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Subsea 7 S.A (0OGK) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Subsea 7 S.A NOK 743, price NOK 321, upside +131.8%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Energy · GB · ISIN LU0075646355

S7 Some data Sep 24, 2026

Subsea 7 S.A

0OGK · LSE

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value kr 742.75 · Strongly undervalued (+131.8%)
!Quality 56/100
!Weak Growth (revenue 3y −4.5 %/yr)
!Thin margins · 6.7% net margin (TTM)
✓Low debt
✓1.7% dividend yield · Cash covered
!Narrow moat 43/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 350.60 kr 49.47 Fair Value kr 742.75 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 49.47 – kr 350.60 · fair‑value band kr 594.26 – kr 1,000 · the kr 320.50 price screens below the kr 742.75 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Subsea 7 S.A. delivers offshore projects and services for the energy industry worldwide.

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Subsea 7 S.A. delivers offshore projects and services for the energy industry worldwide. The company offers subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore. It also provides remotely operated vehicles and tooling services to support exploration and production activities and to deliver full life-of-field services; procurement and installation of offshore wind turbine foundations and inter-array cables, as well as heavy lifting operations for renewables structures and heavy transportation services; and engineering and advisory services to clients in the oil and gas, renewables, and utilities industries. In addition, the company offers engineering, procurement, installation, and commissioning of subsea oil and gas systems in deep waters; fabrication, installation, extension, and refurbishment of fixed and floating platforms and associated pipelines in shallow water environments; inspection, and repair and maintenance services, management of subsea infrastructure, and remote intervention support; and carbon capture, utilization, and storage services. The company was incorporated in 1993 and is based in Luxembourg, Luxembourg.

Stock analysis

Subsea 7 S.A (0OGK) currently trades at kr 320.50, while our model-based Fair Value estimate is kr 742.75, implying the stock looks roughly 56.9% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of kr 778.00 per share, and 7 of the 9 models we run sit above the kr 320.50 price.

Bear case: the Dividend Discount group reads lowest at kr 78.07, and 2 of the 9 models stay below the price. Evidence for this calculation is medium.

Scenario range: kr 594.26 (bear) to kr 1,000 (bull), the price of kr 320.50 sits below 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 56/100 (solid quality), in the Energy sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Subsea 7 S.A reported revenue of $3.5B in FY2020 versus $3.6B in FY2016, a compound −0.7%/yr. Reported net income was −$1.1B in FY2020.

Key figures

Market cap 20.3B NOK (≈ $2.1B) · P/S ratio 2.77 · Dividend yield 1.7% · Net margin −31.5% · Return on equity 10.9% · Return on assets (EBIT) 0.0% · Operating margin 11.3% · Revenue (TTM) $7.3B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 9% below its 52-week high and 83% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Energy peers we cover trades at −32% fair-value upside, at 132%, 0OGK screens cheaper than that median.

Fair Value models

Bear kr 594.26 Fair Value kr 742.75 Bull kr 1,000
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
FCF DCF kr 731.59 kr 981.10 kr 1,429 77
Growth DCF kr 760.46 kr 1,001 kr 1,399 75
5Y Revenue Exit kr 565.05 kr 761.48 kr 1,046 70
All 9 models by family
DCF Models
FCF DCF kr 731.59 kr 981.10 kr 1,429 77
5Y Revenue Exit kr 565.05 kr 761.48 kr 1,046 70
10Y Revenue Exit kr 616.59 kr 766.49 kr 923.31 65
Dividend Discount
Gordon GGM kr 71.63 kr 78.07 kr 87.80 67
DDM Multi-Stage kr 71.63 kr 88.51 kr 111.56 65
Multiples
EV/Revenue kr 491.03 kr 680.22 kr 869.40 54
Asset-Based
NCAV (Graham) kr 320.47 kr 429.43 kr 640.94 54
Growth DCF
Growth DCF kr 760.46 kr 1,001 kr 1,399 75
Rev-Margin DCF kr 565.05 kr 778.00 kr 1,043 70

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Quality Score breakdown

Overall quality 56/100

Of which business quality 55 · Market factors (momentum, volatility) 77

Profitability 8
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 91
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. 29/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−5.2%
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.
−4.5%
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.
14.6% (2016) → −29.8% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

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Context: sector, industry, market

Values & ESG

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

Oil & gas

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SLB N.V SLB $48.72 $28.87 −41%
Baker Hughes Company BKR $55.62 $32.38 −42%
TechnipFMC plc FTI $70.99 $27.88 −61%
Tenaris S.A TEN €24.74 €19.30 −22%
Halliburton Company HAL $31.88 $21.56 −32%
Yantai Jereh Oilfield Services Group 002353 ¥116.02 ¥127.62 +10%
Saipem SpA SPM €4.30 €2.72 −37%
Gaztransport & Technigaz SA GTT €210.00 €231.00 +10%
China Oilfield Services Limited 601808 ¥12.12 ¥13.04 +8%
NOV Inc NOV $18.73 $8.59 −54%

