DOFG Stock Analysis: DOF ASA | OL
Engineering & Construction | OL, Norway | Market Cap: 31.918m NOK | 12M Return: 45.8% | NO0012851874 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 37.2M
Qual. Beats: 0
Rev. Trend: -20.6%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 3.3 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.
DOF Group ASA is a Norwegian offshore vessel operator headquartered in Storebø, founded in 1981. The company owns and operates a fleet of specialized offshore and subsea vessels, including platform supply vessels (PSVs), construction support vessels (CSVs), and anchor handling tug supply vessels (AHTSs), alongside a large inventory of remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs).
The companys business is organized into four segments: Shipowning, DOF Subsea regions, Norskan Offshore, and DOFCON JV. It delivers a broad range of services across the offshore project lifecycle, including construction and installation, decommissioning, inspection, maintenance and repair (IMR), diving (both saturation and air), survey and positioning, and towing and mooring.
DOF has expanded into the offshore wind segment, offering services such as turbine integration and marshalling, dynamic and offshore cable installation and repair, anchor and mooring installation, and subsea construction for fixed and floating wind projects. The company also provides crewing, maintenance, mobilization, and new building services.
Operations span more than 15 countries across regions including Brazil, the United States, Australia, the United Kingdom, Norway, Angola, West Africa, Canada, Singapore, and the Philippines. DOF Group is listed on the Oslo Stock Exchange (ticker: DOFG) and is classified under the GICS Construction & Engineering sub-industry within the Industrials sector.
- Brazil deepwater contract backlog lifts PSV and AHTS utilization
- Offshore wind installation demand drives subsea vessel backlog growth
- Vessel day rates rise as North Sea and Brazil activity recovers
| Net Income: 1.44b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 10.75 > 1.0 |
| NWC/Revenue: 7.17% < 20% (prev 25.56%; Δ -18.39% < -1%) |
| CFO/TA 0.40 > 3% & CFO 1.72b > Net Income 1.44b |
| Net Debt (-181.0m) to EBITDA (2.16b): -0.08 < 3 |
| Current Ratio: 1.74 > 1.5 & < 3 |
| Outstanding Shares: last quarter (246.3m) vs 12m ago 0.0% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 29.32% > 50% (prev 33.10%; Δ -3.79% > 0%) |
| Interest Coverage Ratio: 6.32 > 6 (EBIT TTM 1.97b / Interest Expense TTM 311.2m) |
| A: 0.11 (Total Current Assets 1.08b - Total Current Liabilities 620.0m) / Total Assets 4.27b |
| B: 0.18 (Retained Earnings 785.0m / Total Assets 4.27b) |
| C: 0.09 (EBIT TTM 1.97b / Avg Total Assets 21.8b) |
| D: 0.96 (Book Value of Equity 2.09b / Total Liabilities 2.17b) |
| Altman-Z'' = 2.92 = A |
| DSRI: 2.37 (Receivables 521.0m/447.0m, Revenue 6.39b/13.0b) |
| GMI: 0.60 (GM 60.18% / 100.0%) |
| AQI: 0.22 (AQ_t 0.15 / AQ_t-1 0.70) |
| SGI: 0.49 (Revenue 6.39b / 13.0b) |
| TATA: -0.06 (NI 1.44b - CFO 1.72b) / TA 4.27b) |
| Beneish M = -3.09 (Cap -4..+1) = AA |
As of October 09, 2026, the stock is trading at NOK 129.00 with a total of 234,805 shares traded. Over the past week, the price has changed by +2.22%, over one month by -2.86%, over three months by +7.83% and over the past year by +45.80%.
Current recommended Stop Loss: 124.80 (which is 3.3% or 1.5 ATR below the current price).
DOF ASA has no consensus analysts rating.
Market Cap USD = 3.33b (31.9b NOK * 0.10442 NOK.USD)
P/E Trailing = 6.9268
P/E Forward = 7.8309
P/S = 14.7836
P/B = 1.6372
Revenue TTM = 6.39b USD
EBIT TTM = 1.97b USD
EBITDA TTM = 2.16b USD
Long Term Debt = 1.43b USD (from longTermDebt, last quarter)
Short Term Debt = 128.0m USD (from shortLongTermDebt, last quarter)
Debt = 162.0m USD (Leases only: 162.0m)
Net Debt = -181.0m USD (calculated: Debt 162.0m - CCE 343.0m)
Enterprise Value = 3.15b USD (3.33b + Debt 162.0m - CCE 343.0m)
Interest Coverage Ratio = 6.32 (Ebit TTM 1.97b / Interest Expense TTM 311.2m)
EV/FCF = 6.46x (Enterprise Value 3.15b / FCF TTM 488.0m)
FCF Yield = 15.48% (FCF TTM 488.0m / Enterprise Value 3.15b)
FCF Margin = 7.64% (FCF TTM 488.0m / Revenue TTM 6.39b)
Net Margin = 22.61% (Net Income TTM 1.44b / Revenue TTM 6.39b)
Gross Margin = unknown ((Revenue TTM 6.39b - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = 0.74 (Enterprise Value 3.15b / Total Assets 4.27b)
Interest Expense / Debt = 192.1% (Interest Expense 311.2m / Debt 162.0m)
Taxrate = 4.86% (85.0m / 1.75b)
NOPAT = 1.87b (EBIT 1.97b * (1 - 4.86%))
Current Ratio = 1.74 (Total Current Assets 1.08b / Total Current Liabilities 620.0m)
Debt / Equity = 0.08 (Debt 162.0m / totalStockholderEquity, last quarter 2.09b)
Debt / EBITDA = -0.08 (Net Debt -181.0m / EBITDA 2.16b)
Debt / FCF = -0.37 (Net Debt -181.0m / FCF TTM 488.0m)
Total Stockholder Equity = 6.48b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.63% (Net Income 1.44b / Total Assets 4.27b)
RoE = 22.29% (Net Income TTM 1.44b / Total Stockholder Equity 6.48b)
RoCE = 24.88% (EBIT 1.97b / Capital Employed (Equity 6.48b + L.T.Debt 1.43b))
RoIC = 56.28% (NOPAT 1.87b / Invested Capital 3.33b)
WACC = 7.43% (E(3.33b)/V(3.49b) * Re(7.79%) + (debt cost/tax rate unavailable))
Discount Rate = 7.79% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 87.98 | Cagr: 16.77%
[DCF] Terminal Value 77.97% ; FCFF base≈402.0m ; Y1≈460.8m ; Y5≈678.2m
[DCF] Fair Price = 42.18 (EV 10.2b - Net Debt -181.0m = Equity 10.4b / Shares 246.3m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -20.63 | Revenue CAGR: -5.08% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.62 | Chg30d=+0.00% | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=1.77 | Chg30d=+0.00% | Revisions=+29% | GrowthEPS=-5.8% | GrowthRev=+13.3%
EPS next Year (2027-12-31): EPS=1.81 | Chg30d=+0.00% | Revisions=+17% | GrowthEPS=+2.1% | GrowthRev=-1.8%
[Analyst] Revisions Ratio: +30% (up=5, down=2)