HÖEgh Autoliners AS (HOEGF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of HÖEgh Autoliners AS $37.59, price $20.00, upside +88.0%, quality 63 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
58‑month range $0.8382 – $20.10 · fair‑value band $21.13 – $56.04 · the $20.00 price screens below the $37.59 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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Höegh Autoliners ASA provides ocean transportation services within the roll-on roll-off (RoRo) segment for the deep sea and short sea markets in Norway. It operates through two segments, Shipping Services and Logistics Services.
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Höegh Autoliners ASA provides ocean transportation services within the roll-on roll-off (RoRo) segment for the deep sea and short sea markets in Norway. It operates through two segments, Shipping Services and Logistics Services. The company offers ocean cargo transportation for automobiles; breakbulk; trucks, buses, and trailers; railcars and tramways; mining equipment; agricultural machinery; machinery shipping; construction equipment; power equipment; and boats and yachts. It also provides equipment handling and project cargo logistics services. In addition, the company is involved in terminal-related, management, ship owning, and crewing office activities, as well as the establishment of SPVs for entering into ship building contracts. It serves vehicle manufacturers; and producers of high and heavy construction equipment, as well as of other rolling and non-rolling stocks. As of December 31, 2025, the company operated a fleet of approximately 40 vessels. Höegh Autoliners ASA was founded in 1927 and is headquartered in Oslo, Norway.
Stock analysis
HÖEgh Autoliners AS (HOEGF) currently trades at $20.00, while our model-based Fair Value estimate is $37.59, implying the stock looks roughly 46.8% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $43.10 per share, and 19 of the 26 models we run sit above the $20.00 price.
Bear case: the Asset-Based group reads lowest at $4.48, and 7 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $21.13 (bear) to $56.04 (bull), the price of $20.00 sits below 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 63/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
HÖEgh Autoliners AS reported revenue of $1.5B in FY2025 versus $947M in FY2021, a compound +11.6%/yr. Reported net income was $529M in FY2025, compounding +43.5%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap $3.8B · P/E ratio 8.3 · P/S ratio 2.98 · EPS (TTM) $2.42 · Dividend yield 9.4% · Net margin 36.0% · Return on equity 36.6% · Return on assets (EBIT) 21.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and 158% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 57% fair-value upside, at 88%, HOEGF screens cheaper than that median.
Fair Value models
Bear $21.13Fair Value $37.59Bull $56.04
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 ($0.4030 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. 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.0%
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.
+4.9%
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.
+14.8%
Start year 2020 (pandemic)
Revenue growth 7 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.
+4.8%
’18
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’20
’21
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What shareholders gained per year (last 5 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 5 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.
+34.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.8%
Dividend (yield on the price)9.4%
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.24% → 34%
⚠ Revenue per share shrinking 23.3%/yr over ~5Y (margins intact) ⓘ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
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
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).
+2.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−2.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +0.4% a year for the price and −5.2% for the forecasts.
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.Marine Shipping · 225 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Above median
Fair Value upside+15.2% · Above median
Profitability
Return on equity (TTM)36.6% · Top 25%
Return on assets13.4% · Top 25%
Net margin (TTM)31.7% · Top 25%
Operating margin (TTM)31.5% · Above median
Growth and dividend
Revenue growth9.3% · Below median
Dividend yield (TTM)9.4% · Top 25%
Balance sheet
Debt / equity0.67× · Highest 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
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Cite: Fair Value Calculator (2026). "HÖEgh Autoliners AS Fair Value". https://www.fairvalue-calculator.com/stock/HOEGF
Frequently asked questions
Is HÖEgh Autoliners AS (HOEGF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $37.59 versus a price of $20.00, about +88% upside (undervalued).
What is the fair value of HOEGF?
Our model-based fair value for HÖEgh Autoliners AS is $37.59 (as of Sep 24, 2026), built from audited fundamentals. The current price: $20.00.
What is the quality score of HOEGF?
HÖEgh Autoliners AS has a Quality Score of 63/100. 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 HÖEgh Autoliners AS (HOEGF)?
Our model-based price target is the fair value of $37.59 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario $21.13, optimistic scenario $56.04. It is a calculation from audited fundamentals, not an analyst target.
What is the HÖEgh Autoliners AS stock forecast for 2026?
Our models put fair value at $37.59, about +88% upside versus a price of $20.00 (undervalued). Cautious scenario $21.13, optimistic scenario $56.04. The calculation is refreshed regularly with new filings.
What is the revenue of HÖEgh Autoliners AS (HOEGF)?
HÖEgh Autoliners AS reported trailing-twelve-month revenue of about $1.5B (latest available figure, as of Sep 24, 2026).
Does HÖEgh Autoliners AS pay a dividend?
HÖEgh Autoliners AS currently shows a dividend yield of about 9.44% relative to its recent price (as of Sep 24, 2026).
What growth is priced into HÖEgh Autoliners AS (HOEGF)?
For today's price to be fair in a discounted-cash-flow model, HÖEgh Autoliners AS would have to grow free cash flow by +2.8 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of HOEGF use?
