AF Gruppen ASA (AFG) Fair Value & Analysis
Industrials · NO · Market cap 21.1B NOK
Fair value as of: Jun 24, 2026
From 24 valuation models · updated 5 days ago
Share price +4.8% over the past month.
Price vs Fair Value (12 months)
12‑month range kr 137.71 – kr 190.19 · fair‑value band kr 151.48 – kr 252.47 · the kr 189.80 price screens below the kr 201.97 fair value. As of Jun 24, 2026.
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AF Gruppen ASA (AFG) currently trades at kr 189.80, while our model-based Fair Value estimate is kr 201.97 — implying the stock looks roughly 6.4% undervalued today. We read business quality at 86/100 (high quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium) — always confirm before acting.
Over the trailing twelve months, AF Gruppen ASA generated revenue of 32.8B NOK at a net margin of 3.5%. Revenue grew 11.9% year over year. It earns a return on equity of 33.6%. Net debt stands at 365M NOK. Fundamentals as of Jun 24, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.
About the company
AF Gruppen ASA, a contracting and industrial company, provides civil engineering, construction, energy and environment, and property and offshore services in Norway and Sweden. It offers civil engineering services, including construction of various projects, such as roads, railways, bridges, port facilities, airports, tunnels, foundation work, renovation and construction of concrete structures, power and energy plants, and onshore facilities for oil and gas; and concrete technology, groundwork and earthmoving, geomatics and surveying, and project support services. The company also operates as a turnkey contractor for the development and planning to buildings comprising residential, commercial, public buildings, and rehabilitation and rebuilding, as well as offers extension work services. In addition, it provides energy solutions, which includes energy performing contracting, technical turnkey contract, local power supply, and technical services and maintenance; and energy solutions …
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
AF Gruppen ASA reported revenue of kr 31.9B in FY2025 versus kr 27.8B in FY2021, a compound +3.5%/yr. Reported net income was kr 1.1B in FY2025, compounding +1.8%/yr from FY2021.
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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.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.