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North Energy ASA (NORTH) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of North Energy ASA NOK 2.25, price NOK 2.63, upside -14.5%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Financial Services · NO · ISIN NO0010550056

NE Thin data Sep 24, 2026

North Energy ASA

NORTH · OL

Weak valuationQuality is weak on top of the rich price.

!Fair value kr 2.25 · Overvalued (−14%)
!Quality 44/100
!Weak Growth (revenue 5y −4.3 %/yr)
!Low debt · negative free cash flow
·4.94% dividend yield
!Trails peers (3/8)
!Narrow moat 10/100
!Insider activity 40/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 14 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 2.86 kr 1.69 Fair Value kr 2.25 Jun 2021 Sep 2026

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

60‑month range kr 1.69 – kr 2.86 · fair‑value band kr 1.68 – kr 2.81 · the kr 2.63 price screens above the kr 2.25 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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Company profile

North Energy ASA, an industrial investment company, owns, manages, and provides financing for activities within the energy and other industries in Norway. It operates through two segments, Industrial Holdings and Financial Investments. It holds a portfolio of independent investments in listed and unlisted companies.

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North Energy ASA, an industrial investment company, owns, manages, and provides financing for activities within the energy and other industries in Norway. It operates through two segments, Industrial Holdings and Financial Investments. It holds a portfolio of independent investments in listed and unlisted companies. The company was incorporated in 2007 and is headquartered in Oslo, Norway.

Stock analysis

North Energy ASA (NORTH) currently trades at kr 2.63, while our model-based Fair Value estimate is kr 2.25, implying the stock looks roughly 16.9% overvalued today.

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Valuation

How firm this estimate is: it rests on 4 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: kr 1.68 (bear) to kr 2.81 (bull), the price of kr 2.63 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 44/100 (below-average quality), in the Financial Services sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

North Energy ASA reported revenue of 90.0K NOK in FY2025 versus 178K NOK in FY2021, a compound −15.7%/yr. Reported net income was −40.2M NOK in FY2025.

Key figures

Market cap 308M NOK (≈ $32.4M) · EPS (TTM) kr −0.5000 · Dividend yield 4.9% · Return on equity −18.5% · Return on assets (EBIT) −0.6% · Operating margin −25,417% · Revenue (TTM) 90.0K NOK · EPS growth (YoY) +83.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).

What moves the price

The share trades about 7% below its 52-week high and 17% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at −14%, NORTH screens richer than that median.

Fair Value models

Bear kr 1.68 Fair Value kr 2.25 Bull kr 2.81
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. 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.
Highest evidence
P/B Multiple kr 1.68 kr 2.25 kr 2.81 55
NCAV (Graham) kr 1.32 kr 1.77 kr 2.64 54
All 2 models by family
Multiples
P/B Multiple kr 1.68 kr 2.25 kr 2.81 55
Asset-Based
NCAV (Graham) kr 1.32 kr 1.77 kr 2.64 54

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Quality Score breakdown

Overall quality 44/100

Of which business quality 49 · Market factors (momentum, volatility) 58

Profitability 0
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 26
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 0/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+0.0%
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 9 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.
−42.9%
Profit margin (trend) ⓘ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.
97,409.8% (2020) → −51,262.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

NORTH screens 17% overvalued. Compare with Blackstone Inc →

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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.Asset Management · 656 stocks

Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside −14% · Below median
Profitability
Return on assets −4% · Bottom 25%
Growth and dividend
Revenue growth 0% · Below median
Dividend yield (TTM) 4.9% · Above median

Valuation Multiplesvs Asset Management median · lower = cheaper

P/B 0.10× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)14 · sector 56
FUTURE (revenue growth)0 · sector 21
PAST (return on equity)0 · sector 22
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)99 · sector 81

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $117.21 $52.29 −55%
Brookfield Corporation BN $37.85 $13.75 −64%
KKR & Co KKR $97.21 $29.25 −70%
Apollo Global Management, Inc APO $124.36 $229.64 +85%
State Street Corporation STT $179.95 $138.33 −23%
Ameriprise Financial, Inc AMP $502.79 $579.51 +15%
Ares Management Corporation ARES $124.72 $119.25 −4%
Northern Trust Corporation NTRS $173.40 $122.02 −30%
Raymond James Financial, Inc RJF $158.23 $312.27 +97%
T. Rowe Price Group TROW $104.57 $209.14 +100%

