Kongsberg Gruppen ASA (KBGGY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Kongsberg Gruppen ASA $15.24, price $15.90, upside -4.2%, quality 49 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 29, 2026.
How to read this chart
40‑month range $3.46 – $822,546 · fair‑value band $10.68 – $19.82 · the $15.90 price screens above the $15.24 fair value. Dashed = 300-day average. As of Sep 29, 2026.
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Kongsberg Gruppen ASA, together with its subsidiaries, provides high-tech systems and solutions primarily to customers in the defense markets. It operates through Kongsberg Defence & Aerospace, Kongsberg Discovery, and Other segments. The Kongsberg Defence & Aerospace segment provides various systems and services to the defence industry.
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Kongsberg Gruppen ASA, together with its subsidiaries, provides high-tech systems and solutions primarily to customers in the defense markets. It operates through Kongsberg Defence & Aerospace, Kongsberg Discovery, and Other segments. The Kongsberg Defence & Aerospace segment provides various systems and services to the defence industry. It provides air defence and combat systems, sonars, and navigation for marine vessels and submarines, as well as integrated command and control systems; remote control weapon stations for land-based vehicles and marine vessels; remote tower solutions for airports; products for military tactical communication; naval strike and air-to-surface missiles; and components and services to the space industry, as well as port monitoring systems. This segment also offers lightweight composite and titanium components for F-35 combat aircraft, as well as maintenance and lifecycle services for military and civil capabilities. The Kongsberg Discovery segment offers subsea positioning and communication technologies; sustainable management technologies; and technologies that provide its customers with information about position, speed, acceleration, and heading, as well as uncrewed platforms that deliver autonomous underwater and surface vessels for research, defence, and commercial use. The Other segment focuses on digitalization within the oil and gas, and renewable energy markets. It operates primarily in Norway, Europe, North America, South America, Asia, Australia, and Africa. The company's distribution channels, including direct sales, partnerships and alliances, online platforms, marketing advanced technology. Kongsberg Gruppen ASA was founded in 1814 and is headquartered in Kongsberg, Norway.
Stock analysis
Kongsberg Gruppen ASA (KBGGY) currently trades at $15.90, while our model-based Fair Value estimate is $15.24, so the stock looks roughly fairly valued today (gap 4.3%).
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Valuation
Bull case: the DCF Models group reads highest at a median of $9.14 per share, and 0 of the 24 models we run sit above the $15.90 price.
Bear case: the Economic Profit group reads lowest at $3.59, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $10.68 (bear) to $19.82 (bull), the price of $15.90 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 49/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Kongsberg Gruppen ASA reported revenue of 31.6B NOK in FY2025 versus 27.4B NOK in FY2021, a compound +3.6%/yr. Reported net income was 8.0B NOK in FY2025, compounding +38.5%/yr from FY2021.
Key figures
Market cap $26.6B · P/E ratio 54.8 · P/S ratio 13.8 · EPS (TTM) $0.2900 · Dividend yield 2.0% · Net margin 25.2% · Return on equity 20.8% · Return on assets (EBIT) 6.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (medium confidence).
What moves the price
The share trades about 15% below its 52-week high and 71% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −24% fair-value upside, at −4%, KBGGY screens cheaper than that median.
Fair Value models
Bear $10.68Fair Value $15.24Bull $19.82
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.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.77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+28.1%
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.
−0.3%
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.
+4.3%
Start year 2020 (pandemic)
Revenue growth 6 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.
+4.6%
’19
’20
’21
’22
’23
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’25
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.
−3.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.7%
Dividend (yield on the price)2.0%
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.8% → 15%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−3.9%
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.
+35.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in NOK, Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about −6.2% a year for the price and +32.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (34 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
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.Aerospace & Defense · 227 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−65.7% · Below median
Profitability
Return on equity (TTM)20.8% · Top 25%
Return on assets4.2% · Above median
Net margin (TTM)22.0% · Top 25%
Operating margin (TTM)16.7% · Top 25%
Growth and dividend
Revenue growth27.1% · Top 25%
Dividend yield (TTM)2.0% · Top 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
P/E (TTM)54.8× · Pricier than median
P/B11.34× · Priciest 25%
P/S (TTM)7.65× · Priciest 25%
P/FCF26.1× · Cheaper than median
EV/EBITDA38.2× · Priciest 25%
PEG2.17× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 59
PAST (return on equity)83· sector 38
HEALTH (low debt)98· sector 94
DIVIDEND (yield)40· sector 18
VALUE 0: the price sits above our fair-value range.
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). "Kongsberg Gruppen ASA Fair Value". https://www.fairvalue-calculator.com/stock/KBGGY
Frequently asked questions
Is Kongsberg Gruppen ASA (KBGGY) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of $15.24 versus a price of $15.90, about −4% upside (fairly valued).
What is the fair value of KBGGY?
Our model-based fair value for Kongsberg Gruppen ASA is $15.24 (as of Sep 29, 2026), built from audited fundamentals. The current price: $15.90.
What is the quality score of KBGGY?
Kongsberg Gruppen ASA has a Quality Score of 49/100. 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 Kongsberg Gruppen ASA (KBGGY)?
Our model-based price target is the fair value of $15.24 (as of Sep 29, 2026) from 24 valuation models. Cautious scenario $10.68, optimistic scenario $19.82. It is a calculation from audited fundamentals, not an analyst target.
What is the Kongsberg Gruppen ASA stock forecast for 2026?
Our models put fair value at $15.24, about −4% upside versus a price of $15.90 (fairly valued). Cautious scenario $10.68, optimistic scenario $19.82. The calculation is refreshed regularly with new filings.
