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LINK Mobility Group Holding ASA

LINK.OL
45
Software - Application · Technology
Price
kr 24.96
+0.02 (+0.08%)
Market Cap
kr 7.29B
Exchange
Oslo Stock Exchange
Winston Score
45
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Strong
Stability
Strong
Valuation
Good

Share count rising — dilution

+4.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 294.3M (2021) → 307.7M (2025)

Winston Score History

The full picture

LINK Mobility is a European company that helps businesses send text messages, push notifications, and other digital messages to their customers. Its main clients are banks, retailers, healthcare providers, and other large organizations that need to reach people quickly through their phones. The company is one of the largest business messaging providers in Europe.

LINK Mobility makes money by charging businesses for each message sent or through volume-based contracts, rather than selling hardware or software licenses. It operates across more than 20 countries, mostly in Europe, and has built a broad network of carrier connections that makes it easier and cheaper to deliver messages at scale. The company's main growth driver is the continued shift by businesses toward digital and mobile customer communication, but its low margins and heavy reliance on telecom carrier relationships mean pricing pressure and competition from larger tech platforms remain real risks.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+16.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

kr 0/ year

Declining (-100% vs prior year)

0.0% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

46.8%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 783M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

LINK Mobility Group Holding ASA is a rare growth stock that's already generating positive cash flow while growing at 17%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
10.9%
Thin — 10.9% gross margin
Profit after running costs
Operating Margin
6.9%
Modest — 6.9% operating margin
Return on the money invested
ROCE
5.7%
Weak — 5.7% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+11.8%
Steady sales growth (+11.8% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
267%
Turns 267% of profit into real cash
Spare cash per sale
FCF Margin
7.3%
Modest free cash flow (7.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.52
Conservative — low debt load (0.52)
Covers its interest
Interest Cover
4.14x
Adequate interest coverage (4.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
30.8x
Pricey — P/E 30.8

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+16.3
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (30.8 → 14.5)

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Dividends

Not applicable for this business.
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