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Aker ASA (0MJX) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Aker ASA NOK 265, price NOK 1,398, upside -81.0%, quality 72 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Industrials · GB · Home Norway · ISIN NO0010234552

AA Thin data Sep 24, 2026

Aker ASA

0MJX · LSE

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value kr 265.23 · Strongly overvalued (−81.0%)
✓Quality 72/100
!Weak Growth (revenue 3y −45.0 %/yr)
✓Highly profitable · 69.3% net margin (TTM)
!Moderate debt
·2.1% dividend yield · Safety not assessed
✓Wide moat 89/100
!Evidence only low, so the estimate is less certain
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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 1,618 kr 453.16 Fair Value kr 265.23 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range kr 453.16 – kr 1,618 · fair‑value band kr 265.23 – kr 439.94 · the kr 1,398 price screens above the kr 265.23 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Aker ASA operates as an industrial investment company in Norway, Europa, North America, South America, and internationally. The company operates in two segments: Listed Equity Investments and Unlisted Equity Investments. It is involved in exploration and production of oil and gas; provision of offshore supply vessels to global offshore energy markets.

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Aker ASA operates as an industrial investment company in Norway, Europa, North America, South America, and internationally. The company operates in two segments: Listed Equity Investments and Unlisted Equity Investments. It is involved in exploration and production of oil and gas; provision of offshore supply vessels to global offshore energy markets. In addition, the company develops and supplies krill-based products, and health and nutrition products; long-term property development and management; industrial software, artificial intelligence (AI) solutions and infrastructure, that improve efficiency and decision-making across capital-intensive industries; oil and gas production and energy services; renewable energy sector; and harvesting and processing of marine biomass for human, and animal nutrition. Further, it offers subscriptions to access the software-as-a-service (SaaS) applications. Additionally, the company engages in real estate activities. The company was founded in 1841 and is based in Lysaker, Norway. Aker ASA operates as a subsidiary of TRG Holding AS.

Stock analysis

Aker ASA (0MJX) currently trades at kr 1,398, while our model-based Fair Value estimate is kr 265.23, 81.0% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 475.40 per share, and 0 of the 8 models we run sit above the kr 1,398 price.

Bear case: the Growth DCF group reads lowest at kr 83.73, and 8 of the 8 models stay below the price. Evidence for this calculation is low.

Scenario range: kr 265.23 (bear) to kr 439.94 (bull), the price of kr 1,398 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 72/100 (solid quality), in the Industrials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Aker ASA reported revenue of 6.8B NOK in FY2020 versus 43.3B NOK in FY2016, a compound −37.0%/yr. Reported net income was 1.4B NOK in FY2020, compounding −43.9%/yr from FY2016.

Key figures

Market cap 54.6B NOK (≈ $5.7B) · P/S ratio 1.35 · Dividend yield 2.1% · Net margin 21.0% · Return on equity 45.1% · Return on assets (EBIT) 1.3% · Operating margin 81.8% · Revenue growth (YoY) +361%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 14% below its 52-week high and 109% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 2% fair-value upside, at −81%, 0MJX screens richer than that median.

Fair Value models

Bear kr 265.23 Fair Value kr 265.23 Bull kr 439.94
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income kr 373.72 kr 401.61 kr 443.19 73
Growth DCF n/a kr 83.73 kr 332.54 71
Gordon GGM kr 196.26 kr 213.89 kr 240.55 67
All 11 models by family
DCF Models
5Y P/E Exit n/a n/a kr 163.14 64
10Y P/E Exit n/a n/a kr 64.59 58
Earnings-Based
Graham-Dodd kr 248.67 kr 303.93 kr 341.92 65
Dividend Discount
Gordon GGM kr 196.26 kr 213.89 kr 240.55 67
DDM Multi-Stage kr 196.26 kr 242.51 kr 305.65 65
Multiples
P/E Multiple kr 356.55 kr 475.40 kr 594.25 63
P/B Multiple kr 466.26 kr 621.68 kr 777.10 55
Asset-Based
NCAV (Graham) kr 223.26 kr 299.17 kr 446.52 54
Growth DCF
Growth DCF n/a kr 83.73 kr 332.54 71
Rev-Margin DCF n/a n/a kr 65.08 66
Economic Profit
Residual Income kr 373.72 kr 401.61 kr 443.19 73

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Quality Score breakdown

Overall quality 72/100

Of which business quality 62 · Market factors (momentum, volatility) 84

Profitability 34
Margins and returns on capital today
Quality Growth 90
Are margins and returns improving?
Cashflow 80
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 83
Price trend over the last 3–12 months (market factor)
52W Momentum 88
Distance to the 52-week high (market factor)

