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General Oceans ASA (GENO) Fair Value & Analysis

Technology · NO · Market cap 3.8B NOK

GO General Oceans ASA GENO · OL
Pricekr 21.50
Fair Valuekr 24.64
Upside+14.6%
Quality78/100
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Healthy Growth
Solidly profitable · 12.5% net margin
Low debt · generates free cash flow
Ranks above peers (9/13)
Moderate moat 50/100
Evidence: Medium Range kr 18.48 – kr 39.11 Share as image

Fair value as of: Jul 15, 2026

From 24 valuation models · updated 26 days ago

Fair value updated Jul 15, 2026, revised from kr 18.28 to kr 24.64 (+34.8%) since Jun 24, 2026. Share price +12.3% over the past month.

A strong business, screening 15% undervalued on our models.

What matters now

  • A fairly wide model range (kr 18.48 to kr 39.11) leaves room in how you read the outcome.
  • Our model range runs from kr 18.48 (bear) to kr 39.11 (bull), base kr 24.64. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 78/100 (high quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 months)

kr 32.78 kr 18.82 Fair Value kr 24.64 Mar 2026 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 15, 2026.

How to read this chart

5‑month range kr 18.82 – kr 32.78 · fair‑value band kr 18.48 – kr 39.11 · the kr 21.50 price screens below the kr 24.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Jul 15, 2026.

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Analysis

General Oceans ASA (GENO) currently trades at kr 21.50, while our model-based Fair Value estimate is kr 24.64, implying the stock looks roughly 14.6% undervalued today. The Quality Score stands at 78/100 (high quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, General Oceans ASA generated revenue of 960M NOK at a net margin of 4.1%. It earns a return on equity of 5.8%. The stock trades on a trailing P/E of 29.6. Fundamentals as of Jul 15, 2026

Our scenario range runs from kr 18.48 (bear case) to kr 39.11 (bull case); at kr 21.50, 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 about 35% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -45% fair-value upside, at 15%, GENO 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
Growth DCF kr 15.50 kr 27.86 kr 47.77 80
Residual Income kr 5.72 kr 7.69 kr 39.11 76
Rev-Margin DCF kr 13.67 kr 23.55 kr 43.34 74
All 24 models by family
DCF Models
FCF DCF kr 16.39 kr 24.25 kr 48.76 38
Owner Earnings kr 17.12 kr 35.73 kr 73.36 31
5Y Revenue Exit kr 12.95 kr 20.81 kr 37.23 39
5Y EBITDA Exit kr 16.17 kr 27.31 kr 49.16 41
5Y P/E Exit kr 16.70 kr 35.05 kr 60.04 38
10Y Revenue Exit kr 13.77 kr 27.34 kr 35.75 36
10Y EBITDA Exit kr 16.45 kr 34.10 kr 64.79 37
10Y P/E Exit kr 16.83 kr 35.23 kr 65.45 35
Earnings-Based
Graham-Dodd kr 5.98 kr 41.73 kr 58.56 54
Lynch FV kr 18.65 kr 26.64 kr 34.64 50
PEG = 1.0 kr 18.65 kr 26.64 kr 34.64 46
EPV kr 8.77 kr 9.87 kr 10.82 59
Multiples
P/E Multiple kr 14.52 kr 19.36 kr 24.20 63
P/S Multiple kr 11.22 kr 14.96 kr 18.70 58
P/B Multiple kr 11.22 kr 14.96 kr 18.70 55
EV/EBIT kr 14.16 kr 18.28 kr 22.39 53
EV/EBITDA kr 15.61 kr 20.21 kr 24.81 54
EV/Revenue kr 10.63 kr 14.40 kr 18.18 43
Asset-Based
NCAV (Graham) kr 1.89 kr 2.53 kr 3.77 50
Growth DCF
Growth DCF kr 15.50 kr 27.86 kr 47.77 80
Rev-Margin DCF kr 13.67 kr 23.55 kr 43.34 74
Economic Profit
Residual Income kr 5.72 kr 7.69 kr 39.11 76
ROIC Compounder kr 10.78 kr 15.16 kr 21.01 72
Growth Earnings
Growth-Adj P/E kr 25.49 kr 36.41 kr 47.34 68

