Solstad Maritime ASA (SOMA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Solstad Maritime ASA stock NOK 28.03, price NOK 27.20, upside +3.1%, quality 68 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
18‑month range kr 15.43 – kr 30.20 · fair‑value band kr 16.88 – kr 37.96 · the kr 27.20 price screens below the kr 28.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Solstad Maritime ASA owns and operates offshore service vessels (OSVs) that provides maritime services to the offshore energy industry in North Sea, North and Central America, Mediterranean and rest of the Europe, Africa, South America, Australia, and Asia.
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It operates through Anchor Handling Tug Supply Vessels (AHTS) and Construction Service Vessels (CSVs) segments. The company operates subsea construction contracts; and offers services to various vessel spreads, such as ROVs, tooling, project personnel, engineering support, survey, and other services.
It also offers vessel management and operations services. The company operates 10 AHTS vessels and 22 CSVs. Solstad Maritime ASA was incorporated in 2023 and is headquartered in Skudeneshavn, Norway.
Stock analysis
Solstad Maritime ASA (SOMA) currently trades at kr 27.20, while our model-based Fair Value estimate is kr 28.03, so the stock looks roughly fairly valued today (gap 3.0%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 83.56 per share, and 20 of the 26 models we run sit above the kr 27.20 price.
Bear case: the Asset-Based group reads lowest at kr 11.98, and 6 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 16.88 (bear) to kr 37.96 (bull), the price of kr 27.20 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 68/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Solstad Maritime ASA reported revenue of $580M in FY2025 versus $403M in FY2021, a compound +9.5%/yr. Reported net income was $213M in FY2025.
Key figures
Market cap 12.7B NOK (≈ $1.3B) Small · P/E ratio 5.0 · P/S ratio 1.84 · EPS (TTM) kr 5.43 · Dividend yield 8.7% · Net margin 36.7% · Return on equity 28.4% · Return on assets (EBIT) 8.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 87 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 69% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 13% fair-value upside, at 3%, SOMA screens richer than that median.
Fair Value models
Bearkr 16.88Fair Value kr 28.03Bullkr 37.96
Price kr 27.20 · Upside +3.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 2.62 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.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCFkr 34.15kr 55.39kr 84.6276
Growth DCFkr 34.21kr 52.31kr 75.4675
Owner Earningskr 53.28kr 83.95kr 126.1573
All 26 models by family
DCF Models
FCF DCFkr 34.15kr 55.39kr 84.6276
Owner Earningskr 53.28kr 83.95kr 126.1573
5Y Revenue Exitkr 16.60kr 26.66kr 38.8869
5Y EBITDA Exitkr 37.37kr 66.35kr 100.4771
5Y P/E Exitkr 44.78kr 80.50kr 118.6767
10Y Revenue Exitkr 22.90kr 33.50kr 46.9564
10Y EBITDA Exitkr 35.51kr 58.98kr 90.7564
10Y P/E Exitkr 39.86kr 68.06kr 103.6960
Earnings-Based
Graham-Doddkr 29.42kr 101.68kr 136.5862
Lynch FVkr 23.53kr 33.61kr 43.7058
PEG = 1.0kr 23.53kr 33.61kr 43.7055
EPVkr 16.16kr 19.59kr 22.4471
Dividend Discount
Gordon GGMkr 16.95kr 30.55kr 42.0565
DDM Multi-Stagekr 16.95kr 27.65kr 32.6364
Multiples
P/E Multiplekr 68.13kr 90.84kr 113.5663
P/S Multiplekr 17.68kr 23.58kr 29.4758
P/B Multiplekr 60.32kr 80.43kr 100.5455
EV/EBITkr 39.86kr 56.75kr 73.6465
EV/EBITDAkr 43.59kr 61.73kr 79.8667
EV/Revenuekr 4.03kr 10.40kr 16.7650
Asset-Based
NCAV (Graham)kr 8.94kr 11.98kr 17.8754
Growth DCF
Growth DCFkr 34.21kr 52.31kr 75.4675
Rev-Margin DCFkr 16.60kr 27.25kr 40.0769
Economic Profit
Residual Incomekr 22.89kr 29.28kr 45.8971
ROIC Compounderkr 16.16kr 20.55kr 26.4969
Growth Earnings
Growth-Adj P/Ekr 58.49kr 83.56kr 108.6265
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.2%
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.
+7.4%
’21
’22
’23
’24
’25
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+15.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.4%
Dividend (yield on the price)8.7%
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).
+1.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −0.8% 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.Marine Shipping · 220 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside+3.1% · Below median
Profitability
Return on equity (12 months)28.4% · Top 25%
Return on assets13.1% · Top 25%
Net margin (12 months)39.7% · Top 25%
Operating margin (12 months)37.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)10.3% · Below median
Dividend yield (12 months)8.7% · Top 25%
Balance sheet
Debt / equity0.56× · Highest 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
P/E (12 months)5.0× · Cheapest 25%
P/B1.52× · Pricier than median
P/S (12 months)2.12× · Pricier than median
Price / free cash flow (fiscal year)8.0× · Cheaper than median
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Is Solstad Maritime ASA (SOMA) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of kr 28.03 versus a price of kr 27.20, about +3% upside (fairly valued).
What is the fair value of SOMA?
Our model-based fair value for Solstad Maritime ASA is kr 28.03 (as of Nov 4, 2026), built from audited fundamentals. The current price: kr 27.20.
What is the quality score of SOMA?
Solstad Maritime ASA has a Quality Score of 68/100. 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 Solstad Maritime ASA (SOMA)?
Our model-based price target is the fair value of kr 28.03 (as of Nov 4, 2026) from 26 valuation models. Cautious scenario kr 16.88, optimistic scenario kr 37.96. It is a calculation from audited fundamentals, not an analyst target.
