- Vend Marketplaces (OB:VENDA): Evaluating Valuation Following Q3 Losses and Index Exits
Nov 3, 2025
Vend Marketplaces (OB:VENDA) is back in focus after reporting a swing to a substantial net loss in the third quarter, a sharp contrast from last year's gains. This loss was quickly followed by the company's removal from major global indices in a series of changes that could shape investor sentiment moving forward.
See our latest analysis for Vend Marketplaces.
It has been a volatile stretch for Vend Marketplaces, with investors reacting swiftly to the company’s earnings miss and index exits. Despite the churn, the stock is holding near NOK 358. While this masks the short-term turbulence, the total shareholder return over the past year sits at -1.9%. Remarkably, the long-term view remains far more positive, given a staggering 187% total return over three years. However, recent momentum has clearly faded.
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With shares trading just below analyst price targets and recent losses casting a shadow, investors may wonder if Vend Marketplaces is now trading below its true value or if the market has already factored in the company’s shifting prospects.
Price-to-Earnings of 10.5x: Is it justified?
Vend Marketplaces' shares are trading at a price-to-earnings (P/E) ratio of 10.5x, which is noticeably below both peer and industry averages. This points toward a potentially undervalued position by this measure.
The price-to-earnings ratio gauges how much investors are paying for each krone of earnings. In the interactive media and services sector, where profitability can swing dramatically, a below-average P/E often indicates the market is skeptical about the sustainability of current profits or future growth. However, it can also flag overlooked value, especially when results surprise to the upside.
Vend Marketplaces' P/E multiple is not only lower than the global interactive media and services industry average of 22.7x, but it also stands far below the peer group average of 27.5x. This may suggest the stock is trading at a steep discount relative to the broader sector. If the company's earnings prove resilient or rebound, the gap could spark renewed interest among investors looking for bargains.
See what the numbers say about this price — find out in our valuation breakdown.
Result: Price-to-Earnings of 10.5x (UNDERVALUED)
However, slowing revenue growth and a sharp decline in net income highlight ongoing risks. These factors could undermine confidence in Vend Marketplaces’ valuation advantage.
Story continues
Find out about the key risks to this Vend Marketplaces narrative.
Another View: What Does the DCF Say?
The SWS DCF model offers a very different perspective. According to our estimate, Vend Marketplaces’ fair value sits at NOK 303.47. This means the current price is actually trading above what the DCF suggests is reasonable. This overvaluation challenges the low price-to-earnings narrative. Could the market be too optimistic, or are fundamentals being overlooked?
Look into how the SWS DCF model arrives at its fair value.VENDA Discounted Cash Flow as at Nov 2025
Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Vend Marketplaces for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 836 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.
Build Your Own Vend Marketplaces Narrative
If you think there’s another side to the story, or want to dig deeper on your own terms, you can build your own narrative in just a few minutes. Do it your way
A great starting point for your Vend Marketplaces research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include VENDA.OL.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Index Removals and Losses Could Be a Game Changer for Vend Marketplaces (OB:VENDA)
Oct 31, 2025
Vend Marketplaces ASA recently reported third-quarter 2025 earnings, showing a net loss of NOK 651 million amid slightly lower revenues and was dropped from the FTSE All-World Index, S&P Global BMI Index, and experienced changes in its Oslo OBX Total Return Index inclusion. These developments come shortly after the company implemented significant changes to its share structure, merging share classes to create a single ordinary share. Given the combination of weak financial results and multiple index removals, we'll explore how these events might reshape Vend Marketplaces' investment narrative.
Find companies with promising cash flow potential yet trading below their fair value.
What Is Vend Marketplaces' Investment Narrative?
To be a shareholder in Vend Marketplaces right now, you need conviction in the company’s ability to rebound after a quarter marked by a substantial NOK 651 million loss and a series of index removals, including from the FTSE All-World and S&P Global BMI. These events have sharpened short-term uncertainty, as index exclusion may impact liquidity and institutional interest. Recent moves to simplify its share structure show a desire for improved governance and transparency, but the combination of weaker revenues, ongoing losses, and a less experienced management team keeps risk front and center. The price recently moved little despite dramatic earnings swings, suggesting these shocks might already be anticipated by investors. With analyst forecasts pointing to earnings decline over the next three years, the investment case now hinges more on operational execution and management stability than before.
On the flip side, board and management inexperience is now a more immediate concern for investors. Vend Marketplaces' shares are on the way up, but they could be overextended by 18%. Uncover the fair value now.
Exploring Other PerspectivesOB:VENDA Earnings & Revenue Growth as at Oct 2025
The Simply Wall St Community offers two concise fair value estimates for Vend Marketplaces, ranging from NOK303.47 to NOK380.80, reflecting the variety of expectations among private investors. While these opinions highlight differing views on potential value, the company’s lack of management tenure and forecasted earnings decline add weight to recent risk concerns. For the full picture, consider contrasting these community perspectives with your assessment of the company's evolving risks.
Explore 2 other fair value estimates on Vend Marketplaces - why the stock might be worth as much as 6% more than the current price!
Build Your Own Vend Marketplaces Narrative
Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.
