Goodtech (GOD) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Goodtech NOK 17.55, price NOK 14.05, upside +24.9%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range kr 6.84 – kr 14.80 · fair‑value band kr 12.77 – kr 22.33 · the kr 14.05 price screens below the kr 17.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Goodtech ASA provides control systems, digitization, and production optimization services for the manufacturing industry in Norway, Sweden, the United States, Japan, Demark, Chile, and internationally.
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Goodtech ASA provides control systems, digitization, and production optimization services for the manufacturing industry in Norway, Sweden, the United States, Japan, Demark, Chile, and internationally. The company provides a range of in-house developed and partner-driven technologies and customized solutions for energy storage and management, digital transformation maturity, control system for wind power, asset monitoring, manufacturing execution system, technical audit services, business intelligence, cyber security management system, food production line, data hub for industrialized IT/OT architecture, and WIZX providing data storage and cloud solutions, digital production system, and feasibility study services. It also offers robotic systems for handling, controlling, and logistics of bulk materials under the Portabulk brand; power and electrical, automation, and system integration solutions; constructs and rehabilitates transformer stations. The company was founded in 1913 and is headquartered in Oslo, Norway.
Stock analysis
Goodtech (GOD) currently trades at kr 14.05, while our model-based Fair Value estimate is kr 17.55, implying the stock looks roughly 19.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 30.80 per share, and 15 of the 25 models we run sit above the kr 14.05 price.
Bear case: the Asset-Based group reads lowest at kr 6.22, and 10 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 12.77 (bear) to kr 22.33 (bull), the price of kr 14.05 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 69/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Goodtech reported revenue of 721M NOK in FY2025 versus 536M NOK in FY2021, a compound +7.7%/yr. Reported net income was 18.9M NOK in FY2025.
Key figures
Market cap 410M NOK (≈ $43.0M) · P/E ratio 10.9 · P/S ratio 0.29 · EPS (TTM) kr 1.29 · Dividend yield 3.6% · Net margin 2.6% · Return on equity 14.0% · Return on assets (EBIT) 2.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 75% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 25%, GOD screens cheaper than that median.
Fair Value models
Bear kr 12.77Fair Value kr 17.55Bull kr 22.33
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 0.5801 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.
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.79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+0.9%
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.
+12.4%
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.
+7.1%
Start year 2020 (pandemic). Over 10 years: +0.3% a year
Revenue growth 25 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.
+3.6%
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What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+33.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.9%
Dividend (yield on the price)3.6%
Profit margin 2020 to 2025 ⓘ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.0% → 5%
⚠ Revenue per share shrinking 9.9%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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).
−23.6%
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 −25.4% a year for the price.
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.Engineering & Construction · 839 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+21% · Above median
Profitability
Return on equity (TTM)14% · Above median
Return on assets6% · Top 25%
Net margin (TTM)5% · Above median
Operating margin (TTM)6% · Above median
Growth and dividend
Revenue growth4% · Above median
Dividend yield (TTM)3.6% · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (TTM)10.9× · Cheaper than median
P/B1.53× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
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). "Goodtech Fair Value". https://www.fairvalue-calculator.com/stock/GOD
Frequently asked questions
Is Goodtech (GOD) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 17.55 versus a price of kr 14.05, about +25% upside (undervalued).
What is the fair value of GOD?
Our model-based fair value for Goodtech is kr 17.55 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 14.05.
What is the quality score of GOD?
Goodtech has a Quality Score of 69/100. 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 Goodtech (GOD)?
Our model-based price target is the fair value of kr 17.55 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario kr 12.77, optimistic scenario kr 22.33. It is a calculation from audited fundamentals, not an analyst target.
What is the Goodtech stock forecast for 2026?
Our models put fair value at kr 17.55, about +25% upside versus a price of kr 14.05 (undervalued). Cautious scenario kr 12.77, optimistic scenario kr 22.33. The calculation is refreshed regularly with new filings.
What is the revenue of Goodtech (GOD)?