Our models discount HÖEgh Autoliners AS at 8.5 %: a base by market capitalisation (mid), damped by beta 0.24, country premium for USA. 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 HÖEgh Autoliners AS that is +2.8 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has HÖEgh Autoliners AS (HOEGF) delivered so far?
Over the past 5 years revenue at HÖEgh Autoliners AS grew +14.8 % a year. The price currently implies +2.8 % 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 HÖEgh Autoliners AS (HOEGF) growing?
The median revenue growth in the sector is +7.3 % a year. That is the yardstick for the growth priced into HÖEgh Autoliners AS (+2.8 % 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 HÖEgh Autoliners AS (HOEGF)?
The free-cash-flow yield on the price is 7.06 %: that much free cash flow HÖEgh Autoliners AS produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of HÖEgh Autoliners AS (HOEGF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HÖEgh Autoliners AS it is $37.59 per share (as of Sep 24, 2026), against a price of $20.00. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is HÖEgh Autoliners AS stock overvalued or undervalued in 2026?
As of Sep 24, 2026, HOEGF trades below its calculated fair value: price $20.00, fair value $37.59, a gap of about +88% (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 HOEGF?
No. The price is what the market pays today ($20.00); the fair value is what the company's own numbers justify ($37.59). For HÖEgh Autoliners AS the two are $17.59 per share apart. That gap is exactly why we show both numbers side by side.
How much is HÖEgh Autoliners AS worth?
The market values HÖEgh Autoliners AS at about $3.8B (market capitalisation, as of Sep 24, 2026). Per share that is $20.00; our models calculate a fair value of $37.59 per share.
What do the bullish and bearish scenarios say about HOEGF?
Our models span a range for HÖEgh Autoliners AS: cautious scenario $21.13, base $37.59, optimistic $56.04 per share (as of Sep 24, 2026, price $20.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HOEGF?
HÖEgh Autoliners AS trades at a price-to-earnings ratio of 8.3 (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 $37.59 is built from several models across several years. Other multiples: P/B 3.0, P/S 2.6, EV/EBITDA 7.5.
How solid is the balance sheet of HÖEgh Autoliners AS (HOEGF)?
Balance-sheet figures for HÖEgh Autoliners AS (as of Sep 24, 2026): return on equity 36.6%, debt of 0.67 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is HOEGF from its 52-week high?
HÖEgh Autoliners AS trades at $20.00, at its 52-week high of $20.10 and 158% above the low of $7.77 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $37.59 is for.
Which stocks are comparable to HÖEgh Autoliners AS?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, 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 HÖEgh Autoliners AS stock attractive at the current price?
The data as of Sep 24, 2026: price $20.00, calculated fair value $37.59 (+88%), Quality Score 63/100, from 26 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 HOEGF calculated?
We run HÖEgh Autoliners AS through 26 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 $37.59, 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. HÖEgh Autoliners AS currently trades 47 % 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 HÖEgh Autoliners AS (HOEGF)?
The closing price on Oct 2, 2026 was $20.00. Our model-based fair value is $37.59, about +88% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HÖEgh Autoliners AS right now?
The price is below even our cautious bear case ($21.13). The market is more pessimistic than our downside scenario. The model range is unusually wide ($21.13 to $56.04). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of HÖEgh Autoliners AS
How large is the market capitalisation of HÖEgh Autoliners AS (HOEGF)?
The market capitalisation of HÖEgh Autoliners AS is $3.8B. 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 HÖEgh Autoliners AS (HOEGF)?
The price-to-sales ratio of HÖEgh Autoliners AS is 2.98 (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 HÖEgh Autoliners AS (HOEGF)?
Earnings per share at HÖEgh Autoliners AS are $2.42 (price ÷ EPS = P/E 8.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of HÖEgh Autoliners AS (HOEGF)?
The dividend yield of HÖEgh Autoliners AS is 9.4% (payout 78.0%). 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 HÖEgh Autoliners AS (HOEGF)?
The net margin of HÖEgh Autoliners AS is 36.0% (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 HÖEgh Autoliners AS (HOEGF)?
The return on equity (ROE) of HÖEgh Autoliners AS is 36.6% (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 HÖEgh Autoliners AS (HOEGF)?
On an EBIT basis the return on assets of HÖEgh Autoliners AS is 21.3% (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 HÖEgh Autoliners AS (HOEGF)?
The operating margin of HÖEgh Autoliners AS is 31.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HÖEgh Autoliners AS (HOEGF)?
Revenue at HÖEgh Autoliners AS is growing +9.3% versus a year earlier (3y avg +4.9%). 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 HÖEgh Autoliners AS (HOEGF)?
Earnings per share at HÖEgh Autoliners AS are growing −33.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does HÖEgh Autoliners AS (HOEGF) carry?
The net debt of HÖEgh Autoliners AS is $630M (fiscal year 2025, ≈ 2.3 yrs of FCF). 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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Broad data
Sep 24, 2026