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General Oceans ASA (GENO) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of General Oceans ASA NOK 22.80, price NOK 20.60, upside +10.7%, quality 78 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Technology · NO · ISIN NO0013713115

GO Broad data Sep 24, 2026

General Oceans ASA

GENO · OL

Quality WatchlistA strong company, but the current price is close to Fair Value.

·Fair value kr 22.80 · Fairly valued (+11%)
✓Quality 78/100
✓Healthy Growth (revenue YoY +33.8 %/yr)
✓Solidly profitable · 12.5% net margin (TTM)
✓Low debt · generates free cash flow
✓Ranks above peers (11/14)
!Moderate moat 50/100
!Insider activity 40/100
!Weak on past: 23 out of 100
!Weak on dividend: 21 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 32.78 kr 17.10 Fair Value kr 22.80 Mar 2026 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.

How to read this chart

6‑month range kr 17.10 – kr 32.78 · fair‑value band kr 13.96 – kr 36.69 · the kr 20.60 price screens below the kr 22.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 24, 2026.

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Company profile

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.

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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.

Stock analysis

General Oceans ASA (GENO) currently trades at kr 20.60, while our model-based Fair Value estimate is kr 22.80, implying the stock looks roughly 9.6% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of kr 36.41 per share, and 13 of the 24 models we run sit above the kr 20.60 price.

Bear case: the Asset-Based group reads lowest at kr 2.53, and 11 of the 24 models stay below the price. Evidence for this calculation is high.

Scenario range: kr 13.96 (bear) to kr 36.69 (bull), the price of kr 20.60 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 78/100 (high quality), in the Technology sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

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

Key figures

Market cap 4.0B NOK (≈ $416M) · P/E ratio 26.4 · P/S ratio 3.41 · EPS (TTM) kr 0.7800 · Dividend yield 1.1% · Net margin 12.9% · Return on equity 5.8% · Return on assets (EBIT) 8.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).

What moves the price

For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at 11%, GENO screens cheaper than that median.

Fair Value models

Bear kr 13.96 Fair Value kr 22.80 Bull kr 36.69
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 0.5727 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.
Highest evidence
EPV kr 7.94 kr 8.77 kr 9.47 71
FCF DCF kr 14.78 kr 20.73 kr 38.53 70
Growth DCF kr 13.96 kr 22.80 kr 36.69 70
All 24 models by family
DCF Models
FCF DCF kr 14.78 kr 20.73 kr 38.53 70
Owner Earnings kr 15.41 kr 29.98 kr 57.02 65
5Y Revenue Exit kr 12.50 kr 19.87 kr 35.26 63
5Y EBITDA Exit kr 15.50 kr 25.94 kr 46.40 65
5Y P/E Exit kr 16.00 kr 33.21 kr 56.60 61
10Y Revenue Exit kr 12.99 kr 25.08 kr 32.43 60
10Y EBITDA Exit kr 15.33 kr 30.98 kr 58.03 58
10Y P/E Exit kr 15.66 kr 31.97 kr 58.60 55
Earnings-Based
Graham-Dodd kr 5.98 kr 41.73 kr 58.56 57
Lynch FV kr 18.65 kr 26.64 kr 34.64 55
PEG = 1.0 kr 18.65 kr 26.64 kr 34.64 52
EPV kr 7.94 kr 8.77 kr 9.47 71
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 66
EV/EBITDA kr 15.61 kr 20.21 kr 24.81 67
EV/Revenue kr 10.63 kr 14.40 kr 18.18 54
Asset-Based
NCAV (Graham) kr 1.89 kr 2.53 kr 3.77 54
Growth DCF
Growth DCF kr 13.96 kr 22.80 kr 36.69 70
Rev-Margin DCF kr 13.17 kr 22.46 kr 41.07 63
Economic Profit
Residual Income kr 5.05 kr 6.79 kr 28.28 57
ROIC Compounder kr 9.50 kr 12.72 kr 16.74 65
Growth Earnings
Growth-Adj P/E kr 25.49 kr 36.41 kr 47.34 61

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Quality Score breakdown

Overall quality 78/100

Of which business quality 77 · Market factors (momentum, volatility) 37

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 23
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 80
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

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).
+14.1%
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 +11.4% a year for the price.

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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.Scientific & Technical Instruments · 160 stocks

Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 78 · Top 25%
Fair Value upside +12% · Top 25%
Profitability
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
Growth and dividend
Revenue growth −5% · Below median
Dividend yield (TTM) 1.1% · Above median

Valuation Multiplesvs Scientific & Technical Instruments median · lower = cheaper

P/E (TTM) 26.4× · Cheaper than median
P/B 5.55× · Priciest 25%
P/S (TTM) 3.11× · Cheaper than median
P/FCF 2.4× · Cheapest 25%
EV/EBITDA 17.7× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)48 · sector 0
FUTURE (revenue growth)0 · sector 26
PAST (return on equity)23 · sector 24
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)21 · sector 19

Context: sector, industry, market

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

Similar stocks

10 more Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate.

