Reach Subsea (REACH) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Reach Subsea stock NOK 4.93, price NOK 5.98, that is 17.5% below the price, quality 36 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Reach Subsea
REACH · OLOur calculation puts a fair price 18% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range kr 2.05 – kr 9.18 · fair‑value band kr 3.46 – kr 6.41 · the kr 5.98 price screens above the kr 4.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Company profile
Reach Subsea ASA provides subsea services in Norway and internationally. It operates in two segments, Oil & Gas and Renewable/Other.
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The company offers subsea services, including engineering solutions and project management for offshore operations; inspection, maintenance, and repair services, such as structural inspections, WROV operation, SCM changeout, scale squeeze operations, water injection, ready for operation, subsea equipment maintenance, repair, commissioning, and boulder clearance; asset integrity and pipeline inspection services; and construction support services, including seabed intervention, boulder clearance, touchdown monitoring, and pre-lay and post-lay surveys, as well as vessel, personnel, survey, and on demand engineering.
It also provides geophysical, geotechnical, and environmental survey solutions for site survey, pipeline/cable route survey, ROV, seabed mapping, and pipeline inspection; surface and subsea positioning solutions to support marine construction projects; specialist survey and positioning services to support international marine construction projects, offshore cable operations, rig and mooring operations, and seabed surveys; and support services for offshore power, communication, and umbilical cables, as well as supporting operation and maintenance/inspection, repair and maintenance services.
In addition, the company offers geophysical monitoring solutions for hydrocarbon producing fields offshore, including 4D gravity, seafloor subsidence monitoring, depth watch for seismic nodes, injection integrity monitoring, well drilling, and real time seismic monitoring services; and environmental monitoring services that include multi-physical monitoring services.
The company was formerly known as Transit Invest ASA and changed its name to Reach Subsea ASA in December 2012. Reach Subsea ASA was incorporated in 1909 and is headquartered in Haugesund, Norway.
Stock analysis
Reach Subsea (REACH) currently trades at kr 5.98, while our model-based Fair Value estimate is kr 4.93, 18% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 35.56 per share, and 15 of the 26 models we run sit above the kr 5.98 price.
Bear case: the Asset-Based group reads lowest at kr 2.23, and 11 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 3.46 (bear) to kr 6.41 (bull), the price of kr 5.98 sits inside 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 36/100 (below-average quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Reach Subsea reported revenue of 2.7B NOK in FY2025 versus 673M NOK in FY2021, a compound +41.2%/yr. Reported net income was 108M NOK in FY2025, compounding +3.6%/yr from FY2021.
Key figures
Market cap 2.0B NOK (≈ $207M) Micro · P/S ratio 0.71 · EPS (TTM) kr −0.2400 · Dividend yield 2.8% · Net margin −2.7% · Return on equity −6.3% · Return on assets (EBIT) 9.9% (5-year average) · Operating margin 19.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 27% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −32% fair-value upside, at −18%, REACH screens cheaper than that median.
Fair Value models
All 26 models by family
The fair value above starts from this blend and is adjusted for a cyclical peak year.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
REACH screens overvalued: fair value 18% below the price. Compare with SLB N.V →
Compare Reach Subsea with another stock
Price, fair value, quality and upside side by side.
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.Oil & Gas Equipment & Services · 166 stocks
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Energy sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Revenue growth by industry
- PEG ratio by industry
- PEG screener for stocks with fair value
- Undervalued stocks: Energy
- Valuation of the Norway market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Gaztransport & Technigaz SA GTT | €181.30 | €199.62 | +10% | vs REACH |
| Yantai Jereh Oilfield Services Group 002353 | ¥79.44 | ¥87.38 | +10% | vs REACH |
| China Oilfield Services Limited 601808 | ¥12.75 | ¥13.04 | +2% | vs REACH |
| Subsea 7 S.A SUBC | kr 304.80 | kr 257.37 | −16% | vs REACH |
| Halliburton Company HAL | $31.84 | $21.72 | −32% | vs REACH |
| Baker Hughes Company BKR | $47.87 | $32.37 | −32% | vs REACH |
| Tenaris S.A TEN | €26.64 | €17.68 | −34% | vs REACH |
| Saipem SpA SPM | €4.24 | €2.72 | −36% | vs REACH |
| SLB N.V SLB | $49.92 | $29.03 | −42% | vs REACH |
| TechnipFMC plc FTI | $63.52 | $28.12 | −56% | vs REACH |
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Frequently asked questions
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Key figures of Reach Subsea
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