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Cite: Fair Value Calculator (2026). "Subsea 7 S.A Fair Value". https://www.fairvalue-calculator.com/stock/0OGK

Frequently asked questions

Is Subsea 7 S.A (0OGK) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 742.75 versus a price of kr 320.50, about +132% upside (undervalued).
What is the fair value of 0OGK?
Our model-based fair value for Subsea 7 S.A is kr 742.75 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 320.50.
What is the quality score of 0OGK?
Subsea 7 S.A has a Quality Score of 56/100. 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 Subsea 7 S.A (0OGK)?
Our model-based price target is the fair value of kr 742.75 (as of Sep 24, 2026) from 9 valuation models. Cautious scenario kr 594.26, optimistic scenario kr 1,000. It is a calculation from audited fundamentals, not an analyst target.
What is the Subsea 7 S.A stock forecast for 2026?
Our models put fair value at kr 742.75, about +132% upside versus a price of kr 320.50 (undervalued). Cautious scenario kr 594.26, optimistic scenario kr 1,000. The calculation is refreshed regularly with new filings.
What is the revenue of Subsea 7 S.A (0OGK)?
Subsea 7 S.A reported trailing-twelve-month revenue of about $7.3B (latest available figure, as of Sep 24, 2026).
Does Subsea 7 S.A pay a dividend?
Subsea 7 S.A currently shows a dividend yield of about 1.67% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Subsea 7 S.A (0OGK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Subsea 7 S.A it is kr 742.75 per share (as of Sep 24, 2026), against a price of kr 320.50. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Subsea 7 S.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0OGK trades below its calculated fair value: price kr 320.50, fair value kr 742.75, a gap of about +132% (undervalued). 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 0OGK?
No. The price is what the market pays today (kr 320.50); the fair value is what the company's own numbers justify (kr 742.75). For Subsea 7 S.A the two are kr 422.25 per share apart. That gap is exactly why we show both numbers side by side.
How much is Subsea 7 S.A worth?
The market values Subsea 7 S.A at about 20.3B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 320.50; our models calculate a fair value of kr 742.75 per share.
What do the bullish and bearish scenarios say about 0OGK?
Our models span a range for Subsea 7 S.A: cautious scenario kr 594.26, base kr 742.75, optimistic kr 1,000 per share (as of Sep 24, 2026, price kr 320.50). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0OGK from its 52-week high?
Subsea 7 S.A trades at kr 320.50, about 9% below its 52-week high of kr 350.60 and 83% above the low of kr 175.14 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 742.75 is for.
Which stocks are comparable to Subsea 7 S.A?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, TechnipFMC plc, Tenaris S.A, 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 Subsea 7 S.A stock attractive at the current price?
The data as of Sep 24, 2026: price kr 320.50, calculated fair value kr 742.75 (+132%), Quality Score 56/100, from 9 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 0OGK calculated?
We run Subsea 7 S.A through 9 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 742.75, 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. Subsea 7 S.A currently trades 57 % below its own fair value, and the market average says nothing about that. 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 Subsea 7 S.A (0OGK)?
The closing price on Oct 2, 2026 was kr 320.50. Our model-based fair value is kr 742.75, about +132% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Subsea 7 S.A right now?
The price is below even our cautious bear case (kr 594.26). The market is more pessimistic than our downside scenario. Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Subsea 7 S.A

How large is the market capitalisation of Subsea 7 S.A (0OGK)?
The market capitalisation of Subsea 7 S.A is 20.3B NOK (≈ $2.1B). 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 Subsea 7 S.A (0OGK)?
The price-to-sales ratio of Subsea 7 S.A is 2.77 (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 Subsea 7 S.A (0OGK)?
The dividend yield of Subsea 7 S.A is 1.7%. 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 Subsea 7 S.A (0OGK)?
The net margin of Subsea 7 S.A is −31.5% (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 Subsea 7 S.A (0OGK)?
The return on equity (ROE) of Subsea 7 S.A is 10.9% (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 Subsea 7 S.A (0OGK)?
On an EBIT basis the return on assets of Subsea 7 S.A is 0.0% (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 Subsea 7 S.A (0OGK)?
The operating margin of Subsea 7 S.A is 11.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Subsea 7 S.A (0OGK)?
Revenue at Subsea 7 S.A is growing +17.0% versus a year earlier (3y avg −4.5%). 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 Subsea 7 S.A (0OGK)?
Earnings per share at Subsea 7 S.A are growing +467% versus a year earlier. How much earnings per share grew versus a year earlier.
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