Widest divergence: Growth Earnings (kr 36.41) versus Asset-Based (kr 2.53). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 960M NOK
Net margin 4.1%
Return on equity 5.8%
Free cash flow 172M NOK FY2025
P/E ratio 29.6
Operating margin 7.0%
More key figures
EPS (TTM) kr 0.7800

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 78/100

Of which business quality 77 · Market factors (momentum, volatility) 25

Profitability 76
Margins and returns on capital today
Quality Growth 81
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 27
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 80
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

General Oceans ASA engages in developing and manufacturing oceanographic sensors, underwater vehicle systems, robotic manipulators, and software in Norway and Internationally. The company operates through two segments: Sensors and Robotics.

Full company description

General Oceans ASA engages in developing and manufacturing oceanographic sensors, underwater vehicle systems, robotic manipulators, and software in Norway and Internationally. The company operates through two segments: Sensors and Robotics. The Sensors segment includes the design, manufacture, integration and sale of acoustic and environmental subsea sensors used for underwater perception, navigation, seabed mapping, and oceanographic measurement. The Robotics segment includes integrated underwater robotic vehicles and manipulators used for unmanned subsea operations, inspection, intervention, and defence applications. The company develops and supplies instrumentation technology for measuring and understanding the ocean and its dynamics, imaging and navigation systems, and remotely operated and autonomous vehicle solutions with associated manipulators and control systems. It offers its sensors, systems and robotic solutions for application in marine environments and subsea operations. The company sells its products through direct sales and distributors. General Oceans ASA was founded in 1996 and is headquartered in Rud, Norway.

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

Revenue & earnings trend

FY2023 – FY2025 · reported fiscal years

General Oceans ASA reported revenue of kr 1.3B in FY2025 versus kr 809M in FY2023, a compound +25.8%/yr. Reported net income was kr 165M in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.3B NOK
Latest YoY
+33.8%
Revenue +25.8%/yr
FY23 kr 809M
FY24 kr 957M
FY25 kr 1.3B
Net income
FY23 −kr 72.5M
FY24 kr 39.2M
FY25 kr 165M

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Cite: Fair Value Calculator (2026). "General Oceans ASA Fair Value". https://www.fairvalue-calculator.com/stock/GENO

Peer Group

Scientific & Technical Instruments · 161 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 78 · Top 25%
Fair Value upside +15% · Top 25%
Return on equity (TTM) 6% · Below median
Return on assets 4% · Above median
Net margin (TTM) 13% · Above median
Operating margin (TTM) 14% · Above median
Revenue growth -5% · Below median

Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper

P/E (TTM) 26.0× · Cheaper than median
P/B 5.37× · Pricier than 75% of peers
P/S (TTM) 3.01× · Pricier than median
P/FCF 2.3× · Cheaper than 75% of peers
EV/EBITDA 17.1× · Cheaper 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 53 · sector 0
FUTURE 0 · sector 34
PAST 23 · sector 25
HEALTH 100 · sector 98
DIVIDEND 0 · sector 24

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 Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

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Hexagon AB HEXAB kr 80.10 kr 52.93 -34%
MKS Inc MKSI $324.69 $77.46 -76%
AVIC Chengdu Aircraft Company 302132 ¥52.91 ¥34.47 -35%
Fortive Corporation FTV $61.78 $33.84 -45%
Trimble Inc TRMB $52.72 $24.47 -54%
Cognex Corporation CGNX $64.07 $13.75 -79%

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Frequently asked questions

Is General Oceans ASA (GENO) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of kr 24.64 versus a price of kr 21.50, about +15% (undervalued).
What is the fair value of GENO?
Our model-based fair value for General Oceans ASA is kr 24.64 (as of Jul 15, 2026), built from audited fundamentals. The current price is kr 21.50.
What is the quality score of GENO?
General Oceans ASA has a Quality Score of 78/100. 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 General Oceans ASA (GENO)?
General Oceans ASA reported trailing-twelve-month revenue of about 960M NOK (latest available figure, as of Jul 15, 2026).
What is the net profit margin of GENO?
The net profit margin of General Oceans ASA is about 4.1%, meaning it keeps roughly 4.1% of revenue as net income. Based on the latest reported figures.

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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