Goodtech reported trailing-twelve-month revenue of about 707M NOK (latest available figure, as of Sep 24, 2026).
Does Goodtech pay a dividend?
Goodtech currently shows a dividend yield of about 3.56% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Goodtech (GOD)?
For today's price to be fair in a discounted-cash-flow model, Goodtech would have to grow free cash flow by -23.6 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of GOD use?
Our models discount Goodtech at 8.3 %: a base by market capitalisation (nano), damped by beta 0.42, 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 Goodtech that is -23.6 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Goodtech (GOD) delivered so far?
Over the past 5 years revenue at Goodtech grew +7.1 % a year. The price currently implies -23.6 % 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 Goodtech (GOD) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Goodtech (-23.6 % 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 Goodtech (GOD)?
The free-cash-flow yield on the price is 18.75 %: that much free cash flow Goodtech produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Goodtech (GOD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Goodtech it is kr 17.55 per share (as of Sep 24, 2026), against a price of kr 14.05. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Goodtech stock overvalued or undervalued in 2026?
As of Sep 24, 2026, GOD trades below its calculated fair value: price kr 14.05, fair value kr 17.55, a gap of about +25% (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 GOD?
No. The price is what the market pays today (kr 14.05); the fair value is what the company's own numbers justify (kr 17.55). For Goodtech the two are kr 3.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Goodtech worth?
The market values Goodtech at about 410M NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 14.05; our models calculate a fair value of kr 17.55 per share.
What do the bullish and bearish scenarios say about GOD?
Our models span a range for Goodtech: cautious scenario kr 12.77, base kr 17.55, optimistic kr 22.33 per share (as of Sep 24, 2026, price kr 14.05). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GOD?
Goodtech trades at a price-to-earnings ratio of 10.9 (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 17.55 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 13.8 (reported for FY2025: 21.7). Other multiples: PEG 3.8, P/B 1.5, P/S 0.6, EV/EBITDA 5.9.
What is the PEG ratio of GOD?
The PEG ratio of Goodtech is 3.79 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Goodtech (GOD)?
Balance-sheet figures for Goodtech (as of Sep 24, 2026): return on equity 14.0%. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is GOD from its 52-week high?
Goodtech trades at kr 14.05, about 5% below its 52-week high of kr 14.80 and 75% above the low of kr 8.03 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 17.55 is for.
Which stocks are comparable to Goodtech?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro 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 Goodtech stock attractive at the current price?
The data as of Sep 24, 2026: price kr 14.05, calculated fair value kr 17.55 (+25%), Quality Score 69/100, from 25 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 GOD calculated?
We run Goodtech through 25 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 17.55, 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. Goodtech currently trades 25 % 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 Goodtech (GOD)?
The closing price on Sep 24, 2026 was kr 14.05. Our model-based fair value is kr 17.55, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Goodtech right now?
Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality. 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 Goodtech
How large is the market capitalisation of Goodtech (GOD)?
The market capitalisation of Goodtech is 410M NOK (≈ $43.0M). 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 Goodtech (GOD)?
The price-to-sales ratio of Goodtech is 0.29 (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 Goodtech (GOD)?
Earnings per share at Goodtech are kr 1.29 (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Goodtech (GOD)?
The dividend yield of Goodtech is 3.6% (payout 38.8%). 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 Goodtech (GOD)?
The net margin of Goodtech is 2.6% (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 Goodtech (GOD)?
The return on equity (ROE) of Goodtech is 14.0% (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 Goodtech (GOD)?
On an EBIT basis the return on assets of Goodtech is 2.6% (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 Goodtech (GOD)?
The operating margin of Goodtech is 5.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Goodtech (GOD)?
Revenue at Goodtech is growing +4.3% versus a year earlier (3y avg +12.4%). 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 Goodtech (GOD)?
Earnings per share at Goodtech are growing +300% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Goodtech (GOD) hold?
Goodtech holds more cash than debt, 48.2M NOK net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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