Cambi ASA (CAMBI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Cambi ASA NOK 26.95, price NOK 24.50, upside +10.0%, quality 73 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range kr 3.80 – kr 24.50 · fair‑value band kr 18.86 – kr 35.04 · the kr 24.50 price screens below the kr 26.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Cambi ASA provides thermal hydrolysis solutions for sewage sludge and organic waste management in Europe, the Americas, Asia, Africa, and Oceania. It operates in two segments, Technology and Solutions. The Technology segment engages in the research, development, manufacture, sale, and delivery of thermal hydrolysis process plants and ancillary equipment.
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Cambi ASA provides thermal hydrolysis solutions for sewage sludge and organic waste management in Europe, the Americas, Asia, Africa, and Oceania. It operates in two segments, Technology and Solutions. The Technology segment engages in the research, development, manufacture, sale, and delivery of thermal hydrolysis process plants and ancillary equipment. The Solutions segment provides upgrades, and maintenance and operations. It also specializes in biosolids and organic waste recycling; and offers soil solutions to contractors, landscapers, and municipalities. In addition, it provides sample testing, spare sparts, remote monitoring, operator training, digester ramp-up, maintenance stop support, site visit, and site management services. Cambi ASA was founded in 1989 and is headquartered in Asker, Norway. Cambi ASA is a subsidiary of Cortex AS.
Stock analysis
Cambi ASA (CAMBI) currently trades at kr 24.50, while our model-based Fair Value estimate is kr 26.95, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 25.49 per share, and 7 of the 26 models we run sit above the kr 24.50 price.
Bear case: the Economic Profit group reads lowest at kr 5.08, and 19 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 18.86 (bear) to kr 35.04 (bull), the price of kr 24.50 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 73/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Cambi ASA reported revenue of 1.1B NOK in FY2025 versus 458M NOK in FY2021, a compound +23.6%/yr. Reported net income was 130M NOK in FY2025, compounding +65.2%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 3.9B NOK (≈ $413M) · P/E ratio 28.8 · P/S ratio 3.49 · EPS (TTM) kr 0.8500 · Dividend yield 1.2% · Net margin 12.1% · Return on equity 30.1% · Return on assets (EBIT) 14.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 65% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 6% fair-value upside, at 10%, CAMBI screens cheaper than that median.
Fair Value models
Bear kr 18.86Fair Value kr 26.95Bull kr 35.04
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 0.4023 per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.4%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+34.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+23.8%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+16.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+52.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+50.8%
Dividend (yield on the price)1.2%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 13%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+5.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about +2.6% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Pollution & Treatment Controls · 91 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Cambi ASA Fair Value". https://www.fairvalue-calculator.com/stock/CAMBI
Frequently asked questions
Is Cambi ASA (CAMBI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 26.95 versus a price of kr 24.50, about +10% upside (undervalued).
What is the fair value of CAMBI?
Our model-based fair value for Cambi ASA is kr 26.95 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 24.50.
What is the quality score of CAMBI?
Cambi ASA has a Quality Score of 73/100. 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 price target for Cambi ASA (CAMBI)?
Our model-based price target is the fair value of kr 26.95 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario kr 18.86, optimistic scenario kr 35.04. It is a calculation from audited fundamentals, not an analyst target.
What is the Cambi ASA stock forecast for 2026?
Our models put fair value at kr 26.95, about +10% upside versus a price of kr 24.50 (undervalued). Cautious scenario kr 18.86, optimistic scenario kr 35.04. The calculation is refreshed regularly with new filings.
What is the revenue of Cambi ASA (CAMBI)?
Cambi ASA reported trailing-twelve-month revenue of about 1.0B NOK (latest available figure, as of Sep 24, 2026).
Does Cambi ASA pay a dividend?
Cambi ASA currently shows a dividend yield of about 1.22% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Cambi ASA (CAMBI)?
