To the full analysis
NOTE stock: growth
NOTE.STNOTE reported $382.44M in revenue for fiscal 2025, down 2.2% on the prior year, up 15.3% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
4.2%
per year from 2006 to 2025, per share 2.3%
Earnings (Annual rate)
7.7%
per year from 2006 to 2025, per share 5.7%
Free cash flow (Annual rate)
17.3%
per year from 2006 to 2025, per share 15.2%
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | 15.3% | 13.0% | 4.2% |
| Revenue per share | 15.2% | 13.2% | 2.3% |
| Earnings | 19.4% | 23.3% | 7.7% |
| Earnings per share | 19.3% | 23.4% | 5.7% |
| Free cash flow | 17.9% | 54.0% | 17.3% |
| Free cash flow per share | 17.8% | 54.2% | 15.2% |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $174.62M | $6.88M | $1.89M |
| 2007 | $174.85M | $7.85M | $811K |
| 2008 | $171.41M | $1.32M | $3.67M |
| 2009 | $120.33M | −$8.12M | $2.62M |
| 2010 | $121.4M | −$6.21M | −$3.01M |
| 2011 | $121.21M | $3.95M | $3.06M |
| 2012 | $103.2M | $1.27M | $9.31M |
| 2013 | $90.94M | $65.18K | −$612.26K |
| 2014 | $96.66M | $2.46M | $233.53K |
| 2015 | $112.45M | $3.47M | $523.92K |
| 2016 | $110.11M | $4.53M | $3.97M |
| 2017 | $117.89M | $7.23M | $2.57M |
| 2018 | $138.23M | $6.44M | $367.9K |
| 2019 | $176.52M | $9.25M | $7.52M |
| 2020 | $187.89M | $11.6M | $17.22M |
| 2021 | $265.06M | $19.46M | −$6.19M |
| 2022 | $369.72M | $25.49M | $267.93K |
| 2023 | $425.49M | $32.08M | $25.08M |
| 2024 | $391.16M | $24.87M | $49.65M |
| 2025 | $382.44M | $28.18M | $39.25M |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = SEK 9.9729)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 12 Jun 2026)
- Valuation signal Fairly valued since 13 Nov 2026, previously Undervalued
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.