What is the revenue of Kongsberg Gruppen ASA (KBGGY)?
Kongsberg Gruppen ASA reported trailing-twelve-month revenue of about 33.5B NOK (latest available figure, as of Sep 29, 2026).
Does Kongsberg Gruppen ASA pay a dividend?
Kongsberg Gruppen ASA currently shows a dividend yield of about 2.02% relative to its recent price (as of Sep 29, 2026).
What growth is priced into Kongsberg Gruppen ASA (KBGGY)?
For today's price to be fair in a discounted-cash-flow model, Kongsberg Gruppen ASA would have to grow free cash flow by -3.9 % per year for five years (discount rate 8.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.3 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of KBGGY use?
Our models discount Kongsberg Gruppen ASA at 8.1 %: a base by market capitalisation (large), damped by beta 0.21, 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 Kongsberg Gruppen ASA that is -3.9 % per year a year over ten years, using the same discount rate (8.1 %) and the same formula as our fair value.
How much growth has Kongsberg Gruppen ASA (KBGGY) delivered so far?
Over the past 5 years revenue at Kongsberg Gruppen ASA grew +4.3 % a year. The price currently implies -3.9 % 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 Kongsberg Gruppen ASA (KBGGY) growing?
The median revenue growth in the sector is +7.3 % a year. That is the yardstick for the growth priced into Kongsberg Gruppen ASA (-3.9 % 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 Kongsberg Gruppen ASA (KBGGY)?
The free-cash-flow yield on the price is 7.29 %: that much free cash flow Kongsberg Gruppen ASA produces per unit of market value. When it exceeds the discount rate of our models (8.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kongsberg Gruppen ASA (KBGGY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kongsberg Gruppen ASA it is $15.24 per share (as of Sep 29, 2026), against a price of $15.90. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Kongsberg Gruppen ASA stock overvalued or undervalued in 2026?
As of Sep 29, 2026, KBGGY trades above its calculated fair value: price $15.90, fair value $15.24, a gap of about −4% (fairly valued). 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 KBGGY?
No. The price is what the market pays today ($15.90); the fair value is what the company's own numbers justify ($15.24). For Kongsberg Gruppen ASA the two are $0.6600 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kongsberg Gruppen ASA worth?
The market values Kongsberg Gruppen ASA at about $26.6B (market capitalisation, as of Sep 29, 2026). Per share that is $15.90; our models calculate a fair value of $15.24 per share.
What do the bullish and bearish scenarios say about KBGGY?
Our models span a range for Kongsberg Gruppen ASA: cautious scenario $10.68, base $15.24, optimistic $19.82 per share (as of Sep 29, 2026, price $15.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KBGGY?
Kongsberg Gruppen ASA trades at a price-to-earnings ratio of 54.8 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $15.24 is built from several models across several years. Other multiples: PEG 2.2, P/B 11.3, P/S 7.6, EV/EBITDA 38.2.
What is the PEG ratio of KBGGY?
The PEG ratio of Kongsberg Gruppen ASA is 2.17 (P/E divided by earnings growth, as of Sep 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Kongsberg Gruppen ASA (KBGGY)?
Balance-sheet figures for Kongsberg Gruppen ASA (as of Sep 29, 2026): return on equity 20.8%, debt of 0.04 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is KBGGY from its 52-week high?
Kongsberg Gruppen ASA trades at $15.90, about 15% below its 52-week high of $18.69 and 71% above the low of $9.32 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $15.24 is for.
Which stocks are comparable to Kongsberg Gruppen ASA?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin Corporation, 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 Kongsberg Gruppen ASA stock attractive at the current price?
The data as of Sep 29, 2026: price $15.90, calculated fair value $15.24 (−4%), Quality Score 49/100, 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 KBGGY calculated?
We run Kongsberg Gruppen 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 $15.24, 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. Kongsberg Gruppen ASA itself currently trades above fair value. 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 Kongsberg Gruppen ASA (KBGGY)?
The closing price on Oct 2, 2026 was $15.90. Our model-based fair value is $15.24, about −4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kongsberg Gruppen ASA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($10.68 to $19.82) leaves room in how you read the outcome.
Key figures of Kongsberg Gruppen ASA
How large is the market capitalisation of Kongsberg Gruppen ASA (KBGGY)?
The market capitalisation of Kongsberg Gruppen ASA is $26.6B. 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 Kongsberg Gruppen ASA (KBGGY)?
The price-to-sales ratio of Kongsberg Gruppen ASA is 13.8 (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 Kongsberg Gruppen ASA (KBGGY)?
Earnings per share at Kongsberg Gruppen ASA are $0.2900 (price ÷ EPS = P/E 54.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kongsberg Gruppen ASA (KBGGY)?
The dividend yield of Kongsberg Gruppen ASA is 2.0% (payout 111%). 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 Kongsberg Gruppen ASA (KBGGY)?
The net margin of Kongsberg Gruppen ASA is 25.2% (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 Kongsberg Gruppen ASA (KBGGY)?
The return on equity (ROE) of Kongsberg Gruppen ASA is 20.8% (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 Kongsberg Gruppen ASA (KBGGY)?
On an EBIT basis the return on assets of Kongsberg Gruppen ASA is 6.8% (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 Kongsberg Gruppen ASA (KBGGY)?
The operating margin of Kongsberg Gruppen ASA is 16.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kongsberg Gruppen ASA (KBGGY)?
Revenue at Kongsberg Gruppen ASA is growing +27.1% versus a year earlier (3y avg −0.3%). 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 Kongsberg Gruppen ASA (KBGGY)?
Earnings per share at Kongsberg Gruppen ASA are growing −26.3% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Sep 29, 2026