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Aker Solutions ASA (AKSO) Fair Value & Analysis

Energy · NO · Market cap 22.2B NOK

AS Aker Solutions ASA AKSO · OL
Pricekr 41.70
Fair Valuekr 24.05
Upside-42.3%
Quality65/100
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Healthy Growth
Thin margins · 4.7% net margin
Low debt · generates free cash flow
7.83% dividend yield
Ranks above peers (9/14)
Moderate moat 52/100
Evidence: High Range kr 16.73 – kr 36.21 Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from kr 67.95 to kr 24.05 (−64.6%) since Jun 24, 2026. Share price −9.8% over the past month.

A solid business, but screening 42% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 36.21). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 16.73 to kr 36.21) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 46.32 kr 6.24 Fair Value kr 24.05 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range kr 6.24 – kr 46.32 · fair‑value band kr 16.73 – kr 36.21 · the kr 41.70 price screens above the kr 24.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Aker Solutions ASA (AKSO) currently trades at kr 41.70, while our model-based Fair Value estimate is kr 24.05, implying the stock looks roughly 42.3% overvalued today. The Quality Score stands at 65/100 (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: high).

Over the trailing twelve months, Aker Solutions ASA generated revenue of 61.3B NOK at a net margin of 4.7%. Revenue declined 6.5% year over year. It earns a return on equity of 24.9%. Net debt stands at 485M NOK. Fundamentals as of Jul 12, 2026

Our scenario range runs from kr 16.73 (bear case) to kr 36.21 (bull case); at kr 41.70, 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 74% 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 -42%, AKSO 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
Growth DCF kr 62.76 kr 102.88 kr 170.17 80
Residual Income kr 32.84 kr 40.67 kr 127.27 76
Rev-Margin DCF kr 57.67 kr 93.52 kr 139.31 74
All 26 models by family
DCF Models
FCF DCF kr 63.01 kr 106.28 kr 180.52 38
Owner Earnings kr 99.52 kr 171.30 kr 294.49 31
5Y Revenue Exit kr 57.67 kr 94.31 kr 143.67 39
5Y EBITDA Exit kr 48.79 kr 76.19 kr 109.75 41
5Y P/E Exit kr 59.75 kr 98.56 kr 142.41 38
10Y Revenue Exit kr 57.38 kr 92.68 kr 145.92 36
10Y EBITDA Exit kr 53.15 kr 79.48 kr 117.81 37
10Y P/E Exit kr 60.39 kr 95.78 kr 144.87 35
Earnings-Based
Graham-Dodd kr 35.63 kr 159.45 kr 218.50 54
Lynch FV kr 41.49 kr 59.27 kr 77.05 50
PEG = 1.0 kr 41.49 kr 59.27 kr 77.05 46
EPV kr 44.72 kr 50.89 kr 56.30 59
Dividend Discount
Gordon GGM kr 30.05 kr 62.49 kr 99.13 70
DDM Multi-Stage kr 30.05 kr 52.69 kr 65.59 61
Multiples
P/E Multiple kr 55.02 kr 73.36 kr 91.70 63
P/S Multiple kr 66.81 kr 89.08 kr 111.35 58
P/B Multiple kr 31.63 kr 42.17 kr 52.72 55
EV/EBIT kr 47.39 kr 60.64 kr 73.89 53
EV/EBITDA kr 45.03 kr 57.49 kr 69.95 54
EV/Revenue kr 55.87 kr 76.54 kr 97.21 43
Asset-Based
NCAV (Graham) kr 11.71 kr 15.70 kr 23.43 50
Growth DCF
Growth DCF kr 62.76 kr 102.88 kr 170.17 80
Rev-Margin DCF kr 57.67 kr 93.52 kr 139.31 74
Economic Profit
Residual Income kr 32.84 kr 40.67 kr 127.27 76
ROIC Compounder kr 49.50 kr 63.18 kr 80.42 72
Growth Earnings
Growth-Adj P/E kr 55.06 kr 78.65 kr 102.25 68

