Constellation Oil Services Holding S.A. (COSH) fair value: what the stock is really worth
As of Oct 6, 2026: fair value of Constellation Oil Services Holding S.A. NOK 147, price NOK 131, upside +12.3%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
19‑month range kr 71.09 – kr 144.08 · fair‑value band kr 90.26 – kr 227.69 · the kr 131.00 price screens below the kr 147.11 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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Constellation Oil Services Holding S.A., together with its subsidiaries, owns, charters, and operates offshore drilling rigs for exploration and production companies in Brazil. The company was formerly known as QGOG Constellation S.A. and changed its name to Constellation Oil Services Holding S.A. in November 2018. Constellation Oil Services Holding S.A.
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Constellation Oil Services Holding S.A., together with its subsidiaries, owns, charters, and operates offshore drilling rigs for exploration and production companies in Brazil. The company was formerly known as QGOG Constellation S.A. and changed its name to Constellation Oil Services Holding S.A. in November 2018. Constellation Oil Services Holding S.A. was founded in 1980 and is headquartered in Luxembourg, Luxembourg.
Stock analysis
Constellation Oil Services Holding S.A. (COSH) currently trades at kr 131.00, while our model-based Fair Value estimate is kr 147.11, implying the stock looks roughly 11.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 146.56 per share, and 4 of the 10 models we run sit above the kr 131.00 price.
Bear case: the Multiples group reads lowest at kr 40.58, and 6 of the 10 models stay below the price. Evidence for this calculation is medium.
Scenario range: kr 90.26 (bear) to kr 227.69 (bull), the price of kr 131.00 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 52/100 (solid quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Constellation Oil Services Holding S.A. reported revenue of $597M in FY2025 versus $586M in FY2011, a compound +0.1%/yr. Reported net income was −$137M in FY2025.
Key figures
Market cap 11.5B NOK (≈ $1.2B) · P/S ratio 14.6 · EPS (TTM) kr −9.09 · Dividend yield 0.5% · Net margin −23.0% · Return on equity −4.5% · Return on assets (EBIT) −1.3% · Operating margin 27.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 45% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −27% fair-value upside, at 12%, COSH screens cheaper than that median.
Fair Value models
Bear kr 90.26Fair Value kr 147.11Bull kr 227.69
Price kr 131.00 · Upside +12.3%
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.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.53/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+6.0%
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.
+13.7%
Revenue growth 15 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.
+3.7%
’10
’11
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
6.7% (2010) → −14.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+8.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +5.8% a year for the price and +2.0% for the forecasts.
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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.Oil & Gas Drilling · 35 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside+12.3% · Above median
Profitability
Return on assets3.2% · Above median
Net margin (TTM)−10.1% · Bottom 25%
Operating margin (TTM)27.1% · Top 25%
Growth and dividend
Revenue growth81.3% · Top 25%
Dividend yield (TTM)0.5% · Bottom 25%
Balance sheet
Debt / equity0.33× · Below median
Valuation Multiplesvs Oil & Gas Drilling median · lower = cheaper
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.
Is Constellation Oil Services Holding S.A. (COSH) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of kr 147.11 versus a price of kr 131.00, about +12% upside (undervalued).
What is the fair value of COSH?
Our model-based fair value for Constellation Oil Services Holding S.A. is kr 147.11 (as of Oct 3, 2026), built from audited fundamentals. The current price: kr 131.00.
What is the quality score of COSH?
Constellation Oil Services Holding S.A. has a Quality Score of 52/100. 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 Constellation Oil Services Holding S.A. (COSH)?
Our model-based price target is the fair value of kr 147.11 (as of Oct 3, 2026) from 10 valuation models. Cautious scenario kr 90.26, optimistic scenario kr 227.69. It is a calculation from audited fundamentals, not an analyst target.
What is the Constellation Oil Services Holding S.A. stock forecast for 2026?
Our models put fair value at kr 147.11, about +12% upside versus a price of kr 131.00 (undervalued). Cautious scenario kr 90.26, optimistic scenario kr 227.69. The calculation is refreshed regularly with new filings.
What is the revenue of Constellation Oil Services Holding S.A. (COSH)?
Constellation Oil Services Holding S.A. reported trailing-twelve-month revenue of about $789M (latest available figure, as of Oct 3, 2026).
Does Constellation Oil Services Holding S.A. pay a dividend?
Constellation Oil Services Holding S.A. currently shows a dividend yield of about 0.45% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Constellation Oil Services Holding S.A. (COSH)?
For today's price to be fair in a discounted-cash-flow model, Constellation Oil Services Holding S.A. would have to grow free cash flow by +8.3 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 14 years revenue grew +0.1 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of COSH use?
Our models discount Constellation Oil Services Holding S.A. at 11.0 %: a base by market capitalisation (small), 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 Constellation Oil Services Holding S.A. that is +8.3 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Constellation Oil Services Holding S.A. (COSH) delivered so far?
