Medistim just posted its Q3 2026 scorecard, and the share price closed today at NOK300 after a strong run into the release. Traders were primed for perfection. The headline was exactly the kind of print that tests that optimism. Revenue reached NOK209.987 million with an EBIT margin around 30% and the company backed it up with a first regular quarterly dividend of NOK2.50 per share. The tension today is simple: short term price action is trying to handicap whether that margin strength is fully repeatable while the reported figures point to a business still defending profitability.
Love Medistim's 30% EBIT margin and fresh NOK2.50 quarterly dividend but unsure how repeatable that strength really is? Compare this setup with a wider group of high quality, lower risk ideas in our 221 resilient stocks with low risk scores.
Q3 2026 Earnings Summary
- Revenue (Q3 2026 vs. Q3 2025): NOK209.987 million vs. NOK166.849 million (up 25.9%)
- Net Income, excl. extra items (Q3 2026 vs. Q3 2025): NOK47.802 million vs. NOK34.712 million (up 37.7%)
- Basic EPS (Q3 2026 vs. Q3 2025): NOK2.853769 vs. NOK1.899391 (up 50.2%)
- EBIT Margin (Q3 2026 vs. Q3 2025): approximately 30.1% vs. approximately 24.0% (record quarterly level, driven by sales mix and tariff refund)
Medistim just approved its first ever quarterly dividend. Ask Charlie what Medistim’s first quarterly dividend signals to investors.
Medistim Q3 print tests the pricing and mix story
Bulls argue Medistim’s upside rests on shifting more business into direct channels and higher value systems where pricing can do heavier lifting than volume.
"Use of pricing power for Flow and Imaging systems in the U.S., where management quantified that roughly 37 percentage points of 46% currency neutral growth in Q2 2026 came from price rather than volume, creates room for mix and price to contribute more to revenue than unit growth alone and can support EBIT margins even if tariffs or costs weigh on gross margin."
Q3 results lean in that direction. Imaging revenue rose 57.9%, Flow and Imaging units climbed 27%, and America’s currency neutral growth reached 51.7%, all while EBIT margin landed around 30% despite tariff costs.
Not everyone reads the same price the same way. → See the higher figure this Narrative lands on, and how it gets there.
Medistim bears focus on costs, cash and vascular drag
Critics argue Medistim’s cost base and cash generation are flashing early warning signs rather than funding clean, high quality growth.
"Ongoing projects to automate high volume probe production and migrate IT systems to the cloud are meant to secure future scalability. At the same time, current evidence of elevated operating expenses, capitalized intangible investments, and weaker cash from operations due to working capital absorption suggests a period where free cash flow and net cash balances remain under strain."
Q3 cuts against that worry. Operating expenses are higher, yet EBIT margin is about 30% and operating cash flow reached NOK91.5m, lifting net cash to NOK175.6m while funding trials and IT projects.
Hunt For Mispriced Quality Setups
Medistim just showed how strong reported numbers and cash can still leave investors debating durability. The real opportunity sits in spotting stocks that could be mispriced before more capital chases them.
- Company 1 - 29% below our estimate - develops higher value memory and mixed signal test lines for expanding AI centric workloads.
- Company 2 - 18% below our estimate - targets high demand connectivity projects as tailored routers and subscriptions replace one off hardware deployments.
- Company 3 - 33% below our estimate - sells AI accelerators and software that data centre operators adopt as workloads concentrate around one dominant compute stack.
Those are three of them. See all 194 potentially undervalued companies →
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