Kongsberg Gruppen ASA (KOG) fair value: what the stock is really worth
We calculate from audited financials what Kongsberg Gruppen ASA is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Kongsberg Gruppen ASA
KOG · OLStretched ValuationStrong overvaluation with only moderate quality.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range kr 28.80 – kr 421.22 · fair‑value band kr 76.88 – kr 240.71 · the kr 321.90 price screens above the kr 117.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
Company profile
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 (KOG) currently trades at kr 321.90, while our model-based Fair Value estimate is kr 117.32, implying the stock looks roughly 174.3% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 173.08 per share, and 0 of the 26 models we run sit above the kr 321.90 price.
Bear case: the Asset-Based group reads lowest at kr 17.20, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 76.88 (bear) to kr 240.71 (bull), the price of kr 321.90 sits above 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 68/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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 283B NOK (≈ $30.0B) · P/E ratio 59.1 · P/S ratio 14.9 · EPS (TTM) kr 5.45 · Dividend yield 0.7% · Net margin 25.2% · Return on equity 20.8% · Return on assets (EBIT) 7.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 42% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −29% fair-value upside, at −64%, KOG screens richer than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 69 · Market factors (momentum, volatility) 47
Revenue & earnings trend
Growth Forecast
KOG screens 174% overvalued. Compare with General Electric Company →
Earlier news
- Oceaneering International (OII) Joins Kongsberg On U.S. Navy XLUUV Program
- Kongsberg Gruppen ASA (NSKFF) Q2 2026 Earnings Call Highlights: Record Revenue and Strategic ...
- Malaysia seeks $251 million from Kongsberg after Norway scuttles missile deal
Compare Kongsberg Gruppen ASA with another stock
Price, fair value, quality and upside side by side.
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 · 230 stocks
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Valuation of the Norway market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $307.05 | $87.86 | −71% |
| RTX Corporation RTX | $195.50 | $88.37 | −55% |
| Airbus SE AIR | €199.50 | €114.43 | −43% |
| Lockheed Martin Corporation LMT | $533.46 | $419.01 | −21% |
| Howmet Aerospace Inc HWM | $224.67 | $50.43 | −78% |
| General Dynamics Corporation GD | $358.60 | $274.32 | −24% |
| Northrop Grumman Corporation NOC | $530.78 | $356.59 | −33% |
| TransDigm Group TDG | $1,085 | $1,138 | +5% |
| L3Harris Technologies, Inc LHX | $249.66 | $274.63 | +10% |
| Thales S.A HO | €240.90 | €171.13 | −29% |
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Key figures of Kongsberg Gruppen ASA
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