Over the past 14 years revenue at Constellation Oil Services Holding S.A. grew +0.1 % a year. The price currently implies +8.3 % 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 Constellation Oil Services Holding S.A. (COSH) growing?
The median revenue growth in the sector is +11.1 % a year. That is the yardstick for the growth priced into Constellation Oil Services Holding S.A. (+8.3 % 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 Constellation Oil Services Holding S.A. (COSH)?
The free-cash-flow yield on the price is 8.49 %: that much free cash flow Constellation Oil Services Holding S.A. produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Constellation Oil Services Holding S.A. (COSH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Constellation Oil Services Holding S.A. it is kr 147.11 per share (as of Oct 3, 2026), against a price of kr 131.00. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Constellation Oil Services Holding S.A. stock overvalued or undervalued in 2026?
As of Oct 3, 2026, COSH trades below its calculated fair value: price kr 131.00, fair value kr 147.11, a gap of about +12% (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 COSH?
No. The price is what the market pays today (kr 131.00); the fair value is what the company's own numbers justify (kr 147.11). For Constellation Oil Services Holding S.A. the two are kr 16.11 per share apart. That gap is exactly why we show both numbers side by side.
How much is Constellation Oil Services Holding S.A. worth?
The market values Constellation Oil Services Holding S.A. at about 11.5B NOK (market capitalisation, as of Oct 3, 2026). Per share that is kr 131.00; our models calculate a fair value of kr 147.11 per share.
What do the bullish and bearish scenarios say about COSH?
Our models span a range for Constellation Oil Services Holding S.A.: cautious scenario kr 90.26, base kr 147.11, optimistic kr 227.69 per share (as of Oct 3, 2026, price kr 131.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Constellation Oil Services Holding S.A. (COSH)?
Balance-sheet figures for Constellation Oil Services Holding S.A. (as of Oct 3, 2026): return on equity −4.5%, debt of 0.33 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is COSH from its 52-week high?
Constellation Oil Services Holding S.A. trades at kr 131.00, about 9% below its 52-week high of kr 144.08 and 45% above the low of kr 90.64 (as of Oct 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 147.11 is for.
Which stocks are comparable to Constellation Oil Services Holding S.A.?
From the same area (Energy) we also value Noble Corporation, Transocean Ltd, Sinopec Oilfield Service Corporation, Valaris Limited, 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 Constellation Oil Services Holding S.A. stock attractive at the current price?
The data as of Oct 3, 2026: price kr 131.00, calculated fair value kr 147.11 (+12%), Quality Score 52/100, from 10 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 COSH calculated?
We run Constellation Oil Services Holding S.A. through 10 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 147.11, 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 15.4 % above its aggregate fair value. Constellation Oil Services Holding S.A. currently trades 11 % 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 Constellation Oil Services Holding S.A. (COSH)?
The closing price on Oct 6, 2026 was kr 131.00. Our model-based fair value is kr 147.11, about +12% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Constellation Oil Services Holding S.A. right now?
A fairly wide model range (kr 90.26 to kr 227.69) 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. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Constellation Oil Services Holding S.A.
How large is the market capitalisation of Constellation Oil Services Holding S.A. (COSH)?
The market capitalisation of Constellation Oil Services Holding S.A. is 11.5B NOK (≈ $1.2B). 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 Constellation Oil Services Holding S.A. (COSH)?
The price-to-sales ratio of Constellation Oil Services Holding S.A. is 14.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Constellation Oil Services Holding S.A. (COSH)?
Earnings per share at Constellation Oil Services Holding S.A. are kr −9.09. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Constellation Oil Services Holding S.A. (COSH)?
The dividend yield of Constellation Oil Services Holding S.A. is 0.5%. 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 Constellation Oil Services Holding S.A. (COSH)?
The net margin of Constellation Oil Services Holding S.A. is −23.0% (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 Constellation Oil Services Holding S.A. (COSH)?
The return on equity (ROE) of Constellation Oil Services Holding S.A. is −4.5% (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 Constellation Oil Services Holding S.A. (COSH)?
On an EBIT basis the return on assets of Constellation Oil Services Holding S.A. is −1.3% (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 Constellation Oil Services Holding S.A. (COSH)?
The operating margin of Constellation Oil Services Holding S.A. is 27.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Constellation Oil Services Holding S.A. (COSH)?
Revenue at Constellation Oil Services Holding S.A. is growing +81.3% versus a year earlier (3y avg +13.7%). 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 Constellation Oil Services Holding S.A. (COSH)?
Earnings per share at Constellation Oil Services Holding S.A. are growing +523% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Constellation Oil Services Holding S.A. (COSH) carry?
The net debt of Constellation Oil Services Holding S.A. is $428M (fiscal year 2025, ≈ 4.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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