(KOG) Kongsberg Gruppen ASA - OL
Sector: Industrials | Industry: Aerospace & Defense | Exchange: OL (Norway) | Market Cap: 263.707m NOK | Total Return: -23.6% in 12m
Avg Turnover: 405M
EPS Trend: 5.8%
Qual. Beats: 0
Rev. Trend: 83.1%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
Confidence
Kongsberg Gruppen ASA is a Norway-based industrial technology group specializing in defense, aerospace, and maritime systems. Its primary operations are divided into Kongsberg Defence & Aerospace, which develops missile systems, air defense hardware, and F-35 components, and Kongsberg Discovery, which focuses on subsea positioning and autonomous underwater vehicles. The company also maintains a digitalization segment catering to the energy and renewables sectors.
The business model relies heavily on long-term government defense contracts and niche maritime technology. In the aerospace and defense sector, companies often act as Tier 1 suppliers or prime contractors, benefiting from high barriers to entry due to complex regulatory requirements and significant research and development costs. Kongsbergs integration into the F-35 global supply chain provides a recurring revenue stream through both component manufacturing and long-term maintenance services.
Geographically, Kongsberg operates a global distribution network across Europe, the Americas, Asia, and Africa. Its subsea technology division serves both commercial research and military applications, utilizing autonomous surface and underwater vessels to capture data in harsh environments. Founded in 1814, the company is a cornerstone of the Norwegian industrial base, leveraging decades of engineering expertise to maintain its market position in specialized tactical communications and naval strike systems.
- Global defense spending surge increases NASAMS and Naval Strike Missile backlog
- F-35 program production ramp-up drives aerospace component revenue and margins
- Autonomous underwater vehicle demand scales within Kongsberg Discovery segment
- Maritime digitalization and offshore energy transition accelerate software recurring revenue
| Net Income: 7.36b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA -5.56 > 1.0 |
| NWC/Revenue: 24.42% < 20% (prev 12.52%; Δ 11.90% < -1%) |
| CFO/TA 0.23 > 3% & CFO 19.2b > Net Income 7.36b |
| Net Debt (-16.2b) to EBITDA (9.41b): -1.72 < 3 |
| Current Ratio: 1.20 > 1.5 & < 3 |
| Outstanding Shares: last quarter (879.6m) vs 12m ago -0.00% < -2% |
| Gross Margin: 71.75% > 18% (prev 82.10%; Δ -10.34% > 0.5%) |
| Asset Turnover: 58.44% > 50% (prev 71.30%; Δ -12.86% > 0%) |
| Interest Coverage Ratio: 11.14 > 6 (EBIT TTM 7.68b / Interest Expense TTM 689.0m) |
| A: 0.13 (Total Current Assets 66.1b - Total Current Liabilities 55.0b) / Total Assets 84.4b |
| B: 0.20 (Retained Earnings 17.1b / Total Assets 84.4b) |
| C: 0.10 (EBIT TTM 7.68b / Avg Total Assets 78.0b) |
| D: 0.40 (Book Value of Equity 23.9b / Total Liabilities 60.0b) |
| Altman-Z'' = 2.60 = A |
| DSRI: 0.50 (Receivables 3.85b/8.66b, Revenue 45.6b/51.0b) |
| GMI: 1.14 (GM 82.10% / 71.75%) |
| AQI: 0.65 (AQ_t 0.11 / AQ_t-1 0.17) |
| SGI: 0.89 (Revenue 45.6b / 51.0b) |
| TATA: -0.14 (NI 7.36b - CFO 19.2b) / TA 84.4b) |
| Beneish M = -3.61 (Cap -4..+1) = AAA |
As of June 20, 2026, the stock is trading at NOK 294.00 with a total of 1,469,089 shares traded.
Over the past week, the price has changed by -2.62%,
over one month by -0.24%,
over three months by -29.57% and
over the past year by -23.63%.
Kongsberg Gruppen ASA has no consensus analysts rating.
P/E Trailing = 55.1103
P/E Forward = 43.1034
P/S = 7.8789
P/B = 10.7767
P/EG = 2.2081
Revenue TTM = 45.6b NOK
EBIT TTM = 7.68b NOK
EBITDA TTM = 9.41b NOK
Long Term Debt = 1.00b NOK (from longTermDebt, last quarter)
Short Term Debt = 1.10b NOK (from shortLongTermDebt, last quarter)
Debt = 2.28b NOK (Leases only: 2.28b)
Net Debt = -16.2b NOK (calculated: Debt 2.28b - CCE 18.5b)
Enterprise Value = 248b NOK (264b + Debt 2.28b - CCE 18.5b)
Interest Coverage Ratio = 11.14 (Ebit TTM 7.68b / Interest Expense TTM 689.0m)
EV/FCF = 25.00x (Enterprise Value 248b / FCF TTM 9.90b)
FCF Yield = 4.00% (FCF TTM 9.90b / Enterprise Value 248b)
FCF Margin = 21.73% (FCF TTM 9.90b / Revenue TTM 45.6b)
Net Margin = 16.15% (Net Income TTM 7.36b / Revenue TTM 45.6b)
Gross Margin = 71.75% ((Revenue TTM 45.6b - Cost of Revenue TTM 12.9b) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 2.93 (Enterprise Value 248b / Total Assets 84.4b)
Interest Expense / Debt = 30.17% (Interest Expense 689.0m / Debt 2.28b)
Taxrate = 18.74% (1.42b / 7.58b)
NOPAT = 6.24b (EBIT 7.68b * (1 - 18.74%))
Current Ratio = 1.20 (Total Current Assets 66.1b / Total Current Liabilities 55.0b)
Debt / Equity = 0.10 (Debt 2.28b / totalStockholderEquity, last quarter 23.9b)
Debt / EBITDA = -1.72 (Net Debt -16.2b / EBITDA 9.41b)
Debt / FCF = -1.63 (Net Debt -16.2b / FCF TTM 9.90b)
Total Stockholder Equity = 21.2b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.44% (Net Income 7.36b / Total Assets 84.4b)
RoE = 34.70% (Net Income TTM 7.36b / Total Stockholder Equity 21.2b)
RoCE = 34.56% (EBIT 7.68b / Capital Employed (Equity 21.2b + L.T.Debt 1.00b))
RoIC = 21.70% (NOPAT 6.24b / Invested Capital 28.8b)
WACC = 6.24% (E(264b)/V(266b) * Re(6.08%) + D(2.28b)/V(266b) * Rd(30.17%) * (1-Tc(0.19)))
Discount Rate = 6.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -18.40 | Cagr: -0.18%
[DCF] Terminal Value 73.10% ; FCFF base≈10.9b ; Y1≈9.55b ; Y5≈7.71b
[DCF] Fair Price = 159.2 (EV 124b - Net Debt -16.2b = Equity 140b / Shares 879.6m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 5.78 | EPS CAGR: 1.03% | SUE: -0.17 | # QB: 0
Revenue Correlation: 83.14 | Revenue CAGR: 12.86% | SUE: -0.06 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.76 | Chg30d=+45.23% | Revisions=+0% | Analysts=3
EPS next Quarter (2026-09-30): EPS=1.82 | Chg30d=+9.77% | Revisions=+33% | Analysts=2
EPS current Year (2026-12-31): EPS=7.06 | Chg30d=+1.31% | Revisions=+33% | GrowthEPS=-21.9% | GrowthRev=-27.9%
EPS next Year (2027-12-31): EPS=10.96 | Chg30d=+4.19% | Revisions=+56% | GrowthEPS=+55.3% | GrowthRev=+43.9%
[Analyst] Revisions Ratio: +56%