Scana ASA (SCANA) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Scana ASA NOK 4.28, price NOK 1.43, upside +199.3%, quality 47 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 23, 2026.
How to read this chart
60‑month range kr 0.9870 – kr 3.42 · fair‑value band kr 2.87 – kr 5.96 · the kr 1.43 price screens below the kr 4.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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Scana ASA provides technology and services for the offshore and energy industries in Norway, other European countries, the United States, Asia, and Africa. It operates in two segments: Energy and Offshore.
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Scana ASA provides technology and services for the offshore and energy industries in Norway, other European countries, the United States, Asia, and Africa. It operates in two segments: Energy and Offshore. The company offers stress joints, mooring systems, actuators, bop, risers, maintenace, and surface treatment products; and energy storage solutions, shore power, and energy modules. It also provides product and service portfolio, including design and integration of electrical power systems, electrical infrastructure, energy storage systems, and control system. In addition, the company is involved in design and manufacturing of riser applications and specialist subsea equipment to rig servicing; ISS services; mooring systems; IMR lifecycle services for rigs and vessels; and mooring solutions and valve control systems to the shipping, energy, and aquaculture industry. Scana ASA was formerly known as Incus Investor ASA and changed its name to Scana ASA in May 2020. The company was founded in 1976 and is headquartered in Bergen, Norway.
Stock analysis
Scana ASA (SCANA) currently trades at kr 1.43, while our model-based Fair Value estimate is kr 4.28, implying the stock looks roughly 66.6% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 3.67 per share, and 10 of the 11 models we run sit above the kr 1.43 price.
Bear case: the Asset-Based group reads lowest at kr 0.9100, and 1 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: kr 2.87 (bear) to kr 5.96 (bull), the price of kr 1.43 sits below 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 47/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Scana ASA reported revenue of 1.6B NOK in FY2025 versus 304M NOK in FY2021, a compound +51.4%/yr. Reported net income was −36.4M NOK in FY2025.
Key figures
Market cap 660M NOK (≈ $69.5M) · P/E ratio 143.0 · P/S ratio 0.40 · EPS (TTM) kr 0.0100 · Net margin −2.3% · Return on equity 0.5% · Return on assets (EBIT) 3.3% · Operating margin 4.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at 199%, SCANA screens cheaper than that median.
Fair Value models
Bear kr 2.87Fair Value kr 4.28Bull kr 5.96
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 0.0074 per share) are deliberately not added.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.75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−17.0%
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.
+21.7%
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.
+39.4%
Start year 2020 (pandemic). Over 10 years: +3.2% a year
Revenue growth 24 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.
−0.4%
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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.
5.0% (2020) → −0.8% (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
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−12.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about −14.3% a year for the price.
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.Specialty Industrial Machinery · 810 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside+199.3% · Top 25%
Profitability
Return on equity (TTM)0.5% · Bottom 25%
Return on assets1.8% · Below median
Net margin (TTM)0.2% · Bottom 25%
Operating margin (TTM)4.6% · Below median
Growth and dividend
Revenue growth13.4% · Above median
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
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). "Scana ASA Fair Value". https://www.fairvalue-calculator.com/stock/SCANA
Frequently asked questions
Is Scana ASA (SCANA) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of kr 4.28 versus a price of kr 1.43, about +199% upside (undervalued).
What is the fair value of SCANA?
Our model-based fair value for Scana ASA is kr 4.28 (as of Sep 23, 2026), built from audited fundamentals. The current price: kr 1.43.
What is the quality score of SCANA?
Scana ASA has a Quality Score of 47/100. 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 Scana ASA (SCANA)?
Our model-based price target is the fair value of kr 4.28 (as of Sep 23, 2026) from 11 valuation models. Cautious scenario kr 2.87, optimistic scenario kr 5.96. It is a calculation from audited fundamentals, not an analyst target.
What is the Scana ASA stock forecast for 2026?
Our models put fair value at kr 4.28, about +199% upside versus a price of kr 1.43 (undervalued). Cautious scenario kr 2.87, optimistic scenario kr 5.96. The calculation is refreshed regularly with new filings.
What is the revenue of Scana ASA (SCANA)?
Scana ASA reported trailing-twelve-month revenue of about 1.6B NOK (latest available figure, as of Sep 23, 2026).
What growth is priced into Scana ASA (SCANA)?
