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Overview
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Momentum Group stock

MMGR B.ST
SE0017562523
A3DH17

Price

179.60 SEK
Today +/-
-0.07 SEK
Today %
-0.44 %

Momentum Group stock price

SEK
%
Weekly
Details

Price

Overview

The Quote Chart provides detailed and dynamic insights into the Momentum Group stock's performance, showcasing daily, weekly, or monthly aggregated quotes. Users can switch between different time frames to analyze the stock's progression meticulously and make informed investment decisions.

Intraday Feature

The intraday feature provides real-time data, allowing investors to view the Momentum Group stock’s price fluctuations within the trading day, facilitating timely and strategic investment decisions.

Total Return and Relative Price Change

View the total return of the Momentum Group stock to gauge its profitability over time. The relative price change, based on the first quote available in the selected timeframe, offers insights into the stock’s performance, assisting in evaluating its investment potential.

Interpretation and Investment

Utilize the comprehensive data presented in the Quote Chart to analyze Momentum Group's market trends, price movements, and potential returns. Make informed investment choices by comparing different time frames and evaluating intraday data for optimized portfolio management.

Momentum Group Stock Price History

DateMomentum Group Price
1/17/2025179.60 SEK
1/16/2025180.40 SEK
1/15/2025178.40 SEK
1/14/2025178.20 SEK
1/13/2025180.00 SEK
1/10/2025181.60 SEK
1/9/2025181.60 SEK
1/8/2025182.60 SEK
1/7/2025181.80 SEK
1/3/2025178.80 SEK
1/2/2025176.40 SEK
12/30/2024177.80 SEK
12/27/2024176.60 SEK
12/23/2024174.40 SEK

Momentum Group Revenue, EBIT, Net Income

  • 3 years

  • 5 years

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  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details

Revenue, EBIT and Profit

Understanding Revenue, EBIT, and Income

Gain insights into Momentum Group, a comprehensive overview of its financial performance can be obtained by analyzing the Revenue, EBIT, and Income chart. Revenue represents the total income generated by Momentum Group from its primary operations, showcasing the company’s ability to attract and retain clients. EBIT, or Earnings Before Interest and Taxes, indicates the company’s operational profitability, free from the influence of tax and interest expenses. The Income section reflects Momentum Group’s net earnings, an ultimate measure of its financial health and profitability.

Yearly Analysis and Comparisons

Observe the yearly bars to understand the annual performance and growth of Momentum Group. Compare the Revenue, EBIT, and Income to evaluate the company’s efficiency and profitability. A higher EBIT compared to the previous year suggests an improvement in operational efficiency. Likewise, an increase in Income indicates enhanced overall profitability. Analyzing the year-to-year comparison assists investors in understanding the company’s growth trajectory and operational efficiency.

Utilizing Expectations for Investment

The expected values for the forthcoming years offer investors a glimpse into Momentum Group’s anticipated financial performance. Analyzing these projections alongside historical data aids in making informed investment decisions. Investors can gauge the potential risks and returns, aligning their investment strategies accordingly to optimize profitability and mitigate risks.

Investment Insights

Leveraging the comparison between Revenue and EBIT helps in assessing Momentum Group’s operational efficiency, while the Revenue and Income comparison reveals the net profitability after accounting for all expenses. Investors can derive valuable insights by meticulously analyzing these financial parameters, laying the foundation for strategic investment decisions aimed at capitalizing on Momentum Group’s growth potential.

Momentum Group Revenue, EBIT and net profit per share

DateMomentum Group RevenueMomentum Group EBITMomentum Group Net Income
2026e3.25 B SEK337.34 M SEK285.37 M SEK
2025e3.11 B SEK319.16 M SEK267.22 M SEK
2024e2.94 B SEK297.95 M SEK245.04 M SEK
20232.3 B SEK237 M SEK170 M SEK
20221.74 B SEK185 M SEK137 M SEK
20211.49 B SEK155 M SEK116 M SEK
2020837 M SEK91 M SEK69 M SEK
20191.25 B SEK130 M SEK98 M SEK
20181.2 B SEK111 M SEK84 M SEK

