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Hunter Group (HUNT) Fair Value & Analysis

Energy · NO · Market cap 1.1B NOK

HG Hunter Group HUNT · OL
Pricekr 9.50
Fair Valuekr 6.28
Upside-33.9%
Quality72/100
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Weak Growth
Highly profitable · 159.4% net margin
Low debt · generates free cash flow
1.17% dividend yield
Ranks above peers (9/14)
Moderate moat 58/100
Evidence: High Range kr 4.85 – kr 7.70 Share as image

Fair value as of: Aug 13, 2026

From 23 valuation models · updated today

Fair value updated Aug 13, 2026, revised from kr 0.6600 to kr 6.28 (+851.5%) since Jul 18, 2026. Share price +8.6% over the past month.

A solid business, but screening 34% overvalued on our models.

What matters now

  • A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (kr 7.70). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

kr 22.87 kr 0.3058 Fair Value kr 6.28 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range kr 0.3058 – kr 22.87 · fair‑value band kr 4.85 – kr 7.70 · the kr 9.50 price screens above the kr 6.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Hunter Group (HUNT) currently trades at kr 9.50, while our model-based Fair Value estimate is kr 6.28, implying the stock looks roughly 33.9% overvalued today. The Quality Score stands at 72/100 (solid 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: high).

Over the trailing twelve months, Hunter Group generated revenue of 72.2M NOK at a net margin of 94.6%. Revenue declined 86.6% year over year. It earns a return on equity of 196.4%. The balance sheet holds a net cash position of 7.6M NOK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 4.85 (bear case) to kr 7.70 (bull case); at kr 9.50, 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 near its 52-week high. For context, the median of 10 Energy peers we cover trades at -39% fair-value upside, at -34%, HUNT 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (kr 0.1000 to kr 1.46). Read the values as a conservative anchor, not as a price target.
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 0.1200 kr 0.1400 kr 0.1700 80
Residual Income kr 0.7300 kr 1.28 kr 27.17 76
Rev-Margin DCF kr 0.1200 kr 0.1600 kr 0.2100 74
All 23 models by family
DCF Models
FCF DCF kr 0.1100 kr 0.1400 kr 0.1700 38
5Y Revenue Exit kr 0.1200 kr 0.1600 kr 0.2100 39
5Y EBITDA Exit kr 0.2900 kr 0.4500 kr 0.6600 41
5Y P/E Exit kr 0.6000 kr 0.9800 kr 1.44 38
10Y Revenue Exit kr 0.1100 kr 0.1400 kr 0.1700 36
10Y EBITDA Exit kr 0.2100 kr 0.3000 kr 0.4100 37
10Y P/E Exit kr 0.3800 kr 0.6100 kr 0.8300 35
Earnings-Based
Graham-Dodd kr 0.7100 kr 0.8700 kr 0.9700 54
EPV kr 0.7500 kr 0.8500 kr 0.9300 59
Dividend Discount
Gordon GGM kr 0.2300 kr 0.2500 kr 0.2700 70
DDM Multi-Stage kr 0.2300 kr 0.2700 kr 0.3300 61
Multiples
P/E Multiple kr 1.09 kr 1.46 kr 1.82 63
P/S Multiple kr 0.1000 kr 0.1400 kr 0.1700 58
P/B Multiple kr 0.2100 kr 0.2800 kr 0.3500 55
EV/EBIT kr 0.7800 kr 1.03 kr 1.28 53
EV/EBITDA kr 0.4900 kr 0.6400 kr 0.7900 54
EV/Revenue kr 0.1300 kr 0.1700 kr 0.2100 43
Asset-Based
NCAV (Graham) kr 0.0800 kr 0.1000 kr 0.1500 50
Growth DCF
Growth DCF kr 0.1200 kr 0.1400 kr 0.1700 80
Rev-Margin DCF kr 0.1200 kr 0.1600 kr 0.2100 74
Economic Profit
Residual Income kr 0.7300 kr 1.28 kr 27.17 76
ROIC Compounder kr 0.7500 kr 0.8600 kr 0.9600 72
Growth Earnings
Growth-Adj P/E kr 0.7900 kr 1.12 kr 1.46 68

