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Scatec ASA (STECF) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Scatec ASA $10.40, price $12.60, upside -17.5%, 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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Utilities · US · ISIN NO0010715139

SA Scatec ASA logo Some data Sep 24, 2026

Scatec ASA

STECF · US

Weak valuationQuality is weak on top of the rich price.

!Fair value $10.40 · Overvalued (−17.5%)
!Quality 44/100
!Mixed Growth (revenue 5y +5.5 %/yr)
!Thin margins · 1.6% net margin (TTM)
!High debt · negative free cash flow
!Narrow moat 44/100
!Evidence only medium, so the estimate is less certain

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

$19.00 $6.22 Fair Value $10.40 May 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 $6.22 – $19.00 · fair‑value band $7.80 – $13.00 · the $12.60 price screens above the $10.40 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

Scatec ASA, together with its subsidiaries, provides renewable energy solutions. The company operates through Power Production and Development & Construction segments. It produces and sells solar, wind, and hydro generated electricity.

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Scatec ASA, together with its subsidiaries, provides renewable energy solutions. The company operates through Power Production and Development & Construction segments. It produces and sells solar, wind, and hydro generated electricity. The company also develops, builds, owns, and operates solar, wind, and hydro power plants; and storage solutions, including solar, wind, hydropower, battery storage and hybrid systems. The company is also involved in the engineering, procurement, and construction activities. It has operations in South Africa, Egypt, Ukraine, Malaysia, Pakistan, Jordan, Honduras, the Czech Republic, Botswana, Vietnam, and internationally. The company was formerly known as Scatec Solar ASA and changed its name to Scatec ASA in November 2020. Scatec ASA was incorporated in 2007 and is headquartered in Oslo, Norway.

Stock analysis

Scatec ASA (STECF) currently trades at $12.60, while our model-based Fair Value estimate is $10.40, 17.5% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of $13.81 per share, and 2 of the 12 models we run sit above the $12.60 price.

Bear case: the Dividend Discount group reads lowest at $1.63, and 10 of the 12 models stay below the price. Evidence for this calculation is medium.

Scenario range: $7.80 (bear) to $13.00 (bull), the price of $12.60 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 Utilities sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Scatec ASA reported revenue of 3.6B NOK in FY2025 versus 3.0B NOK in FY2021, a compound +4.5%/yr. Reported net income was 978M NOK in FY2025, compounding +26.0%/yr from FY2021.

Key figures

Market cap $2.0B · P/E ratio 420.0 · EPS (TTM) $0.0300 · Net margin 27.0% · Return on equity 0.3% · Return on assets (EBIT) 5.9% · Operating margin 34.7% · Revenue (TTM) 3.6B NOK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).

What moves the price

The share trades at its 52-week high and 65% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −40% fair-value upside, at −17%, STECF screens cheaper than that median.

Fair Value models

Bear $7.80 Fair Value $10.40 Bull $13.00
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 ($0.0227 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.
Highest evidence
Residual Income $5.62 $6.19 $7.73 76
Gordon GGM $0.9500 $1.89 $2.86 67
DDM Multi-Stage $0.9500 $1.63 $2.00 67
All 12 models by family
Earnings-Based
Graham-Dodd $4.33 $24.82 $34.51 63
Lynch FV $6.99 $9.99 $12.98 61
PEG = 1.0 $6.99 $9.99 $12.98 57
Dividend Discount
Gordon GGM $0.9500 $1.89 $2.86 67
DDM Multi-Stage $0.9500 $1.63 $2.00 67
Multiples
P/E Multiple $8.60 $11.46 $14.33 63
P/S Multiple $4.43 $5.91 $7.38 58
P/B Multiple $8.12 $10.83 $13.53 55
EV/EBITDA n/a $0.2900 >$1.16 62
Asset-Based
NCAV (Graham) $3.29 $4.40 $6.57 54
Economic Profit
Residual Income $5.62 $6.19 $7.73 76
Growth Earnings
Growth-Adj P/E $9.67 $13.81 $17.96 67

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Quality Score breakdown

Overall quality 44/100

Of which business quality 42 · Market factors (momentum, volatility) 60

Profitability 37
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 12
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 22
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 100
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. 18/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−16.9%
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.
+6.5%
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.
+5.5%
Start year 2020 (pandemic). Over 10 years: +15.4% a year
Revenue growth 13 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.
+13.9%
What shareholders gained per year (last 5 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 5 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.
+20.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.4%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.20.4% vs 32.1%, slowing
Profit margin 2020 to 2025 ⓘ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.47% → 32%
Start year 2020 (pandemic)