Momentum Group Income Statement, Balance Sheet, Cash Flow Statement

  • Simple

  • Expanded

  • Income Statement

  • Balance Sheet

  • Cashflow

 
REVENUE (B SEK)REVENUE GROWTH (%)GROSS MARGIN (%)GROSS INCOME (B SEK)NET INCOME (M SEK)NET INCOME GROWTH (%)SHARES (M)DOCUMENTS
2018201920202021202220232024e2025e2026e
1.21.250.841.491.742.32.943.113.25
-4.85-33.2578.1416.6332.1427.726.064.43
42.3142.9043.6146.6847.3847.7437.3835.2433.74
0.510.540.370.70.821.1000
849869116137170245267285
-16.67-29.5968.1218.1024.0944.128.986.74
50.4850.4850.4850.4849.2249.4000
---------
Details

Keystats

Revenue and Growth

The Momentum Group Revenue and Revenue Growth are pivotal to understanding the company's financial health and operational efficiency. A consistent increase in revenue indicates a company’s ability to effectively market and sell its products or services, while the revenue growth percentage offers insights into the pace at which the company is expanding over the years.

Gross Margin

The Gross Margin is a crucial metric that showcases the percentage of revenue exceeding the cost of goods sold (COGS). A higher gross margin is indicative of a company’s efficiency in controlling its production costs, thereby promising potential profitability and financial stability.

EBIT and EBIT Margin

EBIT (Earnings Before Interest and Taxes) and EBIT Margin offer deep insights into a company’s profitability, excluding the impacts of interest and taxes. Investors often assess these metrics to gauge the operational efficiency and inherent profitability of a business, separate from its financial structure and tax environment.

Income and Growth

Net Income and its subsequent growth are quintessential for investors looking to understand a company’s profitability. Consistent income growth underscores a company’s ability to enhance its profitability over time, reflecting operational efficiency, strategic competitiveness, and financial health.

Shares Outstanding

Shares outstanding refer to the total number of shares a company has issued. It's instrumental in calculating key metrics like Earnings Per Share (EPS) which is pivotal for investors to evaluate a company’s profitability on a per-share basis, offering a more granular view of financial health and valuation.

Interpreting Year to Year Comparison

Comparing yearly data allows investors to identify trends, assess the company’s growth, and anticipate potential future performance. Analyzing how metrics like revenue, income, and margins change year over year can provide valuable insights into the company’s operational efficiency, competitiveness, and overall financial health.

Expectations and Predictions

Investors often juxtapose the current and past financial data with the market’s expectations. This comparison aids in assessing whether the Momentum Group is performing as anticipated, underperforming or outperforming the market predictions, providing pivotal data for investment decisions.

 
ASSETSCASH BALANCE (M SEK)RECEIVABLES (M SEK)OTHER REC. (M SEK)INVENTORIES (M SEK)OTHER CURRENT LIAB. (M SEK)CURRENT ASSETS (M SEK)TANGIBLE ASSETS (M SEK)LONG-T. INVEST. (M SEK)LONG-T. REC. (M SEK)INTANGIBLE ASSETS (M SEK)GOODWILL (M SEK)OTHER NON-CURRENT ASSETS (M SEK)NON-CURRENT ASSETS (B SEK)TOTAL ASSETS (B SEK)LIABILITIESCOMMON STOCK (M SEK)ADDITIONAL PAID-IN CAPITAL (M SEK)RETAINED EARNINGS (M SEK)OTHER EQUITY (M SEK)UNREAL. GAINS/LOSSES (M SEK)EQUITY (M SEK)LIABILITIES (M SEK)PROVISIONS (M SEK)OTHER SHORT-TERM LIAB. (M SEK)SHORT-TERM DEBTS (M SEK)LONG-TERM DEBT PORTION (M SEK)SHORT-TERM REC. (M SEK)LONG-T. LIAB. (M SEK)DEFERRED TAXES (M SEK)OTHER LIAB. (M SEK)LONG-T. LIABILITIES (M SEK)DEBT (B SEK)TOTAL CAPITAL (B SEK)
201820192020202120222023
           
2931145701747
203222170262310411
621459
191193176213285366
113451315
440451496554630848
66761144157221
000002
111112
1214114883299
153163164236300490
001122
0.170.250.240.430.541.02
0.610.70.730.981.171.86
           
00002525
000000
141256336457469594
23114-2
000000
143259337458498617
128140107153188228
595462104102133
1402549645875
000000
339264155142
330258244362403578
13815412191143419
110163451110
01010225199
139174147147245628
0.470.430.390.510.651.21
0.610.690.730.971.151.82
Details

Balance Sheet

Understanding the Balance Sheet

The balance sheet of Momentum Group provides a detailed financial snapshot, revealing the company's assets, liabilities, and equity at a specific point in time. Analyzing these components is crucial for investors looking to understand Momentum Group's financial health and stability.

