GEODATA AS kept a net margin far above its Norwegian IT peers, while cash shrank

GEODATA AS, an Oslo company in the same IT and geodata industry as the peers it is measured against, reported revenue of NOK 575m in FY2025, up 7.8% on FY2024. Net profit reached NOK 80.1m, which is 13.9% of revenue. The median net margin among 8 comparable companies was 6.7%. The operating margin of 15.7% also sits above the peer median of 9.3%. Net profit rose 23.9% on the year, faster than revenue did.

A gap this wide usually has a reason: pricing power, a niche with less competition, or a lean cost base. It can also rest on one contract or one good year. The accounts do not say which applies here. I would watch the cash line: cash fell 75.9% to NOK 8.1k against total assets of NOK 599m, and the equity ratio stands at 12.0%. A margin above the peers is welcome, but the balance sheet is thin where cash is concerned.