Widest divergence: Growth Earnings (kr 1.12) versus Asset-Based (kr 0.1000). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 42.9M NOK
Revenue growth (YoY) -86.6%
Net margin 159%
Return on equity 196%
Free cash flow 1.3M NOK FY2025
P/E ratio 1.5 as of May 31, 2026
More key figures
Operating margin 97.2%
EPS (TTM) kr 5.01
Dividend yield 1.2%
EPS growth (YoY) -95.6%
Net cash 7.6M NOK FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 71 · Market factors (momentum, volatility) 70

Profitability 90
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 29
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

Hunter Group ASA provides oil tanker chartering services through VLCCs in Norway. It also focuses on shipping and oil service investments. The company was formerly known as Badger Explorer ASA and changed its name to Hunter Group ASA in May 2017. Hunter Group ASA was founded in 2003 and is headquartered in Oslo, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hunter Group reported revenue of kr 15.2M in FY2025 versus kr 37.2M in FY2021, a compound −20.0%/yr. Reported net income was kr 14.1M in FY2025, compounding +38.9%/yr from FY2021.

Growth Quality 38/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
15.2M NOK
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.
−6.0%
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.
−32.5%
Avg. growth/yr (12Y) 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.
+82.0%
Revenue −20.0%/yr
FY21 kr 37.2M
FY22 kr 18.4M
FY23 kr 52.0K
FY24 −kr 10.1M
FY25 kr 15.2M
Net income +38.9%/yr
FY21 kr 3.8M
FY22 kr 47.4M
FY23 kr 1.3M
FY24 −kr 11.9M
FY25 kr 14.1M

HUNT screens 34% overvalued. Compare with Enbridge Inc →

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Cite: Fair Value Calculator (2026). "Hunter Group Fair Value". https://www.fairvalue-calculator.com/stock/HUNT

Peer Group

Oil & Gas Midstream · 90 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 72 · Top 25%
Fair Value upside −34% · Above median
Return on equity (TTM) 196% · Top 25%
Return on assets 58% · Top 25%
Net margin (TTM) 159% · Top 25%
Operating margin (TTM) 97% · Top 25%
Revenue growth -87% · Bottom 25%
Dividend yield (TTM) 1.2% · Bottom 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Oil & Gas Midstream median · lower = cheaper

P/E (TTM) 1.5× · Cheaper than 75% of peers
P/B 5.50× · Pricier than 75% of peers
P/S (TTM) 2.66× · Pricier than median
P/FCF 90.3× · Pricier than 75% of peers
EV/EBITDA 2.7× · Cheaper than 75% of peers

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 0 · sector 0
FUTURE 0 · sector 44
PAST 100 · sector 41
HEALTH 100 · sector 56
DIVIDEND 23 · sector 92

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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 Midstream stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Enbridge Inc ENB $51.44 $35.83 -30%
The Williams Companies, Inc WMB $73.70 $11.73 -84%
Enterprise Products Partners L.P. EPD $37.92 $24.74 -35%
TC Energy Corporation TRP C$88.72 C$24.53 -72%
Kinder Morgan, Inc KMI $31.73 $10.92 -66%
Energy Transfer LP, ET $20.95 $11.45 -45%
MPLX LP owns and MPLX $59.94 $36.42 -39%
ONEOK, Inc OKE $92.47 $58.62 -37%
Targa Resources Corp TRGP $268.67 $79.61 -70%
Cheniere Energy, Inc LNG $268.11 $199.99 -25%

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Frequently asked questions

Is Hunter Group (HUNT) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 6.28 versus a price of kr 9.50, about −34% (overvalued).
What is the fair value of HUNT?
Our model-based fair value for Hunter Group is kr 6.28 (as of Aug 13, 2026), built from audited fundamentals. The current price is kr 9.50.
What is the quality score of HUNT?
Hunter Group has a Quality Score of 72/100. 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 Hunter Group (HUNT)?
Hunter Group reported trailing-twelve-month revenue of about 72.2M NOK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of HUNT?
The net profit margin of Hunter Group is about 94.6%, meaning it keeps roughly 94.6% 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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