DNO Stock Analysis: Dno ASA | OL
Oil & Gas E&P | OL, Norway | Market Cap: 18.691m NOK | 12M Return: 38.9% | NO0003921009 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 49.5M
Qual. Beats: 0
Rev. Trend: 82.9%
Qual. Beats: -5
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 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.
DNO ASA is a Norway-based upstream oil and gas company engaged in the exploration, development, and production of hydrocarbons across the Middle East, the North Sea, and West Africa. The company holds a 75% operating interest in the Tawke and Peshkabir fields in the Kurdistan region of Iraq and a smaller stake of approximately 9% in Côte dIvoires offshore Block CI-27. It also maintains a substantial North Sea portfolio, including 129 offshore licenses in Norway, seven in the UK, and one in the Netherlands currently in the decommissioning phase.
As an E&P operator, DNOs revenue and cash flow are tied directly to hydrocarbon production volumes and realized commodity prices, making it sensitive to oil price cycles. Its Kurdistan assets represent the companys core producing region, while the Norwegian and UK North Sea licenses provide exposure to mature, regulated basins with established infrastructure and higher operating costs. The company was incorporated in 1971 and is headquartered in Oslo, having previously operated under the name DNO International ASA until rebranding in June 2014.
- Kurdistan Tawke production volumes and KRG payment arrears clear
- Brent crude price swings shift realized oil revenues
- North Sea Norway output growth supports dividend capital returns
| Net Income: 119.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA 1.92 > 1.0 |
| NWC/Revenue: -7.41% < 20% (prev -7.76%; Δ 0.34% < -1%) |
| CFO/TA 0.30 > 3% & CFO 1.85b > Net Income 119.8m |
| Net Debt (-508.6m) to EBITDA (1.49b): -0.34 < 3 |
| Current Ratio: 0.88 > 1.5 & < 3 |
| Outstanding Shares: last quarter (975.0m) vs 12m ago 0.0% < -2% |
| Gross Margin: 50.41% > 18% (prev 37.44%; Δ 12.97% > 0.5%) |
| Asset Turnover: 38.65% > 50% (prev 12.66%; Δ 25.99% > 0%) |
| Interest Coverage Ratio: 17.74 > 6 (EBIT TTM 1.09b / Interest Expense TTM 61.3m) |
| A: -0.03 (Total Current Assets 1.28b - Total Current Liabilities 1.46b) / Total Assets 6.24b |
| B: 0.09 (Retained Earnings 583.9m / Total Assets 6.24b) |
| C: 0.17 (EBIT TTM 1.09b / Avg Total Assets 6.25b) |
| D: 0.28 (Book Value of Equity 1.36b / Total Liabilities 4.88b) |
| Altman-Z'' = 1.58 = BB |
| DSRI: 0.33 (Receivables 179.8m/178.5m, Revenue 2.42b/792.8m) |
| GMI: 0.74 (GM 37.44% / 50.41%) |
| AQI: 0.94 (AQ_t 0.29 / AQ_t-1 0.30) |
| SGI: 3.05 (Revenue 2.42b / 792.8m) |
| TATA: -0.28 (NI 119.8m - CFO 1.85b) / TA 6.24b) |
| Beneish M = -2.41 (Cap -4..+1) = BBB |
As of October 08, 2026, the stock is trading at NOK 18.97 with a total of 2,327,723 shares traded. Over the past week, the price has changed by -0.37%, over one month by +3.27%, over three months by +19.34% and over the past year by +38.85%.
Current recommended Stop Loss: 18.20 (which is 4.1% or 1.6 ATR below the current price).
Dno ASA has no consensus analysts rating.
Market Cap USD = 1.95b (18.7b NOK * 0.10442 NOK.USD)
P/E Trailing = 24.2658
P/E Forward = 3.3727
P/S = 7.7356
P/B = 1.4534
P/EG = 0.7437
Revenue TTM = 2.42b USD
EBIT TTM = 1.09b USD
EBITDA TTM = 1.49b USD
Long Term Debt = 990.5m USD (from longTermDebt, last quarter)
Short Term Debt = 102.6m USD (from shortLongTermDebt, last quarter)
Debt = 41.2m USD (Leases only: 41.2m)
Net Debt = -508.6m USD (calculated: Debt 41.2m - CCE 549.8m)
Enterprise Value = 1.44b USD (1.95b + Debt 41.2m - CCE 549.8m)
Interest Coverage Ratio = 17.74 (Ebit TTM 1.09b / Interest Expense TTM 61.3m)
EV/FCF = -51.17x (Enterprise Value 1.44b / FCF TTM -28.2m)
FCF Yield = -1.95% (FCF TTM -28.2m / Enterprise Value 1.44b)
FCF Margin = -1.17% (FCF TTM -28.2m / Revenue TTM 2.42b)
Net Margin = 4.96% (Net Income TTM 119.8m / Revenue TTM 2.42b)
Gross Margin = 50.41% ((Revenue TTM 2.42b - Cost of Revenue TTM 1.20b) / Revenue TTM)
Gross Margin QoQ = 60.83% (prev 52.11%)
Tobins Q-Ratio = 0.23 (Enterprise Value 1.44b / Total Assets 6.24b)
Interest Expense / Debt = 148.8% (Interest Expense 61.3m / Debt 41.2m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 859.2m (EBIT 1.09b * (1 - 21.00%))
Current Ratio = 0.88 (Total Current Assets 1.28b / Total Current Liabilities 1.46b)
Debt / Equity = 0.03 (Debt 41.2m / totalStockholderEquity, last quarter 1.36b)
Debt / EBITDA = -0.34 (Net Debt -508.6m / EBITDA 1.49b)
Debt / FCF = 18.04 (negative FCF - burning cash) (Net Debt -508.6m / FCF TTM -28.2m)
Total Stockholder Equity = 1.36b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.92% (Net Income 119.8m / Total Assets 6.24b)
RoE = 8.82% (Net Income TTM 119.8m / Total Stockholder Equity 1.36b)
RoCE = 46.32% (EBIT 1.09b / Capital Employed (Equity 1.36b + L.T.Debt 990.5m))
RoIC = 18.43% (NOPAT 859.2m / Invested Capital 4.66b)
WACC = 5.09% (E(1.95b)/V(1.99b) * Re(5.20%) + (debt cost/tax rate unavailable))
Discount Rate = 5.20% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 39.39 | Cagr: -0.02%
[DCF] Fair Price = unknown (Cash Flow -28.2m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.10 | # QB: 0
Revenue Correlation: 82.94 | Revenue CAGR: 55.03% | SUE: -1.52 | # QB: -5
EPS current Quarter (2026-09-30): EPS=0.08 | Chg30d=+60.00% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=0.36 | Chg30d=+6.92% | Revisions=+25% | GrowthEPS=+458.9% | GrowthRev=+96.1%
EPS next Year (2027-12-31): EPS=0.45 | Chg30d=+1.52% | Revisions=+25% | GrowthEPS=+24.1% | GrowthRev=-1.8%
[Analyst] Revisions Ratio: +50% (up=3, down=0)