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Solstad Offshore ASA (SOFF) Fair Value & Analysis

Industrials · NO · Market cap 7.4B NOK

SO Solstad Offshore ASA SOFF · OL
Pricekr 69.30
Fair Valuekr 10.96
Upside-84.2%
Quality64/100
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Weak Growth
Highly profitable · 47.0% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/15)
Wide moat 73/100
Evidence: High Range kr 9.35 – kr 13.69 Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 24 days ago

Fair value updated Jul 18, 2026, revised from kr 10.97 to kr 10.96 (−0.1%) since Jun 24, 2026. Share price +6.3% over the past month.

A solid business, but screening 84% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 13.69). The favourable scenario is already priced in.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 69.30 kr 4.27 Fair Value kr 10.96 May 2021 Aug 2026

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 4.27 – kr 69.30 · fair‑value band kr 9.35 – kr 13.69 · the kr 69.30 price screens above the kr 10.96 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Solstad Offshore ASA (SOFF) currently trades at kr 69.30, while our model-based Fair Value estimate is kr 10.96, implying the stock looks roughly 84.2% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Industrials 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: high).

Over the trailing twelve months, Solstad Offshore ASA generated revenue of 307M NOK at a net margin of 47.0%. Revenue grew 24.6% year over year. It earns a return on equity of 38.5%. Net debt stands at 49.9M NOK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 9.35 (bear case) to kr 13.69 (bull case); at kr 69.30, 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 1% below its 52-week high and 87% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 67% fair-value upside, at -84%, SOFF 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (kr 0.3600 to kr 20.61). Read the values as a conservative anchor, not as a price target.
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
Growth DCF kr 12.68 kr 17.04 kr 24.28 80
Residual Income kr 9.67 kr 15.65 kr 199.28 76
Rev-Margin DCF kr 5.95 kr 7.49 kr 9.38 74
All 24 models by family
DCF Models
FCF DCF kr 12.15 kr 16.69 kr 24.82 38
Owner Earnings kr 15.02 kr 20.61 kr 30.62 31
5Y Revenue Exit kr 5.95 kr 7.19 kr 8.97 39
5Y EBITDA Exit kr 9.08 kr 12.61 kr 17.29 41
5Y P/E Exit kr 11.64 kr 17.05 kr 23.51 38
10Y Revenue Exit kr 8.32 kr 9.46 kr 10.53 36
10Y EBITDA Exit kr 10.24 kr 12.73 kr 15.30 37
10Y P/E Exit kr 11.76 kr 15.42 kr 18.88 35
Earnings-Based
Graham-Dodd kr 8.73 kr 10.67 kr 12.00 54
EPV kr 8.89 kr 10.33 kr 11.57 59
Dividend Discount
Gordon GGM kr 0.3300 kr 0.3600 kr 0.4100 70
DDM Multi-Stage kr 0.3300 kr 0.4100 kr 0.5200 61
Multiples
P/E Multiple kr 13.48 kr 17.97 kr 22.46 63
P/S Multiple kr 2.41 kr 3.21 kr 4.01 58
P/B Multiple kr 5.19 kr 6.92 kr 8.65 55
EV/EBIT kr 10.66 kr 14.29 kr 17.92 53
EV/EBITDA kr 8.26 kr 11.09 kr 13.92 54
EV/Revenue kr 2.01 kr 2.97 kr 3.94 43
Asset-Based
NCAV (Graham) kr 1.92 kr 2.58 kr 3.85 50
Growth DCF
Growth DCF kr 12.68 kr 17.04 kr 24.28 80
Rev-Margin DCF kr 5.95 kr 7.49 kr 9.38 74
Economic Profit
Residual Income kr 9.67 kr 15.65 kr 199.28 76
ROIC Compounder kr 8.89 kr 10.68 kr 12.46 72
Growth Earnings
Growth-Adj P/E kr 9.70 kr 13.85 kr 18.01 68

Widest divergence: Growth Earnings (kr 13.85) versus Dividend Discount (kr 0.3600). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 307M NOK
Revenue growth (YoY) +24.6%
Net margin 47.0%
Return on equity 38.5%
Free cash flow 145M NOK FY2025
P/E ratio 3.8
More key figures
Operating margin 18.6%
EPS (TTM) kr 17.73
EPS growth (YoY) +26.1%
Net debt 49.9M NOK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 63 · Market factors (momentum, volatility) 80

Profitability 66
Margins and returns on capital today
Quality Growth 69
Are margins and returns improving?
Cashflow 84
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 94
Distance to the 52-week high (market factor)
Net Issuance 0
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

Solstad Offshore ASA owns and operates offshore service vessels. The company owns and operates construction service vessels and anchor handling tug supply vessel and; and provides maritime services to offshore energy industry.