STECF screens overvalued: fair value 17% below the price. Compare with China Yangtze Power Co →

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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

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Fortum Oyj FORTUM €23.42 €14.06 −40%
VERBUND AG VER €63.20 €56.60 −10%
Adani Green Energy Limited ADANIGREEN ₹1,297 ₹169.61 −87%
SDIC Power Holdings 600886 ¥14.86 ¥16.35 +10%
EDP Renewables, S.A EDPR €12.99 €3.53 −73%
China Three Gorges Renewables (Group) Co 600905 ¥3.61 ¥2.40 −34%
Public Power Corporation PPC €22.96 €7.44 −68%

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Scatec ASA · Fair Value
$10.40 −17%Fair Value
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Cite: Fair Value Calculator (2026). "Scatec ASA Fair Value". https://www.fairvalue-calculator.com/stock/STECF

Frequently asked questions

Is Scatec ASA (STECF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $10.40 versus the last price from Sep 25, 2026 of $12.60, about −17% upside (overvalued).
What is the fair value of STECF?
Our model-based fair value for Scatec ASA is $10.40 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $12.60.
What is the quality score of STECF?
Scatec 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 Scatec ASA (STECF)?
Our model-based price target is the fair value of $10.40 (as of Sep 24, 2026) from 12 valuation models. Cautious scenario $7.80, optimistic scenario $13.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Scatec ASA stock forecast for 2026?
Our models put fair value at $10.40, about −17% upside versus the last price from Sep 25, 2026 of $12.60 (overvalued). Cautious scenario $7.80, optimistic scenario $13.00. The calculation is refreshed regularly with new filings.
What is the revenue of Scatec ASA (STECF)?
Scatec ASA reported trailing-twelve-month revenue of about 3.6B NOK (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Scatec ASA (STECF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Scatec ASA it is $10.40 per share (as of Sep 24, 2026), against a price of $12.60. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Scatec ASA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, STECF trades above its calculated fair value: price $12.60, fair value $10.40, a gap of about −17% (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 STECF?
No. The price is what the market pays today ($12.60); the fair value is what the company's own numbers justify ($10.40). For Scatec ASA the two are $2.20 per share apart. That gap is exactly why we show both numbers side by side.
How much is Scatec ASA worth?
The market values Scatec ASA at about $2.0B (market capitalisation, as of Sep 24, 2026). Per share that is $12.60; our models calculate a fair value of $10.40 per share.
What do the bullish and bearish scenarios say about STECF?
Our models span a range for Scatec ASA: cautious scenario $7.80, base $10.40, optimistic $13.00 per share (as of Sep 24, 2026, price $12.60). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is STECF from its 52-week high?
Scatec ASA trades at $12.60, at its 52-week high of $12.60 and 65% above the low of $7.65 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $10.40 is for.
Which stocks are comparable to Scatec ASA?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, Fortum Oyj, 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 Scatec ASA stock attractive at the current price?
The data as of Sep 24, 2026: price $12.60, calculated fair value $10.40 (−17%), Quality Score 44/100, from 12 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 STECF calculated?
We run Scatec ASA through 12 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 $10.40, 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 14.5 % above its aggregate fair value. Scatec 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 Scatec ASA (STECF)?
The latest price we hold is from Sep 25, 2026 and stands at $12.60. Our model-based fair value is $10.40, about −17% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Scatec ASA right now?
Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Scatec ASA

How large is the market capitalisation of Scatec ASA (STECF)?
The market capitalisation of Scatec ASA is $2.0B. 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/E ratio of Scatec ASA (STECF)?
The price-to-earnings ratio of Scatec ASA is 420.0. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What are the earnings per share of Scatec ASA (STECF)?
Earnings per share at Scatec ASA are $0.0300 (price ÷ EPS = P/E 420.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Scatec ASA (STECF)?
The net margin of Scatec ASA is 27.0% (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 Scatec ASA (STECF)?
The return on equity (ROE) of Scatec ASA is 0.3% (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 Scatec ASA (STECF)?
On an EBIT basis the return on assets of Scatec ASA is 5.9% (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 Scatec ASA (STECF)?
The operating margin of Scatec ASA is 34.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Scatec ASA (STECF)?
Revenue at Scatec ASA is growing −1.3% versus a year earlier (3y avg +6.5%). 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 Scatec ASA (STECF)?
Earnings per share at Scatec ASA are growing +35.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Scatec ASA (STECF) generate?
The free cash flow of Scatec ASA is −3.6B 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 Scatec ASA (STECF) carry?
The net debt of Scatec ASA is 26.9B NOK (fiscal year 2025). 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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