For today's price to be fair in a discounted-cash-flow model, Scana ASA would have to grow free cash flow by -12.2 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +39.4 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of SCANA use?
Our models discount Scana ASA at 11.1 %: a base by market capitalisation (micro), damped by beta 0.54, country premium for Norway. 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 Scana ASA that is -12.2 % per year a year over ten years, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has Scana ASA (SCANA) delivered so far?
Over the past 5 years revenue at Scana ASA grew +39.4 % a year. The price currently implies -12.2 % 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 Scana ASA (SCANA) growing?
The median revenue growth in the sector is +5.1 % a year. That is the yardstick for the growth priced into Scana ASA (-12.2 % 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 Scana ASA (SCANA)?
The free-cash-flow yield on the price is 20.06 %: that much free cash flow Scana ASA produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Scana ASA (SCANA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Scana ASA it is kr 4.28 per share (as of Sep 23, 2026), against a price of kr 1.43. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Scana ASA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, SCANA trades below its calculated fair value: price kr 1.43, fair value kr 4.28, a gap of about +199% (undervalued). 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 SCANA?
No. The price is what the market pays today (kr 1.43); the fair value is what the company's own numbers justify (kr 4.28). For Scana ASA the two are kr 2.85 per share apart. That gap is exactly why we show both numbers side by side.
How much is Scana ASA worth?
The market values Scana ASA at about 660M NOK (market capitalisation, as of Sep 23, 2026). Per share that is kr 1.43; our models calculate a fair value of kr 4.28 per share.
What do the bullish and bearish scenarios say about SCANA?
Our models span a range for Scana ASA: cautious scenario kr 2.87, base kr 4.28, optimistic kr 5.96 per share (as of Sep 23, 2026, price kr 1.43). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SCANA?
Scana ASA trades at a price-to-earnings ratio of 143.0 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 4.28 is built from several models across several years. Other multiples: PEG 3.2, P/B 1.1, P/S 0.4, EV/EBITDA 8.8.
What is the PEG ratio of SCANA?
The PEG ratio of Scana ASA is 3.22 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Scana ASA (SCANA)?
Balance-sheet figures for Scana ASA (as of Sep 23, 2026): return on equity 0.5%, debt of 0.09 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is SCANA from its 52-week high?
Scana ASA trades at kr 1.43, about 15% below its 52-week high of kr 1.69 and 7% above the low of kr 1.34 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of kr 4.28 is for.
Which stocks are comparable to Scana ASA?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin 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 Scana ASA stock attractive at the current price?
The data as of Sep 23, 2026: price kr 1.43, calculated fair value kr 4.28 (+199%), Quality Score 47/100, from 11 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 SCANA calculated?
We run Scana ASA through 11 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 4.28, 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 13.9 % above its aggregate fair value. Scana ASA currently trades 199 % below its own fair value, and the market average says nothing about that. 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 Scana ASA (SCANA)?
The closing price on Sep 25, 2026 was kr 1.43. Our model-based fair value is kr 4.28, about +199% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Scana ASA right now?
The price is below even our cautious bear case (kr 2.87). The market is more pessimistic than our downside scenario. 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 quality (47/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (kr 2.87 to kr 5.96) leaves room in how you read the outcome.
Key figures of Scana ASA
How large is the market capitalisation of Scana ASA (SCANA)?
The market capitalisation of Scana ASA is 660M NOK (≈ $69.5M). 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 Scana ASA (SCANA)?
The price-to-sales ratio of Scana ASA is 0.40 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Scana ASA (SCANA)?
Earnings per share at Scana ASA are kr 0.0100 (price ÷ EPS = P/E 143.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Scana ASA (SCANA)?
The net margin of Scana ASA is −2.3% (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 Scana ASA (SCANA)?
The return on equity (ROE) of Scana ASA is 0.5% (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 Scana ASA (SCANA)?
On an EBIT basis the return on assets of Scana ASA is 3.3% (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 Scana ASA (SCANA)?
The operating margin of Scana ASA is 4.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Scana ASA (SCANA)?
Revenue at Scana ASA is growing +13.4% versus a year earlier (3y avg +21.7%). 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 Scana ASA (SCANA)?
Earnings per share at Scana ASA are growing +11.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Scana ASA (SCANA) carry?
The net debt of Scana ASA is 38.0M NOK (fiscal year 2025, ≈ 0.3 yrs of FCF). 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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