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Arendals Fossekompani ASA (AFK) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Arendals Fossekompani ASA stock NOK 149, price NOK 191, that is 21.8% below the price, quality 42 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Industrials NO · ISIN NO0003572802

AF Arendals Fossekompani ASA logo Thin data Nov 10, 2026

Arendals Fossekompani ASA

AFK · OL
Expensive, weak quality

Our calculation puts a fair price 22% below what the stock costs today.

Low debt
Upbeat coverage
Quality 42/100
Mixed Growth (revenue 5y +0.5 %/yr in NOK)
2.1% dividend yield · Watch coverage
Fair value kr 149.03 · Overvalued
Loss-making · -4.2% net margin (TTM)
Negative free cash flow
Trails peers (1/13)
Narrow moat 25/100 · thin data
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

kr 451.46 kr 116.21 Fair Value kr 149.03 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range kr 116.21 – kr 451.46 · fair‑value band kr 111.77 – kr 186.29 · the kr 190.50 price screens above the kr 149.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.

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Company profile

Arendals Fossekompani ASA, an industrial investment company, provides cyber secure satellite and mobile communications in Norway, Europe, Asia, and North America. It operates through AFK Vannkraft, Group Management, NSSL Global, ENRX, Tekna, AFK Eiendom, and Alytic segments.

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It offers voice and data services, and IT support services; and airtime, projects, hardware, and service to the maritime sector, the military and government sector, large international corporations, and the energy sector.

The company also generates power through hydropower plants; and owns a portfolio of companies.

In addition, it offers wireless induction charging solutions to the automotive, renewable energy/wind energy, pipe fabrication, electronics, and cable and mechanical engineering; materials and plasma systems; and high-purity metal powders for applications, such as 3D printing in the aerospace, medical and consumer electronics sectors, as well as optimized induction plasma systems for industrial research and production.

Further, the company is involved in property investments. Additionally, it owns and develops various residential and commercial properties. Arendals Fossekompani ASA was founded in 1896 and is headquartered in Arendal, Norway.

Stock analysis

Arendals Fossekompani ASA (AFK) currently trades at kr 190.50, while our estimate is kr 149.03, 22% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: kr 111.77 (bear) to kr 186.29 (bull), the price of kr 190.50 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 42/100 (below-average quality), in the Industrials sector.

Mixed Growth: Spin-off in 2017: revenue and profit before it include the divested business. Growth is measured afresh from 2017.

Arendals Fossekompani ASA reported revenue of 3.7B NOK in FY2025 versus 4.2B NOK in FY2021, a compound −3.1%/yr. Reported net income was −56.0M NOK in FY2025.

Key figures

Market cap 10.5B NOK (≈ $1.1B) Small · P/S ratio 2.76 · EPS (TTM) kr 8.70 · Dividend yield 2.1% · Net margin −1.5% · Return on equity −3.5% · Return on assets (EBIT) 4.3% (5-year average) · Operating margin 17.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (low confidence).

What moves the price

The share trades about 4% below its 52-week high and 49% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 8% fair-value upside, at −22%, AFK screens richer than that median.

Fair Value

Bear kr 111.77 Fair Value kr 149.03 Bull kr 186.29
Price kr 190.50 · Downside -21.8%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 42/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 22
How much profit the company makes from its sales and capital
Quality Growth 26
Are margins and returns getting better?
Cashflow 16
Do the profits arrive as real cash?
Financial strength 67
Debt, balance sheet and risk of trouble
Investment 57
Does it invest with discipline instead of growing at any price?
Low Volatility 64
How calm the share price moves, does not count
Price momentum 58
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 85
Distance to the 52-week high, does not count
New shares 81
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 55/100
Spin-off in 2017: revenue and profit before it include the divested business. Growth is measured afresh from 2017.
Revenue growth 1 year
−14.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.5%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
5.5% (2020) → 0.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

AFK screens overvalued: fair value 22% below the price. Compare with 3M Company →

Earlier news

News mood ⓘNews mood, the average tone of recent news (11 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Conglomerates · 349 stocks

Beats the industry median on 1/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside −21.8% · Below median
Profitability
Return on assets −0.7% · Bottom 25%
Net margin (12 months) −4.2% · Bottom 25%
Operating margin (12 months) 17.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) −1.3% · Below median
Dividend yield (12 months) 2.1% · Below median
Balance sheet
Debt / equity 0.22× · Above median

Valuation Multiplesvs Conglomerates median · lower = cheaper

P/B 2.14× · Priciest 25%
P/S (12 months) 2.87× · Priciest 25%
EV/EBITDA 14.8× · Pricier than median
PEG 2.09× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)4 · sector 41
FUTURE (revenue growth)0 · sector 32
PAST (return on equity)0 · sector 24
HEALTH (low debt)89 · sector 90
DIVIDEND (yield)42 · sector 45

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Conglomerates stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
CITIC Limited 0267 HK$12.89 HK$25.74 +100% vs AFK
SK Inc 034730 480,000 KRW 632,391 KRW +32% vs AFK
CK Hutchison Holdings 0001 HK$71.95 HK$84.32 +17% vs AFK
Jardine Matheson Holdings J36 $61.61 $66.74 +8% vs AFK
Honeywell International Inc HON $228.22 $245.42 +8% vs AFK
SGH Limited SGH A$43.35 A$34.87 −20% vs AFK
Keppel Ltd BN4 9.76 SGD 3.87 SGD −60% vs AFK
3M Company MMM $189.37 $73.02 −61% vs AFK
Swire Pacific Limited 0019 HK$113.40 HK$27.75 −76% vs AFK
Doosan Corporation 000150 636,000 KRW 95,752 KRW −85% vs AFK