Widest divergence: DCF Models (kr 94.31) versus Asset-Based (kr 15.70). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 61.3B NOK
Revenue growth (YoY) -6.5%
Net margin 4.7%
Return on equity 24.9%
Free cash flow 2.1B NOK FY2025
P/E ratio 8.1
More key figures
Operating margin 4.8%
EPS (TTM) kr 5.28
Dividend yield 7.8%
EPS growth (YoY) +51.7%
Net debt 485M NOK FY2024

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 64 · Market factors (momentum, volatility) 77

Profitability 71
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 71
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 79
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

Aker Solutions ASA provides solutions, products, systems, and services to the oil and gas industry in Norway, the United States, Brazil, the United Kingdom, Malaysia, Angola, Brunei, Canada, India, and internationally. The company operates in two segments, Renewables and Field Development; and Life Cycle.

Full company description

Aker Solutions ASA provides solutions, products, systems, and services to the oil and gas industry in Norway, the United States, Brazil, the United Kingdom, Malaysia, Angola, Brunei, Canada, India, and internationally. The company operates in two segments, Renewables and Field Development; and Life Cycle. It offers field planning, feasibility, and concept studies; specialist engineering, project management, and procurement services; floater designs, offshore wind, as well as engages in design, delivery, and construction of oil and gas production, and receiving and processing facilities. The company provides carbon capture, utilization and storage, hydropower, and offshore wind solutions. Further, it designs and constructs jackets for construction services and offers electrification services; and designs and constructs offshore oil and gas production facilities and onshore receiving and processing facilities. Additionally, the company provides maintenance, modifications, decommissioning, asset integrity management, hook-up, and completion solutions. The company was founded in 1841 and is headquartered in Fornebu, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Aker Solutions ASA reported revenue of kr 62.2B in FY2025 versus kr 29.2B in FY2021, a compound +20.8%/yr. Reported net income was kr 2.5B in FY2025, compounding +78.0%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
62.2B NOK
Latest YoY
+18.7%
Avg. growth/yr (3Y)
+31.6%
Avg. growth/yr (5Y)
+16.9%
Avg. growth/yr (15Y)
+4.3%
Revenue +20.8%/yr
FY21 kr 29.2B
FY22 kr 27.3B
FY23 kr 35.9B
FY24 kr 52.4B
FY25 kr 62.2B
Net income +78.0%/yr
FY21 kr 254M
FY22 kr 1.2B
FY23 kr 11.6B
FY24 kr 2.7B
FY25 kr 2.5B

AKSO screens 42% overvalued. Compare with SLB N.V →

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Cite: Fair Value Calculator (2026). "Aker Solutions ASA Fair Value". https://www.fairvalue-calculator.com/stock/AKSO

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 65 · Top 25%
Fair Value upside −42% · Below median
Return on equity (TTM) 25% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth -7% · Below median
Dividend yield (TTM) 7.8% · Top 25%

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

P/E (TTM) 8.7× · Cheaper than 75% of peers
P/B 1.95× · Pricier than median
P/S (TTM) 0.36× · Cheaper than 75% of peers
P/FCF 1.1× · Cheaper than 75% of peers
EV/EBITDA 5.1× · Cheaper 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 0
FUTURE 0 · sector 0
PAST 100 · sector 28
HEALTH 100 · sector 92
DIVIDEND 100 · sector 31

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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 12, 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 Aker Solutions ASA (AKSO) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 24.05 versus a price of kr 41.70, about −42% (overvalued).
What is the fair value of AKSO?
Our model-based fair value for Aker Solutions ASA is kr 24.05 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 41.70.
What is the quality score of AKSO?
Aker Solutions ASA has a Quality Score of 65/100. 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 Aker Solutions ASA (AKSO)?
Aker Solutions ASA reported trailing-twelve-month revenue of about 61.3B NOK (latest available figure, as of Jul 12, 2026).
What is the net profit margin of AKSO?
The net profit margin of Aker Solutions ASA is about 4.7%, meaning it keeps roughly 4.7% of revenue as net income. Based on the latest reported figures.
Does Aker Solutions ASA pay a dividend?
Aker Solutions ASA currently shows a dividend yield of about 8.39% relative to its recent price (as of Jul 12, 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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