Aker ASA (AKER) Fair Value & Analysis
Industrials · NO · Market cap 89.7B NOK
Fair value as of: Jul 20, 2026
From 26 valuation models · updated 18 days ago
Share price +8.5% over the past month.
A solid business, but screening 32% overvalued on our models.
What matters now
- A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (kr 1,102). The favourable scenario is already priced in.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range kr 453.50 – kr 1,324 · fair‑value band kr 661.44 – kr 1,102 · the kr 1,304 price screens above the kr 881.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Aker ASA (AKER) currently trades at kr 1,304, while our model-based Fair Value estimate is kr 881.92, implying the stock looks roughly 32.4% overvalued today. We read business quality at 72/100 (solid 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: high).
Over the trailing twelve months, Aker ASA generated revenue of 18.4B NOK at a net margin of 21.4%. Revenue grew 12.7% year over year. It earns a return on equity of 4.4%. Net debt stands at 38.7B NOK. Fundamentals as of Jul 20, 2026
Our scenario range runs from kr 661.44 (bear case) to kr 1,102 (bull case); at kr 1,304, 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 2% below its 52-week high and 132% 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 -32%, AKER 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 26 models by family
Widest divergence: Dividend Discount (kr 1,709) versus Growth DCF (kr 91.16). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 90
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
Aker ASA operates as an industrial investment company in Norway, Europa, North America, South America, and internationally. The company operates in two segments: Listed Equity Investments and Unlisted Equity Investments. It is involved in exploration and production of oil and gas; provision of offshore supply vessels to global offshore energy markets.
Full company description
Aker ASA operates as an industrial investment company in Norway, Europa, North America, South America, and internationally. The company operates in two segments: Listed Equity Investments and Unlisted Equity Investments. It is involved in exploration and production of oil and gas; provision of offshore supply vessels to global offshore energy markets. In addition, the company develops and supplies krill-based products, and health and nutrition products; long-term property development and management; industrial software, artificial intelligence (AI) solutions and infrastructure, that improve efficiency and decision-making across capital-intensive industries; oil and gas production and energy services; renewable energy sector; and harvesting and processing of marine biomass for human, and animal nutrition. Further, it offers subscriptions to access the software-as-a-service (SaaS) applications. Additionally, the company engages in real estate activities. The company was founded in 1841 and is based in Lysaker, Norway. Aker ASA operates as a subsidiary of TRG Holding AS.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Aker ASA reported revenue of kr 18.4B in FY2025 versus kr 5.7B in FY2021, a compound +34.1%/yr. Reported net income was kr 3.9B in FY2025, compounding −1.9%/yr from FY2021.
AKER screens 32% overvalued. Compare with CITIC Limited →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Aker ASA (AKAAF) Q2 2026 Earnings Call Highlights: Strong NAV Growth and Strategic Liquidity Boost
- Aker ASA (AKAAF) Q1 2026 Earnings Call Highlights: Record Net Asset Value Growth and Strategic ...
- Is It Too Late To Reassess Aker (OB:AKER) After Its Strong Share Price Run
Peer Group
Conglomerates · 371 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 20, 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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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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