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Arendals Fossekompani ASA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Arendals Fossekompani ASA Fair Value". https://www.fairvalue-calculator.com/stock/AFK

Frequently asked questions

Is Arendals Fossekompani ASA (AFK) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is kr 149.03 versus a price of kr 190.50, about 22% lower (overvalued).
What is the fair value of AFK?
Our estimate for Arendals Fossekompani ASA is kr 149.03 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 190.50.
What is the quality score of AFK?
Arendals Fossekompani ASA has a Quality Score of 42/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Arendals Fossekompani ASA (AFK)?
Our calculated price target is the estimate of kr 149.03 (as of Nov 10, 2026). Cautious scenario kr 111.77, optimistic scenario kr 186.29. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Arendals Fossekompani ASA stock forecast for 2026?
Our estimate puts fair value at kr 149.03, about 22% lower versus a price of kr 190.50 (overvalued). Cautious scenario kr 111.77, optimistic scenario kr 186.29. The calculation is refreshed regularly with new filings.
What is the revenue of Arendals Fossekompani ASA (AFK)?
Arendals Fossekompani ASA reported trailing-twelve-month revenue of about 3.6B NOK (latest available figure, as of Nov 10, 2026).
Does Arendals Fossekompani ASA pay a dividend?
Arendals Fossekompani ASA currently shows a dividend yield of 2.10% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of Arendals Fossekompani ASA (AFK) and when is the ex-dividend date?
Arendals Fossekompani ASA pays a dividend of kr 4.00 per share a year, a dividend yield of 2.1%. The last ex-dividend date was May 13, 2026. A dividend has been paid every year since at least 1994. The payout ratio is 46.0% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Arendals Fossekompani ASA (AFK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Arendals Fossekompani ASA it is kr 149.03 per share (as of Nov 10, 2026), against a price of kr 190.50.
Is Arendals Fossekompani ASA stock overvalued or undervalued in 2026?
As of Nov 10, 2026, AFK trades above its calculated fair value: price kr 190.50, fair value kr 149.03, a gap of about −22% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AFK?
No. The price is what the market pays today (kr 190.50); the fair value is what the company's own numbers justify (kr 149.03). For Arendals Fossekompani ASA the two are kr 41.47 per share apart. That gap is exactly why we show both numbers side by side.
How much is Arendals Fossekompani ASA worth?
The market values Arendals Fossekompani ASA at about 10.5B NOK (market capitalisation, as of Nov 10, 2026). Per share that is kr 190.50; our models calculate a fair value of kr 149.03 per share.
What do the bullish and bearish scenarios say about AFK?
Our models span a range for Arendals Fossekompani ASA: cautious scenario kr 111.77, base kr 149.03, optimistic kr 186.29 per share (as of Nov 10, 2026, price kr 190.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of AFK?
The PEG ratio of Arendals Fossekompani ASA is 2.09 (P/E divided by earnings growth, as of Nov 10, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Arendals Fossekompani ASA (AFK)?
Balance-sheet figures for Arendals Fossekompani ASA (as of Nov 10, 2026): return on equity −3.5%, debt of 0.22 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is AFK from its 52-week high?
Arendals Fossekompani ASA trades at kr 190.50, about 4% below its 52-week high of kr 197.83 and 49% above the low of kr 127.95 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of kr 149.03 is for.
Which stocks are comparable to Arendals Fossekompani ASA?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, Swire Pacific Limited, CITIC Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Arendals Fossekompani ASA stock attractive at the current price?
The data as of Nov 10, 2026: price kr 190.50, calculated fair value kr 149.03 (−22%), Quality Score 42/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Arendals Fossekompani ASA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Arendals Fossekompani ASA (AFK)?
The closing price on Nov 10, 2026 was kr 190.50. Our estimate is kr 149.03, about 22% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Arendals Fossekompani ASA right now?
The price sits above even our optimistic bull case (kr 186.29). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Arendals Fossekompani ASA

How large is the market capitalisation of Arendals Fossekompani ASA (AFK)?
The market capitalisation of Arendals Fossekompani ASA is 10.5B NOK (≈ $1.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Arendals Fossekompani ASA (AFK)?
The price-to-sales ratio of Arendals Fossekompani ASA is 2.76 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Arendals Fossekompani ASA (AFK)?
Earnings per share at Arendals Fossekompani ASA are kr 8.70. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Arendals Fossekompani ASA (AFK)?
The dividend yield of Arendals Fossekompani ASA is 2.1% (payout 46.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Arendals Fossekompani ASA (AFK)?
The net margin of Arendals Fossekompani ASA is −1.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Arendals Fossekompani ASA (AFK)?
The return on equity (ROE) of Arendals Fossekompani ASA is −3.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Arendals Fossekompani ASA (AFK)?
On an EBIT basis the return on assets of Arendals Fossekompani ASA is 4.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Arendals Fossekompani ASA (AFK)?
The operating margin of Arendals Fossekompani ASA is 17.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Arendals Fossekompani ASA (AFK)?
Revenue at Arendals Fossekompani ASA is growing −1.3% versus a year earlier (3y avg −6.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Arendals Fossekompani ASA (AFK)?
Earnings per share at Arendals Fossekompani ASA are growing +315% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Arendals Fossekompani ASA (AFK) generate?
The free cash flow of Arendals Fossekompani ASA is −56.0M NOK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Arendals Fossekompani ASA (AFK) carry?
The net debt of Arendals Fossekompani ASA is 4.0M NOK (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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