Arendals Fossekompani ASA (AFK) Fair Value & Analysis
Industrials · NO · Market cap 9.6B NOK
Fair value as of: Jul 18, 2026
From 3 valuation models · updated 23 days ago
Fair value updated Jul 18, 2026, revised from kr 41.35 to kr 74.72 (+80.7%) since Jun 26, 2026. Share price +3.4% over the past month.
Below-average quality, and screening another 60% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 111.24). The favourable scenario is already priced in.
- The model range is unusually wide (kr 38.11 to kr 111.24). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range kr 116.21 – kr 451.46 · fair‑value band kr 38.11 – kr 111.24 · the kr 185.00 price screens above the kr 74.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Arendals Fossekompani ASA (AFK) currently trades at kr 185.00, while our model-based Fair Value estimate is kr 74.72, implying the stock looks roughly 59.6% overvalued today. The Quality Score stands at 46/100 (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).
Over the trailing twelve months, Arendals Fossekompani ASA generated revenue of 3.7B NOK at a net margin of -2.5%. Revenue declined 3.8% year over year. It earns a return on equity of -2.2%. Net debt stands at 4.0M NOK. Fundamentals as of Jul 18, 2026
Our scenario range runs from kr 38.11 (bear case) to kr 111.24 (bull case); at kr 185.00, 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 10% below its 52-week high and 53% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at -60%, AFK 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.
All 3 models by family
Widest divergence: Asset-Based (kr 59.54) versus Dividend Discount (kr 37.13). Highest evidence: Gordon GGM (70).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 45 · Market factors (momentum, volatility) 65
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.
About the company
Arendals Fossekompani ASA, an industrial investment company, provides cyber secure satellite and mobile communications in Norway, Europe, Asia, and North America. It operates through AFK Vannkraft, Group Management, NSSL Global, ENRX, Tekna, AFK Eiendom, and Alytic segments.
Full company description
Arendals Fossekompani ASA, an industrial investment company, provides cyber secure satellite and mobile communications in Norway, Europe, Asia, and North America. It operates through AFK Vannkraft, Group Management, NSSL Global, ENRX, Tekna, AFK Eiendom, and Alytic segments. It offers voice and data services, and IT support services; and airtime, projects, hardware, and service to the maritime sector, the military and government sector, large international corporations, and the energy sector. The company also generates power through hydropower plants; and owns a portfolio of companies. In addition, it offers wireless induction charging solutions to the automotive, renewable energy/wind energy, pipe fabrication, electronics, and cable and mechanical engineering; materials and plasma systems; and high-purity metal powders for applications, such as 3D printing in the aerospace, medical and consumer electronics sectors, as well as optimized induction plasma systems for industrial research and production. Further, the company is involved in property investments. Additionally, it owns and develops various residential and commercial properties. Arendals Fossekompani ASA was founded in 1896 and is headquartered in Arendal, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Arendals Fossekompani ASA reported revenue of kr 3.7B in FY2025 versus kr 4.2B in FY2021, a compound −3.1%/yr. Reported net income was −kr 56.0M in FY2025.
AFK screens 60% overvalued. Compare with CITIC Limited →
Peer Group
Conglomerates · 370 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.
Valuation Multiples vs Conglomerates median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Conglomerates stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CITIC Limited 0267 | HK$11.28 | HK$22.56 | +100% |
| SK Inc 034730 | 580,000 KRW | 497,919 KRW | -14% |
| PT Astra International Tbk, ASII | 4,810 IDR | 9,620 IDR | +100% |
| The Siam Cement Public Company SCC | 254.00 THB | 199.40 THB | -21% |
| SRF Limited SRF | ₹2,875 | ₹1,053 | -63% |
| Empresas Copec S.A COPEC | 6,330 CLP | 10,879 CLP | +72% |
| Posco International Corporation 047050 | 50,900 KRW | 61,248 KRW | +20% |
| Tube Investments of India Limited TIINDIA | ₹2,940 | ₹559.30 | -81% |
| Doosan Corporation 000155 | 464,000 KRW | 75,620 KRW | -84% |
| Thermax Limited THERMAX | ₹4,809 | ₹1,087 | -77% |
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Frequently asked questions
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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.
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