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ADS Maritime Holding Plc (ADS) Fair Value & Analysis

Industrials · NO · Market cap 189M NOK

AM ADS Maritime Holding Plc ADS · OL
Pricekr 2.60
Fair Valuekr 2.03
Upside-21.9%
Quality43/100
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Risks

!Trades 28% ABOVE our fair value of kr 2.03
!Weak Growth (revenue 5y −65.5 %/yr)
!Low debt · negative free cash flow
!Mixed vs. peers (4/10)
Weak Growth (revenue 5y −65.5 %/yr)
Low debt · negative free cash flow
Mixed vs. peers (4/10)
Narrow moat 35/100
Evidence: Medium Range kr 1.95 – kr 2.53 Share as image

Fair value as of: Aug 27, 2026

From 10 valuation models · updated today

Fair value updated Aug 27, 2026, revised from kr 0.2200 to kr 2.03 (+822.7%) since Aug 13, 2026.

Below-average quality, and trading another 28% above our fair value.

What runs behind every stock

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

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What matters now

  • The price sits above even our optimistic bull case (kr 2.53). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

kr 2.68 kr 1.40 Fair Value kr 2.03 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range kr 1.40 – kr 2.68 · fair‑value band kr 1.95 – kr 2.53 · the kr 2.60 price screens above the kr 2.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

ADS Maritime Holding Plc (ADS) currently trades at kr 2.60, while our model-based Fair Value estimate is kr 2.03, implying the stock looks roughly 21.9% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Trailing-twelve-month revenue stands at 349K NOK. Revenue grew 68.6% year over year. It earns a return on equity of 3.3%. The balance sheet holds a net cash position of 3.4M NOK. Fundamentals as of Aug 27, 2026

Our scenario range runs from kr 1.95 (bear case) to kr 2.53 (bull case); at kr 2.60, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 42% fair-value upside, at -22%, ADS screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (kr 0.1800 to kr 8.38). Read the values as a conservative anchor, not as a price target.
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. Evidence
Highest evidence
Residual Income kr 0.2100 kr 0.2000 kr 0.1600 76
Gordon GGM kr 5.00 kr 8.38 kr 10.88 70
Growth-Adj P/E kr 0.3300 kr 0.4700 kr 0.6100 68
All 10 models by family
Earnings-Based
Graham-Dodd kr 0.0700 kr 0.4900 kr 0.6900 54
Lynch FV kr 0.2500 kr 0.3600 kr 0.4700 50
PEG = 1.0 kr 0.2500 kr 0.3600 kr 0.4700 46
Dividend Discount
Gordon GGM kr 5.00 kr 8.38 kr 10.88 70
DDM Multi-Stage kr 5.00 kr 7.95 kr 9.01 61
Multiples
P/E Multiple kr 0.1600 kr 0.2200 kr 0.2700 63
P/B Multiple kr 0.1300 kr 0.1800 kr 0.2200 55
Asset-Based
NCAV (Graham) kr 0.1600 kr 0.2100 kr 0.3200 50
Economic Profit
Residual Income kr 0.2100 kr 0.2000 kr 0.1600 76
Growth Earnings
Growth-Adj P/E kr 0.3300 kr 0.4700 kr 0.6100 68

Widest divergence: Dividend Discount (kr 7.95) versus Multiples (kr 0.1800). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 26.0
Net margin 210% TTM
Return on equity 3.3% TTM
Return on assets -2.0% TTM
Operating margin 19.8% TTM
EPS (TTM) kr 0.1000
More key figures
Growth
Revenue (TTM) 349K NOK TTM
Revenue growth (YoY) +68.6%
EPS growth (YoY) +52.2%
Balance sheet & cash flow
Free cash flow −1.4M NOK FY2025
Net cash 3.4M NOK FY2024

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 44 · Market factors (momentum, volatility) 49

Profitability 15
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

ADS Maritime Holding Plc operates as a shipping investment company in Cyprus. It holds investments in vessels, including shuttle tankers, MR tankers, and others. The company was incorporated in 2018 and is based in Limassol, Cyprus.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ADS Maritime Holding Plc reported revenue of kr 0 in FY2025 versus kr 23.0K in FY2021. Reported net income was kr 733K in FY2025.

Growth Quality 4/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2024)
207K NOK
Latest YoY
−84.8%
Avg. revenue growth/yr (5Y) 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.
−65.5%
Avg. revenue growth/yr (6Y) 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.
−53.4%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−58.4% (-58.4 + 0.0)
Revenue
FY21 kr 23.0K
FY22 kr 150K
FY23 kr 1.4M
FY24 kr 207K
FY25 kr 0
Net income
FY21 −kr 195K
FY22 kr 2.0M
FY23 kr 3.7M
FY24 kr 1.7M
FY25 kr 733K

ADS screens 22% overvalued. Compare with Adani Ports and Special Economic Zone Limited →

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Cite: Fair Value Calculator (2026). "ADS Maritime Holding Plc Fair Value". https://www.fairvalue-calculator.com/stock/ADS.OL

Peer Group

Marine Shipping · 240 stocks

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.

Quality Score 43 · Bottom 25%
Fair Value upside −22% · Below median
Return on equity (TTM) 3% · Below median
Return on assets -2% · Bottom 25%
Operating margin (TTM) 20% · Above median
Revenue growth 69% · Top 25%

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 26.0× · Pricier than 75% of peers
P/B 0.89× · Cheaper than median
P/S (TTM) 57.96× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE4 · sector 29
FUTURE100 · sector 22
PAST13 · sector 27
HEALTH100 · sector 89
DIVIDEND0 · sector 53

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 Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,658 ₹1,041 -37%
A.P. Møller - Mærsk A/S MAERSKA kr 20,040 kr 20,077 +0%
COSCO SHIPPING Holdings 601919 ¥15.25 ¥49.90 +227%
Hapag-Lloyd Aktiengesellschaft, HLAG €134.30 €88.00 -34%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.15 +19%
HMM Co 011200 21,350 KRW 33,795 KRW +58%
Orient Overseas (International) Limited 0316 HK$166.90 HK$237.61 +42%
Ningbo Zhoushan Port Company 601018 ¥3.39 ¥5.58 +65%
Qingdao Port International Co 601298 ¥8.69 ¥15.97 +84%
JSW Infrastructure Limited JSWINFRA ₹329.85 ₹122.71 -63%

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Frequently asked questions

Is ADS Maritime Holding Plc (ADS) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of kr 2.03 versus a price of kr 2.60, about −22% (overvalued).
What is the fair value of ADS?
Our model-based fair value for ADS Maritime Holding Plc is kr 2.03 (as of Aug 27, 2026), built from audited fundamentals. The current price: kr 2.60.
What is the quality score of ADS?
ADS Maritime Holding Plc has a Quality Score of 43/100. 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 revenue of ADS Maritime Holding Plc (ADS)?
ADS Maritime Holding Plc reported trailing-twelve-month revenue of about 349K NOK (latest available figure, as of Aug 27, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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