Full company description

Solstad Offshore ASA owns and operates offshore service vessels. The company owns and operates construction service vessels and anchor handling tug supply vessel and; and provides maritime services to offshore energy industry. It offers renewable energy services, subsea support operations, node seismic operations, subsea construction activities, support for well stimulation operations, and subsea and mooring installations; and additional services, such as ROVs, tooling, project personnel, and engineering support, as well as engages in oil and gas activities. The company owns a fleet of six vessels which includes three construction service vessels and three anchor handling tug supply vessels. It operates in the North Sea, North and Central America, Mediterranean/rest of Europe, Africa, South America, Australia, and Asia. Solstad Offshore ASA was founded in 1964 and is headquartered in Skudeneshavn, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Solstad Offshore ASA reported revenue of kr 290M in FY2025 versus kr 5.1B in FY2021, a compound −51.2%/yr. Reported net income was kr 139M in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
290M NOK
Latest YoY
−88.3%
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.
−60.1%
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.
−43.0%
Avg. growth/yr (25Y) 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.
−3.1%
Revenue −51.2%/yr
FY21 kr 5.1B
FY22 kr 4.6B
FY23 kr 6.7B
FY24 kr 2.5B
FY25 kr 290M
Net income
FY21 −kr 1.1B
FY22 −kr 1.3B
FY23 kr 400M
FY24 kr 1.3B
FY25 kr 139M
Character of growth · EPS growth decomposed (2013-2024) −48.7 % p.a.
Revenue per share −52.2 pp

of which total revenue +2.4 pp · buybacks/dilution −54.7 pp

EBIT margin −2.2 pp
Tax rate +0.7 pp
Residual (interest, one-offs) +5.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

SOFF screens 84% overvalued. Compare with Adani Ports and Special Economic Zone Limited →

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Cite: Fair Value Calculator (2026). "Solstad Offshore ASA Fair Value". https://www.fairvalue-calculator.com/stock/SOFF

Peer Group

Marine Shipping · 232 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 64 · Top 25%
Fair Value upside −84% · Bottom 25%
Return on equity (TTM) 38% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 47% · Top 25%
Operating margin (TTM) 19% · Above median
Revenue growth 25% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 3.8× · Cheaper than 75% of peers
P/B 1.85× · Pricier than 75% of peers
P/S (TTM) 2.52× · Pricier than median
P/FCF 5.3× · Pricier than median
EV/EBITDA 7.9× · Pricier than median
PEG 1.68× · 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 29
FUTURE 100 · sector 18
PAST 100 · sector 27
HEALTH 88 · sector 88
DIVIDEND 0 · sector 45

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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 Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,828 ₹1,041 -43%
A.P. Møller - Mærsk A/S MAERSKA kr 16,520 kr 3,033 -82%
COSCO SHIPPING Holdings 601919 ¥13.98 ¥40.37 +189%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.57 +27%
HMM Co 011200 20,050 KRW 33,855 KRW +69%
Ningbo Zhoushan Port Company 601018 ¥3.35 ¥5.58 +67%
JSW Infrastructure Limited JSWINFRA ₹330.05 ₹126.31 -62%
Wan Hai Lines Ltd 2615 80.70 TWD 212.79 TWD +164%
Wallenius Wilhelmsen ASA WAWI kr 137.70 kr 50.56 -63%
Yang Ming Marine Transport Corporation 2609 50.10 TWD 96.14 TWD +92%

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Frequently asked questions

Is Solstad Offshore ASA (SOFF) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 10.96 versus a price of kr 69.30, about −84% (overvalued).
What is the fair value of SOFF?
Our model-based fair value for Solstad Offshore ASA is kr 10.96 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 69.30.
What is the quality score of SOFF?
Solstad Offshore ASA has a Quality Score of 64/100. 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 Solstad Offshore ASA (SOFF)?
Solstad Offshore ASA reported trailing-twelve-month revenue of about 307M NOK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of SOFF?
The net profit margin of Solstad Offshore ASA is about 47.0%, meaning it keeps roughly 47.0% of revenue as net income. Based on the latest reported figures.
Does Solstad Offshore ASA pay a dividend?
Solstad Offshore ASA currently shows a dividend yield of about 0.17% relative to its recent price (as of Jul 18, 2026).

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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