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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. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+21.2%
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.
−45.0%
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.
3.6% (2016) → −9.1% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

0MJX screens overvalued: fair value 81% below the price. Compare with 3M Company →

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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 · 360 stocks

Beats the industry median on 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 72 · Top 25%
Fair Value upside −72.7% · Bottom 25%
Profitability
Return on equity (TTM) 45.1% · Top 25%
Return on assets 15.9% · Top 25%
Net margin (TTM) 69.3% · Top 25%
Operating margin (TTM) 81.8% · Top 25%
Growth and dividend
Revenue growth 360.5% · Top 25%
Dividend yield (TTM) 2.1% · Below median
Balance sheet
Debt / equity 1.42× · Highest 25%

Valuation Multiplesvs Conglomerates median · lower = cheaper

P/B 0.34× · Cheapest 25%
P/S (TTM) 0.15× · Cheapest 25%
EV/EBITDA 1.1× · Cheapest 25%

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

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Aker ASA · Fair Value
kr 265.23 −81%Fair Value
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Cite: Fair Value Calculator (2026). "Aker ASA Fair Value". https://www.fairvalue-calculator.com/stock/0MJX

Frequently asked questions

Is Aker ASA (0MJX) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 265.23 versus a price of kr 1,398, about −81% upside (overvalued).
What is the fair value of 0MJX?
Our model-based fair value for Aker ASA is kr 265.23 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 1,398.
What is the quality score of 0MJX?
Aker ASA has a Quality Score of 72/100. 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 Aker ASA (0MJX)?
Our model-based price target is the fair value of kr 265.23 (as of Sep 24, 2026) from 11 valuation models. Cautious scenario kr 265.23, optimistic scenario kr 439.94. It is a calculation from audited fundamentals, not an analyst target.
What is the Aker ASA stock forecast for 2026?
Our models put fair value at kr 265.23, about −81% upside versus a price of kr 1,398 (overvalued). Cautious scenario kr 265.23, optimistic scenario kr 439.94. The calculation is refreshed regularly with new filings.
Does Aker ASA pay a dividend?
Aker ASA currently shows a dividend yield of about 2.07% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Aker ASA (0MJX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aker ASA it is kr 265.23 per share (as of Sep 24, 2026), against a price of kr 1,398. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Aker ASA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0MJX trades above its calculated fair value: price kr 1,398, fair value kr 265.23, a gap of about −81% (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 0MJX?
No. The price is what the market pays today (kr 1,398); the fair value is what the company's own numbers justify (kr 265.23). For Aker ASA the two are kr 1,133 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aker ASA worth?
The market values Aker ASA at about 54.6B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 1,398; our models calculate a fair value of kr 265.23 per share.
What do the bullish and bearish scenarios say about 0MJX?
Our models span a range for Aker ASA: cautious scenario kr 265.23, base kr 265.23, optimistic kr 439.94 per share (as of Sep 24, 2026, price kr 1,398). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Aker ASA (0MJX)?
Balance-sheet figures for Aker ASA (as of Sep 24, 2026): return on equity 45.1%, debt of 1.42 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is 0MJX from its 52-week high?
Aker ASA trades at kr 1,398, about 14% below its 52-week high of kr 1,618 and 109% above the low of kr 668.29 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 265.23 is for.
Which stocks are comparable to Aker ASA?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, CITIC Limited, Swire Pacific 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 Aker ASA stock attractive at the current price?
The data as of Sep 24, 2026: price kr 1,398, calculated fair value kr 265.23 (−81%), Quality Score 72/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0MJX calculated?
We run Aker ASA through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 265.23, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Aker 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 Aker ASA (0MJX)?
The closing price on Oct 2, 2026 was kr 1,398. Our model-based fair value is kr 265.23, about −81% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aker ASA right now?
A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (kr 439.94). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Aker ASA

How large is the market capitalisation of Aker ASA (0MJX)?
The market capitalisation of Aker ASA is 54.6B NOK (≈ $5.7B). 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 Aker ASA (0MJX)?
The price-to-sales ratio of Aker ASA is 1.35 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Aker ASA (0MJX)?
The dividend yield of Aker ASA is 2.1%. 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 Aker ASA (0MJX)?
The net margin of Aker ASA is 21.0% (fiscal year 2020). 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 Aker ASA (0MJX)?
The return on equity (ROE) of Aker ASA is 45.1% (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 Aker ASA (0MJX)?
On an EBIT basis the return on assets of Aker ASA is 1.3% (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 Aker ASA (0MJX)?
The operating margin of Aker ASA is 81.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aker ASA (0MJX)?
Revenue at Aker ASA is growing +361% versus a year earlier (3y avg −45.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
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