Story Continues
A great starting point for your Vend Marketplaces research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision. Our free Vend Marketplaces research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Vend Marketplaces' overall financial health at a glance.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include VENDA.OL.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Vend Marketplaces (OB:VEND) Margin Surge Reinforces Debate Over Sustainability of One-Off Driven Profits
Oct 30, 2025
Vend Marketplaces (OB:VEND) posted a net profit margin of 86.8%, a sizeable increase from last year’s 22.6%. The reported financials were heavily impacted by a one-off NOK6.2 billion gain. While revenue is forecast to rise by 9.7% per year, well ahead of Norway’s expected 2% growth rate, the company’s earnings are projected to shrink at a rate of 8.4% annually over the next three years. Investors will weigh these mixed signals, balancing remarkable profit growth and a discounted 10.3x P/E ratio against the sustainability challenges posed by non-recurring gains and the prospect of near-term earnings declines.
See our full analysis for Vend Marketplaces.
Up next, we’ll compare these headline results to the most widely discussed narratives on Simply Wall St, highlighting where the numbers support consensus views and where they introduce new challenges.
Curious how numbers become stories that shape markets? Explore Community NarrativesOB:VEND Earnings & Revenue History as at Oct 2025
One-Off NOK6.2 Billion Gain Skews Margins
The latest net profit margin of 86.8% is primarily explained by a substantial NOK6.2 billion one-off gain, which is not part of core business operations. The prevailing market view notes that these headline margins appear impressive on the surface. However, they are unlikely to persist in future periods since the underlying recurring profitability is much lower.
Large non-recurring items make it difficult for investors to distinguish between genuine operating performance and temporary accounting lifts. This challenges bullish hopes for steadily high margins and raises questions about how much profit growth is actually sustainable going forward.
Revenue Growth Outpaces Industry, Earnings Forecasts Slide
Vend is expected to grow revenue by 9.7% annually, which is far above Norway’s overall market growth rate of 2%. However, earnings are forecast to fall by 8.4% per year over the next three years. According to the prevailing market view, this combination puts the spotlight on top-line momentum while exposing a gap between sales growth and bottom-line strength.
Investors looking for both steady profit and rapid sales expansion will see conflicting trends. Sales momentum supports optimism, but declining earnings forecasts back up the need for caution. This dynamic makes it difficult to argue for a straightforward bullish or bearish stance based solely on revenue growth figures.
Valuation Sits Well Below Peers and Sector
The company trades at a 10.3x P/E ratio, meaning investors are paying far less for each unit of earnings compared to the peer average of 36.9x and the global industry average of 22.2x. The prevailing market view points out that this sizable valuation gap could signal overlooked upside if fundamentals normalize. However, it might also reflect investor caution about non-recurring gains and declining earnings prospects.
If Vend’s profitability proves more stable than the market expects, the below-average multiple would heavily support a re-rating upward. If instead the one-off gains vanish and earnings shrink, the discounted valuation justifies investors’ skepticism and acts as a warning sign rather than a buying opportunity.
Story Continues
Next Steps
Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Vend Marketplaces's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.
See What Else Is Out There
Vend’s impressive growth headlines are clouded by heavy reliance on non-recurring gains and a worrying outlook for consistent earnings declines.
If your priority is steady performance, check out stable growth stocks screener (2121 results) to discover companies delivering reliability and predictable expansion when short-term profits falter elsewhere.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include VEND.OL.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Vend Marketplaces (OB:VENDA): Revisiting Valuation as Recent Share Price Activity Raises Investor Interest
Sep 14, 2025
Vend Marketplaces (OB:VENDA): Investors Eye Next Move Amid Recent Price Action
If you keep an eye on stocks that have shown some life but aren’t yet on everyone’s radar, Vend Marketplaces (OB:VENDA) might have caught your attention lately. There hasn’t been a standout event to explain the company’s recent share price movements, and sometimes that silence is the loudest signal. Investors are left weighing if recent shifts are a blip or a sign of changing expectations for the business. Either way, it is an inflection point worth thinking about.
Looking at Vend Marketplaces over the past year, shares have climbed 22% and the gain since the start of the year is 10%. Momentum over the last month has faded, breaking a short-term uptrend. Still, over a three-year stretch, the company has delivered a striking 226% total return, which is not something to ignore. Day-to-day, volatility is normal, but the longer trend hints at underlying interest that periodically heats up, then cools off just as quickly.
With things in flux, is the current dip a chance to pick up shares at a discount, or is the market already factoring in all knowable growth? The answer depends on how you see the company’s valuation from here.
Price-to-Earnings of 11.4x: Is it justified?
Vend Marketplaces is currently valued at a price-to-earnings (P/E) ratio of 11.4x, which is significantly below both its industry average (38.2x) and its peer average (28.5x). Based on this metric, VENDA appears to be trading at a discount compared to other companies in the European Interactive Media and Services sector as well as its direct competitors.
The price-to-earnings ratio is a widely followed benchmark for valuing profitable companies because it relates the company’s market price to the earnings it generates. Sectors with high growth expectations or strong profitability tend to have higher P/E multiples. In contrast, lower multiples can indicate either undervaluation, weaker prospects, or a temporary market mispricing.
