EAM Solar ASA (EAM) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of EAM Solar ASA NOK 0.20, price NOK 0.70, upside -70.9%, quality 37 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 Sep 27, 2026.
How to read this chart
60‑month range kr 0.6320 – kr 43.95 · fair‑value band kr 0.1530 – kr 0.2975 · the kr 0.7020 price screens above the kr 0.2040 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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EAM Solar ASA acquires, owns, and operates solar power plants in Europe. The company sells electricity under long-term fixed price sales contracts. It owns and operates 4 solar power plants with a combined installed capacity of 4.0 MW in Italy. The company was incorporated in 2011 and is based in Oslo, Norway.
Stock analysis
EAM Solar ASA (EAM) currently trades at kr 0.7020, while our model-based Fair Value estimate is kr 0.2040, 70.9% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: kr 0.1530 (bear) to kr 0.2975 (bull), the price of kr 0.7020 sits above 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 37/100 (below-average quality), in the Utilities sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
EAM Solar ASA reported revenue of €1.2M in FY2025 versus €1.3M in FY2021, a compound −2.2%/yr. Reported net income was −€1.0M in FY2025.
Key figures
Market cap 61.1M NOK (≈ $6.4M) · P/E ratio 2.4 · P/S ratio 50.7 · EPS (TTM) kr −0.0800 · Net margin −84.0% · Return on equity 64.3% · Return on assets (EBIT) −16.7% · Operating margin −97.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 82% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −40% fair-value upside, at −71%, EAM screens richer than that median.
Fair Value models
Bear kr 0.1530Fair Value kr 0.2040Bull kr 0.2975
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.27/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−19.1%
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.
−0.1%
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.
−0.8%
Start year 2020 (pandemic). Over 10 years: −14.9% a year
Revenue growth 14 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.
+9.5%
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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.
−174.3% (2020) → −62.6% (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
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.Utilities - Renewable · 196 stocks
Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score33 · Below median
Fair Value upside−70.9% · Bottom 25%
Profitability
Return on equity (TTM)64.3% · Top 25%
Return on assets−1.2% · Bottom 25%
Net margin (TTM)111.6% · Top 25%
Operating margin (TTM)−97.6% · Bottom 25%
Growth and dividend
Revenue growth−6.3% · Below median
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
P/E (TTM)2.4× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 14
FUTURE (revenue growth)0· sector 9
PAST (return on equity)100· sector 14
HEALTH (low debt)100· sector 67
DIVIDEND (yield)0· sector 45
VALUE 0: the price sits above our fair-value range.
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). "EAM Solar ASA Fair Value". https://www.fairvalue-calculator.com/stock/EAM
Frequently asked questions
Is EAM Solar ASA (EAM) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of kr 0.2040 versus a price of kr 0.7020, about −71% upside (overvalued).
What is the fair value of EAM?
Our model-based fair value for EAM Solar ASA is kr 0.2040 (as of Sep 27, 2026), built from audited fundamentals. The current price: kr 0.7020.
What is the quality score of EAM?
EAM Solar ASA has a Quality Score of 37/100. 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 EAM Solar ASA (EAM)?
Our model-based price target is the fair value of kr 0.2040 (as of Sep 27, 2026) from 1 valuation models. Cautious scenario kr 0.1530, optimistic scenario kr 0.2975. It is a calculation from audited fundamentals, not an analyst target.
What is the EAM Solar ASA stock forecast for 2026?
Our models put fair value at kr 0.2040, about −71% upside versus a price of kr 0.7020 (overvalued). Cautious scenario kr 0.1530, optimistic scenario kr 0.2975. The calculation is refreshed regularly with new filings.
What is the revenue of EAM Solar ASA (EAM)?
EAM Solar ASA reported trailing-twelve-month revenue of about €1.2M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of EAM Solar ASA (EAM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EAM Solar ASA it is kr 0.2040 per share (as of Sep 27, 2026), against a price of kr 0.7020. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is EAM Solar ASA stock overvalued or undervalued in 2026?
As of Sep 27, 2026, EAM trades above its calculated fair value: price kr 0.7020, fair value kr 0.2040, a gap of about −71% (overvalued). 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 EAM?
No. The price is what the market pays today (kr 0.7020); the fair value is what the company's own numbers justify (kr 0.2040). For EAM Solar ASA the two are kr 0.4980 per share apart. That gap is exactly why we show both numbers side by side.
How much is EAM Solar ASA worth?
The market values EAM Solar ASA at about 61.1M NOK (market capitalisation, as of Sep 27, 2026). Per share that is kr 0.7020; our models calculate a fair value of kr 0.2040 per share.
What do the bullish and bearish scenarios say about EAM?
Our models span a range for EAM Solar ASA: cautious scenario kr 0.1530, base kr 0.2040, optimistic kr 0.2975 per share (as of Sep 27, 2026, price kr 0.7020). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EAM?
EAM Solar ASA trades at a price-to-earnings ratio of 2.4 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 0.2040 is built from several models across several years.
How solid is the balance sheet of EAM Solar ASA (EAM)?
Balance-sheet figures for EAM Solar ASA (as of Sep 27, 2026): return on equity 64.3%. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is EAM from its 52-week high?
EAM Solar ASA trades at kr 0.7020, about 82% below its 52-week high of kr 4.00 and 11% above the low of kr 0.6320 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.2040 is for.
Which stocks are comparable to EAM Solar ASA?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, Fortum Oyj, 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 EAM Solar ASA stock attractive at the current price?
The data as of Sep 27, 2026: price kr 0.7020, calculated fair value kr 0.2040 (−71%), Quality Score 37/100, from 1 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 EAM calculated?
We run EAM Solar ASA through 1 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 0.2040, 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 14.5 % above its aggregate fair value. EAM Solar ASA itself currently trades above fair value. 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 EAM Solar ASA (EAM)?
The closing price on Oct 2, 2026 was kr 0.7020. Our model-based fair value is kr 0.2040, about −71% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EAM Solar ASA right now?
The price sits above even our optimistic bull case (kr 0.2975). The favourable scenario is already priced in. Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (kr 0.1530 to kr 0.2975) leaves room in how you read the outcome.
Key figures of EAM Solar ASA
How large is the market capitalisation of EAM Solar ASA (EAM)?
The market capitalisation of EAM Solar ASA is 61.1M NOK (≈ $6.4M). 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 EAM Solar ASA (EAM)?
The price-to-sales ratio of EAM Solar ASA is 50.7 (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 EAM Solar ASA (EAM)?
Earnings per share at EAM Solar ASA are kr −0.0800 (price ÷ EPS = P/E 2.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of EAM Solar ASA (EAM)?
The net margin of EAM Solar ASA is −84.0% (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 EAM Solar ASA (EAM)?
The return on equity (ROE) of EAM Solar ASA is 64.3% (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 EAM Solar ASA (EAM)?
On an EBIT basis the return on assets of EAM Solar ASA is −16.7% (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 EAM Solar ASA (EAM)?
The operating margin of EAM Solar ASA is −97.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EAM Solar ASA (EAM)?
Revenue at EAM Solar ASA is growing −6.3% versus a year earlier (3y avg −0.1%). 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 EAM Solar ASA (EAM)?
Earnings per share at EAM Solar ASA are growing −45.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does EAM Solar ASA (EAM) generate?
The free cash flow of EAM Solar ASA is −€1.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does EAM Solar ASA (EAM) carry?
The net debt of EAM Solar ASA is €5.5M (fiscal year 2018). 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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