What is the Solstad Maritime ASA stock forecast for 2026?
Our models put fair value at kr 28.03, about +3% upside versus a price of kr 27.20 (fairly valued). Cautious scenario kr 16.88, optimistic scenario kr 37.96. The calculation is refreshed regularly with new filings.
What is the revenue of Solstad Maritime ASA (SOMA)?
Solstad Maritime ASA reported trailing-twelve-month revenue of about $631M (latest available figure, as of Nov 4, 2026).
Does Solstad Maritime ASA pay a dividend?
Solstad Maritime ASA currently shows a dividend yield of 8.69% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Solstad Maritime ASA (SOMA) and when is the ex-dividend date?
Solstad Maritime ASA pays a dividend of kr 2.36 per share a year, a dividend yield of 8.7%. The last ex-dividend date was Jul 17, 2026. The payout ratio is 54.6% of earnings. Free cash flow covers the dividend 1.43 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Solstad Maritime ASA (SOMA)?
For today's price to be fair in a discounted-cash-flow model, Solstad Maritime ASA would have to grow free cash flow by +1.5 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +9.5 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of SOMA use?
Our models discount Solstad Maritime ASA at 11.0 %: a base by market capitalisation (small), 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 Solstad Maritime ASA that is +1.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Solstad Maritime ASA (SOMA) delivered so far?
Over the past 4 years revenue at Solstad Maritime ASA grew +9.5 % a year. The price currently implies free-cash-flow growth of +1.5 % per 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 Solstad Maritime ASA (SOMA) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Solstad Maritime ASA (+1.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Solstad Maritime ASA (SOMA)?
The free-cash-flow yield on the price is 12.45 %: that much free cash flow Solstad Maritime ASA produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Solstad Maritime ASA (SOMA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Solstad Maritime ASA it is kr 28.03 per share (as of Nov 4, 2026), against a price of kr 27.20. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Solstad Maritime ASA stock overvalued or undervalued in 2026?
As of Nov 4, 2026, SOMA trades below its calculated fair value: price kr 27.20, fair value kr 28.03, a gap of about +3% (fairly valued). 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 SOMA?
No. The price is what the market pays today (kr 27.20); the fair value is what the company's own numbers justify (kr 28.03). For Solstad Maritime ASA the two are kr 0.8343 per share apart. That gap is exactly why we show both numbers side by side.
How much is Solstad Maritime ASA worth?
The market values Solstad Maritime ASA at about 12.7B NOK (market capitalisation, as of Nov 4, 2026). Per share that is kr 27.20; our models calculate a fair value of kr 28.03 per share.
What do the bullish and bearish scenarios say about SOMA?
Our models span a range for Solstad Maritime ASA: cautious scenario kr 16.88, base kr 28.03, optimistic kr 37.96 per share (as of Nov 4, 2026, price kr 27.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SOMA?
Solstad Maritime ASA trades at a price-to-earnings ratio of 5.0 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 28.03 is built from several models across several years. Other multiples: P/B 1.5, P/S 2.1, EV/EBITDA 6.0.
How solid is the balance sheet of Solstad Maritime ASA (SOMA)?
Balance-sheet figures for Solstad Maritime ASA (as of Nov 4, 2026): return on equity 28.4%, debt of 0.56 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is SOMA from its 52-week high?
Solstad Maritime ASA trades at kr 27.20, about 10% below its 52-week high of kr 30.20 and 69% above the low of kr 16.08 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 28.03 is for.
Which stocks are comparable to Solstad Maritime ASA?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, 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 Solstad Maritime ASA stock attractive at the current price?
The data as of Nov 4, 2026: price kr 27.20, calculated fair value kr 28.03 (+3%), Quality Score 68/100, from 26 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 SOMA calculated?
We run Solstad Maritime ASA through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 28.03 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Solstad Maritime ASA currently trades 3% 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 Solstad Maritime ASA (SOMA)?
The closing price on Nov 6, 2026 was kr 27.20. Our model-based fair value is kr 28.03, about +3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Solstad Maritime ASA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (kr 16.88 to kr 37.96) leaves room in how you read the outcome.
Key figures of Solstad Maritime ASA
How large is the market capitalisation of Solstad Maritime ASA (SOMA)?
The market capitalisation of Solstad Maritime ASA is 12.7B NOK (≈ $1.3B). 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 Solstad Maritime ASA (SOMA)?
The price-to-sales ratio of Solstad Maritime ASA is 1.84 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Solstad Maritime ASA (SOMA)?
Earnings per share at Solstad Maritime ASA are kr 5.43 (price ÷ EPS = P/E 5.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Solstad Maritime ASA (SOMA)?
The dividend yield of Solstad Maritime ASA is 8.7% (payout 43.5%). 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 net margin of Solstad Maritime ASA (SOMA)?
The net margin of Solstad Maritime ASA is 36.7% (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 Solstad Maritime ASA (SOMA)?
The return on equity (ROE) of Solstad Maritime ASA is 28.4% (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 Solstad Maritime ASA (SOMA)?
On an EBIT basis the return on assets of Solstad Maritime ASA is 8.4% (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 Solstad Maritime ASA (SOMA)?
The operating margin of Solstad Maritime ASA is 37.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Solstad Maritime ASA (SOMA)?
Revenue at Solstad Maritime ASA is growing +10.3% versus a year earlier (3y avg +7.4%). 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 Solstad Maritime ASA (SOMA)?
Earnings per share at Solstad Maritime ASA are growing +35.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Solstad Maritime ASA (SOMA) carry?
The net debt of Solstad Maritime ASA is $533M (fiscal year 2025, ≈ 3.2 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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Broad data
Nov 4, 2026