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Arendals Fossekompani ASA (AFK) Fair Value & Analysis

Industrials · NO · Market cap 9.6B NOK

AF Arendals Fossekompani ASA AFK · OL
Pricekr 185.00
Fair Valuekr 74.72
Upside-59.6%
Quality46/100
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Weak Growth
Loss-making · -2.5% net margin
Low debt · negative free cash flow
1.70% dividend yield
Mixed vs. peers (6/13)
Narrow moat 28/100
Evidence: Medium Range kr 38.11 – kr 111.24 Share as image

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.
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Price vs Fair Value (5 years)

kr 451.46 kr 116.21 Fair Value kr 74.72 May 2021 Aug 2026

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.

Full chart & analysis →

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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.

Model BearBaseBull Evidence
Highest evidence
Gordon GGM kr 21.56 kr 42.97 kr 65.07 70
DDM Multi-Stage kr 21.56 kr 37.13 kr 45.36 61
NCAV (Graham) kr 44.43 kr 59.54 kr 88.86 50
All 3 models by family
Dividend Discount
Gordon GGM kr 21.56 kr 42.97 kr 65.07 70
DDM Multi-Stage kr 21.56 kr 37.13 kr 45.36 61
Asset-Based
NCAV (Graham) kr 44.43 kr 59.54 kr 88.86 50

Widest divergence: Asset-Based (kr 59.54) versus Dividend Discount (kr 37.13). Highest evidence: Gordon GGM (70).

Key figures & financial health

Revenue (TTM) 3.7B NOK
Revenue growth (YoY) -4.6%
Net margin -2.5%
Return on equity -2.2%
Free cash flow −56.0M NOK FY2025
Operating margin 17.1%
More key figures
EPS (TTM) kr -1.68
Dividend yield 1.7%
EPS growth (YoY) +315%
Net debt 4.0M NOK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 45 · Market factors (momentum, volatility) 65

Profitability 22
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 16
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 76
Distance to the 52-week high (market factor)
Net Issuance 81
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.

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.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.7B NOK
Latest YoY
−14.2%
Avg. growth/yr (3Y)
−6.8%
Avg. growth/yr (5Y)
+0.5%
Avg. growth/yr (25Y)
+17.4%
Revenue −3.1%/yr
FY21 kr 4.2B
FY22 kr 4.6B
FY23 kr 3.9B
FY24 kr 4.3B
FY25 kr 3.7B
Net income
FY21 kr 107M
FY22 kr 5.7M
FY23 kr 32.6M
FY24 kr 2.2B
FY25 −kr 56.0M

AFK screens 60% overvalued. Compare with CITIC Limited →

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Cite: Fair Value Calculator (2026). "Arendals Fossekompani ASA Fair Value". https://www.fairvalue-calculator.com/stock/AFK

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.

Quality Score 46 · Below median
Fair Value upside −60% · Bottom 25%
Return on assets 2% · Above median
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 1.7% · Below median
Debt / equity 0.22× · Lower than median

Valuation Multiples vs Conglomerates median · lower = cheaper

P/B 0.21× · Cheaper than 75% of peers
P/S (TTM) 0.28× · Cheaper than median
EV/EBITDA 1.0× · Cheaper than 75% of peers
PEG 2.09× · Pricier than median

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 · sector 21
FUTURE 0 · sector 16
PAST 0 · sector 20
HEALTH 89 · sector 88
DIVIDEND 34 · sector 39

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.

None of the checked exposures detected

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

Is Arendals Fossekompani ASA (AFK) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 74.72 versus a price of kr 185.00, about −60% (overvalued).
What is the fair value of AFK?
Our model-based fair value for Arendals Fossekompani ASA is kr 74.72 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 185.00.
What is the quality score of AFK?
Arendals Fossekompani ASA has a Quality Score of 46/100. 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 Arendals Fossekompani ASA (AFK)?
Arendals Fossekompani ASA reported trailing-twelve-month revenue of about 3.7B NOK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of AFK?
The net profit margin of Arendals Fossekompani ASA is about -2.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Arendals Fossekompani ASA pay a dividend?
Arendals Fossekompani ASA currently shows a dividend yield of about 2.29% relative to its recent price (as of Jul 18, 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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