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Employees: 1,321
Size B2 Impact (B2I.OL) is a Norway Industrials company (Miscellaneous Commercial Services) with a market value of $947M, the 65th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 23.70 on 6 Nov 2026.
Performance Over six months the shares gained 1.3%, against -10.3% for the median peer and +2.7% for the Norway market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 8.5% over the last twelve months (peer median +4.9%); the operating margin is 48.5% (peer median 10.6%).
Valuation It trades at 10.2× forward earnings against a peer median of 17.5× (3rd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.7 points above its cost of capital (6.6% WACC).
Credit B2 Impact has 4 bonds outstanding ($891M), rated BB by the agencies.
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 3.80B | NOK 3.60B | NOK 3.44B | NOK 3.52B | NOK 2.98B |
| Revenue growth | — | +5% | -2% | +18% | — |
| Gross profit | NOK 3.14B | NOK 3.35B | NOK 3.20B | NOK 3.28B | NOK 2.80B |
| EBITDA | NOK 1.93B | NOK 2.07B | NOK 1.77B | NOK 1.81B | NOK 1.52B |
| Net income | NOK 688M | NOK 621M | NOK 277M | NOK 363M | NOK 326M |
| Free cash flow | NOK 3.92B | NOK 3.89B | NOK 2.84B | NOK 3.22B | NOK 2.54B |
| Capital expenditure | NOK 46.0M | NOK 63.0M | NOK 34.0M | NOK 67.0M | NOK 27.0M |
| Total debt | NOK 10.7B | NOK 10.5B | NOK 9.96B | NOK 10.6B | NOK 10.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | B2I.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.6% | -0.4% | 7th highest of 21 |
| 6-month return | +1.3% | -10.3% | 7th highest of 21 |
| Distance from 52-week high | -13.7% | -25.5% | 3rd highest of 21 |
| Revenue growth (TTM) | +8.5% | +4.9% | 8th highest of 21 |
| Operating margin | 48.5% | 10.6% | 2nd highest of 21 |
| Forward P/E | 10.2× | 17.5× | 3rd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -8.3% | 3.1% | 2nd least demanding of 16 |
| Growth delivered (Del g) | +3.1% | +14.5% | 2nd lowest of 16 |
| Hurdle (Req g minus delivered) | -11.4 pp | -13.9 pp | 7th most demanding of 16 |
| ROIC minus cost of capital | +2.7 pp | +2.0 pp | 10th highest of 19 |
| EV / EBITDA | 9.9× | 8.5× | 6th most expensive of 13 |
| Net debt / EBITDA | 5.3× | 0.2× | 2nd most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| B2 Impact B2I.OL | Norway | $947M | +1% | +9% | 48% | 10.2× | -8.3% | +3.1% |
| Service Stream SSM.AX | Australia | $943M | +7% | +1% | 3% | 17.6× | 11.7% | +24.0% |
| W.A.G. Payment Solutions EWG.L | United Kingdom | $935M | -4% | +16% | 3% | 17.5× | -1.7% | +12.2% |
| Wavestone WAVE.PA | France | $931M | -22% | +1% | 12% | 10.0× | -5.3% | +18.0% |
| Shaanxi Fenghuo Electronics 000561.SZ | China | $929M | -24% | +8% | -26% | n/a | n/a | n/a |
| Embedway Technologies (Shanghai) 603496.SS | China | $910M | -37% | +4% | 1% | 137.0× | 54.3% | +14.5% |
| Rites RITES.NS | India | $990M | -15% | +11% | 20% | 19.7× | 19.8% | +5.3% |
| Shanghai Action Education Tehnology 605098.SS | China | $991M | -10% | +15% | 40% | 16.3× | -3.0% | +16.4% |
| GL events GLO.PA | France | $991M | -14% | +6% | 10% | 8.7× | 3.1% | +29.1% |
| Shenzhen Boshijie Technology 301608.SZ | China | $1.00B | -20% | +15% | 14% | 20.9× | n/a | n/a |
| Zhejiang Meorient Commerce & Exhibition 300795.SZ | China | $890M | -1% | -3% | 18% | 29.6× | n/a | n/a |
| Willdan WLDN | United States | $1.01B | -25% | +18% | 7% | 14.5× | 15.4% | +11.8% |
| Xi'an High Voltage Apparatus Research Institute 688334.SS | China | $889M | -10% | +4% | 29% | 21.3× | -2.4% | +20.3% |
| IP Group plc IPO.L | United Kingdom | $879M | +13% | -37% | 51% | 11.9× | n/a | n/a |
| Graincorp GNC.AX | Australia | $1.02B | +9% | -2% | 0% | 46.7× | n/a | n/a |
| Aimed Bio 0009K0.KS | South Korea | $875M | -61% | +223% | 36% | n/a | 13.2% | +652.2% |
| Neurones NRO.PA | France | $1.04B | +5% | +7% | 9% | 17.1× | -8.3% | +10.3% |
| DOOSAN TESNA 131970.KS | South Korea | $861M | -53% | +3% | 11% | 36.9× | 17.8% | +18.1% |
| NOMURA 9716.T | Japan | $861M | +4% | -10% | 7% | 14.1× | -8.4% | +8.6% |
| Funshine Culture 300860.SZ | China | $858M | +21% | -49% | -35% | 28.1× | 27.8% | -24.6% |
| Smartgroup SIQ.AX | Australia | $1.06B | +1% | +10% | 37% | 16.8× | -0.5% | +8.8% |
B2 Impact has 4 bonds outstanding with $891M face value. The agencies rate it BB.