For today's price to be fair in a discounted-cash-flow model, Cambi ASA would have to grow free cash flow by +5.0 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of CAMBI use?
Our models discount Cambi ASA at 10.4 %: a base by market capitalisation (small), damped by beta 0.79, country premium for Norway. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cambi ASA that is +5.0 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Cambi ASA (CAMBI) delivered so far?
Over the past 5 years revenue at Cambi ASA grew +23.8 % a year. The price currently implies +5.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cambi ASA (CAMBI) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Cambi ASA (+5.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cambi ASA (CAMBI)?
The free-cash-flow yield on the price is 6.74 %: that much free cash flow Cambi ASA produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cambi ASA (CAMBI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cambi ASA it is kr 26.95 per share (as of Sep 24, 2026), against a price of kr 24.50. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Cambi ASA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CAMBI trades below its calculated fair value: price kr 24.50, fair value kr 26.95, a gap of about +10% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CAMBI?
No. The price is what the market pays today (kr 24.50); the fair value is what the company's own numbers justify (kr 26.95). For Cambi ASA the two are kr 2.45 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cambi ASA worth?
The market values Cambi ASA at about 3.9B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 24.50; our models calculate a fair value of kr 26.95 per share.
What do the bullish and bearish scenarios say about CAMBI?
Our models span a range for Cambi ASA: cautious scenario kr 18.86, base kr 26.95, optimistic kr 35.04 per share (as of Sep 24, 2026, price kr 24.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CAMBI?
Cambi ASA trades at a price-to-earnings ratio of 28.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 26.95 is built from several models across several years. Other multiples: P/B 8.4, P/S 3.8, EV/EBITDA 21.4.
How solid is the balance sheet of Cambi ASA (CAMBI)?
Balance-sheet figures for Cambi ASA (as of Sep 24, 2026): return on equity 30.1%. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is CAMBI from its 52-week high?
Cambi ASA trades at kr 24.50, at its 52-week high of kr 24.50 and 65% above the low of kr 14.84 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 26.95 is for.
Which stocks are comparable to Cambi ASA?
From the same area (Industrials) we also value Veralto Corporation, Zurn Elkay Water Solutions Corporation, CECO Environmental Corp, Fujian Longking Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cambi ASA stock attractive at the current price?
The data as of Sep 24, 2026: price kr 24.50, calculated fair value kr 26.95 (+10%), Quality Score 73/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CAMBI calculated?
We run Cambi ASA through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 26.95, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Cambi ASA currently trades 10 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cambi ASA (CAMBI)?
The closing price on Sep 23, 2026 was kr 24.50. Our model-based fair value is kr 26.95, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cambi ASA right now?
A fairly wide model range (kr 18.86 to kr 35.04) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Cambi ASA
How large is the market capitalisation of Cambi ASA (CAMBI)?
The market capitalisation of Cambi ASA is 3.9B NOK (≈ $413M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cambi ASA (CAMBI)?
The price-to-sales ratio of Cambi ASA is 3.49 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cambi ASA (CAMBI)?
Earnings per share at Cambi ASA are kr 0.8500 (price ÷ EPS = P/E 28.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cambi ASA (CAMBI)?
The dividend yield of Cambi ASA is 1.2% (payout 35.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Cambi ASA (CAMBI)?
The net margin of Cambi ASA is 12.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cambi ASA (CAMBI)?
The return on equity (ROE) of Cambi ASA is 30.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cambi ASA (CAMBI)?
On an EBIT basis the return on assets of Cambi ASA is 14.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cambi ASA (CAMBI)?
The operating margin of Cambi ASA is 10.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cambi ASA (CAMBI)?
Revenue at Cambi ASA is growing −20.6% versus a year earlier (3y avg +34.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cambi ASA (CAMBI)?
Earnings per share at Cambi ASA are growing −94.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Cambi ASA (CAMBI) hold?
Cambi ASA holds more cash than debt, 155M NOK net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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