Assets

Momentum Group's assets represent everything the company owns or controls that has monetary value. These are categorized into current and non-current assets, offering insights into the company's liquidity and long-term investments.

Liabilities

Liabilities are obligations that Momentum Group must settle in the future. Analyzing the ratio of liabilities to assets provides insights into the company's financial leverage and risk exposure.

Equity

Equity refers to the residual interest in the assets of Momentum Group after deducting liabilities. It represents the owners’ claim on the company’s assets and earnings.

Year-to-Year Analysis

Comparing balance sheet figures year-to-year allows investors to identify trends, growth patterns, and potential financial risks, facilitating informed investment decisions.

Interpreting the Data

Detailed analysis of assets, liabilities, and equity can provide investors with comprehensive insights into Momentum Group's financial standing, aiding in investment evaluations and risk assessments.

 
NET INCOME (M SEK)DEPRECIATION (M SEK)DEFERRED TAXES (M SEK)CHANGES IN WORKING CAPITAL (M SEK)NON-CASH ITEM (M SEK)PAID INTEREST (M SEK)PAID TAXES (M SEK)NET CASH FLOW FROM OPERATING ACTIVITIES (M SEK)CAPITAL EXPENDITURES (M SEK)CASH FLOW FROM INVESTING ACTIVITIES (M SEK)CASH FLOW FROM OTHER INVESTING ACTIVITIES (M SEK)INTEREST INCOME AND EXPENSES (M SEK)NET DEBT CHANGE (M SEK)NET CHANGE IN EQUITY (M SEK)CASH FLOW FROM FINANCING ACTIVITIES (M SEK)CASH FLOW FROM OTHER FINANCING ACTIVITIES (M SEK)TOTAL DIVIDENDS PAID (M SEK)NET CHANGE IN CASH FLOW (M SEK)FREE CASH FLOW (M SEK)SHARE-BASED COMPENSATION (M SEK)
20182019202020212022
10912789148177
535285468
00000
-12-2650-33-109
00-10-1
000710
1516-93159
102136166169135
0-3-3-5-5
-41-17-7-125-105
-41-14-4-120-100
00000
30-31-61-1415
0000-72
-47-117-45-119-83
-77-861622-16
00000
142114-75-53
102133163164130
00000

Momentum Group stock margins

The Momentum Group margin analysis displays the gross margin, EBIT margin, as well as the profit margin of Momentum Group. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for Momentum Group.
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Gross margin
EBIT margin
Profit margin
Details

Margin

Understanding Gross Margin

The gross margin, expressed as a percentage, delineates the gross profit made from the Momentum Group's sales revenue. A higher gross margin percentage indicates that the Momentum Group retains more revenue after accounting for the costs of goods sold. Investors use this metric to gauge financial health and operational efficiency, as well as to compare it with competitors and industry averages.

EBIT Margin Analysis

EBIT margin represents the Momentum Group's earnings before interest and taxes. Analyzing the EBIT margin over different years provides insights into the operational profitability and efficiency, excluding the effects of financial leverage and tax structure. A growing EBIT margin over the years signifies improving operational performance.

Revenue Margin Insights

The revenue margin demonstrates the Momentum Group's total revenue generated. When comparing the revenue margin year over year, investors can gauge the Momentum Group's growth and market expansion. It is essential to compare the revenue margin with the gross and EBIT margins to understand the cost and profit structures better.

Interpreting Expectations

The expected values for gross, EBIT, and revenue margins provide future financial outlook of the Momentum Group. Investors should compare these expectations with historical data to understand potential growth and risk factors. It is crucial to consider the underlying assumptions and methodologies used in projecting these expected values to make informed investment decisions.

