Nordic Financials ASA (NOFIN) Fair Value & Analysis
Utilities · NO · Market cap 32.9M NOK
Fair value as of: Jul 18, 2026
From 1 valuation models · updated 23 days ago
Share price −4.7% over the past month.
A solid business, but screening 57% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 0.8755). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (kr 0.4590 to kr 0.8755) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range kr 1.02 – kr 103.98 · fair‑value band kr 0.4590 – kr 0.8755 · the kr 1.63 price screens above the kr 0.6970 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Nordic Financials ASA (NOFIN) currently trades at kr 1.63, while our model-based Fair Value estimate is kr 0.6970, implying the stock looks roughly 57.2% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Utilities 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: low).
Trailing-twelve-month revenue stands at 1.4M NOK. It earns a return on equity of -92.4%. Fundamentals as of Jul 18, 2026
Our scenario range runs from kr 0.4590 (bear case) to kr 0.8755 (bull case); at kr 1.63, 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 about 60% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at -57%, NOFIN screens richer 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.
All 1 models by family
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Key figures & financial health
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 33
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
Nordic Financials ASA does not have significant operations. Previously, it was engaged in the solar power and renewable energy businesses. The company was formerly known as Aega ASA. Nordic Financials ASA was incorporated in 2011 and is headquartered in Oslo, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Nordic Financials ASA reported revenue of kr 1.1M in FY2025 versus kr 20.9M in FY2021, a compound −51.9%/yr. Reported net income was −kr 11.9M in FY2025.
NOFIN screens 57% overvalued. Compare with China Yangtze Power Co →
Peer Group
Utilities - Renewable · 220 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.
Valuation Multiples vs Utilities - Renewable median · lower = cheaper
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: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Yangtze Power Co 600900 | ¥27.99 | ¥25.13 | -10% |
| Ørsted A/S ORSTED | kr 149.70 | kr 31.40 | -79% |
| Huaneng Lancang River Hydropower Inc 600025 | ¥9.81 | ¥5.57 | -43% |
| Adani Green Energy Limited ADANIGREEN | ₹1,537 | ₹170.50 | -89% |
| AXIA Energia SA AXIAP | $10.74 | $9.65 | -10% |
| VERBUND AG OEWA | €58.65 | €66.19 | +13% |
| BEP BEP | $32.33 | $73.35 | +127% |
| BEPUN BEPUN | C$44.56 | C$10.15 | -77% |
| Fortum Oyj FORTUM | €19.89 | €13.90 | -30% |
| China Longyuan Power Group 001289 | ¥16.21 | ¥8.23 | -49% |
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Frequently asked questions
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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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