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Eidesvik Offshore ASA (EIOF) Fair Value & Analysis

Energy · NO · Market cap 1.2B NOK

EO Eidesvik Offshore ASA EIOF · OL
Pricekr 16.20
Fair Valuekr 12.91
Upside-20.3%
Quality39/100
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Expensive Growth
Thin margins · 7.8% net margin
Moderate debt · negative free cash flow
1.27% dividend yield
Trails peers (4/14)
Narrow moat 38/100
Evidence: Medium Range kr 9.81 – kr 16.14 Share as image

Fair value as of: Jul 17, 2026

From 12 valuation models · updated 25 days ago

Share price +6.9% over the past month.

Below-average quality, and screening another 20% overvalued on our models.

What matters now

  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • Our model range runs from kr 9.81 (bear) to kr 16.14 (bull), base kr 12.91. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 39/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

kr 18.72 kr 3.22 Fair Value kr 12.91 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range kr 3.22 – kr 18.72 · fair‑value band kr 9.81 – kr 16.14 · the kr 16.20 price screens above the kr 12.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Eidesvik Offshore ASA (EIOF) currently trades at kr 16.20, while our model-based Fair Value estimate is kr 12.91, implying the stock looks roughly 20.3% overvalued today. The Quality Score stands at 39/100 (below-average 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: medium).

Over the trailing twelve months, Eidesvik Offshore ASA generated revenue of 772M NOK at a net margin of 7.8%. Revenue declined 6.8% year over year. It earns a return on equity of 6.1%. Net debt stands at 907M NOK. Fundamentals as of Jul 17, 2026

Our scenario range runs from kr 9.81 (bear case) to kr 16.14 (bull case); at kr 16.20, 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 10% below its 52-week high and 40% 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 -20%, EIOF 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 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
Highest evidence
Residual Income kr 15.58 kr 15.13 kr 12.76 76
ROIC Compounder kr 0.7300 kr 1.87 72
Growth-Adj P/E kr 7.14 kr 10.19 kr 13.25 68
All 12 models by family
Earnings-Based
Graham-Dodd kr 6.36 kr 11.84 kr 14.70 54
EPV kr 0.7300 kr 1.87 59
Multiples
P/E Multiple kr 9.81 kr 13.09 kr 16.36 63
P/S Multiple kr 9.68 kr 12.91 kr 16.14 58
P/B Multiple kr 11.92 kr 15.89 kr 19.86 55
EV/EBIT kr 3.27 kr 6.77 53
EV/EBITDA kr 4.39 kr 9.42 kr 14.46 54
EV/Revenue kr 2.19 kr 6.07 43
Asset-Based
NCAV (Graham) kr 11.05 kr 14.81 kr 22.11 50
Economic Profit
Residual Income kr 15.58 kr 15.13 kr 12.76 76
ROIC Compounder kr 0.7300 kr 1.87 72
Growth Earnings
Growth-Adj P/E kr 7.14 kr 10.19 kr 13.25 68

Widest divergence: Asset-Based (kr 14.81) versus Earnings-Based (kr 0.7300). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 772M NOK
Revenue growth (YoY) -6.8%
Net margin 7.8%
Return on equity 6.1%
Free cash flow −626M NOK FY2025
P/E ratio 19.5
More key figures
Operating margin 5.6%
EPS (TTM) kr 0.8200
Dividend yield 1.3%
EPS growth (YoY) -45.0%
Net debt 907M NOK FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 42 · Market factors (momentum, volatility) 68

Profitability 27
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 6
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 66
Distance to the 52-week high (market factor)
Net Issuance 53
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

Eidesvik Offshore ASA provides services to the offshore supply, subsea, and offshore wind market in Norway. The company operates through Supply, Subsea/Offshore Renewables, and Other segments. It offers services to the offshore oil industry.

Full company description

Eidesvik Offshore ASA provides services to the offshore supply, subsea, and offshore wind market in Norway. The company operates through Supply, Subsea/Offshore Renewables, and Other segments. It offers services to the offshore oil industry. The company also provides shipping services for subsea work for the oil industry, as well as various services for the offshore renewable market. In addition, it is involved in the provision of cargo supply of pipes between onshore bases and offshore oilfields; owns and operates a fleet of subsea construction vessels; and construction and module handling, inspections, and maintenance and repair of subsea installation. The company was founded in 2004 and is headquartered in Bømlo, Norway. Eidesvik Offshore ASA is a subsidiary of Eidesvik Invest AS.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Eidesvik Offshore ASA reported revenue of kr 785M in FY2025 versus kr 569M in FY2021, a compound +8.4%/yr. Reported net income was kr 68.2M in FY2025, compounding +22.1%/yr from FY2021.

Growth Quality 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
785M NOK
Latest YoY
+3.4%
Avg. growth/yr (3Y) 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.
+7.3%
Avg. growth/yr (5Y) 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.
+9.0%
Avg. growth/yr (23Y) 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.
+1.9%
Revenue +8.4%/yr
FY21 kr 569M
FY22 kr 635M
FY23 kr 699M
FY24 kr 759M
FY25 kr 785M
Net income +22.1%/yr
FY21 kr 30.7M
FY22 kr 346M
FY23 kr 515M
FY24 kr 82.7M
FY25 kr 68.2M
Character of growth · EPS growth decomposed (2012-2023) −2.1 % p.a.
Revenue per share −9.3 pp

of which total revenue −3.9 pp · buybacks/dilution −5.3 pp

EBIT margin +7.2 pp
Tax rate +0.2 pp
Residual (interest, one-offs) −0.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

EIOF screens 20% overvalued. Compare with SLB N.V →

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Cite: Fair Value Calculator (2026). "Eidesvik Offshore ASA Fair Value". https://www.fairvalue-calculator.com/stock/EIOF

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 39 · Bottom 25%
Fair Value upside −20% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 2% · Below median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth -7% · Below median
Dividend yield (TTM) 1.3% · Below median
Debt / equity 0.70× · Higher than 75% of peers

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

P/E (TTM) 19.5× · Pricier than median
P/B 0.72× · Cheaper than median
P/S (TTM) 1.51× · Pricier than median
EV/EBITDA 7.2× · Cheaper than median
PEG 1.42× · 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 6 · sector 0
FUTURE 0 · sector 0
PAST 25 · sector 28
HEALTH 65 · sector 92
DIVIDEND 25 · sector 31

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 17, 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 Eidesvik Offshore ASA (EIOF) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of kr 12.91 versus a price of kr 16.20, about −20% (overvalued).
What is the fair value of EIOF?
Our model-based fair value for Eidesvik Offshore ASA is kr 12.91 (as of Jul 17, 2026), built from audited fundamentals. The current price is kr 16.20.
What is the quality score of EIOF?
Eidesvik Offshore ASA has a Quality Score of 39/100. 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 Eidesvik Offshore ASA (EIOF)?
Eidesvik Offshore ASA reported trailing-twelve-month revenue of about 772M NOK (latest available figure, as of Jul 17, 2026).
What is the net profit margin of EIOF?
The net profit margin of Eidesvik Offshore ASA is about 7.8%, meaning it keeps roughly 7.8% of revenue as net income. Based on the latest reported figures.
Does Eidesvik Offshore ASA pay a dividend?
Eidesvik Offshore ASA currently shows a dividend yield of about 1.25% relative to its recent price (as of Jul 17, 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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