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Ocean Sun AS (OSUN) Fair Value & Analysis

Utilities · NO · Market cap 48.9M NOK

OS Ocean Sun AS OSUN · OL
Pricekr 0.5240
Fair Valuekr 0.1530
Upside-70.8%
Quality40/100
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Mixed Growth
Thin margins · 0.0% net margin
negative free cash flow
Trails peers (3/8)
Narrow moat 8/100
Evidence: Low Range kr 0.1020 – kr 0.1955 Share as image

Fair value as of: Jul 16, 2026

From 1 valuation models · updated 25 days ago

Share price −2.6% over the past month.

Below-average quality, and screening another 71% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 0.1955). The favourable scenario is already priced in.
  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (kr 0.1020 to kr 0.1955) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 41.00 kr 0.4880 Fair Value kr 0.1530 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 0.4880 – kr 41.00 · fair‑value band kr 0.1020 – kr 0.1955 · the kr 0.5240 price screens above the kr 0.1530 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Ocean Sun AS (OSUN) currently trades at kr 0.5240, while our model-based Fair Value estimate is kr 0.1530, implying the stock looks roughly 70.8% overvalued today. The Quality Score stands at 40/100 (below-average 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 2.2M NOK. Revenue grew 11.7% year over year. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 0.1020 (bear case) to kr 0.1955 (bull case); at kr 0.5240, 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. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at -71%, OSUN 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.

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
NCAV (Graham) kr 0.1000 kr 0.1300 kr 0.1900 50
All 1 models by family
Asset-Based
NCAV (Graham) kr 0.1000 kr 0.1300 kr 0.1900 50

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Key figures & financial health

Revenue (TTM) 2.2M NOK
Revenue growth (YoY) +11.7%
Return on equity -128%
Free cash flow −21.9M NOK FY2025
Operating margin -15,493%
EPS (TTM) kr -0.4300

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 42 · Market factors (momentum, volatility) 15

Profitability 3
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 23
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

Ocean Sun AS develops floating power system with solar panels mounted on a hydroelastic membrane. Its system consists of one or multiple floaters anchored side-by-side to build larger power plants. The company was founded in 2016 and is headquartered in Lysaker, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ocean Sun AS reported revenue of kr 2.2M in FY2025 versus kr 238K in FY2021, a compound +74.1%/yr. Reported net income was −kr 20.6M in FY2025.

Growth Quality 30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.2M NOK
Latest YoY
−69.6%
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.
−16.5%
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.
+13.8%
Avg. growth/yr (8Y) 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.
+14.3%
Revenue +74.1%/yr
FY21 kr 238K
FY22 kr 3.8M
FY23 kr 3.2M
FY24 kr 7.2M
FY25 kr 2.2M
Net income
FY21 −kr 18.8M
FY22 −kr 18.2M
FY23 −kr 18.7M
FY24 −kr 17.0M
FY25 −kr 20.6M

OSUN screens 71% overvalued. Compare with China Yangtze Power Co →

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Cite: Fair Value Calculator (2026). "Ocean Sun AS Fair Value". https://www.fairvalue-calculator.com/stock/OSUN

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.

Quality Score 42 · Above median
Fair Value upside −71% · Bottom 25%
Return on assets -57% · Bottom 25%
Net margin (TTM) 0% · Below median
Revenue growth 12% · Above median

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/B 0.30× · Cheaper than 75% of peers
P/S (TTM) 2.30× · Pricier than median

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 12
FUTURE 59 · sector 0
PAST 0 · sector 12
HEALTH 0 · sector 68
DIVIDEND 0 · sector 48

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.

None of the checked exposures detected

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 16, 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

Is Ocean Sun AS (OSUN) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 0.1530 versus a price of kr 0.5240, about −71% (overvalued).
What is the fair value of OSUN?
Our model-based fair value for Ocean Sun AS is kr 0.1530 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 0.5240.
What is the quality score of OSUN?
Ocean Sun AS has a Quality Score of 40/100. 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 Ocean Sun AS (OSUN)?
Ocean Sun AS reported trailing-twelve-month revenue of about 2.2M NOK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of OSUN?
The net profit margin of Ocean Sun AS is about 0.0%, meaning it keeps roughly 0.0% 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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