179.1m	179.1m	197m	197.7m	198.2m	198.9m	216.4m