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Akastor ASA (AKAST) Fair Value & Analysis

Energy · NO · Market cap 3.5B NOK

AA Akastor ASA AKAST · OL
Pricekr 12.94
Fair Valuekr 6.86
Upside-47.0%
Quality57/100
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Weak Growth
Highly profitable · 27.8% net margin
Low debt · generates free cash flow
3.09% dividend yield
Mixed vs. peers (8/15)
Moderate moat 59/100
Evidence: Medium Range kr 2.32 – kr 11.41 Share as image

Fair value as of: Jul 15, 2026

From 9 valuation models · updated 26 days ago

Fair value updated Jul 15, 2026, revised from kr 6.99 to kr 6.86 (−1.9%) since Jun 25, 2026.

A solid business, but screening 47% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 11.41). The favourable scenario is already priced in.
  • The model range is unusually wide (kr 2.32 to kr 11.41). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 14.40 kr 4.17 Fair Value kr 6.86 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range kr 4.17 – kr 14.40 · fair‑value band kr 2.32 – kr 11.41 · the kr 12.94 price screens above the kr 6.86 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Akastor ASA (AKAST) currently trades at kr 12.94, while our model-based Fair Value estimate is kr 6.86, implying the stock looks roughly 47.0% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Energy 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, Akastor ASA generated revenue of 390M NOK at a net margin of -38.0%. Revenue grew 17.8% year over year. It earns a return on equity of -2.8%. Net debt stands at 235M NOK. Fundamentals as of Jul 15, 2026

Our scenario range runs from kr 2.32 (bear case) to kr 11.41 (bull case); at kr 12.94, 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 11% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -36% fair-value upside, at -47%, AKAST 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 0.7600 to kr 13.11). 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
Growth DCF kr 0.5400 kr 0.9300 kr 1.59 80
Rev-Margin DCF kr 0.4200 kr 0.9300 kr 1.54 74
Gordon GGM kr 6.57 kr 7.16 kr 8.06 70
All 9 models by family
DCF Models
FCF DCF kr 0.4900 kr 0.9000 kr 1.64 38
5Y Revenue Exit kr 0.4200 kr 0.9000 kr 1.59 39
10Y Revenue Exit kr 0.4100 kr 0.7600 kr 1.14 36
Dividend Discount
Gordon GGM kr 6.57 kr 7.16 kr 8.06 70
DDM Multi-Stage kr 6.57 kr 8.12 kr 10.24 61
Multiples
EV/Revenue kr 0.4700 kr 0.9400 kr 1.42 43
Asset-Based
NCAV (Graham) kr 9.79 kr 13.11 kr 19.57 50
Growth DCF
Growth DCF kr 0.5400 kr 0.9300 kr 1.59 80
Rev-Margin DCF kr 0.4200 kr 0.9300 kr 1.54 74

Widest divergence: Asset-Based (kr 13.11) versus DCF Models (kr 0.9000). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 496M NOK
Revenue growth (YoY) +140%
Net margin 27.8%
Return on equity 2.4%
Free cash flow 33.0M NOK FY2025
P/E ratio 27.4
More key figures
Operating margin 61.5%
EPS (TTM) kr 0.4700
Dividend yield 3.1%
EPS growth (YoY) -91.3%
Net debt 235M NOK FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 53 · Market factors (momentum, volatility) 67

Profitability 4
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 65
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

Akastor ASA operates as an oilfield services investment company in Norway and internationally. The company operates through HMH, AKOFS Offshore, DDW Offshore, and Other holdings segments. Its HMH segments offer delivery capabilities, capital, industry experience and delivers offshore drilling equipment products and packages on scale.

Full company description

Akastor ASA operates as an oilfield services investment company in Norway and internationally. The company operates through HMH, AKOFS Offshore, DDW Offshore, and Other holdings segments. Its HMH segments offer delivery capabilities, capital, industry experience and delivers offshore drilling equipment products and packages on scale. The AKOFS Offshore segment provides vessel-based subsea well construction, installation and intervention services to the oil and gas industry, covering all phases from development to project execution, and offshore operations. Its DDW Offshore three Anchor Handling Tug Supply AHTS vessels, operate and support clients, and handling, towing, and supply services. The other holding segment offers joint venture fon energy services, and equity instruments. It also includes anchor-handling, towing, and supply services to offshore oil and gas fields. In addition, the company offers a range of offshore drilling equipment products and packages. Further, it owns offshore vessels and anchor handling tug supply vessels. Akastor ASA was founded in 1841 and is based in Bærum, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Akastor ASA reported revenue of kr 390M in FY2025 versus kr 913M in FY2021, a compound −19.2%/yr. Reported net income was −kr 148M in FY2025.

Growth Quality 29/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
390M NOK
Latest YoY
+33.6%
Avg. growth/yr (3Y) 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.
−27.8%
Avg. 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.
−38.9%
Avg. growth/yr (20Y) 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.
−20.4%
Revenue −19.2%/yr
FY21 kr 913M
FY22 kr 1.0B
FY23 kr 268M
FY24 kr 292M
FY25 kr 390M
Net income
FY21 kr 919M
FY22 −kr 276M
FY23 −kr 265M
FY24 kr 1.7B
FY25 −kr 148M

AKAST screens 47% overvalued. Compare with SLB N.V →

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Cite: Fair Value Calculator (2026). "Akastor ASA Fair Value". https://www.fairvalue-calculator.com/stock/AKAST

Peer Group

Oil & Gas Equipment & Services · 191 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 57 · Above median
Fair Value upside −47% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 28% · Top 25%
Operating margin (TTM) 62% · Top 25%
Revenue growth 140% · Top 25%
Dividend yield (TTM) 3.1% · Top 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Oil & Gas Equipment & Services median · lower = cheaper

P/E (TTM) 27.4× · Pricier than median
P/B 0.66× · Cheaper than median
P/S (TTM) 7.08× · Pricier than 75% of peers
P/FCF 11.2× · Pricier than median
EV/EBITDA 22.9× · Pricier than 75% of peers
PEG 0.13× · Cheaper 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.

VALUE 0 · sector 0
FUTURE 100 · sector 0
PAST 10 · sector 28
HEALTH 98 · sector 92
DIVIDEND 62 · sector 31

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.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
SLB N.V SLBN 836.00 MXN 533.97 MXN -36%
Baker Hughes Company BKR $55.95 $33.55 -40%
TechnipFMC plc FTI $74.57 $27.57 -63%
Halliburton Company HAL $35.22 $21.50 -39%
Tenaris S.A TS $57.16 $45.68 -20%
Yantai Jereh Oilfield Services Group 002353 ¥138.79 ¥34.17 -75%
Saipem SpA SPM €4.20 €2.72 -35%
Subsea 7 S.A SUBC kr 319.00 kr 227.98 -29%
China Oilfield Services Limited 601808 ¥12.08 ¥12.64 +5%
Gaztransport & Technigaz SA GTT €188.10 €95.01 -49%

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Frequently asked questions

Is Akastor ASA (AKAST) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of kr 6.86 versus a price of kr 12.94, about −47% (overvalued).
What is the fair value of AKAST?
Our model-based fair value for Akastor ASA is kr 6.86 (as of Jul 15, 2026), built from audited fundamentals. The current price is kr 12.94.
What is the quality score of AKAST?
Akastor ASA has a Quality Score of 57/100. 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 Akastor ASA (AKAST)?
Akastor ASA reported trailing-twelve-month revenue of about 390M NOK (latest available figure, as of Jul 15, 2026).
What is the net profit margin of AKAST?
The net profit margin of Akastor ASA is about -38.0%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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