Comparative Analysis

Comparing the gross, EBIT, and revenue margins, both yearly and over multiple years, enables investors to perform a comprehensive analysis of the Momentum Group's financial health and growth prospects. Evaluating the trends and patterns in these margins helps in identifying strengths, weaknesses, and potential investment opportunities.

Momentum Group Margin History

Momentum Group Gross marginMomentum Group Profit marginMomentum Group EBIT marginMomentum Group Profit margin
2026e47.74 %10.38 %8.78 %
2025e47.74 %10.25 %8.58 %
2024e47.74 %10.15 %8.35 %
202347.74 %10.31 %7.4 %
202247.38 %10.64 %7.88 %
202146.68 %10.4 %7.78 %
202043.61 %10.87 %8.24 %
201942.9 %10.37 %7.81 %
201842.31 %9.28 %7.02 %

Momentum Group Stock Sales Revenue, EBIT, Earnings per Share

The Momentum Group earnings per share therefore indicates how much revenue Momentum Group has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.
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  • Max

Sales per Share
EBIT per share
Earnings per Share
Details

Revenue, EBIT and Earnings per share

Revenue Per Share

Revenue per share represents the total revenue Momentum Group earns, divided by the number of outstanding shares. It is a crucial metric as it reflects the company's ability to generate sales and signifies growth and expansion potential. Comparing yearly revenue per share allows investors to analyze the consistency in a company’s earnings and predict future trends.

EBIT Per Share

EBIT per share indicates Momentum Group's earning before interest and taxes, offering insights into operational profitability excluding the effects of capital structure and tax rates. It can be juxtaposed against revenue per share to gauge the efficiency in converting sales into profits. A consistent increase in EBIT per share over the years underscores operational efficiency and profitability.

Income Per Share

Income per share, or earnings per share (EPS), reveals the portion of Momentum Group’s profit allocated to each share of common stock. It’s instrumental in evaluating the profitability and financial health. By comparing it with revenue and EBIT per share, investors discern how effectively a firm translates sales and operational profits into net income.

Expected Values

Expected values are projections of revenue, EBIT, and income per share for forthcoming years. These anticipations, rooted in historical data and market analysis, aid investors in strategizing their investments, evaluating Momentum Group's prospective performance, and estimating future stock prices. However, it’s pivotal to consider market volatilities and uncertainties that can influence these projections.

Momentum Group Revenue, EBIT and net profit per share

DateMomentum Group Sales per ShareMomentum Group EBIT per shareMomentum Group Earnings per Share
2026e65.12 SEK0 SEK5.72 SEK
2025e62.38 SEK0 SEK5.35 SEK
2024e58.79 SEK0 SEK4.91 SEK
202346.52 SEK4.8 SEK3.44 SEK
202235.33 SEK3.76 SEK2.78 SEK
202129.54 SEK3.07 SEK2.3 SEK
202016.58 SEK1.8 SEK1.37 SEK
201924.84 SEK2.58 SEK1.94 SEK
201823.69 SEK2.2 SEK1.66 SEK

Momentum Group business model

Momentum Group is one of the most popular companies on Eulerpool.com.
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Momentum Group Eulerpool Fair Value

Details

Fair Value

Understanding Fair Value

The fair value of a stock provides insights into whether the stock is currently undervalued or overvalued. It is calculated based on profit, revenue, or dividends and offers a comprehensive perspective of the stock’s intrinsic value.

Income-Based Fair Value

This is calculated by multiplying the earnings per share by the average P/E ratio of the selected past years for smoothing. If the fair value is higher than the current market price, it suggests that the stock is undervalued.

Example 2022

Fair Value Profit 2022 = Earnings per Share 2022 / Average P/E Ratio 2019 - 2021 (3 Years Smoothing)

Revenue-Based Fair Value

It is derived by multiplying the revenue per share by the average price-to-sales ratio of the selected past years for smoothing. An undervalued stock is identified if the fair value exceeds the ongoing market price.

