AKER Stock Analysis: Aker ASA | OL
Conglomerates | OL, Norway | Market Cap: 83.798m NOK | 12M Return: 93.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 88.2M
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Aker ASA is a Norway-based industrial investment company operating across Norway, Europe, the Americas, and other international markets. Founded in 1841 and headquartered in Lysaker, the company is structured around two segments: Listed Equity Investments and Unlisted Equity Investments. Its portfolio spans a wide range of sectors, including oil and gas exploration and production, offshore supply vessels for the global energy market, renewable energy, industrial software and AI solutions (offered via SaaS subscriptions), krill-based and health/nutrition products, marine biomass harvesting, and long-term real estate development and management. Aker ASA operates as a subsidiary of TRG Holding AS.
As a multi-sector holding company, Aker ASA functions primarily as a long-term capital allocator and owner of operating subsidiaries and strategic equity stakes, rather than a single-line operator. Its nearly 180-year history makes it one of Norways oldest continuously operating industrial groups, with roots originally in shipbuilding and maritime industry before diversifying into modern energy, technology, and life sciences holdings. The combination of legacy energy assets with newer ventures in AI, renewable energy, and marine biotech reflects a broader portfolio strategy common among Nordic multi-sector holdings, where cash flow from mature industries funds growth in emerging sectors.
- Brent crude prices drive Aker BP and offshore segment cash flows
- Aker BioMarine krill pricing faces pressure from weaker omega-3 demand
- Capital allocation pivots toward Aker Horizons green energy exposure
| Net Income: 3.93b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -5.61 > 1.0 |
| NWC/Revenue: 14.74% < 20% (prev 99.92%; Δ -85.18% < -1%) |
| CFO/TA 0.07 > 3% & CFO 7.18b > Net Income 3.93b |
| Net Debt (39.8b) to EBITDA (4.96b): 8.03 < 3 |
| Current Ratio: 1.34 > 1.5 & < 3 |
| Outstanding Shares: last quarter (74.3m) vs 12m ago -0.01% < -2% |
| Gross Margin: 35.84% > 18% (prev 74.29%; Δ -38.45% > 0.5%) |
| Asset Turnover: 17.66% > 50% (prev 11.27%; Δ 6.39% > 0%) |
| Interest Coverage Ratio: 1.05 > 6 (EBIT TTM 3.44b / Interest Expense TTM 3.27b) |
| A: 0.03 (Total Current Assets 10.6b - Total Current Liabilities 7.85b) / Total Assets 99.6b |
| B: 0.41 (Retained Earnings 40.6b / Total Assets 99.6b) |
| C: 0.03 (EBIT TTM 3.44b / Avg Total Assets 104b) |
| D: 0.89 (Book Value of Equity 46.8b / Total Liabilities 52.8b) |
| Altman-Z'' = 2.66 = A |
| DSRI: 0.24 (Receivables 2.45b/6.70b, Revenue 18.4b/12.2b) |
| GMI: 2.07 (GM 74.29% / 35.84%) |
| AQI: 1.19 (AQ_t 0.60 / AQ_t-1 0.51) |
| SGI: 1.50 (Revenue 18.4b / 12.2b) |
| TATA: -0.03 (NI 3.93b - CFO 7.18b) / TA 99.6b) |
| Beneish M = -2.21 (Cap -4..+1) = BB |
As of July 04, 2026, the stock is trading at NOK 1224.00 with a total of 62,145 shares traded. Over the past week, the price has changed by +8.51%, over one month by -3.62%, over three months by +18.78% and over the past year by +93.22%.
Current recommended Stop Loss: 1176.00 (which is 3.9% or 1.3 ATR below the current price).
Aker ASA has no consensus analysts rating.
P/E Trailing = 20.7048
P/E Forward = 232.5581
P/S = 4.5632
P/B = 1.8097
P/EG = 1.8825
Revenue TTM = 18.4b NOK
EBIT TTM = 3.44b NOK
EBITDA TTM = 4.96b NOK
Long Term Debt = 38.7b NOK (from longTermDebt, last quarter)
Short Term Debt = 2.88b NOK (from shortLongTermDebt, last quarter)
Debt = 42.7b NOK (corrected: LT Debt 38.7b + ST Debt 2.88b) + Leases 1.12b
Net Debt = 39.8b NOK (calculated: Debt 42.7b - CCE 2.88b)
Enterprise Value = 124b NOK (83.8b + Debt 42.7b - CCE 2.88b)
Interest Coverage Ratio = 1.05 (Ebit TTM 3.44b / Interest Expense TTM 3.27b)
EV/FCF = 85.48x (Enterprise Value 124b / FCF TTM 1.45b)
FCF Yield = 1.17% (FCF TTM 1.45b / Enterprise Value 124b)
FCF Margin = 7.87% (FCF TTM 1.45b / Revenue TTM 18.4b)
Net Margin = 21.40% (Net Income TTM 3.93b / Revenue TTM 18.4b)
Gross Margin = 35.84% ((Revenue TTM 18.4b - Cost of Revenue TTM 11.8b) / Revenue TTM)
Gross Margin QoQ = 48.58% (prev 14.59%)
Tobins Q-Ratio = 1.24 (Enterprise Value 124b / Total Assets 99.6b)
Interest Expense / Debt = 7.67% (Interest Expense 3.27b / Debt 42.7b)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = 2.58b (EBIT 3.44b * (1 - 25.00%))
Current Ratio = 1.34 (Total Current Assets 10.6b / Total Current Liabilities 7.85b)
Debt / Equity = 0.91 (Debt 42.7b / totalStockholderEquity, last quarter 46.8b)
Debt / EBITDA = 8.03 (Net Debt 39.8b / EBITDA 4.96b)
Debt / FCF = 27.53 (Net Debt 39.8b / FCF TTM 1.45b)
Total Stockholder Equity = 48.4b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.78% (Net Income 3.93b / Total Assets 99.6b)
RoE = 8.11% (Net Income TTM 3.93b / Total Stockholder Equity 48.4b)
RoCE = 3.95% (EBIT 3.44b / Capital Employed (Equity 48.4b + L.T.Debt 38.7b))
RoIC = 2.84% (NOPAT 2.58b / Invested Capital 90.8b)
WACC = 6.78% (E(83.8b)/V(126b) * Re(7.31%) + D(42.7b)/V(126b) * Rd(7.67%) * (1-Tc(0.25)))
Discount Rate = 7.31% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 64.45 | Cagr: 0.02%
[DCF] Terminal Value 73.10% ; FCFF base≈3.93b ; Y1≈3.45b ; Y5≈2.79b
[DCF] Fair Price = 66.03 (EV 44.7b - Net Debt 39.8b = Equity 4.91b / Shares 74.3m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
Revenue Correlation: 67.19 | Revenue CAGR: 11.94% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=75.24 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=+0.0% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=77.19 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=+2.6% | GrowthRev=+0.0%