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Keysight Technologies, Inc KEYS $347.32 $115.39 −67%
Garmin Ltd GRMN $284.67 $304.44 +7%
Teledyne Technologies Incorporated TDY $621.05 $683.16 +10%
Chroma ATE Inc 2360 2,295 TWD 618.78 TWD −73%
MKS Inc MKSI $260.37 $201.24 −23%
AVIC Chengdu Aircraft Company 302132 ¥59.95 ¥19.61 −67%
Fortive Corporation FTV $55.95 $34.86 −38%
Trimble Inc TRMB $59.30 $29.11 −51%
Cognex Corporation CGNX $58.19 $38.50 −34%
Wuhan Guide Infrared Co 002414 ¥12.23 ¥9.52 −22%

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kr 22.80 +10%Fair Value
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Cite: Fair Value Calculator (2026). "General Oceans ASA Fair Value". https://www.fairvalue-calculator.com/stock/GENO

Frequently asked questions

Is General Oceans ASA (GENO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 22.80 versus a price of kr 20.60, about +11% upside (undervalued).
What is the fair value of GENO?
Our model-based fair value for General Oceans ASA is kr 22.80 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 20.60.
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 price target for General Oceans ASA (GENO)?
Our model-based price target is the fair value of kr 22.80 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario kr 13.96, optimistic scenario kr 36.69. It is a calculation from audited fundamentals, not an analyst target.
What is the General Oceans ASA stock forecast for 2026?
Our models put fair value at kr 22.80, about +11% upside versus a price of kr 20.60 (undervalued). Cautious scenario kr 13.96, optimistic scenario kr 36.69. The calculation is refreshed regularly with new filings.
What is the revenue of General Oceans ASA (GENO)?
General Oceans ASA reported trailing-twelve-month revenue of about 1.3B NOK (latest available figure, as of Sep 24, 2026).
Does General Oceans ASA pay a dividend?
General Oceans ASA currently shows a dividend yield of about 1.05% relative to its recent price (as of Sep 24, 2026).
What growth is priced into General Oceans ASA (GENO)?
For today's price to be fair in a discounted-cash-flow model, General Oceans ASA would have to grow free cash flow by +14.1 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 2 years revenue grew +25.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of GENO use?
Our models discount General Oceans ASA 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 General Oceans ASA that is +14.1 % 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 General Oceans ASA (GENO) delivered so far?
Over the past 2 years revenue at General Oceans ASA grew +25.8 % a year. The price currently implies +14.1 % 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 General Oceans ASA (GENO) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into General Oceans ASA (+14.1 % 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 General Oceans ASA (GENO)?
The free-cash-flow yield on the price is 4.34 %: that much free cash flow General Oceans ASA 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 General Oceans ASA (GENO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For General Oceans ASA it is kr 22.80 per share (as of Sep 24, 2026), against a price of kr 20.60. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is General Oceans ASA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, GENO trades below its calculated fair value: price kr 20.60, fair value kr 22.80, a gap of about +11% (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 GENO?
No. The price is what the market pays today (kr 20.60); the fair value is what the company's own numbers justify (kr 22.80). For General Oceans ASA the two are kr 2.20 per share apart. That gap is exactly why we show both numbers side by side.
How much is General Oceans ASA worth?
The market values General Oceans ASA at about 4.0B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 20.60; our models calculate a fair value of kr 22.80 per share.
What do the bullish and bearish scenarios say about GENO?
Our models span a range for General Oceans ASA: cautious scenario kr 13.96, base kr 22.80, optimistic kr 36.69 per share (as of Sep 24, 2026, price kr 20.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GENO?
General Oceans ASA trades at a price-to-earnings ratio of 26.4 (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 22.80 is built from several models across several years. Other multiples: P/B 5.6, P/S 3.1, EV/EBITDA 17.7.
How solid is the balance sheet of General Oceans ASA (GENO)?
Balance-sheet figures for General Oceans ASA (as of Sep 24, 2026): return on equity 5.8%. They feed the Quality Score of 78/100, which measures business quality independently of the share price.
Which stocks are comparable to General Oceans ASA?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Teledyne Technologies Incorporated, Chroma ATE Inc, 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 General Oceans ASA stock attractive at the current price?
The data as of Sep 24, 2026: price kr 20.60, calculated fair value kr 22.80 (+11%), Quality Score 78/100, from 24 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 GENO calculated?
We run General Oceans ASA through 24 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 22.80, 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 13.0 % above its aggregate fair value. General Oceans ASA 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 General Oceans ASA (GENO)?
The closing price on Sep 24, 2026 was kr 20.60. Our model-based fair value is kr 22.80, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with General Oceans ASA right now?
The model range is unusually wide (kr 13.96 to kr 36.69). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 General Oceans ASA

How large is the market capitalisation of General Oceans ASA (GENO)?
The market capitalisation of General Oceans ASA is 4.0B NOK (≈ $416M). 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 General Oceans ASA (GENO)?
The price-to-sales ratio of General Oceans ASA is 3.41 (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 General Oceans ASA (GENO)?
Earnings per share at General Oceans ASA are kr 0.7800 (price ÷ EPS = P/E 26.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of General Oceans ASA (GENO)?
The dividend yield of General Oceans ASA is 1.1% (payout 27.8%). 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 General Oceans ASA (GENO)?
The net margin of General Oceans ASA is 12.9% (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 General Oceans ASA (GENO)?
The return on equity (ROE) of General Oceans ASA is 5.8% (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 General Oceans ASA (GENO)?
On an EBIT basis the return on assets of General Oceans ASA is 8.3% (avg 3y). 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 General Oceans ASA (GENO)?
The operating margin of General Oceans ASA is 14.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at General Oceans ASA (GENO)?
Revenue at General Oceans ASA is growing −5.1% versus a year earlier. 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 General Oceans ASA (GENO)?
Earnings per share at General Oceans ASA are growing −62.0% versus a year earlier. How much earnings per share grew versus a year earlier.
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