Given Vend Marketplaces’ P/E ratio is below both industry and peers, the market may be discounting future earnings growth or has yet to fully price in recent profit acceleration. The low multiple suggests an opportunity for value-focused investors if the company can maintain or improve its current earnings performance.
Result: Fair Value of $301.92 (OVERVALUED)
See our latest analysis for Vend Marketplaces.
However, slowing annual revenue growth and a significant net income decline could quickly shift sentiment against Vend Marketplaces if these trends continue.
Story Continues
Find out about the key risks to this Vend Marketplaces narrative.
Another View: What Does Our DCF Model Say?
Taking a different approach, our SWS DCF model comes up with a result that challenges the earlier valuation. Instead of suggesting value, it leans in a different direction. Which perspective captures the full truth?
Look into how the SWS DCF model arrives at its fair value.VENDA Discounted Cash Flow as at Sep 2025
Stay updated when valuation signals shift by adding Vend Marketplaces to your watchlist or portfolio. Alternatively, explore our screener to discover other companies that fit your criteria.
Build Your Own Vend Marketplaces Narrative
If you see things differently or want to test your own views, you can dig into the numbers yourself and build your own take in just a few minutes. Do it your way
A great starting point for your Vend Marketplaces research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include VENDA.ob.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Schibsted ASA (SBBTF) Q1 2025 Earnings Call Highlights: Revenue Growth and Strategic ...
May 8, 2025
Group Revenue: NOK 2,015 million, a 4% year-on-year increase. Group EBITDA: NOK 394 million, an 18% increase year-on-year. Share Buyback Program: Initiated a NOK 2 billion program. Special Cash Dividend: Planned NOK 500 million linked to proceeds from Adevinta. Mobility Revenue: Declined by 1%; adjusted growth would have been 4% excluding certain factors. Real Estate Revenue: Increased by 20%, driven by 18% growth in classified revenues. Jobs Revenue (Norway): Increased by 5% despite a 10% volume decline. Re-commerce Revenue: Declined by 6%, with a 30% growth in transactional revenues. OpEx (excluding COGS): Declined by 9% year-on-year. Net Loss: NOK 2.2 billion, impacted by a fair value adjustment related to Adevinta. Cash Flow from Operations: NOK 257 million, up from NOK 10 million in Q1 last year. Net Cash: NOK 1.4 billion at the end of the quarter.
Warning! GuruFocus has detected 7 Warning Signs with SBBTF.
Release Date: May 07, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
Schibsted ASA (SBBTF) reported a 4% year-on-year increase in group revenues, reaching NOK2015 million. The company achieved an 18% increase in group EBITDA, amounting to NOK394 million, driven by strong performance in real estate and reduced operating expenses. A new NOK2 billion share buyback program was initiated, alongside a planned NOK500 million special cash dividend linked to proceeds from Adevinta. The real estate segment saw a 20% revenue increase, supported by a vibrant Norwegian market and strong ARPA growth. Schibsted ASA (SBBTF) successfully reduced OpEx excluding COGS by 9% year-on-year, reflecting effective cost management and workforce reductions.
Negative Points
Advertising revenues declined by 30%, primarily due to the separation from media, impacting overall revenue growth. The exit from jobs in Sweden and Finland negatively affected revenue growth, with ongoing impacts expected throughout 2025. Re-commerce revenues declined by 6%, influenced by the phase-out of non-core revenue streams and a 42% drop in advertising. Mobility revenues declined by 1% in Q1, with challenges in the professional ARPA segment due to customer churn. The company anticipates muted total revenue growth for the remainder of 2025, driven by advertising revenue pressures and strategic business simplifications.
Q & A Highlights
Q: Can you clarify the timing of the decision to sell the delivery business? Was there a strategic shift or change in performance that accelerated this decision? A: Per Morland, CFO, explained that there was no major strategic shift or change in the buyer landscape. The decision was part of a long-term strategy, and they are now ready to move forward with the sale.
Story Continues
Q: Should we read anything into your re-commerce conviction from the delivery announcement? How important is the delivery network for your re-commerce business? A: Christian Halvorsen, CEO, stated that the delivery announcement does not affect their conviction in re-commerce. They can operate re-commerce without owning the delivery network, as they do in other markets, and will maintain a partnership with the delivery network.
Q: Can you provide insights on the advertising business and when you expect trends to improve? A: Per Morland, CFO, acknowledged dissatisfaction with the current advertising business performance, attributing it to the separation from media. The goal is to recover to previous levels, but macroeconomic conditions remain a variable.
Q: Regarding the jobs segment, you're above your CMD target for margins. How should we expect margins to trend over the medium term? A: Christian Halvorsen, CEO, noted that Q1 is typically strong for jobs with high margins. However, margins are expected to normalize and end below the 55% target for the year.
Q: On real estate in Norway, is the volume growth market-driven or due to a gain in listing share? A: Christian Halvorsen, CEO, clarified that volume growth is market-driven, not due to increased market share, as they have all properties listed. The media coverage of contract discussions is exaggerated, and they maintain a constructive dialogue with customers.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.
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