Example 2022

Fair Value Revenue 2022 = Revenue per Share 2022 / Average PSR 2019 - 2021 (3 Years Smoothing)

Dividend-Based Fair Value

This value is determined by dividing the dividend per share by the average dividend yield of the selected past years for smoothing. A higher fair value than the market price indicates an undervalued stock.

Example 2022

Fair Value Dividend 2022 = Dividend per Share 2022 * Average Dividend Yield 2019 - 2021 (3 Years Smoothing)

Expectations and Forecasts

Future expectations provide potential trajectories for stock prices and aid investors in decision-making. The expected values are forecasted figures of fair value, taking into account the growth or decline trends of profit, revenue, or dividend.

Comparative Analysis

Comparing the fair value based on profit, revenue, and dividend provides a holistic overview of the stock’s financial health. Observing the annual and per-annual variations contributes to understanding the consistency and reliability of stock performance.

Momentum Group historical P/E ratio, EBIT multiple, and P/S ratio

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Momentum Group shares outstanding

The number of shares was Momentum Group in 2024 — This indicates how many shares 49.398 M is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.
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Number of stocks
Details

Revenue, EBIT and Earnings per share

Revenue Per Share

Revenue per share represents the total revenue Momentum Group earns, divided by the number of outstanding shares. It is a crucial metric as it reflects the company's ability to generate sales and signifies growth and expansion potential. Comparing yearly revenue per share allows investors to analyze the consistency in a company’s earnings and predict future trends.

EBIT Per Share

EBIT per share indicates Momentum Group's earning before interest and taxes, offering insights into operational profitability excluding the effects of capital structure and tax rates. It can be juxtaposed against revenue per share to gauge the efficiency in converting sales into profits. A consistent increase in EBIT per share over the years underscores operational efficiency and profitability.

Income Per Share

Income per share, or earnings per share (EPS), reveals the portion of Momentum Group’s profit allocated to each share of common stock. It’s instrumental in evaluating the profitability and financial health. By comparing it with revenue and EBIT per share, investors discern how effectively a firm translates sales and operational profits into net income.

Expected Values

Expected values are projections of revenue, EBIT, and income per share for forthcoming years. These anticipations, rooted in historical data and market analysis, aid investors in strategizing their investments, evaluating Momentum Group's prospective performance, and estimating future stock prices. However, it’s pivotal to consider market volatilities and uncertainties that can influence these projections.

Momentum Group dividend history and estimates

In 2024, Momentum Group paid a dividend amounting to 1.1 SEK. Dividend means that Momentum Group distributes a portion of its profits to its owners.
  • 3 years

  • 5 years

  • 10 years

  • 25 Years

  • Max

Dividend
Dividend (Estimate)
Details

Dividend

Dividend Overview

The dividend per year chart for Momentum Group provides a comprehensive view of the annual dividends distributed to shareholders. Analyze the trend to understand the consistency and growth in dividend payouts over the years.

Interpretation and Use

A consistent or increasing trend in dividends can indicate the company's profitability and financial health. Investors can use this data to identify Momentum Group’s potential for long-term investment and income generation through dividends.

Investment Strategy

Incorporate the dividend data in evaluating Momentum Group's overall performance. A thorough analysis, considering other financial aspects, will help in making informed investment decisions for optimal capital growth and income generation.

Momentum Group Dividend History

DateMomentum Group Dividend
20231 SEK
Momentum Group does not pay out any dividends.
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Unfortunately, there are currently no price targets and forecasts available for Momentum Group.

Momentum Group latest earnings and earnings surprises

DateEPS EstimateEPS ActualQuarterly report
9/30/20241.22 SEK1.05 SEK (-14.08 %)2024 Q3
6/30/20241.25 SEK1.05 SEK (-16.16 %)2024 Q2
12/31/20231.09 SEK0.85 SEK (-22.08 %)2023 Q4
9/30/20230.98 SEK0.85 SEK (-13.24 %)2023 Q3
6/30/20230.94 SEK0.9 SEK (-4.18 %)2023 Q2
3/31/20230.75 SEK0.85 SEK (13.73 %)2023 Q1
12/31/20220.86 SEK0.75 SEK (-12.64 %)2022 Q4
9/30/20220.78 SEK0.7 SEK (-9.99 %)2022 Q3
1

