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Atea ASA (ATEA) Fair Value & Analysis

Technology · NO · Market cap 17.8B NOK

AA Atea ASA ATEA · OL
Pricekr 174.40
Fair Valuekr 157.40
Upside-9.8%
Quality62/100
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Weak Growth
Thin margins · 2.9% net margin
Low debt · generates free cash flow
4.65% dividend yield
Ranks above peers (9/15)
Moderate moat 48/100
Evidence: High Range kr 108.26 – kr 196.75 Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 28 days ago

Share price +5.8% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (kr 108.26 to kr 196.75) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 174.60 kr 77.30 Fair Value kr 157.40 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 77.30 – kr 174.60 · fair‑value band kr 108.26 – kr 196.75 · the kr 174.40 price screens above the kr 157.40 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

Atea ASA (ATEA) currently trades at kr 174.40, while our model-based Fair Value estimate is kr 157.40, implying the stock looks roughly 9.8% fairly valued today. The Quality Score stands at 62/100 (solid quality), in the Technology 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, Atea ASA generated revenue of 38.5B NOK at a net margin of 2.9%. Revenue grew 12.9% year over year. It earns a return on equity of 24.5%. Net debt stands at 195M NOK. Fundamentals as of Jul 12, 2026

Our scenario range runs from kr 108.26 (bear case) to kr 196.75 (bull case); at kr 174.40, the current price sits within 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 near its 52-week high and 33% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at -10%, ATEA screens cheaper 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 90.08 kr 131.14 kr 190.71 80
Residual Income kr 49.12 kr 59.43 kr 133.12 76
Rev-Margin DCF kr 107.15 kr 172.98 kr 249.60 74
All 26 models by family
DCF Models
FCF DCF kr 88.95 kr 135.86 kr 208.67 38
Owner Earnings kr 135.74 kr 210.12 kr 325.55 31
5Y Revenue Exit kr 107.15 kr 173.78 kr 260.04 39
5Y EBITDA Exit kr 147.07 kr 249.41 kr 370.72 41
5Y P/E Exit kr 105.73 kr 171.08 kr 240.47 38
10Y Revenue Exit kr 96.38 kr 155.96 kr 238.24 36
10Y EBITDA Exit kr 125.44 kr 208.83 kr 323.72 37
10Y P/E Exit kr 98.95 kr 154.07 kr 223.12 35
Earnings-Based
Graham-Dodd kr 53.52 kr 176.84 kr 236.55 54
Lynch FV kr 39.89 kr 56.98 kr 74.07 50
PEG = 1.0 kr 39.89 kr 56.98 kr 74.07 46
EPV kr 107.31 kr 123.70 kr 138.03 59
Dividend Discount
Gordon GGM kr 64.27 kr 133.63 kr 211.99 70
DDM Multi-Stage kr 64.27 kr 109.23 kr 140.25 61
Multiples
P/E Multiple kr 118.05 kr 157.40 kr 196.75 63
P/S Multiple kr 100.34 kr 133.79 kr 167.24 58
P/B Multiple kr 91.69 kr 122.25 kr 152.82 55
EV/EBIT kr 175.85 kr 231.46 kr 287.06 53
EV/EBITDA kr 197.67 kr 260.55 kr 323.43 54
EV/Revenue kr 121.48 kr 169.67 kr 217.86 43
Asset-Based
NCAV (Graham) kr 20.38 kr 27.30 kr 40.75 50
Growth DCF
Growth DCF kr 90.08 kr 131.14 kr 190.71 80
Rev-Margin DCF kr 107.15 kr 172.98 kr 249.60 74
Economic Profit
Residual Income kr 49.12 kr 59.43 kr 133.12 76
ROIC Compounder kr 114.12 kr 140.31 kr 169.52 72
Growth Earnings
Growth-Adj P/E kr 100.26 kr 143.23 kr 186.20 68

Widest divergence: DCF Models (kr 171.08) versus Asset-Based (kr 27.30). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 38.5B NOK
Revenue growth (YoY) +12.9%
Net margin 2.9%
Return on equity 24.5%
Free cash flow 772M NOK FY2025
P/E ratio 17.0
More key figures
Operating margin 3.4%
EPS (TTM) kr 9.75
Dividend yield 4.7%
EPS growth (YoY) +141%
Net debt 195M NOK FY2024

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 61 · Market factors (momentum, volatility) 73

Profitability 65
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 82
Distance to the 52-week high (market factor)
Net Issuance 90
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

Atea ASA provides IT infrastructure and related solutions for businesses and public sector organizations in the Nordic countries and Baltic regions. The company offers data center and networking solutions comprising cloudtrack, continuity planning, backup as a service, managed data center, cloud intelligence service, and disaster recovery services.

Full company description

Atea ASA provides IT infrastructure and related solutions for businesses and public sector organizations in the Nordic countries and Baltic regions. The company offers data center and networking solutions comprising cloudtrack, continuity planning, backup as a service, managed data center, cloud intelligence service, and disaster recovery services. It is also involved in software licensing and cloud solutions. In addition, the company provides business intelligence, Internet of Things, artificial intelligence, and machine learning services. Further, it offers IT security lifecycle management, and digital workplace solutions, as well as information security and managed IT security services. The company was founded in 1968 and is headquartered in Oslo, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Atea ASA reported revenue of kr 37.4B in FY2025 versus kr 41.3B in FY2021, a compound −2.5%/yr. Reported net income was kr 877M in FY2025, compounding +3.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
37.4B NOK
Latest YoY
+8.1%
Avg. growth/yr (3Y)
+4.9%
Avg. growth/yr (5Y)
−1.1%
Avg. growth/yr (25Y)
+6.3%
Revenue −2.5%/yr
FY21 kr 41.3B
FY22 kr 32.4B
FY23 kr 34.7B
FY24 kr 34.6B
FY25 kr 37.4B
Net income +3.6%/yr
FY21 kr 760M
FY22 kr 848M
FY23 kr 800M
FY24 kr 775M
FY25 kr 877M

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

Peer Group

Information Technology Services · 480 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 62 · Above median
Fair Value upside −10% · Above median
Return on equity (TTM) 24% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 13% · Above median
Dividend yield (TTM) 4.7% · Top 25%
Debt / equity 0.13× · Higher than median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 16.5× · Cheaper than median
P/B 3.93× · Pricier than 75% of peers
P/S (TTM) 0.46× · Cheaper than median
P/FCF 2.4× · Cheaper than median
EV/EBITDA 10.2× · Pricier than median
PEG 1.65× · 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 20 · sector 20
FUTURE 65 · sector 29
PAST 98 · sector 36
HEALTH 94 · sector 97
DIVIDEND 93 · sector 37

Insider activity: 40/100

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is Atea ASA (ATEA) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of kr 157.40 versus a price of kr 174.40, about −10% (fairly valued).
What is the fair value of ATEA?
Our model-based fair value for Atea ASA is kr 157.40 (as of Jul 12, 2026), built from audited fundamentals. The current price is kr 174.40.
What is the quality score of ATEA?
Atea ASA has a Quality Score of 62/100. 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 Atea ASA (ATEA)?
Atea ASA reported trailing-twelve-month revenue of about 38.5B NOK (latest available figure, as of Jul 12, 2026).
What is the net profit margin of ATEA?
The net profit margin of Atea ASA is about 2.9%, meaning it keeps roughly 2.9% of revenue as net income. Based on the latest reported figures.
Does Atea ASA pay a dividend?
Atea ASA currently shows a dividend yield of about 4.66% 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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