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kr 2.25 −17%Fair Value
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Cite: Fair Value Calculator (2026). "North Energy ASA Fair Value". https://www.fairvalue-calculator.com/stock/NORTH

Frequently asked questions

Is North Energy ASA (NORTH) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 2.25 versus a price of kr 2.63, about −14% upside (overvalued).
What is the fair value of NORTH?
Our model-based fair value for North Energy ASA is kr 2.25 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 2.63.
What is the quality score of NORTH?
North Energy ASA has a Quality Score of 44/100. 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 North Energy ASA (NORTH)?
Our model-based price target is the fair value of kr 2.25 (as of Sep 24, 2026) from 2 valuation models. Cautious scenario kr 1.68, optimistic scenario kr 2.81. It is a calculation from audited fundamentals, not an analyst target.
What is the North Energy ASA stock forecast for 2026?
Our models put fair value at kr 2.25, about −14% upside versus a price of kr 2.63 (overvalued). Cautious scenario kr 1.68, optimistic scenario kr 2.81. The calculation is refreshed regularly with new filings.
What is the revenue of North Energy ASA (NORTH)?
North Energy ASA reported trailing-twelve-month revenue of about 90.0K NOK (latest available figure, as of Sep 24, 2026).
Does North Energy ASA pay a dividend?
North Energy ASA currently shows a dividend yield of about 4.94% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of North Energy ASA (NORTH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For North Energy ASA it is kr 2.25 per share (as of Sep 24, 2026), against a price of kr 2.63. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is North Energy ASA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NORTH trades above its calculated fair value: price kr 2.63, fair value kr 2.25, a gap of about −14% (overvalued). 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 NORTH?
No. The price is what the market pays today (kr 2.63); the fair value is what the company's own numbers justify (kr 2.25). For North Energy ASA the two are kr 0.3800 per share apart. That gap is exactly why we show both numbers side by side.
How much is North Energy ASA worth?
The market values North Energy ASA at about 308M NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 2.63; our models calculate a fair value of kr 2.25 per share.
What do the bullish and bearish scenarios say about NORTH?
Our models span a range for North Energy ASA: cautious scenario kr 1.68, base kr 2.25, optimistic kr 2.81 per share (as of Sep 24, 2026, price kr 2.63). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of North Energy ASA (NORTH)?
Balance-sheet figures for North Energy ASA (as of Sep 24, 2026): return on equity −18.5%. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is NORTH from its 52-week high?
North Energy ASA trades at kr 2.63, about 7% below its 52-week high of kr 2.84 and 17% above the low of kr 2.25 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 2.25 is for.
Which stocks are comparable to North Energy ASA?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, Inc, 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 North Energy ASA stock attractive at the current price?
The data as of Sep 24, 2026: price kr 2.63, calculated fair value kr 2.25 (−14%), Quality Score 44/100, from 2 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 NORTH calculated?
We run North Energy ASA through 2 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 kr 2.25, 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 14.0 % above its aggregate fair value. North Energy 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 North Energy ASA (NORTH)?
The closing price on Sep 24, 2026 was kr 2.63. Our model-based fair value is kr 2.25, about −14% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with North Energy ASA right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of North Energy ASA

How large is the market capitalisation of North Energy ASA (NORTH)?
The market capitalisation of North Energy ASA is 308M NOK (≈ $32.4M). 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 are the earnings per share of North Energy ASA (NORTH)?
Earnings per share at North Energy ASA are kr −0.5000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of North Energy ASA (NORTH)?
The dividend yield of North Energy ASA is 4.9%. 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 return on equity of North Energy ASA (NORTH)?
The return on equity (ROE) of North Energy ASA is −18.5% (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 North Energy ASA (NORTH)?
On an EBIT basis the return on assets of North Energy ASA is −0.6% (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 North Energy ASA (NORTH)?
The operating margin of North Energy ASA is −25,417% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast are earnings growing at North Energy ASA (NORTH)?
Earnings per share at North Energy ASA are growing +83.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does North Energy ASA (NORTH) generate?
The free cash flow of North Energy ASA is −21.7M NOK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does North Energy ASA (NORTH) carry?
The net debt of North Energy ASA is 8.1M NOK (fiscal year 2023). 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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