Momentum Group shareholders

%
Name
Stocks
Change
Date
45.82660 % Nordstjernan AB22,876,64103/31/2024
10.18057 % Ampfield Management LP5,082,143322,3953/31/2024
7.94331 % Fidelity Management & Research Company LLC3,965,30003/31/2024
4.00641 % Tredje AP Fonden2,000,0001,191,08312/31/2023
3.47739 % Lannebo Fonder AB1,735,91503/31/2024
1.94882 % Handelsbanken Kapitalf¿rvaltning AB972,850-134,0029/30/2024
1.72535 % C WorldWide Asset Management Fondsmaeglerselskab A/S861,296861,2969/30/2024
1.60256 % Sandrew AB800,00003/31/2024
1.45891 % Foord Asset Management (Pty) Limited728,286-17,9043/31/2024
1.28860 % Dimensional Fund Advisors, L.P.643,2702,3113/31/2024
1
2
3
4
...
5

Momentum Group Executives and Management Board

Mr. Ulf Lilius

(50)
Momentum Group President, Chief Executive Officer
Compensation 8.23 M SEK

Mr. Niklas Enmark

(51)
Momentum Group Chief Financial Officer, Executive Vice President
Compensation 4.64 M SEK

Mr. Johan Sjoe

(56)
Momentum Group Chairman of the Board (since 2021)
Compensation 625,000 SEK

Ms. Gunilla Spongh

(57)
Momentum Group Independent Board Member
Compensation 400,000 SEK

Ms. Ylva Ersvik

(35)
Momentum Group Director
Compensation 250,000 SEK
1
2

Most common questions regarding Momentum Group

What is the P/E ratio of Momentum Group 2025?

The Momentum Group P/E ratio is 33.2.

What is the P/S ratio of Momentum Group 2025?

The Momentum Group P/S ratio is 2.85.

What is the Quality Investing of Momentum Group?

The Quality Investing for Momentum Group is 6/10.

What is the revenue of Momentum Group 2025?

The expected Momentum Group revenue is 3.11 B SEK.

How high is the profit of Momentum Group 2025?

The expected Momentum Group profit is 267.22 M SEK.

What is the business model of Momentum Group

No history available for Momentum Group.

What is the Momentum Group dividend?

Momentum Group pays a dividend of 0 SEK distributed over payouts per year.

How often does Momentum Group pay dividends?

The dividend cannot currently be calculated for Momentum Group or the company does not pay out a dividend.

What is the Momentum Group ISIN?

The ISIN of Momentum Group is SE0017562523.

What is the Momentum Group WKN?

The WKN of Momentum Group is A3DH17.

What is the Momentum Group ticker?

The ticker of Momentum Group is MMGR B.ST.

How much dividend does Momentum Group pay?

Over the past 12 months, Momentum Group paid a dividend of 1 SEK . This corresponds to a dividend yield of about 0.56 %. For the coming 12 months, Momentum Group is expected to pay a dividend of 1.1 SEK.

What is the dividend yield of Momentum Group?

The current dividend yield of Momentum Group is 0.56 %.

When does Momentum Group pay dividends?

Momentum Group pays a quarterly dividend. This is distributed in the months of .

How secure is the dividend of Momentum Group?

Momentum Group paid dividends every year for the past 0 years.

What is the dividend of Momentum Group?

For the upcoming 12 months, dividends amounting to 1.1 SEK are expected. This corresponds to a dividend yield of 0.61 %.

In which sector is Momentum Group located?

Momentum Group is assigned to the 'Industry' sector.

Wann musste ich die Aktien von Momentum Group kaufen, um die vorherige Dividende zu erhalten?

To receive the latest dividend of Momentum Group from 5/15/2024 amounting to 1.1 SEK, you needed to have the stock in your portfolio before the ex-date on 5/8/2024.

When did Momentum Group pay the last dividend?

The last dividend was paid out on 5/15/2024.

What was the dividend of Momentum Group in the year 2024?

In the year 2024, Momentum Group distributed 1 SEK as dividends.

In which currency does Momentum Group pay out the dividend?

The dividends of Momentum Group are distributed in SEK.

All fundamentals about Momentum Group

Our stock analysis for Momentum Group Revenue stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of Momentum Group Revenue. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.