Opera Limited

OPRA

Internet Content & Information · Communication Services

Price

$19.36

-0.52 (-2.62%)

Market Cap

$1.73B

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count falling — buybacks

−21.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 115.1M (2021) → 91.0M (2025)

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and Opera Touch; PC browsers, including Opera for Computers and Opera GX; and Opera News, an AI-powered personalized news discovery and aggregation service. It also provides browser-based cashback rewards under the Dify brand name; owns GameMaker Stu

Winston Score History

Growth Profile

For growth stock investors

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

Revenue Growth

+23.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+28.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (12%)

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

Insider Activity

68.2%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$142M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Opera Limited is a rare growth stock that's already generating positive cash flow while growing at 23%. 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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

63.2%

Premium pricing power — 63.2% gross margin

Operating Margin

17.3%

Healthy — 17.3% operating margin

ROCE

3.1%

Weak — 3.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+24.2%

Fast-growing sales (24.2% YoY)

EPS YoY

+34.7%

Earnings growing fast (34.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

126%

Turns 126% of profit into real cash

FCF Margin

19.9%

Converts sales into free cash efficiently (19.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

165.41x

Comfortably covers interest (165.4x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

15.1x

Fair value — P/E 15.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+4.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (15.1 → 10.8)

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Dividends

Dividend Yield

4.32%

Healthy income — 4.32% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

-19.3%

Dividend cut (-19.3% YoY) — warning sign

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